Solid ECN | %40 Deposit Bonus

[Solid ECN]

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.​

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US100 tests 13,000 pts ahead of GDP data​

Reading close to market estimates could be a positive for Wall Street and may help alleviate concerns around banking sectors. Simultaneously, it should be neutral for USD as it will be more reactive to Fed. A strong GDP reading could provide fuel for USD gains as it would boost odds for more hikes from Fed. This, in turn, could be negative for Wall Street. Weak GDP report may have mixed impact on Wall Street but would most likely be negative for USD.

US100 is trading in the 13,000 pts area. Yields resumed climb (drop on TNOTE) and suggest a pullback.​

 

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[Solid ECN]

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.​

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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.​

• 1:1000 Leverage​
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[Solid ECN Securities]

Free Market Analysis Subscription​

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

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

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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​

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[Solid ECN]

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!
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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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Advantages​

• 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.​
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• MT5 has 38 technical indicators, 44 analytical objects and unlimited charts​
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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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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.
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Payment Methods​

Solid ECN Securities added more than 50 cryptocurrencies to its payment system. Our clients at Solid ECN can manage their account funding by a wide range of cryptos, from bitcoin to Zilliqa, all are available in the Solid-Dashboard > Account funding.

Solid ECN took this step to offer cost-effective payment methods for its customers. The blockchain transfer fee of the major cryptocurrencies have been increasing, therefore, retails are interested in trying the alternatives.

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> It is secured;
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Trading Products​

A professional method to secure assets reasonably is diversified trading. Trading on limited numbers of instruments was never suggested by the market leaders and hedge funders. They always spread their investments among commodities, indices, and or currencies. Diversity is one of the many keys to having success in the trading world.

At Solid ECN, clients have access to trade the world with high leverage whilst the spread is tightened at its minimum. You can create your dealing basket to enjoy the product diversity with Solid ECN. We strive to offer our customers the most popular and trending products, and we made a live and long list of trading instruments.

As of writing the list contains 250 products including:​

• Forex (Major | Crosses | Minor)​
• Precious Metals (Gold | Silver | Palladium | Platinum)​
• Energy (Brent | WTI)​
• Indices (spot)​
• Nasdaq​
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[SOLIDECN]

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Payment Methods​

Solid ECN Securities added more than 50 cryptocurrencies to its payment system. Our clients at Solid ECN can manage their account funding by a wide range of cryptos, from bitcoin to Zilliqa, all are available in the Solid-Dashboard > Account funding.

Solid ECN took this step to offer cost-effective payment methods for its customers. The blockchain transfer fee of the major cryptocurrencies have been increasing, therefore, retails are interested in trying the alternatives.

With Solid ECN, any trader can take advantage of +50 crypto payments.

> It is secured;
> It is undisclosed;
> it is decentralized.

Solid ECN brings vital advantages for forex traders in the US, EU, and beyond. High levels of market transparency mean price manipulation is not possible.​

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EURUSD​

Raphael Bostic, head of Atlanta Fed, delivered a speech today. He pointed out that there is still a lot to do on inflation and the economy will have negative impact on price growth (as he expects a slowdown). Bostic sees risk of a recession although it will rather be a short and shallow one.

Bostic stresses that rate cuts this year are not a base case scenario for him and that Fed will not cut rates until well into 2024. However, one should remember that the FOMC dot-plot assumes rate cuts next year. Simultaneously, Fed should maintain an outlook on possible continuation of rate hikes. Overall, Bostic wants to see what impact previous rate hikes will have on the economy.

EURUSD is trading slightly higher on the day after two final days of the previous week were marked with significant strengthening of USD. EURUSD is currently trading below 2 important resistance levels - 1.09 area and 50% retracement of the last major upward impulse.​

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GBPJPY Gartley - Still a Valid Structure?​

A bullish Gartley could be forming if we can hold below point C and drop down to the 169.00 area for the completion of the pattern and form our PRZ zone.

Watching the price action yesterday it felt like there was little to stop the rally, however overnight the dynamic has changed so as it stands the structure is still there.

From here we MUST stay under point C to stand a chance of forming a Bullish Gartley correctly.

Still all to play for at the moment though - watch this space!

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Gold​

Hawkish comments from a number of Fed members as well as better-than-expected macro data from the United States is providing support for the US dollar today. Fed members speaking today have been reluctant to speak about any immediate rate cuts and instead hinted that rates may rise further if no sufficient progress on inflation is made. On top of that, retail sales and industrial production data for April, which was released today in the evening, turned out to be better-than-expected with retail sales ex-autos and gas jumping 0.6% MoM higher (exp. 0.2% MoM) and industrial production increasing 0.5% MoM (exp. 0.0% MoM). As a result, USD is the best performing G10 currency today. This in turn is putting pressure on precious metals, which are also benefitting from an increase in uncertainty amid lack of agreement on US debt ceiling.

