Category: Forex

Forex: Top Key Events and Important Technical Thresholds for Currencies This Week

After its sharp fall last week, the Euro Dollar pair timidly tries to bounce back on Monday morning on Forex.

Let us recall that last week, the Dollar had clearly benefited from the Fed meeting which included “hawkish” surprises. This prompted the market to move closer to its rate hike expectations, a mechanically bullish factor for the greenback.

Forex Economic Calendar loaded this week

This week, there are many other events that may still influence the EUR / USD pair. Starting today, ECB President Christine Lagarde will speak at 2:30 p.m. and 4:30 p.m., and her remarks will be closely watched for clues as to the European Central Bank’s forthcoming decisions.

On Tuesday, the most important economic indicator will be sales of existing homes, which are expected to decline slightly for May. On the same day, we will also be monitoring interventions by members of the Fed, with Daly at 5 p.m. and Powell at 8 p.m.

On Wednesday, attention will turn first to Europe, with preliminary PMI indices for June, and more specifically those of Germany and the Eurozone, which have more influence on Forex. In the afternoon, investors will turn their eyes to the United States again, with the June preliminary manufacturing PMI at 3:45 p.m., followed by May new home sales at 4:00 p.m.

On Thursday morning, the IFO German Business Climate Index, due at 10am, will be the first key event of the day to watch. But the SUA will have the busiest schedule, with durable goods orders, final Q1 GDP and weekly jobless claims at 2:30 p.m. The results of the Fed’s bank tests will then be expected in the evening at 10:30 p.m., and could also influence Forex.

Finally, Friday will focus on US household income and spending, as well as the Core PCE index linked to household spending, reputed to be the Fed’s favorite inflation index. The Michigan Consumer Confidence Index will also be monitored.

Technical analysis of major Forex pairs

Regarding the technical thresholds to watch on the major Forex pairs, note that the first obstacle on the way to a possible EUR / USD rebound will be the psychological threshold of 1.19. Then 1.1950 could also be seen as a short term obstacle. But it is only if it returns above the major psychological level of 1.20 that the bearish profile of EUR / USD will begin to ease. On the downside 1.1850 is the first support to consider.

EUR / USD Daily Forex Chart

The USD / JPY, the second most traded currency pair in the Forex market, fell last night, not because of dollar weakness, but because the Japanese Yen strengthened in the face of speculation. linked to the BoJ’s monetary policy. Dollar Yen has since rebounded, and is currently testing psychological resistance at 110. Above, Friday’s peak to 110.50 will be the next hurdle to watch, before another resistance at 110.80.

Finally, GBP / USD is in a similar situation to EUR / USD, hesitating in the short term after plunging last week. The pair is currently testing resistance towards 1.3830 after which it will face another hurdle at the psychological level of 1.39. On the downside, 1.3785 / 1.38 is the first potential support to consider.

Airport squares, fake stocks, forex … these scams to avoid in 2021

Financial investment scams have not abated this year. The AMF and the ACPR call on savers to always be vigilant.

Attention danger ! Financial investment scams will continue in 2021. The ACPR (Prudential Control and Resolution Authority) and the AMF (Financial Markets Authority) have just created a new working group on this subject. “The year 2020 was marked by new methods used by crooks,” Claire Castanet, director of investor relations at the AMF, told a press conference. We are going to strengthen our mutual cooperation and think about the tools to better communicate with savers. “

Identity theft

Since the start of the pandemic, the authorities have noticed a phenomenon of industrialization and sophistication of scams thanks to the rise of digital technology. Crooks now do not hesitate to impersonate well-known financial players. In total, the AMF and the ACPR have identified 560 names of regulated actors used by scammers in the past year. In addition, the number of fraudulent sites, registered on the authorities’ blacklists, has doubled to reach 2,400 names.

Too good investments

What therefore encourage savers to be extremely careful. Among the scams of the moment, we still find investments in airport parking spaces. The crooks use beautiful images and are not shy about spoofing the names of major construction groups to give credit to their proposal. It even seems very attractive with a promise of double-digit return. An investment that also promises security and tax exemption. In short, far too good to be true! The same goes for investments in nursing homes. On the side of more traditional media, there are always fake bank books online with very attractive rates much higher than those of the booklet A.

