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Discuss SolidECN.com

General discussions of a financial company

Solid ECN: Boosting Your Trading Confidence​

Trading forex and other leveraged products often requires a substantial margin. Novice traders often make the mistake of trading in high volatility markets, such as cryptocurrencies, with insufficient balance.

Solid ECN’s Unique Offer​

Solid ECN has devised a strategy to support its customers. We enhance deposits by 15%, up to a maximum of $500 per account. All profits can be freely withdrawn. Unlike most companies that remove bonuses on stop-out and margin calls, the credit provided by Solid ECN is 100% tradable and can be lost.

By taking on 15% more risk, Solid ECN ensures that clients trade with greater confidence. Give us a try today and share your trading experiences with us.

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Asian Currencies Market Overview

SolidECN - Asian currencies experienced minimal movement on Thursday, influenced by disappointing inflation figures from China and the weakening of the Japanese yen, which raised concerns about potential government intervention. The dollar maintained its stability in Asian trading, adhering to its recent recovery as Federal Reserve officials persistently signaled a hawkish stance on interest rates, thereby exerting pressure on Asian currencies.

The dollar index and dollar index futures saw little change on Thursday, with attention focused on further signals from the Fed, especially from a speech by Chair Jerome Powell later in the day.

Economic Struggles in China

Additional indicators of economic difficulties in China significantly impacted Asian markets. Government data revealed that both consumer and producer inflation decreased in October, indicating that China has re-entered a period of disinflation for the second time this year. Despite Beijing’s repeated attempts to stimulate spending through various measures, these efforts have not had a significant impact.

The Chinese yuan remained stable, aided by several robust daily midpoint adjustments from the People’s Bank of China during the week. However, the currency’s outlook remains bleak, particularly given China’s ongoing economic weakness.

The People’s Bank of China is anticipated to implement more liquidity measures to bolster growth, but its options are limited due to already record-low Chinese interest rates. The central bank is also cautious about causing further depreciation of the yuan.

China’s weakness has negative implications for broader Asian markets, considering their reliance on China as a trade partner.

Other Asian Currencies

Other Asian currencies saw little movement on Thursday. The South Korean won increased by 0.1%, while the Australian dollar remained stable, recovering after dovish signals from the Reserve Bank of Australia led to significant losses earlier in the week.

The Indian rupee remained near record lows and is expected to continue its weak performance despite the South Asian economy’s improving growth. The Reserve Bank of India is also predicted to intervene less in supporting the currency due to declining foreign exchange reserves.

Japanese Yen Under Scrutiny

The Japanese yen remained unchanged on Thursday. Its recent depreciation has made traders wary of possible government intervention in foreign exchange markets. The yen is nearing the 151 level against the dollar, a threshold it briefly surpassed last week following dovish signals from the Bank of Japan.

Despite BOJ Governor Kazuo Ueda’s assertion that an exit from the bank’s ultra-dovish policy could occur before wage increases, markets largely disregarded his comments, maintaining a dovish outlook for the BOJ.

The growing disparity between U.S. and Japanese interest rates has also put significant pressure on the yen, which is now trading near levels last seen at the beginning of the lost decade in the early 1990s.


While these currency fluctuations may benefit certain economies, the underlying factors, such as the cooling of economic growth and potential slowdown in demand, could have a negative impact on the global economy.
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Bitcoin Technical Analysis​

FxNews - Bitcoin has successfully broken out of the bullish channel on the 4-hour chart. The BTCUSD pair is currently testing the R2 support level at $36,983, with the Relative Strength Index (RSI) nearing the overbought territory. On this chart, we observe an inverted hammer pattern, which may indicate potential bearish momentum. Nevertheless, the overall bitcoin market remains bullish, and analysts at FxNews recommend waiting for a breakout above the bearish trendline (illustrated in red) before initiating long positions.


