Automated analytics tool and FX social community myfxbook has added a further section to its product offering today.
The new section is called Liquidity and is displayed in the form of a chart based on a series of data from multiple brokers and currencies.
This upgrade represents the second additional service to be added to myfxbook within the last few weeks, as the company integrated its service to Spotware Systems cTrader in July, in order to provide social trading and analytics to users of the platform.
Big Data, News, Sentiment Analytics & NLPGo to article >>
With the addition of the liquidity charts, users are provided with an ergonomically effective means of analyzing and estimating liquidity on a market-wide basis, and to compare FX liquidity averages of different sessions.
In addition, the firm has entered into a strategic alliance with Australian FX broker Pepperstone, in order to offer an account which can be traded automatically. As part of the firm’s existing AutoTrade service, this is automatically synchronized with a connected trading account, thus replicating each order.
Whilst the AutoTrade facility itself is not entirely new, it was launched relatively recently and is in its inaugural stages, with Pepperstone being the latest broker to integrate it. The cost of the service is dependent on the type of account, and broker. With some brokers it is completely free while with others there is a small markup spread depending on the business model of each broker.