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Trading Platform Features NordFX

 

The following trading platforms are available on Nord FX:

 

  1. MetaTrader 4: The MT4 platform is available on NordFX and can be used on desktops, iPhones, iPads, and Android devices. There is also the MT-ECN bridge where the price quotes are delivered from the Currenex ECN platform and sent to the MT4 for the use of traders.
  2. The BlackBerrytrader is available from the Blackberry App World as a trading application unique to BB devices.
  3. NFX Trades is the ECN professional trading platform based on the FIX Protocol and designed after the Currenex ECN platform. It provides for multiple price quotes, faster executions and reduced transaction costs.
  4. MetaTrader5 trading platform designed to arrange brokerage services in Forex, CFD, Futures, as well as equity markets.
  5. ZuluTrade is Automated forex trading platform which provide preofessional traders signal.
  6. Binary option are among the most popular and high-yielding trading instruments. The idea is very simple – select a trading asset, set an investment amount and make a prediction whether the price of the asset will go up or down by a certain time (expiry).

 

 

 

Visit NordFX for more Information...

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“DemoCup” Contes at NordFX - Prize Real Money

 

Results Stage 6 Demo Contest NordFX in 1 2015 :

 

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Registration for next stage (Stage 7) have been opened :

 

Start: 29.06.2015 00:00 (server time)

Finish: 10.07.2015 22:00 (server time)

 

Free to participate in the contest.

 

 

More Info : DEMOCUP NordFX

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In order to choose professional forex brokers wisely, you need to do proper homework to estimate the trustiness of your broker. There are lots of brokers that are not reliable to work with because they will always leave you when you need them badly.

 

That is why, we recommend choosing NordFX as your Forex Broker.

 

NordFX trading conditions will allow you to feel confident in the market regardless of your financial capabilities, level of training and trading experience.

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NordFX has integrated a payment system FasaPay.

 

FasaPay advantages include:

• Transactions in IDR and USD

• Fast money transfers (within 2 hours)

• Small fees – 0.5% of the payment amount

• Secure funds transfers due to 256-bit AES encryption

• Clear and easy system of deposits and withdrawals

 

How does it work?

• Open a FasaPay account

• Make a deposit into your FasaPay account

• Fund your trading account via FasaPay in the NordFX Trader’s Cabinet

 

Now NordFX customers get an opportunity to quickly and efficiently fund their accounts and withdraw money not only in US dollars but also in Indonesian rupees (IDR).

 

We trust that with FasaPay your work with NordFX trading accounts will become even more convenient and effective.

 

 

Open Your NordFX Account!

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Generalized Forex Forecast for 22-26 June 2015

 

First, let’s review last week’s predictions:

- the forecast for the EUR/USD pair for the previous five days was based on the assumption of a monthly sideways trend in the range of 1.1050-1.1350 with Pivot Points along 1.1260. With that, the possibility of a rise at the start of the week was not excluded. Until Wednesday, EUR/USD followed the forecast to the letter but later, due to the news from the US Federal Reserve, it shot upwards, breaking through the level of resistance at 1.1350. Then, however, the pair quickly returned to the mentioned range and finished the week near its upper boundary;

- the analysts and the indicators were certain that GBP/USD would grow to 1.5680. Before that, according to graphical analysis, the pair was supposed to fall to the support level around 1.5440. That actually happened – on Monday the pair fell to 1.5487 and then went upwards, reaching the target upper boundary by Wednesday. Later on, the news from England and the USA started to actively push the British pound even higher, which resulted in the pair reaching the level of last December;

- despite the reports from the USA, the USD/JPY pair managed to remain in the mentioned range of 122.45-125.00 with the Pivot Point at 123.50, fulfilling the forecast 100%;

- in the standoff between the analysts and the indicators about the future of USD/CHF, the latter came out to be right, supported by graphical analysis. As predicted, the pair first went up and then dropped down, reaching the support level at 0.9250. Then, due to the very same news from the USA, the pair decisively broke through it and turned the support into the upper level of a sideways trend.

