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China’s COVID lockdown ripples through financial markets
For more than a decade, Apple has been one of those companies whose earnings continually impress investors and analysts alike, in a near-continuous cycle of good news. In April, that changed.To get more news about HYCM兴业投资, you can visit wikifx.com official website.
Despite the company posting one of the best quarters in its 46-year history, investors were shocked to hear a dire prediction from CEO Tim Cook. Instead of its usual bullish outlook, Apple warned that the company could see sales decline by as much as $US8 billion due to the impact of China’s renewed lockdowns to prevent the spread of COVID.1
Apple is just one of many major companies concerned that China’s zero-COVID policy would have a material impact on their business. Not only is supply of key goods going to be affected by the closure of factories and the ban on transport to affected areas, but the Chinese consumer market has been hit hard by the shutdown, significantly crimping demand and the country’s growth prospects.
According to investment bank Nomura, about a quarter of the country’s population — some 344 million people — are in some form of lockdown. It’s a massive drain on the economy, causing output to fall 3.5% in March, while restaurant consumption is down 16%.2
By May 2, the impact on China’s industrial production had been confirmed. China’s factory output had slowed to its lowest level since February 2020 — effectively the height of the pandemic.3 The scale of China’s heavy-handed response to COVID numbers is now hitting home for markets, and currency markets have been particularly worried.
On April 25, the Renminbi (RMB) slumped against the US dollar as investors digested the severity of the lockdown and feared that the lockdown would spread to Beijing. From being one of the most powerful currencies last year, China’s yuan fell more than 4% in April, its biggest monthly drop in 28 years.4
The stock market has also been hit. The benchmark Shanghai Composite Index troughed at more than 20% down year-to-date, while the tech-heavy SZSE Composite Index was down 31%. At the end of April China’s stocks were the worst performing globally, with the exception of Russian indices.5 And as foreign investors sell down their holdings, switching out of the RMB to repatriate to their own currencies, this creates downward price pressure on the RMB.Restrictions in China have stalled demand for the raw materials consumed in Chinese factories, and the so-called commodity currencies linked to them.
As the lockdown took hold and factories shut down, the Australian dollar reversed its upward trajectory and turned comprehensively downward. From a peak of 75.88 USD on April 5, the AUD has fallen nearly 6% as investors contemplated the impact of a shutdown on demand for Australian commodities like iron ore.
Iron ore prices had risen 77% between November 2021 and March this year as factories ramped up to meet growing global demand. But by the middle of March, demand had already started to wane and by May the price of iron ore, as recorded at the port of Qingdao, had fallen 10% and major mining companies like BHP fell in unison — BHP shares lost 10% in just a month.
The New Zealand dollar has also underperformed. As a major trading partner to both Australia and China, its currency shed more than 7% in April.
Note, however, that there are two sides to this equation, and the US dollar is currently outperforming other major currencies given it is seen as a ‘safe haven’ option while the war in Ukraine rages and economic uncertainty lingers. The rate of growth and rising inflation in the US also continue to put upward pressure on interest rates, a key booster of currencies.
They are trying to pull off a soft landing, hiking interest rates to slow inflation without tipping their economies into recession. It's a near impossible task, according to former US Treasury Secretary Larry Summers, who found that since 1955 in the US, there has never been a quarter with price inflation above 4% and unemployment below 5% that was not followed by a US recession within the next two years.1 To get more news about DBG Markets盾博, you can visit wikifx.com official website.
Six months ago, commentators were calling on US Federal Reserve Chairman Jerome Powell to stave off surging inflation with interest rate rises. Back then, he, and other central bank policymakers, asserted that inflation was a transitory phenomenon caused by COVID-19 lockdowns, and a release of pent up consumer demand. But inflation readings remained stubborn and with other factors like the war in Ukraine driving up food and fuel prices, central banks have had to jack up interest rates hard and fast to prevent prices from spiralling out of control.2
The 1.5% rise in US interest rates so far this year seems to be biting much harder than many had predicted, with the Atlanta branch of the US Federal Reserve forecasting a 2.1% drop in GDP for the second quarter. That would be on top of the 1.6% contraction in the first three months of 2022.
That's a forecast, rather than official data, but if accurate it would meet one criteria for calling a recession - two consecutive quarters of negative growth.
