The new symbols list is one of the features included in FXCM's trading software suite Trading Station. The new symbols list is a useful tool for forex traders, giving them the ability to quickly designate specific currency pairings for study and active trade.
The new symbols list's robust functionality streamlines trading operations and provides several unique advantages to active traders:
- Efficiency: Enabling the monitoring of multiple currency pairs by the trader. In addition, all available trading options are readily accessible.
- Organisation: The new symbols list is comprised of all available currency pairs arranged according to their classification. Forex majors, minors, exotics and popularly traded instruments are grouped under the appropriate heading for easy reference.
- Variety: Depending on the type of trading account opened with FXCM, the number of currency pairs available for trade will vary. For Mini accounts, 21 currency pairs are available. Standard and Active Trader accounts furnish access to 39 unique currency pairs.
How To Use The New Symbols List
The new symbols list is a straightforward method of identifying which instruments are available for trade. In addition, it serves as a means of physically selecting (known as "subscribing") the desired instruments.
The process of assigning a currency pair for active trade is relatively user-friendly. For instance, the procedure for using the new symbols list to enable the EUR/USD pair for active trade is as follows:
- Open the new symbols list: From the FXCM Trading Station home screen, select "view" and then "symbols list." This will provide a list of instruments available for trade.
- Identify the desired symbols: Either scroll down through the open list to visually acquire the EUR/USD symbol or type EUR/USD into the search bar.
- Subscribe: Upon locating the pair's symbol, there are two ways in which to subscribe. You can either double-click on the EUR/USD symbol, or right-click on it then select the "subscribe" option from the menu. Depending on system settings, the symbol itself will become blue (the colors are customisable) or bold. Trading Station allows a maximum of 20 symbols to be subscribed to at one time.
- Unsubscribe: In the event that the pair was selected by accident, simply double click on the EUR/USD symbol (expressed in color or bold) or right click on the symbol and select "unsubscribe" from the menu. The EUR/USD symbol will now appear in normal black type. To unsubscribe from all symbols, right-click anywhere on the new symbols list and select "unsubscribe from all symbols" from the menu.
- Close: To close, click on the "x" in the upper right corner.
Upon completion of the process, the EUR/USD is now ready for study or active trade via the Advanced Dealing Rates Tab. Pricing data, charts and trade execution functions are also now available.
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