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Which currency pair is most profitable in forex 2020?  – About Manchester

The foreign exchange market is one of the busiest systems working daily while generating the most substantial amount of revenue in the business world. The foreign exchange market, dubbed as the Forex market, is mostly involved in trade between pairs of currencies of different countries. The forex has risen steadily over the years into a…

The foreign exchange market is one of the busiest systems working daily while generating the most substantial amount of revenue in the business world. The foreign exchange market, dubbed as the Forex market, is mostly involved in trade between pairs of currencies of different countries. The forex has risen steadily over the years into a system that facilitates the exchange currencies globally. The foreign exchange market is a global financial market, which reflects the economic dynamics of the business world.
The choice of which currency pairs to trade is not easy since market has a sheer number of currency pairs. As such this, will leave you overwhelmed, not knowing which currencies to trade. So, to help with this, here is an article on currency pairs with the best returns in the 2020 forex. Also, this article will explain the major Forex currencies and whether they are profitable or not.

What is involved in trading currencies?

Forex trading or – currency trading involves the act of either buying or selling a currency. To engage in this trade, then you’ll need to have all the relevant information on the kind on the currency pair you are trading. In simple words, this information is how much a currency is worth in relation to the currency being purchased. This information is necessary as it defines not only currency pairs but also the type of relationship currencies share.
Currency pairs are quoted as having two currency abbreviations. Say you had a currency pair abbreviated as “EURUSD.” The EUR, in this case, is the base currency, and the US dollar would serve as the counter currency. Currency pairs are often followed exchange rates that show how much the base currency trades for. An example of this is EURUSD 1.20 meaning that a Euro trades for $1.20

What are the 7 major currency pairs?

The United States of America has the strongest dominant currency worldwide since it’s a reserve currency. Also, its domination is brought about by the sheer size of America’s economy. As a result, these factors make the US dollar a preferred currency used to pair along with other currencies. Examples of major currencies include:

• The Euro and the US Dollar (EUR/USD)
• The British Pound and the US Dollar (GBP/USD)
• The US Dollar and Swiss Franc (USD/CHF)
• The US Dollar and the Canadian Dollar (USD/CAD)
• The US dollar and the Japanese Yen (USD/JPY)
• The Australian Dollar and the US Dollar (AUD/USD)
• The New Zealand Dollar and the US Dollar (NZD/USD)

The above currency pairs are not the best currencies to trade. Instead, they are regarded as the ones with superior liquidity and profit margin to trade. Further, the values of the above currencies tend to fluctuate due to reasons like trading volumes between the respective countries.
Aside from trade volume, the above currencies are also associated with countries with financial dominance. As a result, this makes the above pairs the most volatile currencies that exhibit the highest fluctuations. So, does this mean they are the best to trade? Not necessarily, since currency fluctuations can either return a loss or a profit.

Which currency pair is most profitable in Forex?

There are more than 200 currencies worldwide that you can trade. Out of these, there are only a handful of full currencies that can return the highest profits. These include

The EUR/USD

Dubbed as the safe haven of currency exchange is the EUR/USD currency pair. This pair has the highest liquidity and can be easily predicted. This currency pair is sensitive to fundamental factors like the monetary policies of the Us, and the EU central banks. The value of this pair can also be predicted based on
• The economy of both the US and the EU
• Liquid derivatives between the EUR and USD

The USD/JPY

Next in the list is the (USD/JPY). The pair acts as the top currency quote in the Asian world. As such, this makes it a worthy competitor to the previous pair. The USD/JPY ranks second in the liquidity of the foreign exchange market as it accounts for 17% of transactions in the currency market.
Pros of trading the USD/JPY.
• Has high liquidity almost like the (EUR/USD)
• Easy to predict price dynamics by using technical analysis
• The USD/JPY ranks second as volatile currency pair in the market, hence offering a lot of fluctuations.

The GBP/USD

After the USD/JPY quotes are the GBP/USD, the USD/JPY currency pair accounts for about 12% of the world’s traded currencies. The GBP/USD is characterised by unstable prices that are also volatile. As such, this makes it a famous pair for aggressive and strategic traders focused on quick profits. Note that this currency pair is mostly affected by the British economy. Also, it is dependent on the actions of the US federal reserve and the bank of England.