False actions

As the number of new investors grows, scammers are adapting and attacking new markets as well. This year, the AMF notes the sale of fake equity securities, that is to say shares of companies that do not exist. Investors new to the stock market must therefore be particularly vigilant. Another recurring subject: forex where crooks do not hesitate to offer a very high leverage effect. The craze for cryptocurrencies is also driving the proliferation of fake trading platforms.

Colossal losses

Once trapped, the saver has little chance of recovering the sums involved. Last year, they still amounted to an average of 40,000 euros per defrauded person! The complaints filed are forwarded to justice but it is very rare to find even part of the capital. The crooks are often abroad. “A person who has already been the subject of a scam is then the ideal target to be solicited again,” warns Benoît de Juvigny, secretary general of the AMF. To avoid this situation, be sure to verify the identity of your interlocutor, never place your contact details on online advertising banners and beware of overly tempting proposals.

The euro continues to fall on the forex against the US dollar

EUR / USD falls below 1.1900

The selling pressure around the euro remains in place in the forex and forces the EUR / USD pair to give up further ground and records a new 2 month low in the 1.1870 / 65 area on Friday.

EUR / USD falls on buying US dollars

Widespread liquidation of the risk complex remains the name of the game after the Fed’s hawkish turn at its meeting earlier this week.

In fact, EUR / USD is already down more than 2% since Wednesday’s price action, losing nearly 3 cents to new multi-week lows in the 1.1870 area.

Daily EUR / USD Chart

The euro also did not help the EUR / USD pair on the forex, as minor releases were only on schedule: German producer prices rose 1.5% month-on-month in May. and 7.2% over the past twelve months. In addition, the current account surplus in the enlarged bloc widened slightly to 31.4 billion euros in April.

What to watch around the euro?

EUR / USD drops to new levels below 1.1900 on Friday, again in response to the strong improvement in sentiment surrounding the US dollar exclusively after Wednesday’s FOMC event. In the meantime, support for the euro comes in the form of auspicious results from bloc fundamentals coupled with higher morale, prospects for a strong rebound in economic activity and investor appetite for investment. riskier assets.

High stakes pending: Asymmetric economic recovery in the region. Sustainability of the recovery in inflation figures. Progress of vaccine deployment. Likely political turmoil around the EU Stimulus Fund. German elections. Move investors to European equities.

EUR / USD levels to watch

So far, the EBU / USD pair is losing 0.24% to 1.1876 and a breakout of 1.1867 (June 18 low) would target 1.1835 (March 9 low) and head towards 1.1704 (low from March 21 to March 31). On the other hand, the next hurdle is at 1.1991 (200 day SMA) followed by 1.2035 (100 day SMA) and finally 1.2064 (38.2% Fibo retracement of the November rally. -January).

Pablo Piovano, European economist and editor, joined FXStreet in 2011 after working and managing asset allocation and investment research teams for a number of South American financial institutions.

The opinions expressed here are solely those of the author and do not necessarily reflect the views of Forex Quebec. Every investment and trading move involves risk, you should do your own research when making a decision.

Disclaimer: The information and opinions contained in this report are provided for general information only and do not constitute an offer or a solicitation to buy or sell currency contracts or CFDs. Although the information contained in this document has been taken from sources believed to be reliable, the author does not guarantee its accuracy or completeness, and assumes no responsibility for any direct, indirect or consequential damages that may result from the fact that someone relies on such information.

Forex: Fed shakes currency market as it sets the stage for rate hike

Although no monetary policy decision has been made, last night’s Fed meeting had a resounding impact on Forex, sending the dollar higher.

The EUR / USD for example fell from 1.2115 before the meeting to a low towards 1.1985 last night, a plunge of 130 pips. USD / JPY, which was trading at 109.85 ahead of the FOMC’s announcements, climbed to 110.80 overnight. Finally, the GBP / USD went from 1.41 to 1.3970 within hours as well.

Fed shakes Forex as it begins to prepare for rate hike

The biggest highlight of yesterday’s event was the update of Fed members’ rate projections, via the dot-plot chart, one of the most influential Forex documents.

Fed members are thus anticipating two interest rate hikes by the end of 2023 – sooner than many expected – and have revised inflation estimates upward for the next three years.