 

Now regarding the forecast for this week. Summarizing the opinions of 35 analysts from world leading banks and broker companies, as well as forecasts based on different methods of technical and graphical analysis, the following can be put forward:

- the absolute majority of the experts tend to believe that EUR/USD will remain in the monthly sideways trend and thus will have to fall to its bottom boundary around 1.1200 and even further to 1.1160. Graphical analysis confirms this. The indicators are definitely (74%) against all of the above. Most likely, the pair’s movements early in the week will make it clear which of the forecasts should be trusted;

- the indicators show just one thing for GBP/USD – only an upward movement. The analysts, in turn, are again at a loss: ↑ – 33%, → – 12%, ↓ – 55%. Graphical analysis as an arbitrator supports the pair’s entering into a sideways trend and a fall to the levels of the beginning of May. Support will be around 1.5800 and 1.5740;

- most experts (60%), indicators (52%) and even graphical analysis agree that GBP/USD should first fall to 121.50-122.00 but their further forecasts diverge. Even with graphical analysis, there is an antagonism – the H4 timeframe clearly shows a rebound upward and a 122.00-124.50 sideways corridor while D1 pulls the pair further down to support at 120.00, the level off which the pair may rebound and rise even above 126.00;

- all forecasts of the experts regarding the USD/CHF pair continue to spin around 0.9250. At first, it was support, then became resistance, and now the experts consider it a Pivot Point. Yet the indicators propose a slightly lower Pivot Point around 0.9180-0.9200. In both cases the talk is about a sideways trend, the difference being that in the former case, the boundaries are set in the range of 0. 9080-0. 9390 while in the latter, upper resistance will be about 0.9250.

 

Roman Butko, NordFX

A good place to start from is where you are.

Murphy's Law

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Generalized Forex Forecast for 22-26 June 2015

 

First, let’s review last week’s predictions:

  • the forecast for the EUR/USD pair for the previous five days was based on the assumption of a monthly sideways trend in the range of 1.1050-1.1350 with Pivot Points along 1.1260. With that, the possibility of a rise at the start of the week was not excluded. Until Wednesday, EUR/USD followed the forecast to the letter but later, due to the news from the US Federal Reserve, it shot upwards, breaking through the level of resistance at 1.1350. Then, however, the pair quickly returned to the mentioned range and finished the week near its upper boundary;
  • the analysts and the indicators were certain that GBP/USD would grow to 1.5680. Before that, according to graphical analysis, the pair was supposed to fall to the support level around 1.5440. That actually happened – on Monday the pair fell to 1.5487 and then went upwards, reaching the target upper boundary by Wednesday. Later on, the news from England and the USA started to actively push the British pound even higher, which resulted in the pair reaching the level of last December;
  • despite the reports from the USA, the USD/JPY pair managed to remain in the mentioned range of 122.45-125.00 with the Pivot Point at 123.50, fulfilling the forecast 100%;
  • in the standoff between the analysts and the indicators about the future of USD/CHF, the latter came out to be right, supported by graphical analysis. As predicted, the pair first went up and then dropped down, reaching the support level at 0.9250. Then, due to the very same news from the USA, the pair decisively broke through it and turned the support into the upper level of a sideways trend.

 

Now regarding the forecast for this week. Summarizing the opinions of 35 analysts from world leading banks and broker companies, as well as forecasts based on different methods of technical and graphical analysis, the following can be put forward :

  • the absolute majority of the experts tend to believe that EUR/USD will remain in the monthly sideways trend and thus will have to fall to its bottom boundary around 1.1200 and even further to 1.1160. Graphical analysis confirms this. The indicators are definitely (74%) against all of the above. Most likely, the pair’s movements early in the week will make it clear which of the forecasts should be trusted;
  • the indicators show just one thing for GBP/USD – only an upward movement. The analysts, in turn, are again at a loss: ↑ – 33%, → – 12%, ↓ – 55%. Graphical analysis as an arbitrator supports the pair’s entering into a sideways trend and a fall to the levels of the beginning of May. Support will be around 1.5800 and 1.5740;
  • most experts (60%), indicators (52%) and even graphical analysis agree that GBP/USD should first fall to 121.50-122.00 but their further forecasts diverge. Even with graphical analysis, there is an antagonism – the H4 timeframe clearly shows a rebound upward and a 122.00-124.50 sideways corridor while D1 pulls the pair further down to support at 120.00, the level off which the pair may rebound and rise even above 126.00;
  • all forecasts of the experts regarding the USD/CHF pair continue to spin around 0.9250. At first, it was support, then became resistance, and now the experts consider it a Pivot Point. Yet the indicators propose a slightly lower Pivot Point around 0.9180-0.9200. In both cases the talk is about a sideways trend, the difference being that in the former case, the boundaries are set in the range of 0.9080-0.9390 while in the latter, upper resistance will be about 0.9250.

