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ShowFx World Online: Trading Webinar with Gero Azrul

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On August 08 we invite all forex traders to take part in a free educational webinar from the forex trader with 12 years of experience – Gero Azrul.

About the speaker

  • Gero Azrul, also known as Coach Gero, is a Forex Trader since 2007
  • With almost 11 years of experience in the Forex market, Gero has helped tens of thousands of traders online and offline through seminars, workshops, and coaching
  • Gero actively helps almost 10,000 traders through the Youtube Channel, and over 26,000 Traders through his Facebook Page
  • His focus is to help people start trading Forex in a profitable and consistent manner

Topics covered at the webinar

  • How to easily read market trends using technical data;
  • How to understand macroeconomic data for daily trading to be safer and more profitable;
  • Long-term and short-term management of financial data in order to become a full-time trader;
  • Practical tips and strategies to help you take your first steps in the financial markets.

Extra bonuses of participation 

Each participant will be granted 70% deposit bonus from the general partner.

Each participant will have a chance to win 1000 USD, 2000 USD trading bonuses, or an iPhone at the special quiz held during the webinar.

To register for free participation in the webinar, click here

Note! The number of participants is limited. Book your virtual seat in advance.

Source: https://www.forexnewsnow.com/top-stories/showfx-world-online-trading-webinar-with-gero-azrul/

Forex

SC Malaysia Adds Three Companies To Warning List

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The main regulatory body of Malaysia, the Securities Commission, has recently updated its list of Forex brokers that should be avoided while investing in this market in the country. The list includes two well-known brokers around the world, Hot Forex, and OANDA Malaysia Corporation, which is a clone e of the website of OANDA a famous company that is based in the USA, as it was found, the company that was blacklisted has nothing to do with the US-based company.

The list also includes a company called Torque Market Limited. This company is not as well-known as the other two, however, it was said to be using the logo of the Securities Commission Malaysia without any rights, which has lead to many people trusting this company.

The regulatory body has noted that all of these companies that are in the updated list are not registered or regulated in Malaysia, because of which, they do not have the right to offer services to the citizens of the country and they can not operate here. In addition, they are also violating the Capital Markets and Services act 2007 of Malaysia, which envisages that if convicted, the people behind these companies could get imprisoned or fined.

The announcement made by the regulatory body claims that Hot Forex, as well as the other companies that are on the list, are offering their services to the citizens of the country without having the right to do that. On the other hand, Hot Forex is a well-known FX broker around the world, which offers services in many countries around the world.

It is regulated and taken care of by many regulatory bodies, such as FCA of the UK, CySEC of Cyprus, etc. This is not the first time for the regulatory body to blacklist illegal companies in the country, just a few weeks ago, the regulatory body has blacklisted companies like OctaFX, FintechFX, and many others. Just like this situation, the regulatory body of Malaysia says that the companies did not own a local license from the regulatory agency and did not have the right to offer their services to the citizens of the country.

As it was reported by TopForexBrokers.net, this is not the first time for the regulatory body to do something like this. The regulatory framework in the country is very strict, calling on all FX brokers to have a local license in order to be able to offer the citizens of the country their services.

Reasons Behind the Decision

As it can be read in the statement that was made public by the main regulatory agency of Malaysia, the companies were violating the laws in the country, which are calling on the brokers to make sure to own the local license before they offer services to the citizens of Malaysia.

The companies that are on the list were not locally registered, which has resulted in this decision. The regulatory body has announced that these companies were violating local laws, because of which, the above-mentioned decision was made. Aas Malaysian law indicates only the Forex brokers that own the license of the Securities Commission of Malaysia are able to offer the people of the country Forex trading services.

The regulations that are adopted aim at making the market as safe as possible for investors. It has been proved many times that the regulatory agency of the country works actively to fight against illegal companies and is very actively involved in making sure to keep the local Forex traders safe and secure.

Are these companies scams?

The decision that was made by the regulatory agency in no way means that these companies are scams, rather, the decision only shows that the companies were simply not registered in the country, violating local laws, because of which, they were blacklisted. One of the main reasons for regulations in the world of Forex trading is to help investors in the process of finding trustworthy and secure FX brokers, and since these companies were not registered locally, investors in Malaysia simply did not have enough tools to make sure that the companies were safe to trust.

However, the decisions that were made by the local regulatory company of Malaysia does not talk about the services or security that the broker was offering investors, it focuses on the fact that these companies simply did not have the right to offer services to the citizens of Malaysia, which resulted in the above-mentioned decision.

Some of the FX brokers that were blacklisted by the company are actually very well-known around the world, Hot Forex being one of them, which owns regulations and licenses from several countries around the world, including UAE, Cyprus, UK. The Malaysian regulatory body is known to be very active when it comes to illegal Forex trading. Recently, the company also announced that other companies that are also very much well-known around the world were blacklisted for the same reason, the companies included names like eToro, Binance, OctaFX, and many other huge names.

Source: https://www.forexnewsnow.com/top-stories/sc-malaysia-adds-three-companies-to-warning-list/

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NZD/CHF down 0.70%, Trade Balance of CHF Less Than Expected

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Recent movements on the market indicate that the price of the currency pair NZD/CHF has dropped down by 0.70% at the time of writing. The currency pair is selling for 0.5968. It was forecasted that the Trade Balance of CHF would be 4.320B, however, as of now, it stands at 3.279B.

There are many reasons that affect the changing prices of the currency pair, one of the biggest ones being the Covid-19 situation around the world. Although the situation in this regard is very much stable in New Zealand, ongoing events around the world are affecting the price of the national currency of the country.

The national currency of New Zealand has declined in pairs of NZD/USD as well, experts are saying that it is connected to the fact that the market continues to be focused on negative rates. Experts are claiming that this situation could push rates negative to boost inflation further, which can be seen in the price of the NZD with many pairs.

