currency trading
currency trading |
- Sudan's Bashir bans protests, regulates foreign currency trade - Al Jazeera English
- Everything You Need To Know About Forex Leverage Accounts • Benzinga - Benzinga
- In tentative rollout, Zimbabwe banks start trading new currency - Reuters
- British pound rallies on hope of Brexit delay, drags dollar lower - MarketWatch
- Shanghai charges into a bull market after Trump declares delay in tariff increase - CNBC
| Sudan's Bashir bans protests, regulates foreign currency trade - Al Jazeera English Posted: 25 Feb 2019 11:19 AM PST  Sudan's President Omar al-Bashir banned public gatherings and protests in a series of emergency decrees issued on Monday as he faces the most sustained anti-government street unrest of his 30-year rule. In a statement issued by the presidential palace, Bashir also announced a ban on trading or hoarding subsidised fuel products, as well as new regulations on trading and transporting foreign currency and gold. In his decrees, Bashir authorised the public prosecutor to revoke any suspect's immunity should they have it and set up new courts to deal with cases related to the state of emergency. Bashir, who came to power in a 1989 coup, on Friday declared a year-long nationwide state of emergency to rein in the protest campaign. He also dissolved Sudan's federal and provincial governments as part of a major shake-up of his administration. But protests have carried on, with hundreds of demonstrators undeterred on Monday despite riot police firing tear gas at crowds in the capital, Khartoum. "We are challenging the regime and we are not scared of the state of emergency," said protester Erij who gave only her first name for security reasons. "We have only one aim and that is to make the president step down." Later on Monday, protesters also took to the streets in the Khartoum districts of Burri, Shambat and Al-Deim, witnesses said. Burri has become a site of almost daily rallies with protesters blocking streets and burning tyres and tree trunks. Protest organisers, an umbrella group called Alliance for Freedom and Change, called for Monday's "rally to challenge the emergency". Riot police also fired tear gas into the compound of Ahfad University for Women after students staged a sit-in. "Police fired tear gas when some students stepped out of the campus and began chanting slogans, that's when some canisters hit the compound," a witness said. Weeks of protestsProtests first erupted in the town of Atbara on December 19 last year against a government decision to triple the price of bread. They quickly escalated into demonstrations against Bashir's iron-fisted rule as protesters called on him to step down. Officials say 31 people have died in protest-related violence since then, while Human Rights Watch has put the death toll at 51. The 75-year-old leader has remained defiant but has launched top-level changes in his administration. He even sacked his long-time ally and first vice president Bakri Hassan Saleh. On Sunday, he swore in a new prime minister and appointed 16 army officers and two others from the feared National Intelligence and Security Service as governors for Sudan's 18 provinces. Sudan's financial woes have worsened amid a lack of foreign currency since South Sudan became independent in 2011, taking with it the bulk of oil earnings. The resulting shortages in basic goods have fuelled spiralling inflation that has devastated the purchasing power and living standards of ordinary Sudanese, from agricultural labourers to middle-class professionals.  |
| Everything You Need To Know About Forex Leverage Accounts • Benzinga - Benzinga Posted: 26 Feb 2019 09:15 AM PST Featured Broker: FOREX.comFOREX.com is the largest forex broker for US traders. You will get competitive pricing, award-winning customer service, actionable data, and powerful trading platforms to help you make the best possible trades. Forex trading is one of the best ways to invest in the financial markets. Due to high accessibility over the past 15 years, it has gained extreme popularity. Forex is an abbreviation for foreign exchange and refers to an exchange of currency. In other words, you exchange currencies in an attempt to profit from the price difference. Traders use different brokerage agencies to do currency trading and some even trade small amounts like $1,000. If you're interested in using leverage in forex accounts so you can benefit from bigger profit potentials, we've rounded up the best brokers to help you do that. What is Leverage in Forex?Leverage in forex refers to a credit borrow from your broker simply so you have more buying power. Since traders hold trades for a shorter period of time, they expose their capital to small percentage changes and can't make much profit with only their own funds. This is why they use leverage to generate bigger