 

Roman Butko, NordFX

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Are you Professional Trader ?

Show and try you skill on NordFX.

 

Are you Beginner Trader ?

Please try and practice your skills on a demo account NordFX first.

Test and train your skills at Demo Contest - "DemoCup" NordFX - 2 weekly contest every stage.

Then look at the Real Account virulence after that :)

 

Are you Binary Option Trader ?

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Join “DemoCup” at NordFX - Prize Real Money

 

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More Info : DEMOCUP NordFX

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How to be come Partners/IB in Nord FX?

 

To become a Partners/IB NordFX you have to do 2 simple steps!

 

1. Open a Trading Account USD (Micro, Standard or MT-ECN). *

2. Get IB status, your affiliate link and promo materials in order to attract clients by filling out the Affiliates form at Trader Cabinet. **

 

* You can also use the same account to trade.

 

** You must verify your account (upload scanned ID/passport and make sure your name and address in accordance with that which you are registered). Fill out the form in accordance with the directions on the Trader's Cabinet.

 

Open Account Partne/IB Now!!!

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Generalized Forex Forecast for 29 June - 3 July 2015

 

First, a review of the forecast for the past week:

  • most experts suggested that the EUR/USD pair would hold in the monthly sideways trend and therefore descend to its lowest level around 1.1200 and possibly beyond that to 1.1160, which happened with 100% accuracy;
  • taking into consideration the opinion of 55% of the analysts and graphical analysis indications, the GBP/USD pair was predicted to go down to the 1.5740 support level. The forecast was also fulfilled as the pair finished the business week at that level precisely;
  • the prediction of the 122.00-124.50 sideways corridor for USD/JPY also ended up being correct. However, it was said that before getting to the upper boundary of the corridor, the pair would descend to just below 122.00 but it didn’t happen. Nonetheless, there was a just minor descent, and on Monday the pair lunged upwards, making it to the 124.40-124.50 resistance level by Wednesday;
  • the experts set 0.9390 as a resistance level for USD/CHF. The pair reached this mark already on Tuesday, after which its volatility rapidly diminished and the pair continued to move within a much more modest range of 0.9285-0.9390 for the rest of the week.

 

Forecast for the upcoming week.

Generalizing the opinions of 35 analysts from world leading banks and brokerage companies, as well as forecasts based on various methods of technical and graphical analysis, the following can be concluded :

  • both the majority of the experts and the indicators foretell a further sideways trend for EUR/USD, with the bears enjoying a certain advantage. Thus, 1.1035 can be considered as a likely strong support level. The upper boundary of the corridor remains at 1.1450, the Pivot Point is 1.1200;
  • according to the analysts, the GBP/USD pair will most probably be in a sideways trend too. Unlike the EUR/USD scenario, bullish tendencies will dominate here. Due to this, one can’t rule out either the pair’s rise to the upper boundary of the corridor at 1.5930 or a break through it and an upward movement towards 1.6000;
  • the experts and the indicators agree that the bears will also demonstrate their strength in the battle for the future of the USD/JPY pair. A likely Pivot Point is 123.85, last week’s final level, while the pair’s target will be a break through resistance around 124.40 and reaching 125.00;
  • the USD/CHF pair displays an inverse correlation with EUR/USD time and time again, in view of which USD/CHF can be expected to rise to 0.9400 or even further to 0.9450.

 

 

Roman Butko, NordFX

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NordFX provide deposit and withdrawal methods are very much to facilitate the process of the Fast Deposit and Withdrawal. For electronic payment system process is instant deposits and withdrawals are 1-2 hours, maximum of 1x24 hours.

 

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Deposit your Account by use the most secure, convenient and profitable payment system for you here.

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  • Accepting all Electronic Advisor.
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  • Best and low Spread
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  • Profesional Terminal
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NordFX is an international broker that provides to individuals and corporations a complete complex trading services in the international foreign exchange market.

