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Best trading platforms for forex trading in 2020

The most critical component of the human body is blood. The blood is responsible for the overall development of the human body. Similarly, for a retail Forex trader, a trading platform works as blood. The trading platform connects traders with the foreign exchange market. It is a tool that enables traders to build their trading empire.

What are the best trading platforms for forex trading?

The most critical
component of the human body is blood. The blood is responsible for the overall
development of the human body. Similarly, for a retail Forex trader, a
trading platform works as blood. The trading platform connects traders with the
foreign exchange market. It is a tool that enables traders to build their
trading empire. 

The choice of a good
trading platform, therefore, becomes indispensable for a retail Forex trader.

101Investing offers the widely used trading
platform, MetaTrader 4. Apart from this, the broker also provides several other
services like quick deposit and withdrawal, low spreads, 24/5 customer support,
and a range of tools for trading.

But the question is
which trading platform is best suited for beginners and professional Forex
traders.

Which
is the best trading platform for Forex trading in 2020?


MetaQuotes trading platform

The trading platform
created by MetaQuotes has managed to capture the attention of many Forex
traders. The Forex trading
begins and ends with this trading platform. Why not when they are
straightforward to use and understand. It is available on desktop, mobile
phone, and cloud.

The MetaQuotes trading
platform comes in two variants Metatrader4 and Metatrader5. Metatrader4 is the
oldest version of the trading platform, and the Metatrader5 is the latest
version offered by MetaQuotes.  

MetaTrader 4 (MT4)

MT4 is one of the most
eminent and used trading platforms. It is available as a desktop application, a
web-based platform, and there is an application for iOS and Android devices. It
offers critical degrees of customization and is acceptable with dozens of indicators
and analyses tools.

Note
that MT4 is used by the most top brokers, including 101Investing. The platform comes preloaded with up to 30 technical
indicators.

There is a motivation behind why it is one of the most used platforms.
It is a direct result of its powerful functionality. It offers an ongoing
offer/ask value cites in the market watch window. MT4 highlights a single signal
trading and trading from the charts.

The platform has scripting, testing, and establishing master consultants
(EAs) components, which mechanizes trading strategies. MT4 has complex charting
more than nine time periods and various chart types. Platform highlights can
expand utilizing add-on applications that created using the MQL4 language.

The trading platform offers numerous request types and risk management
instruments. MT4 platform additionally furnishes its clients with value ready
warnings using SMS, email, and pop-ups.

MetaTrader 5

It is a trading platform that is meant to replace MT4, even though the
previous remains progressively well known. MT5 goes with the majority of the
comparative place features as MT4, notwithstanding extra limits and new
features. It is a moving trading platform suitable for proficient brokers. MT5
is open as a WebTrader, mobile applications for Android and iOS gadgets, and
desktop applications on Windows and MAC OS.

MT5 offers profundity of Market apparatus, which shows the degree of
liquidity accessible in the market. It underpins the utilization of MQL5 to
content module applications and has EAs for computerization of techniques.

One can send multi-cash technique tests to backtest EAs over verifiable
data. MT5 Allows upwards of 100 charts to open all the while.

MT5 offers merchants with complex charts with three chart styles,
displayable more than 21-time spans. The platform contains 38 technical
indicators that can be used by brokers for inside and out investigation. MT5
likewise accompanies the financial schedule and offers value ready warnings
offices to the clients.

NinjaTrader

The NinjaTrader platform
launched in 2004 is intended for dynamic Forex trading. While the platform
offers progressed charting, mechanized technique advancement and exchange
reproduction, the individuals who wish to execute exchanges from their platform
must buy a lifetime permit or rent the platform on a quarterly or yearly
premise.

Besides, NinjaTrader
acts fundamentally as the trading platform and isn’t a market information
supplier. It implies to get end-of-day or ongoing business sector information;
clients need to interface their platform to one of the market information
suppliers.

cTrader Trading Platform

The cTrade is a prominent multi-resource Forex and CFD trading platform.
It offers rich charting instruments, propelled request types, level II valuing,
and quick section and execution. It has a splendid UI supported with modern
backend innovation and is accessible on various gadgets. The cTrade additionally
offers the chance to broker to fabricate algorithmic trading robots to
computerize their trading procedures. One can likewise build up their
application utilizing cTrader’s Open API.

eSignal Trading Platform

The eSignal trading platform centres around cutting-edge dealers that
appreciate completely customizable highlights. The platform offers all the
standard highlights expected of a cutting-edge trading platform. Clients can
make their trading techniques or market screeners through the coding language.