earnings from the same percentage changes. Once you have more buying power, you can boost your gains. Traders actually aim higher with smaller amounts of money when they use leverage. How Do Leverage and Margin Accounts Work?LeverageIn theory, leverage is simple. For example, you might get 50:1 leverage which means you'll generate a profit that's 50 times larger without leverage. However — and this is a big — don't forget that if you aim for a profit that's 50 times larger, it also exposes you to 50 times more risk. In other words, you can profit more, but you can also lose more compared to trading without leverage. MarginMargin means absolutely the same thing but it's expressed differently. Margin is the amount of money you borrow from your broker. If you use 5:1 leverage, for example, you pay 1 unit and the other 4 units come from your broker. These 4 are the margin. You can express margin by percentage. In other words, 20% of the trade size involves your own funds and the other 80% is margin. If you invest $5,000 of your own funds in the trade, you will have a buying power of $5,000 x 5 = $25,000. $5,000 are your own funds and the margin equals the rest: $20,000, or 80% of the whole trade. Margin AccountA margin account is an account which lets you trade on margin — with leverage. Nearly all brokers will let you trade currency on margin. However, you'll need to pay interest on the borrowed funds. The longer you hold the borrowed funds, the higher your margin cost will be. If you're a day trader, your margin cost may not amount to much, but if you're a swing trader or position trader and hold the trades longer, your margin cost can go up to 10% or more. Carefully consider this, as it might cost you a big part of your profit and extend your loss if you have a losing trade. Risk AssessmentIt's possible to limit your risk so you don't completely eat up your account funds. No matter the leverage you utilize, you should never risk more than 2% of your bank in a single trade. Two percent risk per trade requires 50 consecutive losing trades for a full bankruptcy and this is not likely to happen; that's like flipping 50 tails in a row with a coin. Stop-Loss OrderThe stop-loss order is a tool that is available to virtually all forex brokers. You choose an actual level on the chart and when the price reaches that level, it triggers a stop-loss order, which closes your trade no matter what. When you do this, you essentially tell the trading platform, "In case my trade is losing, I want to lose no more than this specified amount." Calculate Your Stop-Loss LevelsLet's say you use the leverage of 50:1 with a $10,000 account. In this case, your total buying power is equal to $10,000 x 50 = $50,000. If you invest 25% of your buying power in each trade, this equals $125,000. If you want to risk no more than 2% of your account in a trade, this equals $10,000 x 0.02 = $200 per trade. Now, calculate the percentage of $200 from $125,000, which you invest in each trade: $200 / $125,000, which equals 0.0016, or 0.16%. This means your stop-loss order should stay at a 0.16% distance from your entry point. If you assume that the EUR/USD will increase, pretend you buy it at 1.1450. If you want to meet the above rules, then you should put your stop-loss order 0.16% below your entry point. Here is the formula to do this:
In other words, your stop-loss order should be at an 18 pips' distance. Where Can You Find High Leverage Forex Accounts?High leverage accounts are available with various trading brokers. You can even find leverage accounts as high as 1,500:1, which is not a healthy way to trade, as your stop-loss order should be extremely tight in order to stick to the 2% rule, maybe less than 1 pip. Your broker will probably not let you have such a tight stop-loss order, and even if it does, the price fluctuation of the most volatile forex pairs will probably trigger the stop every time. If you don't put in a stop-loss order, you can wipe out your account in minutes. A healthy amount of leverage is 50:1. This is actually the maximum leverage a credible U.S. broker will give you due to regulations. In Europe, the regulatory requirements allow you a maximum leverage of 30:1. If you're using higher leverage, you take on higher risk, which should always be done with caution. Here are some high leverage accounts and their providers based on location. FOREX.com CommissionsSpreads start as low as 1 But vary based on trading volume Best For
FOREX.com consistently ranks as one of Benzinga's top forex brokers – and the broker offers a pretty great margin account, too. Here's what you can expect if you open an account with FOREX.com: Maximum leverage:
You can choose between two charging plans: Based on commission: Low spreads plus a flat $5 commission per standard lot Based on spread: Can go as low as 1 pip for EUR/USD. Read Benzinga's full FOREX.com Review TD Ameritrade Commissions$6.95 Best For
