for dutch payment organisation see currence . this article has multiple issues . please help improve it or discuss these issues on the talk page . learn how and when to remove these template messages a major contributor to this article appears to have a close connection with its subject . it may require cleanup to comply with wikipedia s content policies particularly neutral point of view . please discuss further on the talk page . march 2013 learn how and when to remove this template message this article contains content that is written like an advertisement . please help improve it by removing promotional content and inappropriate external links and by adding encyclopedic content written from a neutral point of view . january 2011 learn how and when to remove this template message learn how and when to remove this template message currensee inc type private industry financial services founded 2008 2008 headquarters boston united states key people dave lemont ceo asaf yigal co founder avi leventhal co founder products social trading mirror trading currency trading social network owner oanda corporation website www.currensee.com currensee or currensee.com was a financial services company based in boston to serve as a social network for foreign exchange fx forex or currency traders . the company provided mirror trading services to its clients that allowed them to make trading decisions based on other traders actions . the company was acquired by oanda in 2013 who decided to close down the service a year later in october 2014 . 1 the idea behind the company was to let traders collaborate on trading strategies styles and techniques in what would become known as social trading . this stemmed from the fundamental chaos of the retail forex market and the large number of solo day traders that were looking for trading ideas . 2 one of currensee s main innovations was the trade leaders investment program in which currensee used a proprietary algorithm to identify top performing traders from within the social network invited them to participate in the program and then allowed 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 . contents 1 history 2 the currensee social network 2.1 trade leaders investment program 2.2 leaderboard and the trader authority index 2.3 tweet my trades 2.4 currensee social indicators 3 see also 4 references 5 external links history edit the company was founded in 2008 by software developer asaf yigal and forex trader avi leventhal 3 at the time of the late 2000s recession . they identified an opportunity to offer forex trading as an alternative asset class and a new way to trade together . 3 the company was led by ceo dave lemont and was headquartered in boston s north end neighborhood . currensee was funded by north bridge venture partners egan managed capital and vernon & park capital . 4 they were a member of the national futures association and registered with the financial services authority . 5 it was acquired by the forex broker oanda corporation in september 2013 . 6 on october 9 2014 oanda corporation announced that on october 31 2014 currensee and the oanda trade leaders program otlp will cease operation . 7 the currensee social network edit together yigal and leventhal combining social networking with real trade collaboration . currensee s goal was to bring transparency to retail forex trading by creating an active network of traders and a different way to make investing decisions . 8 the currensee trading social network connected retail forex traders from around the world so they could see each other s actual trades and share trading strategies in real time to make more informed trade decisions . traders linked their live brokerage accounts to currensee so when they participated in discussions and on trading teams fellow traders could 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 . 9 this is a key differentiator as there is a wide discrepancy between user performance in demo accounts and live brokerage accounts . as at 2010 the social network was made up of members from over 80 countries connecting with other traders to form online trading teams share trading ideas market insights and trading strategies . with the 7 000 member community traded approximately 50 billion in volume per year . 10 11 currensee s motto was trade together . currensee differentiated itself from other online trading communities by allowing only live forex brokerage accounts to be linked in a trader s currensee profile . they did not link demo accounts . the company s message of real trades . real traders . real time . supported their stance on transparency in the forex market . currensee s competitors included etoro fx copy and zulutrade . trade leaders investment program edit in october 2010 currensee launched their trade leaders investment program tlip . investors in the tlip selected the trade leader or trade leaders whose trades they wanted to follow and execute in their own trading account . trade leaders were selected from the members of the currensee social network via a proprietary algorithm developed by currensee s engineering team and were screened for eligibility based on historical performance risk management and returns . investors in the program selected the trade leaders they wanted to invest in allocate their funds and build trade leader portfolios . whenever a trade leader executed a trade it was mirrored in the investor s own brokerage account . the investors were able to see every trade that was made . the model was similar to that of a stock mutual fund . leaderboard and the trader authority index edit the trader leaderboard ranked the top traders in the currensee community based on historical and real time performance . trade leaders featured on currensee s leaderboard were measured against the trader authority index tai . the tai is a proprietary algorithm that combines performance risk and experience into a single index . 12 the tai score was displayed on the currensee trade leaderboard and on every trade leader s profile . tweet my trades edit currensee allowed its members the option of automatically sharing their open and closed positions using the tweet my trades feature using twitter . when a trader executed an order currensee automatically sent a tweet on the trader s behalf . 13 this served a dual purpose as the high volume of daily tweets spread throughout the forex community on twitter extended their reach beyond their own network of users . currensee social indicators edit currensee market watch social indicators is another proprietary element ; this one aggregates the trading knowledge of the network to deliver unique social data . currensee social indicators provided real time aggregate trade information by currency pair along with volume percentage short long and winning losing across the community . members could see which of their trading friends were trading a particular pair and could use that information to make more informed trading decisions . 14 this ability to share amongst a community is a key pillar of successful social networks although it s unknown how effective this data is for new traders . see also edit list of foreign exchange companies references edit currensee and the oanda trade leaders program otlp will cease operation . oanda forex forum . october 31 2014 . powered by google docs pdf . docs.google.com . retrieved 2011 08 12 . a b currensee a support network for traders risking their personal fortunes on the foreign exchange market . retrieved 2011 08 12 . boston business journal by rodney brown 2010 02 23 . currensee cashes in on 8m venture round boston business journal . bizjournals.com . retrieved 2011 08 12 . currensee forex social trading network launches news broker news . brokernewsblog.com . retrieved 2011 08 12 . oanda announces acquisition of social forex trading network . forexbrokernews.com . 2013 09 24 . retrieved 2013 09 27 . https fxtrade.oanda.com community forex forum topic 54009895 currensee offers a social network for forex traders . nuwireinvestor.com . 2009 12 21 . retrieved 2011 08 12 . crosman penny 2009 10 20 . currensee offers facebook like community to lonely foreign exchange traders wall street & technology . wallstreetandtech.com . retrieved 2011 08 12 . cody barbierri 2010 05 14 . currensee hits 1 million trades just six months after launch . venturebeat . retrieved 2011 08 12 . currensee makes foreign currency trading accessible to every investor countingpips forex blog currency trading news . countingpips . 2010 10 29 . retrieved 2011 08 12 . currensee debuts forex trader leader board . www.currensee.com . 2010 04 14 . retrieved 2011 08 12 . tweet my trades real time forex poisitions on twitter . forex crunch . 2010 02 03 . retrieved 2011 08 12 . first social network for forex traders web 2.0 journal . web2.sys con.com . retrieved 2011 08 12 . external links edit currensee retrieved from https en.wikipedia.org w index.php title currensee & oldid 730661083 categories foreign exchange companiessocial networking serviceshidden categories wikipedia articles with possible conflicts of interest from march 2013articles with a promotional tone from january 2011all articles with a promotional tone navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload 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