FOREX has long become an open and accessible platform for those willing to make money on currency trading. However some people still have a stereotype that only those can earn on the currency market who are educated in economics, have a lot of experience working in the banking sector and a money-tree. True, it used to be like this but things change as time passes.
Contemporary brokerage companies offer their customers innovative services which allow practically anyone to earn in the FOREX market. For example, the new generation Mill Trade Dealing Centre has something to offer those who have not yet discovered all the opportunities of profit making. Let us find out what kind of situations most often prevent people from earning in FOREX and what they think about it in Mill Trade.
Situation 1: “I would like to trade FOREX but I have neither knowledge nor experience at all”.
Mill Trade answers: “You CAN earn in FOREX! We have done everything so you can get free knowledge and necessary skills”.
Mill Trade Dealing Centre offers its customers a four-level training system using which a beginner can master trading even without leaving his house.
The first level is a quiz on your knowledge of FOREX in order to recognize where you may require further training. The second level is getting acquainted with FOREX-related books. The company has placed books and articles on the foreign-exchange market on its website which are free to access. Novice traders can use those to fill gaps in their knowledge and find out how fundamental analysis is different from technical one, what a pip, spread, leverage are, etc. The third level is practicing on a demo account. This will give you a chance to study the trading terminal, try your hand in trading and work out a trading strategy, and you would not spend a single dollar doing all this. Finally, the fourth level is participation in Mill-contests, where you can compete against other traders in your trade skills.
Besides, there is a forum on the Mill Trade website where novice traders can ask questions to their more skilled colleagues and receive valuable advice. In short, lack of knowledge and skills is not a problem at all. As long as you are eager to solve it!
Situation 2: “I would gladly do trading, if I had a large startup capital”.
Mill Trade answers: “You CAN earn in FOREX! You need no large amounts of money at all. What’s more, in our company you may start from scratch”.
The minimal amount to start trading FOREX with Mill Trade is just $100. Almost anyone can afford to invest such a capital. Besides, the Dealing Centre makes each new client a present – a money bonus of up to 100% of the first deposit amount. E.g. if you have deposited $300, there will be $600 in your account! You may use the bonus of $300 in trading to make your deals more profitable.
Would you like to start from scratch? No problem! Mill-contests are not only a good way to practice in trading but also a great chance to earn! The reward in the Mill-start contest is real money. A winner could receive of up to $500 and then use them as the first deposit.
Situation 3: “I know how to trade FOREX but I cannot find trading conditions that suit me”.
Mill Trade answers: “You CAN earn in FOREX. Our Dealing Centre offers trading conditions which would perfectly suit every trader”.
Mill Trade Dealing Centre was founded by a team of professional traders who know exactly what conditions are necessary to feel comfortable trading in the foreign-exchange market and to make a handsome profit. Having put together all the very best from the world trading practice, we improved it with our own developments and created a new generation FOREX company which offers very profitable trading terms.
In Mill Trade you will find: the lowest spreads, a wide selection of trading instruments, flexible leverage, fast order processing, relevant analytical material and Dow Jones newsfeed. Besides, you can choose between several types of trading accounts and two trading platforms: the world’s most popular MetaTrader4 terminal and ECN-platform cTrader, in which you can use expert trade advisors and scripts for automated trading. This means that with Mill Trade your trading will be the easiest and the most profitable, no matter what trading strategy you choose.
Situation 4: “I’m too busy to trade FOREX. Besides, I don’t like taking risks”.
Mill Trade answers: “You CAN earn in FOREX! You can do it even without spending your time or effort. Take advantage of professional traders’ assistance and receive a profit almost without risks”.
Mill Trade offers a unique investment program Golden 7 participation in which requires just a minimum of $300. Howdoesthisprogramwork? Itisverysimple. Seven world-class experts provide trading signals, and Mill Trade full-time traders use them to trade in FOREX and make a profit for the customers.
The work of a whole team of professional traders makes investments reliable, minimizes the risks and allows investors to receive the highest possible returns (e.g. the June returns under this program were 9.15%). Imagine that now you can be busy doing anything you want, while your money is working for you!
Situation 5: “A lot of my friends could become traders or investors. I guess FOREX suits them more than me”.
Mill Trade answers: “You CAN earn in FOREX! Yes, it suits you too! And you friends will help you here”.
You do not have to be a trader or an investor to make money in FOREX. You could become a Mill Trade affiliate and receive a profit for attracting new customers.
