New feature provides traders a graphical and statistical snapshot of the Forex market
Salt Lake City, July 8, 2008 – Interbank FX (IBFX.com), a worldwide provider of online foreign currency (Forex) trading, today unveiled the most recent addition to the company's notable offering of free online trading tools-IBFX PowerStats.
As one of 13 custom tools in IBFX's ever growing trading arsenal, PowerStats permits traders to learn more about the behavior of a given currency pair and see its average percentage interest point (pip) movement, thus allowing them to set daily goals as well as "stops" and "take profits" on their trades. In currency trading, a pip is the equivalent of a tick or point in the stock market.
"PowerStats allows traders to drill down into the Forex market and see the average pip movement for day-of-week, and then drill down even further to see how much they range by hour of each day," explained IBFX Marketing Director Marilyn McDonald. "It tracks how many consecutive pairs of bullish or bearish bars a currency pair has, as well as the movement and occurrences of those consecutive bars. Essentially, it provides Forex traders the information they need to develop a solid, well thought out trading plan."
PowerStats is divided into two formats:
IBFX PowerStats BASIC is available free of charge to anyone on the IBFX.com Website under the "Trading Tools" tab. It provides basic daily market statistics analyzed over a 6 month period. These measurements provide solid historical benchmarks that characterize the Forex market.
IBFX PowerStats ADVANCED is provided free of charge to all live IBFX account customers, and provides up-to-date daily and intra-day market statistics that are calculated over various sample sizes. These measurements provide meaningful historical benchmarks as well as accurate descriptions of current Forex market conditions.
To learn more about IBFX PowerStats or to open a free Forex practice account, visit www.IBFX.com.
Interbank FX / IBFX.com was named Best Foreign Exchange Broker at the 2007 Shares Awards.
About Interbank FX
Headquartered in Salt Lake City, UT, Interbank FX, LLC (IBFX.com) is a leading provider of online forex trading services, offering individual traders, fund managers and institutional customers proprietary technology and tools to trade spot foreign currency online.
Unlike other retail FX brokers, IBFX has distinguished itself as an industry leader with its proprietary tools and services and focus on customer care. This has led to numerous awards and industry accolades that IBFX has compiled. The recognition includes Best Online FX Provider, Best Foreign Exchange Broker, Best Chairman, Ernst and Young Entrepreneur of the Year, and Inc 500.
Interbank FX serves over 27,000 clients from more than 140 countries and supports trading volume in excess of US$70 billion per month. The company is regulated as a Forex Dealer Member by the National Futures Association and is also registered with the Commodity Futures Trading Commission as a Futures Commission Merchant. Trading in the off-exchange retail foreign currency market is one of the riskiest forms of investing and should only be attempted by experienced traders.