Author: Adam Smith

HFM Launches New Cent Account With Cent Balance

Posted on by Adam Smith
HFM Launches New Cent Account With Cent Balance
The broker continues to enhance its account types to ensure optimal client satisfaction

HFM, the global multi-asset broker, recently introduced the Cent account, an innovative account type that enables traders to engage in trading with cent lots. This feature facilitates the opening of significantly smaller positions and allows users to measure their balance in cents.

The Cent account primarily caters to novice traders who seek to explore the intricacies of the real market and put their trading skills to the test. By using this account, it is possible to gain practical experience without committing a substantial portion of the trading funds. Additionally, seasoned traders can also take advantage of the Cent account to experiment with new trading instruments and refine their strategies.

HFM is pleased to unveil its latest offering, the Cent account, providing traders with a seamless opportunity to embark on their investment journey. By opening a Cent account with HFM, traders gain access to a unique trading experience, characterized by minimal margin requirements of just 10 cents. Moreover, cent lots enable them to open smaller positions, while balance measurement in cents eliminates the need for currency conversion.

Besides, traders can maximize their investment potential with leverage options of up to 1:2000. Additionally, HFM's newly introduced account type eliminates commission fees entirely and exempts traders from swap fees.

An HFM spokesperson expressed enthusiasm by remarking, "We are thrilled to introduce this new account option for our esteemed clients and partners. Our firm belief is that the world of trading should be more accessible to all, regardless of experience level. We strive to empower our traders to select the trading account that aligns with their financial goals and risk tolerance."

HFM's latest introduction of the Cent account aims to establish a comprehensive trading environment that caters to the unique requirements of every trader, irrespective of their level of experience. This account type offers an array of award-winning conditions and an extensive selection of trading instruments to enhance the trading experience.

For more detailed information about the Cent account, we encourage you to visit HFM's official website.

About HFM

HFM, formerly known as HotForex, is a brand name of HF Markets Group, an internationally acclaimed multi-asset broker of choice to over 3.5 million live accounts worldwide that has earned over 60 coveted industry awards in its twelve-year history. The company offers a wide variety of account types, innovative products, platforms, tools and educational resources besides outstanding customer service and unparalleled trading conditions to facilitate individuals and institutional customers to trade Forex and CFDs online.

FP Markets Awarded ‘Best Trade Execution’ and ‘Most Transparent Broker’ at the UltimateFintech Awards APAC 2023

Posted on by Adam Smith

On June 23, 2023, FP Markets, a prominent Forex and CFDs broker, achieved significant recognition at the esteemed Ultimate Fintech Awards APAC 2023. The company was honored with the titles of 'Best Trade Execution' and 'Most Transparent Broker,' solidifying its position as a leading Forex and CFDs broker in the Asian market. These highly coveted awards mark an impressive beginning to 2023 for FP Markets, building upon their earlier achievement of being named the 'Best CFD Broker in Africa' at the FAME Awards 2023. These recent accolades add to the remarkable series of awards garnered by FP Markets in 2022.

The Ultimate Fintech Awards stands as a prestigious and highly regarded award, serving as a definitive benchmark to honor excellence in online trading and Fintech across both B2B and B2C sectors. Taking place in the vibrant city of Bangkok, Thailand, the distinguished event was hosted at the Centara Grand and Bangkok Convention Centre at Central World, drawing a significant number of attendees and attracting top-tier companies from the industry. Alongside numerous acclaimed award categories, recipients were recognized for their innovative leadership, commitment to transparency, and exceptional service, further enhancing their standing within the field.

Nick Twidale, the CEO of FP Markets APAC, expressed his thoughts on the achievement, stating, "Being honored with the Best Trade Execution and Most Transparent Broker awards at the Ultimate Fintech Awards APAC 2023 is a testament to the unwavering commitment and hard work of the entire FP Markets team. These awards further validate our dedication to providing clients with an exceptional trading experience. Our focus on trade execution, transparency, cost efficiency, educational resources, and a wide range of trading platforms has positioned FP Markets as an ideal choice for both short-term and long-term investors. These awards not only highlight our expanding presence in the APAC region but also underscore the global reach and recognition that the Forex and CFDs industry holds in today's market."

FP Markets, established in 2005, is a trusted and multi-regulated brand that offers a wide range of trading opportunities to clients. With over 10,000 tradable instruments spanning across important asset classes, FP Markets ensures diverse options for traders. The company also provides aggregated pricing sourced from renowned liquidity providers. Notably, FP Markets prides itself on delivering consistently tight spreads, rapid trade execution, and unparalleled 24/7 multilingual customer support. To cater to the unique needs and preferences of traders, FP Markets offers a variety of account types suitable for different trading strategies and styles.

Retail Investors Concerned About Domestic Economic Slowdown, eToro Survey Reveals

Posted on by Adam Smith
Domestic Economic Slowdown

In a recent quarterly survey conducted by eToro, it was found that the primary concern among retail investors revolves around the slowdown of their domestic economies. This worry surpassed fears related to inflation and the impact of geopolitical conflicts. The survey, which encompassed over 10,000 retail investors across 13 countries and three continents, shed light on the sentiments prevailing among investors in the second quarter of 2023. Notable participating countries included the UK, the US, Germany, France, and Australia.

