FP Markets has launched a technical analysis trading tool Autochartist

FP Markets GIF

ASIC-regulated global CFD and forex broker FP Markets has added Autochartist to its wide range of trading tools.  

Autochartist is an online technical analysis tool which scans the market to provide detailed breakdowns across a wide range of Forex and CFD instruments. This tool helps to easily  understand the real time trading opportunities. 

Once the client has accessed the service, the live trading alerts will be delivered to trader’s email, mobile applications with push notifications. All the alerts will be in the trader’s language of choice throughout the day in the MT4/MT5 platform. Autochartist delivers 1000+ actionable trade ideas per month in financial markets across Forex, Metals, Indices, Commodities and Cryptos.

autochartist

Autochartist offers quite a lot of benefits, including the visual indicators in real-time, which help traders identify various trade opportunities as they develop in the market. This tool also makes risk management easier for the trader and gives the ability to scan Forex, Indices, Commodities, Stocks, CFDs and Futures, using a single tool. The maximum control over trading activity makes the Autochartist customisable and easy to use. 

You can read more about FP Markets in our full review.

A New Dedicated News-Portal Has Arrived: Axiory Intelligence

Axiory has launched a new market news provider in the Fintech industry, Axiory Intelligence. The brain-child of global fintech company Axiory, it is an independent, dedicated, market news portal for traders, investors, and all financial enthusiast.

Axiory Intelligence serves as a reliable source for up-to-date, fast, and relevant content for traders to stay informed on the latest in global markets, especially news that can affect their trading. The website provides its users with various video updates, webinars, articles, technical analyses, chart analyses, general market information, NFP watch, and educational articles. 

The industry’s newest news provider was designed to fulfill an obvious need among traders; knowledge, and information. While there are many well-established news providers in the industry, Axiory Intelligence is based upon the principle of being built by traders. Axiory has years of experience in the industry with several fintech companies including its dedicated broker, Axiory Global. The interaction with the broker’s clients highlighted the fact that when it comes to making trading decisions, traders prefer information and news updates over any other trading tools. With a team of experts and analysts on hand, Axiory developed the independent, dedicated market news and analysis provider. 

Beyond news, the website will offer a plethora of educational pieces and webinars, which will only continue to grow over time. All this offering serves as part of Axiory’s mission to keep giving back to the trading community in an attempt to enhance traders’ knowledge, experience, and ultimately their success. The news provider is designed with the trader in mind, from the interface, viewer journey, type of information provided, and market alerts. Everything is designed to allow traders to swiftly find relevant information when they need it.

As mentioned above, the team behind Axiory Intelligence comes from a trading background; from its CEO and Director Tomasz Wisniewski to every analyst, market researcher, and educator. Simply put, Axiory Intelligence is by traders, for traders. 

Director Tomasz Wisniewski
Tomasz Wisniewski, CEO and Director of Axiory Intelligence

“Axiory Intelligence is more than just a news provider; it is a space created by traders for traders, and this entire initiative orbits around this principle. Our brokerage, Axiory Global has always been an integral part of the trading industry and we’ve boasted a fantastic team of specialists. Axiory Intelligence is an extension of our experience in the market and the ideal complement to the core values of Axiory: fairness, transparency, care for all stakeholders, traders being the most important. Hence the decision to create an independent, unbiased team of financial markets’ experts, which will operate in a fully dedicated environment, providing the general public with unique quality content and education. We truly believe that it is our duty as market practitioners to help the industry grow in a sustainable way, and independent research and quality education are key to achieve such a goal” Axiory CEO and Director Roberto d’Ambrosio commented about this new development.

FC Barcelona and FBS became global trading partners

FBS logo

FC Barcelona and FBS signed a new global partnership agreement, whereby the broker specializing in Forex trading is to become the soccer club’s Official Trading Partner for the next four years, through 30 June 2024. This partnership will be a boost to Barça’s global commercial strategy, as part of the consolidation of its international expansion to ensure it continues to be a benchmark club both on and off the field. 

As a result of this agreement, FC Barcelona and FBS plan to undertake different joint programs to offer unique online and offline experiences to their followers around the world. These include the creation of branded content to take both parties closer to their audiences and to generate greater engagement with Barça fans, as well as the presence of the FBS name on the LED at the Camp Nou stadium on game days, among other assets. 