 

NordFX used base technology with all necessary instruments and best conditions - Metatrader 4 (and Metatrader 5):

  • No requotes! A paradise for scalpers!!
  • REAL instant execution without manual dealers – less than one second
  • Usage of supplements (expert advisers, signals) without any restrictions
  • Variety of fund transfer methods (local deposits in some countries)
  • Partnership program

 

Direct access to ECN, which will expand your trading opportunities :

  • The best prices from the Interbank market
  • Lowest spreads
  • No Dealing Desk

 

Ready for a new level of trading, Join with NordFX.

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Yuan 2020: Buy or Sell?

 

A recent report by the Society for ********* Interbank Financial Telecommunication (SWIFT) says that China’s national currency got firmly established in the top 5 of the most used currencies of the world’s economy. Moreover, the share of yuan payments globally has been rising sharply and exceeded 2 percent. Even more impressive is the value of yuan transactions in international trade – one of these days it will surpass 10 percent.

 

Over the past five years, the yuan has turned into a major regional currency, primarily due to China’s trade integration with the main developing markets. In East Asia, there’s actually a bloc of countries that have pegged their national currencies to the yuan more than to the US dollar. They include Indonesia, Malaysia, Singapore, Taiwan, Thailand, the Philippines and South Korea.

 

The Economist Intelligence Unit (EIU) forecasts that by 2020 China will become the world’s second largest economy and Chinese population’s purchasing power will basically catch up with that of the United States.

 

HSBC experts echo the EIU opinion, albeit with an important reservation – The yuan is set to become a major world currency quite soon. However, it doesn’t mean that the yuan will replace the US dollar as a dominant reserve currency. Instead, it will help to create a more comprehensive system of reserve currencies, with the dollar, the euro and the yuan playing their respective part.

 

Pundits from the Peterson Institute for International Economics (Washington, USA), one of the most renowned think tanks focused on international economics, say that the yuan would need 10 to 15 years to turn into a full-fledged reserve currency alongside the US dollar. Towards this end, China has to carry out a number of reforms and first of all open up the foreign and finance sectors of its economy.

 

Standard Chartered finance gurus differ on this and believe that by 2020 China won’t just catch up with the US economy but overtake it.

 

NordFX leading analyst John Gordon weighs in, “With this said, the key question is whether China’s government would want to deal with all the issues pertaining to turning the yuan into a global currency. On the one hand, China is obviously interested in becoming less dependent on the dollar but, on the other hand, it can be achieved only by loosening restrictions on its foreign exchange and capital markets at the very least. The fixed exchange rate shields the yuan from external speculative attacks. What will happen if this protection goes down and the yuan trades freely? Would China really want to see this rather risky process through?”

 

It’s no secret that from the very start of his first presidential term Barack Obama tried to put pressure on the Chinese government to quit devaluing the yuan rate artificially. But if the yuan is traded freely, Chinese products will get much more expensive, which, in turn, will hurt their competitiveness abroad and substantially change China’s export-orientated economy. Will Chinese leadership venture on this path?

 

“At NordFX, we closely watch everything related to financial markets, – continues John Gordon. – Judging by the latest rhetoric, Chinese authorities sound very decisive. It would suffice to recall that Yi Gang, Director of the State Administration of Foreign Exchange and Deputy Governor of the People's Bank of China, announced that China had already started talks with the IMF about including the yuan into the global reserve currency basket in the near future.”

 

According to this high-ranking official, the yuan meets all IMF requirements at this time. Hence, it appears that the issue has to do more with politics rather than economy.

 

As far as the Forex market is concerned, the main factor here is exchange rate fluctuations. Debating a five-year investment horizon for the yuan, many analysts predict it would rise by 15-17 percent. However, Yi Gang’s interview with Bloomberg in Beijing highlights two important things. First and undeniable is that the Chinese currency has been very stable over the last few years, and the other and thought-provoking is the assurance that the yuan will remain as stable in the future.

 

What’s also noteworthy is three main directions of China’s policy singled out in a Financial Times article:

- China tends to purchase fewer US Treasurys;

- China broadens its overseas expansion program;

- promotion of the yuan as a global currency is encouraged as it gradually sets China free from the dollar.

