November Issue
What's New in FXCM?
We're in for a big month this November! We upgraded the active trader program as part of our thankful month promotion. This issue also contains details of our top market events and more. Read on for all the details.
Thank you for trading with us and we hope you enjoy reading the November edition of our newsletter!
Market Updates
The US Fed delivered another jumbo rate hike of 75 bps in November and hinted to a moderation of the pace at some point, but ruled any pause and pointed to a potentially higher terminal rate than previously expected.
US Inflation slowed in October, as headline CPI came in at 7.7% y/y and the first sub-8% reading since February, while Core CPI eased to 6.3%. Market expectations around the Fed’s rate path eased in the aftermath of the CPI report, but policy makers will have the chance to look at more inflation data until their next meeting in mid-December.
The Bank of England raised rates by a historically large 75 bps to 3% - a week after the UK got its third Prime Minister of the year. However, it pushed back against market expectations for the terminal rate and laid out a very challenging outlook for the economy. It projected a prolonged recession and inflation to peak at around 11% this quarter.
In the Spotlight
EUR/USD
The pair rebounds from the twenty-year lows, as it snapped its four month-losing streak, with a strong start to the fourth quarter. During the current month, it reclaims parity, but has recently failed to hold this level, so it will be interesting to see how it fares this time.
NAS100
The tech-heavy index is sensitive to the current high interest rates environment, having erased more than 30% of its value during the first nine months of the year. The fourth quarter started with two-year lows, but the index has staged a recovery since then.
USD/JPY
The stark policy differential between the Fed and the Bank of Japan, has fueled a massive rally in 2022, which led to 32-year highs in October. The pair however retreats from this level, with the second week of November being the worst of the year, due to soft US CPI report. It has breached significant technical levels as result, but policy differential is still unfavorable.
FXCM Thankful Month
Only in November and December, get more rewards from our upgraded ATG program. No upper limit to your rewards!
- Enjoy rebates as long as you meet notional volume of 5 million in one month
- You will receive an extra 20% reward if you meet notional volume of 200 million in one month
| Tier* | Notional Volume (in Million) | Rebate (per Million) |
|---|---|---|
| Special Tier | $5 to < $10 | $2.5 |
| Tier 1 | $10 to < $25 | $5 |
| Tier 2 | $25 to < $75 | $10 |
| Tier 3 | $75 to < $200 | $15 |
| Tier 4 | $200 to < $400 | $24 Extra 20% |
| Tier 5 | $400 and over | $30 Extra 20% |
Click here to sign up for the program or learn more about the promotion, terms and conditions, and instruments that qualify. Offer ends 31 December 2022.
Please note, if you are already participating in our Rebate Program, you do not need to re-register.
Best Practices of Successful Traders
Our market specialists have prepared a helpful guide to help our traders avoid the most common errors and increase confidence in the market.
What separates the successful traders from the unsuccessful?
- Successful Traders Cut Losses, Let Profits Run
- Successful Traders Trade the Right Time of Day
- Use proper leverage - with great power comes great responsibility. We want to emphasise this section. It's crucial to understand that an appropriate risk-reward ratio must always be in place to be successful. Leverage is a double-edged sword and can dramatically amplify your profits and losses. Refer to the section in the guide titled "Use Leverage Effectively”.
Client Service Stats
We know you expect a stellar service. Take a look at the client service response times across the FXCM Group in the month of October.
Source: FXCM Service data, review period: October 2022.
1 minute and 15 seconds
Average time to answer your call.
2 seconds
Average wait time for live chat support.
Top Traded in October
Find out top traded instruments by trading volume during October 2022 across the FXCM Group.
Top 5 across all markets
| SYMBOL | |
| 1 | EUR/USD Spot FX |
| 2 | GBP/USD Spot FX |
| 3 | US30 E-Mini Dow Futures |
| 4 | USD/JPY Spot FX |
| 5 | GBP/JPY Spot FX |
Top 5 Stocks
| SYMBOL | |
| 1 | TSLA.us Tesla Motors Inc. |
| 2 | AAPL.us Apple |
| 3 | TENC.hk Tencent Holdings |
| 4 | NFLX.us Netflix Inc. |
| 5 | AMZN.us Amazon.com |
FXCM Group Awards
BEST ZERO COMMISSION BROKER
2022
ADVFN
BROKER OF THE YEAR
2022
Ultimate Fintech Awards
BEST FX PLATFORM
2021
Personal Wealth
BEST CUSTOMER SERVICE
2021
Ultimate Fintech Awards
*The rebate structure applies to forex, shares, commodities, cryptocurrencies and baskets. To see more details of the full ATG program structure, please visit Active Trader page.
Past Performance: Past Performance is not an indicator of future results.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.