IG Markets Launches Autochartist Chart Pattern Recognition Tool

Following the trend of all brokers offering the Autochartist tool to their clients, IG Markets is doing the same.

In June 2009 GFT added Autochartist, in September 2009 it was eToro and in November 2009 it was Alpari UK. Something is working right at Autochartist as they seem to sign deals with many of the leading brokers.

Autochartist also lists CMS Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term, FXDD, Forex Club, Citi and InterbankFX amongst its clients.

This is the PR:

CFD Trading company, IG Markets is pleased to launch Autochartist, a chart pattern recognition tool that monitors the markets on your behalf. One of the greatest features of the package is that it has a straightforward, user-friendly web interface and plain English instruction manual, making it easy for clients to recognise chart patterns.

Key Facts:

• Autochartist is a chart pattern recognition tool that monitors the markets on your behalf
• Autochartist automatically alerts you when emerging trends indicate potential CFD trading opportunities
• IG Markets is the first CFD provider to offer this technology in Australia

Autochartist offers a powerful range of functionality which traders can customise to fit their needs. Clients can create personalised searches to identify 16 different types of chart pattern, or 4 types of Fibonacci pattern. The technology can be used to scan all CFD markets that IG Markets offers including indices, forex, shares, energies and metals.

Mr Tamas Szabo, Chief Executive Officer, IG Markets says “We are thrilled to be the first CFD provider in both Australia and New Zealand to offer this seamlessly integrated web-based chart pattern recognition tool. Our evidence suggests that CFD and forex traders are particularly keen adopters of charting analysis, and this tool should be of great benefit to them. Autochartist is available to all IG Markets clients, free of charge, on our award-winning PureDeal platform.”

“One of the greatest features of the package is that it has a straightforward, user-friendly web interface and plain English instruction manual, making it easy for clients to recognise chart patterns and use them to guide their CFD and Forex Trading Forex Trading Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Forex trading is the buying and selling of foreign currencies with the aim of generating a profit. The value of currencies, especially floating currencies, fluctuate to varying degrees. This constant volatility of exchange rates opens the door for speculators to invest in a certain currency against another. The Forex market is the world’s biggest and most liquid market, with over $5 billion turnover every single day, with the market being open 24 hours a day, 5 days a week.It goes without saying Read this Term decisions, even if technical analysis is unfamiliar to them. The technology can also alert you when emerging trends indicate potential trading opportunities in your selected CFD or forex markets, hence providing the benefit of freeing clients from the time-consuming process of scrutinising and analysing charts.”

With the help of Autochartist, clients can:

• Anticipate and react to the elements of trend, support and resistance patterns
• Use emerging patterns to take a proactive approach to dealing
• Identify the best pattern alerts using Quality Indicators
• Capitalise on indecision and confusion in the markets by interpreting non-trending patterns.

“IG Markets is committed to offering clients the very best trading tools to help them with their CFD and forex trading, consistently offering great value through market-leading software and quality pricing. We are thrilled to be able to launch this exciting new feature,” Mr Szabo said.

About IG Markets

IG Markets specialises in financial derivatives, principally Contracts for Difference trading (CFD trading) on over 7,000 global share CFDs, along with indices, forex, commodities, options, binaries and more. IG Markets is part of the IG Group, a UK FTSE 250 member with over 75,000 active clients worldwide. For further information please call 1800 601 799.

Remember that CFDs and forex are leveraged products and can result in losses that exceed your initial deposit. Trading CFDs and forex may not be suitable for everyone, so please ensure that you fully understand the risks involved. Please consider our PDS before you enter into any transaction with us.