EUR/USD (Swing Forecast)
Potential StrategyWait until a new pattern emerges.
What is the trend? Neutral
What is this pattern? No pattern present
Why is this significant? There is no high probability pattern so we cannot place a trade.
What other indicators or Fib Levels support this thesis? No trade
Reason for StrategyWe have drawn a bearish channel on the 2hr Chart that has provide fairly accurate support and resistance at this point.  The pair also has broken the Daily Chart channel.  Both of these charts point to a move farther down, but we will still stay on the sidelines until a new pattern emerges.Trade InvalidationNo trade
Support & Resistance Levels
Resistance 3 Bottom of channel See Daily Chart
Resistance 2 1.4746 38.2% of AB on the Daily Chart
Resistance 1 Top of channel See 2hr Chart
Current Price 1.4530  
Support 1 Bottom of channel See 2hr Chart
Support 2 N/A N/A
Support 3 N/A N/A

                                  
Daily Chart - Broken bullish channel.
2hr Chart - Bearish channel. DISCLAIMER: This forum and the information provided here should not be relied on as a substitute for extensive independent research before making your investment decisions. Global Forex Trading is merely providing this column for your general information. The views of the authors are not necessarily those of Global Forex Trading, its owners, officers, agents or other employees. In addition, any projections or views of the market provided by the authors may not prove to be accurate. Global Forex Trading and the currency research team will not be responsible for any losses incurred on investments made by readers and clients as a result of any information contained in this column. Global Forex Trading and the currency research team do not render investment, legal, accounting, tax, or other professional advice. If investment, legal, tax, or other expert assistance is required, the services of a competent professional should be sought. This website is not intended for residents of the United Kingdom, Singapore or Australia.

Institutional Forex Brokers

Posted by makemoneyus | 12:18 AM

A list of on-line institutional Forex brokers which are backed by solid and respected off-line companies — such as banks or financial institutions. Usually such Forex brokers are highly regulated and very reliable.

MB Trading — Forex Broker

MB Trading:

Company: MB Trading Futures, Inc. (MBTF) and 3DForex, LLC
On-line since: 2002
Country of origin: USA
Regulation: Commodity Futures Trading Commission (CFTC) registered Futures Commission Merchant (FCM) and a member of National Futures Association (NFA).
Payment options: Bank wire
Minimum account size: $400
Minimum lot size: 0.1 lot
Leverage: 1:100
Spreads: ECN broker - 0.5 pips average on EUR/USD
Advantages:

MetaTrader 4 software support
ECN Forex broker
Low, floating spreads
Supports trading over the phone
Disadvantages:

Commissions for trading
Opening an account is a complicated process
Residents of some countries can't open account
Click here to open an account with MB Trading

IG Markets — Forex Broker

IG Markets:

Company: IG Group
On-line since: 2001
Country of origin: United Kingdom
Regulation: Regulated by the Financial Services Authority (FSA) and a member of the London Stock Exchange (LSE).
Payment options: Wire transfer, checks, credit cards and Moneybookers
Minimum account size: $200
Minimum lot size: 0.1 lot
Leverage: up to 1:50
Spreads: 3 pips on EUR/USD
Advantages:

Solid financial company
Web based trading platform
CFD and metals trading is available
Disadvantages:

No Metatrader 4 software support
Low leverage - 1:50
Click here to open an account with IG Markets

ACM — Forex Broker

ACM:

Company: ACM Advanced currency markets SA
On-line since: 2002
Country of origin: Switzerland
Regulation: Member of NFA (ID: 0388715). Directly regulated by the Swiss Federal Department of Finance (FDF).
Payment options: Bank wire and PayPal
Minimum account size: $2,000
Minimum lot size: 0.1 lot
Leverage: 1:100
Spreads: 3 pips on EUR/USD
Advantages:

Java-based and Flash-based trading platforms
Integrated live news feed
Regulated by Swiss Federal Department of Finance
Disadvantages:

No MetaTrader4 software support
Opening account is a complicated process
Browser based platform
Click here to open an account with ACM

Deutsche Bank FOREX — Forex Broker

Deutsche Bank FOREX:

Company: Deutsche Bank AG
On-line since: 2006
Country of origin: Germany
Regulation: Authorised under German Banking Law (competent authority: BaFin - Federal Financial Supervising Authority) and with respect to UK commodity derivatives business by the Financial Services Authority; regulated by the Financial Services Authority for the conduct of UK business, a member of The London Stock Exchange and is a stock corporation incorporated in the Federal Republic of Germany HRB No. 30 000 District Court of Frankfurt am Main; Branch Registration No. in England and Wales BR000005, Registered address: Winchester House, 1 Great Winchester Street London EC2N 2DB.
Payment options: Bank wire
Minimum account size: $5,000
Minimum lot size: 1 lot
Leverage: 1:100
Spreads: 3 pips on EUR/USD
Advantages:

Unique trading software
Great user support
Operated by one of the most trusted world banks
Disadvantages:

No MetaTrader4 software support
Opening an account is a complicated process
No mini Forex accounts
Click here to open an account with Deutsche Bank FOREX

Forex.com — Forex Broker

Forex.com:

Company: GAIN Capital Group
On-line since: 1998
Country of origin: USA
Regulation: Registered Futures Commission Merchant (NFA ID #0339826).
Payment options: Bank wire
Minimum account size: $250
Minimum lot size: 0.1 lot
Leverage: from 1:100 to 1:200
Spreads: 2 pips on EUR/USD
Advantages:

Web based trading platform available
Free news stream and real-time alerts
MetaTrader 4 platform available
Disadvantages:

Some countries and states are not allowed to open accounts
Click here to open an account with Forex.com

FXCM — Forex Broker

FXCM:

Company: Forex Capital Markets
On-line since: 1999
Country of origin: USA
Regulation: Registered with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA). Also regulated by the official regulators in UK, Canada, Hong Kong, Australia and France.
Payment options: On-line checks, bank wire, paper checks and credit cards
Minimum account size: $2,000
Minimum lot size: 1 lot
Leverage: 1:100 and 1:200
Spreads: 2-3 pips on EUR/USD
Advantages:

Unique trading software
MetaTrader 4 support
Web-based platform is available
Great user support
Training courses available
Access to DailyFX.com
Disadvantages:

Limitations for MetaTrader 4 accounts
No mini-Forex accounts
Click here to open an account with FXCM

GFT Forex — Forex Broker

GFT Forex:

Company: Global Futures & Forex, Ltd.
On-line since: 2001
Country of origin: Australia
Regulation: Registered with the Commodity Futures Trading Commission, is also a member of the Australian Securities and Investments Commission (ASIC), an independent Australian government body that regulates financial markets, securities, futures and corporations since January 1991.
Payment options: Credit cards, eCheck, PayPal, bank wire and paper checks
Minimum account size: $250
Minimum lot size: 0.1 lot
Leverage: from 1:100 to 1:400
Spreads: Variable (3 pips average) on EUR/USD
Advantages:

Unique trading software
Ability to trade with really huge amounts of money
Free Forex training
More than 60 currency pairs
Leverage up to 1:400
Disadvantages:

Variable spreads can be quite high
Opening an account is a complicated process
Click here to open an account with GFT Forex

Saxo Bank — Forex Broker

Saxo Bank:

Company: Saxo Bank
On-line since: 1999
Country of origin: Denmark
Regulation: Saxo Bank is an officially registered European bank.
Payment options: Wire transfer
Minimum account size: $2,000
Minimum lot size: 1 lot
Leverage: 1:100
Spreads: 2 pips on EUR/USD
Advantages:

Unique trading software
Very solid company
Disadvantages:

Very high margin requirements
Opening an account is a complicated process
Click here to open an account with Saxo Bank

CMS Forex — Forex Broker

CMS Forex:

Company: Capital Market Services, LLC
On-line since: 1999
Country of origin: USA
Regulation: Registered Futures Commission Merchant (FCM) and a Forex Dealer Member (FDM) of the National Futures Association (NFA) (Member ID: 0313199), registered with the Commodity Futures Trading Commission (CFTC) of U.S. and the Financial Services Agency (FSA) of Japan.
Payment options: Bank wire, BPS, credit cards, PayPal, on-line check and paper checks
Minimum account size: $200
Minimum lot size: 0.1 lot
Leverage: from 1:40 to 1:400
Spreads: 3 pips on EUR/USD
Advantages:

Multi-currency accounts
Disadvantages:

No MetaTrader4 software support
Click here to open an account with CMS Forex

ECN broker — Forex Broker

ECN broker:

Company: DTSecurities.at GmbH, Austria
On-line since: 2004
Country of origin: Austria
Regulation: Member of NFA and registered with CFTC.
Payment options: Bank wire
Minimum account size: $200
Minimum lot size: 0.1 lot
Leverage: up to 1:400
Spreads: 3 pips on EUR/USD
Advantages:

Regulated broker with low minimum account ($200) and high leverage (1:400)
Additional trading services (stocks and futures)
Disadvantages:

No Metatrader 4 software support
Click here to open an account with ECN broker

Dukascopy — Forex Broker

Dukascopy:

Company: Dukascopy Swiss FX Group
On-line since: 2004
Country of origin: Switzerland
Regulation: Member of ARIF (a self regulatory financial organization).
Payment options: Bank wire
Minimum account size: $50,000
Minimum lot size: 10 lot
Leverage: 1:100
Spreads: 0-1 pip on EUR/USD
Advantages:

ECN Forex broker
Low spreads
A respected Forex company
Advanced trading platform
Disadvantages:

No mini Forex account
Opening an account is a complicated process
Very high minimum account size
Click here to open an account with Dukascopy

FXCM Micro — Forex Broker

FXCM Micro:

Company: Forex Capital Markets
On-line since: 2008
Country of origin: USA
Regulation: Registered with the Commodity Futures Trading Commission (CFTC) and is a member of the National Futures Association (NFA).
Payment options: Credit cards
Minimum account size: $25
Minimum lot size: 0.01 lot
Leverage: 1:400
Spreads: 1.5 pips on EUR/USD
Advantages:

Unique trading software
Very low spreads
Disadvantages:

No MetaTrader 4 software support
Only 1:400 leverage available
The maximum account balance is $5,000
Click here to open an account with FXCM Micro

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