As seen in 2008, if the US does start to tip into a recession, it is likely that other countries may follow and effectively managing currency risk in this environment would be increasingly important.
In June, the World Bank issued its 176 page economic analysis - Global Economic Prospects. It made for ugly reading. The bank slashed its forecast for global growth from 5.7% in 2021 to 2.9% this year, the sharpest deceleration in a post-recession recovery in 80 years. And there wasn't any sugar coating about the future in the report's second paragraph;
"Amid the war in Ukraine, surging inflation, and rising interest rates, global economic growth is expected to slump in 2022. Several years of above-average inflation and below-average growth are now likely, with potentially destabilizing consequences for low- and middle-income economies. It's a phenomenon-stagflation-that the world has not seen since the 1970s."With the three major drivers of the global economy all showing signs of slowing, the global outlook is becoming more uncertain. In a switch to risk-off sentiment, financial markets are on high alert. US equities, sold off in times of economic shock and uncertainty, had their worst start to a year since 1962 with the Dow Jones down by 21%, S&P 500 down 20.6% by June end. The Nasdaq's fall of 29% year to date is its worst ever.
US government bond yields are another sign of a spooked market. Bond yields move in inverse relation to prices. The benchmark US 10-year Treasury yield dropped to its lowest level since May as investors sought the safety of US government bonds, driving up bond prices.12
The US dollar has already been rallying thanks to the more hawkish (aggressive) tone set by the US Federal Reserve on interest rates. Now global slowdown fears are adding momentum to the dollar's upward trajectory as investors look to the US dollar as a safe haven currency in the event of a slowdown. So far the dollar has had its best start to the year since 2010 according to the Wall Street Journal's Dollar Index, increasing 8.7% against a basket of 16 currencies.13
Other currencies, like the euro, are struggling. The war in Ukraine has meant the prospects for the eurozone are less certain. Interest rate hikes, while coming, have not yet eventuated, muting demand for the currency as investors look to higher-yielding currencies for better returns. The euro is down 7.5% against the dollar so far this year.
The Japanese yen is another safe haven currency in times of stress but here particularly the ultra-accommodative monetary policy is having a strong impact. While the Fed has been steadily raising rates, the Bank of Japan has been opting to wait and see. The width of that interest rate differential has helped the US dollar soar 18% against the yen this year.
Slow or backward global growth is bad news for commodity currencies such as the Australian dollar and New Zealand dollar, which are closely linked to demand for key exports. These currencies are already being sold off based on the fear of global recession, both hitting 2-year lows in July.
The recent weakness of the US dollar, the decline of commodity prices and the recovery of equity indices is a relief for global investors. But does this indicate the market has turned a corner or is it just a short-term rally within a bear market?To get more news about TMGM外汇, you can visit wikifx.com official website.
US stock indexes have outperformed European and Asian recently. The benchmark US S&P 500 is down circa 13% year-to-date having been as much as 23% lower in mid-June. Yesterday, stocks were volatile after US manufacturing data from ISM topped expectations in a signal that price pressures on companies in the world's largest economy could be easing. Although central banks continue to tighten monetary policy, there has been a notable loosening in financial conditions. Expected policy rates have been trimmed back markedly and the expected peak of interest rates in multiple regions has also dropped. US rate cuts are now being priced in for 2023. However, this is mainly because recession risks are rising, which the bond market is warning with the inversion of the 10 year/2-year curve and the more significant 10 year/3-month curve on the brink.
Demand for safe haven assets has dragged GBP/USD back from a 5-week high recorded yesterday. Market jitters are largely related to China's warning about military action if US House of Representatives Speaker Nancy Pelosi visits Taiwan as planned.
Chinese fighter jets are flying close to Taiwan ahead of Ms Pelosi's visit as the US and Taiwan brace for a potential violent reaction. Although the visit isn't in the official itinerary, there is speculation Ms Pelosi will meet Taiwan's president tomorrow, which Beijing views as provocative. This could trigger a response from the US Air Force and Navy and this uncertainty alone is driving safe-haven flows into the Japanese yen, whilst hurting risk-friendly assets like stocks and currencies like the British pound.
The Reserve Bank of Australia (RBA) raised interest rates by 50 basis points to 1.85% - the highest level since April 2016 and in line with expectations. The Australian dollar has weakened though as the RBA announced that future hikes will not follow a pre-set path and instead be guided by data.
