Archive for the ‘Forex’ Category

10 Best Seminars for Forex Traders

Attending a seminar in person can be one of the most rewarding ways to learn; with access to inspirational speakers, who impart invaluable information that they have amassed during their years in the business.

Seminars are useful for live demonstrations of new and existing forex trading software and tools, as well as for discovering trading strategies, learning new techniques, and discussing the latest industry trends.

Trading expos and events enable traders to attend a variety of seminars and workshops delivered by some of the most capable trading professionals. Events are hosted around the world and are also a good forum for meeting other traders and exchanging knowledge.

Seminar

Here are just a few of the best seminars and events for traders.

MENA Financial Forum & Expo (MENA FFXPO)

http://www.meforexexpo.com/

This Middle East and North Africa Financial Expo is held in Dubai, usually twice a year around April and November time. The popular, two-day event is free of charge and attended by over 1500 individual traders, brokers, and investment firms. It is an ideal opportunity to gain insight from industry experts, benefit from exclusive trading opportunities, and discover the latest products and tools available on the market.

Speakers from leading brokers such as AvaTrade, FXPro, HotForex, and ActivTrades are amongst the many to have been featured on the conference agenda.

The London / Leeds Investor Show

www.londoninvestorshow.co.uk

Investor Conferences Ltd run a series of conferences in London and the north of England; including the London Forex Show, which specialises in currency market trading. There are numerous free seminars, workshops, and interactive exhibitions available to take part in at these premier trading events. Register in advance to benefit from a free place at the conference, as tickets on the door incur a fee. This was priced at £25 in previous years, but may be subject to change.

The show offers the opportunity to mix with other traders and experts, build knowledge, learn new strategies, and sharpen trading skills. The event program has previously included bar patterns, personal experiences related by successful traders, and introductions to new trading platforms.

Just some of the brokers that have participated in the shows include CMC Markets, DF Markets, ActivTrades, and Roboforex.

iFX EXPO International

www.ifxexpo.com

This premier networking event is primarily for businesses and industry professionals, but can also be of significant benefit to individual traders.

The well-attended conference welcomes more than 2500 visitors and has featured topics such as security within the forex world, China / Asia market strategies, and breakthrough trading products. If the seminars are too business orientated, traders can take advantage of the many exhibitions on offer.

eToro and FXPrimus have been amongst the many leading brokers that featured at this event.

China Forex Expo

www.chinaforexexpo.com

This enormous conference is visited by thousands of attendees over the course of two days and features more than 60 exhibitors. It is an opportunity for traders to meet with brokers from around the world, learn about their trading platforms and gain an introduction to the exciting Chinese forex market.

Talks have been provided by famous forex analysts, globally renowned brokers, and talented currency market players, offering a wealth of tips for traders.

World Forex Expo

forexexpo.com

These international conferences are held in Bangkok (Thailand), Makati (Philippines), Moscow and Kiev (Ukraine). The events are open to all traders, and feature exhibitions and seminars from FX brokers, technology suppliers, investment companies and other financial institutions and organisations.

The Financial Expo in Moscow is the largest of its kind in Russia, covers a range of financial services, and has more than 3000 attendees over the course of two days.

Workshops, seminars, live demonstrations and other interactive training sessions are provided by key industry experts from brokers such as Global FX; and special offers are exclusively available to attendees of the conference.

ShowFx World Financial Conference

www.showfxworld.com

The ShowFX World Financial Conferences take place in cities around the world throughout the year, including Bratislava, Moscow, Almaty (Kazakhstan), Singapore and Kiev (Ukraine). Registration is free for the one or two-day conferences, and provide visitors with access to free seminars, workshops, and exhibitions for traders to engage with.

Industry experts providing seminars at the events and exhibitions have been featured from Windsor Brokers, Finotec, and XTB, amongst others.

Valuable prizes are also given away at the conferences, such as the latest model mobile phones and tablets.

ShowFX Asia

www.showfxasia.com/en/

Part of the ShowFx World conference group, ShowFx Asia is an annual event held in Singapore that enables traders to meet with and learn from brokers, financial experts, successful traders, and instructors.

The event hosts a range of seminars and business meetings, inspirational talks and training sessions, as well as offering high-value prizes to attendees.

Just some of the topics covered in the seminars include learning practical and timesaving strategies, and how to recognise trading mind traps.

London Forex Expo

londonforexexpo.co.uk

Another major forex event taking place in the UK is the London Forex Expo. This is tailored towards industry professionals rather than individuals, but still may be of interest for more experienced traders. The show features exhibitors, live trading sessions, debates, and many more learning and networking opportunities.

Brokers that have been involved in and associated with the show include FxPro, among others.

XM International Forex Seminars

www.xm.co.uk/forex-seminars

XM are a member of the Trading Point group and registered in the UK as Trading Point of Financial Instruments UK Limited. They host forex seminars around the world on a regular basis, with events previously being held in Venice, Dubai, London, Bangkok, Budapest, and Athens, among other locations.

The seminars cover topics such as technical analysis techniques, risk management, and trend identification.

IG Markets Ltd.

www.ig.com/uk/trading-seminars-webinars

IG offer live, in-person seminars in London, covering topics such as advanced technical analysis and spread betting using charts. The seminars are hosted by market experts from the firm and are based in the IG headquarters in London.

10 Forex Scams & Unregulated Brokers to Avoid

Forex traders with little experience can be deliberately targeted by unregulated and deceptive brokers, as well as other so-called industry professionals, attempting to fraudulently obtain their money.

Regulation of this relatively new industry is continuing to improve and provide traders with protection and peace of mind. However, there will always be shady operators, setting traps and using tricks to manipulate unsuspecting clients. Traders always need to be on their guard and extremely thorough with their checks before handing over large sums of money to anyone in the industry.

Here are ten common forex scams to look out for.

1. Fake / Unregulated Brokers

Fake, unregulated brokers can lure traders in with promises of high and even guaranteed profits, zero spreads, or other unrealistic offers. As much FX trading is now done online, it is easy for fraudulent companies to put together a high-tech web presence that looks entirely plausible. It is therefore vitally important to perform stringent checks on the broker before entering into any trading agreement.

