#FXTM Market Review
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USDJPY rises to 20-year high on dovish BOJ
USDJPY rises to 20-year high on dovish BOJ
USDJPY briefly touched the 131 level for the first time since 2002, before the currency pair was resisted at that psychologically-important handle.
The dovish Bank of Japan’s statement today had wrought more weakness on the Japanese Yen, which fell against all of its G10 and Asian peers today.
The equally-weighted JPY Index is now in the midst of erasing most of its gains from the past week.
Note…
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Golden Brokers Review
What is Golden Brokers?
Golden Brokers provides trading in Contracts for Difference (CFDs) across major products such as forex, commodities, indices, and shares to both beginner and professional traders. Traders have the opportunity to speculate on over 700 products using the MT5 platform, without incurring any commission fees. Additionally, they have the flexibility to choose from a variety of international payment methods. Golden Brokers enables access to leverage of up to 1:100 when trading major forex pairs. The broker also provides technical analysis.
Through our research, we uncovered additional information about the broker and gained insights into various aspects of Golden Brokers' operations.
Lack of serious registration: Golden Brokers Ltd. is authorized and regulated by the Labuan Financial Services Authority (LFSA) under license number MB/19/0030. Accordingly, Golden Brokers Ltd. is permitted to engage in business as a Money Broker and conduct specific categories of financial investment activities as allowed by the Labuan Financial Services and Securities Act 2010. This means Golden Brokers operates as an offshore broker. While some offshore brokers have quite good trust records, it's essential to conduct thorough research and carefully consider the risks before entrusting your funds to any offshore or unregulated broker.
Mostly negative client feedback: Golden Brokers does not stand out for its positive reviews from clients. The negative reviews are mostly about the unfavorable conditions of the broker, lack of transparency, bad customer service, impossibility of withdrawing money, etc.
Market Manipulations: Typically, when there is a lack of transparency and regulatory supervision, it creates conditions that are susceptible to market manipulation, posing threats to both market integrity and investor confidence. Therefore, it is imperative to select a broker that operates within a well-regulated framework to guarantee a secure trading environment.
Insufficient withdrawal process: Prioritizing the withdrawal process is essential as it is a vital aspect of the trading experience. Numerous traders have reported encountering similar issues with Golden Brokers, expressing concerns that when attempting to withdraw profits, the support team encourages further investments. This scenario often results in the loss of their funds and is typical to many offshore brokers.
Overall Golden Brokers Ranking
Thorough research showed significant concerns regarding the reliability of Golden Brokers and its compliance with regulatory standards. Consequently, we are unable to provide a positive rating for Golden Brokers.
Golden Brokers Alternative Brokers
Given the apprehensions regarding the reliability and security of Golden Brokers, we strongly advise traders to explore alternative options that provide stronger regulatory oversight and improved trading conditions. Below, we have compiled a list of reputable brokers that offer dependable choices and a secure trading environment for your consideration:
ThinkMarkets – Competitive Spreads
FXTM – Good for Beginners and Good Fees
Go Markets – Wide Range of Trading Instruments
Deposits and Withdrawals
Users have the flexibility to make deposits to and withdrawals from their Golden Brokers accounts using various methods, including bank wire transfers, credit cards, debit cards, and online wallets such as Neteller. There is a minimum deposit limit of $100.
There is not much information regarding the broker's withdrawal process. Given Golden Brokers' offshore registration, we recommend being very careful while considering investing with the broker.
Account Types
Golden Brokers facilitates trading through the widely used MT5 platform, which offers a plethora of tools and instruments that users can customize to conduct comprehensive technical analysis and manage their positions effectively. This platform is accessible on both Windows and Mac operating systems. When conducting trades through the MT5 platform, traders have access to Copy Trading, technical analysis, automated trading, hedging, trading signals, and other favorable features and strategies.
Golden Brokers Review Conclusion
Based on the information we have gathered regarding Golden Brokers, there are notable concerns about the broker’s trustworthiness and credibility. The primary apprehension revolves around the absence of tight regulation. Golden Brokers is only regulated by the Labuan Financial Services Authority, lacking a top-tier license. Besides, along with the lax regulation, there is a multitude of complaints and negative reviews related to the broker’s withdrawal process, insufficient customer support, transparency, etc.
