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HYCM’s Giles Coghlan Unveils What 2020 Holds For Markets | Finance Magnates
HYCM is a globally established forex broker under Henyep Capital Markets Group, a global corporation founded in 1977, operating in Asia, Europe, and the Middle East. Since its conception, HYCM has won over 20 awards including the categories Best Forex Broker and Best Forex Trading Platform.


HYCM is a globally established forex broker under Henyep Capital Markets Group, a global corporation founded in 1977, operating in Asia, Europe, and the Middle East.
Since its conception, HYCM has won over 20 awards including the categories Best Forex Broker and Best Forex Trading Platform.
Giles Coghlan is HYCM’s Chief Currency Analyst and utilises over 10 years of trading experience to help HYCM clients by providing daily market updates, online webinars and workshops, and in-person seminars.
The Most Diverse Audience to Date at FMLS 2020 – Where Finance Meets Innovation
He is also a contributor to major forex and financial media including City A.M., Yahoo Finance, CNBC Arabia and Forbes Middle East.
Today Giles shares his expertise with Finance Magnates and discusses the secrets to the company’s success and what the rest of 2020 potentially holds for the trading industry.
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How has HYCM stayed ahead of the competition with its comprehensive offering for retail traders?
As part of the Henyep Capital Markets Group, HYCM shares over 40 years of Group experience which is quite a lot for the modern forex market.
When the industry opened its doors to retail clients, we were already an established expert in the financial markets; this groundwork is one of our key advantages.
Over these four decades we have covered several milestones, including becoming a member of the Hong Kong Futures Exchange, and our chairman joining the Commodities Exchange of New York (COMEX).
We also have licenses in several jurisdictions including the FCA, CySEC, and DFSA, and have partnered up with leading providers such as Barclays Bank, Eurobank, Moore Stephens and BDO Ltd, part of BDO International, the fifth largest accountancy network in the world.
Henyep Capital Markets Group has businesses in capital markets and securities, direct investments, financial services, property, education, and charity.
So, our clients know they are trading with one of the most solid and secure brokers in the world.
What are the core products HYCM offers to trade, and which of these are the most popular for clients?
HYCM offers over 100 trading instruments including forex, commodities, indices, ETFs* and cryptocurrencies**, exceptional trading conditions, account types for every trading style, cutting-edge technology, and unlike many other brokers, we offer trading on both MT4 and MT5 platforms.
Some of our most-traded instruments are major forex currency pairs such as EUR/USD, GBP/USD, USD/JPY, bitcoin, commodities like oil and gold, and indices such as the US100, US30, US500, HK50, and the GER30.
Of course, it depends on the location and jurisdiction as we operate globally with offices in key financial locations including the UAE, Cyprus, Hong Kong, and our headquarters in London.
It is also worth mentioning that the majority of our traders are experienced traders.
We also work with big investors and institutional clients who select HYCM for its excellence and reputation.
Giles, you are a professional trader yourself. How do you go about sharing your experience with traders?
I have been trading for over 10 years now and am very happy to share my expertise with our clients by providing regular market updates, online webinars and hosting in-person seminars and workshops for advanced traders across the globe.
For instance, every Monday I run a free FX Week Ahead webinar in which we look at the upcoming week while analysing market movements.
Traders will learn how to understand market sentiment and prepare for market-moving events, as well as benefit from a live Q&A session.
Every Wednesday, in the popular Level Up with HYCM workshop we focus on practical exercises and learning the technical side of trading, which does require a demo account to complete the exercises.
How do you see the market responding to the current situation with coronavirus?
We have seen a temporary recovery of equity markets from recent lows due to the extreme levels of government support to prop up their economies.
The Federal Reserve announced virtually unlimited quantitative easing at the height of the crisis and trillions of dollars of rescue packages.
This gov’t response has been repeated across all the major economies and essentially propped up the falling equity markets.
However, I see more downside in stocks in the future as earning levels are released. One area I am looking at is that of previous pandemics, like the great flu pandemic of 1918, and how it came in waves.
