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YouTradeFX
Posted by: | CommentsYouTradeFX Short Review
YouTradeFX is one of the fastest growing Forex companies as of this year. They are constantly optimizing and updating its trading platforms and inventing ways to make the trading world a more user-friendly one. Additionally, YouTradeFX has extended its website and trading platform so traders today can more easily invest in CFD’s on stock, commodities, indices and the foreign exchange market.
YouTradeFX History and Background
YouTradeFX got its start in 2009 and has already achieved initial revenues over $ 1.5 million from over 2000 global customers. YouTradeFX addresses a growing client base of private and professional traders, 24 hours a day, six days a week, providing specialized trading services in over ten languages.
With optimal trading conditions, updated offerings, innovative technology and high quality support, YouTradeFX addresses the introducing brokers’ business needs while allowing for considerable extra income with their flexible revenue plan and withdrawal policy.
Advantages of Trading with YouTradeFX
YouTradeFX has developed automated trading tools (expert advisors, custom indicators and scripts) that require minimal intervention and allow traders to automate their trading strategy, improve discipline, remove emotions, and capture opportunities. Traders can choose from over 20 predefined trading strategies to create custom portfolios and automatically execute trades according to their specifications.
Their website features premium video tutorials to help traders get started or optimize their trading strategies. The tutorials range from basic techniques, technical analysis, fundamental analysis, to the types of risk and money management needed to become a successful trader. Traders account and apply the lessons they chose to the real-time market.
Trading Platform
YouTradeFX uses Meta Trader 4 and now, Meta Trader 5
Deposits and Withdrawals
Deposits are made with major credit cards, debit cards, paper checks, money bookers and wire transfers. All requested withdrawals are processed the same working day and transferred to the trader’s account within three business days.
Customer Care
YouTradeFX values their customer service. 24/6 support in ten languages is available at your request via email, phone, and live chat.
Security
YouTradeFX is regulated by the Federal Security Commission.
Conclusion
YouTradeFX provides all levels of traders with the best tools to invest in a controlled and measured manner. “Your gain. Our goal” reflects their commitment to offer both customers and business partners a wide array of trading instruments and one on one support for their traders to make sound decisions and lead them to a real profit.
Open a Live Account Instantly at YouTradeFX
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Forex Analysis
Posted by: | CommentsEconomic Analysis
Wall Street trading locked at slight rises last Friday, though the week’s summary recorded a light retreat on the leading indexes, with the Dow Jones Industrial Average dropping 0.3%, the NASDAQ index plummeting 0.4%, and the S&P 500 index descending 0.2%.
In the American macroeconomic sphere, today we expect the publishing of order data from US factories for the month of August. According to analysts’ predictions, this index is expected to descend 0.4%. Thursday will open the season of quarterly reports in the US with the publishing of quarterly reports for the American aluminum giant Alcoa. As the previous report season has been successful, so is this one expected to be. On Friday, investor attention will be focused on the monthly employment report reflecting the state of the labor market in the world’s largest economy.
Asia’s stock markets have recorded rises this morning based on the rise of commodity prices and the weakening of the Yen, adding support to the Japanese export industry. As such, the Tokyo stock exchange climbs 0.5%, Hong Kong climbs 1.4%, Seoul strengthens by 0.4%, Taiwan rises by 0.1%, whereas the Shanghai exchange has been closed today due to holidays.
In the global currency sphere, the United States dollar has strengthened slightly against the leading currencies since the opening of trade during the night, strengthening by 0.1% against the Yen to a level of 83.30. The greenback strengthens 0.2% against the Euro to a level of 1.376. America’s currency weakens by 0.1% against the British pound, reaching a level of 1.5810 United States dollars per British pound.
Technical Analysis
NZD/USD
After rising to an impressive ten-month high around the 0.7460 mark, the New Zealand dollar – United States dollar pair is expected to experience a slight correction today before continuing its positive trend. Throughout the last three weeks, the pair has created a downwards-tilted trench pattern. After braking its ascent at the upper border of the pattern that serves as a resistance level, the pair will inevitably descend to its lower level marked at 0.7380.
At that point the pair is likely to find sufficient support to restart its upwards trend, moving towards the 0.7500 level, carrying on towards the 0.7650 resistance level. That said, a daily close below the lower border of the pattern and trigger level marked off at 0.73500 will signal of a potentially stronger correction that may retreat down to the strong support level and 200-day moving average at 0.7100.
EUR/USD
The Euro – United States dollar pair has completed the fifth wave in the Elliot wave sequence, rising from the 1.2600 low to the high mark of around 1.3800 at the close of Friday’s trading. Having reached its goal, the pair is definitely expected to begin a downwards correction, creating a sell opportunity.
