FXOPEN reviews news and analysis

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“Classics without Borders” is a Free Contest with Real Money Prizes

FXOpen broker invites beginners to participate in the “Classics without borders” Forex contest. Take a great opportunity to show your skills in Forex trading using classical trading tools and get real money prizes! The prize fund of the contest is 1500 USD. Both new users and existing clients who have registered with FXOpen no earlier than January 2020 can take part in the contest. The registration is already open.

Join the Contest[/SIZE][/URL]
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Visit them

Terms of the “Classics without borders” contest:

• Contest dates: 30 November through 24 December;
• Registration period: from now till December 13, 2020;
• Start deposit: 5000 USD;
• Leverage: 1:100;
• Trading instruments: EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD, AUD/USD, NZD/USD, EUR/GBP and stocks;
• Maximum number of simultaneously opened orders (including pending orders): 100;
• Single order minimum volume: 0.01;
• Single order maximum volume: 100;
• Margin call: 100%;
• Stop out: 50%;
• Account type: contest demo ECN;
• Advisors and locking: allowed;
• Prize fund: 1500 USD
• Award-winning places rewards:
• 1 place - 450 USD;
• 2 place - 375 USD;
• 3 place - 300 USD;
• 4 place - 75 USD;
• 5 place - 60 USD;
• 6 place - 60 USD;
• 7 place - 45 USD;
• 8 place - 45 USD;
• 9 place - 45 USD;
• 10 place - 45 USD.

Terms for receiving the prize:

It is required to increase the initial deposit by at least 20%, and to make at least 10 trades with total volume of 10 lots. The winners will be the best 10 Equity traders who have met the above conditions. More details about the terms of receiving the prize can be found

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LTC AND EOS – FINAL PUSH TO THE UPSIDE COMING?

LTC/USD

From last Thursday, November 26th when the price of Litecoin was sitting at the $65 level, we have seen an increase of 42.64% measured to its highest point at $92.664 made on Tuesday. Since then the price has been moving sideways, spiking to the downside at first but then making a series of lower highs. Currently, it is being traded $90 and is starting to move to the upside again.



EOS/USD

The price of EOS has also been increasing from last Thursday, coming from $2.77 area to $3.315 which was an increase of 19.26%, but has since then fallen to $3 and is currently being traded at $3.1.



If that is the case then we could see it increasing past its highest point in December made last Thursday when it found resistance at the 0.786 Fib level. The price is likely to continue increasing from here but it could very well be another corrective move before the further decline is made so we are yet to see if it manages to break the Fib level resistance and continues for a higher high. Significant horizontal resistance is sitting around $3.3 area so it might end as a truncation before its completion.

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NOVEMBER 2020 TOP 10 PAMM ACCOUNTS OVERVIEW

Summing up the results of November, we choose to monitor the most attractive PAMM providers for investment. Investors are mostly interested in good returns and low drawdowns. In today’s PAMM review on the eve of the Christmas holidays we will look at profitable PAMM accounts for a moderate portfolio.

By November 2020, there were 172 investment accounts opened in FXOpen and $2’106’389.00 worth of capital invested.

DevidGuetta

This PAMM provider has been demonstrating successful trading for almost the whole of 2020. At the beginning of the fall, the provider behaved conservatively, but in November the monthly profit was +7.31%. It is worth noting that they traded very successfully without significant drawdowns. In November, they traded mainly in cryptocurrencies: LTC/USD, BTC/USD, XRP/USD. The maximum drawdown in November did not exceed 2.51%. It is possible to join the provider with 100 USD or more.

MinRisk

This provider has been trading fairly confidently on FXOpen since July 2016. Since April 2020 they have been trading in profit with minor losses. In November, the profit was 4.56%, in December, the positive trend persists. Deposit load in November did not exceed 7%. The manager chart shows some spikes, indicating the use of averaging on the exit from the drawdown. MinRisk account style can be considered as quite aggressive, but profitable at the same time.

