FX Interface Simplifications

I think there’s a few UI improvements that could be made to make FX easier to work with.

Two suggestions that might help more advanced users.

  • With the wide bid/offers, the FX grid is not that useful now. Instead, a grid of best bid/offer would be more informative (at least for people who get the conventions). Giving the spread as a percentage would also help. If people see where the tightest market is, they might congregate there more, helping liquidity.
  • On the order screen, it should list the best bid or offer that you would execute against.

Then, a greater simplification is to create an “easy FX mode.” The user picks the currency they are buying, the one that they are selling, and then they see a unified order book based on consistent pricing across the two quote conventions. (Every order price is translated into the same convention.)They then buy/sell into the market with the best price on the opposite side of the trade, and the lot sizing is automatically set for that convention. The only trick I see is a new order coming in, flipping which market has best pricing while in the middle of setting the order.

We should also mimic real-life and not have both CIS/NCC and NCC/CIS… should just pick a “primary” currency of each pair and always quote it that way. This is how real FX works and concentrates liquidity. Would double the orders on each pair instantly.

The input screen is already useful for this adaptation as there’s tab for buying and tab for selling to be clear what you are doing. The change just needs to be in having all orders stored on same pair.


1 Like

The lot sizing is what breaks the symmetry. If there were better indications of liquidity, players should tend to favour one direction on their own.