The platform offers pushed drawing instruments, for instance, time and
worth squares and Gann boxes. It gives the capacity to see up to 500 images one
after another. Nonetheless, to get to spilling and continuous information takes
care of, merchants need to associate their platform with one of ESignal’s
bolstered specialists. It implies that clients should rent the platform from
eSignal for a month to month or yearly expense.

ProRealTime Trading
Platform

ProRealTime is a technical analysis and trading software that has
815,422 clients around the world. With ProRealTime, one can exchange 580,985
monetary instruments. The platform is remarkable as it is a web-based software
supported by the organization’s cloud environment.

The platform itself offers a broad scope of cutting-edge charting and
analytical instruments. It provides the capacity to make altered market
scanners and trading procedures utilizing their ProRealCode language.
Notwithstanding, clients must compensate for software permits to use the
platform. On top of this, there are extra charges to get continuous market
information.

MetaStock

The trading software
applications, MetaStock, provides more than 300 technical indicators. The
platform offers work in drawing tools like Fibonacci retracement to complement
technical indicators and incorporated news. It additionally furnishes central
information with screening and sifting rules, and worldwide markets inclusion
over different resources. The MetaStock Daily Charts Subscription and MetaStock
Real Time bundles incorporate its exceptionally adulated stock charts software.

Closing
thoughts

101Investing
provides traders with the Metatrader 4 trading platform.
101Investing is operated by FXBFI Broker
Financial Invest, LTD with registered office at 79, Spyrou Kyprianou Ave., MGO
Protopapas Building, 1st Floor, 3076, Limassol, Cyprus, regulated by CySEC,
license number 315/16. The Company Registration Number is 351508.

Clients can perform a commission-free exchange on more than 250+
CFD instruments covering Forex, cryptocurrencies, commodities, stocks, and indices
from four core types of trading accounts called Silver, Gold, Platinum, and
Pro. The broker likewise offers Islamic swap-free accounts and demo trading
accounts.

The broker provides educational materials such as webinars,
instructional exercises, articles, and courses. One can access the economic
calendar and earnings calendar on the broker’s site.
For bank trade ideas, check out eFX Plus

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Daily Financial News

Don’t Count On JPY Correction; Staying Long GBP/JPY

The path of the potential pace of the JPY decline may still be underestimated by markets, which continue trading the JPY long.

While the 10% USDJPY advance from September lows looks impressive from a momentum point of view, it may no thave been driven by Japan’s institutional investors reducing their hedging ratios or Japan’s household sector reestablishing carry trades.

Instead, investors seemed to have been caught on the wrong foot, concerned about a sudden decline of risk appetite or the incoming US administration being focused on trade issues and not on spending. Spending requires funding and indeed the President-elect Trump’s team appears to be focused on funding. Here are a few examples: Reducing corporate taxation may pave the way for US corporates repatriating some of their USD2.6trn accumulated foreign profits. Cutting bank regulation could increase the risk-absorbing capacity within bank balance sheets. Hence, funding conditions – including for the sovereign – might generally ease. De-regulating the oil sector would help the trade balance, slowing the anticipated increase in the US current account deficit. The US current account deficit presently runs at 2.6% of GDP, which is below worrisome levels. Should the incoming government push for early trade restrictions, reaction (including Asian sovereigns reducing their holdings) could increase US funding costs, which runs against the interest of the Trump team.

Instead of counting on risk aversion to stop the JPY depreciation, we expect nominal yield differentials and the Fed moderately hiking rates to unleash capital outflows from Japan.The yield differential argumenthas become more compelling with the BoJ turning into yield curve managers. Via this policy move, rising inflation rates push JPY real rates and yields lower, which will weaken the JPY. Exhibit 12 shows how much Japan’s labor market conditions have tightened. A minor surge in corporate profitability may now be sufficient, pushing Japan wages up and implicity real yields lower.