Our recommendation is to prioritize brokers that hold licenses from reputable authorities such as FCA, ASIC, or CySEC. Most regulated brokers offer excellent services and favorable trading conditions, at the same time following top-tier regulations, thus ensuring a secure trading environment. Some of the regulated brokers with good standing in the market are Eightcap, OANDA, and FP Markets.
Overall ranking and experience for Golden Brokers is Negative.
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Top Forex Brokers of 2023: A Review of Their Features and Services
Introduction:
With a daily trading volume of over $6 trillion, the Forex market is one of the world's largest and most liquid financial markets. With such a vast market, finding the right Forex broker can be a challenging task. There are a plethora of options available, each with its own set of features and services. This article will review the top 10 Forex trading platforms of 2023. Providing you with all the essential information to make an informed decision.
IG:
IG is a UK-based broker with over 45 years of experience in the industry. They offer access to over 17,000 financial markets, including Forex, CFDs, and cryptocurrencies. IG is a regulated broker, ensuring the safety and security of client funds. Their platform is user-friendly, offering advanced charting tools and a range of trading indicators. IG also provides educational resources, including webinars and trading guides, to help traders develop their skills.
CMC Markets:
CMC Markets is a UK-based broker that has been operating for over 30 years. They offer a range of financial products, including Forex, CFDs, and spread betting. CMC Markets is a regulated broker, ensuring client funds are protected. CMC Markets also provides educational resources, including webinars and trading guides, to help traders develop their skills.
eToro:
eToro is a social trading platform that enables traders to replicate successful traders' trades. They offer a range of financial products, including Forex, stocks, and cryptocurrencies. eToro is a regulated broker that ensures the safety and security of client funds. Their platform is user-friendly, with a range of tools for the both beginners and advanced traders. eToro also provides educational resources, including webinars and trading guides, to help traders develop their skills.
Pepperstone:
Pepperstone is an Australian-based broker that has been operating for over ten years. They offer a range of financial products, including Forex, CFDs, and cryptocurrencies. Pepperstone is a regulated broker, ensuring the safety and security of client funds. Pepperstone also provides educational resources, including webinars and trading guides, to help traders develop their skills.
XM:
XM is a Cyprus-based broker that has been operating for over ten years. They offer a range of financial products, including Forex, CFDs, and commodities. Their platform is user-friendly, with many tools and indicators for advanced traders. XM is a regulated broker, ensuring the safety and security of client funds. XM also offers learning resources, such as webinars and trading guides, to help traders improve their potential.
Forex.com:
Forex.com is a US-based broker that has been in the industry for over 20 years. They offer a range of financial products, including Forex, CFDs, and cryptocurrencies. Forex.com is a regulated broker, ensuring the safety and security of client funds. Forex.com also provides educational resources, including webinars and trading guides, to help traders develop their skills.
FXTM:
FXTM is a Cyprus-based broker that has been operating for over 10 years. They offer a range of financial products, including Forex, CFDs, and cryptocurrencies. FXTM is a regulated broker, ensuring the safety and security of client funds. FXTM also provides educational resources, including webinars and trading guides, to help traders develop their skills
AvaTrade:
AvaTrade is an Irish-based broker that has been operating for over 15 years. They offer a range of financial products, including Forex, CFDs, and cryptocurrencies. AvaTrade is a regulated broker, ensuring the safety and security of client funds. AvaTrade also provides educational resources, including webinars and trading guides, to help traders develop their skills.
Plus500:
Plus500 is a UK-based broker that has been operating for over ten years. They offer a range of financial products, including Forex, CFDs, and cryptocurrencies. Plus500 is a regulated broker that ensures the safety and security of client funds. Plus500 also provides educational resources, including webinars and trading guides, to help traders develop their skills.