“The economy has clearly made progress,” said Powell after a two-day meeting of the Federal Open Market Committee. “You can think of this meeting as the meeting to talk about it, if you like,” he added, referring to the discussion on reducing asset purchases.

Quarterly projections show that 13 of 18 officials support at least one rate hike by the end of 2023, up from seven in March. Eleven of them predict at least two increases by the end of that year. In addition, seven of them were planning a move as early as 2022, compared to four previously.

However, Powell warned that the rate hike talks would be “highly premature,” which hasn’t stopped the dollar from reacting positively to Forex.

Finally, the FOMC raised its forecast for economic growth. Gross domestic product is expected to increase by 7% this year, against an earlier forecast of 6.5%. He kept the expansion forecast for 2022 at 3.3% and raised the estimate for 2023 to 2.4%, from 2.2% in March.

Two banks abandon their bullish view of EUR / USD following the Fed

What can be seen as the Federal Reserve’s hawkish turn has prompted two major banks, Goldman Sachs and Deutsche Bank, to question their forex forecasts, including abandoning their bullish outlook on EUR USD.

“We continue to forecast general weakness in the US dollar, due to the strong valuation of the currency and the broadening of the global economic recovery”, but “the Fed’s more hawkish expectations and the ongoing debate on the reduction bond purchases appear to be a headwind for short dollar short positions, ”said Zach Pandl, the bank’s analyst.

For its part, Deutsche Bank said that there is now “more leeway for a revaluation of real rates at the front of the US yield curve” and also “a place for greater volatility. ”.

“Both of these factors are bullish for the dollar,” she said, adding that “the Fed’s support for the EUR / USD rise is no longer there.”

What objectives on the major Forex pairs?

The most important technical consequence of the Fed meeting last night was the euro dollar test below the major psychological level of 1.20. For now the currency pair is trying to get above this threshold, but the trend remains fragile. A break confirmed below this key level would be a very important bearish technical signal for the Euro dollar and could portend further losses. In this context we will first watch a graphics support located around 1.1950. On the upside, only a return above 1.2060 will begin to question the bearish profile of the euro dollar on an hourly basis.

As for USD / JPY, the 110.80 threshold tested last night along with the psychological threshold of 111 are the next 2 most logical potential bullish targets. On the downside we can identify a first support towards 110.60 before another important threshold at 110.30 then the key psychological threshold of 110.

On the GBP USD, the 1.3970 level is the first major support to watch, before further potential support at 1.3950 and then 1.39. On the upside, a return above the major psychological level of 1.40 would be an encouraging signal. However, to begin to really question the currently bearish bias in hourly data, the GBP USD pair will need to at least cross back above 1.4050 on the forex.

Forex »EUR / USD Pending FOMC Meeting

Pressure persists on EUR / USD but everything revolves around the Fed

EUR / USD is currently trading on the forex around 1.2120, as investors await the US Federal Reserve’s decision. The lack of directional strength has been exacerbated by the lack of fundamental news that could breathe some life into currencies. Ahead of the event, US Treasury yields retreat, while stocks struggle to attract investors.

The EU’s macroeconomic calendar has remained empty, as the US just released May building permits, down 3% on the month, and housing starts, up 3.6%. The US Federal Reserve will likely keep monetary policy unchanged as investors look for clues to future tapering. The central bank will also present new economic projections.

Short-term forex technical outlook for EUR / USD

The short-term image of EUR / USD continues to favor the downside. Technical indicators on the 4 hour chart are heading downward slightly. The Momentum remains around its midline and the RSI is at 43. Meanwhile, the price hovers around the SMA-20 moving average which points down and maintains its downward slope towards longer term moving averages (SMA -100 and SMA-200).

EUR / USD chart 4 hours

Bears could take over from a break below the monthly low at 1.2092, although now everything depends on the Fed.

Support levels: 1.2090 1.2050 1.2010

Resistance levels: 1.2125 1.2160 1.2200

Valeria Bednarik has extensive experience writing technical and fundamental analysis with a particular focus on currencies and commodities. His short but precise pieces cover different aspects of the market, adopting a didactic approach suited to the level of expertise of any reader. She graduated from Universidad Católica del Salvador, Argentina, as a Chartered Accountant, specializing in taxation and cost management.

