IG Group, the UK’s largest margin trading broker has partnered with Signal Centre to offer new online trade ideas and signals service.
IG – winner of our award for best spread betting broker in 2020 and 2018 is has increased it’s added value offering again.
Read our full review of IG’s trading platform here
What is IG offering with Signal Centre?
IG has partnered with Signal Centre to bring trading ideas and signals to those IG clients who use the Metaquotes MT4 and MT5 platforms.
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.
You can compare IG to other online trading platforms here
With over 35 years of finance experience, Darren is a highly respected and knowledgeable industry expert. With an extensive career covering trading, sales, analytics and research, he has a vast knowledge covering every aspect of the financial markets.
During his career, Darren has acted for and advised major hedge funds and investment banks such as GLG, Thames River, Ruby Capital and CQS, Dresdner Kleinwort and HSBC.
In addition to the financial analysis and commentary he provides as an editor at GoodMoneyGuide.com, his work has been featured in publications including Fool.co.uk.
As well as extensive experience of writing financial commentary, he previously worked as a Market Research & Client Relationships Manager at Admiral Markets UK Ltd, before providing expert insights as a market analyst at Pepperstone.
Darren is an expert in areas like currency, CFDs, equities and derivatives and has authored over 260 guides on GoodMoneyGuide.com.
He has an aptitude for explaining trading concepts in a way that newcomers can understand, such as this guide to day trading Forex at Pepperstone.com
Darren has done interviews and analysis for companies like Queso, including an interview on technical trading levels.
A well known authority in the industry, he has provided interviews on Bloomberg (UK), CNBC (UK) Reuters (UK), Tiptv (UK), BNN (Canada) and Asharq Bloomberg Arabia.
