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How to Navigate the Fast-Paced Forex Market

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lubomir kanet

A Conversation with Lubomir Kaneti, Chief Operating Officer at Forex broker, FXDD

As the largest and one of the fastest-growing asset classes worldwide, retail Forex is gaining the attention of traders internationally. With more than two decades in the industry, FXDD’s Lubomir Kaneti is passionate about the $4 trillion foreign exchange marketplace. lubomir kanet

As the chief operating officer at FXDD, Kaneti has first-hand insight into the rapidly growing asset class, and sees innovations in technology and education as being the main drivers of success for retail currency traders. In managing operations and strategic growth for the burgeoning Forex firm, he believes FXDD’s forward-looking and unique approach to customer service and trading technology helps its clients traverse the fast-paced global currency market.

Mr. Kaneti offers his tips for successfully navigating the evolving retail Forex market.

What advice do you have for someone who is entering the Forex market?

Knowledge is power! Success in currency trading, as in any endeavour, is based on building the right foundation and using the proper tools to guide you toward your goal as a trader. The tools that every successful trader employs, regardless of asset class, are: knowledge, practice and a smart plan of action. Forex trading is no exception to this rule.

There are many variables to consider and numerous things to learn and perfect before trading with your own capital. Because of this, FXDD offers free demo accounts and tools that help traders best position themselves for success, including daily market commentary, educational courses and free webinars. In addition to these tools, FXDD sponsors ForexLive.com – a free news and analysis site – where traders can stay current on the latest economic events, ask questions and interact with other like-minded traders.

What are some of the tenets of foreign exchange that make it so unique compared to other asset classes?

Similar to other financial instruments, Forex presents traders and investors with a market where they can buy or sell an investment product. In the case of Forex, the product is a specific currency pair. This may be the U.S. dollar versus the Japanese yen, the euro versus the U.S. dollar, the British pound versus the U.S. dollar, or a number of other currency combinations.

There are many attributes that make the foreign exchange market attractive to traders around the world. These include, but are not limited to:

  • Deeper Liquidity
    With a daily trading volume that is 50 times larger than the New York Stock Exchange, there are always brokers/dealers willing to buy or sell currencies in the Forex markets. The liquidity of this market, especially that of the major currencies, helps ensure price stability. Traders can almost always open or close a position at a fair market price. Because of the lower trade volume, investors in the stock market are more vulnerable to liquidity risk, which results in a wider dealing spread or larger price movements in response to any relatively large transaction.
  • Leverage
    50:1 leverage, which substantially exceeds the common 2:1 margin offered by equity brokers, is commonly available though online Forex dealers. At 50:1, traders post a $2,000 margin for a $100,000 position, or 2%.
    This leverage can work against you, as well as for you, so it’s very important to set up your risk parameters before executing trades with real capital.
  • Lower Transaction Costs
    It is much more cost efficient to trade Forex. Most Forex brokers offer traders access to all relevant market information and trading tools as part of their free services. In contrast, commissions for stock trades range from $7.95–$29.95 per trade with online discount brokers and up to $100 or more per trade with full-service brokers. Another important point to consider is the width of the bid/ask spread. Regardless of deal size, Forex dealing spreads are normally 5 pips or less (a pip is .0005 US cents). In general, the width of the spread in a forex transaction is less than 1/10 that of a stock transaction, which could include a .125 (1/8) wide spread.
  • 24-hour Trading
    Forex is a true 24-hour market. Whether it’s 6 pm or 6 am, somewhere in the world there are always buyers and sellers actively trading foreign currencies. Traders can always respond to breaking news immediately.

Foreign exchange is one of the fastest growing markets for retail traders. In your opinion, where do you think the industry is headed next?

FXDD has clients around the globe, and we can say with certainty that growth in the Forex market isn’t slowing anytime soon.

There are many catalysts for this type of exponential growth, but I believe one of the main reasons is the access to information available to the retail trader that wasn’t there, 10 or even five years ago. Today, many more retail traders are getting involved in Forex because they now have the information to plan and make smart, informed trades more rapidly. This trend is sure to continue because Forex is a market that can be traded efficiently in any economic climate.  There is equal upside opportunity in an economic boom as there is during a recession.

FXDD received “Most Trusted Forex Broker Europe 2012” and “Best New Platform 2012” from Global Banking & Finance Review. Why do you think clients choose FXDD?

At FXDD, we provide our clients with the level of service and personal attention they deserve.
We do this in many ways – though our respectful and helpful customer service, as well as the tools and analysis we provide – including free Forex education, stable and easy to use platforms and excellent daily commentary. This – in addition to consistently tight spreads, quick deposits, smooth withdrawals, easy to follow daily trade activity, and a very simple order system – is what makes us unique.

We also continue to invest heavily in producing great educational content and developing state-of-the-art trading platforms. These assets help our clients develop successful trading strategies and enable them to execute those strategies quickly and effectively. We have found that this holistic approach to the customer experience improves performance and helps traders navigate the markets in the smartest, fastest, way possible.

