IG Group, the UK’s largest margin trading broker has partnered with Signal Centre to offer new online trade ideas and signals service.
What is IG offering with Signal Centre?
IG already had an exsiting relationship with Signal Centre and had previously offered its output to clients via a website.
However, the new tools are designed to run as Expert Advisors, or EA’s, within the Metaquotes platforms, bringing ideas and signals directly to the trading coal face.
Signal Centre is an FCA regulated business that was founded back in 2007 as an independent research firm, that was itself recently acquired by Acuity.
The firm is managed by professional traders and technical analysts, Steve O’Hare and Joe Neighbour, who have around 45 years of market experience between them.
Signal Centre uses a mixture of AI and human analysis to generate trading ideas and signals across a wide variety of financial markets.
Those signals and trade ideas can now be viewed as potential orders by IG’s Metatrader clients, if they choose to download and activate the Signal Centre EA.
Why has IG launched Signal Centre?
CFD Brokers like IG are always looking to add value to their offering in order to differentiate themselves from the competition, and to reduce customer churn.
The cost and effort of acquiring new clients can be one of the most significant overheads that margin trading brokers face, and tools that encourage them to stick around are sought after.
Stonex International, the US parent company of Gain Capital and City Index, recently acquired Dublin based trading performance and psychology start-up Chasing Returns. A business that was founded by former JP Morgan Risk Manager Ann Hunt.
Chasing Returns aims to improve traders PnL outcomes by rewarding positive actions and rule following, and removing poor thinking and trading behaviour; The service is now available to all City Index clients, free of charge.
Earlier this year IG Group spent $1.0 billion on US options broker and educational platform TastyTrade, who try to explain the world of options trading, to retail clients, by breaking down complex trades and concepts into bite size pieces.
To date many of the tools that brokers have provided to their retail clients have largely been generic gimmicks, that offered little real added value or differentiation.
However, that may now be changing for the better and that’s good news as far as we at the Good Money Guide are concerned.
What is Signal Centre?
What Signal Centre does is aggregate the trading signals from various providers like Trading Central, Auto Chartist and PIA First. It’s a nice screen to have open and shows trades that can be filtered by time scale such as intra-day, short, medium and long term.
It does’t just say buy or sell, but rather gives entry points at which a trade would become appealing. This should help with your spread betting strategy.
As always IG like to make it easy for their customers to trade so you can deal from the signal window or dig deeper for more information
In the past, IG launched a discounted stock broking service so customers could use equities as collateral for spread betting. Their insight research and sentiment platforms gives a good overview of fundamental and technical data and information on charts. The sentiment screens show whether other clients are long or short a specific index, stock or FX pair.