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EarnForex.com Monthly Newsletter
*January 7, 2014*
Welcome to the latest issue of EarnForex.com newsletter — January
2014.
In this issue of EarnForex.com newsletter I will remind you about the
most important Forex-related events of the last month and will also
show you the list of the site's latest updates.
*
EDITORIAL: Vanilla Options to Spot Forex Trader's Service*
You probably have noticed a lot of online advertising related to
/binary options/. You might have also tried some of those advertised
brokers and found out that their trading conditions do not provide
such level of freedom as you get with spot Forex brokers. This is all
because the binary trading industry is in the crisis. This is why I
recommend turning your attention to vanilla FX options.
Vanilla options are limited to /call/ and /put/ contracts, but with
such brokers you are not limited to some predetermined options. You
are free to set up your own complex strategies with several parameters
to configure.
We have launched our own white-label Forex options platform (in
cooperation with ORE Tech Ltd.) and you are welcome to try it on demo
<https://www.optionsreasy.com/EarnForex/en-US/User/New>
. You can also read more about this platform and about vanilla options
in general:
http://www.earnforex.com/blog/currency-options-trading-platform/
<http://www.earnforex.com/blog/currency-options-trading-platform/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
*
Overview of the major currency pairs' performance in December*
*EUR/USD* — went up in December with a rather strong correction near
the end of the month. It was at the maximum at 1.3892 on December 27,
at its minimum at 1.3524 on December 3, finishing the month at 1.3778.
*GBP/USD* — was in a strong uptrend. The highest monthly rate was at
1.6578 on December 31, while the lowest — at 1.6220 on December 17.
GBP/USD finished December trading at 1.6572.
*USD/JPY* — rallied for the whole month. The pair rose to as high as
105.41 on December 30, reaching a bottom at 101.62 on December 5 and
closing the month with the 105.24 rate.
*EUR/JPY* — followed the same path as USD/JPY The monthly high was
at 145.68 on December 27, the monthly low — at 138.42 on December 4.
Trading ended at 145.01 for this currency pair.
*GBP/JPY* — traded mostly the same as other yen currency pairs,
though with a higher volatility. The maximum level for this pair was
174.50 on December 31, while the minimum — 165.86 on December 5. The
month's trading ended at 174.40 for GBP/JPY.
*
Fundamental background of the past month*
December was a fairly mixed month for the US dollar, which rose
against some major currencies, but fell versus many others. The
greenback was supported by expectations
<http://www.topforexnews.com/2013/12/02/us-dollar-gains-ground-boost-fed-speculation/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
of quantitative easing tapering from the Federal Reserve and positive
<http://www.topforexnews.com/2013/12/04/us-dollar-gets-boost-adp-report/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
macroeconomic data
<http://www.topforexnews.com/2013/12/06/nonfarm-payrolls-provide-pleasant-surprise-dollar-bulls/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
. The currency did not profit very much from the budget agreement
<http://www.topforexnews.com/2013/12/11/signs-budget-agreement-make-dollar-strong/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
of US politicians and even QE tapering
<http://www.topforexnews.com/2013/12/18/dollar-post-tapering-strongest-five-years-vs-yen/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
, while helped the dollar, did not boost
<http://www.topforexnews.com/2013/12/21/week-tapering-good-dollar-one-might-expect/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
the US currency as much as one might have expected. The dollar ended
the month with weakness
<http://www.topforexnews.com/2013/12/30/dollar-index-today-expected-gain-year/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
, but with gains over the year.
The euro was very strong in December and one of the best-performing
currencies in 2013
<http://www.topforexnews.com/2013/12/26/euro-track-top-performer-2013/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
. The currency was resilient even as the European Central Bank
maintained its extreme monetary accommodation
<http://www.topforexnews.com/2013/12/05/euro-strengthens-ecb-leaves-rates/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
. The plan of the banking union
<http://www.topforexnews.com/2013/12/19/euro-strengthens-banking-union-outline/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
was one of the reasons for the strong performance.
The Great Britain pound performed extremely well last month. There
were periods of weakness after the central bank left monetary policy
unchanged
<http://www.topforexnews.com/2013/12/05/pound-weaker-boe-meeting/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
and said later
<http://www.topforexnews.com/2013/12/14/boe-plan-raising-interest-rate-soon-gbp/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
that it is not in a hurry to raise interest rates. But for the most
part of the month the sterling was supported by good fundamentals
<http://www.topforexnews.com/2013/12/19/pound-stays-resilient-fed-helped-employment-data/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
and general optimism about economic recovery
<http://www.topforexnews.com/2013/12/26/hope-economic-recovery-attracts-traders-pound/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
.