 

The Financial Times article seems to imply that the era of boundless privileges for the USA as the emitter of the main global currency is coming to an end. It is going to be replaced by a dual currency world – the US dollar and the yuan. However, due to the fact the yuan exchange rate was, is and will be fixed by the Chinese government for a while, the profitability of long-term yuan investments is rather questionable. Nonetheless, considering limited and controlled volatility, short-term speculations may actually appeal to traders.

A good place to start from is where you are.

Murphy's Law

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Generalized Forex Forecast for 6-10 July 2015

 

First, a few words about last week’s forecast :

  • the predictions for EUR/USD turned out to be correct – a further sideways trend with an advantage for the bears that were expected to push the pair down to the 1.1035 support level. Even a formidable gap over the weekend didn’t get in the way. After the gap, the pair quickly recovered its initial standing and started to follow the forecast – it descended to a 1.1032 support level under bearish pressure and then, confirming the prediction about the sideways trend, slowly continued upward to month old rates;
  • as for GBP/USD, the analysts put their foot into it this time. For the first half of the week, as predicted, the pair tried to stay in the sideways corridor but then rushed downwards, finishing at a strong support level around 1.5550;
  • the experts and the indicators agreed that the bulls would have the upper hand with USD/JPY and would push it upwards. It would have happened but for the gap on the weekend. In fact, the bulls had to clear up the consequences of that fall and succeeded, for the record. Already by mid-week, the pair returned to the sideways corridor it had stayed in since the beginning of June;
  • USD/CHF finished the week exactly at the predicted level of 0.9400, albeit with some delay.

 

Forecast for the upcoming week.

One can be certain that this week the results of the Greek referendum would have the final say on currency fluctuations. For this reason, it would stand to reason to focus on the opinions of analysts from world leading banks and broker companies rather than indicator readings this time round :

  • 64% of the reviewed experts don’t foresee a bright future for the euro. They believe that EUR/USD should fall by 100-200 points at least. Only 18% of the analysts claim that the euro would rise to 1.1250. Interestingly enough, they include an expert from Greece. But even his short-term optimism is overshadowed by the long-term forecast that that by the end of the summer the pair should get to a 1.0500-1.0700 level;
  • the opinions of the analysts about GBP/USD have split almost equally – 44% argue for its fall, 44% for its rise and 12% remain undecided. According to graphical analysis, the pair should descend to 1.5430-1.5500 by the middle of the week and then return to the 1.5550-1.5616 range;
  • the experts, the technical indicators and graphical analysis stay unanimous that the Pivot Point for USD/JPY should be at 124.00, meaning that the pair is on the threshold of an upward leap to 125.00. Support can be at 122.00;
  • the USD/CHF pair is expected to continue to fall but this time to 0.9330 and possibly even lower to 0.9280.

 

In conclusion, it’s worth mentioning again that the accuracy of this forecast largely depends on a rather small country called Greece. Therefore, it would make sense to not only wait for the referendum outcome but also for ensuing reactions on financial markets.

 

Roman Butko, NordFX

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Generalized Forex Forecast for 6-10 July 2015

First, a few words about last week’s forecast:

- the predictions for EUR/USD turned out to be correct – a further sideways trend with an advantage for the bears that were expected to push the pair down to the 1.1035 support level. Even a formidable gap over the weekend didn’t get in the way. After the gap, the pair quickly recovered its initial standing and started to follow the forecast – it descended to a 1.1032 support level under bearish pressure and then, confirming the prediction about the sideways trend, slowly continued upward to month old rates;

- as for GBP/USD, the analysts put their foot into it this time. For the first half of the week, as predicted, the pair tried to stay in the sideways corridor but then rushed downwards, finishing at a strong support level around 1.5550;

- the experts and the indicators agreed that the bulls would have the upper hand with USD/JPY and would push it upwards. It would have happened but for the gap on the weekend. In fact, the bulls had to clear up the consequences of that fall and succeeded, for the record. Already by mid-week, the pair returned to the sideways corridor it had stayed in since the beginning of June;

- USD/CHF finished the week exactly at the predicted level of 0.9400, albeit with some delay.

 

Forecast for the upcoming week.

