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https://jump.wikifx.com/83348CF26389B46D [Previous on-the-spot investigation] Last time, we visited UOB Branch in Malaysia. It turned out that the location of its Malaysian licensed office corresponds to the regulatory information. The company is in business under the regulation of LFSA. As an “eye” of global investors, we conduct spot checks on forex brokers and present all the info on the WikiFX app to better serve forex investors, helping them find the reliable forex brokers while keeping them away from illegal ones. Today, we're visiting DBS in Malaysia. [Forex Broker Profile] Corporate name: DBS Registered country: China Address: level 10(A), Main Office Tower, Financial Park Complex, Jalan Merdeka, 87000 Labuan F.T., Malaysia. [Forex Broker Highlights] - “World’s Best Digital Bank in 2018” award--by Euromoney - “Safest Bank in Asia” award for ten consecutive years--by Global Finance - The bank's "AA-" and "Aa1" credit ratings are among the highest in the Asia Pacific. [On-the-spot investigation] According to the regulatory address, WikiFX team came to the Financial Park Complex. According to the local people, it is the largest business complex in the Federal Territory of Labuan, covering approximately 12 acres. After entering the building, we filled out the visitor registration form, followed the directory and successfully found DBS’ Malaysian branch on the 10th floor. Through the glass door, we could see a neat and posh office with around 10 cubicles. [Summary] From this visit, we confirm that the address of DBS is consistent with its regulatory address and the company is in business normally. [Conclusion] WikiFX App indicates that DBS is rated at 8.60 and holds two MM licenses issued by LFSA and FCA, currently in valid regulation. Investors can choose this forex broker safely. Up till now, we have visited hundreds of brokers, many of which are presented in multiple angles with the help of VR technology. Apart from that, we have archived over 14,000 brokers on the WikiFX App, offering tremendous forex information for investors.

https://jump.wikifx.com/83348CF26389B46D Investors may worry that Japan’s fiscal stimulus will stir up the securities market, but the Japanese government apparently knows what its doing in financing. The Japanese Ministry of Finance has been conducting such massive refinancing scheme in recent years that it is 52 trillion yen (US$480 billion) above the required level in this fiscal year, which can greatly ease apprehension arose from the 26-trillion-yen stimulus plan announced by Shinzo Abe last week. Although Japan will not stop refinancing matured bonds, leveraging the part of fund collected through bonds will allow the Japanese government to better plan the bond- issuing during stimulus scheme to avoid bad timing on the market. However, the Japanese government has not made clear how it will finance the extra budget. "From the perspective of debt management and effective use of treasury funds, it is reasonable to prevent the increase in market issuance through refinancing bonds," said Naomi Muguruma, senior market economist at Mitsubishi UF Morgan Stanley Securities. USD/JPY daily pivot points: 108.56 S1: 108.43 R1: 108.69 S2: 108.31 R2: 108.81

https://jump.wikifx.com/83348CF26389B46D Although the US bond yields went up markedly due to the Fed’s holding of interest rate in November, overseas capital remains enthusiastic about stepping up holding of RMB bonds. In November 2019, overseas institutional investors’ net bond purchase in the interbank bond market amounted 98.8 billion yuan. This means that overseas institutions cumulatively bought more than 970 billion yuan of bonds in the first 11 months of this year, and the figure will most certainly break the trillion mark before 2019 ends. Overseas institutions continued to significantly increase Renminbi bond-holding in November partly because they believe that the recovery in US bond yields is only temporary. As the Fed is expected to resume rate slash in the first half of 2020, the Renminbi’s spread advantage will become even more obvious, so right now is a great time for bottom-fishing. On the other hand, many overseas institutions find that the proportion of RMB bonds they’re holding is far below the ideal level, so they take full advantage of policy bonus, such as cancellation of investment quota limits for QFII/RQFII and rules allowing non-transacting transfer of bonds under the same overseas entity QFII/RQFII and direct entry channels, to increase their holding of Renminbi bonds. The surge in overseas institutions’ purchase of RMB bonds suggests their trading strategies have become more diversified. In the past, overseas institutions mainly profit from buying at a low price and selling when the price goes up. Now they are holding bonds through Bond Connect while buying financial derivatives overseas to carry out hedging or arbitrage. Overseas institutions are willing to step up holding of RMB bonds in November possibly because the want to be more prepared for Federal Reserve’s interest rate cut in the first half of 2020.

