A new online social trading community for serious investors has been announced by Saxo Bank in Copenhagen. The new portal enables traders around the world to share their trades with peers and “transforms trading into a social experience”.
Saxo Bank’s co-founders and co-CEOs Kim Fournais and Lars Seier Christensen said in a joint statement, “We want to set free the peer-to-peer power of traders around the globe by enabling them to connect online with experienced and like-minded investors who are tired of input from salespeople from traditional banks.”
On the new site (beta.tradingfloor.com) investors can share their trades “in a community where all performance data is verified so traders can be sure of the performance of the people they choose to follow or copy”.
Fournais and Christensen believe it may be a “game changer”. “Having revolutionised online trading as a first mover in 1998, we now want to democratise access to trading and fund management by opening up the otherwise closed world of trading. We are now enabling investors to share their trades openly, interact with each other, post comments and strategies, discuss ideas, follow and copy each other. We believe that this may radically change how investors will go about trading FX, CFDs, options, futures, bonds and equities in the future, making trading a social experience.
“On the new site people can see what the best participating traders are doing with their own money in any asset class of their choice. We are deliberately featuring only real traders with real accounts trading their own money to ensure a social trading community of serious investors.”
The website also features a range of other content for traders, “such as market news and views, data, insights and trade ideas from Saxo Bank’s research teams and VIP authors – and a real-time trade stream will reveal the current market sentiment”.