Traders should check for a company address and verify it; check the website Whois information and make sure it is registered in the company’s name (or their parent company name); and only go for brokers that are authorised and regulated by the relevant industry regulator, such as the FCA in the UK, or CySEC in Cyprus, etc.

The Financial Conduct Authority have a useful tool that allows you to search for a company to see their regulatory status and history.

The regulatory status should be declared on the broker’s website and is an important indicator of whether or not a firm can be trusted. If they are regulated by a reputable regulator in their country of origin, then they are more likely to be legitimate, act responsibly, and be accountable for their actions; as they risk losing their licence and reputation if they fail to act in accordance with the required standards.

Brokers to avoid

Notorious unregulated brokers can be uncovered with a simple internet search. Examples of firms publicly highlighted by the FCA as being unauthorised include:

  • AMFX (www.amfx.com)
  • Banco FX or Banko FX (www.bancofx.com)
  • TFX Traders (www.tfxtraders.com)
  • Golden Green FX Limited (https://www.ggfonline.com, https://www.goldengreenforex.com)

A few reputable alternatives include AvaTrade and eToro.

2. Clone Broker Firms

Some firms may appear to be regulated at first glance, as they are registered on the regulator website and able to provide a registration number, however further investigation reveals that they are just extremely similar to a genuine, regulated broker. They may have just used a slightly different spelling or a variation of the registered broker’s name. This highlights the importance of carrying out detailed and thorough checks before entering into an agreement with a broker.

3. Clone Regulator Websites

Another way a fake broker may convince a trader that they are legitimate is by publishing their regulatory status on their website and linking through to the regulator web page where their entry appears. Except that it isn’t the regulator website at all, and is actually a clone of the register that they have deliberately set up to appear authentic.

To avoid falling into this trap, be sure to go to the actual regulator website and search the register for the broker from there, rather than trusting a link from the broker’s site.

4. Signal Sellers

Signal sellers can be companies or individuals claiming to be able to identify the best trading opportunities, and when they are fraudulent, they often promise quick and easy profits.

They may allege to have extensive experience and expertise, remarkable technical analysis abilities, or privileged access to news affecting the direction of the markets; and these statements are often backed up by glowing testimonials from numerous traders who apparently have made significant profits from the services. The information is provided for a fee, but of course, there is no way to recoup this outlay if it proves to be bogus. If a trader does want to go ahead and use a signal seller, they are responsible for vetting them and verifying their reliability before proceeding with the transaction.

5. Trading Robot Sellers

Automated systems, more commonly known today as ‘robots’, are also offered by scammers purporting to reward traders with high returns for little effort. They may claim that their robots examine price volatility and other factors in order to assess the best time to enter or exit a market. However, often the trades are simply random and absent of any kind of logic. Again, the sales page is regularly accompanied by numerous fake testimonials from traders declaring how the robot has earned them significant profits generating trades on their behalf. If a trader wishes to use an automated system as part of their trading strategy, then extensive research should be conducted to ensure scam robot sellers are avoided.

6. Forex Ponzi Schemes or High Yield Investment Programs (HYIPs)

Ponzi schemes are still one of the most well-known scams around and alarm bells should ring straight away if a forex investment scheme seems too good to be true. In a typical example, money is diverted from people entering the scheme to pay the exceptional profits promised to previous investors. The cycle continues: word spreads about the extraordinary scheme, and as more people join, more money becomes available to pay the alleged profits. Eventually, the scheme collapses and/or the scammer disappears with everyone’s money.

7. Fraudulent Fund Managers

Trading forex can be intimidating, particularly for those entering into it for the first time, so when a fund account manager comes along promising high returns for minimal risk, it can be a tempting prospect. When investors start to receive additional demands for money as markets did not perform as predicted and the fund manager needs to correct the position, this is inevitably a bad sign. Some people can repeatedly fall for this scam, though, until eventually the penny drops (pardon the pun) and the money manager disappears, along with all the investor’s money.

8. Overpriced Training & Education Programs

Traders should be wary of education programs with a promise of profitable results. These are often sold for inordinate fees and are unable to deliver on their promises.

Whilst training programs can be useful for learning the basic process and guidelines, any course declaring that it can teach someone to become an expert in no time at all is probably worth avoiding altogether.

There is a wealth of free information available that may be just as or even more useful than a costly training program: YouTube videos; podcasts; webinars and demo accounts give a potential trader the opportunity to test their abilities before trading with real money; and so on.

9. Manipulation of Bid / Ask Spreads

This scam relies on the naivety of the trader, as it assumes that they are going to be more concerned with checking market movements than the commission being taken by the broker through their bid and ask point spread. The wider the spread, the more money is being pocketed by the broker, and this reduces any potential profits for the trader. The scam is not as common as it used to be thanks to better regulation of the industry and increasingly savvy traders, but it still exists, particularly with offshore, unregulated brokers.

10. Stop Loss Hunting

Deceitful brokers have been known to manually close a position before reaching the stop loss set by traders in order to gain additional trading commissions. This is not very common and is unlikely with a regulated broker, however, is still potentially something to look out for – particularly when using a market maker broker.

50+ Forex & Trading Industry Statistics & Trends From 2017

Researching the Forex & online trading industry? Below are some interesting statistics, charts, trends, and facts we found on the $5.3 trillion Forex market.

We’ve split the forex statistics into seven sections:

Forex Market Size Stats

1. The trading volume of the Forex market is 4X the global GDP1

2. $5.3 trillion dollars per are traded every day in the forex market.1

3. More than 85% of the global forex market transactions happens on only 7 currency pairs known as the majors (EURUSD, USDJPY, GBPUSD, AUDUSD, NZDUSD, USDCAD, USDCHF)2

4. If you spent one dollar every second around the clock, it would take you 31,688 years to spend a trillion dollars. Therefore, to spend $5.3 Trillion, the value of Forex, would take you 126,118 years.3

5. The volume of retail forex trading represents just 5.5% of the whole foreign exchange market2

6. Forex trading daily volume is about 53 times more than the New York stock exchange.3

7. Deutsche Bank is the world’s largest foreign exchange dealer with over 21% in market share2

8. There are over 170 different currencies around the world today that make up the Forex market.2

9. Forex is the only market that runs for 24 hours per day. 1

10. The Forex market is the most liquid market in the world. 1

11. The Forex market is 12X larger than the futures market and 27X larger than the equities (stock) market.

Currency Stats

12. The US Dollar is the most traded currency, being part of almost 90% of global trades.1

13. In May 2017, there were more searches in Google around trading Bitcoin than there were for searches around trading gold or oil, according to Google Trends.

