February 2017 Newsletter
World’s Largest Open Social Trading Network
Learn - Share - Follow - AutoCopy
Hi Social Traders,
We hope everyone took advantage of the market volatility with profitable social trades, thanks to US President Donald Trump's first month in office. In January, the Euro gained back its losses made in December against the US Dollar with a strong 9.5% move. The Mexican Peso also made a new all-time low against the US Dollar in January with continued Trump rhetoric about building a wall, US important tax rate hikes and the renegotiation of trade deals. The Turkish Lira continued to weaken against the EUR and USD in January as Fitch gave a negative outlook on the country which followed after previous negative ratings from Moody's and S&P in 2016. Both the MXN and TRY have offered many trading opportunities for traders due to the high volatility, but most traders on FX Junction continued to focus mainly on the GBP and EUR currencies.
Additional important events in January continued with the UK supreme court ruling that required the government to seek Parliament approval before triggering article 50. The British Pound has been in a continual sell-off since the EU referendum, but has rebounded lately due to the unexpected positive economic growth in the country. The Brazil central bank has eased it's monetary policy in January by lowering its benchmark interest rate by 75 basis points which helped strenthen the BRL by 4% in January against the USD.
January Forex Industry News
- Cyprus Regulator (CySec) published their warning list of 109 unauthorized brokers.
- Cyprus regulated brokers were required to implement their leverage restrictions and ban on deposit bonuses by January 30th.
FX Junction community continued to grow as January membership increased by 1.1% compared to December to 23,462 members. Number of FX Junction members who have linked their brokerage accounts have increased by 1.1% compared to December to 9,325 accounts despite our implementation of the broker blacklist which resulted in a drop of some of the linked accounts.
What’s new on FX Junction?
We released a several new improvements for FX Junction members in January, including our new Affiliate program. It allows members to receive bonus credits which can be used to pay for AutoCopy fees or if a member is acting as a signal provider can receive higher fee payouts for referring new members to FX Junction. Click Here to view more information about our Affiliate program. We also further increased security for our members by activating 2-way sign in authentication by incorporating Google Authenticator. Click Here to read more information about this security enhancement. Lastly, we integrated a broker black list to prevent members from linking MT4 platforms to brokers which are not regulated. FX Junction will utilize warning lists from finanical regulators and/or reports from our members to continually update the broker black list. Below is the list of current brokers which have been blacklisted.
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The engineers are currently hard at work to deliver you new features in order to enhance your experience on FX Junction. The following exciting new features are planned to be released soon and will include:
- MetaTrader 5 Account Linking: Traders using the MT5 platform will soon be able to link their MT5 accounts and utilize the AutoCopy system.
- Hosted Account: Members who link their account(s) to their FX Junction profile will be soon be offered the ability to host their platform directly on FX Junction which will eliminate the need of the self-hosted FX Junction Bridge EA and a VPS.
- Performance Statistics Improvements: More improvements to our performance statistics so members can better analyze their trading results.
- Language Translations: Soon to be released is FX Junction translated into Russian, Indonesian and Arabic.
We hope you will enjoy!
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