The opinions expressed here are solely those of the author and do not necessarily reflect the views of Forex Quebec. Every investment and trading move involves risk, you should do your own research when making a decision.

Disclaimer: The information and opinions contained in this report are provided for general information only and do not constitute an offer or a solicitation to buy or sell currency contracts or CFDs. Although the information contained in this document has been taken from sources believed to be reliable, the author does not guarantee its accuracy or completeness, and assumes no responsibility for any direct, indirect or consequential damages that may result from the fact that someone relies on such information.

Forex »USD / CAD Technical Analysis» June 15, 2021

Technical analysis USD / CAD »Gains limited by the upper limit of the trading range

The price of the USD / CAD pair is based on the 200 period Simple Moving Average (SMA) on the 4 hour chart around 1.2125 following the deviation of the sideways market cap that lasted for about a month. Nonetheless, the SMA-50 and SMA-100 moving averages are gradually turning north and if they cross above the SMA-200, this could be a positive sign in the forex for the USD / CAD pair.

That said, the flattening of the Kijun-sen blue line confirms the lack of strength of the last positive momentum, which prevented the USD / CAD pair from recovering further ground. Short-term oscillators currently suggest that positive momentum is weak. The MACD, well above the zero mark, has fallen below its red trigger line as the RSI slips towards the 50 threshold. The Stochastic Oscillator maintains a negative charge near its 20 and n level. has yet to report a resumption of positive pressure.

If the price moves away from the SMA-200 periods at 1.2125, the first upside limits could come from the Tenkan-sen red line at 1.2149 ahead of the 1.2178-1.2202 barrier. Overcoming this limit could propel the price towards the resistance belt of 1.2251 to 1.2270. Conquering that too could spark optimism, with buyers likely heading next to challenge the vital 1.2351-1.2391 buffer zone.

USD / CAD 4 hour chart

Otherwise, an immediate support group from the SMA-200 at 1.2125 to the SMA-50 at 1.2106 could test the sellers’ efforts to lower the price. Not far below is the SMA-100 at 1.2086 and the Ichimoku Cloud followed by a nearer low at 1.2056. Diving from there, sellers could then revisit the 1.1980-1.2012 base, an area encapsulating the 6-year lows and the 1.2000 handful. Going deeper, the price could aim for the low of 1.1933, identified in January 2015.

In conclusion, the neutral bearish tone of the USD / CAD forex pair should remain intact if the bullish price action fails to maintain a decisive rise beyond 1.2178-1.2202.

By Anthony Charalambous, CFTe, XM

Anthony Charalambous joined XM in 2019 and specializes in preparing daily technical analysis, using his years of trading experience to provide detailed forecasts for all major asset classes such as forex, indices, commodities. raw and actions. With over a decade of exposure to the financial markets, Anthony previously worked in the treasury of an international bank. As he rose through the ranks within the bank, his many roles included treasury management, international payments and liquidity management, as well as the management of a full range of foreign exchange products such as than speculative trading with built-in internal strategies.

The opinions expressed here are solely those of the author and do not necessarily reflect the views of Forex Quebec. Every investment and trading move involves risk, you should do your own research when making a decision.

Disclaimer: The information and opinions contained in this report are provided for general information only and do not constitute an offer or a solicitation to buy or sell currency contracts or CFDs. Although the information contained in this document has been taken from sources believed to be reliable, the author does not guarantee its accuracy or completeness, and assumes no responsibility for any direct, indirect or consequential damages that may result from the fact that someone relies on such information.

Forex »USD / NOK currency pair to watch this week

With the Fed and Norges Bank meetings this week, there will be potential forex opportunities for the USD / NOK pair.