https://jump.wikifx.com/83348CF26389B46D In speaking of investment, broker scams in forex trading seem to be a recurring theme. As with many industries, the fast growing forex industry also has plenty of predators, who look to take advantage of newcomers. The following story is shared by a Korean investor who sought WikiFX’s help after being defrauded by Robinhood. He reported the illegal broker to warn other investors against it. Victim: anonymous Account balance: 3 million KRW Illegal broker: Robinhood IB information: NAVER blog name: 이동민 전문 개인투자자 (Investment Expert Lee Dong-min) KakaoTalk ID: dm8068 Tel: 010-2353-8068 I got acquainted to a blogger named Lee Dong-min by chance on NAVER, the largest web portal in South Korea, and I was drawn to the content of his financial planning posts. Through chatting online, I learned that he was a professional investment adviser and led a wealthy life. Lee Dong-min chatted with me every day around 12pm, teaching me how to invest and promised that he could help me get rich. Eventually, I was coaxed into investing on a forex platform called Robinhood, which was recommended by Lee Dong-min. He suggested me to invest 3 million KRW at the beginning for 15 days to 24 days. As I knew little about forex investment, I followed his instructions step by step and deposited 3 million KRW to my account successfully, with the hope of making great profits. But within a month after I made the investment, my account became unavailable, while Lee Dong-min's blog also disappeared coincidentally. I tried to contact him by phone, but his phone was turned off all the time. Only then did I realized it was totally a scam! Investors should watch out for this illegal broker and beware of its tricks. According to WikiFX App, Robinhood is unregulated at the moment and is rated at only 1.31. If you feel you are being scammed, contact us at wikifx@wikifx.com for assistance to recover your money. You can also download “WikiFX App”, a broker inquiry app, at Google play or apple store to conveniently check regulatory status of brokers worldwide and better protect your asset safety.

https://jump.wikifx.com/83348CF26389B46D A positive outlook that the conservative party will likely win the majority in next week’s election has propped up the pound sterling in a longest surge since this June. Yet according to indicators reflecting investors’ preference and positions, option traders’ expectation for a bearish pound reached its highest in the past 8 months. Professional traders are weighing between 2 factors: confidence about PM Boris Johnson’ victory and doubt about the opinion poll’s outcome. History shows that public opinion polls have failed to forecast the result of Brexit vote and the conservatives’ lost of majority of seats in the 2017 election. Compared with the Labour party that promises about nationalization scheme and economic reform, investors that long the GDP prefer the Conservatives to win and push forward the Brexit negotiation, as well as carry out market-friendly policies. As the election voting day draws near, investors are using the relatively cheaper USD call option to hedge off the risks. The skyrocketed pound hedging cost reflects people’s concern about the election outcome has persisted. For traders, the hedging cost in the upcoming 2 weeks is 25% higher than that 2 weeks before the election in June, 2017. The pound is surging so fast that MTM index suggests the currency is overbought. GBP/USD daily pivot points: 1.3133---1.3149 S1: 1.3118 R1: 1.3180 S2: 1.3079 R2: 1.3203

https://jump.wikifx.com/83348CF26389B46D Thanks to incredibly low interest rates, corporate debts in the US has surged to an unprecedented scale in the past decade. This facade of huge “financial boom” faces equal risk of crumpling down. Large companies across the US are striving to tackle high debts, while the default rate is estimated to reach a record level since 2008. A severe corporate debt crisis looms on the horizon. The debts of listed companies have totaled nearly US$10 trillion, which is equivellance to 47% of the country’s GDP. The extremely low interest rate in the past 10 years enabled companies to sell a record amount of bonds to investors, and corporate debts reached a historical high of nearly US$10 trillion, which is 47% of the country’s overall economy. In recent weeks, US Federal Reserve and IMF both issued warning about growing corporate debts. 10 trillion is in fact a conservative estimation, as the actual figure of corporate debt tend to be much higher, if taking into account of the additional US$5.5 trillion debts from those small-and-medium-size enterprises, family businesses and other companies that are not listed at the stock exchanges. In other words, US corporate debts now sit at US$15.5 trillion, or 74% of US GDP. Such a high level of debt, with little doubt, is unsustainable. Besides the pressing corporate debt crisis, debts from US consumers are as high as US$14 trillion, while state and local governments’ debts also reached a record level. It’s likely that the country will face a huge wave of borrowers default in the future.

