A new year
2023 started a bit differently than I anticipated. A bit tired from celebrating the new Year I opened up Twitter to find it overloaded with notifications and mentions. Apparently, a Twitter user named @Shortdapos decided to spend new years day on Twitter to explain to the world that kinfo doesn´t include locate fees and therefore it´s fake, fraudulent, and shouldn´t be trusted.
The tweets continued over the next few days with memes and jokes and the notifications kept coming like never before.
Running a disrupting B2C app is a continuous upstream battle against a lot of different forces that work against you. Trying to do something good, like in the case of kinfo, to improve transparency for the trading community comes with its own problems.
If it´s one thing that I have learned it´s..
Seems hard but it´s just how it works and the recent outrage on Twitter is a great example of it.
I know for a fact that most traders who use kinfo love it.
I get a lot of positive feedback from both beginners and experienced traders that find the platform useful and provides a 100%
…sorry @ShortDaPos, I mean 95% verified track record, but we will get to that and why it will be 100% in the future.
Even though I get 100 positive comments to one negative, the negative are still worth attention.
Criticism is good
While I can´t help but wonder why a single person would spend so much time arguing and creating memes, I admire the ambition!
Just because these things are tricky and the actual development is easy peasy I exported all SDPs tweets through the Twitter API.
Oh, man this guy tweets a lot 2958 tweets since august and 129 already in 2023 and those mostly about kinfo and the locate fees.
Running a B2C platform in the trading space with a good cause on top, you have to embrace criticism.
I can only look at it with a positive mindset and figure out what to do next to solve the issue.
In the end, the outcome of the Twitter discussion will be positive, kinfo will get locate fees included and come out as a better platform so I can just thank @ShortDaPos for spending time on Twitter instead of eating pizza on new years day.
The other positive thing is all the free marketing and brand recognition, people may recognize kinfo as a 95% verified platform today but it will be 100% tomorrow.
I am sure someone will find something else to complain about, but that´s for another day.
I talked to a few traders over last days and the hard criticism against them actually hurts.
The traders who are providing services and also share their track record on kinfo may not have had locate fees included but they are still better than the rest who don´t share anything at all or just daily PnL tweets which can be anything at all.
Locates are here to stay
The reason why locate fees haven´t been included it that they are not available from all brokers and when they are available they are just separate records and not linked to any transactions or trades.
As of today locate fees are included in the PnL for Cobra, Guardian & SuccessTrader. These the most popular brokers used by top traders on the kinfo leaderboard.
One broker that currently don´t have locate fees is TradeZero. It has been a highly requested addition and I have passed this on to the team at TradeZero, let´s hope we get this during 2023.
You can view your locate fees separately under reports.
Sometimes a kick in the butt is what´s needed to make improvements that you didn´t see as important.
The addition of locate fees has been planned but other things have been fighting for priority. If anyone now wonders if you can spam twitter to just change the development of kinfo.
No, you can´t. @ShartDapos had a good point regarding the facts bout locates missing.
Including locates is something that is in line with kinfos goals and planned for. Though I had hoped that the wording and discussion around the topic had been different and more positive, especially against the traders that use the kinfo platform for transparency.
Now it´s done so thanks @ShortDaPos and everyone else who chimed in.
The features to collect and display locates are developed and ready for deployment, they will be available over the next few days.
I love getting feedback from users so if you have anything to say, positive, negative or ideas around how I can make kinfo better, please reach out to me.
The best place to reach me is the kinfo discord channel.
Connect here: Kinfo Discord
You can use the comment section below or send an email to karl [at] kinfo.com
I wish you all the best of luck with your trading in 2023 and hope that kinfo can continue to provide value and transparency that is much needed in the trading community.