14. The GBP/USD is known as the ‘cable’. Why do we have such a name for it? Simply because, before the creation of global communication satellites and the fiber optic technology, the London and New York stock exchanges were connected by a giant steel cable, immersed in the Atlantic Ocean.1

15. The British Pound (GBP, 11.8%) is the fourth most most traded currency1

16. The Euro is the third most traded currency (EUR 33.4%)1

17. The Japanese Yen (JPY, 23%) is the third most traded currency1

18. The Australian Dollar (AUD 8.6 %) is the fifth most traded currency1

19. The Swiss Franc (CHF, 5.2%) is the sixth most traded currency1

20. The Canadian Dollar (CAD 4.6%) is the seventh most traded currency1

21. The Mexican Peso (MXN 2.5%) is the eigth most traded currency1

22. Chinese Renminbi (CNY 2.2%) is the ninth most traded currency1

23. New Zealand Dollar (NZD 1.4%) is the tenth most traded currency1

Forex Technology Stats

24. MT4 is the most popular Forex trading platform in the world. Its closest competitor is MT5, which as the name implies, is also built by MetaTrader.

25. Over 35% of traders search for a broker using a mobile or tablet device.

26. Traders prefer Android over iOS. 56.1% of traders have an Android phone, while 41.8% use iOS. Samsung is the most popular brand among traders using Android.

27. 90% of successful Forex traders these days use robots (sometimes called ‘expert advisors‘) to help them make money.4

28. In Binary option trading every trade lasts from less than 10 minutes to a maximum of 19 minutes.4

29. 85% of traders use Windows Desktop.5

30. Auto trading began in the Chicago mercantile exchange as early as the 1970’s but became common with retail trading around 1999 when online retail platforms started appearing.3

31. 60% of all Forex transactions are conducted in either the UK (41%) or the United States (19%).3

32. The 5 most popular cross rates, according to research are: EUR/JPY, EUR/GBP, EUR/CHF, GBP/JPY and GBP/CHF.3

Forex Trader Stats

33. A recent research study undertaken by Ph.D. researcher John Forman, reveals that 99.6% of retail Forex traders are unable to achieve more than 4 back-to-back profitable quarters. Sound strategy or not, losses are apparently inevitable3

34. There has been a rise in he number of female traders – 46% more women opened accounts in January – March 2015 than January – March 2014. Despite this, women still only represent 10.9% of all traders, according to our own research here at BrokerNotes.

11

35. Traders at getting started at a younger age. 43.5% of traders in 2017 were aged 25-34. This is up by almost 1% compared to 2016.

36. Some banks are known to allocate as much as 20-30% of their funds into the Forex market and generate between 40-60% of their total profits through trading currencies. This is by far their most lucrative endeavour.3

Forex History

37. The gold standard was set in 1880, the year which many people hold as the start of modern Forex. The amount traded in Forex increased by 10.8% between 1899 and 1913, but holdings of gold experienced an increase in only 6.3%. Clearly, Foreign Exchange began to gain more and more strength.1

38. It was the Bretton Woods agreement that gave way to forex trading. Prior to 1971, speculation in currency markets was not permitted2

39. The world’s first real ‘bank’ was Monte Dei Paschi di Siena founded in 1472 in Tuscany, Italy, and is still in operation today.3

40. By 1913, almost half of global foreign exchange was traded using the Sterling. While the Sterling was the main currency in Forex trading, the most active centers were New York, Berlin and Paris. London, for the most part wasn’t a major player in the trading world until 1914.1

41. While we think of currency markets as a relatively new invention, money changers were first mentioned in the Talmud, which dates back to biblical times. The money changers charged a commission, of course.10

42. The Forex markets, surprisingly, were forced to close sometime during 1972 and March 1973 due to the ineffectiveness of the Bretton Woods Accord and the European Joint Float.3

43. During the 17th and 18th centuries, Amsterdam maintained an active Forex market. Exchange took place between agents and merchants acting in the interest of their respective nations, England and Holland.3

44. The US Federal Reserve only came into existence in 1908. Before that, any US bank could issue their own money.10

Forex Broker Stats

45. The largest company in the industry is IG Index, which is listed on the London Stock Exchange with a market value of around £1 billion. It now has over 72,000 clients worldwide, making approximately one million transactions a month – over 90% of them online.6

46. Approximately 90% of spread betting trades are buy positions.6

47. Binary options typically pay out around 80% if you win, and return only about 10% if you lose.  Add 80% + 10%, and you will get 90%, with a gap in the broker’s favour.9

48. IG reported an 18% rise in third-quarter revenue as traders speculated more because of increased stock market volatility (March 2016).8

UK Spread Betting Stats

49. According to the Financial Times the profile of the average spread better remains white, male, middle-aged and professional. Although IG Index says that about 3,000 people open an account with them each month, spread betting is still not a mainstream activity.6

50. Profits from spread betting are currently free of capital gains/income tax in the UK.7

51. Around 92,000 people in the United Kingdom were spread betting in 2012. About 35,000 people stopped spread betting in the United Kingdom in the year to July 2012 (compared to 32,000 in the same period of July 2011), while around 23,000 traders switched providers. The growth over the period 2009 and 2012 has been modest with just 9,000 new traders.6

52. According to research specialist Investment Trends spread betting client numbers rose to 88,000 in November 2011 compared to 83,000 recorded in October 2010 while those trading CFDs reached 26,000, up from 25,000.6

53. Financial spread betting has been around in the UK and in Ireland for about 40 years but has experienced an impressive rise in popularity in the last decade.6

Sources: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11

ETX Capital MT4 Platform

ETX Capital MT4 Platform Review

ETX Capital offer three different platforms for traders, and the MetaTrader 4 is one of them. MT4 is one of the leading online trading platforms and is a popular choice for online forex trading. When ETX Capital acquired Alpari in March 2015, they sought to provide a familiar trading environment for Alpari clients and that is why they installed the same MT4 servers. With the ETX Capital MT4 platform you can trade a wide variety financial markets including the indices, commodities, equities and currency markets.