https://jump.wikifx.com/83348CF26389B46D Broker: LongAsia Visited on: October 26th, 2019 Conclusion: broker truly exists. On-the-spot investigation Regulatory information suggests LongAsia’s office is at 1 Kim Seng Promenade 15-02 Great World City East Tower, and WikiFX recently visited the broker at the site. Following the GPS direction, we arrived at City East Tower, an office building integrated with a shopping center located outside Singapore’s main financial district. We took the elevator to level 15 and immediately saw LongAsia’s name on the floor directory. We entered the office and saw the striking logo of the company on the wall, while the staff carried on their due business in an orderly manner. The office wasn’t very large, with around 20 cubicles inside. We thus confirm through investigation that LongAsia’s office really exists in Singapore. Analysis WikiFX’s on-spot investigation series in Singapore have almost completed, and the financial regulation of Singapore has left us with a deep impression. However, it turns out that LongAsia we visited this time has been rather disappointing broker. According to the official website, LongAsia is a trans-regional company engaged in a variety of businesses, offering global clients a wide range of services such as securities and futures, foreign exchange, assets management and liquidity clearing through its branches. Per checking regulatory information, LongAsia’s retail forex brokerage license from MAS(Singapore) is valid and the broker is authorized in its business. But according to information from other regulatory authorities, the FPSR(New Zealand)’s financial service license it holds isn’t qualified for forex brokerage, while its common financial service license from HKSFC(Hong Kong) is suspected to be a cloned one. Conclusion WikiFX App shows LongAsia to be under regulation, as both of its retail forex licenses from MAS(Singapore) and ICDX(Indonesia) are valid. However, the rest of LongAsia’s licenses are more or less problematic. The broker is rated at 6.09 on WikiFX App, suggesting acceptable credibility, but as LongAsia has been heavily complained by investors recently, WikiFX suggests investors to stay alert if you have chosen this broker, and beware of the risks during investment.

https://jump.wikifx.com/83348CF26389B46D According to the latest report from Reserve Bank of Australia(RBA), Australia’s annual GDP growth rate in the third quarter sits at 1.7%, in line with market expectation. RBA decided on Tuesday’s meeting to hold interest rate at 0.75% in December. Stating that rate cuts help support employment and wage growth, the central bank decided to keep interest rate unchanged in order to wait and assess the effectiveness of its policies, while emphasizing they’ll implement easing measures to sustain economic growth when necessary. According to RBA, the uncertainty in domestic economy mainly comes from consumption, as weakening household income weigh down on spending. Looking ahead, RBA thinks that the Australian economy is coming to a mild turning point, The economy will eventually pick up speed and is expected to register a 3% growth by 2021. In terms of the employment market, RBA estimates the jobless rate to be under 5% in 2020 and 2021; meanwhile, inflation is expected to steadily increase to near 2% in the next 2 years. Overall, the decision of RBA looks rather hawkish and signals a rally of the Australian dollar in the future. AUD/USD daily pivot points: 0.6838---0.6844 S1 0.6821 R1 0.6869 S2 0.6794 R2 0.6888

https://jump.wikifx.com/83348CF26389B46D German’s coalition government led by Chancellor Angela Merkel faces an unprecedented challenge after last weekend, when its major ally Social Democratic Party of Germany(SPD)replaced the Vice Chancellor and Finance Minister with 2 left-wing new party leaders in a leadership election. Both of them have shown strong disapproval of the coalition between SPD and Merkel’s conservative party, and their victory may place Germany at the crossroads of political uncertainties. As the SPD will be holding its party conference in a few days to decide on many fundamental issues, German press worry that the coalition government faces significant challenges in the future. If the SPD withdraws from the coalition, Merkel’s CDU(Christian Democratic Union) won’t be able to secure half of the parliament seats, which may lead to a minority government in Germany, or even trigger early elections. From the long run, the result of SPD election last weekend may be a negative factor for the euro, and we remain cautious about euro’s market trend in the future. EUR/USD daily pivot points: 1.1045--1.1065 S1 1.1021 R1 1.1108 S2 1.0968 R2 1.1142

https://jump.wikifx.com/83348CF26389B46D In speaking of investment, broker scams in forex trading seem to be a recurring theme. As with many industries, the fast growing forex industry also has plenty of predators, who look to take advantage of newcomers. The following story is shared by SaFWat, an investor who sought WikiFX’s help after being defrauded by TurboForex. He reported the illegal broker to warn other investors against it. Complainant: SaFWat (Cairo,Egypt) Illegal Broker: TurboForex Website: www.turboforex.com Account balance: USD 3,000 Withdrawal status: in process Customer service: unavailable Beware of TurboForex! I have been a customer of this forex broker since last May and have deposited US$2,000 in my account. At first, I received US$1,000 bonus from TurboForex WITHIN 24 HOURS! That’s pretty weird because I just started funding my account, but I thought I was lucky then (I must admit that I was a newbie and I entered a field that I knew little about). After around half a year, I decided to withdraw my money but only to find that my request was rejected. I was told by the customer service that CashU can only be used for deposits, not withdrawals. So I switched to another withdrawal option (they only support VISA or MasterCard), but AGAIN I was turned down! I kept on contacting the broker by e-mail and chat and sent the correct bank information every time but I got NO RESPONSE. I had made over 10 attempts to withdraw without any luck...the broker refused to pay out my money and might have escaped! Many investors may ask, “It looks like the broker’s offer can bring me big profits, but it may also be a way to trick me into making deposits, so how can I know whether my broker is a compliant one or not? And how should I avoid being scammed?” The first step doing a thorough research. That means checking a broker’s profile in detail, such as location of the broker's headquarter, how long it has been in business, its regulatory status and customer feedback. Make sure you don’t miss anything suspicious. If you feel you are being scammed, contact us for assistance to recover your money. You can also download “WikiFX App”, a broker inquiry app, at Google play or apple store.

