Solidecn.com

[Solid ECN]

 

[Solid ECN]

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Solid ECN - Account Types​

Solid ECN gives multiple account types on the MetaTrader 5 trading platform to help individuals and corporate customers to exchange Forex and Derivatives online.

All Retail, associates, and White-Label clients have the possibility to access various spreads and liquidity via state-of-the-art automatic trading platforms. Solid ECN grants an exceptional type of account options that clients can choose to experience a tailored trading experience that perfectly fills their needs.

United with excellent trading conditions and lightning-fast execution, Solid ECN provides all the tools and aids required for clients of any level to accomplish their trading goals.

Whether you’re a casual trader or experienced investor, Solid ECN offers an extensive range of account options. Through our true ECN accounts, we’re able to deliver spreads from 0 pips and millisecond execution against best bid / ask prices—all with world-class customer service.
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[Solid ECN]

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Refund Policy​

There is no perfection in services online, and when funding is involved, we believe that the merchant should have a transparent refund policy. Solid ECN Securities acknowledges customer rights, and for that reason, we drafted the Solid-Refund policy.

There are circumstances when it is essential to return payment. Clients may submit a refund petition if the merchant service was not as described or the service was not functional or if the client justifies the reason.

We tried to make the money return policy concise, simple, and clear to give our customers a feeling of security. That is why we guarantee our services, and if it wasn’t as described the consumer has the right to apply for a money return.​

 

[Solid ECN]

Chart of the day - US100

US indices had another downbeat session in a row yesterday but the scale of declines was smaller than in previous two days when all major Wall Street benchmarks dropped more than 1%. Tech shares have once again lagged the most with Nasdaq index dropping 0.51% and Nasdaq-100 (US100) moving 0.45% lower.

Taking a look at the US100 chart at D1 interval, we can see that while the index saw some weakness in recent days and dropped 5% off December 1st peak, bearish momentum eased after prier reached support zone ranging above 11,500 pts handle. Downward move was halted at the 50-session moving average (green line) yesterday and today's retest of the aforementioned moving average also turned out to be a failure. Lower wicks of today's and yesterday's daily candlestick suggest that there is a strong bull camp in the 11,500 pts area and it is also a good place for a rebound from a technical point of few. However, one cannot rule out that we will have to wait until next week's Fed decision for the index to see a bigger move in either direction. In case bears regain control and push the index below the 11,500 pts price zone, the next support to watch can be found at the lower limit of the Overbalance structure (11,075 pts). On the other hand, should the index rebound from current levels, the 12,100 pts resistance zone, marked with recent local highs, will be a level to watch.

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[Solid ECN]

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Solid-Micro Account​

The main unique feature of Solid-Micro accounts is that the minimum trading volume starts from 0.001, while the trading conditions are similar to those for standard accounts. As a result, these account types suit both beginners and professionals, because they may help them test new trading strategies or Expert Advisors in market conditions without any significant financial investments.

> Minimum Deposit $5
> Minimum lot 0.001 lots (100 units)
> Leverage 1:1000

Feel free to open an account and start trading Forex with as low as $5!​

 

[Solid ECN]

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Solid ECN Web-Trader MetaTrader 5​

The MetaTrader 5 Web platform allows you to start trading on the Forex, exchange and futures markets from any browser and operating system, including Windows, Mac and Linux. You can access the rich set of functions that are available in the MetaTrader 5 desktop platform directly on the web, which means you can analyze financial quotes and trade without downloading or installing any application. You can access your account and start trading in just a couple of clicks. Trading on the Web platform is safe, while any transmitted information is securely encrypted.

Open a free account at Solid ECN today.

> 1:1000 Leverage
> %30 Deposit Bonus
> Ultra-Fast Execution
> Negative Balance Protection
> Refund Policy

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[Solid ECN]

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Free Market Analysis Subscription​

Solid ECN team delivers professional market analysis with both fundamental and technical aspects on a daily basis on 6 platforms.

> Website
> Email
> Linkedin
> Twitter
> Instagram
> Facebook

Feel free to sign up for a demo account to receive the latest market update to your inbox, or follow us on social networks.

Our analysis helps our clients to trade more efficiently, cut losses, and find the entry and exit points easier.

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[Solid ECN]

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Solid ECN Solution for Inflation​

We have inflation concerns at Solid ECN Securities. Therefore we came up with an ultimate solution by providing multiple wallets to our customers. They can save their assets, investments, and profits in the most demanded currencies and cryptos.

> Euro wallet
> Bitcoin wallet
> US dollar wallet
> Pound sterling wallet
> Canadian dollar wallet

Solid ECN offers trading more than 250 products with a Bitcoin based account in a true ECN environment!

