Open A Forex Account Promotion

A few days ago, I saw one of LEGENDAFX’s competitors offering a “free forex course”.The course turned out not to be free, or should I say only free if you opened an account with a certain minimum deposit.

There is nothing wrong with this- its a great idea, accept I think the firm should have been more honest about the offer. They were not offering a free course, they were providing an account opening promotion. (And copying a type of offer LEGENDAFX has been providing for some time.)

If you take the FX Power Course and open a funded forex trading account with LEGENDAFX while you take the course, the cost of the course will be refunded into your account.

Legendafx Radio – Will dollar get a real boost?

Despite broad dollar weakness, dollar gets a boost from oil prices but still holds in a range. Thursdays new home sales could show more issues with subprime housing market. Durable goods is anticapated to improve.

Adding More Currencies For Forex Trading

LEGENDAFX has recently added, or is in the process of adding 4 more currency pairs for trading on certain account types. We will shortly be making a press release detailing which ones.

However, the process of deciding which currency pairs to add is a tough one. The question that we face when adding more currency pairs is “Can we deliver the same quality of execution and streaming pricing on the new pairs that our clients expect?”

LEGENDAFX gets their prices from banks. While there are hundreds of banks which make a market in the EUR/USD, that is not the case with currencies such as the Thai Baht. If there are only a few banks willing to make a market that means wide spreads in the currency pair, limited liquidity, and usually dealable prices are not available on a streaming basis. As a result, we don’t want to offer these currency pairs to our clients because we cannot offer the same high quality of forex execution that we offer on our existing pairs.

We could offer 100 currency pairs for forex trading but, we choose to offer four new ones and focus on quality execution.

Pound / Yen – Overnight Buying

For those of you who got short GBP/JPY yesterday, make sure you have those stops in place. The overnight flurry of buying took back most of the lost ground from yesterday’s selling. We’re now at a crossroad…either sellers step in to defend the 231.10 area (minor resistance where price started to breakdown yesterday) or they back away giving free reign to the bulls.

The short game is over if price action breaks above the 235.50 area definitively. This could be a bumpy ride for shorts.