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Why I trade forex at FXPRIMUS?

When it comes to Forex trading, the forex broker that you choose to trade with can make or break your success. Right ? There are two major factors other than low spreads to consider when choosing a broker for your Forex trading. The first consideration is that most MT4 brokers operate as market makers. As market makers, they will trade against you to their advantage! They are the counter parties to your trades so that they can profit from your losses. You just have to trade on both the practice server and live server to realize that while you can make money with your practice account with some brokers, it won’t be the same with your live account.

Non-dealing desk brokers on the other hand offer every trader, big and small, equal access to the inter-bank market. The rates, bid and ask prices on a non-dealing desk platform are not those set by an individual broker but those derived from active trading between participating banks, institutional investors, FCM’s and individual traders. The process itself makes every trader, regardless of size, an independent market maker. Hence, a good way to determine if your Forex broker has a dealing desk – be it a human or a computer, is that it requires you to have separate accounts to trade standard, mini and micro lots. This distinction makes it easier for the market making broker to target the accounts that they can trade against. The ECN brokers are like an inter-bank brokers. They consolidate bank quotes and show you the best bid & offers available. They do NOT trade against you or manipulate the price. They just take commission and operates like a toll-gate keeper.

My recommendation is to choose a broker with genuine STP or straight thru processing that operates like an ECN (Electronic Communication Network) if you want to seriously make money in Forex. Indeed, Fxprimus offers its traders the option of an ECN Premiere Account. An account with Fxprimus‘ fixed, variable or ECN option also enables the trader, the flexibility to trade any lot sizes, be it standard, mini or micro. The second consideration is the safety of your funds. You just need to google to find horror stories of clients losing their hard earned money to unethical brokers. The problem is that many brokers do not segregate their clients funds and hence, their clients’ money is at the sole mercy of these brokers. Brokers which have large 3rd parties to manage client funds keeps their senior management and owners from the possibility of dipping their hands in client funds to “borrow” to cover Losses. Fxprimus, is the Industry First, to have a 3rd party administrator to manage and administer their client funds. The administrator – Turnstone Corporate (Mauritius) Limited appoints directors to sit on the board of Fxprimus to ensure good corporate governance. Fxprimus‘ annual audits is performed by world-renowned firm, Ernst & Young. The FXPrimus Trust Account option offers the traders, the ultimate in the safety of our funds. If you want to sleep well, you should insist on a broker that has an independent third party fund administrator to monitor the flow of client funds.

Open a FREE trading account at FXPRIMUS NOW!

Gold breaks USD 1700 price again

The gold price climbed $12.08, or 0.7%, to $1,723.63 per ounce Thursday morning as the yellow metal built on yesterday’s Fed-induced rally. Silver added to its gains alongside the gold price, by $0.27, or 0.8%, to $33.61 per ounce. Equity markets throughout Asia and Europe were largely higher, while U.S. markets looked to open in the black as well.

Yesterday, the Federal Reserve lit a fire under the price of gold, as the yellow metal jumped $44.72, or 2.7%, to $1,711.55 per ounce. The surge in the gold price was accompanied by U.S. dollar weakness and a broad-based rally on Wall Street. With its advance, the gold price extended its year-to-date gain to 9.5% and reached its highest level since December 9, 2011.

While the gold price also posted its best day since October 25, 2011, silver fared even better. Gold’s sister precious metal climbed $1.28, or 4.0%, to $33.34 per ounce. Other precious metals headed north as well, with platinum and palladium futures each rising 2.0% to $1,583.20 and $694.00 per ounce, respectively. Among cyclical commodities, copper futures increased by a more modest 0.9% to $3.84 per pound, while crude oil added 0.5% to $99.40 per barrel.

The gold price rally propelled gold shares substantially higher on Wednesday, as the group was the best performing sector in the equity markets. The Market Vectors Gold Miners ETF (GDX) rebounded from an intra-day low of $51.58 per share to finish higher by 6.7% at $55.23. The gain far outweighed that of the broader markets, as the S&P 500 Index rose 0.9% to 1,326.06. Among large-cap gold producers, two of the top performers were Agnico-Eagle Mines (AEM) and Yamana Gold (AUY). AEM soared by 9.0% to $37.58 per share and AUY by 9.8% to $16.92 per share.

The primary catalyst for yesterday’s gold price strength was the particularly dovish tone emanating from the Federal Open Market Committee (FOMC) meeting. There, the Federal Reserve chose to extend the timeframe for its zero-interest rate policy to late-2014 from mid-2013. Additionally, it introduced new language in the FOMC statement by saying that it intends to maintain a “highly accommodative” monetary policy stance for the foreseeable future.

Along with the statement, for the first time the Ben Bernanke-led Federal Reserve released a summary of economic projections from its individual members. In particular, the Fed provided a chart showing the time at which the central bankers feel it will be appropriate to conclude its accommodative monetary policy stance. Eleven of 17 members identified this time as 2014 or later, with four choosing 2015 and two choosing 2016.

Commenting on the Fed’s actions, Credit Suisse strategist Carl Lantz characterized the central bank as even more dovish than meets the eye. In a note to clients, Lantz wrote that “The fact that the FOMC was willing to provide late 2014 as the earliest likely date for the first rate hike suggests that the actual expectation is significantly beyond late 2014…We suggest that by announcing that the first hike is unlikely to occur until ‘at least’ late 2014, the FOMC is actually providing the bottom of a confidence band around the committee’s intended estimate for the first hike…it would appear that the ‘core’ of the committee and a strong plurality of voters are in the 2015 or 2016 camps.”

Lost in the Forex wilderness? Help is at hand with this forex experts

Whether you’re a newbie or an experienced Forex trader, there is always going to be new information and strategies that can make or break your trading experience. The difficult question is, where do you go to learn these new techniques and get the support you need to trade successfully?

There are plenty of books, online guides, websites and blogs that each have their own theories and advice on Forex. The main problem with these resources is that they are usually only a one-way conversation, meaning that if you have a question you may have to wait for a reply if you even receive one at all!

This is why it’s surprising that no other Forex brokerage has offered 1-on-1 live coaching FREE for 60 days when you open and fund a live account…until now!

FXPRIMUS have launched an industry first in FXPRIMUS Coach, which provides an unmatched level of personal coaching and more for its clients. Backed by the FXPRIMUS Training & Education team, FXPRIMUS have dedicated expert coaches standing by to answer any and all questions you have on Forex inside the FXPRIMUS Coach platform.

There is a whole range of other services offered through FXPRIMUS Coach that I will go into more detail in another post. But for now you can experience FXPRIMUS Coach for 60 days for FREE if you have a live, funded account with FXPRIMUS.

To preview everything you get inside FXPRIMUS Coach just visit here

P.S. In another industry first, FXPRIMUS also offer the most secure fund protection of any other brokerage in the industry. Here are two reasons why.