FC Barcelona Logo

This new partnership is part of FC Barcelona global expansion strategy, based on sourcing the best possible agreements in each partnership category, in order to keep the Barça project growing and to stay at the top, not only on the field, but also in the fields of marketing and sports sponsorship. 

Statement by Josep Pont, Board of Directors member responsible for the Commercial Area of FC Barcelona: “We are pleased to announce this new partnership with FBS, a leading brand in the Forex sector. It is an agreement that will help us to continue growing and advancing with such a unique project as FC Barcelona and to consolidate our expansion strategy on a global level, to continue setting standards not only for our style of play, which is so recognised around the world, but also in the fields of partnerships and sports marketing.” 

Statement by Ali Heder, Chief Marketing Officer of FBS: “Partnership with FC Barcelona is an exciting new chapter in FBS history. Our mutual goals meet at the point of ambition: just as Barcelona strives for being the #1 name in football, FBS aims to win the global leadership and become synonymous with success in online investing.”

You may read the full FBS Review by the link and get to know about their general offering in detail, as well you may check other CySEC regulated brokers for your consideration.

USDJPY Eyes 130 as JPY Selling Continues

As traders are pricing more and more rate hikes and aggressive tightening by the Federal Reserve (Fed), the USDJPY pair continues in its, so far uninterrupted, march toward the psychological 130 threshold. 

That would be the highest level for the USDJPY since May 2002.

The USDJPY pair continues to benefit from the massive divergence between respective monetary policies. Recently, St. Louis Fed President Jim Bullard stated that the Fed should not rule out raising rates by 75bps, but it is not his base case here. Instead, he believes the Fed needs to move quickly to raise its key policy rate to around 3.50% this year.

On the other hand, the Bank of Japan Governor Haruhiko Kuroda reiterated that a weak yen is still positive for Japan’s economy. Also, there was no indication that the BoJ was ready to tighten policy anytime soon to provide more support for the yen.

Therefore, despite the obvious overbought conditions, the pair has not shown any exhaustion so far, with investors likely targeting the 130 level in the following days.

Big Banks Remain Bullish

Economists at ING expect the pair to test 130.00 in the coming days. “USD/JPY may soon touch 130, but FX intervention is not assured. No intervention at the 130.00 mark could mean that the line in the sand is set at 140.00.”

Economists at Commerzbank roughly share a similar idea. They think that the bar for Forex interventions is very, very high. “I think that for the time being, the MoF and BoJ will try ‘verbal’ interventions and will sound continuously more concerned about the yen-weakness. In the hope that the market will end the yen collapse for fear of interventions. In poker, I suppose one would call that ‘bluffing.’”

“The latest IMM report highlights clearly that speculative yen selling has been ramped up in anticipation of further weakness.” Economists at MUFG Bank expect the pair to near the 130 level.

To conclude, should the Fed continue on the current path of monetary policy tightening, it could boost the USDJPY pair further. However, we will likely see a correction due to overbought conditions.

CySEC has reached a settlement with FxNet company

Regulator CySEC

The Cyprus Securities and Exchange Commission (CySEC) has announced that it has reached a settlement with Cyprus Investment Firm FXNET Ltd

The settlement reached with the company, for the possible violations of The Investment Services and Activities and Regulated Markets Law, is for the amount of €60.000. The Company has paid the amount of €60.000.

FxNet (Read FxNet review by link) is an STP forex broker, regulated by the CySEC as well as the International Financial Services Commission (IFSC).

According to the regulator’s official notice, the company was not able to comply with the several sections of the law, including the one, concerning the provision of investment services referred to its operating license. 

Also, FxNet has failed to comply with the Section 28 (1) of the Law, according to which the Cyprus Investment Firm Services (CIF) must comply with all conditions throughout its operation licensing, meaning organizational requirements.

One more reason the company has been penalized is the Section 36 (1) (a) of the Law, regarding professional ethics obligations when providing investment and ancillary services to clients.

The Cyprus Securities and Exchange Commission( known as CySEC), is the financial regulatory authority of Cyprus. It supervises and controls the operation of the Cyprus Stock Exchange, grants operation licenses to investment firms, including investment consultants, brokerage firms, and brokers, impose administrative sanctions and disciplinary penalties. You can read the detailed article about the Cyprus Securities and Exchange Commission here.

WTI Benchmark Falling: Oil at an Important Crossroad

The West Texas Intermediate (WTI) benchmark has been falling recently, and the price dipped below the psychological 100 USD threshold. Can the short-term bearish trend continue?

