Forex Trading Platforms

Any success you have with Forex trading will not just be down to your analytical skills, money management and good timing. While those traits are undoubtedly vital, there’s one factor you must consider before anything else – and that’s which platform you’ll use to trade on. There are hundreds of Forex brokers to choose from. Some excellent, some average at best. So, it’s important to compare trading platforms before signing up with a broker, making sure you select one that meets your particular needs . Why is it important to look at a choice of Forex platforms? Variety is good, but you must ensure you’re getting what you need from your chosen trading platform. Speed . Trading in Forex is often about split-second timing. As soon as a price hits your entry point, you want to execute your trade (either manually or as part of a programmed trade). Make sure your platform pricing is instant, not lagging and is as crystal clear as it can be. When you execute, you want that trade to be co...

Over the last few years, cryptocurrency trading has become one of the most attractive niches in forex trading. Other than it being extremely profitable, the lack of regulation is its biggest appeal. Still, cryptocurrencies like bitcoin, Ethereum ripple, dash, and Litecoin are dynamic, unstable instruments that need to be handled cautiously and in the most optimal way. To achieve this, you need to choose a trustworthy, well-established broker to carry out your cryptocurrency trading. This is crucial to getting on the right track from the beginning when trading cryptocurrencies. When choosing a broker, it is important to note that not all are the same. A broker that meets the needs of another trader may not meet yours. Here are a few tips to help you choose the best forex broker for cryptocurrency trading: Regulation and Reputation To avoid dealing with an unprofessional broker and being scammed, you need to make sure all your crypto trades are made solely with a regulated broker...

January 30, 2019 • Sponsored Using MT4 on a Mobile Device The rise of mobile has created even more opportunities for online traders. Thanks to the power of online trading platforms such as MT4 and MT5, you can now download a mobile version and make trades from your handset. With 63% of people in the US using at least one financial app on their smartphone, it’s not surprising that trading apps are becoming more popular. In this post, we are going to look at using MT4 on a mobile device. What is MT4? MT4 , or MetaTrader 4, is the most popular online trading platform for forex traders. It provides a conduit between currency trading systems and your mobile device. It has lots of useful features for forex traders, including charts and graphs to help you analyze historical and current prices, tools such as stop losses, and expert robo-advisors so you can automate trades. You can download MT4 on to a desktop PC, use a browser version, or install an app. The app version of MT4 is easy...

Yesterday, the British pound fell sharply, given that neither party was able to successfully approve its amendments. Labor Party’s amendments to expand Article 50 and attempts to stop the Brexit scenario without a deal failed, while the Prime Minister’s proposal for Plan B is likely to be approved only if it manages to agree with the EU and replace the Irish border offer agreement with another. Meanwhile, the EU has clearly stated that they are not ready for further negotiations on the Irish agreement, which put the Prime Minister in a difficult position. However, the downward movement was limited, as investors are now waiting for the next parliamentary meeting on February 13, 2019, when PM May promised to conclude a revised deal if she can get it from the EU. Trade with No Fees & Free VPS! Get started with XM and enjoy the pro trading conditions. Stop settling for an average. Choose the best. Sign up with XM now GBP/USD Technical Analysis The British Pound gained tract...

January 30, 2019 • Sponsored Using MT4 on a Mobile Device The rise of mobile has created even more opportunities for online traders. Thanks to the power of online trading platforms such as MT4 and MT5, you can now download a mobile version and make trades from your handset. With 63% of people in the US using at least one financial app on their smartphone, it’s not surprising that trading apps are becoming more popular. In this post, we are going to look at using MT4 on a mobile device. What is MT4? MT4 , or MetaTrader 4, is the most popular online trading platform for forex traders. It provides a conduit between currency trading systems and your mobile device. It has lots of useful features for forex traders, including charts and graphs to help you analyze historical and current prices, tools such as stop losses, and expert robo-advisors so you can automate trades. You can download MT4 on to a desktop PC, use a browser version, or install an app. The app version of MT4 is easy...

Forex options hedging strategy A currency option gives the holder the right, but not the obligation, to exchange a currency pair at a given price before a set time of expiry. Options are extremely popular hedging tools, as they give you the chance to reduce your exposure while only paying for the cost of the option. Let’s say you’re long on AUD/USD , having opened your position at $0.76. However, you are expecting a sharp decline and decide to hedge your risk with a put option at $0.75 with a one-month expiry. If - at the time of expiry - the price has fallen below $0.75, you would have made a loss on your long position but your option would be in the money and balance your exposure. If AUD/USD had risen instead, you could let your option expire and would only pay the premium. How to hedge forex Hedging strategies are often used by the more advanced trader, as they require fairly in-depth knowledge of financial markets. That is not to say that you cannot hedge if you are new to...