Is ETX Capital MT4 Platform Right For You.

The platform is popular choice for:

  • Forex, Spread betting & CFD traders
  • Traders who want to use automated Expert Advisors (EAs)
  • Trading micro lots
  • Traders who want to use hedging
  • leveraged trading
  • Visit the ETX Capital MT4 page and find our more.

    Trading

    For traders who prefer automated trading, this is the platform that provides it. ETX Capital has an AutoTrader platform that facilitates the use of automated Expert Advisors (EAs). Traders using EAs can set parameters for their trades and then wait for the automated responses. The advantage that traders get with this option is that one does not have to be in front of a computer to open or close trades. With MT4 automated trades, ETX Capital is responsible for the hosting while the traders provide the Expert Advisors.

    On The MT4 trading platform, ETX Capital has made sure that traders can take advantage of the all the opportunities available. The one click trading feature is what makes this possible.

    Another trading advantage that the ETX Capital MT4 platform offers is the ability to support multiple charts. Information is very crucial when trading and that is what charts provide. With multiple ones, traders get real-time data that they can use for decision making. The environment in different markets keeps changing, and it is essential to monitor them when trading. Real-time data shows all the fluctuations that may be taking place.

    The ETX Capital MT4 platform has a watch list feature. As the name suggests, this lists enables a trader to keep an eye on specific markets. With the drop and drag function on the platform, traders can add particular markets to the list.

    Trading on the MT4 platform offers traders favourable leverage rates of up to 400:1. Such margins increase the potential returns that a trader can get. Traders can also use micro lots, meaning that it is possible to trade smaller.

    MT4 on Mobile

    ETX Capital has a mobile app for the MT4 platform. Even with automated trading, traders still appreciate mobile apps. Traders can download the app on Android devices and iPhones and iPads from Google Play Store and iTunes. A trader can also get the app on Windows Mobile. Mobile apps are available in multiple languages.

    Visuals and Speeds

    Like other ETX Capital platforms, the MT4 is black in colour. Its tools are in red and blue buttons, so they are pretty easy to see against the black background. The layout does not have any complexities, making trading uncomplicated.

    When it comes to speed, ETX Capital has fast platforms. Traders can log into their accounts without experiencing lags.

    Signing Up

    The sign-up process on the MT4 platform is straightforward. ETX Capital provides a secure page where traders submit their details for sign up. There is also a registration bonus on sign up, and a trader has to tick a box to accept. The broker also offers a first deposit bonus that is dependent on several terms and conditions.

    The MT4 platform may seem a bit complex for some people, but ETX Capital offers educational resources that a trader can use. To find out more about what this top brokerage offers read our ETX Capital review.

    BrokerNotes to Launch World’s First ‘Dogerage’

    April 1st – BrokerNotes, a website that has helped over 45,000 traders find a suitable brokerage, has announced plans to launch the world’s first ‘dogerage’, a brokerage focused on trading the popular dog meme-themed cryptocurrency, Dogecoin.

    Screen Shot 2016-03-31 at 14.48.15

    Dogecoin is a decentralized peer-to-peer digital currency that was launched in 2013, making it the first digital currency to be based on an Internet joke. It recently became the national currency of the Kingdom of Enclava, a micronation between Croatia and Slovenia that was formed in 2014 after a cartographical discrepancy along the Slovenian border was discovered.

    In three years, the fun and friendly digital currency has soared to a market capitalisation of $22,506,012, making it the seventh most-popular crypto-currency in circulation. Despite this, forex brokers are slow to offer Dogecoin trading to their clients.

    BrokerNotes aims to capitalise on this trend by offering retail traders the opportunity to trade canine-themed currency pairs, such as DOGE/JPY (‘puppy’), DOGE/CHF (‘lassy’), and DOGE/RUB.

    A spokesperson for BrokerNotes said “No see future without Dogecoin. Much currencies. So much trading. Wow.”

    Screen Shot 2016-03-31 at 12.12.05

    About BrokerNotes:
    Founded in 2014, BrokerNotes is a leading broker comparison site used by over 45,000 traders to find a suitable broker to trade with. For more information visit https://brokernotes.co

    Five Best Forex Brokers for Large Accounts in 2017

    best stock trading platform UK

    Choosing the best Forex broker for large accounts can be a challenging task because many brokers are advertising themselves as the best in the market. If you are looking for a Forex broker for large accounts, the three factors you need to consider are: how financial secure is the broker, the reliability of the trading platform for large volumes and the regulation. Here is the list of five best Forex brokers for large accounts in 2016.

    1. ETX Capital

    The London based broker ETX Capital is authorised and regulated by the Financial Services Authority in the UK and a member firm of the London Stock Exchange. The firm offers multi-market and multi-asset derivatives through CFDs and spread betting products.

    Accounts

    There is only one standard account at ETX Capital with a minimum deposit of $100 and there is no maximum trade.

    Platforms

    ETX Capital offers 3 top trading platforms, all of which are available on the iPhone, iPad and Android devices. It also offers tight spreads on a range of different products.

    Education

    ETX Capital focuses on educating their clients. Their seminars are geared to traders of all knowledge levels. ETX Capital also offers completely free online webinars, both live and pre-recorded.

    Customer Support

    The ETX Capital website is available in over 20 different languages with a 24/7 telephone customer support. Customer support is also available via email and Chat.

    Conclusion

    ETX Capital is known for its reliability and integrity. The outstanding track record and the many awards that they have earned are a proof of their high standards and responsibility. Read our detailed ETX Capital review for the pros & cons of their trading platform.

    2. IronFX

    IronFx is a large brokers firm with over 50 offices worldwide. The firm is regulated and authorised by FCA, FSP, CySEC, ASIC, FSP and CRFIN. In addition, the company is a member of Eurex and MiFID compliant and EU regulated.

