Why I ditched generic messaging/chat for Echofin (and why I’ll never go back)

I’ve been trading for years now, and I’ve been involved with just about every promising vertical, from square Forex and commodities trading to crypto currencies. For years, I relied on Whatsapp and Skype to keep in touch with a number of friends I’ve made through social trading. A couple of weeks ago, one of the traders from this loose “team” of ours dropped a few words about a specialized communication solution, dedicated solely to trading, called Echofin.

While I did want to give it a go as soon as I heard about it, I didn’t get around to actually doing it until this past Monday. I figured I had nothing to lose by trying it out. I wasn’t really displeased with the way we had communicated before either.

Sure, sometimes in the middle of a torrid trading session family and friends would pop in, unleashing torrents of emoticons, memes and small-talk upon me, but I tried to keep things separated as much as I could, doing the majority of my social trading over Skype.

Echofin is in an entirely different league of its own though… It’s the difference between wanting to fix the washbasin plumbing with children’s tools or a professional plumber’s toolkit. It’s been created for the job and there’s no substitute for that.

Through Echofin, we have been able to put a number of widgets to use already, even as some of the team members have only now revealed their faces to the group, trough Echofin’s video streaming. Far above and beyond social perks like that though, we have been able to share charts and discuss them, while a few of the more knowledgeable team members have held trading classes, broadcasting their screens and explaining their moves as they were making them.

Apparently, Echofin doesn’t just “allow” such people to monetize their chat rooms, it actively helps out with integrated billing solutions and payment processing.

By getting our entire team to join Echofin, we have already circumvented its biggest drawback, which — for the time being — is adoption.

Would I ever go back to Whatsapp or Skype? Hell to the NO! Echofin is not just proper, trading-focused, undistracted communication. It is an education platform as well as a way for those knowledgeable to finally monetize their skills.

My productivity has skyrocketed since I made the move to Echofin and overall, the group’s results have turned from decent to exciting! I’m actually once again entertaining the idea of going full time into this…