The foreign exchange market is currently the most liquid and largest financial market in the entire world. On average, Forex produces 4 trillion USD of daily trading volume. If you’re keen on trading foreign currencies and you want to engage in the liquid trade, you should be able to find a broker that you can trust to keep up with the latest trends and the newest trading techniques available.
To get you started, check the top performing companies and read the review, while comparing potential options, weighing pros and cons, and asking yourself, “What’s in it for me?” One recommended option is an Australian platform that uses higher-ranking technology that allows traders to savor up-to-date tools while having lower spreads and faster performance.
Leading brokers like IC Markets open up opportunities as it’s the world’s largest ECN or electronics communications network broker where you can find various liquidity providers.
There are new trends and groundbreaking developments created this 2019, so make sure to look out for the following:
1. More companies putting in mobile trading apps
Almost everywhere you look, you find people holding onto their smartphones. Unlike desktops, smartphones allow access to an array of information on the internet. From blogs, social media, and any data that provides practical and educational information, smartphones open up a world where everything is just one click away.
Trading applications are considered to be better options than doing trade through web browsers. These programs are slowly integrating into mobile devices because more people are dependent on their smartphones on a daily basis. Platforms like IC Markets cTrader mobile apps are constantly improving to accommodate new and tenured traders alike.
Many companies have already invested in the creation of mobile apps with a user-friendly interface to give access to anyone with a smartphone. They can experience what it’s like to be a trader in all areas, especially cryptocurrencies, enabling them to make deals and trade whenever and wherever they may be.
2. US Dollar is still dominant
The US economy continues to be comparatively healthy, which allowed for the increased rate of currency last year. This is a heads up that there may be no rate hikes as the new year starts to maintain the consistent flow of revenue due to the Federal Reserve Policy. That’s why experts say that the US dollar still prevails to be the benchmark when comparing value and currency rates in 2019.
Given the fact that 2019 is a year where new apps and software allow traders to be active in the market, there is still a chance that the US dollar may lower by 2020.
There’s no need to worry even if the fate of the US dollar as the benchmark is 50-50. As USD will probably be stable this year, now is the time to engage in the market, since there’s no better year to start other than 2019. There are innovative platforms and supplemental resources to equip and educate new traders like you to handle the market in an efficient manner. Education about USD and its current position is made possible by webinars and online resources in various channels that cater to useful information for newbies.
3. Stricter regulations offered by authorities
As online trading expands and becomes more popular around the world, various governments ensure to protect financial institutions and their investors by ordaining specific regulations. The more it gets bigger, the need for security arises. Such regulations are offering different means of transaction transparency to fortify the relationship of investors to their financial markets, as well as implementing strict requirements for regulated brokers.
Experts’ focus on transparency and security is more prominent since market conditions in the past years were often unpredictable.
4. The rise of diverse social trading platforms development
A prime example is Forex social trading, which caters to the social online environment to promote the interaction of traders. It introduces a sharing environment for experts to newbies, and provides training platforms to encourage skill enhancement. You don’t need to imagine and deal with demos alone; rather you get a chance to learn and interact with others, and get coaching from experts in the market industry.
Why 2019 is promising for traders
Opportunity-wise, comprehending the trends of Forex trading in the future will help you strategize effectively and make strong plans for market ventures. As this is beneficial to novice traders who are used to desktop trading, they might impart such knowledge to newbie traders by taking part in multiple social networks. This is due to the vast number of materials and trading platforms.
It’s important to catch up with the latest news to harness your craft and to make sure that you will not be left behind as these plans continue to develop.
Bell Financial Group has outlined that it expects its profit for the first half of 2020 to be up 5 per cent year-on-year. ...
Aussie investors turned to ETFs in “record numbers” through the COVID-19 crisis, according to new research from BetaShares. ...
The Finance Sector Union has managed to secure annual wage increases of up to 3.5 per cent for staff across AustralianSuper, HESTA and Hostp...