Please select the second broker

Author: Alan Little Date: July 15, 2020

EUR/USD comes close to 2020 high today

The FX market is continuing to be dependent for direction on equities.

The USD was trading stronger yesterday in comparison to the majority of its bigger rivals at the start of Tuesday after a dismal mood in the market.

This mood originated on late Monday following an array of headlines relating to the coronavirus pandemic in the US.

However, the lost ground was able to be regained by Wall Street and actually succeeded in posting substantial gains after the release of solid earnings reports from some of the bigger banks, including JPMorgan and Citigroup.

This is no mean feat given that the revenue of banks has a direct link to the enormous stimulus measures being undertaken by the Federal Reserve, which are intended to help out credit markets during the COVID-19 crisis.

The EUR/USD pair actually came close to the 2020 high, with the somewhat disappointing ZEW report failing to prevent trading getting up to as much as 1.1406.

The day ended rather flatly for GBP/USD at 1.2550, with GDP figures undermining the pound

In May, the monthly GDP had risen by 1.8%, which was a lot less than the 5% that had been predicted.

For the three months ending in June, the NIESR GDP estimate registered at -21.2%, which was far worse than expected, following the printing of -19.1% the month before.

The chief of the Swiss National Bank (SNB), Thomas Jordan, said that the best instrument for the curbing of CHF was FX interventions and that negative rates were vital for this to be successful.  Market players have become accustomed to the SNB intervening in the market without any prior notice.

Currencies that are commodity-linked remained at familiar levels, with AUD/USD settling at around 0.6940 and USD/CAD closing the day at just over 1.3600.

Online Brokers Complaints

We want our site users to find good brokers to trade through and to be warned off bad brokers. We encourage you to use our complaints tool to let us know about your experiences.

We have categorised the common complaints to make it easier for you and we have provided some guidance on what you may want to try before submitting a complaint, if our suggestions do not provide you with a resolution then by submitting a complaint, our team will attempt to take up your case with the relevant Broker and if needed, submit a formal report to the regulators.

We use the information you give us to decide if we want to continue to promote a broker on our site.

Your complaint not only helps you, it helps others and it helps us determine if we continue to support the broker.


Have you had a bad experience with a Broker? Let Others Know! Help our community of traders know of issues you have experienced. Just submit your complaint!


Choose if you want us to help resolve it with the broker or if you just want to tell others of your bad experience


Your details are never made public so your complaint is anonymous to the world


If you tick the box asking for our help to resolve it, we will attempt to resolve this with the broker and at least make them aware of the complaint.