They say that timing is everything. With respect to the retail forex market, particularly in our modern age of so-called real-time information, expediency is critical to respond to shifting market forces. In some instances, it could prove to be the difference between realizing a profit and absorbing a loss.
And for many people, taking stock of current events as they are unfolding plays a significant role in how they form and subsequently execute their forex trading strategy.
Thus, OANDA recently launched fxTradeNOW: the first Google Chrome browser extension that allows users to trade live forex rates from any webpage and without the need to navigate away from the page that they’re on. Once installed into the Chrome browser, fxTradeNOW provides people with direct access to their OANDA trading accounts using a pop-up window they launch from the browser.
Therefore, if a trader is reading the news and they see something happen in the world that might impact the exchange rate between a currency pair, they can quickly open or close a position without having to navigate to the fxTrade site, log in to the full platform, and then execute that trade.
We’re always keen to implement innovative ideas to further enhance fxTrade, OANDA’s online trading platform.
We chose to develop fxTradeNOW for the Google Chrome browser first as we could readily offer it in the Chrome Web Store as a free download. Moreover, we had already gained experience with the Google Chrome environment from developing our Forex Market Hours extension.
OANDA fxTradeNOW’s functionality includes real-time quotes, charting in four different timeframes, and the ability to enter take profit, stop loss, or trailing stop orders. In future releases we plan to include the ability to modify and close trades, set trade defaults, and support for other browsers including Internet Explorer, Mozilla Firefox, and Apple Safari. We expect that these and other additions will be made available in the coming months.
Experienced, professional traders may be seeking more sophisticated features. We are striving to address customer demands as quickly as we can and we’ll soon be rolling out impressive new tools and enhancements that will do precisely that.
But, for certain traders, fxTradeNOW is an ideal solution as it’s essentially a “lite” version of our fxTrade platform that they can leverage to keep up with this fast-moving market.
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