https://jump.wikifx.com/83348CF26389B46D Historical data suggests that December, the last trading month of the year, tends to be the best time for US stocks. Last year, due to negative factors such as prospect of Fed’s interest increase, the market has witnessed some significant downdrafts due to investors’ panic. As the global economic outlook eventually improves, ICI(The Investment Company Institute) statistics showed stock funds registered over US$8.2 billion of inflow past 2 weeks, curbing the constant outflow since this September. However, the market still faces many uncertainties at the end of the year. The Fed’s market interventions is showing its significant impact on the stock market.Though FOMC, after 3 consecutive rate cuts, has shown signs of holding interest rate unchanged, the market has been revived by the liquidity injection and bond repurchase program of the overnight repo market. Debt of the Fed has increased nearly US$330 billion since early September to US$4.1 trillion. Liquidity is boosting the bond market, making it easier for companies to borrow cash that can be used for stock repurchases, which helps to increase demand for stocks. In addition, lower US bond yields also make US stocks more attractive. The Fed's bond purchase scheme plays an indispensable role for promoting a relaxed financial environment and supporting asset prices.

https://jump.wikifx.com/83348CF26389B46D Near the end of 2019, investors all wish to see their trading go smoothly and wrap up the year in a satisfactory way, yet the illegal brokers are always trying to mess up with investors’ plans. By reviewing the recent investor complaints against illegal brokers, WikiFX made a list of the most-complained brokers in November. PTFX which topped the list has drawn much attention, while other heavily-condemned brokers on the list are equally worth-noting. Here’s the list of most-complained brokers in November. PTFX has been in the spotlight frequently this month. Many investors have complained against the broker in succession for withdrawal failure within a short period, while the customer service offered excuses rather than solution, indicating that the broker is blocking withdrawal on a large scale. Moreover, PTFX claimed on the official website that it has acquired IGM Forex, a Cyprus forex broker just lifted out of suspension, and successfully renewed its media exposure, while continuing to lure investors with new tricks such as “high bonuses” or “professional traders team”. Undoubtedly, the ultimate goal of PTFX is to swindle investors’ assets, yet many introduce brokers of PTFX are still trying to advertise for it. According to WikiFX App, PTFX is rated at only 1.56 and has been labeled as illegal broker. Please stay away from it. Shi Jin Investment which ranked second on the list is another scam broker frequently complained by investors recently. According to the investors, the platform first brainwashed them with the so-called "signal providers" , and then blocked their accounts and rejected withdrawals. Through its marketing campaigns, the broker had attracted a considerable group of investors earlier on, which partly accounted for the recent outbreak of complaints against Shi Jin Investment on such a large scale. WikiFX found that the dealer has no valid regulation and has been in business for less than one year. When choosing a broker, investors must pay close attention to its regulation, as well as other information. In addition, investors also need to watch out for KP, a broker with suspected cloned-license, and IC Markets, heavily complained by investors, both of which frequently appear on the most-complained list. Other heavily complained brokers on the list include FXGM, GPAK, Stone Lion, Doo Prime, PGWG and Csgold. The forex market in 2019 is still full of twists and turns, while the illegal brokers never stop their evil steps. WikiFX remains committed to exposing the unscrupulous practices of illegal brokers, and strives to create a safer forex investment environment through joint efforts with investors. You can learn more about the compliance and other information of brokers thoroughly by downloading WikiFX App, and if you notice any irregularity of a broker during your investment, you may post it in WikiFX App’s exposure column to warn more investors against it.

https://jump.wikifx.com/83348CF26389B46D The US dollar index(USDX) is a major indicator for measuring currency movements and strength. Based on the performance of USDX before and after the seven major U.S. holidays (New Year, Easter, Memorial Day, National Day, Labor Day, Thanksgiving and Christmas) from 2007 to 2018, the National Day is the holiday when the U.S. dollar index has the best performance (after July 4), followed by Thanksgiving. Statistic shows that from 2007 to 2018, US dollar index rose after Thanksgiving in 7 years and dropped in 4 years, which is a rather impressive performance.

