ETX Capital have announced the roll-out of a new feature on their English-language websites – a client sentiment mapper.
Spread Betting and Forex clients of the London-based FCA regulated brokerage will now be able to look at a product and see how their fellow traders have been trading it. They are able to view sentiment in a number of different formats.
Traders can look at the general trading sentiment towards a particular product (bullish or bearish).
If you’re considering taking a position on Gold or perhaps thinking about trading on crude oil you are now able to check out an interactive chart to help you quickly and easily assess the direction that other traders are moving towards.
As well as this, traders are able to view the actual price of the product against its sentiment over a given number of days. This allows traders to look at reactions to price fluctuations for a given product.
An example published on the ETX blog is shown using the FX currency pair of EUR/USD:
The chart, sentiment and price direction above shows that they can often move in a similar direction as traders react to movements they can see.
On top of the graphs and charts, the new sentiments section at ETX Capital also includes access to a regularly updated stream of financial news articles. The uniqueness of the system means that these articles change dependent on the product that the user has selected.
Want to find out more about the EUR/USS all you need to do is click on the product in the ‘Markets’ tab and articles about that FX pair will appear in your news feed located on the right-hand side. Example below.
ETX Capital are hoping that this new addition to their website will open up an entirely different aspect of trading to their clients.