Even if you have never worked in FOREX, then after reading this article you must have seen for yourself that this market offers a whole range of opportunities. So go and tell your friends and colleagues about it, place Mill Trade advertising materials on the Internet and receive a monthly reward from the Dealing Centre!
Mill Trade’s affiliate programs offer three options for collaboration. The Spread program assumes introduction of new traders. An affiliate receives 12% of the spread from each trade deal the attracted customer conducts with Mill Trade. The more active are customers who an affiliate introduces, the higher his profit will be!
Seven to Everyone is a program for attracting investors into the Golden 7 investment program. An affiliate is rewarded with 7% of the monthly profit each investor, attracted by him, makes.
Under the two-level collaboration program you may attract both customers and affiliates. If you bring in more than 3 active affiliates, you will receive 1% of their profit and if you introduce over 12 affiliates, your income will be 3%.
By the way, you do not have to choose only one of these programs. Join all three of them and make a larger profit with no investment at all!
As you can see, nothing can stop you from a financial success in FOREX. With Mill Trade you already have everything to start making money today!
Barclays announces new trade finance platform for corporate clients
Barclays Corporate Banking has today announced that it is working with CGI to implement the CGI Trade360 platform. This new platform will provide an industry leading end-to-end global trade finance solution for Barclays clients in the UK and around the world.
With the CGI Trade360 platform, Barclays will provide clients with greater connectivity and visibility into their supply chains, allowing them to optimise working capital efficiency, funding and risk mitigation. By utilising cloud based functionality for corporate banking clients, Barclays will also be able to offer a leading client user experience through easy access and real-time integration to essential information, combined with the latest trade solutions as the industry-wide shift to digitisation continues to accelerate.
This move underpins Barclays commitment to supporting the trade and working capital needs of their clients and reinforces a commitment to innovation that has been central to the bank for more than 300 years.
James Binns, Global Head of Trade & Working Capital at Barclays, said: “We are delighted to announce our move to the CGI Trade360 platform and to have started the implementation process. We have a longstanding partnership with CGI, and the CGI Trade360 platform will mean we can continue delivering the best possible trade solutions and service to our clients for many years to come.”
Neil Sadler, Senior Vice President, UK Financial Services, at CGI, said: “Having worked closely with Barclays for the last 30 years, we knew we were in an excellent position to enhance their systems. Not only do we have a history with them and understand how they work, but part of the CGI Trade360 solution includes a proof of concept phase, which is essentially seven weeks of meetings and workshops with employees across the globe to guarantee the product’s efficiency and answer all queries. We’re delighted that Barclays chose to continue working with us and look forward to supporting them over the coming years.”
What’s the current deal with commodities trading?
By Sylvain Thieullent, CEO of Horizon Software
The London Metal Exchange (LME) trading ring has been the noisy home of metals traders buying and selling for over a hundred years. It’s the world’s oldest and largest metals market and is home to the last open outcry trading floor. Recently however, the age-old trading ring, though has been closed during the pandemic and, just a few weeks ago, the LME announced that it will remain so for another six months and that it is taking steps to improve its electronic trading. This news fits in with a growing narrative in commodities about a shift to electronic trading that has been bubbling away under the surface.
Something certainly is stirring in commodities. The crisis has affected different raw materials differently: a weakening dollar and rising inflation risks bode well for some commodities with precious metals being very attractive, as seen by gold reaching all-time highs. Oil on the other hand has had a tough year and experienced record lows from the Saudi-Russia pricing war. It has been a turbulent year, and now prices look set to soar. While a recent analyst report from Goldman Sachs predicts a bullish market in commodities for the year ahead, with the firm forecasting that it’s commodities index will surge 28%, led by energy (43%) and precious metals (18%).
Increasingly, therefore, it seems that 2020 is turning out to be a watershed moment for commodities, and it’s likely that the years ahead will bring about significant transformation. And whilst this evolution might have been forced in part by coronavirus, these changes have been building up for some time. Commodities are one of the last assets to embrace electronic trading; FX was the first to take the plunge in the 90s, and since then equities and bonds have integrated technology into their infrastructure, which has steadily become more advanced.