Disclaimer: Forex is risky and not suitable for all investors. Only trade with discretionary funds. Past performance is not indicative of future results.

Interviews

Q&A with Clare George-Hilley, co-founder, Centropy PR

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Q&A with Clare George-Hilley, co-founder, Centropy PR 1

Clare George-Hilley is the co-founder of Centropy PR

Global Banking and Finance Magazine recently caught up with Clare George-Hilley, co-founder of fintech and financial services specialist PR agency Centropy, as the company toasts to three years of trading. We asked Clare about what life is like running an agency in the city, the trends she is seeing in the financial services space and what the future holds following the Covid-19 outbreak.

Why did you decide to set up Centropy PR?

I was looking for an opportunity to launch my own agency, both my husband and I had been in the public affairs and public relations industry for over a decade and we thought the time was right to go out on our own.

Clare George-Hilley

Clare George-Hilley

We could see that the financial services industry was surging, with challenger brands and new technology transforming traditional banks and setting new standards of customer service. There was a huge market opportunity to create and launch a PR agency that could provider first class comms support, alongside a deep understanding of complex regulations such as AML, KYC, and the GDPR. Likewise, many traditional technology firms are diversifying their offerings, to tap into the growing market opportunity posed by the fintech boom.

So, we worked on a business plan, designed a strategy for winning clients and officially launched in September 2017. Within a few months we had a growing portfolio of clients and a thriving business, since that point, we have never looked back!

How is Centropy doing now and what are you plans for growth?

The last three years have flown by and our client portfolio has grown and diversified quickly. We now manage PR campaigns for clients on everything from cryptocurrency, wealth management to payments and trading software.

We’ve also hosted parliamentary debates with key industry figures, including Members of Parliament (MPs) on topics such as the future of the financial services industry and the impact of challenger banks on traditional providers. The team is expanding quickly and we’re investing heavily in the latest training and support to ensure our team members are equipped to reach their full potential.

How do you see the next 12 months?

The Covid-19 outbreak has crippled the economy, forcing millions of people to work from home due to the very serious health risks. The knock-on effect of this crisis will lead to companies cutting costs where possible to save jobs, so tech will play a vital role in ensuring many businesses stay afloat.

We are already working with contactless payments specialists and other fintech companies that offer solutions to help companies survive and thrive despite the inevitable challenges ahead.

We aim to continue building our portfolio of expertise, testing ourselves with new challenges and delivering the best possible service to clients

 

This is a Sponsored Feature.

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Lessons from past recessions and advice for business owners during the coronavirus pandemic

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Lessons from past recessions and advice for business owners during the coronavirus pandemic 2

By Neil Davis, managing director and co-founder of Sterling Networks

What is Sterling Networks?

Sterling Networks is a professional organisation founded in 2014 which facilitates networking events for businesses across the Midlands, Oxfordshire, Wiltshire and the South West. Over 300 members attend our fortnightly breakfast and lunchtime meetings.”

What is your background prior to establishing Sterling Networks?

“During the 1990s, I worked in the corporate team for Halifax. My wife, Tracey, and I went onto own a manufacturing business, which was also called Sterling, and produced a range of gifts, merchandise and promotional items.

“We soon realised tradeshows were a great way to meet distributors and clients. From there, the business grew exponentially, and we managed to build a network of around 500 distributors. Eventually, we became ground down by the manufacturing business – in part because the local manufacturing sector was being devastated by competition from China – and took the decision to sell the business and relocate to Spain.

“After spending several years living abroad, we moved back to the UK to set up Sterling Integrity (EXPO’S) & Sterling Networks (Networking) We were inspired by a desire to help businesses make meaningful connections with one another, and we haven’t looked back since.”

The UK has recently entered a recession, brought about by the coronavirus pandemic. What have you learned from past recessions and how are these experiences helping you to navigate the current crisis?

“I’ve lived through a number of recessions and have seen the pain that insolvency causes companies on a large scale. It’s taught me that there are those who win and sadly those who lose, and that businesses must adapt to a rise in demand for certain products or services at a time of financial crisis.

“Given the nature of what Sterling Networks offers [an opportunity for business owners to connect and grow together] I decided we could build upon the brand due to the demand for new business during the pandemic. We therefore moved our networking events from face-to-face to virtual via tools like Zoom and have gained a steady stream of new members in recent months, reaching an overall total of well over 300.

“On top of that, we’ve taken new staff on during the crisis and have launched a number of new regional groups across the country. I was determined that Sterling should come out of the pandemic with a head start, so my attitude to the recession has been much more positive than those who are forecasting nothing but doom and gloom.

“We can’t pretend high street retail wasn’t suffering long before the pandemic came along, and thousands of new businesses are sure to start up to meet the demand for the products and services that people require at a time such as this. In order to develop and grow businesses need to focus on where changes need to be made to meet this demand.”

Sterling Networks has been providing emotional support to its members throughout the pandemic. What advice have you been giving to members that could be useful to other business owners?