If we see a second and third wave of the COVID-19 outbreak I will be looking for a fresh leg lower in stocks and record highs for gold prices.
What does 2020 hold for HYCM? Are there any goals or projects the company has in the pipeline?
This year we have already launched a new product; exchange-traded funds (ETFs) on our MT5 platform, which are currently only available under HYCM Ltd.
We now offer 20 different ETFs including the top three most-traded ETFs: SPDR S&P 500, iShares Russell 2000 Index, and VelocityShares 3x Inverse Crude Oil ETN.
In this era of high volatility including the current situation with coronavirus, ETFs are very desirable as traders are looking for less volatile instruments.
We have also introduced a new referral program*** to reward our clients who invite their friends to register and start trading with HYCM.
It is fully automated and integrated into the HYCM client portal, making it very easy to use and one of the main benefits of the program is that these rewards can be withdrawn.
We are always working on improving our products and technology and looking for ways to thank our active traders for their loyalty and dedication, as well as expanding our offerings to new clients.
* Only available under HYCM Ltd.
** Not available under HYCM (Europe) Ltd.
*** Not available under HYCM (Europe) Ltd.
About HYCM
HYCM is the global brand name of Henyep Capital Markets (UK) Limited, HYCM (Europe) Ltd, Henyep Capital Markets (DIFC) Ltd and HYCM Ltd, all individual entities under Henyep Capital Markets Group, a global corporation founded in 1977, operating in Asia, Europe, and the Middle East.
High Risk Investment Warning: Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high degree of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent expert advice if necessary and speculate only with funds that you can afford to lose. Please think carefully whether such trading suits you, taking into consideration all the relevant circumstances as well as your personal resources. We do not recommend clients posting their entire account balance to meet margin requirements. Clients can minimise their level of exposure by requesting a change in leverage limit. For more information please refer to HYCM’s Risk Disclosure.
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Forex Trading Knowledge Questions and Answers


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Forex Trading Knowledge Questions and Answers
What Is A Demo Account?
Demo accounts enable new investors to test their ideas and learn how to use trading technologies without risk. Users can use the demo account to trade with simulated money and see what their returns would be if they traded with real money. Demo accounts are often used in schools and universities to teach investing and compete in trading competitions.
Demo accounts are commonly used by stock traders, currency exchange traders, and commodities dealers, but not by long-term investors. A demo account is less effective since the longer it takes to produce earnings from an investment, the more time it takes away from compounding real money.
How Does A Demo Account Work?
Using demo accounts, investors can practice trading on a platform without putting their own money at risk. You will not be exposed to the dangers associated with live trading platforms on a demo account. As a result, you can learn how platforms work without putting your money at danger.
A demo account guarantees that you will not lose money, but it also guarantees that you will not make money. To reduce risk when trading on the real market, traders must learn discipline and establish techniques.
How to Open A Demo Account?
In general, opening a demo trading account is pretty simple. Choose a Broker – Most brokers provide demo trading interfaces to help you become acquainted with the features and create techniques. Choose which broker to use initially.
Registration is necessary, and you must provide your personal information. Name, address, and financial information will be requested. Your identification will almost certainly have to be validated as well.
Once you’ve decided on a broker, you can install MetaTrader4. Once you have decided on a broker, you will require a trading platform. MetaTrader 4 and MetaTrader 5 are the most popular trading platforms.
You will obtain login details after registering with a trading program. You will be able to open an account.
How Long Do Demo Accounts Last?
Traders can use a demo account to test out a program for up to three months before deciding whether to purchase the complete edition. The three-month term is basically offered to guarantee that the prospective buyer has enough information to make them desire to buy.
Why Is It Necessary to Open A Demo Account?
Traders can use a demo account to test out a program for up to three months before deciding whether to purchase the complete edition. The three-month term is basically offered to guarantee that the prospective buyer has enough information to make them desire to buy.
What Are Advantages of A Demo Accounts?
