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Hi traders, today we’re watching the USD as small signs of overextension have just started to emerge. Could today’s US employment data help give the USD a boost after days of beatings or could we see new monthly lows?To get more news about idealing, you can visit wikifx.com official website.
Views are mixed on today’s employment data are mixed with the conscious forecast suggesting 150,00 jobs were added but PNC is expecting Friday’s payrolls to decline by 400,000 and Goldman Sachs is forecasting a drop of 250,000. Opinions from some of Wall Street’s forecasters suggest employment either slowed to a crawl or could have even turned negative in January and ADP reported Wednesday that companies slashed 301,000 jobs in the month.
The Omicron variant is seen as a key reason for the possible decline but views suggest that the job market should bounce back once the current variant runs its course. The economy is still seen as strong and companies are looking to hire. Could today’s data influence a hawkish FED?
It’s been one-way traffic for the USD this week. It wasn’t long ago we saw 97 traded at. This week so far has been hammer time for the USD with over 2% shredded off price. We can see on the 4H chart below that buyers are trying to hold at the support area seen at 95-95.20. A break below this level continues the overall decline but a hold could start to sow seeds of a counter rally. Could the US employment give USD buyers something to cheer about or could it just maintain the overall pain we’ve seen this week?
ooking at the daily chart we can see that 114.08 continues to show signs of support holding firm for buyers since the 13th. Not only does this level sit just above a round number (114.00) it was also a previous resistance level. These are normally viewed with more regard in strong up-trends but with the failed low and double test it gives the level a bit more credibility. Below this level, we can also see a secondary support level at 113.50, which the failed low tested. If this level (114.08) can remain in play we will be looking for buyers to build on the hold and make a move at 114.64 resistance. A break of that resistance could also set up a break of the current downtrend.
If sellers can break below 114.08 support, we will look for the current downtrend to continue pushing price lower. A new LL would continue the pattern of normal trend.
Views are mixed on today’s employment data are mixed with the conscious forecast suggesting 150,00 jobs were added but PNC is expecting Friday’s payrolls to decline by 400,000 and Goldman Sachs is forecasting a drop of 250,000. Opinions from some of Wall Street’s forecasters suggest employment either slowed to a crawl or could have even turned negative in January and ADP reported Wednesday that companies slashed 301,000 jobs in the month.
The Omicron variant is seen as a key reason for the possible decline but views suggest that the job market should bounce back once the current variant runs its course. The economy is still seen as strong and companies are looking to hire. Could today’s data influence a hawkish FED?
It’s been one-way traffic for the USD this week. It wasn’t long ago we saw 97 traded at. This week so far has been hammer time for the USD with over 2% shredded off price. We can see on the 4H chart below that buyers are trying to hold at the support area seen at 95-95.20. A break below this level continues the overall decline but a hold could start to sow seeds of a counter rally. Could the US employment give USD buyers something to cheer about or could it just maintain the overall pain we’ve seen this week?
ooking at the daily chart we can see that 114.08 continues to show signs of support holding firm for buyers since the 13th. Not only does this level sit just above a round number (114.00) it was also a previous resistance level. These are normally viewed with more regard in strong up-trends but with the failed low and double test it gives the level a bit more credibility. Below this level, we can also see a secondary support level at 113.50, which the failed low tested. If this level (114.08) can remain in play we will be looking for buyers to build on the hold and make a move at 114.64 resistance. A break of that resistance could also set up a break of the current downtrend.
If sellers can break below 114.08 support, we will look for the current downtrend to continue pushing price lower. A new LL would continue the pattern of normal trend.
USDCAD setting up a new push higher?
This week so far has definitely been about the USD. Price has seen solid gains so far, with the index adding 0.98% and hitting a new weekly high of 99.65.To get more news about fusion markets, you can visit wikifx.com official website.
Inflation worries in the US, followed by aggressive comments from the Fed regarding rate increases to combat soaring inflation, have been the key driver. US inflation hit40-yearadjustment to try and get it under control. Inflation is now a widespread issue, with Europe, Britain and Australia feeling the pinch.
Today we are focusing on the USDCAD as a higher USD, and weaker oil prices continue to support buying. The price broke out of its mini range yesterday, and buyers have followed up on the break with new weekly highs today. Today's move also confirms the breakout. Price started its move from a solid-looking foundation after forming a range off a well-established support area.
Looking forward, if this is a true move higher, we would like to see if buyers can get the price back up to 1.2626. This area is a previous low and could develop into resistance. What we don't want to see is a new move by sellers pushing price back into the range or back down to support. This could become a failure break and set up new downward pressure.
The information provided here has been prepared by Eightcap's team of analysts. All expressions of opinion are subject to change without notice. Any opinions made may be personal to the author and do not reflect the opinions of Eightcap.
Today we're looking at AUDUSD after the price failed once again to hold above .75 cents. The newest rejection also lines up with key resistance that also continues to hold buyers at bay.
Price failed at 75 cents for a fifth time today, reinforcing the current supply area. Above this area, we also have key resistance at 7540-7540. This level has been in play since July 2021, and for now, it is proving to be a significant sticking point blocking buyer's momentum. Today, sellers so far hold control, and the AUD has led the losses out of the three primary risk majors, dropping 0.50% to today's low.
Price, for now, is setting up a new consolidation pattern with support seen at 7465. This is the area sellers need to break to get a new leg going. A move through this level could set up a new pushback into areas between support and the main trend line retracement point of view, with the idea buyers will look at regaining control. It's the next move that matters as if they can't reach/break supply and resistance. This could be early signs a more significant shift in momentum is developing.
