Spreadex has added trading signals to its platform, which provide trading suggestions to users based on chart patterns.
The spread betting broker’s new trading signals, provided by third party market scanner Autochartist, give users trade ideas alongside risk management suggestions and take profit levels.
Autochartist, founded in 2004, generates pattern completion graphics based on patterns in historic market data.
The trading signals are driven by two core technical analysis tools: Chart Patterns and Key Levels.
Chart patterns are visual representations of patterns of price movements, which can suggest possible market trends and reversals,
Key levels are suggested points in the market where price movements could change direction.
Spreadex emphasised that while the trading signals are intended to supplement users’ trading they do not guarantee profits and can lead to losses.
The update comes after the firm partnered with TradingView in May this year to offer spread betting capabilities through the latter’s charting interface.
The Good Money Guide’s August review of Spreadex found the company offered “some of the best personal service for large spread betting and CFD traders”.
In the review, Good Money Guide founder Richard Berry noted the platform has “built a reputation for great tech and trading” and is focused on “providing excellent customer service through experienced dealers and a trading platform built from scratch”.
Headquartered in St Albans Hertfordshire the firm was founded in 1999 by ex-city trader Jonathan Hufford.
The company now has some 60,000 account holders and offers access to more than 10,000 financial instruments, including UK small-cap shares.
Robin has more than six years of experience as a financial journalist, most of which were spent at Citywire, and covers the latest developments in the investing, trading and currency transfer space. Outside of work, he enjoys reading literature and philosophy and playing the piano.
You can contact Robin at robin@goodmoneyguide.com
