FXCM Unveils New Platform and PWA
Posted by Colin Lambert. Last updated: April 13, 2023
Retail FX broker FXCM has partnered with Adaptive Financial Consulting to launch a new trading platform and a progressive web application (PWA) to enable expansion in the number of instruments it supports and improve access to other services.
FXCM says retail trading hit an all-time high earlier this year and makes the claim that “non-institutional market participation” accounts for around 23% of market volume, although it is unclear where that number comes from. In the 2022 global FX turnover report from the Bank for International Settlements – widely seen as the benchmark for FX market activity – retail activity made up just 2.55% of all FX volume and 4.5% of spot volumes.
Notwithstanding that, FXCM says the new platforms are designed to make it even easier for this increasingly important segment of the market to access key markets and provide the tools they need to take advantage of new opportunities. They have been built using React technologies, and the new web-based platform replaces the firm’s previous web platform. FXCM says the project is still in an early beta phase and it is currently working on an array of tools and features which it plans to release in the coming months.
The firm adds that the new progressive web application provides an app-like experience to users, while still being accessible through a web browser, thus removing the need to download and install an app. Instead, the PWA can simply be added to the user’s home screen. It also improves access, particularly for clients in jurisdictions that do not have access to FXCM’s native trading applications in their local stores, and it works offline and in-low quality network conditions.
“Trading technology is constantly changing and as a leading player, it’s vital that we embrace innovation to stay ahead of the competition,” says Brendan Callan, CEO of FXCM. “Our new platform and web-based app provide our clients with the optimal experience and a suite of products and tools they need to succeed. Our team, with the backing of Jefferies, has been working on some exciting developments which we look forward to sharing with the market over the coming months.”