Traders will be watching tomorrow's US employment data as this could impact the USD and, in turn, impact the AUDUSD. The data is due Friday at 11:30 pm AEDT.
FP Markets is pleased to announce that it is expanding its product offering with even more instruments. Recently awarded as the ‘Best Value Global Forex Broker’ for a second consecutive year, the company continues to set the benchmark in CFDs and Forex by adding a number of new and exciting assets for its clients to enjoy:To get more news about samtrade, you can visit wikifx.com official website.
Already offering 60+ Forex currency pairs, the recent decision to add to its CFD offering commodities, metals, and indices shows that the broker is ready to accommodate all kinds of traders looking for opportunities to trade during the upcoming US election and expected volatility.
The Volatility Index (VIX), and USD Index are exciting additions for those looking to trade based on the impact of the election. FP Markets have also created a dedicated US Elections Page which features news updates, webinars, articles, and analysis.
The addition of platinum, palladium, and natural gas provide more options for those who like to deal with metals and commodities during times of political uncertainty.
Established in 2005, FP Markets has consistently provided traders with tighter spreads and faster execution. Through the use of Raw pricing, they can aggregate prices across a range of top-tier liquidity providers. Forex and CFD traders seeking optimal trading conditions should look no further.
The Ukrainian comments that peace talks are looking more realistic has set off risk demand with traders moving out of safe-havens and back into traditional risk assets, including stocks and currencies like AUD, GBP and EUR. Meanwhile, stock indexes in Europe and US futures are seeing firm gains heading towards the US session open.
The Fed is another factor to watch today, because they’ll meet at 2 pm ET. FOMC is expected to raise rates by one-quarter of a percent, which will be its first move higher since 2018.
“My guess is it’s going to sound a little more hawkish than people want it to sound, and that’s going to be a little tough to digest, particularly in the fixed income markets,”, David Zervos, chief market strategist at Jefferies, told CNBC’s “Closing Bell” on Tuesday. “I think the equity market might digest it a little better, but it’s going to be a tough swallow.”
Hawkish is normally seen as a positive for the country’s currency, but we wonder how much could be factored in from the Fed? Could it disappoint an already weak USD? It will be interesting to see if the Fed can overrule factors in Europe that have been supporting higher USD values. Oil continues to sell off from its highs. On other hand, inflation fears on the front might have started to cool off in the short-term.
We can see the lower highs (LH) on the daily US Dollar Index chart. If this point can continue to hold, we will look for a new short-term trend to remain in play—a break and close above the LH at 99.07. We will be looking for bulls to resume their push.
Already offering 60+ Forex currency pairs, the recent decision to add to its CFD offering commodities, metals, and indices shows that the broker is ready to accommodate all kinds of traders looking for opportunities to trade during the upcoming US election and expected volatility.
The Volatility Index (VIX), and USD Index are exciting additions for those looking to trade based on the impact of the election. FP Markets have also created a dedicated US Elections Page which features news updates, webinars, articles, and analysis.
The addition of platinum, palladium, and natural gas provide more options for those who like to deal with metals and commodities during times of political uncertainty.
Established in 2005, FP Markets has consistently provided traders with tighter spreads and faster execution. Through the use of Raw pricing, they can aggregate prices across a range of top-tier liquidity providers. Forex and CFD traders seeking optimal trading conditions should look no further.
The Ukrainian comments that peace talks are looking more realistic has set off risk demand with traders moving out of safe-havens and back into traditional risk assets, including stocks and currencies like AUD, GBP and EUR. Meanwhile, stock indexes in Europe and US futures are seeing firm gains heading towards the US session open.
The Fed is another factor to watch today, because they’ll meet at 2 pm ET. FOMC is expected to raise rates by one-quarter of a percent, which will be its first move higher since 2018.
“My guess is it’s going to sound a little more hawkish than people want it to sound, and that’s going to be a little tough to digest, particularly in the fixed income markets,”, David Zervos, chief market strategist at Jefferies, told CNBC’s “Closing Bell” on Tuesday. “I think the equity market might digest it a little better, but it’s going to be a tough swallow.”
Hawkish is normally seen as a positive for the country’s currency, but we wonder how much could be factored in from the Fed? Could it disappoint an already weak USD? It will be interesting to see if the Fed can overrule factors in Europe that have been supporting higher USD values. Oil continues to sell off from its highs. On other hand, inflation fears on the front might have started to cool off in the short-term.
We can see the lower highs (LH) on the daily US Dollar Index chart. If this point can continue to hold, we will look for a new short-term trend to remain in play—a break and close above the LH at 99.07. We will be looking for bulls to resume their push.
MyForexFunds welcomes MetaTrader 5
At MyForexFunds, we strive on investing in cutting-edge technologies in order to create the best possible trading environment for our traders. Consequently, we are pleased to announce the addition of the MetaTrader 5 platform to our provided programs.To get more news about tiomarkets forex, you can visit wikifx.com official website.
MetaTrader 5 is a multi-asset platform that offers superior tools for comprehensive price analysis, use of algorithmic trading applications (trading robots, Expert Advisor) and copy trading.
MetaTrader 5 delivers a powerful trading system with the Market Depth and a system of separate accounting of orders and trades. It supports both order accounting systems: the traditional netting system and the hedging option system which allows opening multiple positions of the same financial instrument, of opposite or same direction. The platform supports all types of trade orders, including market, pending and stop orders, as well as trailing stop.
With such a diversity of order types and available execution modes, traders can use any trading strategy for successful work in the financial markets.