The (AUD USD) and the (USD CAD )

Last in the list is the AUD/USD and the USD/CAD currency pairs. These currencies are correlated with the prices of gold and oil, the dominant producers of oil, and gold.

What are Cross Currency pairs?

Cross-currency pairs are currencies that trade without the US dollar. This includes a long list of currencies like the AUD/NZD and the EUR/AUD. These currencies are susceptible to various factors. Hence it would be wise to back off if you don’t have complex technical analysis.

The Bottom Line

As seen above, the dynamics of the Forex is an exciting subject to study, that has high interest rates that will increase your financial fortunes. As globalisation continues to grow, the fate of these currency pairs are intimately connected. So, be sure to make a proper survey of the Forex before investing a penny in the market.
The Forex exchange is as risky as gambling. As such, one should start virtually on a demo account; this should give you hands-on experience and allow you to identify the best pair that works for you. To do this, open a dummy account and trade on live markets when you are ready. Lastly, once you understand the Forex you could also check out the best time of day to buy cryptocurrency.

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RoboForex adding EOS Cryptocurrency

RoboForex adding EOS Cryptocurrency

RoboForex announced today adding EOS, a cryptocurrency which is now available for trading with the broker on both MT4 and MT5 platforms.

Roboforex added EOS CryptocurrencyCurrently, RoboForex clients have 7 crypto instruments to choose from.

RoboForex keeps expanding its crypto portfolio.

The latest addition is EOSUSD, which is already available to the clients through MT4 and MT5, alongside with six other crypto pairs:

BTCUSD, ETHUSD, BCHUSD, DSHUSD, LTCUSD, and XRPUSD.

The EOSUSD trading conditions are the following:

  • minimum lot size: 100,
  • minimum increment: 0.01,
  • leverage 5:1.

EOS is a cryptocurrency that was introduced in 2017 and is based on blockchain and smart contracts. Its key features are scalability, decentralized apps, and huge throughput (a few million transaction per second).

This is another step towards developing our crypto portfolio.

Our clients do value the flexibility and state of the art technologies we offer them As for us, our mission is meeting their expectations and constantly improving the trading conditions by opening the door to new instruments and opportunities.

says Denis Golomedov, ;Marketing Director at RoboForex.

Roboforex and Cryptocurrency

This Broker has been on the forefront of crypto trading on the Metatrader 4 and Metatrader trading platforms from the beginning and pushing for more and more trad-able assets to be added to their offering .

it took this broker a little bit of time but now that they got them selves into the cryptocurrency trading arena they come to lead the pack. this in combination with their the trading platforms they are offering makes this a broker to take notice of.

as yet there are not enough brokers that offer metatrader 5 and especially one where you are able to trade bitcoin ethereum, litecoin and now also EOS.

About RoboForex

RoboForex is a brokerage company catering to clients from various countries. The broker’s focus is providing the traders with access to its own financial market platforms.

RoboForex Ltd is a licensed company (License No. IFSC/60/271/TS/17).

 

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Local bitcoin Trader Jailed for Money Laundering

Indicted: Local bitcoin Trader Jailed for Money Laundering

Local Bitcoin trader, Theresa Lynn Tetley, also widely known as Bitcoin Maven has been indicted for indulging in illegal bitcoin-for-cash transactions. According to the Central District of California, the LocalBitcoins.com trader has been sentenced to 12 months in prison.

She has also been handed a three-year supervised release and a $20,000 fine. A former real estate investor and stockbroker, the court ordered her to relinquish $292,264.00 in cash, 25 assorted gold bars, and 40 bitcoin.

money launderingTetley pled guilty to one count of operating an unlicensed money exchange business, and another related to money laundering. Her case is the first of its kind in the Central District of California.

Tetley was procedurally supposed to register her business with the Financial Crimes Enforcement Network, an agency of the United States Department of the Treasury.