    Spreads and Leverage

    With STP/ECN services, it offers one of the tightest spreads in the Forex industry. IronFX allows scalping strategies within its trading framework and leverage up to 500:1 is also available.

    Platform

    Each platform can be modified, depending on your desire for fixed or variable spreads. The latest in SSL technology is used to encrypt all trading sessions, thereby safeguarding your personal identity information from hacking of any kind.

    Types of Trading Accounts

    • Micro Accounts
    • Premium Trading Accounts
    • Business Trading Accounts
    • Cash Rebate Accounts
    • STP/ECN Accounts.

    Deposits and Withdrawals

    There are no limitations on deposits with IronFX. Local withdrawal requests are handled fast, as long as the required documentation is on file.

    Spreads

    IronFx earns from spreads added to the quotes depending on the type of trading account as well as the currency pair traded.

    Safety of the funds

    IronFx is able to provide their clients with an Investor Compensation Fund scheme which is authorised and regulated by CySEC. IronFx trading platforms also provide traders with an automated risk management system. Client funds are held in segregated accounts with Tier 1 banks like Bank of America.

    Customer Support

    Customer support is available in over 46 languages with a 24/7 access via email, live-chat, fax or direct phone line. Experts in the industry also post daily commentary, which complements training and support materials.

    Conclusion

    Because it is a legitimate and regulated broker, the London Stock Exchange has actually cited IronFx as one of the front runners in the field.

    3. Core Spreads

    Core Spreads Forex is one of the top UK spread betting site operating under the supervision of the Financial Conduct Authority (FCA). It is registered in England with the registration number #07073412. The firm has fixed trading and tight spreads over the long term.

    Trading Market

    Core Spreads trading markets include Forex pairs, U.K. shares, commodities, indices and many others. Main instruments include the EUR-USD Spot, GBP-USD Spot, Gold Spot, US Tech 100 Cash, UK100 Cash, Germany 30 Cash and Wall Street 30 Cash.

    Spread Betting Platforms

    The Core Spreads trading platform uses a secure, reliable and multi-channel trading platform. The platform is available on desktop, iOS and Android phones.

    Safety of the funds

    • Core Spreads uses Services Compensation Schemed that safeguard funds up to £50, 000 that protects the spreads up to £5, 000
    • Traded funds are maintained in segregated accounts.

    Site Strengths

    • Clutter-free trading
    • Welcome bonus of up to £10,000
    • Minimal charges
    • Tight spreads.

    Conclusion

    This trading platform provides accurate and reliable data; it warns of the risks and displays information in spite of the potential benefits it would otherwise gain.

    4. 24Option

    24Option is an Established online binary options broker based in Cyprus. The broker is currently under the management of Rodeler Ltd. It is regulated and licensed by the Cyprus Securities Exchange Commission (CYSEC) under the license number: 207/13. 24option is also a member of the Investment Compensation Fund.

    Trade Types

    • Classic Binaries
    • One Touch Binaries
    • Boundary Binaries
    • Short Term Binaries

    Trading Accounts

    • Standard Accounts
    • Gold Accounts
    • Platinum Accounts
    • Diamond Accounts
    • A free demo account.

    Customer Support

    24option offers a 24/7 Customer Support in 17 major languages. You can access the support team via email, live chat and telephone.

    Site Strengths

    • Attractive incentives and benefits
    • Secured trading platform
    • Wide coverage of markets
    • A range of educational resources.

    Conclusion

    24option is a reputable broker in the Industry. In addition, the range of incentives that 24option offer to traders is certainly one of the most attractive around.

    5. Easy Forex

    Easy Forex was founded in Cyprus in 2001 where it has its headquarter. It is licensed with Australian Financial Services (AFS); License no. 246566 and licensed by Australian regulator ASIC and other similar regulatory bodies in the EU.

    Safety

    The firm protects its clients from fraud by the firm’s employees through internal auditing. Easy Forex employs internet security which guarantees the privacy of client information by allowing secure the safe transfer of the client’s data. Two layers of top class firewall systems at the server are implemented to protect against unauthorised access.

    Account Types and Deposits

    Easy Forex has tailored a variety of accounting packages that cater to the needs and expectations of customers. Instant crediting of credit card deposits eliminate the waiting period associated with most other brokers.

    Customer Service

    The customer service personnel use phone support and are also available through email, and are available during the Forex sessions. Easy Forex conducts live training by telephone, video charts, tours services and an online information centre assisting in the learning process of the beginner.

    Trading Platform

    The Easy Forex uses, a web-based interface for its trades. This offers you great flexibility since you can trade without having to install any software. Easy-Forex uses both the MetaTrader4 and a web trading platform. You can access the platform 24/7 and online trading runs every day except Sundays.

    Advantages of Trading with Easy Forex

    1. Easy forex does not misquote your orders.
    2. Easy forex has a wide choice of base currencies, which negates the currency conversion occurred during deposits and withdrawals.
    3. Easy forex has the Inside Viewer which allows you to view the positioning of your fellow traders.
    4. Spreads are fixed in all markets traded keeping the spread tight.
    5. The MetaTrader platform is well-known and reliable.
    6. Accounts can be started with as little as $25.
    7. Simple and quick deposit process, since you can use a credit card, Wire Transfer and PayPal.

    Conclusion

    Easy Forex has been one of the major players in the online retail forex brokerage industry for almost a decade. It is known for its well-established security structure
    imagecredit:Teresa

    Spread Betting vs Forex Trading: What’s the Difference?

    spread betting vs forex

    What is the difference between spread betting and forex trading?

    Foreign exchange is a vital part of today’s interconnected global economy. Companies require foreign exchange for paying for goods in another currency and dealing with international employees. People require it whenever they are travelling abroad, paying for their child’s education or paying mortgage for real estate overseas. This guide is designed to help investors and individuals understand the basic differences between spread betting and forex.