Our trigger for a sell deal is the trend line accompanying the last wave of upwards movements (the 5th wave) passing through the 1.3680 trend line. Only a decisive breach of that level (by a daily close under it) will confirm the beginning of downwards movements. In such a case, the pair is expected to continue moving south, towards the first support level at 1.3510, and later on, to the further support level around 1.3150 United States dollars for one Euro.
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Oct. 5, 2010 | Written by Jeffrey Winograd
Upward movement of euro helped by optimistic PMI; U.S. and euro zone nations piling on China over renminbi exchange rate
Some uncertainty over reasons for euro’s continued strengthening – The euro received a boost in Oct. 5 morning trading in the aftermath of a report showing a rise in the purchasing managers’ index (PMI). The PMI is seen as a valuable economic indicator and the upward movement could be a sign that economic recovery in the euro zone is not illusory. However, some analysts are suggesting the strengthening euro may primarily be the result of a perception the currency is one of the few hard currencies available. On the other side of the globe, the Bank of Japan, by changing its overnight target rate to a range of 0.0% – 0.1%, eased its monetary policy. The last time the BOJ had a zero-interest rate was in mid-2006. The BOJ action resulted in a slight rise in the USD/JPY pair that lasted for the blink-of-an-eye. And there is still no sure sign that the Japanese central bank will again intervene to devalue the yen.
Euro zone joins U.S. as another paper tiger – The real effective exchange rate of the Chinese renminbi “remains undervalued,” according to Jean-Claude Juncker, chairman of the grouping of euro-zone finance ministers. Euro-zone nations are calling for a broad-based appreciation of the renminbi that is handled in an orderly and significant manner, Juncker said at a press conference after meeting with Chinese Premier Wen Jiabao. Translating Juncker’s diplomatic mumbo-jumbo into plain English, he admitted that he effectively received the cold shoulder from Wen on this issue. Both the United States and the European Union have ramped-up their criticism of China’s determination to keep its currency artificially low. Last week, in response to the Chinese currency policy, the House of Representatives passed a resolution that could be a stepping stone to sanctions against China. The response by most observers to these latest developments was more yawning and acknowledgement that the U.S. trade deficit with China will see no improvement.
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Oct. 11, 2010 | Written by Jeffrey Winograd
FY 2010 federal deficit “slightly lower” than expected – The federal budget deficit for fiscal year 2010 was a tad under $ 1.3 trillion, down $ 125 billion from the figure for FY 2009, according to the Congressional Budget Office’s Monthly Budget Review that was published on Oct. 7. Of particular interest, however, was the increase in federal receipts in September – $ 26 billion entered the Treasury Department’s coffer during the month, an increase of 12% when compared to September 2009. Corporate income tax receipts showed a healthy $ 20 billion increase for the month. For the full FY 2010, corporate income tax receipts jumped by $ 53 billion, a 39% increase over 2009. On the downside, total receipts of individual income and payroll taxes sank by $ 43 billion, which was a 2% decline from the previous year. Income and payroll taxes that were withheld took a slight drop of $ 13 billion, or 1%, compared to 2009. Nonwithheld receipts fell by 10% or $ 35 billion. These figures suggest the growth in taxable corporate income is not linked to a corresponding growth in employment. This is an indicator that forex traders should keep on file in their memory banks.
Upcoming G-20 meeting could be explosive – Despite pledges of international cooperation, the long-simmering dispute over currencies and exchange rates was not resolved at the just-concluded annual meeting of the International Monetary Fund. Once again, China was in the cross-hairs of U.S. and European small arms fire. However, Treasury Secretary Timothy Geithner and Jean-Claude Trichet, president of the European Central Bank, were subdued in their criticism of China and steadfastly refused to bring their heavy artillery into play. As countries with undervalued currencies “lean against appreciation,” global economic recovery is placed in jeopardy, Geithner warned. Once again, the Chinese likely view the Western economic powerhouses as “paper tigers.” Jawboning the Chinese over their undervalued renminbi does not seem to work. National leaders are set to convene in Seoul, South Korea next month for the wrap-up of the G-20 confabs which feature preparatory meetings involving finance ministers and others. According to news reports, South Korean President Lee Myung-bak, in reference to the ongoing disagreements over foreign exchange, said on Oct. 11: “If each country insists on its own interest during the recovery phase, it will bring about trade protectionism and will cause the world economy very big problems.”