TD Ameritrade is one of the best forex brokers. TD Ameritrade gives you the maximum possible leverage for the country based on domestic regulation. Maximum leverage:
You can choose between two charging plans: Based on commission: $0.10 per 1,000 units with a minimum charge of $1 per trade. Based on spread: Can go as low as 1 pip for EUR/USD. TD Ameritrade offers more than 70 forex pairs to its clients. TD Ameritrade's platform is Thinkorswim, an advanced trading solution which includes a rich set of trading tools and high-quality research sources like CNBC. TD Ameritrade also offers a mobile trading solution and a web browser platform which are both more basic. Read Benzinga's full TD Ameritrade Review X-Trade Brokers (XTB) X-Trade BrokersLearn to trade Forex in X-Trade Broker's free online trading academy. Start trading in 1500 global markets today. XTB is a suitable forex trading solution for people outside the U.S., as it doesn't accept U.S. citizens. The broker originated from Poland but it is now based in the U.K., which is where it gets its regulation. Maximum leverage: 30:1 Your forex trading fees with FXB will depend on the account type you choose: Standard account:
Pro account:
You can trade more than 50 forex pairs with XTB. Its own trading platform is xStation 5. The platform runs on a web browser, desktop, mobile devices, and smartwatch. The platform includes high-quality research offerings like statistics, calculators, market analysis, audio feeds, and many others. XTB also supports MetaTrader 4, which is the most popular platform for retail forex trading. AxiTrader (Australia) AxiTraderAxiTrader was founded on a simple idea: to be the broker anyone would want to trade with. Try a free demo account for 30-days with a virtual cash balance of $50,000 Maximum leverage: 400:1 The difference is obvious here compared to the brokers from the U.S. and Europe. You can choose between two account types with AxiTrader: Standard account
Pro account
AxiTrader keeps trading casual and offers the classic MetaTrader 4 platform to its clients. Final ThoughtsLeverage and margin trading are two mutually connected terms, as they both allow you to leverage your buying power. The financial regulators around the world tighten the trading activity more and more to protect clients from uninformed actions with maximum leverage requirements (50:1 in the United States and 30:1 In Europe). If you're looking for the highest leverage possible, search for brokers outside Europe and the U.S. Since Europe also limits leverage, a lot of traders migrated their trading accounts to brokers from Australia, where the max is 400:1 there.  |
| In tentative rollout, Zimbabwe banks start trading new currency - Reuters Posted: 25 Feb 2019 02:44 AM PST HARARE, Feb 25 (Reuters) - Zimbabwe's commercial banks started trading the RTGS dollar on Monday, but authorities offered no indication as to how ordinary citizens would interact with the country's new transitional currency five days after it was introduced. Zimbabwe ditched a dollar peg for its surrogate bond notes and electronic dollars on Wednesday, merging them into the RTGS dollar in an effort to revive a crippled economy and address a cash crunch that has undermined President Emmerson Mnangagwa's efforts attract foreign investment. The central bank sold U.S. dollars to banks at 2.5 RTGS dollars on Friday morning, and on Monday lenders began trading the currency with corporate customers and on an interbank market. There had been indications that ordinary Zimbabweans would be able to buy U.S. dollars with bond notes or electronic dollars from Monday. But a Standard Chartered bank teller in Harare said her branch was not selling dollars to individuals yet, and downtown bank queues were no longer than normal as people made their way to work. Kudakwashe Mukora, an electrician who had just come out of the branch, said: "At the moment we're just shooting in the dark. The government isn't addressing the fundamental issue which is that the black market is in charge." On Monday one U.S. dollar was being sold on the black market for four electronic dollars - which have been locked in individuals' accounts for months due to the chronic cash shortages - compared to 4.20 on Friday, currency traders said. An employee at a Stanbic branch said the bank was offering U.S. dollars to corporate clients at 2.5625 RTGS dollars and buying dollars at 2.4 RTGS. She said the idea was that individuals would be able to buy and sell dollars at a later date, but she wasn't sure when. The central bank has promised a "managed float" of the RTGS - which stands for the real-time gross settlement system banks use to transfer money - but it is not clear how it will control the currency's movements given that it does