Unlike other majors, the Japanese yen was one of the worst performers
<http://www.topforexnews.com/2013/12/02/respite-yen-amid-risk-appetite-monetary-accommodation/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
in December. The currency was attempting to rise from time to time
<http://www.topforexnews.com/2013/12/04/traders-buy-yen-amid-fed-tapering-concerns/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
, but was not able to maintain gains
<http://www.topforexnews.com/2013/12/09/slow-japans-growth-risk-appetite-hurt-appeal-yen/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
. Japan's central bank hurt the currency
<http://www.topforexnews.com/2013/12/20/yen-weakness-continues-boj/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
even more and it continued to fall to new lows
<http://www.topforexnews.com/2013/12/29/yen-falls-new-lows-week/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
.
The Canadian dollar moved without a defined trend in December. The
currency started the month poorly after the Bank of Canada meeting
<http://www.topforexnews.com/2013/12/04/bank-canada-keeps-rates-steady-loonie-falls/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
, but was rescued by the good employment report
<http://www.topforexnews.com/2013/12/06/loonie-gains-good-employment-report/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
. The interest rate outlook was weighing
<http://www.topforexnews.com/2013/12/28/interest-rate-outlook-makes-loonie-close-weaker/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
on the currency, but it got boost
<http://www.topforexnews.com/2013/12/31/loonie-gets-boost-final-day-2013/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
on the last trading day of the month and the year.
The New Zealand dollar rallied over the month, while its Australian
counterpart was soft. The difference between performance can be
explained by the interest rate outlook, as the New Zealand central
bank plans to raise rates relatively soon
<http://www.topforexnews.com/2013/12/11/nz-dollar-trims-losses-rbnz-signals-stimulus-withdrawal/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
, while the Australian central bank maintains easing bias, though
perhaps it is not going to cut borrowing costs
<http://www.topforexnews.com/2013/12/18/aussie-supported-stevens-comments/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
in the near future.
*
Interest rate changes in December*
Country
Old Rate
Change
New Rate
*Hungary*
3.20%
-0.20%
3.00%
*Sweden*
1.00%
-0.25%
0.75%
*
Top 5 Forex brokers of the last month*
The top 5 Forex brokers, as reviewed by the visitors of EarnForex.com
<http://www.earnforex.com/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
are the following:
FreshForex
<http://www.earnforex.com/forex-brokers/FreshForex?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
— 10
GAINSY
<http://www.earnforex.com/forex-brokers/GAINSY?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
— 10
Tradenext
<http://www.earnforex.com/forex-brokers/Tradenext?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
— 10
3TG Brokers
<http://www.earnforex.com/forex-brokers/3TGBrokers?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
— 10
ProCFD
<http://www.earnforex.com/forex-brokers/ProCFD?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
— 10
To qualify for the position in this list, a Forex broker should have
at least 3 qualified reviews. Do not forget to review your favorite
broker
<http://www.earnforex.com/forex-brokers/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
if you have not done so already.
*
Forex e-books*
No new Forex books have been published on EarnForex.com since
the last issue of the newsletter, but you can always browse the
previously
uploaded books
<http://www.earnforex.com/forex-e-books/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
.
*
Forex articles*
One new Forex article has been published on EarnForex.com since
the last issue of the newsletter:
Between a Rock and a Hard Place: The Dilemma of Fixed Versus Floating
Exchange Rates
<http://www.earnforex.com/articles/between-rock-hard-place-dilemma-of-fixed-versus-floating-exchange-rates?utm_source=n201401&utm_medium=web&utm_campaign=n201401>
You can always browse the previously
uploaded articles
<http://www.earnforex.com/forex-articles?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
.
*
Forex brokers*
Eight new Forex brokers have been added to EarnForex.com since the
last issue of the newsletter:
BZ Trading
<http://www.earnforex.com/forex-brokers/BZTrading?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
— a Colombian broker with $100 minimum account size with MetaTrader
4 and standard 1:100 leverage.
JustForex
<http://www.earnforex.com/forex-brokers/JustForex?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
— an offshore company from Belize; they offer nano accounts (from
$2) and NDD/ECN (from $10). Only MT4 is offered as a platform.
BelforFx
<http://www.earnforex.com/forex-brokers/BelforFx?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
— a regulated Forex broker from New Zealand. Standard accounts with
MT4 start from $100 and offer maximum leverage of 1:400.