GBP/AUD has jumped nearly 1% higher already this morning stretching further north of the near 3.5-year low clocked just two weeks ago. Since April this year, GBP/AUD has oscillated within 6-cent range between A$1.72 and A$1.78. Today's price action again highlights that rate hikes will not always result in a strong positive currency reaction.
Rouble trouble, a unique opportunity for India
In a year which saw a storm in all currency markets, Russia’s rouble has come full circle.To get more news about Exness外汇, you can visit wikifx.com official website.
On March 10, the rouble hit a low of 150 against the US dollar from a stable level near 70 for the past two years.But on June 26, doing a volte face, rouble reached almost 50 against the US dollar, its strongest level in seven years. What is happening with the rouble and how does it impact India?
The West imposed draconian sanctions on Russia in response to the Ukraine invasion. The immediate impact was the collapse of rouble. Russia took many measures to arrest the fall. The Russian central bank mandated that 80 per cent of foreign earnings of Russian firms had to be converted to rouble. It increased interest rates to 20 per cent from 9.5 per cent in one go.
Russia decreed that hostile country buyers had to pay in rouble for buying natural gas. This resulted in increased demand for roubles and its appreciation. This was aided by a historical rise in the prices of oil and gas and continued demand for Russian energy products. An appreciating rouble gave Russians a sense of pride which overshadowed the mounting losses in Ukraine.
But the s,tory here is also somewhat deeper. There has been a complete collapse of imports as they fell to multi-decade lows due to the sanctions. Russia was also removed from the global payment system SWIFT. Hence, there is no need or possibility for them to sell roubles to buy foreign exchange. So ruble is currently like an illiquid unlisted firm with no way to determine its fair price. If a currency is not traded in the market and the demand for the foreign currency evaporates, what is its true equilibrium price?
In the short term, the immediate benefit to India is to buy cheaper crude oil from Russia. In the medium term, Western countries vacating the Russian business space can provide uncontested market access to Indian products. In the long run, diversification of energy sources away from West Asia is a critical aspect of energy security and consequently national security.
With the current restrictions expected to continue, it would be extremely difficult to use reserve currencies for trade with Russia. As per reports, the solutions being discussed are a ‘rupee-rouble’ mechanism and a new BRICS currency based on a basket of member currencies.
In international trade, profitability is dependent on the price of products and exchange rate between the currencies. Since the value of rouble is indeterminable, it cannot be blindly used in settling trade. Else all gains may turn out to be merely paper profits.
Since convertible currencies like USD are unusable, the best solution for India is to insist on a rupee payment mechanism. The imports by India and Russia would be both settled in INR. This would be a concrete step towards internationalisation of the rupee.
Indian firm UltraTech recently used Chinese yuan to buy Russian coal. This strengthens the internationalisation process of Yuan and given our competitive interests in the region, is not the best way out.
Internationalisation of rupee will be beneficial for India as it lowers transaction costs of trade and investment operations by mitigating exchange rate risk. By decreasing demand for foreign exchange, it supports the value of rupee. It will help our companies with lower hedging and borrowing costs and provides our financial companies scope for global expansion. It will also give India political leverage and increased soft power. These will go a long way in establishing a leadership position for India in the world in general and in the Asia Pacific region in particular.
Russia may have reservations on this due to the limited use of the excess rupee balances arising out of the bilateral trade deficit. But in the long term with Indian companies displacing West in exports to Russia, the trade deficit is expected to narrow. The process has already started. Confederation of All India Traders (CAIT) said that trade organisations from Russia are seeking assistance to connect with Indian manufacturers, traders and exporters.
The RBI noted in its report that internationalisation of rupee is inevitable, but it did point out some risks involved. This makes the simultaneous pursuit of exchange rate stability and a domestically oriented monetary policy more challenging. It can potentially limit the ability of the central bank to control domestic money supply and influence interest rates. However no worthy goal comes without some risks and we should embrace the challenges to claim our rightful place in the world. The RBI by recently allowing the trade to be denominated and invoiced in the Indian rupee has taken the first step.
India can use this opportunity to strengthen its ties with Russia. Holistically, this situation can provide a unique opportunity to strengthen our economic, energy and national security.
