How to Choose the Best ECN Broker?

How to Choose the Best ECN Broker?

Best ECN Conditions:

• Low forex spreads (0 pips)
• Multi-bank Liquidity (15 LPs)
• No Dealing Desk (DMA)
• No re-quotes
• No Restrictions on SL & TP
• No Strategy Restrictions
• No min/max order limits

Best ECN Account Conditions

• High Leverage
• Low deposit requirements
• Fastest order execution (6ms)
• Low ECN commissions
• 24 hour withdrawals

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U.S Non-Farm Payrolls

The U.S Non-Farm Payrolls will be released Friday, 06th March, 2020 12:30 GMT and is a key economic indicator that can cause volatility in the markets.

What to Expect this Month?

Many of the market experts and economists are expecting US Non-Farm Payrolls to post -2.2M and -10M for the month of May, while the consensus is only at -8M. Unemployment rates are expected to rise again to 19.8% for the month due to the coronavirus impact.

The European Central Bank's exceeded expectations by expanding its Pandemic Emergency Purchase Program (PEPP) by €600 billion to a total of €1.35 trillion, the decisions has pushed EUR/USD to the highest levels since mid-March, and it seems the gains may continue. For the pair, the Non-Farm Payrolls will be critical to determine the pair’s next move.

The Wage growth is expected to be at decent levels as low-earners have suffered job-losses during the pandemic.  The employment-to-population rates are likely remain depressed, however, May's shedding of jobs is expected to be much smaller than in April, and considering the doom-and-gloom, indications are pointing to a relatively upbeat report. One warning is that the ADP's private-sector jobs report,  seem too good to be true.

Opportunities Around the NFP Reports:

Regardless of the results of the Non Farm Payrolls, the markets always experience moves immediately after the release which offer traders excellent short-term trading opportunities. Positive or negative reports will affect market sentiment which can create new trends and trading opportunities.

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