Rupee settles 57 paise higher at 75.09 against US dollar - The Siasat Daily

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Rupee settles 57 paise higher at 75.09 against US dollar - The Siasat Daily

Rupee settles 57 paise higher at 75.09 against US dollar - The Siasat Daily

Posted: 30 Apr 2020 02:53 AM PDT

Mumbai: The Indian rupee surged 57 paise to close at 75.09 (provisional) against the US dollar on Thursday, amid higher domestic equity markets and a weak American currency in the overseas market.

Forex traders said a positive start of domestic stocks supported the local unit. Moreover, investor risk appetite is improving as India could relax restrictions in many areas from May 4.

This is the fourth consecutive day of gain for the rupee, during which it has appreciated by 137 paise.

At the interbank foreign exchange, the rupee opened at 75.17. During the session it touched an intra-day high of 74.94 and a low of 75.20.

The domestic unit finally settled at 75.09, registering a rise of 57 paise over its previous close.

On Wednesday, the local unit had settled at 75.66 against the US dollar.

Traders said fears surrounding COVID-19 faded to some extent after an antiviral drug showed promise in treating coronavirus patients.

"Also, several countries are easing lockdown restrictions which means the economies will start to get back on track," said Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services.

Gupta further said, "there is still risk of a second wave of infection and India's macros are not attractive enough to bring in heavy dollar inflows. Thus, going ahead USD/INR spot may trade above the support of 74.50 towards 75.50/76.00".

Meanwhile, domestic stock exchanges were trading on a positive note with benchmark Sensex trading 830.25 points higher at 33,550.41, and the Nifty up by 248.80 points at 9,802.15.

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.06 per cent down at 99.50.

Brent crude futures rose 7.59 per cent to USD 24.25 per barrel.

Source: PTI

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Best forex trading app of 2020: trade and invest on your Android or iPhone - TechRadar

Posted: 15 Nov 2019 12:00 AM PST

The best forex trading apps have become increasingly accessible through the use of apps for mobile devices, such as smartphones and tablets. 

This is especially useful when, in today's interconnected world, the foreign exchange market plays an important role in daily business. It's a global, decentralized environment where financial institutions and businesses can trade currencies.

What are currency options and how do you trade them? - IG

Posted: 06 Apr 2020 03:04 AM PDT

Essentials of FX options trading

Before trading forex options, there is some essential terminology that you'll need to be familiar with:

  • Strike price – the predetermined price of the options contract that you can either buy or sell the contract for at or before expiry
  • Expiry date – the date at which your options contract will need to be settled, but it can be closed before the expiry date arrives
  • Premium – the fee that the writer receives from the holder for taking on the obligation to buy or sell the underlying
  • Implied volatility (IV) – is a measure of the implied risk in an options contract, relative to the price of the underlying market. Implied volatility will affect the price of an options contract
  • In the money – an options contract is in the money when it can be exercised for a profit
  • At the money – an options contract is at the money when its strike price is the same or similar to the price of the underlying market – meaning it could expire with value, or worthless
  • Out of the money – an options contract is out of the money when it cannot be exercised for a profit

Learn more about options trading

How do currency options work?

There are two types of currency options: calls and puts. Buying a call option gives the holder the right to buy a currency pair for the strike price on or before the expiry date, and buying a put option gives the holder the right to sell a currency pair for the strike price on or before the expiry date.

If the expiry arrives and the market price of a currency pair is above the strike price when buying calls, or below the strike price when buying puts, a trader can choose to exercise it. This means they can buy or sell the currency for a better price than what is currently available in the underlying market.

But if this doesn't happen, a trader can let their option expire, and they'll only lose the value of the premium. As a result, buying call or put options means that a trader's upside is potentially unlimited, and their downside is capped at the premium.

On the other hand, traders can also sell call options and put options – which obliges them to sell a currency pair in the case of a call, and to buy a currency pair in the case of a put. For taking on this obligation, the seller of a call or put option will receive a premium.

If a trader is taking on the obligation to sell an options contract, their losses are potentially unlimited – and profits are capped at the total value of the option premium. When selling options, a trader is hoping that the price of a call option remains below the strike price, and the price of a put option remains above the strike price.

There is more information about the mechanics of buying or selling call and put options below.

Buying or selling call options

  • Buying call options gives a trader the right but not the obligation to buy a currency pair for a predetermined price, at or before a set date in the future
  • Selling call options gives a trader the obligation to sell a currency pair for the predetermined price, if the buyer executes their right to buy – and they'll receive a premium for doing so
  • Buying call options gives unlimited upside with a capped loss, while selling call options gives an unlimited downside and a capped gain – the option premium

Buying or selling put options

  • Buying put options gives a trader the right but not the obligation to sell a currency pair for a predetermined price, at or before a set date in the future
  • Selling put options gives a trader the obligation to buy a currency pair for the predetermined price, if the buyer executes their right to sell – and they'll receive a premium for doing so
  • Buying put options gives unlimited upside with a capped loss, while selling put options gives an unlimited downside and a capped gain – the option premium

An example of the IG options deal ticket can be seen below, with different columns for buying or selling call and put options.

Best Forex Trading App of 2020 for iPhone and Android - Emirates Business 24/7

Posted: 09 Jan 2020 12:00 AM PST

Regal Wallet Banner

forex-trading-app

Invest and Trade on your iPhone or Android

With our ever more globalized economy, foreign currencies and foreign markets play an increasingly important role in domestic affairs. The foreign exchange (Forex) market is valuable because it allows businesses, institutions, and individuals to trade currencies at will.

You might be surprised to learn that Forex trading is the largest financial market, with an estimated $5.3 trillion generated daily. While individual traders are successful with Forex, the landscape is often dominated by large corporations and international banks using automated trading algorithms that function 24/7.

