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The Advantages of Trading with GCM Forex

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Having commenced its operations with a mission of achieving leadership in particular in the leveraged trading out of all financial intermediation services in Turkish Capital Markets, GCM Menkul Değerler A.Ş. is an award-winning financial intermediary, licensed with its technological infrastructure compliant with world standards, and a paid-up equity of TRY 13.9 million.

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GCM Forex is dedicated to its vision of becoming a global player, operating throughout the world, in Europe, Asia and Middle East in particular. Within the framework of its mission to provide investors information, GCM Forex strives to help create information based investment strategies on part of the investors, achieving optimal benefits, through seminars, training videos and webinars. As the Forex market requires a specific kind of trading experience compared to other markets, services and materials are presented to the investors in a most comprehensible and fluent form at all times, making use of all means provided by applicable technology, with reference to the structure of the market, investor profile, and level of education. In this respect, GCM Forex can be considered as a school of forex, providing trainings for newcomers.

Trading in the Forex market requires knowledge and experience. GCM Forex offers the option of a demo account for its clients, allowing them to get acquainted with the Forex market, and to develop more successful trading strategies. This allows the investor to trade under actual market circumstances with a portfolio of USD 100,000 in virtual cash, engaging in any form of trade actual account owners can engage in, hence gaining trading experience through practice.

In line with its vision of unlimited services, trades that can be done through GCM Forex’s next-generation trading platform are not limited to parities alone. It is possible to trade in a very wide range of currencies, including exotic currencies in addition to major, minor and cross parities. Trading in precious metals such as gold, silver, platinum, as well as in commodities including aluminum and copper, and a multitude of instruments from oil to natural gas is among the possibilities. Furthermore, the trading platform of numerous agricultural products including, but not limited to wheat, sugar, cotton, corn, soy, and coffee is also rich in indices and stocks from global exchanges, CFD and various investment instruments. GCM Forex works with an innovative service perspective, and the will to offer approximately 70 investment instruments with the highest trading volume on a global scale, at the best market conditions available. Regardless of the preferences of the investor, it is possible to find an investment instrument compatible with its revenue and risk expectations. Without any commissions, charges, and regardless of the volume and type of investment on part of the client, to boot!

The Forex market regulations introduced by the Capital Markets Board (CMB) on 31 August, 2011 marks a watershed event for the Turkish Forex markets. After the regulation by CMB, the investors got the chance to trade in a safe and regulated market. Regulation introduced the obligation on part of the financial intermediaries, to obtain licenses, and to keep the clients’ accounts at the Settlement and Custody Bank, in individual client accounts. Moreover, the leverage ratio was limited to 1:100, reducing the susceptibility of the investors in the face of systemic risks.

Thanks to such regulations reflecting the reliability and the strength of the market, the majority of investors who previously traded abroad at high cost levels, without any security, moved their accounts to Turkey. The trades were directed to financial intermediaries licensed by CMB. The Association of Capital Market Intermediary Institutions of Turkey (TSPAKB) data indicates that the trading volume which averaged around TRY 125 billion per month in year 2012 rose to TRY 250 billion in year 2013.

The growth potential of the industry, the positive outlook regarding the macroeconomic indicators, and the confidence in the future of Turkey whet the appetite of foreign Forex firms as well. As of date, 27 financial intermediaries including foreign Forex firms are licensed by CMB as market builders. GCM is among the first intermediaries licensed by CMB, and its trading volume hit a monthly average of 30 billion US Dollars, within a short time frame of 1 year, thanks to the confidence of its clients. Its rise among the peers and the success towards leadership in the business owe much to superior client relations management, high growth performance.

At GCM Forex, the investor is free, can access his/her account anywhere over the internet, and can engage in any transaction of his/her choice. It is possible to access the account using a single password, over his/her choice operating system, computer, iPhone, Android, or Mac OS.

Solution oriented customer representatives, accountants who serve as a bridge between the market and the investor, analysts monitoring the market throughout the day, and experts producing solutions regarding any level of training needs, are elements of the standard set of services it offers. Any investor interested in the market will find himself/herself privileged at GCM Forex.

GCM Forex’s team of specialist analysts disclose their observations regarding the market they monitor closely, with the perspective that greatest strength in the Forex market is achieved through knowledge. Each morning and evening on weekdays, as well as the beginning of each week is the time for the publication of regular reports and analyses. Furthermore, extraordinary developments and opportunities, when such arise, are disclosed in instant analyses, to help the investor develop successful strategies. Investment instruments are monitored on demand, and regular reports are issued, for high trading volume VIP accounts.

As the Forex markets are open for 5 days a week, 24 hours a day, the markets should be monitored continuously. The Forex market is one where the fastest reflexes of the investors are presented in the face of the changes in the global economy. That’s why GCM Forex’s services run continuously for 5 days a week, 24 hours a day. The support team offers assistance on any matter the investor may require, for 24 hours during week days. At GCM Forex, customer satisfaction is maximized.