Demo accounts are an excellent method to learn about various trading tactics and software. Paper trading is a lot safer way for a beginner investor to make technical mistakes than real trading. Investors can benefit from the customised trading software provided by each firm.
A demo account lets you to test methods without risking any money, whether you are a novice or an experienced trader. Trading on a demo account allows the trader to test the approach before trading with real money.
Even though many traders begin with equities, commodities and Forex can be profitable. The same strategies, however, may not be applicable in all three asset groups. A demo account allows experienced traders to experiment with several asset classes.
The Differences Between Demo & Live Accounts
A forex demo account is distinct from a genuine account in that it is utilised as a training account for traders to practise trading without putting real money at risk. Real accounts, on the other hand, use actual money, and traders put their own money at risk. A demo account enables users to trade with fictitious money in order to imitate the earnings they would receive if they traded with real money. Demo accounts are often used in colleges and institutions to teach investing and compete in trading competitions.
However, studies have shown that even if a person has obtained extensive trading expertise through the use of virtual accounts, things may turn out differently when real money is involved. Because you are not putting anything at risk is more accessible when dealing with virtual money than when trading with actual money.
Can I have Multiple Forex Demo Accounts?
You may be able to open up to five demo accounts depending on the broker. Some, however, provide up to 19 demo accounts. There is no way to predict how many demo accounts are available at any particular time. All brokers do not limit the number of demo accounts.
If your broker has a demo account limit, you can contact their customer service via email or live chat to request more demo accounts.
There are brokers who will only allow you to open one account of each type per email address.
As a result, you are not able to establish any additional accounts until you give them with another email address or open a new account. Traders do not benefit from this practise because it requires them to spend their resources on opening new accounts rather than allowing them to open as many as they like.
In most circumstances, you won’t need more than five accounts, and depending on your plan, one may enough.
In any case, you should practise on a demo account until you are really proficient.
Is A Demo Trading Account Free?
Demo platforms are usually free. There is no risk of losing money because you will not be dealing with real money. As a result, there are no deposits, withdrawals, or training fees involved.
How to Choose Forex Accounts?
Different accounts have different settings. Before you open a trading account, you should answer the following questions:
How much money do you want to put down? You should keep in mind that trading with money you cannot afford to lose is not a good idea.
What is your level of risk tolerance? If you are a cautious trader, you can open a micro account and trade micro-lots. However, if you wish to trade more aggressively, you should open a regular account.
Do you require any specialised equipment? Many forex brokers provide their best trading tools to its professional clients, which may include cutting-edge news analysis or access to a diverse set of indicators.
Once you’ve determined what kind of trader you are, your trading objectives, and your risk tolerance, you’ll be able to choose which account is best for you.
Can I Take Money Out of a Demo Account?
Unfortunately, the answer is no. Demo accounts are only for practise purposes. You do not deposit anything because the account is not funded with real money.
As a result, any profits you would have made would be ineligible for withdrawal.


Forex Trading Knowledge Questions and Answers
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AvaTrade introducing 3 new crypto pairs


AvaTrade introducing 3 new crypto pairs – updating 3 others
AvaTrade has yet again improved their cryptocurrency trading offering.
AvaTrade is introducing three new cryptocurrency pairs: NEOUSD, EOSUSD & MIOTAUSD in addition to the 15 crypto assets already on offer.
These new pairs have been available since July 1st, 2019 and provide an excellent opportunity to diversify your clients’ portfolios and increase their exposure to this vibrant 24/7 market.
Asset | Typical Spread | Leverage | Margin | Min Nominal Trade Size |
NEOUSD | 1.5% Over-market | 2:01 | 50% | 10 |
EOSUSD | 2% Over-market | 2:01 | 50% | 10 |
MIOTAUSD | 1.5% Over-market | 2:01 | 50% | 10 |
To unify their cryptocurrency instrument labels, They are relabeling their existing Ethereum, Ripple & Litecoin instruments, by replacing the existing instruments with new USD labelled ones:
Asset | Old Symbol | New Symbol |
RIPPLE | XRP | XRPUSD |
ETHEREUM | ETH | ETHUSD |
LITECOIN | LTC_Mini | LTCUSD |
These new pairs have also been available since July 1st,
The trading conditions for each one is identical to those of the older respective assets they replace.