JPY dynamics are diametrical to last year . Last year, the JGB’s “exhausted”yield curve left the BoJ without a tool to push real yields low enough to adequately address the weakened nominal GDP outlook. JPY remained artificially high at a time when the US opted for sharply lower real yields. USDJPY had to decline, triggering JPY bullish secondround effects via JPY-based financial institutions increasing their FX hedge ratios and Japan’s retail sector cutting its carry trade exposures. Now the opposite seems to be happening. The managed JGB curve suggests rising inflation expectations are driving Japan’s real yield lower. The Fed reluctantly hiking rates may keep risk appetite supported but increase USD hedging costs.Financial institutions reducinghedge ratios and Japan’s household sector piling back into the carry trade could provide secondround JPY weakening effects

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Daily Financial News

Mexico raises interest rates, cites Trump as risk

The head of Mexico’s central bank says U.S. Republican candidate Donald Trump represents a “hurricane” sized threat to Mexico.

Banco de Mexico Gov. Agustin Carstens told the Radio Formula network Friday that a Trump presidency “would be a hurricane and a particularly intense one if he fulfills what he has been saying in his campaign.”

Trump has proposed building a wall along the border and re-negotiating the North American Free Trade Agreement.

Mexico’s central bank raised its prime lending rate by half a percent to 4.75 percent Thursday, citing “nervousness surrounding the possible consequences of the U.S. elections, whose implications for Mexico could be particularly significant.”

Mexico’s peso had lost about 6 percent in value against the dollar since mid-August. It recovered slightly after the rate hike

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Financial News

Africa’s first Fairtrade certified gold co-operative offers hope to gold miners living in poverty

Syanyonja Artisan Miners’ Alliance (SAMA) has become the first artisanal small scale mining co-operative in Africa to become Fairtrade certified, bringing much needed hope to impoverished communities who risk their lives to mine the rich gold seam that runs around Lake Victoria.

SAMA is one of nine previously informal groups from Uganda, Kenya and Tanzania which has benefitted from a pilot project launched by Fairtrade in 2013. This innovative program aims to extend the benefits of Fairtrade gold to artisanal miners across East Africa.

In that short time, SAMA has undergone training in business and entrepreneurship, as well as safe use of mercury, internal control systems, labour rights and better working conditions, health and safety and more. Previously, daily contact with toxic chemicals used to process gold meant members risked disease, premature births and even death.  Fairtrade gold was first launched in 2011, and SAMA now joins Fairtrade certified gold mines MACDESA, AURELSA and SOTRAMI in Peru.

The co-operative produces just 5 kg gold per year, but nevertheless has the potential to significantly benefit many people in the local community through better conditions through certification. It is expected that Fairtrade and organizations like Cred Jewellery will support the miners, ensuring their gold can be refined and made available to jewellers in the UK and other markets.

Gonzaga Mungai, Gold Manager at Fairtrade Africa said: “This is a truly momentous and historical achievement and the realisation of a dream that is many years in the making. Gold production is an important source of income for people in rural economies. Congratulations to SAMA, it sets a precedent which shows that if groups like this can achieve certification, then it can work for others right across the African continent.”

The Fairtrade Gold Standard encourages better practice and changes to come in line with international regulation around the production and trade of so-called ‘conflict minerals’. Under the Standard, miners are required to:

  • Uphold a human rights policy preventing war crimes, bribery, money laundering and child labour
  • Clearly represent where the minerals were mined
  • Minimise the risks of conflict minerals through robust risk assessments and collaboration across supply chains
  • Report to buyers and trading partners regarding the risks of conflict minerals

Now in its second phase, the programme will focus on supporting other mining groups in the region to access affordable loans and explore a phased approach to accessing the Fairtrade market, allowing more mining co-operatives across Africa to participate in the programme.

Gonzaga added: “Sourcing African metals from smallscale miners in the Great Lakes Region is the responsible thing to do. For a long time companies have avoided buying gold from this region, with devastating consequences for impoverished communities who were already struggling. It has driven trade deeper underground, as unscrupulous buyers pay lower prices and launder illegal gold into legitimate supply chains. That’s why we have chosen to work with these groups to help them earn more from their gold within a robust compliance system that offers social, environmental, and economic protections.”

The Fairtrade gold programme offers a small but scalable solution to sustainable sourcing of gold from the region in line with Section 1502 of the Dodd-Frank Act in the US, OECD Due Diligence Guidance and recent EU Supply-Chain Due Diligence proposals which could come into effect in 2016. This means that up to 880,000 EU firms that use tin, tungsten, tantalum and gold in manufacturing consumer products could be obliged to provide information on steps they have taken to identify and address risks in their supply chains for so-called ‘conflict minerals’.

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