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EarnForex.com Monthly Newsletter
| | | | Welcome to the latest issue of EarnForex.com newsletter — March 2015. 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: Understanding Drawbacks of MetaQuotes' Virtual Servers for MetaTrader | | MetaQuotes company has recently finalized the launch of its Virtual Hosting service. Its main purpose is to allow traders to rent a virtual server to host expert advisors independently from their home or office PC. While it can be a simpler and, sometimes, cheaper alternative to the traditional Forex VPS, it is necessary to remember about its drawbacks: No DLLs. The main disadvantage is the lack of possibility to use expert advisors based on DLLs or indicators based on such libraries. With regular VPS (based on Windows OS), there is no such problem. This drawback is critical and there is no way around it if you rely on DLLs in your MetaTrader programs. No scripts. You cannot transfer MetaTrader scripts to a Virtual Server. It seems justified considering the fact that such server is intended for automatic execution, but in reality, it completely cuts off the possibility to run a multitude of useful scripts without access to your main PC. No manual trading. You would need to run a regular MetaTrader on a regular local PC to interfere with the running EA. | | Overview of the major currency pairs' performance in February | | EUR/USD — failed to continue its long-term downtrend in February but still, ended the month lower. It was at the maximum at 1.1533 on February 3, at its minimum at 1.1176 on February 27, finishing the month at 1.1193. GBP/USD — rallied in February. The highest monthly rate was at 1.5551 on February 26, while the lowest — at 1.4988 on February 3. GBP/USD finished February trading at 1.5434. USD/JPY — surged during first decade, stalled during the remaining days. The pair rose to as high as 120.47 on February 11, reaching a bottom at 116.87 on February 3 and closing the month with the 119.60 rate. EUR/JPY — rose at first, dropped after February 11. The monthly high was at 136.68 on February 11, the monthly low — at 132.26 on February 2. Trading ended at 133.90 for this currency pair. GBP/JPY — traded similarly to GBP/USD, rising rapidly during the whole month. The maximum level for this pair was 185.01 on February 26, while the minimum — 175.47 on February 3. The month's trading ended at 184.56 for GBP/JPY. | | Fundamental background of the past month | | The US dollar gained against the euro and the pound but retreated versus most other major currencies in February. The greenback weakened after Fed Chairwoman Janet Yellen signaled that an interest rate hike might happen later rather than sooner. The euro was extremely weak during the past month even though Greece and its eurozone lenders reached a bailout agreement. The Great Britain pound, on the other hand, was very strong due to the continuous influx of positive macroeconomic reports. The Japanese yen was among the biggest losers on the Forex markets, being even weaker than the euro. The currency was unable to find support from the risk-aversion sentiment as equities rallied, driving investors away from safe assets and to the stock market. Additionally, some Japanese economic indicators missed expectations, making the yen even more vulnerable. The Swiss franc continued to move lower following the surprise decision of the Swiss National Bank to lift the cap on the currency in January. Commodity currencies were rather strong in February due to the bounce of crude oil prices. While gold started the year on a positive note, it was falling for the most part of February. It looked like the precious metal might have profited from the weakness of the dollar yet it resumed its drop, though the commodity paused the decline by the end of the month. The weakness of the metal can be attributed both to the strength of the stock market and to concerns about slowing economic growth in China. | | Interest rate changes in February | | Australia | 2.50% | -0.25% | 2.25% | | China | 5.60% | -0.25% | 5.35% | | Indonesia | 7.75% | -0.25% | 7.50% | | Romania | 2.50% | -0.25% | 2.25% | | Sweden | 0.00% | -0.10% | -0.10% | | Turkey | 11.25% | -0.50% | 10.75% | | | Top 5 Forex brokers of the last month | | One new Forex article has been published on EarnForex.com since the last issue of the newsletter: You can always browse the previously uploaded articles. | | Five new Forex brokers have been added to EarnForex.com since the last issue of the newsletter: - ExoFX — an FCA-regulated Forex broker with MetaTrader 4 platform, $500 minimum account size, and heavy focus on Forex trading. Leverage can be as high as 1:400; direct market access (DMA) accounts are also available.
- FX Choice — an offshore broker with regulation done by IFSC of Belize. It offers MT4 and MT5 accounts with STP and ECN models of execution. The minimum is the same for all account types — $100.
- ACFX — a European Forex broker with CySEC and FCA regulation, and MT4 trading platform. Minimum account size is only $5, while the leverage can be as high as 1:500. It offers a lot of different trading instruments in addition to currency pairs.
- Tradingbanks — a brand new BVI broker with MT4 platform, $20 minimum and 1:400 leverage. Many non-Forex trading instruments are also available.
- Key To Markets — a New Zealand broker operating since 2013. It offers accounts starting with $100 and provides only commission based trading services. Many trading instruments are available. The choice of platforms is limited to MetaTrader 4 and MetaTrader 5.
You can always view our full list of Forex brokers. | | There were the following important Forex industry news since the last issue of the newsletter: - Russian self-regulatory organization CRFIN decided to blacklist two brokers — Forex-Trend and Pantheon Finance — due to alleged problems with withdrawals of clients' funds.
- KPMG opens a claims portal for Alpari UK customers to recover their funds.
- We have significantly updated our position size calculator for MetaTrader. It is now available in two versions: as a separate window indicator and as the main chart window indicator. It is also able to show total portfolio risk based on currently open positions and orders, and also useful margin information for the planned trade.
| | Until the next newsletter issue! | | That is all for the March 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. | | |
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