GCM Forex’s clients themselves set the terms of trading. The investor may either open a standard account, or a premium one. At GCM, the investor can enjoy distinct advantages for each form of trading, and get a unique investment experience. The investor can attend professional training programs, and receive expert opinion regarding the risks and investment strategies.

At the same time, the investor gets the opportunity to open positions with extremely competitive and advantageous spread margins, so as to include all investment instruments. SMS warnings sent and trading signals provided by a team of specialist analysts provide an invaluable set of information. GCM Premium clients are provided this service free of charge. That is why; their positions are always one step ahead.

GCM Forex never compromises on the principles of discipline, confidence, regulations compliance, institutional perspective, and transparency. GCM Forex is licensed for leveraged trading activities. It is also a member of The Association of Capital Market Intermediary Institutions of Turkey, Settlement and Custody Bank Inc., Central Registry Agency, and Turkish Derivatives Exchange. All clients of GCM Forex enjoy the privilege and confidence of trading with an agency audited continuously by CMB.

GCM Forex, with its mission concerning customer satisfaction, employs a strong staff of professionals to offer quality and qualified services through its organizational structure. Its employees have advanced command of capital and derivatives markets, in order to provide most reliable and sophisticated financial data to the clients, as fast as possible, and in an efficient manner. In order to cut the length of the road to high profit margins over the savings of investors, all unnecessary red tape, any communications problems, and any delays are considered as obstacles, and the first priority is to eliminate such obstacles.

GCM offers its clients next generation, user friendly trading platforms, real-time financial analyses, and access to actual market terms with fixed and narrow spreads. It is a major actor of Turkish Capital Markets, thanks to its performance, technology infrastructure meeting global standards, and its young and dynamic team. It believes that the innovations it introduces bring a fresh outlook into Turkish Capital Markets, where minutes, even seconds are critical.

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Euro zone business activity shrank in January as lockdowns hit services

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Euro zone business activity shrank in January as lockdowns hit services 1

By Jonathan Cable

LONDON (Reuters) – Economic activity in the euro zone shrank markedly in January as lockdown restrictions to contain the coronavirus pandemic hit the bloc’s dominant service industry hard, a survey showed.

With hospitality and entertainment venues forced to remain closed across much of the continent the survey highlighted a sharp contraction in the services industry but also showed manufacturing remained strong as factories largely remained open.

IHS Markit’s flash composite PMI, seen as a good guide to economic health, fell further below the 50 mark separating growth from contraction to 47.5 in January from December’s 49.1. A Reuters poll had predicted a fall to 47.6.

“A double-dip recession for the euro zone economy is looking increasingly inevitable as tighter COVID-19 restrictions took a further toll on businesses in January,” said Chris Williamson, chief business economist at IHS Markit.

“Some encouragement comes from the downturn being less severe than in the spring of last year, reflecting the ongoing relative resilience of manufacturing, rising demand for exported goods and the lockdown measures having been less stringent on average than last year.”

The bloc’s economy was expected to grow 0.6% this quarter, a Reuters poll showed earlier this week, and will return to its pre-COVID-19 level within two years on hopes the rollout of vaccines will allow a return to some form of normality. [ECILT/EU]

A PMI covering the bloc’s dominant service industry dropped to 45.0 from 46.4, exceeding expectations in a Reuters poll that had predicted a steeper fall to 44.5 and still a long way from historic lows at the start of the pandemic.

With activity still in decline and restrictions likely to be in place for some time yet, services firms were forced to chop their charges. The output price index fell to 46.9 from 48.4, its lowest reading since June.

That will be disappointing for policymakers at the European Central Bank – who on Thursday left policy unchanged – as uncomfortably low inflation has been a thorn in the ECB’s side for years.

Factory activity remained strong and the manufacturing PMI held well above breakeven at 54.7, albeit weaker than December’s 55.2. The Reuters poll had predicted a drop to 54.5.

An index measuring output which feeds into the composite PMI fell to 54.5 from 56.3.

But despite strong demand factories again cut headcount, as they have every month since May 2019. The employment index fell to 48.9 from 49.2.

As immunisation programmes are being ramped up after a slow start in Europe optimism about the coming year remained strong. The composite future output index dipped to 63.6 from December’s near three-year high of 64.5.

“The roll out of vaccines has meanwhile helped sustain a strong degree of confidence about prospects for the year ahead, though the recent rise in virus case numbers has caused some pull-back in optimism,” Williamson said.

(Reporting by Jonathan Cable; Editing by Toby Chopra)

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Volkswagen’s profit halves, but deliveries recovering

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Volkswagen's profit halves, but deliveries recovering 2

BERLIN (Reuters) – Volkswagen reported a nearly 50% drop in its 2020 adjusted operating profit on Friday but said car deliveries had recovered strongly in the fourth quarter, lifting its shares.