It’s FOMC time! The biggest question traders will expect from the FOMC is, “Will the committee start talking about tapering?” Inflation has been higher than expected since the last meeting, with a headline CPI of 5% year-on-year in May. At the April meeting, Jerome Powell continued to say inflation is transient, but several board members recently indicated that perhaps it was time to take a closer look. In addition, the non-farm payroll for April and May was lower than expected and there are still an estimated 7.4 million people who have not returned to work since the pandemic. With the Fed saying it was ready to let inflation soar as it focused on maximizing employment, was this NFP data enough for them to consider a discussion of reducing speed ? The Fed is currently buying $ 120 billion in bonds per month as part of the quantitative easing program. If the FOMC says it is talking about tapering, it needs to get on its tiptoes so as not to provoke a “tantrum tap.” Check out our full guide to the next FOMC meeting HERE. The DXY dollar index made a bullish move on Friday, presumably on squaring positions and reducing short positions ahead of the Fed. Separately, it appears that a bipartisan infrastructure spending plan was agreed upon worth $ 1.2 trillion and does not include social programs (remember Biden was looking for a $ 2 trillion plan .)

Norges Bank is also meeting this week to discuss interest rate policy. They are considered one of the first to raise interest rates as soon as possible. At their previous meeting, the Norwegian central bank said it would continue the current monetary expansion, but it also noted that it would be ready to hike rates around the second half of 2021. Last week, Norway said released inflation data. The year-on-year impression was 2.7% vs. 3.1% expected while the core inflation rate was 1.5% year-on-year vs. 2.1% expected. Will the committee view this as a “one-time” failure, or will it affect its forecast and cause the central bank to push back its rate hike forecast?

On the daily chart, the USD / NOK pair has been stuck since mid-April when the price fell below 8.3800. As a country dominated by crude oil exports, the value of the Norwegian krone is often correlated with the price of oil. However, currently the correlation coefficient between WTI crude oil and the USD / NOK pair is only -0.21, which means that there is almost no correlation between the 2 assets. If Norges Bank is looking for inflation to come from crude oil, it doesn’t get it right now. The price of the USD / NOK pair has fallen on the forex in a downward wedge formation since reaching pandemic highs in March 2020. On May 21, the price drifted sideways out of the wedge. Expectations are that price will retrace the wedge, but so far the pair has not.

Daily USD / NOK Chart

On the 4 hour chart, it is easy to see that since early 2021, the USD / NOK pair has been trading on the forex in 2 very well defined ranges: between 8.38 and 8.68 before April 19 and between 8 , 18 and 8,38 from April 18 to today. The pair have made several attempts to trade outside both ends of these ranges, but continue to fail. Will either central bank meeting this week be able to push USD / NOK above 8.38 or below 8.18. Resistance is at the high of the previous trading range of 8.68. The 200-day moving average sits just above 8.6880. If the Norges Bank stays hawkish than the FOMC, the USD / NOK pair may fall below 8.18, which also happens to merge with the upper downward trendline of the wedge over the daily period, the next level of support. is the lower wedge trendline near 8.08.

USD / NOK 4 hour chart

With 2 central bank meetings this week that could affect the USD / NOK forex pair, there are potential opportunities for a good deal of volatility in this pair.

By Joe Perry, Forex.com »Official Site

Disclaimer: The information and opinions contained in this report are provided for general information only and do not constitute an offer or solicitation regarding the purchase or sale of forex foreign exchange contracts or CFDs. . Although the information contained in this document has been taken from sources believed to be reliable, the author does not guarantee its accuracy or completeness, and assumes no responsibility for any direct, indirect or consequential damages that may result from the fact that someone relies on such information.

Morning Meeting Forex: Dollar strengthens ahead of Fed; EUR / CHF: Test of a bullish slant

Currency Table-Time Horizon: Daily

The dollar remains supported before the Fed on Wednesday

The US dollar ended the week higher against all major currencies, as the greenback’s advance followed high inflation figures on Thursday. Stronger-than-expected consumer confidence also helped boost demand for US dollars ahead of the Federal Reserve’s monetary policy announcement this week which will be the most important event of the week. US policymakers have insisted that the rise in inflation is transient, and that disappointing consumer spending and labor market figures discourage discussions on scaling back the asset purchase program.

The rise in the US dollar and rising Treasury yields tell us that investors expect policymakers to discuss lowering interest rates and subtly change their language to prepare for this eventuality. With the market divided on where the Fed will go, Tuesday’s retail sales report will go a long way in setting expectations for Wednesday’s meeting.