To bring price stability to the oil market, the IEA has promised to infuse an additional 60 million barrels of oil into the global supply from its strategic oil stocks for the next two months. The additional supply from the IEA will strengthen the release of 180 million barrels by US President Joe Biden out of their Strategic Petroleum Reserve (SPR), announced a few weeks ago.

Additionally, the ongoing COVID-19 restrictions and lockdowns in China have led to a decline in demand from China, the world’s largest importer of oil, likely helping WTI oil decline to double digits again.

In other news, The European Union (EU) is holding a high-level dialogue meeting with the Organization of the Petroleum Exporting Countries (OPEC) on Monday, as the EU is looking at ways to step up sanctions against Russia, including an oil embargo.

However, Europe is split on an immediate oil embargo, with the EU’s most significant economy. Germany, currently unwilling to go for it, saying an oil ban would plunge Germany and Europe into a deep recession. So, is the EU sanctioning themselves, or what is the plan here?

Technically speaking, oil is now testing March lows near the 94.50 USD level. We might see a quick decline toward 90 USD if the price drops below it. In case peace is restored between Ukraine and Russia, the WTI benchmark can drop further toward the 200-day moving average, near 81.50 USD (the green line).

Alternatively, if bulls defend the mentioned support, we might see a quick return to 100 USD. If oil jumps above that resistance, further gains toward 105 USD seem likely.

Are Stocks Headed For a Correction?

The last two weeks were highly positive for US equities and other global indices as the SP500 index rallied 10% and erased nearly all of this year’s losses. 

However, judging from the soaring yields and hawkish Federal Reserve (Fed) expectations, the rally might be over soon. 

Morgan Stanley Remains Bearish

Morgan Stanley has recently warned that recent gains in equities won’t last, and investors should be more defensive with their portfolios. 

Chief US Equity Strategist Michael Wilson said “the bear market rally is over,” and the bank suggests putting money into bonds instead of stocks in the near term. He indicated growth would be the main focus heading into the following months, and that’s why Morgan Stanley is “doubling down” on a defensive bias. 

Wilson thinks the US economy is on track for a significant slowdown. He pointed to a drop in demand with the end of fiscal stimulus money, high prices caused by the conflict in Ukraine, and the post-pandemic inventory buildup. He further explained that all that would create a “less-forgiving” macroeconomic environment, which will squeeze corporate profits. 

Rally Wilson added the gains for stocks in the second half of March, which produced a winning month for the markets, was predictable from a technical standpoint, and doesn’t have staying power. Morgan Stanley has been the most bearish big bank, predicting the SP500 index will be at 4,400 USD by the end of the year. However, compared with Monday’s price of 4,570 USD, that would be only a 3.5% decline. 

However, the market now trades above its 200-day moving average, currently near 4,500 USD. So as long as the index stays above it, the outlook seems bullish. 

The Fed is Hawkish 

Investors now anticipate the Fed will increase fed funds by 50 bps at its next meeting this month. Another 50 bps increase could come in June as inflation shows no signs of easing. Inflation is at levels that have preceded recessions throughout the last 50 years.

Additionally, the yield curve had inverted. That could be the single most accurate predictor of a recession. It has accurately predicted every recession since the early 70s, including the 2020 recession. And it’s now forecasting a recession soon.

The Fed has started raising rates into this mess. It all points to a sharper correction in equities as valuations are still stretched, and the market ignores all the negative factors. Therefore, investors might consider reducing their exposure to riskier sectors, such as tech or cyclicals, and start buying some defensives, such as utilities or groceries.

3 Reasons Why Copy Trading Is So Popular

It was strictly against the rules in school. But copying from someone more knowledgeable than you when you’re trading online isn’t only allowed, it’s encouraged.  

With a flurry of available copy trading apps, and more traders joining, it’s easy to see that copy trading has become more and more popular over the past few years. 

But how? For those who are unfamiliar with copy trading, here are a few reasons why copy trading is catching on. 

Practice smarter, not harder

First-time skydivers connect to a more experienced pro when they jump out of an aeroplane for the first time. New traders choose to copy trade for a very similar reason. It takes a lot of the risk out of the experience. It’s also an easy way to learn the ropes. All you have to do is follow a more experienced trader and copy their moves. By doing that you can potentially profit from their strategies, while also avoiding costly amateur blunders.

