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Wednesday, November 28, 2007

Israel's eToro: A New Way To Play Forex?

While a few geniuses often enjoy using complex software to understand even more complex scenarios, most of the population enjoys keeping it simple--especially when it deals with money.

One Israeli company called eToro has decided to help novices understand how the Foreign Exchange (or Forex) works by presenting a visual presentation that anyone can understand.

(TechCrunch) Israeli eToro is taking a novel approach in simplifying Foreign Exchange (Forex) trading by packaging the complicated concepts involved in trading one currency against another, in fun non-threatening wrappers. [...]

I spoke to eToro's CEO, Johnathan Assia, who explained that the real challenge for eToro is finding ways to present Forex data in a simplified and user-friendly manner that makes it accessible to ordinary users. To appreciate the challenge, take a look at the screenshot on the right depicting a typical Forex trading app interface. Now take a look at the screenshots below of eToro's offering. Talk about a picture being worth a 1000 US Dollars Vs. the Japanese Yen...

While users should ALWAYS be careful while investing any amount of money through a program (as it is easier to lose money than to gain it), eToro's approach will hopefully help people grasp "the big picture" of what is happening in the market place.

Hopefully this will help novices become experts at handling their own money on Forex, although it probably would not hurt to seek out advice from experts in the field.

Disclaimer: Users should always seek out professional advice before investing any amount of money in any company/currency, regardless of past history. Don't be a sucker--do your own research!!!

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1 comment:

  1. Money... trading... and oy vey: the Chosenites.

    What a most unlikely combination!


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