FXCM Group has announced an update to its free online trading portal for clients, FXCM Plus. The website features a variety of tools deigned to help traders get more information about the marker and their positions.
The company is providing access to the list of tools only to account holders at FXCM. The main enhancements are made to the Trading Analytics 4 suite which now includes account statistics, daily percentage returns and updated texts for analyses.
The FXCM Plus portal for clients features trading signals, a trading analyzer and the aforementioned Trading Analytics suite.
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At a time when brokers are competing for differentiate themselves, firms continue to offer additional features to their clients to improve retention and conversion rates. Providing enough tools to traders can be a good enough competitive advantage when clients are choosing a new brokerage.
FXCM recently sold off its free educational portal DailyFX to IG Group. The UK brokerage signed a special deal allowing FXCM to have access to US clients. However in the aftermath of the broker’s exit from the US market, the company is no longer effectively using the portal.
Educational efforts for companies are vital to the long term success of their clients and the business overall. Increased regulatory scrutiny over the industry has proven in recent months that retail foreign exchange brokers need to primarily look after the interests of their clients.
The boom of unregulated brokers and malpractices among regulated ones have caused numerous updates and reviews of best practices in the industry. The European Securities Markets Authority (ESMA) has updated its requirements for retail brokers and continued urging national regulators across the EU to rein in malpractices by licensed brokers.