One can be certain that this week the results of the Greek referendum would have the final say on currency fluctuations. For this reason, it would stand to reason to focus on the opinions of analysts from world leading banks and broker companies rather than indicator readings this time round:

- 64% of the reviewed experts don’t foresee a bright future for the euro. They believe that EUR/USD should fall by 100-200 points at least. Only 18% of the analysts claim that the euro would rise to 1.1250. Interestingly enough, they include an expert from Greece. But even his short-term optimism is overshadowed by the long-term forecast that that by the end of the summer the pair should get to a 1.0500-1.0700 level;

- the opinions of the analysts about GBP/USD have split almost equally – 44% argue for its fall, 44% for its rise and 12% remain undecided. According to graphical analysis, the pair should descend to 1.5430-1.5500 by the middle of the week and then return to the 1.5550-1.5616 range;

- the experts, the technical indicators and graphical analysis stay unanimous that the Pivot Point for USD/JPY should be at 124.00, meaning that the pair is on the threshold of an upward leap to 125.00. Support can be at 122.00;

- the USD/CHF pair is expected to continue to fall but this time to 0.9330 and possibly even lower to 0.9280.

 

In conclusion, it’s worth mentioning again that the accuracy of this forecast largely depends on a rather small country called Greece. Therefore, it would make sense to not only wait for the referendum outcome but also for ensuing reactions on financial markets.

 

Roman Butko, NordFX

A good place to start from is where you are.

Murphy's Law

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NordFX now open an opportunity to Deposit and Withdrawal in Indonesian Rupiah (IDR). This give Indonesian traders more easy for Local Deposit with NordFX and FasaPay.

 

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How does it work?

• Open a FasaPay account

• Make a deposit into your FasaPay account

• Fund your trading account via FasaPay in the NordFX Trader’s Cabinet

• Instant process, once deposit process completed the funds direct available in your NordFX account.

 

Open your Account Now!!!

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Trading Signals NordFX

 

NordFX offers all its customers access to an innovative autotrading service “Signals” from the developer of MT4 and MT5 platforms – MetaQuotes Software Corp.

 

Advantages of the “Signals” service:

 

  • simple and easy subscription to signals;
  • special protection of subscribers from wrong calculations of trading lot sizes and excessive deposit burden;
  • complete transparency of trading history;
  • a high level of security both for traders and signals providers;
  • no third-party access to accounts and balances held by traders and providers – even the investor password isn’t requested for subscription;
  • signal subscription can be for a fee or free of charge. The standard subscription term is 1 month. In case of paid subscription, a small fixed fee is charged;
  • no increased spreads or commissions

 

Learn more about “Signals” Trading Service here:

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MT-ECN account NordFX

 

"MT-ECN" account is designed for wide range of experienced traders who like the opportunity to trade with minimum expenses. Quotes have 5th point precision (3th for the Yen pairs). "MT-ECN" accounts are served through MT4 platform.

 

Trading Condition :

  • $1000 minimum deposit;
  • 27 currency pairs, gold, silver;
  • Dynamic spread from 0 pips;
  • Leverage 1:100;
  • Minimal lot 0.1;
  • Maximum lot 20 with step 0,1;
  • Level of margin call /stop out 100%/50%*;
  • 5th point precision;
  • Without stop/limit and freeze levels;
  • Commission (turnover less than 900 lots per month): $5/lot;
  • Commission (turnover more than 900 lots per month): $3.5/lot;

 

 

Open Your MT-ECN NordFX Account

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Generalized Forex Forecast for 13-17 July 2015

 

Let’s start with a review of last week’s forecast:

- regarding EUR/USD, 64% of the analysts expected the pair to fall by at least 100-200 points while 18% of the analysts claimed that the euro would rise to 1.1250. Following the news from Greece, both forecasts were fulfilled – the week started with a gap of 140 points, on Tuesday the drop made the mentioned 200 points, then the pair started to go up and reached 1.1215 by the end of the week;

- the predictions for GBP/USD were also correct. According to graphical analysis, the pair was supposed to go down to 1.5430-1.5500 mid-week and then return to the 1.5550-1.5616 marks. All of that happened indeed – GBP/USD descended to 1.5430 on Tuesday, reached its low of 1.5330 on Wednesday and then soared up to 1.5555;

- the experts, the technical indicators and the graphical analysis readings were only partly right about USD/JPY. Their forecast about the 122.00 support level held up for the first half of the week, after which the pair had a dive to 120.45. Then it made a U-turn, rushed upwards and ended up at the level of the beginning of the week, i.e. 122.75;

- the USD/CHF pair was expected to fall to 0.9330, and it did happen. After putting up resistance for a while, the pair crashed down at the end of the week. It was able to stay at the 0.9330 target jusе for one minute.