Despite central banks raising interest rates to combat inflation, the global economies showcased resilience throughout the year. This resilience has contributed to the surge in stock prices. However, many retail investors no longer perceive a strong market opportunity. According to the survey report, retail investors are now preparing themselves for an impending slowdown. Various metrics employed by eToro to gauge investor confidence experienced declines during the quarter. Confidence regarding the portfolio, the global economy, and the domestic economy dropped by five percentage points, settling at 71%, 40%, and 45%, respectively. (Read our comprehensive review of eToro)

eToro highlighted that "the threat of a home market recession surged to become the biggest perceived risk among global retail investors (18%), while far fewer identified inflation (17%) or international conflict (12%) as the top risks."

Furthermore, eToro noted that while retail investors were quick to purchase stocks after the market hit bottom in October 2022, the majority are now adopting a contrarian approach. This means that most investors do not believe in the "bull market narrative." In fact, only 11% of the surveyed investors believe that the markets have entered another bullish period.

Explaining this shift in strategy, eToro stated that retail investors are employing a "two-pronged 'barbell strategy'" by continuing to invest in successful tech companies while also seeking opportunities in underperforming commodity and bank stocks.

Despite the prevailing concerns, the survey revealed that a significant number of retail investors (31%) increased their investment portfolios during the last quarter, with only 12% decreasing their investments. Moreover, 31% expressed intentions to allocate additional funds to their investments over the next three months. Conversely, approximately 11% of respondents planned to reduce the size of their portfolios during the same period.

The survey conducted by eToro provides valuable insights into the sentiments of retail investors, highlighting their apprehensions regarding the slowdown in domestic economies. As these concerns overshadow worries about inflation and geopolitical conflicts, investors are adjusting their investment strategies accordingly to navigate the changing market landscape.

Interactive Brokers Introduces Nasdaq Copenhagen and Prague Stock Exchange Trading, Offers Fractional Trading

Posted on by Adam Smith
Interactive Brokers (IB) Review

Interactive Brokers (NASDAQ:IBKR), a leading electronic trading company, has expanded its services to allow clients worldwide to trade shares on Nasdaq Copenhagen (CPH) and the Prague Stock Exchange (PSE). In an announcement today, the broker revealed that fractional trading of eligible Nasdaq Copenhagen shares is now available. (Read our detailed review of Interactive Brokers)

Interactive Brokers caters to clients in more than 200 countries and territories, offering access to over 150 global markets. Their platform serves a diverse range of investors, including self-directed individuals, sophisticated traders, advisors, hedge funds, and institutional investors. Clients can invest in various asset classes such as stocks, options, futures, currencies, bonds, and funds. They also have the flexibility to fund and trade accounts in up to 26 different currencies, including the Danish Krone (DKK) and Czech Koruna (CZK).

Milan Galik, the Chief Executive Officer of Interactive Brokers, expressed the company's commitment to providing clients with an extensive range of investment options. He stated, "Clients seeking to diversify and capitalize on new trading opportunities across Europe and the world can now incorporate Danish and Czech stocks into their portfolios. They will benefit from Interactive Brokers' competitive costs and the convenience of trading various products from a unified platform."

Interactive Brokers maintains transparent trading costs. For Danish stocks, commissions range from 0.015% to 0.05% of the trade value, with a minimum of DKK 10.00 per order for tiered pricing based on monthly volume. Alternatively, fixed pricing incurs a commission of 0.05% of the trade value, with a minimum of DKK 49.00 per order. Regarding Czech stocks, fixed commissions amount to 0.15% of the trade value, with a minimum of CZK 70 per order.

Orbex Introduces New Prepaid Card and Orbex Card App

Posted on by Adam Smith
Orbex Introduces New Prepaid Card and Orbex Card App

Orbex, a leading global financial services broker, has recently launched the Orbex Prepaid Card and Orbex Card app, catering specifically to its live account traders. This new offering by the broker is now accessible to clients residing in the Gulf Region, encompassing Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, the United Arab Emirates, and also to all clients residing in Palestine.

As mentioned on the broker's website, the recently introduced Orbex Prepaid Card offers traders a convenient means to access and oversee their trading accounts and balances. Moreover, it provides traders with the flexibility to make online or in-store payments, conduct international money transfers, and conveniently withdraw trading funds and profits as cash from ATMs worldwide.

Prospective and current clients of Orbex who maintain a funded account now have the opportunity to apply for an Orbex Prepaid Card through their myorbexarea dashboard. To enhance convenience, they can download the Orbex Card app on their mobile devices from either the App Store or Google Play. Orbex offers an extremely competitive annual fee structure, starting as low as $0 per year for Ultimate Account holders. The Orbex Prepaid Card encompasses several notable features, such as:

  • Global ATM cash withdrawals.
  • Instant transfers to and from the client's Orbex card.
  • Online or in-store payments using the physical Orbex card or Apple Pay and Google Pay.
  • Instant deposits to Orbex trading accounts or wallets via the MyOrbex dashboard using the Orbex prepaid card.
  • Easy top-ups and quick deposits to trading accounts through the Orbex Card app.
  • Bank transfers to the client's personal account or to other recipients.