SuperSpeculativ

The provider has been trading at FXOpen for almost a year since December 2019. The year 2020 has turned out quite well for them. Since July, they have been selling at significant drawdowns, bringing in conservative returns every month. As a result, half-year earnings were almost 40%. In November, the income was 6.74%. It should be noted that the manager traded with minimal deposit load, which did not exceed 1.5% in November. It is possible to join the trader with only 100 USD.

Read more....

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BTC ENCOUNTERS RESISTANCE WHILE XRP FINDS SUPPORT


BTC/USD
The price of Bitcoin has been increasing from last Friday when it was sitting at $17,570 at its lowest point and came up by around 11.4% measured to its highest point today at $19,570. Now the price is being traded at $19,316 as it fell from today’s high and is now making a recovery.



On the hourly chart, you can see that this is a struggle for the price to keep up its bullish momentum above the lower horizontal level at $19,191 which represents the daily candle close from the 2017 all-time high.  Since the start of the month, we have seen the price in a decline, forming a descending channel from the 1st of December. Last Friday the price found support on the 0.618 Fib level and started increasing again, breaking out from this descending formation and coming above the significant lower horizontal level.

Now as the price is getting close to the vicinity of the high made on December 1st it has started moving sideways which indicates that resistance has been found. If this is the uptrend continuation after the descending channel was a higher degree retracement, the price is now headed towards is higher high, effectively making a new all-time high. But first, it needs to break this resistance zone in between the two horizontal resistance levels, so we are yet to see if the price manages to do so.

If the price gets rejected once more at this range we could see a lower low compared to the one made last Friday which would mean that the corrective move from the 26th of November hasn’t developed fully, but if it manages to surpass the $19,677 level it would indicate that is headed toward the $21,000 mark.

Continue reading

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Guess the currency rate and get money!



We are continuing a series of contests among our Facebook subscribers.

This week we will give away $50 to those, who will provide the closest forecast for the AUD/USD pair.

Full Details about the Contest on the FXOpen official page Facebook

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EUR/USD APPROACHING KEY RESISTANCE, USD/CHF REMAINS AT RISK


EUR/USD is trading in a positive zone above 1.2100, but it is facing hurdles near 1.2170. USD/CHF is struggling to hold the 0.8850 support and it could decline heavily.

Important Takeaways for EUR/USD and USD/CHF

• The Euro started a fresh increase above the 1.2050 and 1.2100 resistance levels against the US Dollar.
• There is a connecting bullish trend line forming with support near 1.2140 on the hourly chart of EUR/USD.
• USD/CHF remains in a bearish zone below the 0.8950 and 0.8920 resistance levels.
• There are two major bearish trend lines forming with resistance near 0.0.8870 on the hourly chart.

EUR/USD Technical Analysis

In the past few days, the Euro remained in a positive zone above the 1.2050 support zone against the US Dollar. The EUR/USD pair gained pace above the 1.2100 resistance to move into a positive zone.

The upward move was such that the pair broke the 1.2120 resistance and settled above the 50 hourly simple moving average. However, the pair seems to be facing a strong resistance near the 1.2165 and 1.2170 levels.



The recent high was formed near 1.2168 on FXOpen before there was a downside correction. There was a break below the 1.2155 level, and the pair traded below the 23.6% Fib retracement level of the upward move from the 1.2121 low to 1.2168 high.

The decline found support near the 1.2145 and the 50 hourly simple moving average. The 50% Fib retracement level of the upward move from the 1.2121 low to 1.2168 high is also acting as a support.

Continue reading

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LTC AND EOS – CONSOLIDATION EXPECTED BEFORE FURTHER UPSIDE



LTC/USD

The price of Litecoin has been increasing since the start of the week and from Monday’s low at $79.215 we have seen a rise of 29.75% measured to its highest point today at $102.781. Currently, the price is being traded slightly lower as a minor pullback was made and is sitting just below the $100 mark.



On the hourly chart, you can see that Monday’s low was a corrective move made after the interaction with the $84 horizontal level which was the end of the first impulse wave out of a five-wave move that started on the 11th. The second wave established support on the $78.44 level from which we have seen a parabolic rise with the price breaking significant resistance with a strong bullish moment.