© Reuters. Investing.com - The safe haven yen was higher against the U.S. dollar on Tuesday after U.S. authorities hit Chinese technology firm Huawei with criminal charges, ratcheting up trade tensions between the world’s two largest economies. The U.S. Department of Justice charged Huawei, its chief financial officer and two affiliates with bank and wire fraud to violate sanctions against Iran. Investors fear the charges could complicate high-level trade talks set to begin on Wednesday when China's Vice Premier Liu He will meet with U.S. Trade Representative Robert Lighthizer and others. Unless an agreement is reached by March 1, U.S. President Donald Trump has said he will raise tariffs on Chinese imports from 10% to 25%, a move which investors fear will exacerbate the global economic slowdown. "There is a much lesser chance now that we get anything positive out of these trade negotiations," said Nick Twidale, chief operating officer at Rakuten Securities. "...

© Reuters. Investing.com - The greenback inched up on Tuesday, despite confidence among U.S. consumers falling to a one-and-a-half-year low in January. The Conference Board’s fell to its lowest level since July 2017, as the government shutdown decreased optimism. The , which measures the greenback’s strength against a basket of six major currencies, rose 0.09% to 95.507 as of 11:07 AM ET (16:07 GMT). “Shock events such as government shutdowns (i.e. 2013) tend to have sharp, but temporary, impacts on consumer confidence. Thus, it appears that this month’s decline is more the result of a temporary shock than a precursor to a significant slowdown in the coming months,” Lynn Franco, director of economic indicators at The Conference Board, said. Investors are looking ahead to the upcoming Federal Reserve on Wednesday, where the central bank is expected to adopt a more cautious stance on monetary policy amid fears of economic slowdown at home and abroad. Meanwhile, the pound slipped a...

[unable to retrieve full-text content] Liquidity Tops FX Market Concerns in 2019: Survey | Investing News | US News    U.S. News & World Report LONDON (Reuters) - Liquidity, or the ability to buy and sell currencies whenever needed with minimal market impact, is seen by currency traders as the biggest ...

* Dollar marginally higher with Fed in view * Euro scales 10-day high * Investors prepare for U.S-China talks, Brexit vote * Graphic: World FX rates in 2019 tmsnrt.rs/2egbfVh (Updates prices) LONDON, Jan 28 (Reuters) - The euro climbed to a 10-day high on Monday as investors sold the dollar and prepared for volatile markets before U.S.-China trade talks and a Federal Reserve policy decision. Investors are focused on Wednesday’s Fed meeting when policymakers are expected to signal a pause in their tightening cycle and to acknowledge growing risks to the U.S. economy. That could weigh on the dollar, which has fallen 1 percent since late December, after enjoying a boost from the Fed’s four rate increases in 2018. On Monday, the dollar edged down against most major currencies. Traders are awaiting news from U.S.-China talks on Tuesday and Wednesday to see if the world’s largest economies can reach a compromise on trade. “Unless there is a breakdown in negotiations, we suspect the ...

By Darcy Reddan Law360 (January 29, 2019, 1:47 PM EST) -- Investors told a New York federal court on Monday that foreign banks including BNP Paribas and HSBC Bank PLC must face their litigation accusing them of manipulating the foreign exchange market,...

(Adds strategist quotes and details on activity; updates prices) * Canadian dollar weakens 0.1 percent against the greenback * Price of U.S. oil rises 2.5 percent * Canadian bond prices rise across the yield curve By Fergal Smith TORONTO, Jan 29 (Reuters) - The Canadian dollar edged lower against its U.S. counterpart on Tuesday despite higher oil prices, as investors kept their powder dry ahead of a Federal Reserve U.S. rate decision and Canada's monthly gross domestic product data this week. At 3:53 p.m. (2053 GMT), the Canadian dollar was trading 0.1 percent lower at 1.3281 to the greenback, or 75.30 U.S. cents. The currency, which on Monday touched its strongest intraday in more than two weeks at 1.3204, traded in a range of 1.3242 to 1.3285. "It's a lot noise and moves today are not really indicative of anything else," said Mazen Issa, senior FX strategist at TD Securities. "It's been a bit of a chop-fest, it'...

Copy trading , also known as auto trading or mirror trading has been on the rise over the last decade. It simply allows traders to participate in the financial market by copying trades from seasoned and experienced traders. This form of trading offers a suitable trade option to the inexperienced traders or those that lack the time to trade. Here are a few ways you could choose a profitable trader for copy trading. Check out if the trader has been making profits consistently Since you are interested in making profits, the first step is checking the trader’s profit margins. Has the trader been making profits consistently over a period of time? The best period to look out for is one year. There are a few who have made huge profits over a short period of time but unfortunately, this doesn’t mean that they will continue to make profits in the long run. The sum might but to be in the safe side, always check profits in the long run, probably a year. Also, a trader might just be convi...

