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Factors To Consider When Choosing A Broker For Trading At Forex Market

With such a diverse selection, picking a reliable broker is a daunting task, but there are some universal tips which will help to make the right decision.

Why May Your Broker Refuse To Withdraw Money?

Why can a broker be reluctant to pay money out and what shall you do retrieve your earnings?

How To Detect A Reliable Broker From A Bad Actor?

If you think of becoming a trader, start your carrier not with learning the Forex basics but with learning how to distinguish trustworthy brokerages from shady operators.

In what was thought to be a slow Friday as we wait for the plethora of data, earnings, and FOMC meeting next week, stock Indices are trading at or near all time highs today as the USTR said they are close to finalizing some sections of the trade deal. Conversations are continuing and will be ongoing. Afterwards, President Trump also stated that China will be buying more agriculture products and that they want a deal “Very badly”. The S&P500 cash index made all time highs today and the futures are right behind, with today’s high just 3 handles off the all-time highs. First target for SPX 500 (cash index) is 3067, which is the 127.2% extension from the September 19^th highs to the October 3^rd lows. First support comes across at Wednesday’s highs near 3010.

Source: Tradingview, FOREX.com
The DXY is also rebounding from last week’s wicked selloff towards horizontal resistance at 97.88 and the 38.2% retracement from the October 1^st highs to the October 18^th lows at 98.12. Support comes in on the day at 97.50.

Source: Tradingview, FOREX.com
As a result, Gold futures are near unchanged on the day at 1505. The precious metal was trying to break out of a bullish pattern (either a descending wedge or flag) and was up as much as $14.50 before pulling back to unchanged. If gold were to close below 1505, the daily candlestick would be a shooting star or inverted hammer, both of which have reversal implications.

Source: Tradingview, FOREX.com, COMEX
The expectations are now set that “something” will be done regarding Phase One of the US-China trade war. Watch for more headlines over the weekend and early next week. In addition, keep in mind the looming announcement of a Brexit extension, as well as economic data, including NFP on Friday, more earnings, and the FOMC meeting on Wednesday. We may see some volatility next week!