Currensee is a financial services company based in Boston to serve as a social network for foreign exchange (FX, Forex or currency) traders. The impetus is to let traders collaborate on trading strategies, styles, and techniques stemmed from the fundamental chaos of the retail forex market, where regulations vary from country to country.

 

From this initial social networking foray emerged Currensee's "Trade Leaders Investment Program," in which Currensee uses a proprietary algorithm to identify top-performing traders from within the social network, invites them to participate in the program, and then allows other investors to follow and execute their trades in their own brokerage account. Something that was akin to the mutual fund system based in stock indexes but for foreign exchange trading.

Currensee’s goal is to bring transparency to retail Forex trading by creating an active network of traders and a different way to make investing decisions. The Currensee trading social network connects retail Forex traders from around the world so they can see each others' actual trades and share trading strategies in real time to make more informed trade decisions.

 

Traders link their live brokerage accounts to Currensee, so when they participate in discussions and on trading teams, fellow traders can look at their trading performance and make an informed decision about their next trade. This form of social trading, or trading together, allows Forex traders to collaborate and share their Forex best practices, trading strategies, preferred pairs and economic indicators, and so on. This is a key differentiator, as there is a wide discrepancy between user performance in "demo accounts" and live brokerage accounts.

Currensee launched their Trade Leaders Investment Program (TLIP). Investors in the TLIP select the Trade Leader (or Trade Leaders) whose trades they want to follow and execute in their own trading account. Trade Leaders are selected from the members of the Currensee social network via a proprietary algorithm developed by Currensee's engineering team, and are screened for eligibility based on historical performance, risk management, and returns.

 

Investors in the program select the Trade Leaders they want to invest in, allocate their funds, and build Trade Leader portfolios. Whenever a Trade Leader executes a trade, it is mirrored in the investor’s own brokerage account. The investors are able to see every trade that is made. The model is similar to that of a stock mutual fund.