We now offer Forex Trading on both MetaTrader 4 and MetaTrader 5, two of the industry's leading trading platforms and we are confident that the MT5 will add significant value to our clients' trading experience.
Today we're looking at the GBPUSD as buyers continue to hold firm and now only face one level of resistance both they can get the new uptrend back on track.
We've seen recently that fair ups support the USD, and any new escalations could drive the USD higher, which would hurt the GBPUSD. T-note yields are another constant factor, but yields have settled for now. However, new highs could once again break risk pairs, including the GBPUSD.
US inflation and UK inflation
US inflation and rate rises could be factored in unless we see a new spike. The minutes didn't do much to drive the USD this week, while a recent increase in UK inflation supported the GBP yesterday, giving the GBPUSD a nice boost in Wednesday's session.
Let's look at some of the technicals we're watching on the GBPUSD chart with that in mind. For now, we see the price stuck in consolidation with support and resistance currently holding the price. Overall we can see two new uptrends in play in short and medium times. Price also sits above all three moving averages, and the short term MAs are trading above the 86 MA.
While support remains firm, we will continue to look for buyers to push at a new continuation. The key to this is a break above the two resistance points. This could confirm a new breakout and suggest that the medium-term trend could continue. A break below support and a move back to the new Med-trend would be a small warning sign, and further evidence would be required before thinking that the trend will continue.
We believe that wherever possible, we should remove emotions from our trading psychology and try to act logically and systematically when making trading decisions. That’s because there are facets of our emotional selves that are just no good when it comes to making money. Impulses that encourage us to snatch at profits, make rash trades and run losses can be detrimental to our wealth in the same way that running out into a stream of moving traffic could be very detrimental to our health. We could go so far as to say that there is no room for sentiment at all in trading, but if we said that we wouldn’t be entirely correct. Because while it’s true that we want to remove sentiment and emotion from our own trading, we should be quite happy to take advantage of other people’s sentiments.To get more news about my forex funds, you can visit wikifx.com official website.
Picking the right wave
Trading is effectively a three-way competition. First, you compete with yourself and your psyche, of course, you also compete with the market in the same way that a surfer competes with the ocean. That is reading the changes in the swell and the wind in order to pick to the right waves. However, you are also competing with other traders, because in forex for every winner there is a loser, and to make money, you need to try to ensure that other traders and not you are on the losing side, more often than not. To succeed, we need to follow a rules-based trading strategy that helps us back only the best trading opportunities that the market presents to us. We also need to try and develop an edge over our competition, that is other traders.
Of course, we don’t and can’t know who these other traders are, and even if we did it wouldn’t do us much good, because there are millions of them spread out across the globe trading away at any one time. However, the fact that there are so many competitors out there can work in our favour. Why? Because a crowd that big leaves a trail that we can follow and that can provide us with an edge.
Tracking the markets thinking
One of the methods that we can use to gauge what the rest of the market is thinking and doing is to look at what they are buying, selling and saying. That is measuring the sentiment towards the markets, and doing that in aggregate.
There are several ways in which we can do this. For example, we could study the weekly Commitment of Traders reports that are produced by the US CFTC which track changes in positioning in listed futures contracts (including FX majors) among key investor and trading groups. However, these reports are released three days in arrears, late on Friday afternoon in the USA. What’s more, they are not exactly user friendly in terms of their layout or the way that the data is presented or in the ease of interpretation (the CFTC is not known for its beautiful charts!).
Perhaps a more simplistic way to track trader sentiment is to look at what’s happening to the prices of safe-haven assets such as gold, the Japanese yen and Swiss franc and government bonds. If these instruments are rising in price, then that’s a sign of Risk-Off sentiment among traders.
If those safe-haven assets are strengthening when risk assets such as equities and Emerging Market currencies like the South African rand, Brazilian real and Turkish lira etc. are weakening, then you will know it’s risk-off. Of course, if we see risk assets appreciating while safe-havens are falling in price, that’s an indicator of Risk-On sentiment among market participants.
However, there are quite a few items to monitor the strategy outlined above. Since we are trying to gauge the aggregate sentiment of the crowd, it would be good if we had an indicator to gauge sentiment across a wide range of assets as well.
True we could try to use the VIX and other volatility indices, volatility is a measure of the rate and severity of price changes within an instrument or market. It tends to rise sharply as markets become fearful and trend lower when fear subsides and greed re-asserts itself. But once again, this would mean monitoring multiple items from different sources, to which we may have varying degrees of access.
Picking the right wave
Trading is effectively a three-way competition. First, you compete with yourself and your psyche, of course, you also compete with the market in the same way that a surfer competes with the ocean. That is reading the changes in the swell and the wind in order to pick to the right waves. However, you are also competing with other traders, because in forex for every winner there is a loser, and to make money, you need to try to ensure that other traders and not you are on the losing side, more often than not. To succeed, we need to follow a rules-based trading strategy that helps us back only the best trading opportunities that the market presents to us. We also need to try and develop an edge over our competition, that is other traders.
Of course, we don’t and can’t know who these other traders are, and even if we did it wouldn’t do us much good, because there are millions of them spread out across the globe trading away at any one time. However, the fact that there are so many competitors out there can work in our favour. Why? Because a crowd that big leaves a trail that we can follow and that can provide us with an edge.
Tracking the markets thinking
One of the methods that we can use to gauge what the rest of the market is thinking and doing is to look at what they are buying, selling and saying. That is measuring the sentiment towards the markets, and doing that in aggregate.