The slow uptake in commodities can be explained by several truths: the volumes are smaller and there is less liquidity, and the instruments are generally less exotic, essentially meaning it has not been essential for them to develop such technology – at least not until now. This means that, for the most part, the technology in commodities trading is a bit outdated. But that is changing. Commodities trading is on the cusp of taking steps towards the levels of sophistication in trading as we see in other asset classes, with automated and algo trading becoming ever prominent.
Yet, as commodities trading institutions are upgrading their systems, they will be beginning to discover the extent of the job at hand. It’s no easy task to upgrade how an entire trading community operates so there’s lots to be done across these massive organisations. It requires a massive technology overhaul, and exchanges and trading firms alike must be cautious in the way they proceed, carefully establishing a holistic, step-by-step implementation strategy, preferably with an agile, V-model approach.
The workflow needs to be upgraded at every stage to ensure a smooth end-to-end trading experience. So, in replacement of the infamous ring, these players will be looking to transform key elements of their trading infrastructure, including re-engineering of matching engines and improving communications with clearing houses.
However, these changes extend beyond technology. For commodities players to make a success of the transformation in their community, exchanges need to have highly skilled technology and change the very culture of trading. All of which is currently being done against a backdrop of lockdown, which makes things much more difficult and can slow down implementation.
What is clear is that coronavirus has definitely acted as a catalyst for a reformation in commodities. It is a foreshadowing of what lies ahead for commodities trading infrastructure because, a few years down the line, commodities trading could well be very different to how it is now, and the trading ring consigned to history.
Afreximbank’s African Commodity Index declines moderately in Q3-2020
African Export-Import Bank (Afreximbank) has released the Afreximbank African Commodity Index (AACI) for Q3-2020. The AACI is a trade-weighted index designed to track the price performance of 13 different commodities of interest to Africa and the Bank on a quarterly basis. In its Q3-2020 reading, the composite index fell marginally by 1% quarter-on-quarter (q/q), mainly on account of a pull-back in the energy sub-index. In comparison, the agricultural commodities sub-index rose to become the top performer in the quarter, outstripping gains in base and precious metals.
The recurrence of adverse commodity terms of trade shocks has been the bane of African economies, and in tracking the movements in commodity prices the AACI highlights areas requiring pre-emptive measures by the Bank, its key stakeholders and policymakers in its member countries, as well as global institutions interested in the African market, to effectively mitigate risks associated with commodity price volatility.
An overview of the AACI for Q3-2020 indicates that on a quarterly basis
- The energy sub-index fell by 8% due largely to a sharp drop in oil prices as Chinese demand waned and Saudi Arabia cut its pricing;
- The agricultural commodities sub-index rose 13% due in part to suboptimal weather conditions in major producing countries. But within that index
- Sugar prices gained on expectations of firm import demand from China and fears that Thailand’s crop could shrink in 2021 following a drought;
- Cocoa futures enjoyed a pre-election premium in Ghana and Côte d’Ivoire, despite the looming risk of bumper harvests in the 2020/21 season and the decline in the price of cocoa butter;
- Cotton rose to its highest level since February 2020 due to the threat of storm Sally on the US cotton harvest, coupled with poor field conditions in the US;
- Coffee rose 10% as La Nina weather conditions in Vietnam, the world’s largest producer of Robusta coffee, raised the possibility of a shortage in exports.
- Base metals sub-index rose 9% due to several factors including ongoing supply concerns for copper in Chile and Peru and strong demand in China, especially as the State Grid boosted spending to improve the power network;
- Precious metals sub-index, the best performer year-to-date, rose 7% in the quarter as the demand for haven bullion continued in the face of persistent economic challenges triggered by COVID-19 and heightening geopolitical tensions. In addition, Gold enjoyed record inflows into gold-backed exchange traded funds (ETFs) which offset major weaknesses in jewellery demand.
Regarding the outlook for commodity prices, the AACI highlights the generally conservative market sentiment with consensus forecasts predicting prices to stay within a tight range in the near term with the exception of Crude oil, Coffee, Crude Palm Oil, Cobalt and Sugar.
Dr Hippolyte Fofack, Chief Economist at Afreximbank, said:
“Commodity prices in Q3-2020 have largely been impacted by COVID-19. The pandemic has exposed global demand shifts that have seen the oil industry incur backlogs and agricultural commodity prices dwindle in the first half of the year. The outlook for 2021 is positive however conservative the markets still are. We hope to see an increase in global demand within Q1 and Q2 – 2021 buoyed by the relaxation of most COVID-19 disruptions and restrictions.’’
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