IG, an electronic trading major, has recently started to offer its traders a new tool dedicated to trading analytics. This tool was developed to help traders evaluate and otherwise improve on their trading performance.

Adding A New Tool

This new tool will be available for direct access to the trading platform. With it, IG plans on enabling their traders to do a range of new services. Traders will be capable of identifying and eliminating trading errors that inevitably cost them money. They will be capable of gaining deeper insights as to why their winning trades and losing trades are what they are, as well. Furthermore, they will be capable of monitoring how much they pay in charges and costs, as well as see the total amount of returns they’ve gained, including the adjustments and fees, as well.

Developing Features for The Traders

The team at IG explained that the incorporation of this feature was to enable their traders to keep building on their various successes in trading. In order to accomplish this, traders need the data that allows them to determine what worked well, what didn’t work well, and what could work if it was refined. They need to be capable of reading this data to an exact degree to enable this. IG explained that it’s this very reason why it will add further extra features, going forward. These features were developed with the goal of increasing the transparency of the trades, with IG continuously working to enhance the tool even more.

This feature will be found within the “live accounts” tab within the My IG menu. A user needs to only select the “trade analytics” options found on the left-hand side of the menu.

Previous Innovations

This wasn’t the first improvement IG has done to itself during the year of 2020, however. Back in February of 2020, IG released a new share dealing platform. This platform was developed to allow for trading in more than 10,000 different kinds of trusts, shares, and investment funds.

This platform allowed traders to add things like markets and watchlists into their personalized workspace, customizing it to their individual needs. Traders were capable of holding multiple workspaces, at their own discretion, and are capable of naming each one for ease of reference. On this platform, users are further capable of browsing all the markets, sorted via popularity, through the left-hand menu. This platform allowed traders to browse through the use of search filters, as well, to try and find that perfect stock or ETF for the trader in question.