IG Markets has launched a new platform designed to help traders research markets events and analyse data. The new research software application which IG has dubbed as the new Insight platform is a centralised platform encompassing market data, live news and expert analysis on the financial markets.
With Insight you can:
- Access the economic calendar to track global financial events
- View client sentiment indicators, for a summary of IG clients’ positions
- See live Reuters news, filtered by market or region
- Get expert opinion on news, events and market movements
- Track and analyse historic data with our versatile in-page charts package
Insight is customisable and linked to IG’s web dealing platform, with dealing functions ranging from watchlists to working orders embedded in you analysis, including instant charts, streaming news from Thomson Reuters, corporate fundamentals and more.
Insight provides clients with a perspective on the most traded markets at IG, in particular how many people are long or short of a specific instrument and what other markets they have dealt.
This is because the application is designed to release details of IG’s clients’ net aggregate positions allowing better collaboration amongst traders. All data is anonymous and individual trades are not reported, but clients can check the percentage of long or short trades, other trades held by clients trading a particular market, the most popular markets overall, and more.
David Jones of IG Index stated that clients have been grabbed by aggregate trade data: ‘Clearly this can be used to gauge the sentiment of fellow traders and decide whether you want to join them – or if they are all barking up the wrong tree and you want to use it as a contrary indicator.’
We are told that with Insight you can also deal directly from any market page or chart. Christopher Beauchamp of IG Index believes ‘increased information about how other traders are positioned will also develop.’ He says traditional bulletin boards have provided traders with a place to share their thoughts and views (with the usual caveats about bias), but there are new ways of learning from others.
To access Insight, just log onto your IG account and click the ‘Insight’ button.