Forex Trading: A Beginner’s Guide
Forex (FX) is a portmanteau of foreign currency and exchange. Foreign exchange is the process of changing one currency into another for a variety of reasons, usually for commerce, trading, or tourism. According to a 2019 triennial report from the Bank for International Settlements (a global bank for national central banks), the daily trading volume for forex reached $6.6 trillion in 2019.To get more news about 嘉盛外汇, you can visit wikifx.com official website.
Trading currencies can be risky and complex. Because there are such large trade flows within the system, it is difficult for rogue traders to influence the price of a currency. This system helps create transparency in the market for investors with access to interbank dealing.
Retail investors should spend time learning about the forex market and then researching which forex broker to sign up with, and find out whether it is regulated in the United States or the United Kingdom (U.S. and U.K. dealers have more oversight) or in a country with more lax rules and oversight. It is also a good idea to find out what kind of account protections are available in case of a market crisis, or if a dealer becomes insolvent.
Read on to learn about the forex markets, what it's used for, and how you can get started trading.
What Is the Forex Market?
The foreign exchange market is where currencies are traded. Currencies are important because they allow us to purchase goods and services locally and across borders. International currencies need to be exchanged to conduct foreign trade and business.
If you are living in the United States and want to buy cheese from France, then either you or the company from which you buy the cheese has to pay the French for the cheese in euros (EUR). This means that the U.S. importer would have to exchange the equivalent value of U.S. dollars (USD) for euros.
The same goes for traveling. A French tourist in Egypt can’t pay in euros to see the pyramids because it’s not the locally accepted currency. The tourist has to exchange the euros for the local currency, in this case the Egyptian pound, at the current exchange rate.
One unique aspect of this international market is that there is no central marketplace for foreign exchange. Rather, currency trading is conducted electronically over the counter (OTC), which means that all transactions occur via computer networks among traders around the world, rather than on one centralized exchange. The market is open 24 hours a day, five and a half days a week, and currencies are traded worldwide in the major financial centers of Frankfurt, Hong Kong, London, New York, Paris, Singapore, Sydney, Tokyo, and Zurich—across almost every time zone. This means that when the U.S. trading day ends, the forex market begins anew in Tokyo and Hong Kong. As such, the forex market can be extremely active anytime, with price quotes changing constantly.
A Brief History of Forex
In its most basic sense, the forex market has been around for centuries. People have always exchanged or bartered goods and currencies to purchase goods and services. However, the forex market, as we understand it today, is a relatively modern invention.
After the Bretton Woods accord began to collapse in 1971, more currencies were allowed to float freely against one another. The values of individual currencies vary based on demand and circulation and are monitored by foreign exchange trading services.
Commercial and investment banks conduct most of the trading in forex markets on behalf of their clients, but there are also speculative opportunities for trading one currency against another for professional and individual investors.An investor can profit from the difference between two interest rates in two different economies by buying the currency with the higher interest rate and shorting the currency with the lower interest rate. Prior to the 2008 financial crisis, it was very common to short the Japanese yen (JPY) and buy British pounds (GBP) because the interest rate differential was very large. This strategy is sometimes referred to as a carry trade.
An Overview of Forex Markets
The FX market is where currencies are traded. It is the only truly continuous and nonstop trading market in the world. In the past, the forex market was dominated by institutional firms and large banks, which acted on behalf of clients. But it has become more retail-oriented in recent years, and traders and investors of many holding sizes have begun participating in it.
An interesting aspect of world forex markets is that there are no physical buildings that function as trading venues for the markets. Instead, it is a series of connections made through trading terminals and computer networks. Participants in this market are institutions, investment banks, commercial banks, and retail investors.
The foreign exchange market is considered more opaque than other financial markets. Currencies are traded in OTC markets, where disclosures are not mandatory. Large liquidity pools from institutional firms are a prevalent feature of the market. One would presume that a country’s economic parameters should be the most important criterion to determine its price. But that’s not the case. A 2019 survey found that the motives of large financial institutions played the most important role in determining currency prices.
Forex is traded primarily via three venues: spot markets, forwards markets, and futures markets. The spot market is the largest of all three markets because it is the “underlying” asset on which forwards and futures markets are based. When people refer to the forex market, they are thus usually referring to the spot market. The forwards and futures markets tend to be more popular with companies or financial firms that need to hedge their foreign exchange risks out to a specific date in the future.
