FXCM Group reported on Monday it has launched FXCM Market Scanner, a new scanning tool for the forex and contracts for difference (CFDs) markets. The tool displays the five strongest data signals (buy or sell), based on the top seven indicators.
The scanner provides data for a short period of time (15 minutes), medium (1 hour) and long term (1 day).
“With the FXCM Market Scanner, traders can find potential trading opportunities in real-time by screening Forex and CFDs with preferred technical parameters. While an opportunity may seem compelling in the short term, medium or long-term, analysis may suggest otherwise with this new trading tool,” the broker said in a notice.
FXCM Group is the holding company of the FXCM group of companies. It is majority-owned by Global Brokerage Inc., formerly known as FXCM Inc. and 49.9% owned by US lender Leucadia National Corp. The group operates via several subsidiaries, including UK-licensed Forex Capital Markets Ltd. and Australia-regulated FXCM Australia Pty. Ltd. Until recently, it had a US unit (which was the leading local market player), but it was forced out of the country for taking positions against customer. The broker sold its US clients to peer Gain Capital.
FXCM provides both retail and institutional services.