Recently, the NZD/USD currency pair went down by 0.35%. This downtrend follows a somewhat positive economic number from the country. At the same time, the business confidence level in New Zealand is increasing. Experts have said that the business confidence level in the third quarter has improved significantly from -63% to -40%, which shows some positive outlook.

Most of the companies in the country have reported trading activity in the country to have been increased significantly, as the government works hard towards implementing the stimulus package. The Reserve Bank of New Zealand has also announced that they are working hard towards stabilizing the price of the national currency.

Price of NZD/CHF – How has it changed?

NZD/CHF down

The Heiken Ashi chart shown above shows the changing prices of the currency pair. The chart indicates the movements from June 2020 to October 2020. As can be seen from the chart, the prices of the currency pair have been changing a lot in the last few months. The price of the currency pair started going down in June, after which, it increased slightly in July.

As experienced investors can see from the chart shown above, the price went down to the point of the support level in August, after which, the bounce can be seen on August 26-27, which was followed by the increase of the price of the currency pair. Since then, the price of the currency pair was still very much unstable.

There are many reasons that affect the price of the currency pair, one of the biggest reasons being the situation around the world, and ongoing political events that are happening around the world every moment. The Covid-19 pandemic has affected every part of the economy around the world, and although it did not spread that much in New Zealand, the national currency of the country was still affected because of the restrictions that were adopted.

The tourism sector has shrunk significantly in the country, which is one of the biggest contributors to the economy of New Zealand, the result of which can be seen very easily.

The government of New Zealand is working on an unprecedented stimulus package, that can help the economy of the country a lot. Because of the ongoing events in the country, a huge part of all companies in the country has reported having a huge increase in trading activity, as the government of the country is working to implement the stimulus package.

As a result of this situation, most of the companies in the country are still continuing to hire more people and invest in their own growth, which has helped the labor shortages in some of the industries of the country.

The construction industry is one of those that are doing really good in the country, which is expected to improve significantly over the next few months. The government has also noted that it is ready to use the budget in response to the pandemic, which will cause the economy of the country to have some benefits.

Recently, Switzerland has announced that it would adopt new restrictions to fight against the spread of the Covid-19. As the government has announced recently, everyone in the country is now required to wear face masks indoor areas, and the meetings in large groups will be also limited. The new measures were in full force on Monday, October 19th.

Source: https://www.forexnewsnow.com/forex-analysis/currency/nzd-chf-down-0-70-trade-balance-of-chf-less-than-expected/

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USD/SEK Down 0.49% After a Few Days of Uptrend

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Recent movements on the market show that the prices of the USD/SEK currency pair are down 0.49%. This comes after a few days of an uptrend and the currency pair going up. There are several reasons for the current situation, one of them being the Covid-19 situation around the world.

Recently, the number of Covid-19 cases has increased significantly around the world, causing a lot of challenges for many countries around the world. Also, as the 2020 Presidential Election of the United States is coming up, the price of USD is very much unstable. Because of the changes in the market, many investors are having a hard time deciding what to do on the market, and not for the wrong reason.

Recently, Forex trading has become increasingly popular over the last few months. As the leading FX brokers in Sweden have reported, the number of people using their platforms have started increasing a lot, claiming that one of the major reasons for it is the Covid-19 pandemic, as a result of which, many people have decided to stay home.

Over the pandemic, Sweden was known to be not that harsh when it came to the regulations and restrictions, most of the country remained open during the pandemic, however, recent changes in the country indicate that there is a need for some restrictions. The representatives of the health sector of the country announced that because the situation in the country is getting worse, people will have to wear masks while using public transport, and there might be other regulations coming along the way.

The changing epidemiological situation in the country has become a reason for the leadership of Sweden to work on new plans to overcome the challenges that were created by the Covid-19 pandemic. At the same time, the situation is much worse in the United States, where the number of Covid-19 cases is increasing every moment. The USA remains to be the number one country with the number of Covid-19 cases.

Changing prices of USD/SEK

USD/SEK price up

The chart above shows the changing prices of the currency pair over the last few months, starting in March, the beginning of the pandemic. As can be seen from the table, although the currency pair was going down in the middle of March, it has managed to recover very quickly and at the end of the month was doing very well. After this, however, the currency pair went down significantly over time, and until August, it continued its freefall. After this, it had some good days, bu tin general is very much lower than it was in early 2020.

At the end of October, the price of the currency pair went up significantly, and many experts were saying that the uptrend would continue in the future as well, but as the chart shows, the price went down once again. As of now, the experts are claiming that the price of the currency pair will remain unstable because of several factors, one of them being the upcoming presidential elections of 2020, which will have a huge impact on the prices of many currency pairs around the world.

Recently, when the first presidential debate of this year was held between Donald Trump and Joe Biden, it has proved to have a huge impact on the USD. Because of the shocking outcome of the debate, the price of USD went down significantly, also, quickly after the debate, President Trump tested positive for Covid-19, which lead to further complications.

Covid-19 Situation Around the World

The virus is spreading once again at a very fast pace, and the second wave of the virus is already in full force. Many countries around the world are announcing new restrictions to fight against the spread of the virus, while others are saying that the economies of their countries will not be able to survive another lockdown.

In France, in just 24 hours, more than 30,000 cases were reported, which has led the country to adopt further restrictions in big cities of the country. Sweden, which was very much against restrictions, is now thinking about adopting some restrictions to fight against the spread of the virus. As of now, the situation around the world is getting worse, and the number of Covid-19 cases around the world has surpassed 40 million.

Source: https://www.forexnewsnow.com/forex-analysis/currency/usd-sek-down-0-49-after-a-few-days-of-uptrend/

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