Broker：Kresna Futures Visited on: October 21th, 2019 Conclusion: broker truly exists. On-the-spot investigation Regulatory information suggests the office of Kresna Futures in Indonesia is at Kingland Tower, 2nd Floor 18 Parc SCBD Jl. Jend. Sudirman Kav. 52-53 Jakarta Pusat, and WikiFX recently visited the broker at the site. Following the regulatory information, WikiFX team drove to Kingland Tower and immediately saw the striking sign of Kresna outside the building. We entered the building and easily found Kresna Futures’ office, and noticed a huge screen at the reception that showed live market data. Through brief communication with the staff of the company, we learned that Kresna Futures takes up the entire second floor, with around 50 cubicles inside the office. We thus confirm through investigation that Kresna Futures’ office really exists in Indonesia. Analysis With a population of 200 million, Indonesia has a booming forex industry and is gaining more visibility on the global financial market in recent years. And on this trip as part of WikiFX’s serial broker visits in Indonesia, we continue to bring you more information of local brokers. According to its official website, Kresna Futures (fully known as PT Kresna Investa Futures) is a branch of Kresna Corporation, a leading commercial investment firm in Indonesia. As a member of the Jakarta Futures Exchange and Clearing House Indonesia, Kresna Futures provides both local and international investors online access to futures trading, including alternative trading system ( SPA ) and primary commodities (multilateral), as well as other financial services on local commodity market, forex market and global stock indices market. Per investigation, the broker holds a valid retail forex license from BAPPEBTI. Its regulatory information is authentic and Kresna Futures is qualified for conducting forex brokerage business. Conclusion WikiFX App shows that Kresna Futures is under valid regulation with a retail forex license from BAPPEPTI. The broker’s WikiFX rating is 6.28, suggesting acceptable credibility on the growing Indonesian forex market. Nonetheless, investors need to pay close attention to asset safety during your investment.

https://jump.wikifx.com/83348CF26389B46D Japan’s retail sales in October saw the greatest decline in four-and-a-half years, while falling consumer spending due to increased consumption taxes flashed a warning signal for weakening domestic demand. The Japanese government has raised consumption tax from 8% to 10% since October 1st in hope of alleviating the country’s heavy debt from public spending. Japan faces the heaviest debt burden among industrialized countries, with a public debt more than twice its GDP. With slumping exports and production, raising consumption tax can dampen the momentum of economic growth. Demand for clothing and big ticket items such as automobiles and large home appliances has weakened, with sales in department stores falling significantly.This has been the greatest drop since March, 2015, when the sales was down 9.7%. Statistics from earlier this month showed that Japan’s economic growth in Q3 has been the slowest in the year, while October’s exports saw the greatest decline in 3 years. US dollar has risen 0.45% against the yen to 109.54. The trend has been strong for the 6th trading day in a row, overtaking the high point of 109.49 earlier this month and reaching a new height since May 31st. On the other hand, the yen has experienced the longest downslope trend since May, 2018. USD/JPY daily pivot points 109.32---109.44 S1: 109.16 R1: 109.73 S2: 108.81 R2: 109.95

https://jump.wikifx.com/83348CF26389B46D Exposed broker: Kainos Regulatory status: operating under cloned license Complainant: Mr. Chen Cause of complaint: investor cannot withdraw The cunning illegal broker swindled investors by claiming that they can achieve “financial independence” under the instructions of signal providers; while investors appeared to be profiting, they actually suffered losses in trading. Recently, Mr. Chen shared his experience of being defrauded by the illegal forex broker Kainos. Event recap Mr. Chen first made acquaintance with the “signal provider” Mr. Zhang in early August this year. Coaxed by Zhang’s inciting words about “financial independence” and “the strongest team of international trading professionals”, Mr. Chen signed up at Kainos and added the signal provider recommended by Zhang to his contact. After that, Mr. Chen was hypnotized by the signal provider into stepping up his investments. According to his trading records, he was instructed by the signal provider to place orders frequently within just a few days. And although Mr. Chen appears to be profiting, the commission from his frequent transactions had outweigh his gains, rendering his account in loss overall. Realizing that something’s wrong, Mr. Chen filed 2 applications on August 13th in the afternoon to withdraw his account balance. However, his applications remained unapproved Though Mr. Chen was able to log in his account regularly, he failed to receive the money withdrawn. Analysis Worrying about not making the right decisions in their trading, many investors often turn to so-called “signal providers” for help. Yet many scammers are trying to lure investors into their traps through this self-claimed title of “signal provider”. Mr. Chen’s case is a typical example of “signal-provider scam”, in which the “investment experts” bombarded him with attractive empty promises that eventually hypnotized him. Investors need to watch out for such “experts” that approach you during the investment process. Their remarks, often exaggerative and self-contradictory, are extremely unreliable. As for Kainos, the broker claims on the official website that it holds an MM license (regulatory number: 705428) from FCA(UK); but information from FCA website shows the regulatory number belongs to Trading.com instead, and Kainos is actually operating under cloned license. Conclusion WikiFX App shows that the broker Kainos is currently operating under cloned license without valid regulation. Rated at 1.64 on WikiFX App, the broker is extremely unreliable, and WikiFX suggests investors to stay away from it.

