In the wake of the 2008 collapse, financial services firms need to think more about the role they play in the global economy, and how they can align their profit incentive with a positive contribution to the world.
San Francisco, CA (PRWEB) April 13, 2011
InformedTrades the online school for traders with the largest collection of free courses, has launched a new initiative designed to raise funds for charity. InformedTrades Charity Funds will be used to raise money to trade the world's foreign exchange markets. Once a pre-determined profit target has been reached, the funds will be liquidated and proceeds will be donated to the specified charities InformedTrades has selected.
The specific protocol for how funds will be raised, traded, and distributed is as follows:
1. Visitors come to InformedTrades and register as members.
2. Members can purchase InformedPoints, the community currency pegged to a currency trading account managed by community founder and central banker Simit Patel. Members can also earn Points by making contributions to the community.
3. Points can then be donated to specific Charity Funds listed on InformedTrades. The Points will accumulate in the fund until a target exchange rate between InformedPoints and US dollars is reached; then InformedPoints will be converted into US dollars and donated. In this way, the foreign exchange trading used to manage the value of InformedPoints can be used to generate greater donations for charity.
4. InformedTrades deducts 3% of the final converted amount to help cover the cost of its operations.
Currently, InformedTrades focuses on raising funds for two charities: Kiva and Givology. Funds are consistently re-loaned to entrepreneurs on Kiva that are a part of group banks -- organizations in which entrepreneurs band together to form their own monetary union. Givology, on the other hand, focuses on funding educational projects. "Both these charities were selected because of their relevance to InformedTrades," said InformedTrades founder Simit Patel. "The group banks on Kiva are a way the global banking industry can be re-built which in turn can contribute to safer and sounder financial markets for traders to participate in. And as InformedTrades' mission statement is rooted in trader education, Givology's focus on education resonates."
InformedTrades is also looking for additional sponsors to help advance this agenda. "We're fortunate to have great sponsors like Forex Capital Markets, ThinkOrSwim, and Top Dog Trading that support this initiative," Patel said. "We're looking to partner with more honest financial services firms interested in using financial markets to make a positive impact in the world. In the wake of the 2008 collapse, financial services firms need to think more about the role they play in the global economy, and how they can align their profit incentive with a positive contribution to the world."
To learn more about InformedTrades Charity Funds, visit InformedTrades.com.
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