An online trading community offers participating members a structured way of indulging in trade or selling goods and services in an efficient and cost-effective way and with a lot of choice by having forums and chatrooms created to allow interaction between the members. There are various online trading communities such as Commuto, eBay, and Craiglist. Excepting eBay, which agrees to cash receipts for all products, Game Trading Zone was one of the earliest trading sites on the Internet.
There are formal trading communities and informal trading communities. A formal trading community comprises a website or network of websites that allow and keep a track of trade transactions. Major components of formal trading communities include transactional tracking, trade today ratings and feedback system , and content listing and referencing.
Under informal trading communities, there are several community based websites with a wider scope, which offer themselves to trading. These are Craigs List that posts personal advertisements and 1UP which facilitates publication of news and videos.
Online trading community caters to various kinds of trades such as commodity trading, stock trading, forex trading, and online options trading. Finance has taken a whole new look through online stock trading services, with diverse options being available in the online stock trading industry. Online options trading is also fast gaining popularity and is quite like futures trading, with both involving stocks buying process at an already decided prices and their sale in the marketplace at a price higher than they were purchased at.
Furthermore, with ever increasing improvements of the Internet, which lead to the advent of online trading community, commodities trading online has also become possible. Commodities trading online deals with agricultural products such as sugar, corn, and malt in a major way. It deals in comparatively different products unlike the stock market which looks after financial instruments such as stock, bonds, securities, interest rates etc.