As this increase was the 3rd wave which appears completed as it can be sub-divided in lower degree five-wave count, we are now likely to see a pullback to around $92 where the prior local resistance level might get tested for support. But after the pullback ends further upside movement would be expected and a higher high compared to today’s one. This expected increase would be the 5th wave that is set to push the price for a higher high and potentially to the $109.35 where the next significant horizontal resistance level is.

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Dear Clients!

FXOpen has some important news about the ForexCup contest. Starting from December 17, 2020 the contest is located at a new web address due to the change of the domain:

forex.game

Please note that all information about the current rankings and contest results will be fully preserved. The “Classic without Borders” contest standings can be found here: forex.game/tournaments/classic-without-borders-2020.

We apologize for any inconvenience caused by these changes. If you still have questions, please contact our customer support — we'll be happy to help.

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WELCOME TO 2021 WITH FXOPEN. THANK YOU FOR TRADING WITH US!




First of all, let us thank you for being FXOpen’s loyal clients. We do and will continue to do everything in our power to provide you with the best user experience possible, especially at such an important time for the markets. In 2020, we were able to put on a few exciting initiatives — with your help, of course. And this little digest is designed so that we can celebrate our accomplishments together. Let’s go!


More trades, more traders!




We are incredibly happy that so many traders trust us, both beginners and professionals. Each of you is very important for FXOpen, and we want you to have access to the markets and instruments that are profitable for you.


Continue reading

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MetaQuotes has released macOS installers for MT4 and MT5


A trading platform for macOS users can now be installed more easily with the help of MetaTrader 4 and MetaTrader 5 installers, recently released by MetaQuotes.

The macOS operating system accounts for 13% of MetaTrader 4 and MetaTrader 5 installations, and the numbers are growing. According to MetaQuotes, users are increasingly requesting a convenient macOS installer, so a dedicated solution for Apple devices was developed.

macOS users no longer need to use additional software to install a trading platform on their system. All that is required is to download the dmg file for installing MetaTrader 4 or MetaTrader 5 and run it:

DOWNLOADMT4

DOWNLOADMT5

Follow for more details

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[COLOR="#FF8C00"]PAMM for Followers[/COLOR][/B]

A Follower is a trader who probably lacks time, skill or desire for full time Forex trading. The Master’s trading strategy will automatically be replicated in the Follower’s trading account in respect of these selected funds. This allows Followers to receive profit without fully engaging themselves into Forex trading.

Benefits of PAMM for Followers

• Full control over funding and withdrawing
  

The Follower can add money to be used in the PAMM account or withdraw these funds at any moment of time without any permission from the Master. The Master has no access to adding or withdrawing the Follower's money whatsoever. So the scenario when a dishonest Master prevents a Follower  from withdrawing money or fails to pay the profit is completely impossible.

• Automatic Allocation of Profits/Losses and Fees
  

All calculations (allocation of profit and fees) are made automatically, strictly on time and in accordance with the Offer Conditions that were accepted by the Followers.

• Public monitoring of the Master's trading activity
  

Choosing a lucrative Master’s strategy is a tough decision, however FXOpen's public monitoring system makes this task easier. With our visual and easy-to-understand charts both novice and experienced Followers can find a suitable Master.

Learn more

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Results of the "Money Managers" Forex Contest Announced

"Money Managers", a Forex contest with real PAMM accounts, ended on December 31^st, 2020.



We have received the results of the contest and present the winners to you:

1st lace: AM_Foresight gets $5000-prize.

2nd place: MHon gets $3000-prize.

3rd place: ycchai gets $2000-prize.


The prize will be added to an investment account according to a 50/50 offer: 50% of the profit goes to the Manager, the investor (the Company) receives the remaining 50%.We congratulate the winners and wish them further success in trading!

Please note that it is forbidden to conceal in PAMM-system such account statistics for investors as equity, drawdown, exposure level, completed trades. This data should always be accessible to view.

"Money Managers" contest is a unique opportunity to show your trading skills on real PAMM accounts.

During the contest, participants have the opportunity to deposit and withdraw funds from their accounts, accept investments, create new offers, use any strategies, Expert Advisors, and robots. Also, the contest is a great chance to make your PAMM account known among potential followers.

