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Social trading showcased during Social Media Week
The beta TradingFloor.com platform allows Saxo Bank’s online community to copy trade the most successful traders in the business, share tips and information, as well as access to a wealth of content not only from Saxo’s in-house team of market experts but also from external contributors.
“If you feel comfortable following any particular trader, and copying his trades, then you can,” said Karsten Henriksen, Global Head of Business, emphasising trader quality is the essence “It’s that simple.”
Henriksen was keen to stress the fundamental principles that underpin the new TradingFloor platform launched less than a month ago.
“The original TradingFloor was launched purely as a blogging site three years ago,” he told the audience. “We could have actually left it like that – after all we are quite successful as a bank – but we became aware that there has been this growing sense of distrust of banks following the financial crisis.”
“We believe that the challenges facing the financial system are such that the only way to address this distrust is through self-empowerment,” he said. “We don’t see much sharing in finance as the finance system has been based on secret knowledge and that’s what we are trying to change here.”
“It’s about transparency and trust,” he added. “It’s about sharing”.
Henriksen pointed to the examples of online traveler-hosting community Airbnb and travel-related online site Tripadvisor as perfect examples of “peer-to-peer” sharing which enable consumers to make informed decisions on travel.
“We want to give out as much information as possible,” he said.
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Tags: social media, social network, socialtrading, trading, trading floor, trading fx, trading idea, trading platform, trading risks, trading techniques, tradingfloor saxo tv, tradingfloor.com