After 49 days since my withdrawal approval date(21st Feb 2022) on 10/04/2022, and ignoring some of my emails, TheTradersDomain returned my 10000 USD to my trading account as they could not transfer it by wire transfer to Australia. So I have to use crypto withdrawal and pay the commission which is at least 2.5 % on their side. ( there will be some other commission on any crypto exchange you receive it).To get more news about tiomarkets forex, you can visit wikifx.com official website.
In my emails with the support team, as I mentioned before, they weren't responsive and supportive enough. They replied to my emails with delay and ignored some. They did not even apologise once for this stressful and unreasonable delay. If I could give a rating to the support team separately, I would barely give them even one star.
When I got disappointed from the support team and the way they ignored my emails, on the 44th day, I managed to message Uncle Ted directly. The first thing he did was that he apologised for the delay. He followed it up and then explained me the situation and told me that I don’t need to be worried of losing my money. In about 5 minutes, I received an email from the support team updating me about the situation.
So, from here I would like to thank Uncle Ted for his nice attitude and supportive response to my message. I think he deserves a better support team who can protect his good reputation in a better way.
Mar 14, 2022 - 2 Stars Before writing my review, I'd like to mention that I've been working with this broker for about 8 months and I'm not just a random new customer.
When something goes wrong with TheTradersDomain, you're not sure when and how your problem will be solved. You have access to the support team only by email (no phone number available for the support).
I recently requested for withdrawing 10,000 USD from my account and it's been about 22 days (since 21st Feb - Withdrawal approval day) and I still haven't received my money to this date. It was supposed to arrive in 7-10 business day. They put me in huge financial trouble and I'm paying the cost of this delay every day and they absolutely don't care. They are not even responsible enough to answer me properly. I don't know where the money is and when this problem is going to solve. I sent them a few emails and they only keep saying that they're awaiting to receive information from their processor (?!) Apparently, they use a third-party processor for deposit/withdrawal which means they don't know themselves what's going on.
Long story short, they are not scammers as I've been working with them for a while. They do good job when there is no issue and no specific customer support is needed. But keep in mind that if something goes wrong, they are not reliable and not even responsive/supportive enough to their own customers. You can easily be in a huge trouble like me as you can't rely on them. And the worst part is that when you are in trouble, there is no help or support and you can't do anything just to wait and hope one day your problem will be solved.
ProsperityFX (Prosperity4X) is a conservative broker that provides classic services of access to international financial markets for professional traders. The emphasis is on professional trading. Trading conditions are designed in such a way that they will be unprofitable for novice traders with a turnover of 1-2 lots per month. In return, ProsperityFX guarantees a spread without fundamental expansion and a high order execution speed.To get more news about traderschoice net, you can visit wikifx.com official website.
I like the account management system here whenever I connect to copying signals from the MetaQuotes service.
1. Fast, instant copying of orders without freezing. I have the investor password of the traders I copy, so I can easily compare their opening quotes and my own. Even making allowance for small differences in brokerage quotes by 2-5 pips, there are no complaints about ProsperityFX.
2. Convenient system for switching between several accounts in the personal cabinet. In a few clicks, without constantly entering passwords, a convenient display of statistics for several accounts is available.
3. No liquidity problems. There were even funny situations: the trader I copy has slippage and delay due to requotes. And I have an average slippage level set in MT4 without a repeated broker request. And on volatility, I manage to close the trade manually before the trader.
The broker is “no-frills”. There are no special tools here. But it is suitable for regular trading.
Just register and get authorized to submit a review of the broker’s activities and conditions on its platform. Everyone can and is invited to submit a review. All reviews of ProsperityFX published on the website in 2022 are verified and confirmed by Traders Union as reliable comments by real traders.
The policy of ProsperityFX is: "Our deeds and achievements speak for themselves." The broker does not have a license from any regulator, but the site is constantly updated, the FAQs section mentions that the broker's team is working on its legal documents which, when finalized, will allow it to obtain licenses from several regulators. On the broker's website, there is no information about where its offices are located, but serious-minded traders will find a reference of Saint Vincent and the Grenadines in the Terms & Conditions. By the way, the United States is not among the list of countries in which the broker works.
Trading conditions. Everything is very secretive here as well. ProsperityFX discloses information only to those who are eager to open an account and make trades. From the general conditions on the site, only spreads for several types of accounts and fixed commissions are indicated. They are high, which is a filter to keep out beginners who often leave after only a few opening trades. The broker is aimed at professional traders who will consistently open trades. Therefore, there are no training materials here. But the support responds quickly, clearly, and competently.