Feel free to open an account with Solid ECN, the best place to trade Forex, Commodities, Indices and cryptocurrencies.

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[Solid ECN]

Breaking: CAD Strengthens slightly after CPI data​

• Canada’s annual inflation fell slightly to 6.8% YoY in November from 6.9% in October, above market expectations of 6.6%. ​
• Today's report pointed to slowest pace of price growth since March. Consumer costs rose at a slower pace for transportation (8.5% vs 9.5% in October), largely due to a slower rise in gasoline prices (13.7% vs 17.8%) as the reopening of refineries in the western United States drove fuel prices in British Columbia and Alberta to ease. On a monthly basis, Canadian consumer prices rose by 0.1% in November, slowing from a 0.7% gain in the prior month.​

Core consumer prices in Canada remain unchanged at 5.8 % in November.

Mortgage interest costs also moved higher, nevertheless markets perceived today's report as hawkish which makes it more likely the BoC will raise rates next month. Current pricing is near 50/50.

USDCAD fell slightly after CPI release and is approaching 1.3600 support.​

 

[Solid ECN]

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Platform​

The popular trading platforms are narrowed to a few. We chose the newest and the most advanced platform that is available in the market, the MetaTrader 5!

Why MetaTrader 5?
Contrary to commune belief, MetaTrader 5 is not an upgrade of MT4. The MT4 platform was developed for trading in the Forex environment, whereas MT5 was coded for CFDs, Stocks, and futures access. To be short, MetaTrader 5 is for more experienced and advanced traders, but before we go with the MT5, at Solid ECN we ran a survey of the traders we know, and found out that most rookies and novice users are already with the MT5 platform, and for the first time the MT5 users have surpassed the MT4’s!
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Major differences ​

• MT4 has 9-time frames, whereas MT5 offers 21-time frames. More time frames assist technical analyzers to have a better conception of the market movement. ​
• MT 4 has 4 pending orders, whereas MT5 provides 6 types of pending orders.​
• MT 4 doesn’t have the market depth, but MT5 market depth is accessed within the chart. ​
• MT5 has the Economic calendar on default.​
• MT4 has 4 types of pending orders, whereas MT5 holds 6 types. ​
• MT4 allows hedging only, whereas MT5 allows both hedging and netting on request.​
• MT5 has 38 technical indicators, 44 analytical objects and unlimited charts ​
• Partial order filling policies (fill/kill or cancel return) is another advantage of the MT5 for advanced traders. ​
• The strategy tester of the MT5 platform is multi-threaded but MT4 is single-threaded.​

MetaQuote corporation has been sending announcements about stopping MT4 updates. Therefore, we believe it was in the best interest of all parties to go with the MT5 platform!​

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[Solid ECN]

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Refund Policy​

There is no perfection in services online, and when funding is involved, we believe that the merchant should have a transparent refund policy. Solid ECN Securities acknowledges customer rights, and for that reason, we drafted the Solid-Refund policy. There are circumstances when it is essential to return payment. Clients may submit a refund petition if the merchant service was not as described or the service was not functional or if the client justifies the reason.

We tried to make the money return policy concise, simple, and clear to give our customers a feeling of security. That is why we guarantee our services, and if it wasn’t as described the consumer has the right to apply for a money return.​

 

[Solid ECN]

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Solid ECN Web-Trader MetaTrader 5​

The MetaTrader 5 Web platform allows you to start trading on the Forex, exchange and futures markets from any browser and operating system, including Windows, Mac and Linux. You can access the rich set of functions that are available in the MetaTrader 5 desktop platform directly on the web, which means you can analyze financial quotes and trade without downloading or installing any application. You can access your account and start trading in just a couple of clicks. Trading on the Web platform is safe, while any transmitted information is securely encrypted.

Open a free account at Solid ECN today.

> 1:1000 Leverage
> %30 Deposit Bonus
> Ultra Fast Execution
> Negative Balance Protection
> Refund Policy
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[Solid ECN]

Free Market Analysis Subscription​

Solid ECN team delivers professional market analysis with both fundamental and technical aspects on a daily basis on 6 platforms.

> Website
> Email
> Linkedin
> Twitter
> Instagram
> Facebook

Feel free to sign up for a demo account to receive the latest market update to your inbox, or follow us on social networks.

Our analysis helps our clients to trade more efficiently, cut losses, and find the entry and exit points easier.​

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[Solid ECN]

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Chart of the Day - USDJPY​

Japanese yen is one of the best performing major currencies today. JPY gains thanks to reports in Japanese media that suggested Bank of Japan is planning to review side effects of its loose monetary policy at a meeting next week. Markets took it as another sign that BoJ is about to scale back its dovish approach. The first major sign was widening of a band around target yield that also led to a significant strengthening of JPY.

