Selasa, 18 Oktober 2011

How Social Media Affects The Forex Market

How Social Media Affects The Forex Market, The Forex market, as you probably know by now, is the biggest market in the world. Yet, somehow, the average citizen, who is quite familiar with the Stock Market, has never heard of the Forex market When you tell them Forex means the same as foreign exchange, you generally get a response similar to “Ohhh” followed by a “And what is that”?

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With the size of the Forex market, and its potential for profit, you would expect it to be a much more popular and familiar market to the masses. A possible explanation of this phenomenon can be the fact that it was originally inaccessible to the average person, and only in the last decade has the Forex retail market taken off.


Having said that, the Forex market has managed to gain more exposure over the last year or two, especially on the global Web. This can be attributed mainly to social media and the presence of Forex brokers and traders on the various social networks.


It is true that the amount of Forex content on the Web continues to grow, but the way in which the primary Forex players make use of social media leaves much room for improvement. The three main social networks used in the Web community are of course Facebook, Twitter, and LinkedIn.


While LinkedIn and Twitter have an infrastructure in place enabling people to connect with others in their field, Facebook is intended more for people to connect with friends and relatives. The reason I say this is because, Forex as an industry is more suitable for the LinkedIn and Twitter environment then the Facebook one. It is true that there is the occasional Forex Facebook page offering Forex content, but both the contributor and the recipient of the content will benefit more from Twitter and LinkedIn and all the features they offer.


Although Twitter and LinkedIn might be better for Forex, all three social networks can be utilized to distribute Forex content, whether in the form of Forex news, Forex analysis, articles, or even signals. Social media, in general, is an unprecedented tool in its efficiency and effectiveness when it comes to exposure and communication.


Let’s examine how people and Forex companies are benefiting from the world of social media. 

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