TenkoFX
<http://www.earnforex.com/forex-brokers/TenkoFX?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
— a joint Russian/New Zealand company with MT4 and cTrader
platforms. Accounts start from $50 (standard) and $500 (ECN).
TMS Brokers
<http://www.earnforex.com/forex-brokers/TMSBrokers?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
— an old Polish broker with a combination of MT4/cTrader and their
own trading platform. Minimum account size is $1,000.
WhichWay
<http://www.earnforex.com/forex-brokers/WhichWay?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
— a regulated Australian Forex broker with MetaTrader 4 and cTrader
platforms, and $100 minimum account size. The maximum leverage is
1:400.
Invast Financial Services
<http://www.earnforex.com/forex-brokers/InvastFinancialServices?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
— another Australian Forex company with $100 minimum and
MT4/cTrader platforms. The maximum leverage is 1:100.
Greenvault Fx
<http://www.earnforex.com/forex-brokers/GreenvaultFx?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
— a New Zealand broker founded back in 2008 and offering MT4
accounts starting from $1. ECN execution is available.
You can always view our full
list of Forex brokers
<http://www.earnforex.com/forex-brokers/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
.
*
Forex VPS providers*
No new Forex VPS providers have been added to EarnForex.com
since the last issue of the newsletter, but you can always browse the
previously
added VPS companies
<http://www.earnforex.com/forex-vps-hosting?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
.
*
MetaTrader indicators*
No new MetaTrader indicators have been added to EarnForex.com
since the last issue of the newsletter, but you can always view the
previously
uploaded
Forex indicators
<http://www.earnforex.com/metatrader-indicators?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
.
*
MetaTrader expert advisors*
One new expert advisor has been added to EarnForex.com since
the last newsletter issue:
Heiken Ashi Naïve
<http://www.earnforex.com/metatrader-expert-advisors/Heiken-Ashi-Naive?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
You can always browse the previously added
MetaTrader EAs
<http://www.earnforex.com/metatrader-expert-advisors/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
.
*
Forex polls*
Two new polls have been posted in the EarnForex blog
<http://www.earnforex.com/blog/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
:
Will Fed Remove Quantitative Easing by the End of 2014?
<http://www.earnforex.com/blog/will-fed-remove-quantitative-easing-by-the-end-of-2014-poll/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
Do You Prefer Binary or Vanilla Forex Options?
<http://www.earnforex.com/blog/binary-options-vs-vanilla-options-in-forex-trading/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
You can also browse the full list of
Forex polls
<http://www.earnforex.com/blog/tag/forex-poll/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
from
EarnForex.com.
*
Forex strategies*
No new Forex strategies have been added to EarnForex.com since
the last issue of the newsletter, but you can always browse the
previously added
Forex strategies
<http://www.earnforex.com/forex-strategy/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
.
*
Forum*
Top 5 hot topics on EarnForex
Forum
<http://www.earnforex.com/forum/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
started in December:
Market news and trade recommendations by FBS
<http://www.earnforex.com/forum/f6/market-news-trade-recommendations-fbs-16270/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
Demo Account vs. Real Account
<http://www.earnforex.com/forum/f4/demo-account-vs-real-account-16226/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
How do you handle your losses?
<http://www.earnforex.com/forum/f4/how-do-you-handle-your-losses-16259/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
Common mistakes in trading
<http://www.earnforex.com/forum/f4/common-mistakes-trading-16154/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
how to choose the right forex broker ?
<http://www.earnforex.com/forum/f4/how-choose-right-forex-broker-16149/?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
*
Forex industry news*
There were the following important Forex industry news since the
last issue of the newsletter:
EXNESS
<http://www.earnforex.com/forex-brokers/EXNESS?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
launches its website in 6 new languages: Urdu, Bengali, Japanese,
Czech, Polish and Hungarian.
MIG Bank has been merged into Swissquote
<http://www.earnforex.com/forex-brokers/Swissquote?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
.
Mayzus
<http://www.earnforex.com/forex-brokers/Mayzus?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
drops support of MetaTrader 5 platform.
Universal FX went out of business.
*
Until the next newsletter issue!*
That's all for the January issue of the EarnForex.com
newsletter. If you have questions, comments or just want to see
something else
in the next monthly issue, please let us know
<http://www.earnforex.com/contact?utm_source=newsletter&utm_medium=email&utm_campaign=n201401>
.
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