FXCM Group announced this Wednesday that it has launched a new service which provides free SMS trading alerts for its clients, in order to give traders another way to spot potential opportunities.
The new service launched by the online foreign exchange (forex) and contracts for difference (CFD) trading provider covers shares, FX, gold, and other tradable instruments available at FXCM.
As part of the new service, clients can select the instruments they want to receive signals for. These will be sent to their mobile devices on a daily basis.
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Initially, the service will be available for its clients in the United Kingdom, Australia, Malaysia and South Africa. Additional jurisdictions will be added later in the year, the broker said today.
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According to the statement released by the broker today, each SMS alert text comes with a link to a dedicated page where users can see entry and exit levels, in addition to the duration. Texts will be sent once a pattern has formed and there is a breakout of key levels, the company said.
Commenting on the new service, Brendan Callan, CEO of FXCM said in the statement: “We are always looking for new ways to increase the efficiency and ease of trading for our customers. Sending free SMS trade alerts ensures our customers are always up to date on the latest market moves, making it easier than ever to identify the best trading opportunities.”
FXCM lists the following instruments as available to receive, buy and sell signals: GBP/USD, AUD/USD, EUR/USD, Gold, DAX, S&P, DOW, Bitcoin, Amazon, Netflix, Facebook, Google, Apple, and Tesla.
In the company’s statement, the broker highlights that the SMS service is not intended to be used as investment advice, and urges clients to seek advice from a separate financial advisor.