Forex Trading & Social Media
When it comes to marketing, it’s often said that content is fire and social media is gasoline. This is certainly true of the online forex trading industry, which has grown leaps and bounds over the past five years.
In a highly competitive market with tons of options, forex platforms are pulling out all the stops to grow their business. Naturally, these brands are latching on to social media to grow their following, boost conversion rates and enhance retention.
Of course, social media is just the dissemination strategy. In order to maximise the outreach, brands are devoting more time and resources to developing great content. Below we look at five ways leading finance brands are using social media to sell their platform. These methods are tried, tested and true, and should be on every broker’s radar.
Sharing unique content
When it comes to the financial markets, content is king. The words you use – whether for copy, education or news reporting – have a major impact on clicks, site visits and ultimately conversion. Unique content is also critical from the perspective of Search Engine Optimisation (SEO) and website ranking.
Notice how we’re saying unique content? That’s the critical part. Finance topics have been written so many times now that readers quickly lose interest if it doesn’t contain interesting or timely information. As a broker, content will take on many forms, but will generally involve the following:
- Financial market analysis
- News releases
- Educational resources
- Company press releases
In either case, one of the best places to share unique content is through social media. Actively engaging your audience with questions and polls is a great way to share content and boost engagement. When delivering news releases about the financial markets, it may be helpful to automatically link your website to your social media channel so that updates are done automatically.
Regardless of the type of content you produce, make sure it stays compliant. After all, a new round of MiFID legislation is hitting European markets early next year.
Social media isn’t just a launch pad for your marketing campaign. It is a place where conversation with customers should be actively encouraged. Forex brokers should treat their social media channels as platforms for answering important questions and engaging with their followers. It’s also the ideal medium for sharing FAQs or educational content that’s found on one of your website.
MyTradingBuddy.com has done a great job of not only developing unique trading education, but sharing updates with its followers. It has amassed nearly 80,000 followers and over 184,000 likes on its Twitter page (handle: @mytradingbuddy).
Using dynamic content
In today’s age, content is more than just words on a page. It also includes dynamic content in the form of videos and animated GIFs. Many forex trading platforms now rely on videos to share market information, sell their services and educate about finance.
Video has several advantages over traditional content. Some of these include providing information in a clear and digestible format, adding more life and character to the presentation and providing clickable links that viewers can visit to sign up to your service. Many platforms rely on YouTube to host all their videos. This allows them with a quick and easy way to get their content out to the various social media channels.
The animated GIF has also exploded in popularity, especially on Twitter. How many forex trading platforms are using GIFs to get their point across? The answer is not many, so there’s an opportunity here to make a big splash.
Highlighting unique USPs
Social media is the ideal place to develop a Unique Selling Proposition (USP), which defines your company’s unique position in the market. A company’s USP is also an important part of pricing products and services. The best forex trading platforms develop USPs that let them stand apart from their competitors.
After developing a unique value proposition, marketers usually take to social media to promote it. After all, there’s no better venue for highlighting a platform’s strengths and features than through Twitter, Facebook and LinkedIn.
These days, forex brokers aren’t just limited to currency trading; they also offer access to commodities, stocks, futures and even CFDs. Other platforms have also developed unique trading tools, bonus programs and special account features. These USPs can be embedded directly into a social media campaign for optimal results.
Promote social trading
The growth and widespread adoption of online forex platforms has given rise to a new phenomenon called social trading, which relies on user generated financial content for making investment decisions. eToro is one of the world’s leading social trading platforms and has been recognized for best use of social media. The company has an avid social media following, including nearly 1.4 million Facebook likes and more than 73,000 Twitter followers.
Forex trading platforms don’t have to go as far as eToro in their promotion of social trading, but they can still leverage various social networking communities to unite traders and create a common platform for collaboration.
Being active on social media is becoming a necessity for doing business today. In the world of forex trading, which caters to a large and growing online community, developing a strong social media presence is key.
A successful social media campaign grows new business opportunities, boosts client loyalty and positions your platform as a leader in the market. It’s also a lot cheaper than conventional marketing techniques. The result is higher sales and greater retention. If the President of the United States relies on social media to get his message across, your forex trading platform should step up its game!
Contentworks provides social media expertise specifically tailored to the forex trading industry. Our dedicated team of financial writers and PR experts can help you put together a comprehensive strategy that includes top-notch content and a carefully crafted social media campaign. Visit contentworks.agency to learn more.
 Greg Ciotti. “5 Ways to Develop a Unique Selling Proposition. ConvinceandConvert.com.
 EToro (November 19, 2012). “eToro Recognized For Best Use Of Social Media.”
 ZYWave (June 30, 2014). “Why social media for insurance brokers?”
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