https://jump.wikifx.com/83348CF26389B46D The overnight US dollar rally has continued since last Friday. The US dollar index surged to as high as 98.33 at one point. EUR/USD fell to the 1.10 mark, while USD/JPY rose to the 109 level. These trends before the upcoming US Thanksgiving holiday this week are the results of forex positions adjustments before the end of the month. Compared with the stock market and the bond market, the readjustment of capital flows will have a stronger impact than hedging operations, so it may trigger selling of USD against EUR or GBP near the end of the month. As of November 19th, 2019, the number of speculative net long positions for the ICE USD index decreased by 3,159 to 24,62. Speculative longs decreased by 2,408 to 31,509, and speculative shorts increased by 751 to 6,884. The non- reportable long positions for US dollar increased by 29,649 to 164,004.

https://jump.wikifx.com/83348CF26389B46D On November 24th, 2019, WikiEXPO successfully wrapped up at Marriott Marquis Queen’s Park Hotel in Bangkok, Thailand. With over 5,000 attendees, over 30 forex brokers and 30 well-known keynote speakers of the forex industry, the event has been a roaring success. With its constantly growing influence, WikiEXPO aspires to join hands with investors and forex professionals to create a safer forex investment environment. Bangkok is the third and last stop of WikiEXPO’s serial expositions in Asia this year. In order to offer the investors and professionals the best participating experience at the event, WikiEXPO team spends approximately 2 months preparing for every exposition. Following the last exposition in HCMC, Vietnam, WikiEXPO Bangkok was hosted at an even larger venue covering 3,000m2, in order to offer brokers, investors and other professionals a high-quality platform to share their expertise and forge business connections. Meanwhile, WikiEXPO’s collaboration with 5 prestigious local forex media groups had enabled local investors to further understand the forex market through more diversified channels. On 24th at 9am local time, attendees entered the venue after registration and the host opened the event with a splendid welcoming address. WikiEXPO understands the significance of market exposure for exhibitors and strove to provide the 30+ participating brokers more branding opportunities in the agenda and venue arrangement. As the host of the event, WikiEXPO had shown much dedication and consideration, which was evident in many details at the venue. From the posters on the pillars to logos on charging stands and drink booths, the exhibitors were given more opportunities to display their brands and logos, and investors can learn about them more directly to engage in more efficient interactions with brokers. Taking full advantage of the venue, WikiEXPO thoughtfully arranged 2 speech sections and 3 salon sections that allowed brokers’ presentations and KOL speeches to run in parallel, thus increasing time efficiency of the Exposition. Investors had more choices during the same period, while more brokers also benefited from having adequate time to introduce their brands. Guest speakers shared their expertise and insights about forex trading, market trend and global financial context through fascinating speeches, such as “Elliott Wave Made Easy”, “Money Management” and “Forex Industry Trends Nowadays”, kindling wild applause in a warm and lively atmosphere. During the event, WikiEXPO also arranged tea breaks for the participants, as well as several lucky draws that offer great prizes such as HUAWEI Mate30 Pro and Huawei P30 Pro. Investors were very pleased as they not only learned plenty about forex but also got the chance of winning exciting prizes. At 6pm, the event concluded in a warm and pleasant mood. The successfully close of the Bangkok Expo also marked a satisfactory ending of WikiEXPO’s journeys in 2019. WikiEXPO team will review the achievements in 2019 and get ready for the upcoming events next year. In the past, WikiEXPO left its trace in Kuala Lumpur, Ho Chi Minh City and Bangkok; looking ahead, WikiEXPO will continue to carve out more new frontiers and achieve even greater success.

https://jump.wikifx.com/83348CF26389B46D The euro hit a 10-day low against US dollar on Monday, and investors remain cautious about the short-term economic outlook of the Eurozone. Although German business confidence improved slightly in November, the Eurozone still faces uncertainties in its economic prospects, while business growth in the region has been almost stagnant this month. European Central Bank President Lagarde and other ECB members may step up bond purchase or cut interest rates further to support the weak Eurozone economy. Taking into account the overall weakness of the Eurozone economy, the ECB is expected to reduce interest rates by another 10 basis points to -0.60% at the December policy meeting. Hedge funds are betting on the euro to fall and increased their short positions, and last week's data showed that overall net short positions increased slightly. The European Central Bank has restarted its bond purchase program and further lowered the interest rate to negative in September. However, these stimulus measures appeared to be ineffective, as the euro has dropped 1.5% this month. Economic signals are worrying and the euro remains weaken against the US dollar. EUR/USD daily pivot points: 1.1013--1.1017 S1: 1.0999 R1: 1.1027 S2: 1.0987 R2: 1.1043

