Leading South Africa-based online broker FXCM updated FXCM Plus, its free online clients trading portal. The website features various account monitoring tools to provide traders with more information about markers and their positions.
The enhancements are featured on FXCM’s Trading Analytics 4 suite to include daily percentages, account statistics, and text updates. FXCM has however made the list of tools available to only its account holders on FXCM Plus.
FXCM Plus account holders now have access to several features including trading signals, trading analyzer and the Trading Analytics suite.
The update comes at a time when client competition is high among brokers in the trading markets. Trading platforms are continuously coming up with new ways to attract and retain customers through various competitive means.
Such efforts include providing traders with practical and useful trading tools to make clients’ experience excitable, and trading profitable.
In related FXCM news, the broker recently disposed of DailyFX-its free educational portal- to UK broker, IG Group. This was after IG Group signed a special deal that would allow FXCM to pilot its services to US clients.
However, IG Group later exited the US Market and is no longer using the portal as well.
Trading Companies Are Educating Clients
Majority of online trading platforms invest in stock market education for their clients in different ways. Some offer daily, weekly or monthly newsletters and article on trading topics and market updates. Others go further by enrolling clients in different trading courses before allowing access to services like margin trading.
Like many other brokers, FXCM uses it to perpetuate long-term success of their clients and their businesses. Additionally, increased scrutiny from financial regulators worldwide has necessitated educational efforts. Many inexperienced traders lose fortunes by trading certain high risk high-leveraged financial instruments with little or no knowledge. The scrutiny, especially towards regulated foreign brokers has shown that brokers need to look after their client’s interests.
The European Securities Market Authority (ESMA) updated its retail brokers’ requirements, urging other EU watchdogs to flag down such malpractices. This came after the 2020 boom which resulted in multiple malpractices even from licensed brokers.
- Trading Instrument
Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. If you are interested in following the latest news on the topic, please follow Finance Brokerage on Google News.
View original post