not have significant foreign exchange reserves. "The big players are holding onto their money, that is what is holding rates at the moment. In the next week or two, it should be clear whether the interbank is working or not," one trader at Harare's Eastgate shopping centre said. Zimbabwe's currency problems date back to the hyperinflation era of post-independence leader Robert Mugabe, who Mnangagwa replaced after an army coup in November 2017. International attitudes to Mnangagwa's government have hardened since a violent security crackdown last summer on post-election protests and on demonstrations last month against a major fuel hike. Reporting by Alexander Winning, Alfonce Mbizwo and MacDonald Dzirutwe; editing by John Stonestreet Our Standards:The Thomson Reuters Trust Principles.  |
| British pound rallies on hope of Brexit delay, drags dollar lower - MarketWatch Posted: 26 Feb 2019 12:33 PM PST  Brexit was the name of the game in Tuesday currency trading, with reports of possible delays to the fast-approaching deadline and a second referendum driving the British pound to its highest level since September at its peak. "There is one story in Europe today and that is Brexit," said Marc Chandler, chief market strategist at Bannockburn Global Forex. The British pound GBPUSD, +0.2188% was the best-performing G-10 currency on Tuesday, initially boosted by reports that Prime Minister Theresa May will rule out a no-deal Brexit in response to the threat of revolt by 15 ministers. Throughout the day, May said a vote on her Brexit deal would be held on March 12, followed — should her deal be rejected again — by a vote on whether Parliament would support a no-deal Brexit on the following day. If that is voted down as well, lawmakers would on March 14 weigh in on extending article 50 beyond March 29. Naeem Aslam, chief market analyst at ThinkMarkets, said May's recent speeches in parliament have amplified uncertainty around her Brexit strategy. "She is changing direction like a revolving door. She has pushed the fate of the country on the cliff edge," he said in emailed comments. Labour Party MP Yvette Cooper, who is bringing a proposal to extend article 50 should no deal be agreed by the middle of next month, said the premier had already conceded much of what her proposal wanted to achieve. Brexit Brief: U.K. politicians given option to delay EU split On Monday, sterling strengthened after the U.K.'s Labour Party announced it would support or bring forth a proposal for a second Brexit referendum. A group of independent members of parliament will bring a motion for Parliament to vote on a second referendum that will be debated in the House of Commons on Wednesday, according to local reports. Don't miss: As Brexit clock runs, the pound is only priced for a 'soft' split Sterling reached multimonth highs against the euro and the dollar on the back of the tumult. It last fetched $1.3272, up from $1.3097 late Monday in New York. At Tuesday's peak of $1.3289, the pound was at its best level since late September, according to Dow Jones Market Data. "We are looking at potential toward $1.34-$.135 on a confirmation of a delay in Brexit," Chandler said. Meanwhile, the euro EURGBP, -0.1164% fetched £0.8587, down 0.9%. Earlier, the pair slipped to a low of £0.8562, at a level not seen since May 2017, according to FactSet data. Against the U.S. dollar, the euro traded at $1.1399, compared with $1.1359 late Monday. As far as the dollar is concerned, traders were watching Federal Reserve Chairman Jerome Powell's semiannual congressional testimony, at which the Fed boss reiterated that the central bank would be patient when it comes to future interest-rate increases. When asked about the politicization of interest rates — President Donald Trump previously criticized Powell's rates policy — the chairman said he was committed to setting policy in a nonpolitical way. Recap: Live blog of Powell testimony before Senate panel The ICE U.S. Dollar Index DXY, -0.06% was last down 0.4% at 96.002, heading lower in light of Powell's steadily dovish message and the strong pound. In economic data, December housing data saw housing starts and the Case-Shiller home price index ease from previous levels, while building permits were roughly flat from the prior number. The consumer confidence index beat expectations in February, at 131.4, versus 124.7 expected. Against the Japanese yen USDJPY, -0.14% the dollar slipped 0.5% to ¥110.50, following a spike to a two-month high on Monday when risk appetite was rising on the back of optimism about U.S.-China trade relations. The yen typically fares well in times of waning appetite for assets perceived as risky because the currency is considered a haven. Want news about Europe delivered to your inbox? Subscribe to MarketWatch's free Europe Daily newsletter. Sign up here.  |
