A system and method for proximity based social networking is disclosed between mobile computing devices each having a short range communication (SRC) device using near field magnetic induction. The SRC devices can include at least two antennas to provide magnetic induction diversity. The method comprises defining a proximity boundary with dimensions defined by a communication range of the SRC devices. A proximity signal is communicated in the proximity boundary between the SRC devices. Information can be exchanged between the mobile computing devices based on the settings of a social networking filter module.