There are several ways in which we can do this. For example, we could study the weekly Commitment of Traders reports that are produced by the US CFTC which track changes in positioning in listed futures contracts (including FX majors) among key investor and trading groups. However, these reports are released three days in arrears, late on Friday afternoon in the USA. What’s more, they are not exactly user friendly in terms of their layout or the way that the data is presented or in the ease of interpretation (the CFTC is not known for its beautiful charts!).
Perhaps a more simplistic way to track trader sentiment is to look at what’s happening to the prices of safe-haven assets such as gold, the Japanese yen and Swiss franc and government bonds. If these instruments are rising in price, then that’s a sign of Risk-Off sentiment among traders.
If those safe-haven assets are strengthening when risk assets such as equities and Emerging Market currencies like the South African rand, Brazilian real and Turkish lira etc. are weakening, then you will know it’s risk-off. Of course, if we see risk assets appreciating while safe-havens are falling in price, that’s an indicator of Risk-On sentiment among market participants.
However, there are quite a few items to monitor the strategy outlined above. Since we are trying to gauge the aggregate sentiment of the crowd, it would be good if we had an indicator to gauge sentiment across a wide range of assets as well.
True we could try to use the VIX and other volatility indices, volatility is a measure of the rate and severity of price changes within an instrument or market. It tends to rise sharply as markets become fearful and trend lower when fear subsides and greed re-asserts itself. But once again, this would mean monitoring multiple items from different sources, to which we may have varying degrees of access.
An increasing number of people are asking: is Beurax a scam? Yes, Cybertrace can confirm that Beurax is definitely a fake investment company scamming people out of their hard-earned money. The scammers are using a variety of websites, including beurax.com and beurax.work. Please do not entrust your funds with this fake company promising unrealistic returns! If you think you have already lost money to Beurax, contact Cybertrace’s experienced investigators to discuss how we can help.To get more news about prosperityfx, you can visit wikifx.com official website.
As we have discussed in previous blogs, it can be difficult to tell if a website is real or fake. Scammers put significant effort into making their websites look slick and professional. They also use aggressive and convincing sales tactics over the phone. Finally, by asking for payment in cryptocurrency, they make it harder to trace and recover any lost funds. So, what can you look out for to help you spot, and avoid, a scam like Beurax?
The first hurdle is actually getting onto the Beurax website! The original URL, no longer appears to operate. However, the scammers have set up another URL: beurax.work. This often happens with online fraud: once victims or authorities cotton on, scammers will set up alternative URLs.
So, what about this new URL? If you have installed standard internet security software, it will likely block access to this new Beurax site. It will also explicitly flag the site as a dangerous scam. This is a pretty good indication that the site is not trustworthy!
If you are able to get on to the site, the next thing to note is the use of language. The scammers use a lot of technical jargon to bamboozle victims and make it sound like they are the experts. At the same time, there are basic mistakes regarding grammar and syntax. Sub-headings like “About company” and “How can earn with BEURAX” should arouse suspicion!
Another tell-tale sign of a fake website is a lack of information about the actual company. For one, the website does not state where the company is registered or who regulates it. It provides an Australian address but a US phone number, which looks to be registered in Arizona. A search of ASIC’s (Australian Securities and Investments Commission) companies register shows that Beurax Corporation Pty Ltd was registered in 2020. However, even if a company is registered with ASIC, it can still be a scam! In fact, In it, ASIC details its concerns about unrealistically high and ‘guaranteed’ returns and difficult-to-trace cryptocurrency payments.
Before investing any money with an unknown company, it pays to read independent reviews on sites such as Trustpilot. A quick glance shows many reviewers warn of scams and share stories of being defrauded. Always be alert for fake reviews, though, as scammers will try and up their trustworthiness ratings. One other note of caution: some review posters will actually be secondary scammers. They pretend to be or help victims get their money back only to fleece them a second time!
The final red flag is a lack of information on who owns or works for the company. The Beurax website does not provide any names or contact details of their directors or employees. A search on LinkedIn only reveals a company by the name of Beurax Review with a defunct website – likely another version of this scam.
In conclusion, it is clear to our experienced analysts that Beurax is a scam operating a fake website. If you ask to withdraw your funds, the scammers will likely come up with excuses or be unresponsive. Do not send them any further money! Many scammers will ask you to transfer further funds to “unlock” your investment but that is simply another way of scamming you. Don’t fall for it! Instead, contact Cybertrace’s experienced investigators to see how we can help you.
As we have discussed in previous blogs, it can be difficult to tell if a website is real or fake. Scammers put significant effort into making their websites look slick and professional. They also use aggressive and convincing sales tactics over the phone. Finally, by asking for payment in cryptocurrency, they make it harder to trace and recover any lost funds. So, what can you look out for to help you spot, and avoid, a scam like Beurax?
The first hurdle is actually getting onto the Beurax website! The original URL, no longer appears to operate. However, the scammers have set up another URL: beurax.work. This often happens with online fraud: once victims or authorities cotton on, scammers will set up alternative URLs.
So, what about this new URL? If you have installed standard internet security software, it will likely block access to this new Beurax site. It will also explicitly flag the site as a dangerous scam. This is a pretty good indication that the site is not trustworthy!
If you are able to get on to the site, the next thing to note is the use of language. The scammers use a lot of technical jargon to bamboozle victims and make it sound like they are the experts. At the same time, there are basic mistakes regarding grammar and syntax. Sub-headings like “About company” and “How can earn with BEURAX” should arouse suspicion!