Taking a look at GOLD at D1 interval, we can see that the price of this precious metal is dropping more than 1% today and has broken below the psychological $2,000 per ounce mark. A near-term support zone to watch can be found in the $1,980 area, where the 50-session moving average (green line) and 38.2% retracement of the upward move launched at the turn of February and March 2023 can be found. A break below this hurdle would pave the way for a test of the 50% retracement in the $1,940 area. However, a key support zone to watch can be found around 1% lower in the $1,922 area, where the lower limit of the Overbalance structure can be found.​

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[Solid ECN Securities]

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Economic Calendar​

• Major index futures in Europe indicate a slightly higher opening​
• HIgher-than-expected Q1 GDP readings in Japan​
• US housing data in the spotlight​

Wednesday's stock market session in Europe is expected to extend mixed sentiments from the previous session. The dollar is slightly appreciating against major currencies, supported by positive US data, particularly in retail sales. Comments from Fed members yesterday emphasized the priority of fighting inflation.

The main index in Japan is rising on the back of positive GDP data. Japan's economy grew at its fastest pace in three quarters, with Q1 GDP growth at 1.6% on an annual basis, surpassing expectations of 0.7%. Goldman Sachs sees promising prospects for the Japanese market due to corporate reforms and easy monetary policy.

There are no significant macroeconomic events in today's calendar apart from US housing data. At 01:30 PM BST, we will receive data on housing permits and housing starts. Additionally, investors may seek hints about the ECB's future monetary policy in speeches by central bank members, scheduled for this morning.
​

Economic Calendar:​

• 10:00 AM BST - EU, Harmonized Inflation in the Eurozone:​
• Expected: 7.0% YoY, Previous: 6.9% YoY​

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01:30 PM BST - US, Housing Market Data:​

• Permits: Expected: 1,435k, Previous: 1,413k​
• Starts: Expected: 1,400k, Previous: 1,420k​

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Central Bank Speeches:​

• 08:15 AM BST - ECB, De Guindos​
• 08:30 AM BST - ECB, Panetta​
• 09:00 AM BST - ECB, Centeno​
• 10:15 AM BST - UK, Bailey​
• 04:15 PM BST - ECB, De Guindos (again)​

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[Solid ECN]

GBPUSD​

GBPUSD is testing the monthly support at (1.2442).

If the daily candle closes above the (1.2423 - 1.2441) area the price will likely grow to retest recent highs around the (1.2520 - 1.2547) areas, and the bullish trend continues. The next major support is located in the area of 37 pips between (1.2386 to 1.2343). These zones provide opportunities for long positions.

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[xSolidECNx]

AUDJPY​

Australian jobs market data for April was released during the Asian trading session today and turned out to be a big disappointment. Employment declined by 4.3k in the previous month while the median estimate among economists was for a 24.5k jobs gain. This has led to a jump in unemployment rate from 3.5 to 3.7% (exp. 3.5%). Moreover, the composition of the employment drop is worrying as it was driven by full-time jobs, which fell 27.1k, while part-time jobs increased by 22.8k.

Report was clearly AUD-negative as it showed weakening of the labor market and could be an important factor for the Reserve Bank of Australia when deciding on rates. Major financial institutions are split in their expectations - some, like for example Goldman Sachs, expect one more 25 bp rate hike from RBA in this cycle while others, like for example Commonwealth Bank of Australia, say that RBA is done with hiking already. Money markets are currently pricing in RBA staying on hold at its next meeting on June 6, 2023.

Australian jobs data released trigger a pullback on AUD market. Taking a look at AUDJPY chart at D1 interval, we can see that the pair managed to climb above 200-session moving average (purple line) and attempted to move above the resistance zone ranging below 91.50 mark. However, today's pullback puts this breakout under question. If we see a daily close below the 200-session moving average, the pair may be set for a correction. However, one should remember that the overall trend is upward with the pair trading in a bullish price channel.
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Economic Calendar for Today​

• European indices set to open higher​
• Powell to speak on the economy in the evening​
• Canadian retail sales data for March​

Futures markets point to a higher opening of the European cash session. DAX futures (DE30) painted a fresh all-time high above 16,300 pts earlier today but has pulled back a bit since. Moods on the markets are upbeat as traders are being constantly reminded that debt ceiling negotiations are progressing with House Speaker McCarthy saying yesterday that the debt ceiling deal could be put to a vote on the House floor as soon as next week.

Economic calendar for the final trading day of the week is light. Traders were offered German PPI data for April this morning and it showed a smaller year-over-year drop than expected - from 6.7 to 4.1% YoY while the market expected 4.0% YoY. Nevertheless, the release did not have a major impact on the market. CAD may see some moves in the early afternoon when Canadian retail sales data for April is released at 1:30 pm BST. However, central bankers' speeches may be the biggest source of FX volatility in the afternoon as there is a number of them scheduled, including speeches from Fed Chair Powell and ECB President Lagarde.
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Oil​

WTI (OIL.WTI) launched a new week's trade lower as failure to make progress on the US debt ceiling over the weekend brings us closer to the US default. On top of that, the Chinese decision to ban Micron chips is also risking reigniting tensions between the US and China.

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