VARIANSE, a London-based forex and CFD broker, announced on Wednesday its partnership with Market EarlyBird, a company that provides Twitter-based analysis of financial market products.
This will allow brokerage clients to download the EarlyBird Twitter plug-in on the MetaTrader 4 trading platform.
Commenting on the partnership, VARIANSE UK CEO Rohit Mirbury said: “We are excited to partner with EarlyBird and to be the first to enter the market for real value Twitter, which goes beyond the platform’s public news feeds and is of limited value to the individual investor.”
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Market EarlyBird uses a natural language processing engine and artificial intelligence algorithms to filter and analyze tweets on financial products. It provides a comprehensive picture of the markets based on social media sentiment for retail traders and professional traders.
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The company’s analysis tools were already available to major banks and mutual funds. But with the latest partnership, the tool will also become available to retailers.
“We know that retailers have limited access to the rich and diverse range of news sources that banks and funds enjoy,” said Danny Watkins, CEO of Market EarlyBird. “The VARIANSE integration of EarlyBird helps level the playing field, making its customers better informed and enabling them to trade.”
VARIANSE is headquartered in London and operates within the country under license from the Financial Conduct Authority (FCA). The broker also provides services to global retailers on a larger scale through its licenses from FSC in Mauritius and LFSA in Malaysia.
The merger came at a time of fierce competition between brokerage firms. While some are enhancing their services through technology integration and product addition, others are expanding their geographic reach.