* Traders await for clues on Fed on possible rate-hike pause * Euro scales near two-week high before Brexit vote * Sterling fades after best week in over 15 months * Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh (Updates market action, adds quote) NEW YORK, Jan 28 (Reuters) - The dollar was little changed against a basket of currencies on Monday as traders were cautious about staking new positions ahead of the Federal Reserve's two-day policy meeting and trade talks between China and the United States. Safe-haven demand for the dollar dried up as the U.S. government started to reopen after a record-long shutdown, and investors were bracing for a slew of economic figures that had been postponed. "This could be the calm before the storm," said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York. "It feels like a consolidation day with a risk-off bias." The euro reached a 10-day high against the greenback as investors cons...

It’s expected that the Fed will signal a pause in their tightening cycle. It pushed the AUD/USD pair higher early Monday. With Australia Day celebration, most of the heavy lifting is being provided by a weaker U.S. Dollar. RBA rate might be cut following National Australia Bank’s out-of-cycle mortgage rate hike announcement. As of now, however, dovish Fed expectations are the main focus of the markets. Trade with No Fees & Free VPS! Get started with XM and enjoy the pro trading conditions. Stop settling for an average. Choose the best. Sign up with XM now Hence, the pair could go up further if the equity markets, gold, and iron ore futures remain well bid. AUD/USD Technical Analysis The Aussie dollar started a decent upward move from the 0.7076 swing low against the US Dollar. The AUD/USD pair broke the 0.7100 resistance zone to move into a positive zone. The pair even broke the 0.7140 resistance and settled above the 50 hourly simple moving average. Moreover, there...

Japanese Yen Talking Points USD/JPY attempts to recoup the losses from earlier this week as U.S. Treasury Secretary Steven Mnuchin emphasizes that there are ‘no indications whatsoever of a recession on the horizon,’ but the recent series of lower highs & lows raises the risk for a further depreciation in the exchange rate especially as the Relative Strength Index (RSI) clings to the downward trend from late-2018. USD/JPY Outlook Mired by Lower Highs & Lows, Bearish RSI Formation It seems as though USD/JPY will hold a narrow range ahead of the Federal Reserve’s first meeting for 2019 as the central bank is widely expected to retain the current policy, but fresh comments from Chairman Jerome Powell may shake up the dollar as the central bank plans to hold a new series of press conferences after delivering its interest rate decision. The push for greater transparency may spur increased volatility across foreign exchange (FX) markets as the Federal Open Market Committee (...

The Ghana Stock Exchange (GSE) has called for a formalised forex trading platform that will see the local currency bought and sold in a much more transparent manner. “Ghana should have a formal and centralised reporting framework for forex trading for better price discovery in foreign exchange market space,” Kofi Yamoah, Managing Director of the exchange, said at its 2018 stock market review in Accra. He explained that before establishment of the Ghana Fixed Income Market (GFIM), which is a trading platform for bills and bonds (government and corporate), banks used to trade among themselves and there was not much transparency. “Before GFIM the banks were trading fixed income securities, but they were trading bilaterally or one-on-one. With GFIM, all those deals being struck among banks are now known by all other market players, including the general public. “This means that at any point in time, between bank A and bank B, there has been this transaction at this price and volum...

The Euro (EUR) inched higher against the US Dollar (USD) on Monday, this caused an increase in the price of EURUSD, bringing it to a total of more than 1.1400. The price of the pair increased after major economic news released. Considering the price movement of the pair over the last few days, it is anticipated that the technical bias may turn bearish because the pair’s price marked a lower low in the recent downside move. EUR/USD Technical Analysis Currently, the pair is being traded around 1.1434, since the price is increasing it is likely to observe a resistance around 1.1513, the immediate horizontal resistance is the point of reference. Another resistance may come around 1.1585, the 38.2% Fib level ahead of 1.1815, the high of October 24, 2019 as demonstrated in the given below chart. Related Articles: Talking about the downside, the price of the pair is likely to support the EURUSD around 1.1356, the 23.6% Fib level support and then 1.1289, the trendline support and th...

The Australian Dollar (AUD) inched lower against the New Zealand Dollar (NZD) on Monday, decreasing the price of AUDNZD to less than 1.0500 following some key economic releases. The technical bias may turn bullish because of the higher high in the recent upside move. AUD/NZD Technical Analysis As of January 28, 2019, the pair is being traded around 1.0542.  Since the price slid down, therefore, a support may be seen around 1.0422, the major horizontal support ahead of 1.0348, the 38.2% Fib level support and then 1.0107, the low of January 03, 2019 as demonstrated in the given below chart. Related Articles: On the upside, the 61.8% Fib level resistance can be noted around 1.0670 ahead of 1.0910 the trendline resistance and then 1.1019, the key horizontal resistance area as demonstrated in the given above chart. The technical bias shall remain bullish as long as the 1.0454, the major horizontal support level remains intact. Australian Trade Balance News In Aust...