Another tell-tale sign of a fake website is a lack of information about the actual company. For one, the website does not state where the company is registered or who regulates it. It provides an Australian address but a US phone number, which looks to be registered in Arizona. A search of ASIC’s (Australian Securities and Investments Commission) companies register shows that Beurax Corporation Pty Ltd was registered in 2020. However, even if a company is registered with ASIC, it can still be a scam! In fact, In it, ASIC details its concerns about unrealistically high and ‘guaranteed’ returns and difficult-to-trace cryptocurrency payments.
Before investing any money with an unknown company, it pays to read independent reviews on sites such as Trustpilot. A quick glance shows many reviewers warn of scams and share stories of being defrauded. Always be alert for fake reviews, though, as scammers will try and up their trustworthiness ratings. One other note of caution: some review posters will actually be secondary scammers. They pretend to be or help victims get their money back only to fleece them a second time!
The final red flag is a lack of information on who owns or works for the company. The Beurax website does not provide any names or contact details of their directors or employees. A search on LinkedIn only reveals a company by the name of Beurax Review with a defunct website – likely another version of this scam.
In conclusion, it is clear to our experienced analysts that Beurax is a scam operating a fake website. If you ask to withdraw your funds, the scammers will likely come up with excuses or be unresponsive. Do not send them any further money! Many scammers will ask you to transfer further funds to “unlock” your investment but that is simply another way of scamming you. Don’t fall for it! Instead, contact Cybertrace’s experienced investigators to see how we can help you.
This broker was not featured in our 2022 Broker Review Audit. This is because, in the past 12 months, it has failed to pass our initial screening process and is not recommended by our team of experts. As such some of the information found here may be out of date.To get more news about trade 360 mon compte, you can visit wikifx.com official website.
We review all brokers to a strict and unique methodology, to ensure that we only promote high quality brands that you can trust. This methodology considers over 200 criteria points, covering the categories of safety, fees, platforms, products, payments and customer support. All brokers are then given a score out of 100. We update this methodology and our recommended reviews yearly, so that you’re only given up to date information.
If a broker has a score less than 80, like this one, we won’t recommend it to you. So that we don’t waste your time, we don’t update these reviews either. We know you don’t want to read a long review of an untrustworthy broker. Instead, you can use the tool below to find a high-scoring broker that accepts clients from your country.
Abshire-Smith is a Forex broker located in England and Wales that directly targets the ultra-rich millionaires from the Middle East. The company was founded in 2011 by a group of professional market experts who fully understands the requirements of traders who have access to a huge pile of cash. Smaller retail traders may also find several unique features that support low volume trading. There are numerous aspects about the broker that supports Islamic trading, which have some distinctive advantages as well as a few disadvantages that are covered in this Abshire-Smith review
Abshire-Smith has its main office in London and is regulated by the FCA. FCA is one of the select few regulatory organizations in the world that are highly trusted by a majority of FX traders. Since the company is focusing on traders from the Middle East and other parts of EU, Africa, and Asia, the company hasn’t bothered to set up an office in the US, neither has it mentioned any intent on being regulated by the NFA. Therefore, Abshire-Smith makes it clear that they do not accept US traders at any cost. It is also interesting to note that traders from Iran also find it difficult to open an account at Abshire Smite, and residents of countries listed on the UN sanctions list will also find it difficult to open a trading account with the company.
FCA regulation is an essential aspect of Forex trading that helps traders to feel safe and secure against broker frauds or financial malpractices. All client funds are kept in segregated accounts in leading banks of the UK, and every trader is protected by the Financial Services Compensation Scheme that protects a customer against issues such as broker insolvency. FCA regulated companies are audited on a periodic basis, and brokers don’t trade against a trader’s position. Stringent regulatory guidelines offer protection against most conventional broker issues such as price manipulation, incorrect price feeds, and more.
The minimum deposit required to open an account at Abshire-Smith is $500, which is higher than most established Forex brokers. The relatively higher initial deposit is designed to deter small retail traders from opening an account with the company. A $500 initial deposit qualifies for a Mini account, while a $1000 initial deposit can provide access to either the Mini ECN account or the Standard Account. VIP accounts are available for deposits greater than $10,000.
Every account is offered with a maximum Abshire-Smith leverage of 1:200 for Forex and 1:100 for other assets such as commodities and precious metals. Abshire-Smith spreads also start from 0.7 pips for the VIP account to a minimum of 1.8 pips, excluding commission, for the Mini ECN account. The spreads are considered to be highly competitive and are one of the great advantages of trading with Abshire-Smith. The broker connects their traders to a global liquidity pool to offer excellent price feeds and tight spreads to provide a real ECN trading environment.
There are plenty of financial assets to choose from, and traders can invest in FX, commodities, equities, CFDs, or precious metals through a single account. Since the broker offers Sharia compliant trading accounts for all of their investors, there are no SWAPs whatsoever for overnight trades. Lower spreads and a lack of SWAPs combine to provide a highly cost-effective trading account for traders who are concerned about the outflow in Forex trading. The low cost of trading can also result in a high performance, which is tough to replicate using other FX brokers.
One of the primary disadvantages of the company is that they only provide 22 currency pairs. The company believes that expert traders only use the major pairs and a few minor pairs in their trading portfolio, and never actually bothered to include the full list of currency pairs that are available in the market. On the payment front, deposits and withdrawals can be done using bank transfer, online payment processors such as Skrill and CashU, and by using credit cards. Card and online deposits are made instantly, while withdrawals can take up to 24 hours.
The broker has an excellent customer support channel available for traders around the clock; however, the languages are restricted to English and Arabic. This proves the company’s intent on entertaining clients from the Middle East, but the English support channel is also highly responsive and helpful.