Forex trading also influences non-financial markets through currency exchange and direct investments. If a European company wants to import soybeans from American farmers, the Europeans will need to convert their euros to dollars to complete the transaction. Forex facilitates these transactions.

Forex is one of the most lucrative investment opportunities partially because it is a direct investment in currency. However, it is not for the inexperienced as the speed and technical knowledge required are significant.

In fact, it's nearly impossible to be successful at Forex trading without some software that automates the trading process. In short, successful Forex trading requires a level of speed that is difficult for human beings to achieve, especially as Forex is traded 24 hours a day.

In other words, you NEED software to successfully perform trades even when you're sleeping so that you can take advantage of the best currency trading opportunities. Below, you'll find our top 5 best Forex trading apps for 2020.

Best Apps for Forex Trading in 2020

  1. ForexTime FXTM
  2. ThinkTrader
  3. Stock Trainer
  4. MetaTrader
  5. TD Ameritrade

1. ForexTime FXTM

FXTM-forex-trading-app

At a Glance

  • Forex trading automation
  • Highly regulated
  • Used in 180 countries

Forex time FXTM is probably the most widely used Forex trading platform in the world. Used in more than 180 countries and regulated by top-tier institutions, ForexTime is a safe and flexible choice for the majority of Forex traders. Their trading platform is available on iOS, Android, Windows, and Mac devices.

Its automated tools are powerful enough to be used by professionals yet simple enough to be used by beginners. You can make trades with both fixed and variable spreads, and even use flexible leverage to augment your earning potential. (Be aware that leverage is only offered to experienced traders).

Probably the strongest feature at ForexTime is their rapid execution rates. Execution rates are at the core of Forex trading and refer to the speed with which a trade can be started or completed within the system. The faster the execution rate, the higher the likelihood of you making a trade when it is most profitable.

If you plan on specializing in Forex trading, you will also find ForexTimes' tools for education very useful. You'll also gain access to a series of free trading tools and training from the market research team at ForexTime.

Signing up is simple and straightforward, requiring only verification documents and a transfer of funds before you're able to begin trading. If you've just completed a trade and want to withdraw your money, the company can process that withdrawal request in less than a few minutes.

Download ForexTime Here

2. ThinkTrader

trade-inceptor

At a glance

  • Analysis tools
  • 160 analysis indicators
  • Free Android and iOS apps

If you're an experienced Forex trader and you're looking for advanced tools and analysis, then you should check out ThinkTrader. With 14 advanced chart types, 160 intelligence indicators, drawing tools, advanced analysis tools, Trade Interceptor can help you track and trade the best currencies and stocks 24 hours a day.

ThinkTrader used to only be available on desktops. However, its new mobile software allows you to focus on a single market, split screens for market comparison, or even use the quad-screen feature to keep an eye on multiple markets at a time.

ThinkTrader offers trade data and price alerts for all major cryptocurrencies, Forex trading, precious metals, commodities, and indices. On the side of news data, information from Europe, Asia, and America are all available. Regulated by the FCA in the UK in the ASIC in Australia, ThinkTrader offers a wide variety of built-in trading tools such as intelligence reports, risk scanner, data release alerts, economic calendar, and trading simulator. The app is available on both iOS and Android for free.

Download Trade Interceptor here

3. Stock Trainer

stock-trainer-app

At a glance

  • Demo account
  • Practice app
  • Android only

Profitable Forex trading requires experience, skill, and high-quality software. If you don't quite feel confident enough to take on the big banks, A-Life Software's Stock Trainer is probably for you.

The app is NOT a true Forex trading app meaning that no real currency trades occur. Instead, it is a training app designed to help you gain more experience in the Forex trading environment. The app offers a variety of trading features, including limit and stop-loss orders, the ability to build a full portfolio, investing news, a business magazine, and market history over the past ten years.

Again, Stock Trainer is a virtual trading app that helps you learn how to trade Forex without risking real money. The app is free in the Google Play store, with a paid version that removes ads.

4. MetaTrader

At a glance

  • Interactive charts
  • Analytical instruments
  • Tools and news
  • Many available instruments

Probably the most popular trading app for retail investors, especially on android devices, MetaTrader offers a wide variety of financial instruments for trading. MetaTrader also offers one of the most extensive ranges of trading options available on any mobile device. If you use MetaTrader, you can trade options, futures, indices, Forex, and stocks.

Prices and quotes are monitored using general financial analysis from financial markets. These are then presented in a range of real-time charts that include historical information. If you need more detail than the default chart provides, you can pinch and zoom to interact with the charts.

The analytical and news tools are also professional grade.

Download MetaTrader here

5. TD Ameritrade

At a glance

  • Good for beginners
  • Massive trading platform
  • Trade almost anything
  • Tricky for Forex

TD Ameritrade is one of the highest reviewed and largest trading platforms in the United States. It offers investment vehicles in almost every market imaginable, not just Forex.

This is both one of TD Ameritrade's strengths as well as one of its weaknesses (for Forex traders). If you want a wide-ranging portfolio involving multiple financial instruments, TD Ameritrade could be a good option for you. However, as a dedicated Forex trading platform, the TD Ameritrade interface is a bit "clunky."

Dedicated Forex trading platforms have an advantage over TD Ameritrade in this area. Since they only focus on one type of trading, other Forex traders can streamline their Forex trading experience. As an example, comparing currency pairs – a fundamental task in Forex trading – is surprisingly tricky with TD Ameritrade.

Another point where TD Ameritrade excels is in its educational materials for Forex traders. Many Forex trading platforms do not fully educate their clients about the risks involved in futures and Forex trading. By comparison, TD Ameritrade's library of educational materials for Forex trading is vast, complete, and highly valuable.

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