Some distinguished features of FXOpen’s STP accounts

fxopen stp accounts

Straight Through Processing (STP) accounts have always been a favorite choice of brokers due to minimum spread, less risk and instant execution of orders. Many brokers offer the facility of STP accounts against some predetermined commission and initial deposit not less than $1000, hence making them less affordable for a majority of small-scale investors and traders. However, like many other revolutionary and distinctive offers, FXOpen has once again beat its competitors by offering the facility of STP accounts with mere $100 initial deposit and 0% commission.

What is an STP account?

Through STP accounts, a broker allows traders to deal directly with large liquidity providers, hence eradicating the concerns of a trader regarding execution time for an order, spread, slippage, or any other aspect of trading. Orders of a trader are transferred in real-time to interbank liquidity.

Why choose FXOpen for STP trading?

There are some features that distinguish FXOpen among other STP service providers, let’s have a quick look at a few of them.

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FXOpen Promo: Deposit till the End of the Year with No Commission

No Commission Deposit - FXOpen

From September 1, 2014 to January 1, 2015, you can deposit into an FXOpen account with zero commission.

It is a common practice to charge from 0.5 to 6% commission for deposits depending on the payment processor. However,starting on September 1, 2014, FXOpen will cover the expenses for loading your accounts. No commission will be chargedfrom deposits made by credit/debit cards or via any online payment system available with FXOpen.

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USD/CAD Slides Down Ahead of Canada’s Growth News

The US Dollar (USD) extended downside movement against the Canadian Dollar (CAD) on Friday, dragging the price of USD/CAD to less than 1.0850 ahead of some key economic events. The sentiment however remains positive due to Higher High in the recent upside rally as demonstrated in the following chart.

Technical Analysis

As of this writing, the pair is being traded near 1.0848. A support may be seen around the current level, the 38.2% fib level ahead of 1.0800, the confluence of psychological number, 55-Day Simple Moving Average (SMA) and 50% fib level as demonstrated in the following chart.

On the upside, the pair is expected to face a hurdle around 1.08850, the 200-Day SMA ahead of 1.0907, the 23.6% fib level and then 1.1000, the psychological level as well as swing high of the recent upside rally. The sentiment will remain bearish as far as the 1.0827 support area is intact.

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NZD/USD Rallies Amid Mixed US Economic Reports

The New Zealand (NZD) extended upside movement against the US Dollar (USD) on Thursday, increasing the price of NZD/USD to more than 0.8370 following the release of some major economic reports. The sentiment however remains bearish due to Lower Low in the recent correction wave.

Technical Analysis

As of this writing, the pair is being traded around 0.8375. A support may be seen near 0.8310, the low of the recent dip ahead of 0.8273, the swing low of the last major correction and then 0.8200, the psychological number. The pair yesterday formed a classic bullish setup, indicating upside rallies in the near future.

nzdusd

On the upside, NZD/USD is likely to face a hurdle near 0.8343, the 23.6% fib level ahead of 0.8469, the 200-Day Simple Moving Average (SMA) and then 0.8510, the 38.2% fib level as demonstrated in the above chart. The sentiment will remain bearish as far as the 0.8511 resistance area remains unbroken.

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Cryptocurrencies Range After Volatile Last Week

Things are calmer in cryptoland after a volatile last week. Bitcoin is stuck in a 10 percent range between $480 and $530 and Peercoin is trading between $0.8 per coin and parity. This is a sharp contrast with last week that saw BTC spike to a low of $334. Things are also looking up for Bitcoin’s silver, Litecoin. The altcoin has managed to climb back above the $5 mark after hitting a low of $3.40 on August 18th.

Bitcoin in a range between $480 and $530

Bitcoin is currently stuck in a range, marked in yellow on the chart below. The low point of the congestion is marked by the swing low at $483, while the high can be placed at the August 21st spike high at $528.92. A definitive break below $480 may lead to more losses toward $450. Below this, the $400 round figure may provide some support. Lower still, the $330 to $350 area will likely be well bid to repel any bearish assaults, at least in the near term.

btcusdh4

On the high end, a breakout above $530 may lead to a retest of $550. This level was important support on the way down and will likely be a significant resistance to any bitcoin rallies.