IC Markets:
IC Markets is an Australian-based broker that has been operating for over ten years. They offer a range of financial products, including Forex, CFDs, and cryptocurrencies. IC Markets is a regulated broker that ensures the safety and security of client funds. IC Markets also offers educational materials. It includes webinars and trading guides to assist traders in improving their skills.
Conclusion:
Given the abundance of options, selecting the best Forex broker can be a tough task. Yet, by considering the features and services offered by each broker, you can narrow down your options. Then find the one that best suits your trading needs. The top Forex brokers list of 2023 reviewed in this article are all regulated and provide educational resources to help traders develop their skills. The choice of a Forex broker depends on your trading style and preferences. So, take the time to search and make an informed conclusion. Get a detailed report about these best online forex brokers from Trading Critique. Visit our website today and join the learners' community.
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FXTM Review: 5 facts to consider (February 2023)
Following its exponential growth on the European market and beyond, it would not be an exaggeration to say that FXTM quickly became one of the best known and most trusted brands in the forex industry.To get more news about fxtm review, you can visit wikifx.com official website.
Using innovative technologies and products, FXTM gained recognition on highly competitive financial markets and has been continuously acknowledged by multiple awarding bodies.
FXTM operates under the umbrella of Exinity Group, which also represents Alpari International. In different regions around the world FXTM is represented by its subsidiaries:
ForexTime Ltd, based in Cyprus and regulated both by the Cyprus Securities and Exchange Commission (CySEC) with CIF license number 185/12, and the Financial Sector Conduct Authority (FSCA) of South Africa, with FSP No. 46614;
Exinity UK Limited, based in London and authorized and regulated by the Financial Conduct Authority (FCA) in the UK with license number 777911;
Exinity Limited, registered in the Republic of Mauritius and regulated by the Financial Services Commission (FSC) of the Republic of Mauritius with an Investment Dealer License with license number C113012295;
Exinity Capital East Africa Ltd, registered in Nairobi, Republic of Kenya and regulated by the Capital Markets Authority (CMA) of the Republic of Kenya as a Non- Dealing Online Foreign Exchange Broker with license number 135.
Under the guidelines of the European Securities and Markets Authority (ESMA) all brokers operating in the European Union should be licensed by at least one official national regulatory institution as for example the Cyprus Securities and Exchange Commission (CySEC) – as a matter of fact one of the most popular regulatory destinations in the forex industry. On our next screenshot you may take a look at the FXTM’s CySEC license.
The EU market is considered one of the most strictly regulated ones, when it comes to forex and CFD trading. Apart from being required to hold all clients’ money is segregated, protected from creditors, trust accounts, all EU brokers are also required to provide traders with a negative balance protection, meaning that no one can lose more money than what he or she has initially deposited.
On top of that all EU brokers should be holding at all times no less than 730 000 EUR, designated as a minimum operational capital, with which to cover all outstanding payments towards traders.
And we should not forget the special client compensations schemes, where all EU brokers are also obliged to participate, and which basically insure your trading account up to a certain amount – in the case of CySEC up to 20 000 EUR – payable in the unlikely event your broker files for bankruptcy.
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Trade of the Week: Hawkish Fed could send USD index to two-year high
Trade of the Week: Hawkish Fed could send USD index to two-year high
Trade of the Week: Hawkish Fed could send USD index to two-year high
han.tan@FXTM CY CA
Wed, 05/04/2022 – 12:00
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After weeks and months of speculation and volatility, FX markets are primed to react to the US Federal Reserve’s policy clues this week.
For all Articles related to FXTM please click here
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This Week: Ultra-hawkish Fed may exert more pain on FX world, global stocks
This Week: Ultra-hawkish Fed may exert more pain on FX world, global stocks
This Week: Ultra-hawkish Fed may exert more pain on FX world, global stocks
han.tan@FXTM CY CA
Tue, 05/03/2022 – 08:52
/s3-static/2022-05/Fed%20logo%20on%20dollar%20bill.jpg
Watch out for major central banks with pivotal decisions alongside these major data releases and economic events in the coming days:
Monday, 2 May
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Markets Spooked By China Lockdowns and Rate Hike Jitters
Markets Spooked By China Lockdowns and Rate Hike Jitters
Asian markets were wrapped in caution on Tuesday as investors nursed the nasty hangover from the previous day’s rout as fears over the impact of China’s new lockdowns lingered in the air.
