Are you happy trading on NFP?
It is obvious that NFP is amongst the major news every month, so do you feel happy trading on it? I am working with OctaFX, as they are the best with been licensed by FCA and are a true ECN too for which they have won award as well. I feel happy and comfortable here especially with trading on high impact news like NFP, it is pretty pleasing with no worries over slippage, re quote or any such deal, it really makes me feel happy and comfortable.
NFP - Non-Farm Payrolls from USA’s Bureau of Labour Statistics is a collection of data regarding employment added per month, employment rate and wages across various employers. It is high risk events and produces lots of volatility. But having a good broker like FreshForex is also needed which is a regulated ECN broker with lowest of low spreads and high speed execution. MegaRebate 2.0 bonus can be used for this type as it provides cashback for every trade with upto $20 per calculated lot traded!
The NFP is a widely watched news report and you can almost always see that volatility is drying up when investors are waiting for the release. Thus, price often just ranges sideways on the Friday before the NFP without any sense of direction.
NFP data is significant because it is released on a monthly basis, making it an excellent indicator of the current state of the economy. The Bureau of Labor Statistics releases the data, and the next release can be found on an economic calendar.