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Oct. 7, 2010 | Written by Jeffrey Winograd
Geithner says no “near-term quick fixes” to avert possible currency war – Treasury Secretary Timothy Geithner in remarks on Oct. 6 effectively placed Chinese employment on a higher pedestal of priorities than U.S. job retention and creation. This is important for forex traders to keep in mind as they consider possible movements in the greenback. It is also important to note that his remarks came in the wake of a recent pronouncement by the Brazilian finance minister citing the danger of a global “currency war.” In his opening remarks at the Washington-based Brookings Institute, Geithner did not refer to China by name. The clash of exchange rate systems is “unfair to countries that were already running more flexible regimes and let their currencies depreciate,” Geithner said. But he let China off the hook by adding that the problem “requires a cooperative approach to solve because emerging economies individually will be less likely to move – to allow their currencies to move up unless they’re confident other countries will move with them.” It is universally accepted that China, by keeping the exchange rate of the renminbi artificially weak, is able to bolster its export sector and keep its employment rolls at a high level. According to Geithner, the “main problem” is having a set of emerging economies that remain undervalued and are fighting the pressures for appreciation. “This is not a sustainable strategy for them, with their trading partners or with the countries they are competing against,” Geithner said, again without calling out China. Finally, in response to a question about the Asian behemoth, Geithner could not escape mentioning the country by name. “China will be less likely to move, allow its exchange rate to appreciate more rapidly, if it’s not confident other countries will move with it,” he said. The exchange rate imbroglio “is the central existential challenge of cooperation internationally as it has been for a long period of time,” Geithner said, adding that the solution should not rest solely on the shoulders of the U.S. “It’s better for it to come in a multilateral context, not countries using us to help advance this issue because it is a sensitive, complicated thing,” he concluded.
Immediate outlook for greenback remains grim – The Japanese yen and the euro continue to pummel the U.S. dollar and the forex market is uncertain when the tide will significantly turn. At the moment, it seems that the so-called red line for another Bank of Japan intervention is not written in stone. There is widespread belief that a possible intervention is politically unfeasible before the conclusion of the Group of Seven meeting this weekend in Washington. Forex traders should keep a watchful eye on developments in D.C. The USD/JPY pair hit a 15-year low of 82.75 on Oct. 6. Looking to Europe, forex traders are awaiting developments at a 12:30 GMT news conference with Jean-Claude Trichet, president of the European Central Bank. On Oct. 6, the euro came within a whisker of hitting $ 1.40. In 2008, the euro hit its record high of about $ 1.60 while this past June it was at a low of around $ 1.1880. The euro will likely be bolstered by today’s news that German industrial production jumped 1.7% in August when compared to July. The downside to the strengthening euro could be weaker export demand that would be a potential body blow to the German manufacturing sector. On the other hand, disappointing U.S. employment figures from ADP on Oct. 6 and the possibility of a dismal Labor Department employment report on Oct. 8 could further dampen enthusiasm for the USD.
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Etoro USA Review
Posted by: | CommentseToro USA
With eToroUSA, traders get the opportunity to use the revolutionary eToro software to hone their trading skills in demo mode with live market rates. The uniqueness of the eToro platform lies in its visual graphic interfaces which make it easier for novices to grasp all the basic concepts necessary for forex trading. The platform’s visual mode transforms trades into vivid graphic visualizations which demonstrate market movements and trading techniques in clear and enjoyable ways. The platform also comes equipped with an expert mode that trains users to trade in an advanced trading environment, with the use of advanced charts, orders and analysis tools, all through the use of an easy to follow and user friendly interface. Through the eToroUSA demo platform, traders also get access to eToro’s international community via live practice chat and weekly prize bearing trading challenges.
FXSOL
FXSOL is one of the largest and most trusted forex brokers in the U.S. In 2003, the company began research and development on a proprietary “direct link” price feed which would give retail traders their first true equality with the professional world of interbank traders. Since then FXSOL has been able to provide traders with unparalleled speed and accuracy of execution, and has been recognized as one of America’s fastest growing private companies by Inc. magazine for three consecutive years. FXSOL is regulated as a Forex Dealer Member by the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association.
GTS Trading Platforms
FXSOL offers a comprehensive array of four forex trading platforms to suit each individual trader’s wants and needs:
- The GTS Pro – comes equipped with one click trading, customizable layouts, easy to use interface, exportable reporting and institutional forex news feeds
- The GTS Web – enables you to trade from any computer using all the features available in the GTS Pro, is Mac compatible and requires absolutely no download
- The GTS Mobile – the forex trading platform for your mobile phone which enables you to access your account anytime, get real time updates and never miss an opportunity to trade
- FX AccuCharts – the perfect charting software for the professional forex trader. Enables you to trade directly from the charts, visually set email and audible alerts, build your own technical indicators, use powerful drawing tools to identify trends, and much more
Trading Conditions
As one of the fastest growing companies in the U.S., FXSOL is able to provide highly competitive trading conditions for eToroUSA traders. These include:
- Spreads as low as 3 pips
- A wide choice of instruments – 28 currency pairs, plus Gold and Silver
- Accounts as small as $ 250
- EBS direct price feed
- Automated trade execution – no dealing desk
- Wide range of leverages
eToroUSA traders also have access to eToro’s one on one trading sessions with forex experts and eToro’s professional phone support.
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