Overnight, Wall Street was thrown a lifeline later in the session after Twitter agreed to be bought by billionaire Elon Musk. In the currency space, the mighty dollar climbed to its highest level since March…
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New Highs As Rates Slide
New Highs As Rates Slide
The risk rally continues to break new ground today as the laissez-faire Fed looks benignly on the rate outlook in the US and so will maintain its commitment to supportive policy for “some time” yet. The economy is still far short of its target even as Fed members acknowledged an improving outlook buoyed by massive fiscal spending and accelerating vaccinations. This is manna to stock market bulls…
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EURUSD poised to breach 50-day SMA
EURUSD poised to breach 50-day SMA
EURUSD has been testing its 50-day simple moving average (SMA) as a key resistance level of late. Although the currency pair’s uptrend since late May remains intact, with its 100-day SMA serving as a trusty support level on a couple of occasions since November, the shared currency has weakened by about 0.7 percent against the US dollar so far in 2021. The euro has also declined against most G10…
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#Currencies#Currency#Dollar#Euro#EURUSD#ForexTime#FXTM#FXTM Market Review#Greenback#Market Review#Moving Average#Resistance#SMA#Support#Uptrend#US Dollar
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Volatility subsides as markets await next Covid-19 development
Asian stocks are mixed while US futures are now lower, as investors struggle to justify recent gains amid the ominous global economic outlook. Still, equity markets have calmed down noticeably, with the VIX having declined by 35 percent since its March 16 peak, although it is still more than three times the average over the past five years. That said, investors must remain vigilant against…
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Trade Of The Week: Is The Pound In Trouble?
Trade Of The Week: Is The Pound In Trouble?
Sterling hijacked our attention last Friday after tumbling to levels not seen since November 2020!
It has stumbled into the new week under renewed pressure, struggling to nurse deep wounds inflicted by the dismal retail sales and consumer confidence data. Mounting concerns over the cost-of-living crisis dragging the UK economy into a recession continue to hammer the pound, which his currently…
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Week Ahead: Can USDJPY hit fresh 20-year high above 130?
Week Ahead: Can USDJPY hit fresh 20-year high above 130?
Shifting expectations for the next policy moves by major central banks remain a key theme across global financial markets, as investors and traders digest these major data releases and events in the week ahead:
Monday, April 25
EUR: Euro to react to Sunday’s French presidential election results
EUR: Germany April IFO business climate
Tuesday, April 26
JPY: Japan March unemployment
USD: US April…
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Why is the Yen so weak?
Why is the Yen so weak?
The Japanese Yen is now trading around a 20-year low against the US dollar.
The last time USDJPY traded at these levels just below 130, Eminem had just released his hit 2002 track, “Without Me”.
Last Tuesday, USDJPY posted its biggest single-day climb since November 2020, only to then take a breather for the time being.
(Note: weaker Yen versus the US dollar = USDJPY climbs higher).
In fact,…
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A volatile week ahead for financial markets?
A volatile week ahead for financial markets?
Stocks in Asia traded cautiously on Tuesday, following a negative close on Wall Street overnight as growth concerns, inflation worries and geopolitical tensions hit risk sentiment. European markets opened lower this morning due to the deepening crisis in Ukraine, with the caution likely to find its way back to US markets this afternoon. In the currency space, the mighty dollar rose to a fresh…
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Trade of the Week: Gold set to breach $2000 again. What’s next?
Trade of the Week: Gold set to breach $2000 again. What’s next?
As mentioned in our Week Ahead outlook (posted on Fridays), gold was expected to rise on a souring outlook for the global economy.
The precious metal duly started off the week by rising to within a whisker of the psychologically-important $2000 mark.
Gold’s climb is all the more remarkable in light of the advances seen in the US dollar and Treasury yields.
Typically, gold has an inverse…
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