    Understanding Forex Trading

    Traditional forex trading in simple terms is selling a particular currency and getting another currency in exchange, as per the existing exchange rate between those two currencies. For example, a trader will sell GBP£ 100 to get approximately US$ 140 at a rate of 1GBP=1.4USD. If the price of the held currency rises, in this case USD, the trader can make a profit by selling the USD. The difference between the buying and selling rate is the trader’s profit. There is no universal exchange, so most of the transactions are made over the counter, where individual buy and sell transactions are matched. Once a deal is finalised, known as a spot deal, there is an exchange of the currencies between the two parties.

    Understanding Financial Spread Betting

    Spread betting is different from the traditional forex trading in various ways. In spread betting, there is no actual exchange of the currency or purchase of the financial instrument that is being traded. Spread betting involves taking a position based on anticipating whether the price of a financial instrument will increase or decrease in the future. This form of betting means an investor will win or lose money based on the marginal variation of a particular outcome and the expected value spread quoted by the spread betting brokerage. Besides foreign exchange, spread betting can be conducted on a wide range of financial instruments, including interest rates, individual share prices, indices, price of commodities etc. Depending on how a trader expects the market to move, he/she can either put in a ‘Long Buy’ (anticipating a rise in price) or a ‘Short Sell’ (anticipating a fall in price). Spread betting is further illustrated by these examples:

    Case 1: The trader expects the price of the financial product to rise. The trader assumes that the GBP to USD exchange rate will increase, assuming the exchange rate is 1GBP=1.14USD. The trader places a bet of £20 for every 0.1-point rise in the exchange rate. (long position). With this, there will be two possible outcomes:

    • If the exchange rate increases from $1.14 to 1.70 (a 0.56-point rise), then the trader’s profit will be 56 X 20, which is £1120.
    • If the exchange rate fell from $1.14 to 1.02 (a 0.12-point fall), then the trader’s loss would be 12 X 20, which is £240.

    Case 2: The trader expects the price of the financial product to fall. The trader assumes that the GBP to USD exchange rate will decrease, assuming the exchange rate is 1GBP=1.14USD. The trader places a bet for £20 for every 0.1-point fall in the exchange rate. (short position). There will be two possible outcomes:

    • If the exchange rate increases from $1.14 to 1.70 (a 0.56-point rise), then the trader’s loss would be 56 X 20, which is £1120.
    • If the exchange rate fell from $1.14 to 1.02 (a 0.12-point fall), then the trader’s profit would be 12 X 20, which is £240.

    The profit or the loss with respect to spread betting depends on two things.

    • The stake size, which is the amount an investor bets for every point increase.
    • The points drop or gain of the underlying financial product, which the investor has put his/her money in.

    What Are The Pros And Cons Of Both Investments?

    Investors should be aware of the pros and cons of both investments before making any financial decisions:

    • The biggest advantage of spread betting is that none of the profits are taxed. Forex trading is not tax-free, as you have to pay capital gains tax, as well as stamp duty.
    • In spread betting, you need to put in only a fraction of the money you trade. This is known as margin trading. This means traders can trade in high value since they have to put down only a fraction of this price as the initial stake, if the price moves in the way desired by the trader the profit can be much more that in forex trading. However, the inverse is also true. The loss can be significantly higher as opposed to forex trading, if the movement in price is opposite to what is desired by the traders. In traditional forex trading, the trader has to put down the entire amount of the trade, so the profit or loss is limited to the amount the trader has put down in the trade
    • Forex trading being a long established industry is regulated to a higher extent, as compared to spread betting. Traditional forex trading is provided by more established brokerages or financial institutions such as banks that provide accounts in multiple currencies. Because of this it is always best practice when choosing a spread betting provider to always consider going with a regulated brokerage.It is important to note that because spread betting involves high leverage the potential of losses from spread betting can be enlarged.

    Best Forex And Spread Betting Providers

    Traders and individuals that want to trade forex, binary options and spread betting will benefit from working with a long established and trusted broker like ETX Capital. If you would like more information on ETX Capital, read our full review of ETX Capital here.

    If you would like to see the best spread brokers available, read our comparison of spread betting brokers.

    Other key firms dealing with binary options, spread betting and forex include ZuluTrade, AxiTrader and Spread Co.

    Traders and individuals should keep in mind that their capital is at risk when they make any investments.

    image credit:Ken Teegardin

    5 Best Day Trading Platforms for Trading Forex

    day trading platforms

    The Top Five Best Forex Day Trading Platforms

    Day trading on the Forex markets is a growing industry with countless traders throughout the world conducting trillions of dollars in trades every day. Thanks to high-speed Internet and access to platforms via mobile devices, this method of trading has become exceedingly popular during the past few years to the retail trading community. With the increasing popularity of retail day trading, there has been an explosion of brokers entering the market attempting to capitalise on the growing industry. Before you start trading it is important to consider the quality of the brokers and a definite must before making any kind of deposit with a broker is to ensure they are regulated by a trusted regulatory body like the Financial Conduct Authority in the UK – this is why we have only included regulated brokers in this list. Apart from regulation there are some sure-fire signs of a quality electronic broker. Most experts note that these metrics include:

    • Access to real-time news feeds.
    • Concise and accurate trading data.
    • The ability to choose from a wide spectrum of currency pairs.
    • An intuitive and clear trading platform.
    • Superior levels of customer service.

    Now that we can appreciate the basic factors to take into account, it is prudent to briefly examine what many believe the be the five most efficient and reliable trading platforms on the market today.

    1. ETX Capital

    ETX Capital was founded in 2002 and since this time, it has been considered one of the most reliable trading platforms available. One benefit in regards to a position is that no additional commissions are charged; these are directly included within the spread. Thus, traders will have a much more accurate representation of their expected profits. The electronic trading windows offered include MetaTrader 4 and Currenex. All traders can therefore enjoy a second-to-none sense of functionality that is perfect for the fast-paced nature of the Forex market. A demon account is available for those who wish to experience ETX Capital before committing to a paid membership. Some other advantages encompass (but are not limited to):

    • Chart trading.
    • Automated trading.
    • Mobile alerts.
    • A compatibility with iOS and Android operating systems.
    • Institutional accounts.
    • Maximum leverages of 1:400.
    • $20 no deposit bonus.

    A minimum spread of only 0.7 pips on all euro-dollar transactions is another benefit not to be missed. ETX Capital is definitely the top trading platform available today.

