May Issue
What's New in FXCM?
It’s May and the market is moving! Inflationary pressures in the US may give the Fed some room to pause with rate hikes in June. Tech earnings were strong overall with NAS100 aiming for August highs.
As part of our mission to keep adding to the wide variety of products already on our platform, we’ve just added hundreds of new stocks and Exchange Traded Funds (ETFs). We’ve also upgraded our Trading Station platform.
Have a great week trading!
Top Market Events
FXCM’s USDOLLAR basket has been consolidating since mid-April and appears to be putting in a bottom. The question is, will support hold at around $12,750 or will the recent figures for inflation – coming in below expectations at 4.9% y/y this week – cause it to break lower?
The CME FedWatch Tool sees an over 80% chance of the Fed holding rates steady at its next meeting in June. Other central banks, such as the ECB and BoE are perceived as more hawkish, which partly explains why currency pairs such as the EURUSD and GBPUSD remain bullish.
Bulls trading the US indices have taken advantage of a weaker VOLX (this week dropping below 20 and still showing weakness) with the NAS100 leading the way, SPX500 some way behind, US30 and US2000 being the laggards. GER30 also remains strong, trading well above the 200 exponential moving average.
In the Spotlight
GBP/USD
GBPUSD has broken above a congestion pattern and is benefitting from the BoE’s relative hawkishness over the Fed.
EUR/USD
EURUSD is trending up with a series of higher lows and higher highs. 1.1000 is proving resilient, but if the dollar weakens further, it is likely to head higher.
NAS100
A host of tech earnings have included share repurchases, often a sign that investors envisage more upside to these stocks. Momentum has also increased in the NAS100 since March.
Choose from 600 New Stocks and ETFs
If you have a Trading Station account, you now have access to CFDs on more than 600 new stocks from exchanges all around the world, including Denmark, Norway and Sweden. And, for the first time, we’ve launched a batch of ETFs. Here are just a few to look at:
- ProShares UltraPro Short QQQ (SQQQ): Potentially a hedge against declines in Nasdaq 100
- SPDR S&P 500 (SPY): The largest and oldest ETF in the world tracks the S&P 500 Index
- Invesco QQQ ETF (QQQ): Access a diverse group of cutting-edge Nasdaq-100 companies — all in one fund
Please note, new stocks and ETFs are available for Trading Station users only. If you’re currently on MT4, you can open a Trading Station account via MyFXCM.
Platform Updates
Here are some of the most recent enhancements to our platforms:
Trading Station Mobile: We’ve fixed a few bugs and introduced a new landscape mode, as some of our traders prefer this way of trading. We’ve also added Romanian and Bulgarian language support.
Trading Station Desktop: Our latest update addresses a range of bugs and contains several fixes to reduce crashes. We've also made messaging more intuitive and improved platform stability for Windows 10 and Windows 11 users.
Mobile Progressive Web App (PWA): If you’re in a location where our Trading Station mobile app isn’t available, you can use Mobile PWA. Some of the most recent updates include full Entry Order support, ability to select a preferred timezone, and a bigger chart size for easier technical analysis. Stay tuned for more updates!
Our Awards
It’s been great to win a few more awards. It’s good for us and good for you as you have proof we are doing everything we can to improve your overall trading experience.
- Most Trusted Trading Platform Middle East 2023 from International Business Awards
- Social Champion Award 2022 from TradingView Broker Awards
Remember, if you’re a fan of TradingView, you can trade your FXCM account directly from TradingView charts. With live quotes, stock charts and expert trading ideas, you can use TradingView as your platform of choice.
Stellar Service
Take a look at the client service response times across the FXCM Group in the month of April.
Source: FXCM Service data, review period: April 2023.
62 seconds
Average time to answer your call.
2.77 seconds
Average wait time for live chat support.
Top Traded in April
See the top instruments by trading volume during April 2023 across the FXCM Group.
Top 5 across all markets
| SYMBOL |
|---|
| USD/JPY Spot FX |
| XAU/USD Spot Gold |
| EUR/USD Spot FX |
| GBP/USD Spot FX |
| NAS100 E-Mini Nasdaq 100 Future |
Top 5 Stocks
| SYMBOL |
|---|
| TSLA.us Tesla Motors Inc. |
| NVDA.us NVIDIA |
| MSFT.us Microsoft |
| AAPL.us Apple |
| RMS.fr Hermes Intl |
Trade with a Trusted Broker
2023 Annual Awards - Best In Class
FOREXBROKERS.COM
SOCIAL CHAMPION AWARD 2022
TRADINGVIEW BROKER AWARDS