CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data. *Availability subject to regulation.
This is a review of Autochartist, a Forex and CFD (contracts for difference) trading support service. Autochartist is a brand which operates from Cyprus and provides technical analysis support services for the Forex, commodities and futures markets. Autochartist delivers its service using technology partners such as Metaquotes and Econoday. Metaquotes supports the Autochartist plug-in, which can be used on MT4/MT5 trading platforms as a custom indicator. Econoday is a provider of economic news and market data analytics.
Autochartist provides traders with the very latest in automated market-scanning tools which showcase trade opportunities that inexperienced traders would ordinarily not be able to spot. These trade opportunities are strictly based on support and resistance levels. Autochartist provides traders with the following:
Autochartist also provides an analysis of market risk and volatility, although this is not a frequently used tool.
The Autochartist interface is only available to view once a user has signed up either for the free trial or for a paid subscription. The snapshot shown below contains segments which have to be used together. These segments are numbered from 1 to 13. A brief explanation of each segment is also provided.
Our Favourites: The tab marked “1” is “Our Favourites” and shows the list of trading opportunities which are active, and which possess the highest probability for success based on a 6-month history of similar trading opportunities.
Trading Opportunities: This tab, marked “2”, showcases the existing opportunities which are found on the charts. Therefore, this tab will contain the chart patterns; Fibonacci-based patterns and key levels of support and resistance across several assets. The trader can filter the results shown here using customised preferences.
Pattern Display: The pattern display is marked “8”. Price graphs for various assets are displayed. These graphs show the exact demarcation of the patterns and the opportunities that they present. This is the chart displayed when the trader clicks on the Active Trading Opportunities tab.
What does this pattern display show? It shows the following information:
The information gained from the Pattern Analysis can be combined with other information within the price movement pane.
Event Impact Analysis: This tab, marked “4”, reveals the impact of previous news releases on the currency pair tool in a concise, visual presentation. The user should know where the fundamentals are pointing before making technical entries.
The price movement pane features the volatility analysis tool as well as the price range forecast.
The Volatility Analysis tool gives the trader insight as to the movement of assets in the market. The trading risk for each asset can be assessed.
By clicking the Volatility Analysis tab, a new pop up with 3 tabs is shown, one of which is the forecast of the price range.
The Price Range Forecast section gives the trader some idea as to the possible range of price movements within each time frame. This will guide in the setting of stop loss and take profit targets.
Results Filter: The display of results for each trade opportunity can be customised in the Trading Opportunities Pane by checking or unchecking the relevant checkboxes as shown below.
Active Trading Opportunities: The Active Trading Opportunities show the tradable patterns in the market. These are patterns which are still in evolution and for which entry possibilities still exist.
The tab for trade opportunities that are no longer valid (either ended or expired) is named the Expired Trading Opportunities tab, marked 13 on the interface snapshot.
Patterns displayed on Autochartist can either be Emerging Patterns, Evolving Patterns, Completed Patterns or Expired Patterns.
Autochartist presents two ways to start using the service.
Autochartist comes with certain benefits:
Forex.com scored best in our review of the top brokers for autochartist , which takes into account 120+ factors across eight categories. Here are some areas where Forex.com scored highly in:
Forex.com offers one way to tradeForex . If you wanted to trade EURUSD
The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.
Forex.com have a AAA trust score . This is largely down to them being regulated by Financial Conduct Authority, segregating client funds, being segregating client funds, being established for over 19
|Regulated by||Financial Conduct Authority|
|Uses tier 1 banks|
|Segregates client funds|
Want to see how Forex.com? We’ve compared their spreads, features, and key information below.
|USD/JPY Spread||0.90||DAX Spread||250.0|
|FTSE 100 Spread||150.0|
|Platform||MT4, Web Trader, NinjaTrader, Tablet & Mobile apps|
|Base currency options||USD, GBP, EUR|
|Funding options||Bank transfer, Cheque, DebitCard,|