Forex broker OANDA has discontinued the support of the Best Forex Trades of the Day, an analytical tool available on fxLabs, starting 24 November, 2015, the broker said on Wednesday.
The forex dealer came to the decision since trader clients showed no significant interest in the Best Trades of the Day tool. Instead, the company will focus on developing and expanding tools with a higher trader demand.
However, OANDA clients will still have access to OANDA Currency Volatility tool, another tool available in the fxLabs that provides price volatility. According to the broker, OANDA follows trader preferences and, based on their demand, re-evaluates which lab tools to develop further and which ones to discontinue.
fxLabs is OANDA’s blog and marketplace for forex tools, products, and analysis, and training videos and plugins or MetaTrader4, the world’s most popular forex trading platform. Traders can use fxLabs to find compare OANDA’s trades against competitors’, read industry news and charts, as well as economic indicators, among others. The discontinued Best Forex Trades of the Day tool
OANDA is a financial technology company that provides forex and contract for difference (CFDs) trading and currency information services globally.
Saxo Capital Markets, the UK subsidiary of Saxo Bank launched in 2012 in partnership with Bloomberg Link a similar to fxLabs information service for forex trading. In addition, Forex Capital Markets (FXCM) has been a leader in providing forex educational resources for some time.