We review all brokers to a strict and unique methodology, to ensure that we only promote high quality brands that you can trust. This methodology considers over 200 criteria points, covering the categories of safety, fees, platforms, products, payments and customer support. All brokers are then given a score out of 100. We update this methodology and our recommended reviews yearly, so that you’re only given up to date information.
If a broker has a score less than 80, like this one, we won’t recommend it to you. So that we don’t waste your time, we don’t update these reviews either. We know you don’t want to read a long review of an untrustworthy broker. Instead, you can use the tool below to find a high-scoring broker that accepts clients from your country.
Abshire-Smith is a Forex broker located in England and Wales that directly targets the ultra-rich millionaires from the Middle East. The company was founded in 2011 by a group of professional market experts who fully understands the requirements of traders who have access to a huge pile of cash. Smaller retail traders may also find several unique features that support low volume trading. There are numerous aspects about the broker that supports Islamic trading, which have some distinctive advantages as well as a few disadvantages that are covered in this Abshire-Smith review
Abshire-Smith has its main office in London and is regulated by the FCA. FCA is one of the select few regulatory organizations in the world that are highly trusted by a majority of FX traders. Since the company is focusing on traders from the Middle East and other parts of EU, Africa, and Asia, the company hasn’t bothered to set up an office in the US, neither has it mentioned any intent on being regulated by the NFA. Therefore, Abshire-Smith makes it clear that they do not accept US traders at any cost. It is also interesting to note that traders from Iran also find it difficult to open an account at Abshire Smite, and residents of countries listed on the UN sanctions list will also find it difficult to open a trading account with the company.
FCA regulation is an essential aspect of Forex trading that helps traders to feel safe and secure against broker frauds or financial malpractices. All client funds are kept in segregated accounts in leading banks of the UK, and every trader is protected by the Financial Services Compensation Scheme that protects a customer against issues such as broker insolvency. FCA regulated companies are audited on a periodic basis, and brokers don’t trade against a trader’s position. Stringent regulatory guidelines offer protection against most conventional broker issues such as price manipulation, incorrect price feeds, and more.
The minimum deposit required to open an account at Abshire-Smith is $500, which is higher than most established Forex brokers. The relatively higher initial deposit is designed to deter small retail traders from opening an account with the company. A $500 initial deposit qualifies for a Mini account, while a $1000 initial deposit can provide access to either the Mini ECN account or the Standard Account. VIP accounts are available for deposits greater than $10,000.
Every account is offered with a maximum Abshire-Smith leverage of 1:200 for Forex and 1:100 for other assets such as commodities and precious metals. Abshire-Smith spreads also start from 0.7 pips for the VIP account to a minimum of 1.8 pips, excluding commission, for the Mini ECN account. The spreads are considered to be highly competitive and are one of the great advantages of trading with Abshire-Smith. The broker connects their traders to a global liquidity pool to offer excellent price feeds and tight spreads to provide a real ECN trading environment.
There are plenty of financial assets to choose from, and traders can invest in FX, commodities, equities, CFDs, or precious metals through a single account. Since the broker offers Sharia compliant trading accounts for all of their investors, there are no SWAPs whatsoever for overnight trades. Lower spreads and a lack of SWAPs combine to provide a highly cost-effective trading account for traders who are concerned about the outflow in Forex trading. The low cost of trading can also result in a high performance, which is tough to replicate using other FX brokers.
One of the primary disadvantages of the company is that they only provide 22 currency pairs. The company believes that expert traders only use the major pairs and a few minor pairs in their trading portfolio, and never actually bothered to include the full list of currency pairs that are available in the market. On the payment front, deposits and withdrawals can be done using bank transfer, online payment processors such as Skrill and CashU, and by using credit cards. Card and online deposits are made instantly, while withdrawals can take up to 24 hours.
The broker has an excellent customer support channel available for traders around the clock; however, the languages are restricted to English and Arabic. This proves the company’s intent on entertaining clients from the Middle East, but the English support channel is also highly responsive and helpful.
US equities were stronger Thursday, ignoring all the recessionary and Fed policy mistakes clamouring with the S&P up 1.2%. S10yr yields down 2bps to 2.17%, oil back up 8.8%. To get more news about investous, you can visit wikifx.com official website.
And while stock markets liquidity isn’t getting any better, market internals is showing signs of improvement as shorter duration on kneejerk S&P 500 selling points to a decrease in speculative reactions to news flows. And if investors were indeed turning bearish longer term, they would buy-the-dip less often and start to profit take consistently on rallies.
A dovish hike from BoE hiked 25bps as expected, but no dissenters were looking for 50bps.
Its been a remarkable turn of events in FX land even though a hawkish Fed, which one would have thought would have supported the US dollar. However, the underlying risk tone was improving with the ‘china put’ and Ukraine optimism. Hence, the certainty allows people to re-enter SPX longs, and then FX tends to have that mechanical reaction to chase risk higher. Still, we need to be careful how we position FX as this was not the typical reaction one would have expected, but perhaps pricing in peak Fed hawkishness will allow the currency markets to climb.
While I have some sympathy with the view that we have now reached peak hawkishness, the fact is that this was still an extremely hawkish pivot from the Fed both in substance as well as quantitatively, with Fed Chair Powell making it quite clear during the Q&A that they will become even more aggressive if needed to tame inflation even at the expense of growth.
Still, the Fed thinks it can achieve the impossible trinity of hiking rates, bringing inflation down while unemployment remains below long-run neutral. The bond and currency markets say no! The US curve bull flatted, and the dollar sagged across the board. Even a dovish hike by the BoE still had folks buying GBP straight up vs the dollar.
