Forexbite.com Launches Beginners Choice In Forex Trading

Online, December 6, 2010 (Newswire.com) - Over the last five years the online forex industry has grown leaps and bounds. Traders with their savvy language dominate the industry giving little room for newcomers to participate at a level playing ground. As of December 6th, 2010 that is changing.

Forexbite.com - a website that unlike others in the industry puts the new trader before everyone else. Their business model is simple - understand the present to focus on the tomorrow. Thanks to the internet, tomorrow is dawning pretty fast on everyone, and if you are planning to be relevant in a year or two this might be the way to go.

Obviously they only part of the ecosystem that is constantly on the lookout for new traders who will commit more money each year to fill broker coffers with transaction based money. Forexbite.com is in the sweet spot. They plan on educating those who are unaware about the opportunities in the forex trading markets, preparing them to join a forex broker of their choice. If done well this will be a business model that will funnel ready to trader users to all the brokers who are will to pay handsomely for new customers.

A forex training course, strategies section, blurbs on fundamental, technical analysis and live market commentary for the essence of the site today. The goal is to get all the existing features that players today have on the site over the next six months. Once they are at par with competition, new tactics will follow.

In their own words; "this is just glimpse of what is to come. We are studying user behaviour in the market before rolling out revolutionary products, tools and services in the years to come." Interestingly, they don't see any existing site as a true competitor, simply because the market segment they cater to are clearly distinct. As the founder himself says, "we have a unique opportunity because our target market is literally ignored and not very attractive for others. They perceive the not so financially inclined as difficult to convert to customers. The task is difficult, but its worth trying because the target market is so huge, even a low conversion ratio will present us a sizeable customer base."

I say, the landscape is changing. New entrants in the forex space are creating unique models that are not catered to at this juncture. The industry is so large there is lot of room for expansion for many more to come. However, the pressing questions will be asked years from now when the industry will be saturated.

For now the FXCM IPO and a pending initial offering from Gain Capital is merely setting the tone for the action that is to come in years to come.