    Read our full review of ETX Capital here to see all the pros & cons of trading with ETX Capital.

    2. Plus500

    Plus500 was founded in 2008 and is currently based out of London. Amenable leverages of up to 200:1 are available for currency pairs and a minimum deposit of only €100 euros allows this portal to be excellent for those who wish to trade in the forex markets on a tight budget. Plus500 also offers a number of risk management features such as:

    • Guaranteed limit orders.
    • Guaranteed fills.
    • Guaranteed stop-loss positions.
    • Trailing stops.

    These are all ideal for the investor who wishes to hedge his or her exposure in regards to a volatile marketplace. Customer service representatives are available 24 hours a day and a demonstration account is possible before a trader commits to a live position.

    Read our full review of Plus500 to see all the pros & cons of trading with Plus500.

    3. AvaTrade

    This firm was founded in 2006 and it currently offers trading software for personal computers as well as mobile devices (iOS and Android operating systems). Floating spreads as low as 0.9 pips can help to maximise profits (although these spreads are based on inter-bank market prices and will therefore vary). There are currently more than 60 different currency pairs to choose from and 400:1 leverages are not uncommon. AvaTrade provides MetaTrader 4 software to all of its clients and this intuitive system is preferred by many professional traders. Some other benefits include:

    • Hedging and scalping capabilities.
    • Zero commissions (fees are based upon the spread).
    • Demonstration accounts.
    • Live news feeds.
    • Market commentaries.
    • Automated trading.

    AvaTrade is also known for its knowledgeable customer support representatives and the ability to address concerns in well over a dozen languages.

    Read our in-depth AvaTrade review here for more information on trading with AvaTrade.

    4. ZuluTrade

    ZuluTrade is thought to be one of the most “open” platforms due to low entry-level deposits (the equivalent of €250 euros) and its highly intuitive user interface. Besides offering streamlined trading platforms, ZuluTrade has created a propriety social signals portal known as Tradewall. This is a streaming page which illustrates all of the latest opened and closed positions. Those who have been searching for a centralised social trading system will be pleased with this addition. More than 50 affiliated brokers support the ZuluTrade system and unlike some other brokers, United States residents can access the software. Low spreads and the ability to access the historical trades of other investors (for up to 52 weeks) are two other features offered.

    5. EasyForex

    EasyForex rounds out our list of top five Forex brokers for day trading enthusiasts. EasyForex is located in Limassol and has been operating since 2003. A minimum deposit of only $25 dollars allows this broker to be another excellent choice for those who do not have a great deal of money to invest. Fixed spreads even during times of high Forex volatility is an attractive feature for risk-averse investors. Expert analysts provide real-time support in no less than 13 languages. Mobile-based platforms can be accessed alongside standard PC portals and the popular MetaTrader 4 system is available with all of these options. Some of the other benefits found through EasyForex are:

    • Streaming news feeds.
    • Automatic trading algorithms.
    • Intuitive trading signals.
    • Email and mobile alerts.
    • Trading stops.
    • Guaranteed stop-loss and limit orders.
    • One-click execution (a massive advantage for day traders).

    Maximum leverages of 400:1 is available for day traders who wish to maximise their profit margins (of course, such leverages is not without risk and increase the potential losses as well). Fixed spreads will likewise enable any trader to be well aware of their costs as well as their predicted gains should a pair move in the right direction.

    These five Forex platforms are perfectly suited for both retail and professional traders alike. As mentioned in the beginning of this article, features such as intuitive software and up-to-the-minute data streams can make all of the difference in the world between a failed position and a successful trade. As these portals are able to accommodate the needs of the smartphone user, they are of even more value to those who wish to execute trades while out and about. As always, with trading it is important to remember that your capital is at risk.

    See our comparison of day trading brokers for more information.

    image credit:Brett Weinstein

    Top 5 Forex Trading Platforms

    Android

    Online Forex trading can be a excellent way to enjoy a great degree of liquidity when compared to other marketplaces. Furthermore, the very fluid nature of this sector is suited for those who wish to capitalise on present market movements without being tied to a traditional share or security. There have been a number of online trading platforms to emerge over the years and naturally, some are better than others. We have compiled a list of five trusted and regulated brokers that offer five custom trading platforms which we consider to be popular, efficient and intuitive.

    ETX Capital

    Known for spreads as tight as 0.9 pips and impressive leverages of up to 400:1, ETX Capital ranks high within the world of online Forex trading. Commodities, indices and binary options are included alongside currency pairs. Free educational trading courses and welcome no deposit bonuses $20 are a few other advantageous features. However, many astute traders choose ETX Capital due to their efficient electronic platforms. MetaTrader 4 and TraderPro are both options; ideal for those who wish to enjoy an effective system without sacrificing their ability to access news, charts and social trading tools.

    For a detailed look, read our review of ETX Capital.

    CMC Markets

    CMC Markets has been considered to be a major player within the industry, and for good reason. One very interesting point to note here is that with spreads as low as an incredible 0.7 pips, this platform is quite profitable. Equally impressive margins serve to mitigate many of the risks associated with margin trades (common within the Forex marketplace). CMC Markets also employs their own proprietary trading software and many believe that it is better than the standard MetaTrader 4. A handful of features available within this software include:

    • More than 80 technical indicators and drawing tools.
    • Immediate access to social trading portals.
    • Live news and analyses.

    Over 330 spot and forward Forex pairs are available and this is an excellent benefit for anyone who wishes to enjoy a greater degree of flexibility. On-the-go trading is also a reality thanks to native applications dedicated to Android and iOS operating systems. CMC Markets is highly recommended for those who have been searching for a well-rounded platform with an impressive degree of reliability.

    IronFX

    This trading company is based out of the United Kingdom and has been in constant operation since 2010. IronFX is therefore one of the oldest and most trusted systems on the market. Affiliate trades are welcome and forex traders can enjoy five types of accounts (Micro, Premium, VIP, Affiliate and Affiliate Plus). Spot metals, futures and shares are available alongside Forex positions. High leveraged positions of up to 1:500 can help to add even more profit to any active position but can also increase the losses experienced. The minimum spread on their currency pairs is zero pips. Bonuses of up to 40 per cent are available when opening a new account and Iron FX offers a social media trading system which can allow traders to access real-time data from other professionals. Free VPN hosting, a refer-a-friend bonuses and live trading competitions are some other options that members can enjoy. Reasonable margins and guaranteed stop-loss trades are other tools which can help to lessen the risks of a more liquid position.