Conversely, while the price trades below the weak bearish trendline (in red), there exists a possibility of the BTCUSD price declining to the R1 support level at $36,009, especially if the bears manage to close below R2. These levels could also provide substantial supply, enabling the bulls to initiate new bullish trades.

In summary, with the bitcoin market maintaining a bullish outlook, it appears more prudent to seek buying opportunities rather than placing sell orders.

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GBPUSD Technical Analysis

News Solid ECN - The GBPUSD currency pair is declining after encountering resistance at the upper band of the channel, as anticipated. Currently, the pair is showing downward momentum, trading below the 1.228 pivot point. Notably, the RSI indicator has risen above the 50 level, indicating that bulls are attempting to retest the pivot.


As long as the pair stays below the pivot, the outlook remains bearish, with 1.213 (S1) as the target.

Conversely, if bulls manage to close above the pivot and stabilize the price, the GBPUSD could potentially rise, retesting the R1 level again. However, please note that the trend is still bearish; even if the pair rises to test R1, going long is not recommended. The R1 level or the upper band of the bullish flag may provide a strong resistance zone, offering bears an opportunity to exert additional pressure.​

Solid ECN: A Decade of Expertise in Brokerage Services​

At Solid ECN Securities, we pride ourselves on our team of seasoned professionals, boasting over a decade of experience in trading, IT, and brokerage development. Over the years, we have amassed invaluable insights into market demands and learned how to create a secure trading environment for contracts.

Our journey began in 2017 when we decided to establish an independent hub to safeguard our accounts and trades. This marked the birth of Solid ECN Securities. Initially, we operated on a self-developed platform, which met our basic trading requirements. However, as the demands of trading evolved, we realized the need to elevate our platform to the next level.

We expanded the Solid ECN brand worldwide by forming a company and recruiting more experts. Our company’s cornerstone is to provide secure trading without discrimination. Join us on this journey as we continue to provide top-notch trading services, ensuring security and equality for all traders.

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Hong Kong Shares Reach One-Month High

News Solid ECN - On Wednesday, the Hang Seng Index soared, marking a significant rebound from its previous session's slight losses. The index jumped by 682.14 points, a notable 3.92% increase, to close at 18,079.01. This level is its highest in a month, driven by gains across all sectors.

This surge in the market was fueled by a key move from the People's Bank of China (PBoC). In an effort to stimulate the Chinese economy, the central bank injected the largest amount of cash into the banking system since 2016. This injection of funds is seen as a positive step towards economic recovery.

Additionally, there's growing optimism that the Beijing government might increase its support for the economy, especially after the mixed economic data from China for October. While retail sales and industrial output exceeded expectations, challenges remain, particularly in the real-estate sector. Despite various measures to ease property market struggles, this sector continues to be a drag on the economy.

Investors are now keenly focused on the upcoming meeting between Chinese President Xi Jinping and U.S. President Biden. The anticipation is that this high-level dialogue could lead to a reduction in tensions between the two countries.

Notable performers of the day included Wuxi Biologics, which saw a rise of 6.1%, Xiaomi Corp. with a 5.7% increase, Li Auto up by 5.0%, Tencent Holdings growing by 4.9%, and Citic Ltd. advancing by 4.2%. These gains reflect a robust and optimistic market sentiment.​

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Platform Choice: Embracing the Future with Solid ECN MetaTrader 5

Contrary to common belief, MetaTrader 5 (MT5) is not just an upgrade of MT4. While MT4 is tailored for Forex trading, MT5 is designed for trading CFDs, Stocks, and Futures. It caters to the more experienced and advanced trader. Interestingly, our survey at Solid ECN revealed that most beginners and intermediate traders are already gravitating towards MT5, even surpassing MT4 users!