 

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EUR/USD Extends Slide As Germany’s Employment, Inflation Data Looms

The Euro (EUR) extended downside movement against the US Dollar (USD) on Wednesday, dragging the price of EUR/USD to less than 1.3170 as bears remain firmly in control. The bias is also bearish due to Lower Low in the ongoing correction wave.

Technical Analysis

As of this writing, the pair is being traded around 1.3163. A support may be seen near 1.3110, the horizontal support area ahead of 1.3100, the psychological level and then 1.3045, the 76.4% fib level as demonstrated in the following chart.

eurusd-d

On the upside, the pair is expected to face a hurdle near 1.3227, the 61.8% fib level ahead of 1.3374, the 50% fib level and then 1.3486, the 55-Day Simple Moving Average (SMA). The bias will remain bearish in the long run as far as the 1.3432 resistance area is intact.

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Bitcoin Stabilizes, Peercoin Bounces Off Parity

After a hectic last week that saw BTC/USD flash crash to a low of $334, prices have finally stabilized somewhat. For the past six days, bitcoin has been moving back and forth around the important $500 figure. The high of this congestion area stands at $528.92 and the low is at $483.03. A clearing of $530 may propel prices toward the $550 milestone. Bitcoin will have a hard time breaking this figure however, at least on its first try. This was the previous important support on the way down. A break of $550 on August 13th lead to quick losses of over $200 in the next few days.

btcusdh4

On the lower end, a decisive breakdown below $480 may lead to renewed losses toward $450. Lower still, we can find some support at the round $400 level. The area from $350 to the $334 swing low reached on August 17th will be strong support. If BTC can manage to take it out, bitcoin losses could spiral out of control. This is an unlikely scenario, at least in the near term. The $330-$350 area will be well bid after last week’s spike lower.

 

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USD/CAD Bounces Back As Canada’s CPI Report Looms

USD/CAD slid down on Friday to less than 1.0950, leaving a bearish engulfing pattern on the daily chart which is considered a good indication for the downside movement in short to medium term. Investors are however seen cautious ahead of some key economic releases which are due today in the US session.

Technical Analysis

As of this writing, the pair is being traded around 1.0941. A support can be seen near 1.09000, the psychological level as well as 23.6% fib retracement ahead of 1.0860-80, the confluence of 100 Daily Simple Moving Average (DSMA) and 200 DSMA and then 1.0760, the 61.8% fib level as demonstrated in the following  daily chart.

usdcad

On the upside, the pair is expected to face a hurdle near 1.0985, the horizontal resistance area before the 1.1000 handle which is an important psychological level. The bias will remain bullish as far as the 1.0619 support area is intact.

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GBP/USD Continues Losing Streak As Retail Sales Disappoint

The Great Britain Pound (GBP) extended downside movement against the US Dollar (USD) on Thursday, declining the price of GBP/USD to less than 1.6580 in the longest losing streak of the ongoing year. The sentiment has already turned to bearish due to a Lower Low on the daily chart.

Technical Analysis

As of this writing, the pair is being traded near 1.6577. A support can be seen near 1.6433, the swing low of the recent downside move ahead of 1.6256, the low of the last major dip as demonstrated in the following chart.

123

On the upside, the pair is expected to face a hurdle near 1.6535, the 76.4% fib level ahead of 1.6677, 200 Daily Simple Moving Average (DSMA) and then 1.6741, the 61.8% fib level. The sentiment will remain bearish in the long run as far as the 1.7191 resistance area is intact.

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Bitcoin Rebounds After Crash, Peercoin Rallies 70% From Lows

Bitcoin has staged an impressive rebound after flash crashing to $334 on Monday. Prices rallied 43 dollars on Tuesday and a further $27 on Wednesday, closing right at the $500 mark. In the early Asian trading session today, BTC continued the move up to hit $528 per coin.

btcusdh1

It is unclear where bitcoin will go from here. Since we managed to clear the $500 hurdle, prices should remain supported by this figure, at least in the near term. This is barring any external price shocks of course. A breakout above the resistance at $550 may trigger a new rally in the crypto. A technical breakdown below this previous support level was the catalyst for the losses we saw during the past week.

 

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