“I try not to be too opinionated and respect other people’s views when giving advice to members, as there are always two sides to every circumstance. I’ve been careful not to say to people that they should be doing one thing or another, as I don’t know their business and its needs quite like they do. The only thing that I have been telling members is the importance of setting up one-to-ones with one another. By doing so, they can listen to the needs and concerns of other, like-minded business owners and work out ways that they might be able to help one another.

“The pandemic has meant we all have a bit more time on our hands, so the advice I would give to people is to use this extra time wisely. Not having to travel physically from one meeting to another means there is a greater opportunity to connect with more people. It’s important to remember that individuals outside of your business can be just as valuable as those within it.”

What makes you hopeful for the future and are there any words of encouragement you can give to budding entrepreneurs?

“The key events that have happened to this country during my lifetime – whether wars, recessions, or the pandemic – have enabled me to take stock of things. While these experiences are certainly challenging, we all become stronger for living through them, and it gives me great confidence that the world will ultimately improve as a result of the pandemic.

“The whole world is effectively rebooting right now, as is the business community. I like to think entrepreneurs will recognise this opportunity to take better care of their peers, and this translates to greater collaboration between organisations. Speak to as many people as you can, ask all the questions that you need to and do your homework. This might well be a difficult time for us all but planning for the future must start now if it is to become as prosperous as I know it can be.”

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Interviews

Exclusive Interview with Ugo Loser, CEO of ARCA Fondi SGR

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Ugo Loser, CEO of ARCA Fondi SGR

 Arca Fondi SGR is a mid-sized Italian active asset management company. Founded in 1983 by a consortium made up of 12 regional banks, the company has grown in time, expanding its network of distributors and its client base. Nowadays Arca manages Mutual Funds, Pension Funds and Institutional Accounts with total AUM exceeding 30 € bln, reaching more than 100 banks and financial institutions and serving more than 800,000 final clients.

What are the key contributors to ARCA Fondi SGR’s success over the past 35 years?

Arca has always put clients and distributors first. That is to say we have always privileged fair pricing for funds and developing high quality products and services for our customers. This requires constant innovation as an objective and looking for people’s talent to be free to produce its effect

Why are people the founding element of ARCA Fondi SGR and how have you sustained this vision over the years?

We work in small teams, people are young and motivated and can perform duties with a high level of autonomy and responsibility. Innovation is asked to everyone, everyday

What makes Arca Fondi SGR different from other asset management firms in Italy?

Arca is a company focused on doing what it can do very well, that is to say mutual and pension funds, services for clients and banks. We never follow short term trends but always look for long lasting impact on the industry, like we’ve done may times in the past

What products/services has ARCA Fondi SGR pioneered?

Arca has been the inventor of “Arca Cedola”, fixed-horizon, coupon paying funds, which have been with no doubt the greatest product innovation of the past 12 years on the Italian market. This type of funds, at first strictly based on bonds and later as a balanced product, has encountered an enormous success both with clients and distributors due to its simple and effective value proposition. Arca is a market leader also in the “PIR” segment of funds, a range of product focused on mid and small sized companies, that have been the best performers in the Italian stock market for the last few years. In services, Arca is a leader in technology applied to asset management. Our website, app and digital services for clients and banks are award winning, state of the art combination of data, technology and channels, and the best is yet to come on this side.

What strategies do you have in place to sustain your market position and withstand professional competition in the country?

As I mentioned, we do not waste resources on projects with dubious results, instead we constantly invest on people, products and services. The high level of profitability that Arca has been able to maintain even in difficult years for the markets of the banking sector is a further testimony that this strategy works very well

How do you use technology to create meaningful experiences for your customers?

First of all, we have created a whole new division, Arca InnovAction Lab, dedicated to technology, data and processes. This ensures projects are delivered quickly and they are free to leave bad past practices behind. Arcaonline.it, Arca’s website, provides distributors with detailed information on clients’ portfolios, asset under management and subscription/redemption requests. It monitors aggregate selling data offering to our partners a suite functions and analytics to track commercial campaigns. And if the banks branches need assistance, they may ask Sara, our digital chatbot. A broad and timely multimedia production, covering exclusive reports, comments, presentations, videos, webinars and newsletters is also available on the website.

Customers, subscribing Arca’s funds through its distributors’ network, may access Arcaclick, a dedicated area on Arcaonline.it. With Arcaclick the client can easily browse through her portfolio of funds, analyze its characteristics, view transactions and historical funds’ performance in customizable views. Arcaclick is also a powerful source of information on Arca product range: Prospectus, KIIDs and other literature is easily accessible along with news, comments and reports. Arcaclick may also be accessed via Arca Fondi App, a free application for mobiles and tables, running on both iOS and Android. Available 24/7 and in mobility, Arcaclick gives clients the opportunity access information, news and details of their personal portfolio anytime and anywhere.

What key trends will drive pension growth in 2020 and beyond?

The Italian market for pension funds is still very small and therefore there is a great opportunity to grow. Arca Fondi manages the biggest open ended Italian pension fund and it’s been constantly at the top of its rankings. As people and workers are looking for yield and to weather short term volatility, the pension fund is very well poised to profit from this trend.

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