The world’s largest carmaker said full-year operating profit, excluding costs related to its diesel emissions scandal, came in at 10 billion euros ($12.2 billion), compared with 19.3 billion in 2019.

Net cash flow at its automotive division was around 6 billion euros and car deliveries picked up towards the end of the year, the German group said in a statement.

“The deliveries to customers of the Volkswagen Group continued to recover strongly in the fourth quarter and even exceeded the deliveries of the third quarter 2020,” it said.

Volkswagen’s shares, which had been down as much as 2%, turned positive and were up 1.5% at 164.32 euros by 1158 GMT.

Sales at the automaker rose 1.7% in December, at a time when new car registrations in Europe dropped nearly 4%, data from the European Automobile Manufacturers’ Association showed.

Like its rivals, Volkswagen is facing several challenges due to the coronavirus pandemic as well as a global shortage of chips needed for production.

It also sees tough competition in developing electrified and self-driving cars. The merger of Fiat Chrysler and Peugeot-owner PSA to create the world’s fourth-biggest automaker Stellantis adds to the pressure.

Volkswagen said on Thursday it missed EU targets on carbon dioxide (CO2) emissions from its passenger car fleet last year and faces a fine of more than 100 million euros.

The group is expected to release detailed 2020 figures on March 16.

($1 = 0.8215 euros)

(Reporting by Kirsti Knolle; Editing by Maria Sheahan and Mark Potter)

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Global chip shortage hits China’s bitcoin mining sector

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Global chip shortage hits China's bitcoin mining sector 3

By Samuel Shen and Alun John

SHANGHAI/HONG KONG (Reuters) – A global chip shortage is choking the production of machines used to “mine” bitcoin, a sector dominated by China, sending prices of the computer equipment soaring as a surge in the cryptocurrency drives demand.

The scramble is pricing out smaller miners and accelerating an industry consolidation that could see deep-pocketed players, many outside China, profit from the bitcoin bull run.

Bitcoin mining is closely watched by traders and users of the world’s largest cryptocurrency, as the amount of bitcoin they make and sell into the market affects its supply and price.

Trading around $32,000 on Friday, bitcoin is down 20% from the record highs it struck two weeks ago but still up some 700% from its March low of $3,850.

“There are not enough chips to support the production of mining rigs,” said Alex Ao, vice president of Innosilicon, a chip designer and major provider of mining equipment.

Bitcoin miners use increasingly powerful, specially-designed computer equipment, or rigs, to verify bitcoin transactions in a process which produces newly minted bitcoins.

Taiwan Semiconductor Manufacturing Co and Samsung Electronics Co, the main producers of specially designed chips used in mining rigs, would also prioritise supplies to sectors such as consumer electronics, whose chip demand is seen as more stable, Ao said.

The global chip shortage is disrupting production across a global array of products, including automobiles, laptops and mobile phones. [L1N2JP2MY]

Mining’s profitability depends on bitcoin’s price, the cost of the electricity used to power the rig, the rig’s efficiency, and how much computing power is needed to mine a bitcoin.

Demand for rigs has boomed as bitcoin prices soared, said Gordon Chen, co-founder of cryptocurrency asset manager and miner GMR.

“When gold prices jump, you need more shovels. When milk prices rise, you want more cows.”

CONSOLIDATION

Lei Tong, managing director of financial services at Babel Finance, which lends to miners, said that “almost all major miners are scouring the market for rigs, and they are willing to pay high prices for second-hand machines.”

“Purchase volumes from North America have been huge, squeezing supply in China,” he said, adding that many miners are placing orders for products that can only be delivered in August and September.

Most of the products of Bitmain, one of the biggest rig makers in China, are sold out, according the company’s website.

A sales manager at Jiangsu Haifanxin Technology, a rig merchant, said prices on the second-hand market have jumped 50% to 60% over the past year, while prices of new equipment more than doubled. High-end, second-hand mining machines were quoted around $5,000.

“It’s natural if you look at how much bitcoin has risen,” said the manager, who identified himself on by his surname Li.

The cryptocurrency surge is affecting who is able to mine.

The increasing cost of investment is eliminating smaller players, said Raymond Yuan, founder of Atlas Mining, which owns one of China’s biggest mining business.

“Institutional investors benefit from both large scale and proficiency in management whereas retail investors who couldn’t keep up will be weeded out,” said Yuan, whose company has invested over $500 million in cryptocurrency mining and plans to keep investing heavily.

Many of the larger players growing their mining operations are based outside of China, often in North America and the Middle East, said Wayne Zhao, chief operating officer of crypto research company TokenInsight.

“China used to have low electricity costs as one core advantage, but as the bitcoin price rises now, that has gone,” he said.

Zhao said that while previously bitcoin mining in China used to account for as much as 80% of the world’s total, it now accounted for around 50%.

(Reporting by Samuel Shen and Alun John; Editing by Vidya Ranganathan and William Mallard)

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