To get more details on how FXOpen PAMM service works, please visit our website.

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[COLOR="#FF8C00"]PAMM for Masters[/COLOR]/SIZE]

Masters are experienced traders who are willing to share their strategies for other clients to follow, and in return they receive a fee or a share of profit.

Benefits of a PAMM Master's Account

• An unlimited number of Followers
  

FXOpen PAMM Technology gives you the opportunity to offer your strategy to an unlimited number of Followers, while the trading is done from a single MT4.

• Multiple Offers with different parameters

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The Master can create several Offers with different conditions to cater for Followers with different capital and risk tolerance.

• Automatic profit/loss allocation
  

FXOpen PAMM Technology automatically shares profits and losses between the Master and his Followers. This guarantees that the Master will be paid the fees and share of profit on time and strictly according to the Offer conditions which allows the Master to focus on his primary activity – successful trading.

• Master's Performance Monitoring

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A detailed performance monitoring system allows the Master to showcase his/her past trading results and attract new Followers. Potential Followers can choose a suitable Master based on visual and easy-to-understand charts, displaying the Master's trading results.

Learn more

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How to start Forex trading?

[COLOR="#FF8C00"]Whether a currency is increasing or declining in value, there is always a way for you to make money in Forex
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Consider a national currency as a security, like stocks, commodities or precious metals. The recipe for success is to buy it at the cheapest price and then sell at a higher price. Or the other way round – sell at a higher price and then buy cheaper. Whether a currency is increasing or declining in value, there is always a way for you to make money in Forex! Knowing the right time to buy or sell will do the trick. This is where market analytics, indicators, signals and automated trading systems come in handy.

Let's consider an example:
Currencies are traded in pairs. For example – Euro against US Dollar (EUR/USD) or British Pound against Japanese Yen (GBP/JPY). A Forex transaction involves buying one currency and selling the other currency at the same time.The exchange rate reflects the value of one currency against the another currency, For example, the quote USD/CHF 0,93160/0,93170 shows, how many Swiss Francs you need to pay to buy or sell 1 US Dollar. Currency exchange rates are always fluctuating depending on the time of the day, the country's central bank rate, government policy, market sentiment and many other reasons.

Let's assume the market forecast the Euro is going to appreciate against US Dollar (bullish trend for EUR/USD). You decide to buy Euros with USD (buy order on EUR/USD). After some time you decide to sell the Euro at a higher price (close the open EUR/USD position). Your profit is the difference between the opening and the closing prices.

How much money do you need to start trading Forex?
In order to attract traders, many forex brokers, including FXOpen, offer to start trading without a starting deposit. You can start trading with us without money from $10, which are credited to you as a welcome bonus to a newly opened active STP account after passing the verification.

Learn the basics of currency trading
Remember that Forex trading involves high risk. There are limitless opportunities to make profit and your potential gain is very high. However,the risk of loss is high as well. If you make an independent and informed choice to become a Forex trader, you should always follow the basic risk management rules. It's not an easy task but it's very important whether you trade with a few hundred dollars or operate millions.

Taking a good Forex education course may be the best investment you'd ever make in your trading career. Take your time to study the basics of trading and practice it in a demo account before you start trading with real money. Always be sure to follow the rule - never trade with money that you cannot afford to lose.

Sign up with FXOpen;

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Install the FXOpen Traders Tools extension for Google Chrome and use it to help shape your trading strategies

Dear trader,



FXOpen prides itself on providing you with the best Forex trading tools directly from your browser! Install the FXOpen Traders Tools extension for Google Chrome and use it to help shape your trading strategies.

[COLOR="#FF8C00"]Features[/COLOR][/B]

• Analytics – in-depth technical and fundamental analysis and forecast for currencies and commodities by experienced financial analysts;
  
• Quotes – real time prices and spreads;
  
• Calendar – important events and releases that affect the forex, stocks and commodities markets;
  
• Company news – latest FXOpen company news and promotions;
  
• Live news – FX live trading news.
  

The extension is also connected to the MyFXOpen area and Forex trading accounts page, allowing you to access the information you need with just a single click.

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