Leading multi-asset brokerage firm FXCM plans to roll out, as part of an upgrade, a number of new features for its core trading platform that will provide transparency and enhanced trading tools to support investors’ trading decision-making process. The US-based firm reported to FortuneZ that the schedule upgrade, the first of 2015, will include key indicators that provide useful insight into FX order flow for 14 currency pairs.
With technology playing a key role in the make-up of electronic trading, advancements in trading platforms are essential for firms and traders to stay up to date with market developments. FXCM’s latest upgrade combines new features and indicators that provide traders with enhanced information when planning trades.
A spokesperson commented about the changes in an emailed statement to FortuneZ: “The latest update to Trading Station provides a number of exciting new features to enhance our users’ trading experience.”
“The update will be available to download from January 16th 2015,” the spokesperson adds, “and ensures greater transparency and improved functionality.”
According to details issued in a client note, the firm will be introducing five new indicators that give a reflection of market sentiment and trading activity. The indicators include: Real Volume, Transaction, Directional Real Volume, On Balance Real Volume and a Market Movers Index.
“The Real Volume and Transaction Indicators, one of five innovative new behaviour indicators, offers users a unique insight into actual order flow on 14 of the most popular currency pairs, allowing them to accurately assess market sentiment and develop their strategies.”
The upgrades also give users the ability to set entry order expirations to any future time, show or hide candle graphs and run reports in the user’s own time zone.
“We’ve also added a number of upgrades to optimise the user experience and improve order execution. Users can now add a specific expiration date to their orders, enhancing account control and risk management,” adds the spokesperson.
FXCM has been one of the best performing international retail FX brokers of 2014 with the latter months showing strong volume metrics. The firm crossed $20 billion in average daily trading volumes and surpassed several records in the last quarter of 2014.