There are no commissions for withdrawing money or any restrictions. But the list of affiliates includes only bank payment systems and BTC. This is partly a plus - traders working through wallets rarely pay tax. This does not work with banks. Therefore, this is an indicator of the seriousness of the broker and the transparency of its work. In general, the broker makes a positive impression, but the trading conditions for novice traders with small trading volumes are not favorable.
With over 9,800 cryptocurrencies currently on the market, investing in crypto is just as challenging as climbing Mount Everest. Despite things getting more complex, the interest in crypto will continue to grow in the coming months. Whether you are a seasoned financier or a novice in the crypto universe, we are happy to give you a comprehensive line-up of the best tokens to invest in for 2022.To get more news about prosperity fx, you can visit wikifx.com official website.
The crypto leaderboard is constantly shifting, and it’s not the best idea to buy and sell crypto for a short-term financial boost. Cryptos are volatile and need to be monitored, so the best approach is to stack up on info and invest cleverly with a long-term plan. Without further ado, let’s move on with the list of the best cryptocurrencies to invest in this year.
We’ve compiled a short, to-the-point list of the best investment suggestions to save you time and money. Knowing it’s not easy to find the most promising cryptos to invest in, we believe it’s better to narrow down the choice and focus on the most advantageous options.
TIKKA is geared towards the global investor – but not the type rolling in money. The company behind the TIKKA token, Cube Wealth, recognised many problems and deficiencies of the financial world. The idea to form the company and embark on a journey in the fintech industry came from the vision to provide for the middle class.
After selling Citrus Pay to PayU in 2016, the entrepreneur and Stanford alum Satyen Kothari founded Cube Wealth. The company is now one of India’s top ten wealth tech companies. Aiming to automate the process of investing, Cube released the TIKKA token.
It is a WAT built on Polygon that saves time while curating quality emerging assets, from web3 tokens to NFTs to assets in the metaverse.
TIKKA is a utility token built on Ethereum-based ERC-20 standards. It is hosted on the Polygon mainnet, ensuring lower transaction fees, interoperability with other blockchain networks and a PoS security layer. Polygon is a thriving ecosystem for TIKKA, more sustainable and unsusceptible to Ethereum’s scalability problems.
As the best crypto to invest in for 2022, TIKKA has numerous benefits. Once you become a TIKKA holder, you can look forward to accessing the best global investment opportunities. Establishing personal wealth is a demanding task influenced by the lack of time and discipline. TIKKA offers automation that can help with both these disruptive factors.
Aside from primary advantages, TIKKA can also bring you passive profits. Airdrops and referral incentives are in play, meaning you can earn special rewards based on the percentage of your deposits. You can read about the latest TIKKA token airdrop on Twitter.
With TIKKA “in your pocket”, you gain access to the TIKKA marketplace. It’s where you can grab quality emerging assets and unlock software features that save time. You can also follow premium advisors and enjoy the same privileges as ultra-high net worth individuals exploiting top-quality investment advisory.
The token offers multiple usage options, from curated crypto investments to emerging asset categories. According to its roadmap, the TIKKA token will give its holders access to AI-based investing personas. It is marketed as a time-saving feature that will facilitate building personalised portfolios according to personal preferences. Furthermore, the TIKKA AI-based automated investing personas will mirror trades made by top-notch investors without burdening the users with in-depth strategies.
Are you still wondering why you should invest in TIKKA tokens? Cube believes there should be no more subpar options and advice for regular investors. It is time to open the gates of wealth to people who struggle to invest while the ultra-rich are getting all the top-notch investment advice and support.
The opportunity is there, and TIKKA offers the solution. If you wish to enter the global wealth management market projected to reach $3.43 trillion by 2030, keep your eye on TIKKA. The token celebrated more than 50,000 followers on Telegram in April 2022, and the hype is just getting started.