 

Forecast for this week. Summing up the opinions of 35 analysts from world leading banks and broker companies as well as forecasts based various methods of technical and graphical analysis, the following can be suggested:

- just like last week, fluctuations on the currency market will largely depend on the events in Greece. At the same time, most experts (62%) and indicators (53%) predict that the EUR/USD pair will rise and move to around 1.1365. Graphical analysis, in turn, indicates a possible sideways trend with support at 1.1000 and resistance at 1.1215;

- as for GBP/USD, the opinions of the analysts (54% vs 46%) and indicator readings (H4 for a rise, D1 for a fall) diverge. Graphical analysis promises a repeat of last week’s scenario – the pair falling to around 1.5350 and then rising to resistance at 1.5555. In case of a breakthrough, the target will be 1.5930;

- the experts, the technical indicators and graphical analysis are unanimous about USD/JPY returning to around 123.50. However, at the start of the week, a short-term fall to the support level of 122.00 can’t be ruled out;

- the opinions about USD/CHF are split, though the majority of the analysts (64%) believe that last Friday’s finishing level of 0.9380 will become the main resistance, off which the pair will be bouncing down towards 0.9330 or even lower to 0.9250. Graphical analysis, however, puts forward an alternative scenario with 0.9380 as support. The start of week is likely to reveal which of the two scenarios will actually play out.

 

Roman Butko, NordFX

A good place to start from is where you are.

Murphy's Law

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Generalized Forex Forecast for 13-17 July 2015

 

Let’s start with a review of last week’s forecast :

  • regarding EUR/USD, 64% of the analysts expected the pair to fall by at least 100-200 points while 18% of the analysts claimed that the euro would rise to 1.1250. Following the news from Greece, both forecasts were fulfilled – the week started with a gap of 140 points, on Tuesday the drop made the mentioned 200 points, then the pair started to go up and reached 1.1215 by the end of the week;
  • the predictions for GBP/USD were also correct. According to graphical analysis, the pair was supposed to go down to 1.5430-1.5500 mid-week and then return to the 1.5550-1.5616 marks. All of that happened indeed – GBP/USD descended to 1.5430 on Tuesday, reached its low of 1.5330 on Wednesday and then soared up to 1.5555;
  • the experts, the technical indicators and the graphical analysis readings were only partly right about USD/JPY. Their forecast about the 122.00 support level held up for the first half of the week, after which the pair had a dive to 120.45. Then it made a U-turn, rushed upwards and ended up at the level of the beginning of the week, i.e. 122.75;
  • the USD/CHF pair was expected to fall to 0.9330, and it did happen. After putting up resistance for a while, the pair crashed down at the end of the week. It was able to stay at the 0.9330 target just for one minute.

 

Forecast for this week.

Summing up the opinions of 35 analysts from world leading banks and broker companies as well as forecasts based various methods of technical and graphical analysis, the following can be suggested :

  • just like last week, fluctuations on the currency market will largely depend on the events in Greece. At the same time, most experts (62%) and indicators (53%) predict that the EUR/USD pair will rise and move to around 1.1365. Graphical analysis, in turn, indicates a possible sideways trend with support at 1.1000 and resistance at 1.1215;
  • as for GBP/USD, the opinions of the analysts (54% vs 46%) and indicator readings (H4 for a rise, D1 for a fall) diverge. Graphical analysis promises a repeat of last week’s scenario – the pair falling to around 1.5350 and then rising to resistance at 1.5555. In case of a breakthrough, the target will be 1.5930;
  • the experts, the technical indicators and graphical analysis are unanimous about USD/JPY returning to around 123.50. However, at the start of the week, a short-term fall to the support level of 122.00 can’t be ruled out;
  • the opinions about USD/CHF are split, though the majority of the analysts (64%) believe that last Friday’s finishing level of 0.9380 will become the main resistance, off which the pair will be bouncing down towards 0.9330 or even lower to 0.9250. Graphical analysis, however, puts forward an alternative scenario with 0.9380 as support. The start of week is likely to reveal which of the two scenarios will actually play out.

 

 

Roman Butko, NordFX

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