Twitter Widely Used and Popular

Twitter is a wildly popular micro blogging and social networking service. Members send short messages called ‘tweets’ which are short posts limited to 140 characters. According to web traffic analysis done by Alexa Twitter is one of the 50 most popular websites. Twitter was creates in 2006 and has steadily grown in popularity. Twitter was used by both candidates in the 2008 presidential election. On Election Day Twitter use increased by 43%. Twitter users blog about most anything and that includes currency trading.

Twitter Offers Forex Converter

Currency traders are now using Twitter to share information and tips. Twitter has an online currency converter that covers most major currencies. Many Forex brokers have integrated Twitter into their day to day operations. Twitter can also be accessed by many mobile devices making it convenient for currency traders who can follow the forex market from their phones. Since most new mobile devices have internet access currency traders can conduct business from anywhere there is a signal.

Brokers Use Twitter to Share Information With Clients

Twitter also maintains a forum specifically for Forex traders and the currency allows forex traders and investors to check current currency exchange rates in real time. Since currency exchange rates change several times a day Forex brokers are using Twitter to communicate with clients giving them up to the minute reports about currency exchange rates in real time. The currency converter available on Twitter is updated several times a day.

Many top Forex brokers are now sending clients regular ‘tweets’ with trading recommendations and the latest market quotes. Social networking is one of the most effective marketing tools available and is well suited to Forex trading.