Taking a look at USDJPY chart at H4 interval, we can see that the pair has been trading in a downward move recently. The pair attempted to extend upward correction and break above the upper limit of the Overbalance structure at the end of the previous week but failed. This week's attempt to recover was halted at the 100-period exponential moving average. A break below recent lows in the 131.50 area would pave the way for a test of 129.50 area, that marks low of the whole downward impulse.

The pair will also be on watch later today when the US CPI report for December is released. Economists expect reading to show deceleration in both headline and core gauges of US consumer inflation. Headline CPI is seen dropping from 7.1 to 6.5% YoY while core CPI is seen dropping from 6.0 to 5.7% YoY. Report will be key for assessing whether the Fed will go with a 25 or 50 basis point rate hike at its next meeting.​

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[Solid ECN]

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EURUSD Holds above 1.08 After ZEW Beat​

EURUSD climbed above the 1.08 mark last week, reaching the highest level since late-April 2022. However, the pair began to struggle after US CPI data release for December (Thursday, January 12) and has erased part of the previous gains. EURUSD continued to move lower in the following days and threatened to break back below the 1.08 mark. However, German ZEW data for January came to the rescue. ZEW expectations subindex leap from -23.3 to 16.9 (exp. -15.0). This was the fourth month of increases in a row and the expectations subindex is now sitting at the highest level since February 2022 (launch of Russian invasion of Ukraine). Situation looks less rosy when it comes to the Current Situation sub index as it has moved from -61.4 to -58.6 (exp. -57.0).

Solid beat in German ZEW expectations data helps EURUSD avoid a drop back below 1.08 mark.​

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[Solid ECN]

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Chart of the Day - EURTRY​

Norges Bank decided to leave rates unchanged at a meeting today but there is one more rate decision to be announced today. Central Bank of the Republic of Turkey will announce its rate decision at 11:00 am GMT. Market expects no change from CBRT with one-week repo rate staying unchanged at 9:00 am GMT. The Bank said that it has ended the rate cut cycle after a 150 bp rate cut in November and indeed rates stayed unchanged at the December meeting later on. While Turkey is facing massive inflation, there is a view that rates may stay unchanged until mid-2023 when elections in Turkey take place. However, should the Bank make a move at one of the coming meetings, it is more likely to be another cut rather than hike.

Apart from CBRT rate decisions, traders will also get a chance to take a look at ECB minutes. ECB hiked interest rates by 50 basis points at the latest meeting, slowing the pace of hikes from previous 75 bps. Bank noted that rates will have to rise further significantly and a balance sheet reduction schedule was also announced. While there were some rather dovish comments from ECB members in recent days, minutes may not reflect it as they relate to the December 15, 2022 meeting.

Taking a look at EURTRY chart at the H1 interval, we can see that the pair has bounced off the 200-hour moving average (purple line) and climbed above the 20.28 swing area later on. The nearest resistance zone to watch can be found in the 20.42 area and is marked with recent local highs. Should CBRT surprised with a rather unlikely rate cut, the pair may quickly jump above the aforementioned 20.42 zone and look towards all-time highs from late-2021 in the 20.68 area.​

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[Solid ECN]

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US100 Surges Nearly %2.5​

Wall Street rallies ahead of big tech earnings

US indices rose sharply today, extending Friday gains as risk appetite improved bolstered by the lack of Fed members' speeches, due to the blackout period, ahead of the FOMC meeting on January 31 – February 1. Now investors brace themselves for a busy week of earnings, including top tech giants Microsoft, Tesla, IBM, and Intel.

Recent economic data have magnified concerns that the US economy is near a recession while boosting bets that the Fed will continue to raise rates however at a slower pace. Wall Street Journal Fed insider, claims that the US central bank will announce a 25 basis point rate hike next week, which boosted upbeat sentiment. Later this week we get the US GDP and inflation data releases, which may increase volatility on the markets and influence FED decision.
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US100 jumped above major resistance at 11500 pts and 50 SMA (green line) on Friday and during today's session buyers breached long-term downward trendline. Currently the index is approaching 200 SMA (red line) and if buyers manage to uphold momentum resistance at 13000 pts may be at risk. This level is marked with previous price reactions and 38.2% Fibonacci retracement of the upward wave started in March 2020.​

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[Solid ECN]

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Euro Area Q4 GDP Beats Estimates​

Q4 GDP report from euro area just came out and turned out to be a positive surprise. Growth reached 0.1% QoQ while market expected a 0.1% QoQ drop. On annual basis, GDP growth reached 1.9% YoY (exp. 1.8% YoY), slightly slower than 2.1% YoY reported in Q3 2022. Simultaneously, Q4 GDP report from Italy was released and it also turned out to be better-than-expected. Italian GDP declined 0.1% QoQ in Q4 2022, but the market expected a 0.2% QoQ drop. On an annual basis growth reached 1.7% YoY (exp. 1.6% YoY).