Speculation about the Fed’s easing monetary policy and the European Central Bank’s decision to keep its policy unchanged pushed EUR / USD down on Friday. In the absence of major economic reports on the euro area this week, the euro will be influenced by the market’s appetite for the US dollar. The pound has weakened despite mixed data. Monthly GDP growth and the trade balance were stronger than expected, but industrial production unexpectedly declined.

The New Zealand and Australian dollar were also affected by the greenback’s rise. The kiwi returns to its 200-period moving average and a support line at 0.7116.

EUR / CHF: A break of the bullish slant would take the Swiss euro towards 1.0790

The euro against the Swiss franc continued its correction over the weekend with a bearish candlestick. Prices touched and picked up slightly this morning on a bullish slant, the last bulwark before a signal to change direction in the medium term. A breakout would indeed be very negative and could give a full retracement of the last wave up to 1.0790.

A rebound with a very bullish candle could give rise to a signal of recovery if the 200 period moving average and the support line at 1.0925 are breached.

Evolution of the euro against Swiss franc in daily data:

CONTINUE YOUR READING

DailyFX provides Forex information and technical analysis on trends influencing international currency markets.

Best Trading Platform For Beginners | Forex Professor

With all the options the financial world has to offer, it can be a bit overwhelming to find the best trading platform. That is why we would like to help you find the best Forex broker in 2021.

If you are just starting your trading career, you have come to the right place. We will cover topics related to trading platforms such as regulations, spreads, currencies and many more.

Forex is the most liquid market in the world. It is present all over the world and offers you the opportunity to maximize your earnings through speculation. When you are trading, you can use a variety of trading tools, techniques and strategies. Here you can find out all about how to get started!

Our list of the best Forex trading platform for beginners

Our list of the best Forex trading platform for beginners

We made our choices after rigorous research. Below is our list of the best Forex trading platforms in 2021. These were chosen based on their features, regulations and what they offer their clients.

eToro is a multi-asset platform that offers CFD and non-CFD products.

What is a Forex trading platform for beginners?

67% of retail investor accounts lose money when trading CFDs with this provider. You should ask yourself if you can afford to take the high risk of losing your money.

CFDs are complex instruments that come with a high risk of losing your funds quickly due to leverage. 75.3% of retail investor accounts lose money when trading CFDs with this provider.

A Forex trading platform will allow you to trade currency pairs against each other. Pairs are classified into three categories: major, minor, and exotic. Major pairs are the most liquid, like EUR / USD, while exotic pairs are the ones that are less liquid, like TRY / USD.

A Forex trading platform will allow you to access the market with different characteristics. Some offer maximum leverage that can range from 10: 1 to 500: 1 depending on the type of account, the regulations and the risk you want to take.

If you are looking for a beginner’s Forex trading platform, you should consider the same details that expert traders are looking for. It will depend on your goals, the strategies you use to achieve your goals, and your account balance.

How Does a Beginner’s Forex Trading Platform Work?

A beginner’s Forex platform works by giving you access to the market. It is available through brokers who act as intermediaries between you and the markets. For their services, they charge you fees and commissions.

One of the most important trading costs is the spread. This is the difference between the ask price and the ask price. If a currency pair is more liquid, the spread will be lower. Depending on the frequency of your trades, you can look for a broker with a 0 pip spread but with a higher commission. It could be beneficial to you if you open and close a lot of trades during the day.

It is essential that your Forex broker is regulated. This will protect you and your funds from harm, extreme risk, and bankruptcy, among others. You should also check if the broker’s regulator accepts clients from your country.

Once your account is credited and you want to execute trades, log into your trading platform. You can analyze graphs and add technical tools if necessary. You can open or close a trade with or without leverage. You can also do social trading if the broker offers this option.

Key Features To Look For In A Beginner’s Forex Trading Platform

Each trading platform has its characteristics and is evaluated based on them. Some of the features to look at include spreads, regulations, payment methods, chart types, markets, customer service, and the education section.

Trading platforms will give you access to Forex, but what about other markets? It will depend on the broker. But if Forex brokers are well regulated, they can offer trading in other assets like stocks, bonds, cryptocurrencies like Bitcoin, Ethereum, Litecoin, Binance Coin, and more. You may also be able to opt for CFDs on commodities like gold, silver, soybeans, pork, coffee and many more.