Effective immediately, new positions are only available on the new pairs.
Avatrade Clients will not be able to open new positions on the old assets, but those already open will remain unaffected until July 29th.
Existing positions on XRP, ETH and Litecoin-mini that remain open on July 29th will be automatically replaced with corresponding positions on the new pairs, , at the same opening price and at no cost to clients.
as any broker that values their clients would do , Avatrade makes sure that the clients will not be affected by the change.
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Neteller Launches Cryptocurrency Exchange Service


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Neteller Launches Cryptocurrency Exchange Service
Neteller one of the most known Digital fiat currency wallet provider , has started allowing its users to buy, sell, and hold cryptocurrencies including BTC, BCH, ETH, ETC, and LTC.
They do this on the large scale with a pilot in 10 countries and soon another 50 countries to join . They understand that if you do this effort it will only succeed if you can do this on a global scale.
Neteller and Cryptocurrencies
Neteller is a service which is operated by Paysafe Financial Services Ltd.,


paysafe
founded in 1999, Paysafe Financial Services entered the market with the mission to provide an online alternative to the known traditional payment methods.
Most of the traders aiming us now neteller as one of the companies through which we made our deposits and if we had any profits also our withdrawals. A couple of years ago they left the Forex and Binary industry behind since the charge-back issue became just too expensive.
But as any companies knows, if you do not adept you die. The binary option market is all but dead and the Forex industry has moved also into the directions of the cryptocurrencies. thus, neteller understands that this is where the future is.
So Lasts week they announced that they are now offering a wallet with buy and sell cryptocurrency options.
As of today, Neteller users can buy, hold and sell cryptocurrencies via a recognized cryptocurrency exchange including bitcoin, bitcoin cash, ethereum, ethereum classic and litecoin, purchased using any one of 28 fiat currencies available in the Neteller wallet.
It may not seem so exciting but for many users that love this service it actually is. More and more currencies will be added making them an true exchange in the near future.
Now one is able to fund their neteller account through many different means (Mobile, Epay, Paysafecard, local bank deposits, and bitcoin)
We think that will make the threshold for many people, who would want to buy or sell cryptocurrencies, lower. This in return is a good thing for the overall acceptance of the cryptocurrencies in the mainstream of every day life.
Conditions for buying and selling cryptocurrencies through Neteller
The rates offered are somewhat in the lower middle of the current market making them go for the save route. The average market rates on the major cryptocurrency exchanges differ all in all not that much anyways, as this is not the main reason to choose to buy Bitcoin through Neteller
The minimum cryptocurrency purchase or sale amount is “approximately equal to 10 EUR,” the firm clarified, adding that the maximum amount depends on the transaction limits associated with each account.
When You open an account with Neteller you have to choose your default currency. This is of course for most people in accordance on their geographical locations, people in Britain will go for the pound most Europeans go for the euro and pretty much the rest of the work goes for the US Dollar, thou other currencies are available
The fee is 1.5 percent for purchasing and selling cryptocurrencies from wallets with EUR or USD as the default currency.
The fee rises to 3 percent for wallets with other default currencies.
Neteller | Why is this a good move for neteller and one that we should expect from other online Payment providers as well ?
At this moment till last week Neteller users can pay, get paid on thousands of sites, and send money around the world through their system.
The company claims to have “millions of point-of-sale, ATM and online locations” for users to withdraw or spend their cash.
Last July 25, Paysafe ( which as you remember is the company that owns Neteller
We could now see that this was like their test run on this concept.
We do not know the numbers that Skrill produced since they offered this service but it must have been encouraging enough for Paysafe to include their flagship brand in this endevour.
We will see where this leads but we are hopeful that this is the next step in global acceptance to the cryptocurrency revolution. Let me know what you think
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