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South Africans’ 5 Most Popular Forex Brokers – Rekord East

They will look at the minimum deposit amount, leverages, spreads and commissions of each broker. It is important to do the necessary research before choosing a forex broker where you will invest your funds. Here are five forex brokers to kickstart your shortlist of forex brokers.

They will look at the minimum deposit amount, leverages, spreads and commissions of each broker. It is important to do the necessary research before choosing a forex broker where you will invest your funds. Here are five forex brokers to kickstart your shortlist of forex brokers.

1.     Tickmill

Tickmill is regulated by the FSA (Financial Services Authority of Seychelles). Tickmill is recommended for both newbie and experienced traders. Tickmill offers Pro, Classic and VIP live trading accounts. They also offer a demo account where you can experiment the trading platforms and features with virtual money. You have the option to convert any of your live trading accounts into an Islamic account.

Tickmill provides MetaTrader 4 and WebTrader trading platforms. The deposit currencies for a live trading account are USD, EUR, and GBP. The minimum deposit is 100 USD/EUR/GBP. They offer spreads from 0.0 pips and low commission on some of their accounts. Tickmill offers more than 80 trading instruments including forex, bonds, stock indices, oil and precious metals. The overall rating for Tickmill is 8 out of 10.

2.     RoboForex

RoboForex is regulated by CySec in Cyprus and IFSC in Belize. RoboForex can be used by a beginner as well as an advanced trader. RoboForex offers Pro-Standard, Pro-Cent, ECN, Prime, and R Trader live trading accounts. You can first experience the platform with a demo account. You have the option to convert your live trading accounts into an Islamic account.

RoboForex support MetaTrader4, MetaTrader5, cTrader and RTrader trading platforms. Minimum deposit amount is from $10. You can fund your trading wallet with the following currencies: USD, EUR, RUB, CNY, BTC, and GOLD. They offer variable spreads on the various accounts. They have no hidden fees and no commissions on deposits or withdrawals. The overall rating for RoboForex is 9 out of 10.

3.     Exness

Exness is regulated by FCA, Cysec, and SFSA. Exness offers a fantastic environment for all types of traders. Type of live trading accounts that Exness offers are Standard, Raw Spread, Zero, and Pro Accounts. Exness has a demo account where you can familiarise yourself with the trading platform using virtual money. You have the option to convert your live trading account to an Islamic account.

Exness supports MetaTrader4, MetaTrader5, and WebTerminal trading platforms. It requires a minimum deposit from as little as $1. Exness has commission fees on the Raw and Zero account, but no fees on the Standard and Pro accounts. Exness supports USD and EUR as account base currencies. The overall rating for Exness is 8 out of 10.

4.     BD Swiss

BDSwiss is regulated by CySec in Cyprus, FSC in Mauritius, and the NFA in the USA. BDSwiss offers a user-friendly platform for beginners as well as advanced forex traders. Type of live trading accounts on offer are Classic, VIP, and Raw accounts. BDSwiss offers a demo account, allowing you to learn and practice trading strategies. You can convert your Classic or VIP account to an Islamic account.

Trading platforms that you can use are MetaTrader4, MetaTrader5, WebTrader, and Mobile Trader. Minimum deposit from $100. There are applicable fees and commissions charged depending on the account type you select. The base currencies on BDSwiss are USD, EUR, and BDP. The overall rating for BDSwiss is 8 out of 10.

5.     XM

XM is regulated by IFSC, ASIC, CySec, DFSA, and FCA. XM offers a fair-trading environment for all types of forex traders. XM offers 4 main live trading accounts – Micro, Standard, Ultra Low Account and Shares Accounts. You can familiarise yourself and test the trading platform with a demo account before you open a live trading account. Traders following the Sharia laws have the option to convert to a no swap interest Islamic account.

Trading platforms supported by XM are MT4, MT5, and WebTrader. Minimum deposit from $5. No commission on the Micro and Standard trading accounts. It also supports various base currencies. XM’s overall rating is 7 out of 10.

These are just five of the most popular brokers. For a more comprehensive list of forex brokers, you can read about the best Forex Brokers in South Africa. It is important to do thorough research before you decide on what Broker Platform you will invest your funds.

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Industry News

School4Trading Review – How to Spot Possible Forex Broker Fraud

School4trading Review

School4Trading Review – How to Spot Possible Forex Broker Fraud

In this School4trading Review, we will look at the features of the software, as well as the customer support. First, let us look at the interface. The design is simple and easy to navigate. It also provides a chatbot, which helps you to communicate with the broker. The customer service is warm and inviting, which is a hallmark of a good broker. In contrast, a fraudulent broker will use cold and impersonal customer support to lure people in.

Another problem with the system is that the login process is not always intuitive. You may have to retype your password several times to get in. Then, you may experience difficulties withdrawing your funds or accessing your account. In such cases, you might have to wait for days or even weeks before you can withdraw the money you’ve invested. This is not a good sign. It’s better to choose a different trading platform altogether.

If you’re having trouble logging in, you should also check the legitimacy of the broker. Whether the broker is licensed by a reliable regulatory body or closed down, you’ll want to be sure it’s legitimate. If the broker isn’t licensed by the right body, don’t trust him. You shouldn’t waste your time with an inexperienced company. This will only cause you problems in the long run.

The next factor that should be checked is the licensing. A legitimate broker will have a license from a high regulatory body. However, a broker without a license will be unreliable. Moreover, a reliable regulator will take away the license of a scam broker. As a result, a trustworthy School4Broker/Profittrade review should mention fees, account rules, and contract terms. A scam broker will be unable to operate legally.

Secondly, look for warning signs. The broker should be licensed and regulated by a reliable regulatory body. It should be regulated by a high level. If it doesn’t, it’s a scam. Lastly, it should have a website that lets you easily access your account. Moreover, you should not hesitate to check the contact information. If you find any information that seems suspicious, you should reconsider using the broker.

In summary, Forex trading isn’t easy, but it doesn’t have to be complicated. It’s not as difficult as it seems if you’ve heard about the program. You’ll learn everything about the basics and how to become a professional. But if you’re still unsure about whether this program is right for you, don’t hesitate to contact a school4trading’s website.

The most important thing to remember when it comes to Forex trading is that it’s not easy. While it’s important to have a strong background in trading, there are a number of factors that can affect your success. Having a proper plan is vital in the long run, because you will be trading with real money. And, the platform should be reliable. Otherwise, you’ll end up losing a lot of money.

As we’ve mentioned, Forex is not easy. Investing isn’t something you can do in the comfort of your own home. You need a proven system. There are no free trials, so you’ll have to find a way to do it yourself. This isn’t a scam, and it’s a great way to make money without any help. A Forex system can help you learn the intricacies of the market.

Although the process of learning Forex isn’t an easy one, it’s certainly not impossible. Fortunately, there are many people who are willing to take the time to learn how to trade. But, even the most experienced trader needs to be aware of the risks of the market. While Forex trading isn’t easy, it can be done with the right knowledge. The software’s user-friendly interface is key.

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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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