Coinexx utilizes MetaTrader 5 (MT5) to bring together multiple asset class including forex, commodities, indices, and cryptocurrencies. The broker offers trading exclusively on MT5 and traders can choose from MT5 desktop, web and mobile versions. Coinexx recognizes the potential benefits of leverage products and offers up to 500:1 leverage across all instruments barring cryptocurrencies which are limited to 5:1 leverage. They also allow a trader to wager on micro lots, as less as 0.01 which is yet another distinction of the platform. The broker does not believe in pinning down its clients’ trading habits and allows them to trade more autonomously by allowing all trading styles.To get more news about rofx net, you can visit wikifx.com official website.
The broker’s deposit and withdrawal process is one of the fastest with deposits being instant and withdrawals processed within 24 hours. All transaction-related processes are expedited with consummate proficiency and zero transaction costs.
Apart from this, the traders can deposit and withdraw in more 25 cryptocurrencies, giving them an edge over their competitors. The broker has a strict no fiat policy, meaning they do not accept deposits in fiat currencies.
Customer Support
When it comes to crypto forex trading platforms, an excellent customer support service is a must. Majority of crypto forex brokers choose to remain anonymous and choose to keep the communication one way, to say the least, when it comes to client and broker relationship. And with Coinexx, they provide 24/5 live chat support, email support and call back on request to their customers, unlike any of the other brokers out there.
Conclusion
A common colloquialism is that disruptors in any space need to be 10 times better than competitors to succeed. And Coinexx is not only better but different. The broker has risen to the occasion by identifying the handicaps in the forex and existing crypto market, working day in and out to make the entire trading process as simple and hassle-free as possible, with transparency of trades and policies, instantaneous transactions, innovative, customized digital trading solutions and keeping transaction costs to the bare minimum. An innovative broker with a lot of potential!
Gold is a well-respected asset worldwide. One of the most popular of the precious metals group that has been interwoven into cultures dating back to ancient times. Gold is one of the earliest traded assets and still provides plenty of opportunities for investors and traders today.To get more news about ospreyfx, you can visit wikifx.com official website.
If you’re thinking about “going for gold” read on for a deeper understanding of why people invest in gold and why 2021 could be the right year to do so.
The Gold Throwback
Throughout history, gold has been considered a trusted and valuable commodity. Despite the real value of the precious metal presenting itself in its negative correlation with the stock market and the positive correlation with inflation its store of value dates back way before the rise of the stock markets.
The precious metal’s power and wealth can be traced back as far as 4000BC. Gold’s rise to finance fame didn’t come until the late 1800s. It was then that the Gold Standard took the limelight meaning societies valued their currency to the price of gold. However, in the 1970s we witnessed the collapse of the Gold Standard, and in its place came fiat currency. For years Gold price remained stagnant but during the 2008 financial crisis Gold price almost doubled. Since then the asset has proved its strength as a hedge and here we bring you 5 reasons why having Gold in your portfolio is a good investment.
5 Reasons You Can Strike Success with Gold
Liquidity
Gold is typically considered to be a highly liquid instrument, allowing traders and investors to buy and sell Gold hassle-free.
Diversification
We have all heard the phrase, don’t place all your eggs in one basket. This infamous catchphrase is very true in the financial markets. A balanced portfolio containing a mix of asset types helps traders to spread risk and reduce volatility. Spreading your horizons will often include diversification assets that are not closely correlated. Historically, Gold has been known to have a negative correlation with stocks and other financial instruments. One clear example of this is 2008 when stocks plummeted, and we have seen investors flock to Gold.
Safe Haven
Unlike other assets like traditional currencies Gold is not directly impacted by interest rate decisions and it cannot be printed to control supply and demand. Gold is considered a safe haven asset because of its scarcity and the fact it has held its value over time. Not only that but the precious metal has proven its worth in the face of adverse economic uncertainty.
Inflation Hedge
Gold prices in the past have appreciated alongside a depreciating dollar, rising inflation, and when the cost of living increases. Over the years Gold prices have climbed and stock markets declined in times of high inflation. So, investors may look to gold as a hedge asset when they believe that their local currency or other investments are losing value.
Wealth Safeguarding
Throughout the ages, Gold has a history of holding its value and has been trusted by many for its wealth preservation attributes. Take for example owning $50 worth of gold 50 years ago and owning a $50 note. Gold has since increased its value and thus far proceeds your initial $50 investment. However, due to inflation the $50 has not grown in value and will not buy you as much as it would have in the 70s. Furthermore, over the last 30 years, Gold has increased by over 500%, so if you invested £2,000 in the metal then your investment could be worth over $10,000.