Varengold Bank FX, a German investment bank, now enables its clients to access Currensee’s trade leaders. Forex traders  will be able to allocate money and automatically follow the trade leaders, riding on their success.
It will be interesting to see other brokers make this kind of cooperation with Currensee – enabling traders to tap into the trade leaders program. Want to join the program? Start here.
Here’s the official press release:
Currensee Announces Partnership with Varengold Bank FX
Brings Benefits of Trade Leaders Investment Program to German Investors through Varengold Platform
BOSTON, Dec. 2, 2010 – Currensee Inc., www.currensee.com, the new way to invest in world currency markets, today extended its Currensee Trade Leaders™ Investment Program into Germany through a newly established partnership with German investment bank, Varengold Bank FX. The Currensee Trade Leaders Investment Program, which launched globally in October of this year, opens the foreign exchange (Forex) market to a wider investment audience, allowing private investors to follow and automatically execute the trades of some of the most successful traders from the Currensee Forex trading social network. Through the new partnership, Varengold customers will be able to build an automated portfolio of top performing foreign exchange traders, called Trade Leaders, and replicate their successes without having to become experts in foreign currency trading.
Now, German Forex traders and investors can leverage the Currensee Trade Leaders Investment Program to take advantage of the explosive growth in Forex, which experienced an average daily turnover estimated at $3.98 trillion and 20 percent growth from 2007 to 2010. The impressive rebound of the German economy has been a key factor in the rapid growth of the German Forex market. As reported by the Federal Statistical Office in August 2010, the gross domestic product (GDP) in Germany rose by 2.2 percent in the second quarter of 2010, which is the highest quarter-over-quarter growth for the country.
Investors in the Trade Leaders Investment Program create an automated portfolio of Trade Leaders. Currensee Trade Leaders are carefully selected from the more than 7,000-member Currensee Forex trading social network, which trades more than $50 billion in volume annually. Trade Leaders are carefully screened for historical performance, risk management and returns versus the S&P 500. Investors select and follow the Trade Leaders they want to invest in, add them to their portfolio and Currensee automatically executes the Trade Leaders’ trades in the investor’s account. Investors access robust trade and performance metrics in real time and always maintain full control of their account.
“Germany is one of the fastest growing financial centers in the world, and our partnership with Varengold puts us at the center of the action,†said Dave Lemont, CEO of Currensee. “Varengold is a well-established and trusted bank, and we’re excited to give German investors the opportunity to invest in Trade Leaders and take full advantage of the transparency and control of real performance, real-time metrics and full security and account control.â€
Trade Leaders are ranked by their Currensee Trader Authority Index™ (TAI) score, a proprietary algorithm that combines performance, risk and experience into a single index. TAI is displayed on the Currensee Trader Leaderboard and on every Trade Leader’s profile. Currensee assesses each Trade Leader’s risk management strategy, background and ability to perform for investors prior to accepting a Trade Leader into the program. Once in the program, every Trade Leader’s performance and trading is reviewed on a daily basis to ensure the leader continues to achieve performance and risk targets. Trade Leaders are compensated only on successful trading for investors and are able to create a revenue stream from trading without changing their existing businesses.
“Varengold has always been at the cutting edge of Forex trading and investing innovation,†said Yasin Qureshi, CEO of Varengold Bank FX. “We believe German investors will appreciate the ease and transparency of social investing via the Currensee Trade Leaders Investment Program and look forward to the opportunity to grow our business with Currensee.â€
About Currensee
Currensee.com puts the power of investing in world currency markets in the hands of every investor. With the Currensee Trade Leaders™ Investment Program, investors follow and automatically execute the trades of top Currensee traders called Trade Leaders. Currensee Trade Leaders are handpicked from the thousands of members of the Currensee Forex trading social network and carefully screened for historical performance, risk management and returns versus the S&P 500. By investing in Trade Leaders, investors build their own personal automated Trade Leaders portfolios and have complete control over their investments at all times. Currensee strives to deliver profitability, transparency and control to investors around the world. Currensee is funded by North Bridge Venture Partners, Egan-Managed Capital and Vernon & Park Capital and is a member of the National Futures Association (NFA) and registered by the Financial Services Authority (FSA). For more information, visit us atwww.currensee.com. Find us on Facebook, follow us on Twitter, and watch us on YouTube. It’s time to invest in the success of top currency traders.
About Varengold
Varengold Wertpapierhandelsbank AG is a German investment bank offering Asset Management and Capital-Markets-Brokerage. Varengold is a global FX player with clients from over 85 different countries and a range of selected partners including banks, brokers, hedge funds and assets managers. Varengold manages funds from retail and institutional investors in customised managed futures products authorised for public sale. Varengold achieved strong trading results ever since its foundation thanks to its experience and expertise. Seeking to offer transparent, high-performing and liquid financial products, Varengold is one of the most prominent and successful asset managers in its class in the world. Varengold Wertpapierhandelsbank AG (ISIN DE0005479307) has been listed on the Entry Standard of Deutsche Börse in Frankfurt since the 20th of March 2007 and registered with the German Federal Financial Supervisory Authority (BaFin). More information on the company can be found at www.varengoldbankfx.com and www.varengold.de.
Full Disclosure: I’m affiliated with Currensee.