https://jump.wikifx.com/83348CF26389B46D Near the end of the year, many renowned brokers on the forex market are starting to release their financial statements. According to the latest 6-month data recently released by the Bank for International Settlements, the nominal value of forex derivatives totaled US$99 trillion by the end of June, 2019. Overall, nominal value of OTC derivatives reached US$ 640 trillion, up 17.6% from the US$ 544 trillion at the end of 2018. but amid the generally growing trend of the forex market, not every broker’s financial statement reveals good news. The renowned forex broker FOREX.com recently released its financial statement for October. After falling to a lowest point in several months, the broker’s forex trading volume rebounded slightly in October. Statistics showed that the company’s forex trading volume reached US$171.9 billion in October, up 13% from US$151.5 billion in September and down 25% from US$231 billion in October 2018; figures in other categories, although slightly better than September’s, have all declined year-on-year in various degrees. As the trading volume is unlikely to experience significant volatility near the end of the year, it seems this largest forex broker in the US have failed to carry on its success in 2018. Polish forex broker XTB also released its Q3 financial data, which suggests a robust performance of the broker. Though the product intervention measures from European Securities and Markets Authority(ESMA) earlier on had hit XTB significantly, latest figures indicate the broker has been recovering. 10,042 new clients were added to XTB in Q3, 2019, up 105.6% year-on-year; trading revenue of CFD totaled 59.93 million Polish złoty, up 26.76% compared with 2018, while other sectors all witnessed different degrees of growth. Like the financial statements of listed companies, brokers’ financial statements also tell much about their operation abilities and business strength, providing a good reference for investors. Getting timely market updates is crucial for investors, and WikiFX will continue to update more forex dynamics for investors, so you can conveniently access all information you need to know from your fingertip.

https://jump.wikifx.com/83348CF26389B46D US will enter the holiday shopping season on November 29th and although some people expect the sales this season to break the trillion-dollar mark unprecedentedly, other negative factors such as shortened term, market volatility and a traditional retail sector facing much difficulties may still limit holiday sales growth. The holiday season from Thanksgiving to Christmas is 6 days shorter compared with last year, which means both consumers and businesses will have to quicken their pace in shopping/selling in this year’s shortened holiday season. According to US Commercial Department, US retail sales was up 0.3% in October, yet consumers’ purchase of big-ticket appliances have dropped, which dampens the outlook for a strong holiday shopping season. October’s core sales (energy and other consumption excluded) grew by only 0.2%, less than the 0.4% market expectation. As US consumers cut back on purchase of large appliances and clothing, market expectation for the holiday shopping season may be tempered. Of the 13 sub-indicators for October’s retail sales, 7 have experienced a decline,indicating an expanding sluggish trend of the retail sector. Daily pivot points for USDX: 98.06---98.20 S1:97.95 R1: 98.45 S2: 97.63 R2: 98.63

https://jump.wikifx.com/83348CF26389B46D Broker: ATRI Regulatory status: unregulated Complainant: Mr. Liu Cause of complaint: investor couldn’t withdraw Brokers on the forex market always strive to present their clients a perfect image, but sometimes such a flawless image may turn out to be a lie. Recently, Mr. Liu told WikiFX about how ATRI, a deceptive illegal broker, had rejected his withdrawal and suspended his trading account for no reason. Event recap This August, Mr. Liu was introduced to ATRI by an IB and started investment on the platform. Though still young and not very experienced, Mr. Liu still made considerable profits within a month through his keen sense about the market trend. Yet when he applied to withdraw part of the fund, the illegal broker’s risk control department suspended his account for alleged violation of platform’s restrictions, apparently not willing to let Mr. Liu claim his investment profits. Not only couldn’t Mr. Liu take his profits, he wasn’t even able to withdraw the initial deposit. After that, he contacted the broker’s IB agent for several times, but the latter offered no concrete solution besides prevarications and soon stopped answering his questions altogether. Up till now, Mr. Liu’s account remains unavailable and he still can’t withdraw his money. Analysis After receiving Mr. Liu’s report, WikiFX checked ARTI’s official website and its regulatory information and found the following 2 aspects that appeared suspicious. Firstly, The broker’s official website has both English and Chinese versions, but we noticed that the Chinese version claims the broker has NFA regulation, while the same information was missing from the English version. Secondly, we searched NFA(National Futures Association)’s official site and found that ATRI, despite its claim, is not among the brokers under NFA regulation. When looking at ATRI’s website, we noticed that it has made great efforts to impress investors as a compliant and strong broker. The broker claims to be a settlement member of prestigious global exchanges such as CME(Chicago Mercantile Exchange) and NYMEX(New York Mercantile Exchange), while boasting other highlights such as MT4 trading software and fixed spread. Fooled by the sense of superiority created by such false claims, inexperienced investors like Mr. Liu often end up suffering heavy losses from the illegal broker’s trap. But the false regulatory information reveals more about ATRI’s real status than any of its deceptive self-proclaimed advantages. Therefore, investors need to verify and cross-check a broker’s profile through multiple sources to ensure it’s truly compliant and credible. Do not rely solely on information from broker’s official site or advertisements. Conclusion According to WikiFX App, ATRI which is currently unregulated has been in business for less than a year and uses white-label MT4/5 trading software. The broker is rated at only 1.68 on WikiFX App, bearing significant risks, and WikiFX reminds investors to stay away from it.