| Shanghai charges into a bull market after Trump declares delay in tariff increase - CNBC Posted: 24 Feb 2019 11:32 PM PST  Major Asian stocks markets closed higher on Monday amid trade optimism after U.S. President Donald Trump announced a postponement of a closely-watched deadline on March 1. Shares in mainland China saw solid gains on the day following the positive developments. The Shanghai composite surged 5.6 percent to 2,961.28 while the Shenzhen component added 5.587 percent to 9,134.58. The Shenzhen composite jumped 5.417 percent to 1,557.27. Those moves took the Shanghai composite into bull market territory, or up at least 20 percent from intraday lows seen in early January. The Shanghai composite fell into a bear market, or down 20 percent from a recent high, in June 2018. Over in Hong Kong, the Hang Seng index rose 0.52 percent in its final hour of trading. Shares of China Construction Bank gained more than 2.1 percent. Hong Kong-listed shares of Chinese network equipment firm ZTE advanced more than 2.3 percent, after leaping 13.9 percent earlier, according to Reuters. Chinese markets in general have posted strong gains so far in 2019, the Shanghai composite, for example, is up more than 18 percent year-to-date and even the smaller CSI300 has jumped more than 20 percent year to date. That surge since the start of 2019 led investment bank UBS to caution investors that the market has gone "a long way ahead of fundamentals." In Japan, the Nikkei 225 advanced 0.48 percent to close at 21,528.23 and the Topix rose 0.71 percent to finish its trading day at 1,620.87. Shares of index heavyweight Fast Retailing, the company behind the Uniqlo chain of apparel stores, gained 0.67 percent. Australia's ASX 200 also added 0.31 percent to close at 6,186.30, while South Korea's Kospi finished its trading day fractionally higher at 2,232.56. The broad MSCI Asia-ex Japan index rose 0.63 percent to 527.85 as of 3:16 p.m. HK/SIN. "As both (the U.S. and Chinese) Presidents said significant progress has been made, the chance for the US and China to reach a deal is getting higher," OCBC Treasury Research said in a morning note. "However, the key to medium term stability hinges on two areas including agreement on China's structural reforms and the enforcement of trade deals." U.S. President Donald Trump announced in a series of posts on Twitter Sunday evening that America is planning to delay a set of additional tariffs on Chinese goods that were due to kick in on March 1. In his posts, Trump cited "substantial progress" in bilateral talks between the world's two largest economies, including intellectual property protection and technology transfer issues. As a result, the president said he would suspend the new levies, however he did not state a new deadline. "President Trump announcing a delay in raising tariffs on Chinese imports has been in the works for some time. The high frequency engagement between Beijing and Washington at a senior level implies that both sides are looking for some form of settlement," Tai Hui, Asia Pacific chief market strategist at J.P. Morgan Asset Management, said in a note. "Moreover, with growing questions over the growth outlook in the U.S., further tariff escalation would add more uncertainty to this concern. Still, there are plenty of long term structural issues for both sides to lock horns over, such as market access and (intellectual property rights) protection," he said. The U.S. president's comments came following extended trade negotiations between officials from Washington and Beijing. Talks had earlier spilled over into the weekend after both sides reported progress in narrowing their differences. Last week, sources familiar with the situation told CNBC that the United States and China are discussing a late March meeting between Trump and Chinese President Xi Jinping in Florida. The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 96.412 after touching highs above 96.9 last week. The Japanese yen, often viewed as a safe-haven currency, traded at 110.66 against the dollar after touching lows above 110.8 last week. The Australian dollar changed hands at $0.7147 after seeing turbulence last week as it swung between highs above $0.720 and lows below $0.710. The offshore Chinese yuan also saw gains, on the back of Trump's announcement, last trading at 6.6936 against the dollar. Its onshore counterpart changed hands at 6.6923 against the greenback. Meanwhile, oil prices shed their earlier gains to see losses in the afternoon of Asian trade as the international benchmark Brent crude futures contract declined 0.18 percent to $67.00 per barrel. The U.S. crude futures contract also fell fractionally to $57.21 per barrel. — Reuters, along with CNBC's Javier E. David and Evelyn Cheng, contributed to this report.  |
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