Pros and Cons of Using a Beginner’s Forex Trading Platform

Disadvantages

Customer service is fundamental to a good overall experience as this is where you will seek advice in an emergency or in doubt. View live chat, phone numbers, emails and hours of operation.

Pros and Cons of Using a Beginner’s Forex Trading Platform

How do I choose the best beginner’s Forex trading platform for me?

You may be required to pay a minimum deposit.

Not all brokers offer free withdrawals.

Whether you are a newbie or an experienced trader, it is important to consider your needs when looking for a platform. It’s always a good idea to put together a checklist so you can consider what they have and what they don’t offer.

It is important to compare trading platforms with each other before deciding on which to invest your funds. Platforms like ours will help you make a decision. Our team of experts research and compare trading platforms to find the best one for beginners.

How To Safely Use A Broker To Make Money Trading Online?

Some of the features to include in your checklist are the customizable interfaces, chart types, trading techniques, and tools available.

Conclusion

How To Safely Use A Broker To Make Money Trading Online?

Faq

What is the best Forex trading platform?

First of all, your broker must be subject to regulation. It is important to protect your capital. This is the first step to be successful in the Forex market. Once you’ve done that, it’s time to do your research. Do not lose sight of your trading goals, as they will help you make your final choice.

What is a Trading Platform?

Is eToro a serious site?

It is good to review these kinds of articles before making a decision, as the investigative process is usually carried out by a strong team. Analyzes compare trading platforms or broker characteristics like spreads, payment methods, customer service, etc.

What are the trading sites?

  • Choosing the best Forex trading platform for beginners is essential when starting your career as a trader in the most popular and liquid market on the planet. Our list is complete and unbiased in order to give you, the reader, a little help before making your informed choice.
  • Increasing your funds is a good idea as long as your knowledge allows you to make your trading decisions with confidence, based on facts and using the skills you have acquired.
  • MetaTrader 4: the best forex trading platform Among online trading platforms, MetaTrader 4 is a benchmark. With more than a hundred thousand user traders, MT4 is the most widespread stock exchange platform in the world and climbs to the top of the top 10 trading platform.
  • In finance, an electronic trading platform is a computer system for placing orders for financial products via a network and through a financial intermediary.
  • eToro is a reliable, well-regulated broker that has made a name for itself providing a trading solution for all investors – whether newbies or more experienced traders.
  • Top 10 best trading platforms
  • 1- eToro. www.etoro.com.

What is the best trading site?

  • 2- Libertex. www.libertex.com.
  • 3- AvaTrade. www.avatrade.com.
  • 4- BDSwiss. www.bdswiss.com.
  • 5- NSBroker. www.nsbroker.com.
  • 6- Plus500. www.plus500.fr.
  • 7- ETX Capital. www.etxcapital.com.

What is the salary of a trader?

8- Trade.com. www.trade.com.

How to get started in trading?

eToro: world leading social trading site. …

How to choose your trading platform?

Capital.com: Ideal trading site for beginners. …

How to get free ProRealTime?

Bitcoin Trader: Automatic crypto-currency trading site. …

Which platform for swing trading?

Libertex: trading site with over 20 years of experience. …

Which trading software?

AvaTrade: trading site with advanced tools. …

What is the best beginner’s trading platform?

FXCM: Forex specialist trading site.

What is the best platform to buy Cryptocurrencies?

In terms of salaries, the range chosen for a beginner is between 4,000 and 6,000 € per month. In France, a trader earns an average of € 70,000 excluding bonuses.

Which platform for crypto currency?

You can start by researching how to start Online Trading on your broker’s trading site. This should give you a head start. You don’t have to jump in without experience, but you also can’t learn without being in it.

Best Forex Brokers in 2021 | Forex Professor

If you are a trader in the Forex market and struggling to find the best brokers in 2021, this article might be the best solution for you. The following topics will help you learn about the different aspects of the best Forex brokers. We will also briefly discuss which Forex brokers are best for you, based on your trading expectations.

The Forex market is a global financial market. It is also the most liquid market in the world, as billions of dollars of currency are traded every day. To actively participate in the market, you need a Forex broker.

