One of ten free tools Interbank FX offers traders in the off-exchange retail foreign currency (forex) market, the IBFX Instrument Monitor allows traders to look at the broader picture of each currency's relative strength across the board.

"When it comes to trading currencies there are few things that are of greater importance then the ability to make quick, well informed, and calculated decisions," said Todd Crosland, IBFX chairman and president. "Understanding the relative strength or weakness of each currency can make a major difference in your bottom line. The IBFX Instrument Monitor allows traders to make those informed decisions."

The IBFX Instrument Monitor saves you time while performing valuable analysis on your behalf. If a trader was to take the time to open every chart needed to track the individual currencies, too much time might be spent on analysis and a key entry point could be missed.

The IBFX Instrument Monitor tracks the US Dollar (USD), Euro (EUR), Great Britain Pound (GBP), Japanese Yen (JPY), Swiss Franc (CHF), Canadian Dollar (CAD), Australian Dollar (AUD), and the New Zealand Dollar (NZD), all in real time.

To make the IBFX Instrument Monitor easy to read, IBFX uses a colored dot next to each currency to give traders and idea of what the status of that currency is. RED indicates the currency is trending down more than trending up, BLUE indicates the currency is trending up more than down, and BLACK indicates a neutral position.

The IBFX Instrument Monitor is available now for free download. In order to use the tool, traders must have either a live account (full IBFX Instrument Monitor functionality) or a demo account (limited IBFX Instrument Monitor functionality).