The agency is responsible for analyzing transactions to curb money laundering and related financial crimes. She also failed to implement standard anti-money laundering protocol, including reporting of certain financial sources as per the requirements of this type of business.

Tetley is said to have traded over $6 million for clients within the United States and charged higher rates as compared to other traders within the LocalBitcoins platform.

Also noted in the court documents was that Theresa Lynn laundered bitcoin for a customer who had been suspected of having acquired the cryptocurrency through illegal activities, including drug sales on the dark web.

She also carried out a bitcoin to cash transaction for an undercover agent who had explicitly declared that his bitcoin was tied to narco-trafficking operations.

According to the report, Tetley’s service was responsible for fueling the growing use of cryptocurrencies to launder money and supported a black market system set up purposely to circumvent the law.

The organizations involved in her investigation included the IRS Criminal Investigation and the Drug Enforcement Administration.

Just One of Many

That said, the government has been committing significant resources to counter the crypto – dark web menace, and earlier this month, a major sting operation was carried out against a major money laundering network. Thirty-five suspects were arrested.

One individual, identified as John Edward Monette, was charged with Conspiracy to Distribute a Controlled Substance. He was also alleged to have carried out numerous bitcoin for cash exchange transactions on the dark web, most of them in 2017 and totaling about $19,000.

Another dark web vendor busted during the operation, Ryan Farace, 34 was indicted for being involved in an alprazolam tablets manufacture and distribution scheme.

He sold the drugs on the dark web, with all transactions being made in bitcoin. Additional digital currency money laundering transactions were made to conceal the sources.

Article Originally Published:

By ELIZABETH GAIL at Coincentral

 

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Why You Need to Get Onboard With Blockchain!

Why You Need to Get Onboard With Blockchain!

Blockchain tech – so revolutionary in nature that some are calling it the “new internet.” It has applications in just about every industry, and has completely altered the way we think about internet security, the processing of information, and the speed of transactions.

Blockchain is the technology that supports the digital currency  or cryptocurrency called Bitcoin –

however this is not what it is really about as it has a far wider scope of applications and is being commercialized in a growing number of areas.

It has generated much interest in technology circles and beyond, because of the new possibilities it opens up in financial services, the public sector and other areas.

According to sites like BitFortune.net, blockchain tech is definitely worth keeping an eye on due to the myriad of benefits it provides.

Blockchain and Bitcoin are not the same thing – Bitcoin is implemented using blockchain technology, but blockchain technology can be used in contexts much wider than Bitcoin or other cryptocurrencies. so when we are talking about the blockchain we are talking about a combination of a number of technologies, these including:

  • Distributed ledgers.
  • The blockchain data structure.
  • Public key cryptography.
  • Consensus mechanisms.

Part of what makes it so exciting is that it is completely open source. As a result, there are already a number of interesting blockchain apps, and the number is growing daily.

The technology is so secure that it is already being used by DARPA to secure military data. Various governments around the world are working on ways to use the tech to protect their own data.
The tech is tamper-proof, and the data stored within it is permanent. It cannot be erased or altered, and this is what makes it so enticing to those needing more secure networks.

But there is more, folks. (Okay, so that sounds a bit like an infomercial, but the benefits are real nonetheless.) Transactions can speed across the network – taking only as much time as it takes for them to be authorized.

The blockchain cannot be described just as a revolution. It is a tsunami-like phenomenon, slowly advancing and gradually enveloping everything along its way by the force of its progression.

William Mougayar

The system runs without the need for an intermediary, and this reduces the time it takes to execute transactions. This, and the unique way that the tech works, means that costs are significantly reduced as well.

What makes it so revolutionary is that the information is spread across every computer within the network. With Bitcoin, that means the data is securely “backed up” over thousands of computers.

Now, it is unlikely that banks will entrust their data to a public network in the same way, but they have been working on creating networks of their own instead.

The potential savings in terms of cost and time are extensive. If you want to learn more about these savings, check out the infographic below.

 

Why You Need to Get Onboard With Blockchain!


Why You Need to Get Onboard With Blockchain!


Visit bitfortune.net . for more interesting Infographics

Guys did an amazing job and was allowed to share.


 

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