By Scott Thompson
FX social trading platform MarketsBook has rebranded as Tradeo and officially launched. The company's slogan has also changed, from 'Invest Together' to 'Tradeo, Where Traders Meet'
Writing on the company blog, CEO Jonathan Adest explains: "First and foremost, Tradeo is a social trading network. Back in the MarketsBook days, we used 'Invest Together', but as we continued to evolve and refine our view of ourselves and our place in the world, it became clear that we're currently more about trading than investing, per se. We switched to 'Social Trading' and used that for a short while, but never really fell in love with it. It was just too obvious and too boring. We asked our friends and partners for ideas and were amazed at the feedback and results!"
Last year, Tradeo raised $1 million of funding from venture capitalist AMV and brought onboard Gigi Levy, a technology entrepreneur and ex-CEO of online gaming and entertainment outfit 888 Holdings. In beta testing since June 2011, it lays claim to being the only site to offer community-sourced data, trading analytics and connectivity to brokers. Its Cloud Sync technology pulls user trading activity onto the desktop, providing current and verifiable trade data. It combines knowledge sharing tools with access to a group of hand-picked brokers and supports the MetaTrader and Act platforms. Adest comments: “Tradeo is the place where traders meet. We have launched the platform in response to a clear appetite from the financial community to use ‘new media’ communications channels to help make decisions. It is for traders frustrated by limited access to quality and real-time market data. Designed with the trader in mind, the Cloud Sync functionality for example, differentiates Tradeo from other web forums.”
The site’s suite of trading tools includes market analytics, pricing and charting information, quotes, financial calendars, news and the ability to monitor trends and set limits. Members use social media functionality to share views (trending, news feeds, befriending, chatting, liking, emailing/private messaging, commenting, sharing, polls etc) and users can get immediate feedback from their ‘friends’ on the trades and orders they execute.