As last week drew to a close, British multi-asset electronic trading company IG Group (IGG:L) launched its new Signal Center to a wave of tumultuous silence.
The Signal Center, which is integrated into IG Group’s proprietary platform, was announced in the form of a video on IG Group’s website, which detailed that the new service can provide trading ideas from two different providers.
One such provider is AutoChartist, a firm which, led by industry aficionado Ilan Azbel, mathematically generates trading signals, and the other provider is PIA First, which is host to a series of analysts who provide their expertise in the form of a signal which can be followed by retail traders.
Ivan Gowan, Head of IT Development at IG Group explained that “The signals are pushed to the platform from our servers as and when they come in. They are in the platform within a second, and you can navigate through a series of signals which are on particular instruments.”
He continued “Each signal comes with a chart that shows where the opportunity is, with a bit of analysis. From there, you can launch directly into a deal ticket, and trade on that opportunity. Popping open each signal also provides a more detailed analysis.”
In terms of functionality, IG Group has added a new button on the top right hand side of its platform, which is labeled Signal Center.
Whilst the launch of this service was quiet, the addition of signals and copy trading functionality by many FX firms has been an object of corporate necessity over recent times, with companies relying on such aspects to engage traders and ensure that they have a longer lifetime value as well as generate more volume, especially in today’s world of high acquisition costs.
In the light of IG Group’s peer City Index having been the subject of a $118 million acquisition by US FX giant GAIN Capital last week, British firms are very much in a situation by which they retain more than a foothold in this highly competitive CFD and spread betting sector.
For the full video, click here.