Our list of the best Forex brokers

Our list of the best Forex brokers

The first rule of trading is to choose a suitable broker for your trading. Before making a deposit, it is up to you to choose a trustworthy and sufficiently credible Forex broker in the market. Forex brokers play a crucial role in the currency market and facilitate liquidity.

Below is the list of major Forex brokers, based on regulation, service, credibility, etc. The trading conditions of brokers are the source of this article. Discover the best Forex brokers in 2021.

eToro is a multi-asset platform that offers CFD and non-CFD products.

67% of retail investor accounts lose money when trading CFDs with this provider. You should ask yourself if you can afford to take the high risk of losing your money.

What is a Forex broker?

CFDs are complex instruments that come with a high risk of losing your funds quickly due to leverage. 75.3% of retail investor accounts lose money when trading CFDs with this provider.

CFDs are derivatives and can be risky; losses can exceed your upfront payment and you should be able to meet all margin calls as soon as they are made. When you trade CFDs, you do not own or have any rights in the underlying CFDs assets.

A Forex broker is responsible for playing the role of intermediary between a trader and the market. Forex trading companies offer Forex services and access to platforms for buying and selling currencies. Forex trading takes place through a brokerage platform and it is managed by a broker.

How Does a Forex Broker Work?

Forex brokers are therefore very important players in the market to regulate the entire trading process. Besides facilitating the trades of the trader, Forex brokers can offer various other services to investors.

Forex brokers usually offer market analysis and research, and some even offer webinar courses for those who are passionate about trading or have a large trading account. Nonetheless, if you follow a profitable trading strategy and good money management techniques, you can get a decent result by trading the Forex market.

As you already know, Forex transactions are usually done between two currency pairs. Forex brokers make these transactions easy for traders. However, the services they offer are not free! Before explaining what these services are and how they charge traders, let’s take a look at how trades are executed in the market.

For example, traders who want to trade euros for US dollars buy the EUR / USD pair. Basically, you buy euros in dollars. At the close of the trade, if the exchange rate is favorable to the trader, there is a profit. Otherwise, the trader will suffer a loss.

The difference between the ask price and the bid price is called the “spread”. These are the fees the broker charges. However, some brokers offer commission-free trades and instead charge a higher fixed amount in the spread to make up the difference. The spread is variable or fixed.

Key Features To Look For In A Forex Broker

When you execute a trade, Forex brokers transfer it to the most suitable liquidity provider and the profit or loss you make comes from the liquidity provider. The broker acts as an intermediary between a particular trader and a liquidity provider.

Some brokers work as liquidity makers – they are called market makers. However, the best solution is to choose an ECN broker that transfers the trade to world-renowned liquidity providers automatically through an electronic network.

Forex brokers are mainly regulated by local or international authority. Therefore, when choosing the best Forex broker, take into account the authority that regulates it. Only a regulated broker can provide excellent service.

The best Forex brokers are always transparent about their spreads. When pricing a trade, there is always a difference between the bid price and the ask price that must be paid to the broker. Traders should look to Forex brokers with lower spreads and tighter regulation to get the most out of their trading strategies.

Pros and Cons of Using Forex Brokers

Disadvantages

The best Forex brokers offer various types of additional services in addition to trading opportunities. Some offer free market analysis or educational resources. In addition, some even offer copy trading, social trading, free trading tools, expert advisors (EAs), market information, free trading lessons, and more.

Pros and Cons of Using Forex Brokers

Some brokers charge higher fees and additional charges

How do I choose the best Forex broker for me?

There is a risk of getting scammed by unregulated brokers.

Market maker brokers often manipulate the price.

The first step is to choose a broker who offers their services in your country. Brokers must be licensed and regulated by local authorities and government to avoid any risk of scams. Brokers who are not regulated will be reluctant to return your money when you want to make a withdrawal.

How To Use A Forex Broker Safely To Make Money Trading Online?

Duly regulated brokers will not charge you any hidden or additional fees outside of the stated terms and conditions. Good Forex brokers will always do their best to resolve your issues within a short period of time. Their customer service is almost always available. In addition, they offer free resources for those who want to train. The most important factor, however, is that they will always remain transparent. Therefore, you will limit the risks.

Conclusion

How To Use A Forex Broker Safely To Make Money Trading Online?

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