FXCM announced today that it will launch a “groundbreaking” real-time, real volume indicator on its Trading Station platform. According to the company, the indicator is currently being tested and will only be officially launched in the coming weeks but is already available online.
The new indicator add-on will provide users with real volume being traded on the FXCM retail platforms for the top 14 currency pairs. Along with volume, the indicator will also provide transaction numbers for the pairs. Until now, Forex volume indicators have only shown tick volume with nothing about actual order flow.
How to Generate Leads Outside of the Box?Go to article >>
About two weeks ago, on June 2, KCG Hotspot announced it will begin to publish daily volume reports of trading on its platform. FXCM was fast to follow and time will tell if this is a trend that all brokers will soon adopt. Such a trend will hopefully bring a higher level of transparency to the retail FX market.
Retail beginning traders in FX have often asked for volume indicators, especially those coming over from day trading stocks and options, now FXCM’s Real Volume/Transactions Indicator will be able to provide it to clients. FXCM will also be publishing the volume data for the top 14 traded currency pairs and transaction numbers twice a day on its financial news website DailyFX, starting today.
Drew Niv, the CEO of FXCM, commented on the announcement: “This is the first in a series of new advanced trading analytics that FXCM will be releasing. Over the past year on average, FXCM does over $15 billion in retail trading volume a day on over 400 thousand transactions, providing a free indicator of this nature to sophisticated short-term traders is a game changer in the retail FX space.”