Advantages of MT5 Over MT4​
  • Time Frames: MT5 boasts 21 time frames, significantly more than MT4's nine. This provides technical analysts with a clearer view of market movements.​
  • Pending Orders: MT5 enhances trading strategies with 6 types of pending orders, compared to MT4's 4.​
  • Market Depth: Unique to MT5, the market depth feature integrates directly within the chart.​
  • Built-in Economic Calendar: MT5 comes with a default economic calendar.​
  • Trading Options: While MT4 offers only hedging, MT5 supports both hedging and netting.​
  • Technical Indicators and Analytical Objects: MT5 leads with 38 technical indicators, 44 analytical objects, and unlimited charts.​
  • Order Filling Policies: MT5 provides advanced traders with more options like partial order filling policies.​
  • Strategy Tester: MT5's strategy tester is multi-threaded, a step up from MT4's single-threaded capability.​

With MetaQuote Corporation phasing out MT4 updates, it seemed prudent to align with the more future-proof MT5 platform.

We're curious – what trading platform do you use and why? Share your thoughts in the comments below!

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The Decline in US 10-Year Treasury Note Yield​

News Solid ECN - Recently, there has been a significant shift in the US financial market, specifically concerning the 10-year Treasury note. Its yield has dipped below 4.4%, a level not seen in the past two months. This change reflects the evolving expectations among investors regarding the Federal Reserve's monetary policy.

Factors Influencing Investor Expectations​

Investors are increasingly of the view that the Federal Reserve might soon pause its monetary tightening measures. This sentiment is largely driven by recent economic indicators suggesting a slowdown in the US economy. For instance, the number of initial unemployment claims has unexpectedly reached a near three-month high. Additionally, the ongoing increase in continuing claims, which have hit a two-year peak, implies that people who are out of work are finding it harder to secure new jobs.

Looking at other economic indicators, there's a clear sign that inflationary pressures are easing. Measures such as the Consumer Price Index (CPI), Producer Price Index (PPI), and import prices are all indicating a deceleration in inflation. Furthermore, the consistent drop in oil prices, marking a downward trend for the fourth week in a row, strengthens the belief that inflation could remain low for an extended period.

Implications for the Economy​

The falling yield on the 10-year Treasury note can be seen as a mixed bag for the economy. On one hand, it suggests that investors are less worried about rampant inflation, which can be good news for borrowers as it may lead to lower interest rates on loans and mortgages. On the other hand, the reasons behind this decline – such as rising unemployment claims and a general economic slowdown – are causes for concern.

The easing inflation, as evidenced by various indices, can offer some relief to consumers facing high costs of living. However, the job market data indicate potential challenges in employment, which could have a broader impact on economic growth and consumer spending.​

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European Market Outlook: A Steady Start to the Week

Solid ECN News - As the new week begins, European equity markets are set for a subdued opening. This calm start can be attributed to the absence of significant market-driving events. Investors are currently in a phase of evaluating the global economic landscape, particularly focusing on the future of interest rates. This cautious approach is a common reaction in the financial world when there are uncertainties or when awaiting new data.

Key Economic Indicators in Focus

The week ahead is significant for Europe's financial analysts and investors, as they await a series of important economic reports. These include manufacturing and services PMI (Purchasing Managers' Index) reports from various European countries. These reports are crucial as they provide insight into the economic activity in the manufacturing and service sectors. Additionally, the Ifo Business Climate survey from Germany is highly anticipated. This survey is a respected indicator of the business mood in Germany and, by extension, can offer clues about the broader economic health of the European region.

International Perspectives: China's Steady Rates

Looking towards Asia, China's central bank's decision to maintain its one and five-year loan prime rates at 3.45% and 4.2%, respectively, aligns with market expectations. This stability in China's monetary policy could have ripple effects in the global market, often influencing investor sentiment worldwide.

Market Movements in Early Trade

In early trading scenarios, the Euro Stoxx 50 futures showed a trend ranging from flat to slightly positive, indicating a stable yet cautiously optimistic market outlook. Meanwhile, the FTSE 100 futures in the UK indicated a minor decline, dropping by 0.2%. Such early movements in futures markets are indicative of investor sentiment and can set the tone for the trading day.

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