Formulating amateurish decisions can prove to be detrimental for FX traders. This market is characterized by high leverage. Furthermore, traders are frequently vulnerable to so-called “margin calls.” There are also other risks produced by unexpected twists in the marketplace. The good news is FOREX traders can use trading tools that will help them make informed decisions that can be more rewarding.
Tools from UFX.com offer provide useful information and options for investors. Advanced charts are among the favorite instruments of traders who adhere to fundamental analysis. The platform’s chart station introduces real-time and chronological information which are conveniently shown on bar, line and candlestick diagrams. There are single, thin as well as chart stations.
Autochartist translates concurrent charting information and puts it side by side with historical data scenarios. This can pinpoint trading patterns that can generate profit opportunities. With this tool, FOREX traders can view patterns and apply specific constraints and features on market orders. This trading widget comes in as a risk management implement considering that these keep them out of the market for brief periods as precautionary measure. On the other hand, Fibonacci calculator can locate support and resistance tiers. It is also capable of comparing trends and computing opposite price movements and extension points.
The widget refers to a minor application with restricted functionality. It has been designed so users can put it on their websites. This grants access to widgets application without having to access the sites of widgets designers. UFX.com created four widgets allowing their clients to access four vital tools. These enable them to carry out essential financial tasks related to trading.
The Live Currency Rates Widget will make sure that investors are updated about current market prices for all assets which can be transacted on the UFX.com trading platform. The table displays the following: asset name; current and opening prices change on the day in pips; and, change for the day as percentage. This particular instrument is particularly useful if you are not logged into trading platforms.
The currency converter exchanges one currency into another legal tender. The widget is mainly an interactive form with multiple fields. One is for selecting currency you intend to convert. Another field is for choosing currency that will be converted to. Another field specifies the number of currency units for conversion. The current price for the selected currency pair is displayed until you key in the units you convert. The price is substituted by the quantity of units of the new note.
The PIP Calculator computes the USD value of one pip according to the deal size that you enter. The calculator records all assets for trading on the UFX.com platform along with the existing market price. Simply put in the amount you wish to trade and it gauges the value of one pip price change.