    For a detailed look, read our review of IronFX.

    XM

    Offering a minimum deposit of only $5 dollars and leverages as high as 888:1, XM is without a doubt another highly recommended Forex trading platform. XM was founded in 2009 and it is regulated to operate in numerous jurisdictions (NOT within the United States). This company also makes use of the popular MetaTrader 4 platform and seven different variants of this system will suit the needs of nearly any trader. These options include:

    • XM Web Trader 4
    • XM iPad Trader
    • XM iPhone Trader (varieties for Android and Windows operating systems)
    • XM MAM
    • XM MetaTrader 4 Multi-Terminal
    • XM MetaTrader 4
    • XM MetaTrader 4 (for Mac)

    Automated algorithms can help to prevent any trade from developing a negative balance and comprehensive charting capabilities are able to provide forex traders of all levels with an ability to fully appreciate the movements of any currency pair over time.

    For a detailed look, read our review of XM.

    ATC Brokers

    One interesting aspect of ATC Brokers is that as opposed to exploiting a bid-sell spread, this broker charges a flat commission on each trade. This is currently $0.40 dollars on a lot size of 10,000. Hedging, scalping and partial-lot contracts are all allowed within this electronic platform. It should also be noted that as opposed to many other online Forex systems, ATC Brokers is available to clients within the United States. However, a minimum deposit of $5,000 dollars is required to open an account. This is offset by the use of both MetaTrader4 and Trading Station as efficient platforms. While the spreads are constantly fluctuating, the fact that ATC Brokers does not include any mark-ups is one of the reasons why these figures are some of the lowest in the business. For stability, all margins are set at a ratio of 50:1. A final interesting feature is that ATC Brokers has developed an electronic system known as TFA Sniper. Some of the advantages of this platform are:

    • Automated trading
    • Fibonacci Analyses
    • Extremely clear entry levels
    • Built-in trade managers

    With impressive levels of customer service and numerous training opportunities, ATC Brokers is definitely worth a closer look.

    These are five extremely popular Forex trading platforms on the market today. Still, we should never fail to mention that certain positions are associated with high levels of risk and traders should never execute any trade that cannot be lost. The Forex markets are highly liquid and thus, their volatility can also be high. The use of these electronic brokers can help to minimise such risks while maximising the chances of accruing a substantial amount of profit.

    image credit:Japanexperterna.se

    6 Best Online Trading Apps for Android in 2017

    Android

    As an online trader it is important to be up to date with the latest movements on the stock market. Situations can change quickly so you have to be equally flexible and dynamic. Smartphones and tablets have given people the opportunity to revolutionise their trading and stay up to date with the latest news and trends. In order to this however you need a solid trading platform. Mobile apps are the solution and are now widely available. As well as making trading far more convenient they provide a secure environment to make sure the trades you make are as relevant as possible. In such situations it is important to have the best tools available to you, so for your convenience we have listed the top 7 online trading apps for Android platforms.

    All of the following apps are free to download and available on the google play store.

    1. MetaTrader 4

    MT4 is the most popular android app for online trading and for good reason, its large range of features and polished mobile interface have made it very popular with more than 50,000 reviews on the Google Play store. Some of its key features include: fixed spreads, microlots, technical analysis, customisable tracking graphs and an integrated financial calendar. As the most popular trading app on the Play store it has the added benefit of a large amount of online tutorials and guides to help you get started with the platform.

    If you would like to trade using the MT4 platform, ETX Capital is one of the most popular online brokers who use the platform and also regulated by the Financial Conduct Authority in the UK.

    2. Trading 212 FOREX & Stocks

    Designed by Avus Capital, a well-known trading platform provider, this app is the second most popular on the Play store. It includes a wide variety of features and instruments for tracking your stocks and shares. It’s simple layout and intuitive controls offer greater usability than many of its competitors while sacrificing a few tools. Notable features include: over 400 financial instruments, financial news and analysis and tight spreads, even at news time.

    3. eToro – Mobile Trader

    This app has been built and designed by eToro, best known for their popular online social trading platform. As a well-established company it has excellent customer support for the app. eToro puts a lot of emphasis on its established community of users to communicate with, the app even includes a function to copy the trades of successful users.

    If you are interested in social trading and eToro, you can read our full review of eToro here.

    4. FOREX.com for Android

    This popular American company aims its platforms at experienced traders and this trend continues with its app. One of the leading platforms for the US market it has won awards for its customer service. However, the app hasn’t proved to be as successful as their other platforms. Although it is a powerful and fairly user friendly app some users have reported it having technical problems.

    5. Forex & CFD Trading by iFOREX

    The creators of this app are iFOREX, fairly recent entrants into the marketplace. The app includes a customisable layout and access to over 80 currency pairs. The app has received many good reviews and appears to be a solid piece of software. The trading platform even includes a special account for Islamic traders who wish to abide by the principle of no ‘Riba’ – a term used for unjust gains in business transactions. However, the company has received criticism for its lack of transparency, poor customer service and no free demo account available.

    6. DTMobile by Delta Stock

    Created by the South African company Deltastock this app is currently not very popular, but the users who have downloaded it seem to be very happy with it – the app, receiving a 4.1 star rating on the Play store. Their simple and attractive interface makes it easy to navigate, but as a new company they struggle to keep up with all of the features included in competing apps. However, their excellent customer service puts them in a strong position to continue to improve the app.

    Hopefully this has inspired you to check out Android apps, many of the benefits listed here can only be judged subjectively so it is important to try the apps out to find which one is best for you. As with all financial trading your capital is at risk. These apps are designed for experienced traders, however trial accounts are available on several of these apps and are a good way to build up experience without risk. Mobile apps provide many strengths over traditional trading and can greatly benefit you when used responsibly.