The US dollar no longer appears to be the cleanest dirty shirt in the laundry this week as the Fed starts to walk the impossible trinity tight rope. But we also have very different reactions at the big three G-10 central banks.
The ECB is focused entirely on pulling inflation down; the Fed is trying cool the economy and bring growth back towards the trend, but also get inflation down; the Bank of England is far more concerned by growth than inflation – easily the least hawkish of the three (though it started the hiking cycle some months ago). The key for the BoE seems to be no more than containing inflation expectations rather than chasing inflation down.
And while stock markets liquidity isn’t getting any better, market internals is showing signs of improvement as shorter duration on kneejerk S&P 500 selling points to a decrease in speculative reactions to news flows. And if investors were indeed turning bearish longer term, they would buy-the-dip less often and start to profit take consistently on rallies.
A dovish hike from BoE hiked 25bps as expected, but no dissenters were looking for 50bps.
Its been a remarkable turn of events in FX land even though a hawkish Fed, which one would have thought would have supported the US dollar. However, the underlying risk tone was improving with the ‘china put’ and Ukraine optimism. Hence, the certainty allows people to re-enter SPX longs, and then FX tends to have that mechanical reaction to chase risk higher. Still, we need to be careful how we position FX as this was not the typical reaction one would have expected, but perhaps pricing in peak Fed hawkishness will allow the currency markets to climb.
While I have some sympathy with the view that we have now reached peak hawkishness, the fact is that this was still an extremely hawkish pivot from the Fed both in substance as well as quantitatively, with Fed Chair Powell making it quite clear during the Q&A that they will become even more aggressive if needed to tame inflation even at the expense of growth.
Still, the Fed thinks it can achieve the impossible trinity of hiking rates, bringing inflation down while unemployment remains below long-run neutral. The bond and currency markets say no! The US curve bull flatted, and the dollar sagged across the board. Even a dovish hike by the BoE still had folks buying GBP straight up vs the dollar.
The US dollar no longer appears to be the cleanest dirty shirt in the laundry this week as the Fed starts to walk the impossible trinity tight rope. But we also have very different reactions at the big three G-10 central banks.
The ECB is focused entirely on pulling inflation down; the Fed is trying cool the economy and bring growth back towards the trend, but also get inflation down; the Bank of England is far more concerned by growth than inflation – easily the least hawkish of the three (though it started the hiking cycle some months ago). The key for the BoE seems to be no more than containing inflation expectations rather than chasing inflation down.
Sequel to a long political and economic decline the Union of Soviet Socialist Republics (USSR) was officially dissolved on the 26th December, 1991. Hungary was never a part of the USSR but was a member of The Council for Mutual Economic Assistance (COMECON), an organisation controlled by the Soviet Union while Poland was a satellite nation of the Soviet Union. To get more news about daxkapital com, you can visit wikifx.com official website.
The current imbroglio between Russia and Ukraine has brought about economic hardship to the region as the sanctions and counter sanctions in addition to the effect of wars has waned on the economy.
The Russian ruble leads the plunge and has robbed off on countries previously associated with the Soviet Union and this is expected to continue until the peace talk between the two countries lead to a ceasefire.
The current situation has made trading decisions easier as those nations currencies continue to spiral downward meaning most currencies outside of the Union will appreciate against them.
I hereby state that I am over 18 years old and I have read, understood, accepted and I agree with Terms and Conditions (T&C) and other applicable documents, which are described below. I agree with the personal data processing by RallyTrade as stated in Privacy Policy.
Rally Trade is an international online broker providing highly competitive brokerage services to emerging financial economies. We infuse cutting edge technology, low transactional fees with an array of financial instruments to give you an unmatched trading experience. We offer trading and other services in Forex, commodities, precious metals, shares, indices and other financial instruments. Our goal is to prioritise a seamless customer service experience to our customers, who are paramount to our business. We are committed to offering our clients a reliable and secure service so as to build a complete financial portfolio that empowers them to achieve Financial Freedom. RallyTrade is a subsidiary of FRNG Limited.
The current imbroglio between Russia and Ukraine has brought about economic hardship to the region as the sanctions and counter sanctions in addition to the effect of wars has waned on the economy.
The Russian ruble leads the plunge and has robbed off on countries previously associated with the Soviet Union and this is expected to continue until the peace talk between the two countries lead to a ceasefire.
The current situation has made trading decisions easier as those nations currencies continue to spiral downward meaning most currencies outside of the Union will appreciate against them.
I hereby state that I am over 18 years old and I have read, understood, accepted and I agree with Terms and Conditions (T&C) and other applicable documents, which are described below. I agree with the personal data processing by RallyTrade as stated in Privacy Policy.
Rally Trade is an international online broker providing highly competitive brokerage services to emerging financial economies. We infuse cutting edge technology, low transactional fees with an array of financial instruments to give you an unmatched trading experience. We offer trading and other services in Forex, commodities, precious metals, shares, indices and other financial instruments. Our goal is to prioritise a seamless customer service experience to our customers, who are paramount to our business. We are committed to offering our clients a reliable and secure service so as to build a complete financial portfolio that empowers them to achieve Financial Freedom. RallyTrade is a subsidiary of FRNG Limited.
At the December Federal Reserve meeting, members finally realised that the inflation in the economy was no longer transitory an acknowledged that prices were increasing rapidly.To get more news about fxpace, you can visit wikifx.com official website.
So, in order to control inflation in the economy, the Fed signalled that it could raise interest rates soon with a possibility of three rate hikes in 2022.