https://jump.wikifx.com/83348CF26389B46D The AUD is very sensitive to the international trade negotiation situation as a major commodity currency, and given Australia’s nature of an export economy, the situation can be a growing concern for the Reserve Bank of Australia(RBA). The Reserve Bank Board emphasized that they’re ready to ease the monetary policies if necessary, which means the RBA may take additional measures to cushion the impact on Australian economy. According to the RBA’s latest meeting minutes, the board reviewed on November’s meeting the reasons supporting a further rate cut against a weaken global economic outlook. Meanwhile, board members noted that a faster increase of wages will be needed to keep inflation in the 2%-3% target range, indicating the RBA will remain in a quantitative easing cycle. As RBA is still assessing the effectiveness of previous QE measures, whether it will hold the interest rate unchanged at the meeting on December 3rd remains a question. If international trade negotiation come to a standstill, the RBA may further cut interest rate in 2020.

https://jump.wikifx.com/83348CF26389B46D Broker postpones withdrawal with all sorts of excuses; Broker ignores investor’s withdrawal application; Broker blocks withdrawal process; Investor fails to receive withdrawn funds; Investor can’t withdraw profits; Broker’s exchange rate for deposits and withdrawals vary disproportionately Broker and the customer service remain out of reach; Broker frequently experiences “system maintenance”; Broker frequently experiences “withdrawal channel maintenance”.... ... Have you or your friends ever experienced any of the above-mentioned circumstances? Maybe you remained silent and decided to give up any further attempt to recover your funds, or perhaps you took the broker’s words and believed that it was simply a temporary breakdown of the third-party channel that blocked your withdrawal? Perhaps you hadn’t lost the faint hope that you may eventually receive your money after waiting for a few days or a few months, or have you heard the broker had escaped and thought you could do nothing about the situation? In the recent few days, WikiFX has received over 30 complaints against the forex broker Davinci from investors. Mr. Xiao is among the victims of the scam, and he told WikiFX that he didn’t receive the fund withdrawn from Davinci after waiting for a long time. At first he thought it was because he didn’t follow the right procedures, so he filled out the withdrawal application form as the customer service told him, but he still couldn’t receive the money, while the broker’s customer service eventually stopped replying to his inquiries of the matter. According to WikiFX App, the forex broker Davinci is rated at only 1.89. Information shows the broker is registered in Hong Kong and with its current NFA(US) license No.0514866, it operates in overrun business. WikiFX has labeled it as a heavily complained broker to warn investors against it. As a leading forex media, WikiFX sticks to the truth and bravely stands up for investors’ rights in face of the numerous forex brokers of mixed qualities. We have recorded detailed information of over 13,000 brokers in 30 countries, including past scandals of illegal brokers. Our investor-right-protection team is experienced in handling withdrawal failure, unjustified losses and IB scams, and we will do our best to restore your defrauded assets. You may download WikiFX App and register to become a WikiFX VIP member, and get professional assistance in recovering the lost funds.

https://jump.wikifx.com/83348CF26389B46D ECB Chief Economist Philip Lane said on Wednesday that the central bank is about to decide on launching a monetary policy review. Despite massive fiscal stimulus in the past years, the ECB policy makers still face many challenges in boosting inflation of the Eurozone. The ABN AMRO Bank noted that as industrial production and business confidence have been declining in the past 6 quarters, the fixed investment can be affected by several factors in the upcoming quarters, and the total investment of the Eurozone may continue to decline for quarters to come. Technically, the euro-dollar rate is currently at 50% of the declining trend from November 4th to November 14th, which is a key position; whether it can break through the major resistance of 1.1080 will be crucial for the future performance of the currency pair. EUR/USD daily pivot points: 1.1066---1.1072 S1: 1.1058 R1: 1.1086 S2: 1.1041 R2: 1.1097