However, in spite of being a positive surprise, reports did not have much of an impact. EURUSD barely moved while DE30 ticked lower.​

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[Solid ECN]

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Chart of the Day EURGBP​

EURGBP is one of major currency pairs that may see some more volatile moves today. This is because the Bank of England and European Central Bank are scheduled to announce monetary policy decisions at 12:00 pm GMT and 1:15 pm GMT, respectively. Both are expected to deliver 50 basis point rate hikes.

While ECB members have been quite vocal about the fact that a 50 basis point rate hike is appropriate for today's meeting, recent cycle pause from BoC and slowdown from Fed raises questions whether ECB will alter its approach. A 50 bp rate move looks like a done deal and should the ECB commit to another 50 bp rate hike in March, EUR may benefit. A 50 bp rate hike and a hint that pace of rate increases will slow going forward would be EUR-negative and may support European stock market indices.

On the other hand, things look less rosy when it comes to the Bank of England. The UK economy is facing a recession and BoE knows it very well. Higher interest rates are magnifying the so-called "cost of living crisis" in the United Kingdom and while another rate hike could help combat inflation, Bank of England is facing an increasing public backlash over its tightening. Having said that, there is a scope for a dovish surprise with BoE going in with a 25 basis point rate hike.

Taking a look at EURGBP chart at D1 interval, we can see that the pair has managed to climb above the 0.8880 resistance zone today and has even briefly traded at the highest level since late-September 2022. If ECB provides more fuel for the upward move by hinting at another 50 bp rate hike in March, the pair may look towards the 0.8990 swing area that was tested a few times in the 2019-2020 period and marks a local high from late-September 2022. A dovish Bank of England would also support a bullish scenario on the pair.​

 

[Solid ECN]

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Morning Wrap ​

• US indices finished yesterday's trading higher. S&P 500 gained 1.47%, Russell 2000 added 2.06% and Nasdaq rallied over 3%. Dow Jones was a laggard with 0.11% drop
• US index futures dropped in the after-hours trading following earnings releases from Apple, Amazon and Alphabet​
• Apple dropped 3.2% in the after-hours trading. Company reported a 5% sales drop to $117.15 billion (exp. $121.10 billion) and almost 11% YoY drop in EPS, to $1.88 (exp. $1.94). CEO Tim Cook said that strong dollar, production problems in China as well as the overall macroeconomic environment were to blame for poor results​
• Amazon traded 5% lower in the after-hours trading. Company reported Q4 revenue at $149.2 billion (exp. $145.4 billion) and EPS at $0.03 per share. Sales growth in cloud business slowed from 27.5 to 20% YoY in Q4 2022. Company provided a rather light guidance pointing to a 4-8% sales growth in Q1 2023​
• Alphabet dropped 4.6% in the after-hours trading. Company missed sales and earnings expectations with revenue coming in at $76.05 billion (exp. $76.5 billion) and EPS reaching $1.05 (exp. $1.18). Alphabet's sales grew at a pace of just 1% YoY in Q4 2022, marking the slowest growth since Q2 2020​
• Indices from Asia Pacific traded mixed. Nikkei, S&P/ASX 200, Kospi and Nifty 50 gained while indices from China and Vietnam traded lower​
• DAX futures point to a slightly higher opening of the European cash session today​
• US and Canadian militaries are monitoring a Chinese spy balloon that is currently flying above continental United States. It was decided not to shoot it down to prevent collateral damage from falling debris​
• Chinese Caixin services PMI came in at 52.9 in January (exp. 51.6)​
• BoJ Governor Kuroda said that Bank of Japan has a 8.8 trillion JPY unrealized loss from bonds it bought as part of yield curve control mechanism​
• Cryptocurrencies are trading mixed today. Dogecoin gains 0.2%, BitcoinCash adds 0.8%, Bitcoin drops 0.1% and Ethereum trades 0.8% down​
• Energy commodities trade lower - oil drops 0.2% while US natural gas prices traded 0.9% lower​
• Precious metals trade higher - gold gains 0.2%, silver trades 0.3% higher and platinum adds 0.5%​
• NZD and JPY are the best performing major currencies while EUR and CAD lag the most​

Nasdaq-100 (US100) had another solid session yesterday. However, things turned sour after the close of the Wall Street cash session as Apple, Amazon and Alphabet disappointed with earnings reports. US100 took a hit and pulled back around 2.5% off yesterday's highs.​

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