With the market expecting an increase in Fed interest rates soon, US stock markets tumbled in the early days of 2022. The Dow Jones Index, or DJI, fell from 36,799 to 34,079 (as at 18 Feb 2022) and the NASDAQ index fell from 15,832 to 13,548 (as at 18 Feb 2022).
Many US tech stocks also fell from grace with the likes of Nvidia, Microsoft, Tesla and Apple tumbling around 20-30 percent.Generally, there has been an inverse relationship between the Fed funds rate and the performance of the stock market. An increase in the Fed funds rate typically will result in a fall in the stock market.
This interest rate, also known as the federal funds rate, is the interest rate at which financial institutions borrow and lend their excess reserves to each other overnight. As stated by law, US banks must maintain a percentage of their deposits in an account with the Fed which is known as the required reserve ratio. This is to prevent a bank run from happening. A bank run occurs when many clients withdraw their money from the banks simultaneously, and this may affect the liquidity of the banks.
The required reserve ratio is calculated based on the end-of-day balances in the bank’s account averaged over a two-week reserve maintenance period.
So, if one bank finds that it has more than what is required, it can lend the excess to other banks that expect a shortfall in balances and earn interest from it. This interbank lending interest rate is based on the fed funds rate.
How will an increase in the Fed funds rate affect consumers?
When the Fed raises its interest rates, it also influences the prime lending rates that the banks charge their borrowers. Prime rates are the prevailing interest rates that banks charge their customers who have the best creditworthiness. As the fed rates increase, the prime lending rates move in tandem with the increase. This increase also affects consumers’ interest rates for bank loans, credit card loans and adjustable-rate mortgages.
The reason why there is this ripple effect of interest rates increases is because as the borrowing of excess funds increases, banks incur a higher cost to borrow to maintain the required reserve ratio.
The banks then pass on this increase in costs of borrowing to its consumers. Therefore, the prime lending rates increase. And since the prime lending rate sets the benchmark for interest rates of the loans, customers who did not have the best creditworthiness will face a higher interest rate than the prime lending rate as the banks experience more risk as the creditworthiness of customers drops.Inflation is the rate of increase in prices over a given period of time. Therefore, CPI is used as an indicator of inflation in a particular economy.
CPI is a measure that takes the weighted average of prices of a basket of goods and services which consumers require for their day-to-day life.
In January 2022, the US Consumer Price Index, or CPI, rose to 7.5% which was a 40-year high. This means that the US is facing high inflation as the overall cost of living has been increasing drastically.
Inflation is necessary for economic growth as it helps to increase consumption and consumer demand which eventually increases the GDP of an economy.
The estimated benchmark of inflation for a developed nation is around 2% and is meant to stimulate economic growth. However, anything above this could be damaging to the economy as it could affect the livelihoods of its population.
So, in order to control inflation in the economy, the Fed signalled that it could raise interest rates soon with a possibility of three rate hikes in 2022.
With the market expecting an increase in Fed interest rates soon, US stock markets tumbled in the early days of 2022. The Dow Jones Index, or DJI, fell from 36,799 to 34,079 (as at 18 Feb 2022) and the NASDAQ index fell from 15,832 to 13,548 (as at 18 Feb 2022).
Many US tech stocks also fell from grace with the likes of Nvidia, Microsoft, Tesla and Apple tumbling around 20-30 percent.Generally, there has been an inverse relationship between the Fed funds rate and the performance of the stock market. An increase in the Fed funds rate typically will result in a fall in the stock market.
This interest rate, also known as the federal funds rate, is the interest rate at which financial institutions borrow and lend their excess reserves to each other overnight. As stated by law, US banks must maintain a percentage of their deposits in an account with the Fed which is known as the required reserve ratio. This is to prevent a bank run from happening. A bank run occurs when many clients withdraw their money from the banks simultaneously, and this may affect the liquidity of the banks.
The required reserve ratio is calculated based on the end-of-day balances in the bank’s account averaged over a two-week reserve maintenance period.
So, if one bank finds that it has more than what is required, it can lend the excess to other banks that expect a shortfall in balances and earn interest from it. This interbank lending interest rate is based on the fed funds rate.
How will an increase in the Fed funds rate affect consumers?
When the Fed raises its interest rates, it also influences the prime lending rates that the banks charge their borrowers. Prime rates are the prevailing interest rates that banks charge their customers who have the best creditworthiness. As the fed rates increase, the prime lending rates move in tandem with the increase. This increase also affects consumers’ interest rates for bank loans, credit card loans and adjustable-rate mortgages.
The reason why there is this ripple effect of interest rates increases is because as the borrowing of excess funds increases, banks incur a higher cost to borrow to maintain the required reserve ratio.
The banks then pass on this increase in costs of borrowing to its consumers. Therefore, the prime lending rates increase. And since the prime lending rate sets the benchmark for interest rates of the loans, customers who did not have the best creditworthiness will face a higher interest rate than the prime lending rate as the banks experience more risk as the creditworthiness of customers drops.Inflation is the rate of increase in prices over a given period of time. Therefore, CPI is used as an indicator of inflation in a particular economy.
CPI is a measure that takes the weighted average of prices of a basket of goods and services which consumers require for their day-to-day life.
In January 2022, the US Consumer Price Index, or CPI, rose to 7.5% which was a 40-year high. This means that the US is facing high inflation as the overall cost of living has been increasing drastically.
Inflation is necessary for economic growth as it helps to increase consumption and consumer demand which eventually increases the GDP of an economy.
The estimated benchmark of inflation for a developed nation is around 2% and is meant to stimulate economic growth. However, anything above this could be damaging to the economy as it could affect the livelihoods of its population.