Learn quickly and more easily

To become a profitable trader you need to understand the markets, and how they move. That can take time, and not every trader can devote several hours every day to learning. By copy trading, traders who have more experience make trading decisions for you, until you’re able to develop your own strategies. The technology is smart, slick and user-friendly, making copy trading a practical way of quickly learning how to trade. 

Diversify your portfolio and grow your returns

Traders use copy trading to venture out into new markets by following and copying from traders with more experience in those markets. By broadening their trading horizons even more experienced traders can learn by copy trading. It’s a great way to diversify a trading portfolio without taking on a lot of risk. And as traders become more seasoned, they benefit through copy trading by sharing their trading successful strategies and growing their network.  

How to Start Copy Trading 

To start copy trading, you need to create an account with your chosen broker and download their copy trading app. 

Once you’re logged in to the app, you can browse through the trader’s performance data and strategies, and choose one who has a good track record of consistent profits 

Once you’ve chosen your trader, you can set the amount you’re willing to invest. It’s always a better idea to start with a small portion of your income and increase it as you become a more savvy trader.

Lastly, observe! Analyze what other traders are buying and selling. Both novice and seasoned traders can benefit by watching what other traders are doing. 

The SP500 Tries to Remain Bullish

The benchmark of all equity indices – the SP500 index – traded above 4,500 USD on Monday evening, trying to defend its short-term uptrend.

Rising Yields Still Not Causing Concerns 

Investors continue to ignore rising yields, along with the Federal Reserve’s (Fed) aggressiveness in tightening monetary policy. 

US yields continued to increase sharply on Monday, pushing the 2-year yield 6% up, hitting the 2.4% threshold and the highest level since June 2019. Traders are now pricing in a 50 bps rate hike at the Fed’s next meeting, while another 50 bps rate increase could follow afterward. Nevertheless, equities have performed well in this environment.

In other news, Russian Foreign Minister Sergey Lavrov said on Monday, “any meeting between Putin and Zelenskyy to exchange views now would be counter-productive.”

 Meanwhile, Ukraine’s President Volodymyr Zelenskyy has said that Ukraine is to insist on sovereignty and territorial integrity at the next round of talks with Russia in Turkey.

However, it looks like global markets have stopped caring about Ukraine as, for now, it remains a local conflict in a not-so economically important country. So far, the only outcome has been even more inflation, driving bond yields sharply higher. 

Daily Chart Appears Optimistic

“Whilst volume remains light to suggest this is still a rally within a broader range, we continue to see scope for a move above here to test the February highs at 4590/95, but we would expect a fresh cap here. Should strength directly extend though, we would look for a move to next resistance at the 78.6% retracement and price resistance at 4663/68.” Analysts at Credit Suisse said on Monday.

Still, as long as the index trades above its 200-day average near 4,490 USD, the medium-term does indeed look bullish.

On the other hand, failure to stay above the mentioned average could lead to a more significant correction, targeting 4,400 USD. The next major support could be at 4,275 USD, followed by the current cycle lows at 4,145 USD.

Brokerage firm AFX Markets goes into administration

FCA Regulator

The UK Financial Conduct Authority has confirmed the appointment of special administrators at the AFX Markets after ceasing its trading activities. 

The FCA has announced that, on August 27, 2019, the High Court of Justice of England and Wales appointed special administrators to AFX Markets Limited.

AFX Markets Limited (AFX Markets) is a UK registered company that has been authorised by us since May 2012. AFX Markets acted as broker for customers trading on its online trading platforms (ww.afxgroup.com and www.stofs.co.uk), principally in foreign exchange and contracts for difference products. 

AFX Capital is AFX Markets’ parent and is based in Cyprus – its license with Cyprus Securities and Exchange Commission (CySEC), the Cypriot regulator, has been suspended since 19 July 2019.  

On 31 July 2019, as a result of concerns over AFX Markets’ financial position and its arrangements for safeguarding monies held on behalf of its clients, the FCA required AFX Markets to cease conducting any regulated activities, except solely for the purpose of closing trading positions, and freezing all its assets.  

The special administration order appoints insolvency practitioners from CG Recovery Limited (CG Recovery) (which also trades as CG&Co) as special administrators of AFX Markets. Jonathan Avery-Gee and Daniel Richardson from CG Recovery have been appointed as the joint Special Administrators.

AFX Markets is still authorised by the FCA and remains subject to supervisory oversight and our rules.