Orbex Chairman, Abdallah Abbas, expressed his thoughts on the recent introduction of the Orbex Prepaid Card and Orbex Card app, stating:

"At Orbex, we are embarking on a new phase of growth and innovation, encompassing global expansion, regulatory compliance, and the introduction of groundbreaking products that exceed our clients' expectations. The launch of the Orbex Prepaid Card represents a significant milestone for our company and its offerings. We recognize the importance for our clients to have swift and effortless access to their funds and hard-earned trading profits. Through the Orbex Card and App, our clients now have complete control over their trading balances, enabling them to enjoy instant transfers, top-ups, and even cash withdrawals at any time and from anywhere across the globe."

About Orbex

Established in 2011, Orbex Global Ltd stands as a prominent global investment services firm renowned for delivering top-notch forex and CFD trading services. With a steadfast dedication to excellence, Orbex offers traders highly competitive conditions and has garnered recognition through various prestigious awards. The company is committed to granting access to cutting-edge trading and investing solutions, bolstered by a wealth of educational resources, advanced research tools, and round-the-clock multilingual support, ensuring a comprehensive and exceptional trading experience for its clients.

Rise in ChatGPT Trading Scams: Beware of Fraudulent Trading Strategies

Posted on by Adam Smith
ChatGPT Trading Scams

In recent days, an alarming trend has emerged in the online trading community, as unsuspecting individuals are falling victim to ChatGPT trading scams. These scams exploit the popularity of AI-powered chatbots and promise foolproof trading strategies, luring in novice investors with the promise of easy profits. However, these fraudulent schemes have left many individuals in financial ruin and underscore the importance of remaining vigilant in the digital age.

ChatGPT is next-gen AI software that imitates a human-like conversation between artificial intelligence and users presented in a text-based format. It can answer questions, fulfill requests, and generate increasingly sophisticated responses. It can even create silly poems and original songs, showcasing its growing abilities. Check more about full capabilities of ChatGPT website.

  • Unfortunately, fraudsters have seized upon its capabilities and are using it as a means to propagate deceptive trading strategies like Robot Trading. These scams typically involve individuals or groups posing as experienced traders or financial advisors, offering access to ChatGPT algorithms that allegedly generate profitable trades.
  • However, ChatGPT, as a language model, lacks real-time data since its database is not up-to date, a deep understanding of financial markets, the ability to execute trades, and comprehensive risk management and analysis. Although it can provide general information and assist in generating trading ideas, or is some cases help to write trading code for trading startegy like algo or Api, it is essential to supplement its capabilities with specialized financial tools, up-to-date data, and expert knowledge from financial professionals to engage in successful trading activities.

One of the primary methods employed by these scammers is the creation of sleek and professional-looking websites and social media profiles, designed to project an air of legitimacy. They often showcase impressive performance records, testimonials, and success stories from purported users of the ChatGPT trading strategies. These fraudulent actors employ persuasive tactics, manipulating emotions and capitalizing on individuals' desire for quick financial gains.

Once individuals are lured into these scams, they are typically required to pay a substantial fee to access the ChatGPT algorithms or receive personalized trading advice. However, instead of receiving the promised strategies, victims either receive outdated or generic trading information that is freely available online, or they receive nothing at all.

Furthermore, scammers often request personal and financial information from their victims, which can be used for identity theft or further financial exploitation. In some cases, victims are even persuaded to grant remote access to their trading accounts, allowing the scammers to execute trades on their behalf. This inevitably leads to significant losses as the scammers manipulate the trades for their own benefit.

Below are several websites associated with scams that promote ChatGPT trading bots:

  1. www.trendspider.com
  2. www.pionex.com
  3. www.tigergpt.com
  4. www.trade-gpt.ai
  5. www.gptrader.app

Regulatory bodies and law enforcement agencies worldwide are becoming increasingly aware of this growing menace and are taking steps to tackle these fraudulent activities. However, it remains a challenging task to identify and apprehend the perpetrators due to the complex nature of online scams and the anonymity afforded by the internet.

To protect themselves from falling victim to ChatGPT trading scams or any fraudulent investment schemes, individuals should exercise caution and adhere to the following precautions:

  1. Be skeptical of too-good-to-be-true claims: Promises of guaranteed profits and minimal risks should raise red flags. Legitimate investment opportunities are rarely without risks.
  2. Conduct thorough research: Verify the credentials of the individuals or platforms offering trading strategies. Check for licensing, accreditation, and positive reviews from trusted sources.
  3. Guard personal and financial information: Never share sensitive information, such as bank account details or identification documents, with unverified or suspicious entities.
  4. Consult reputable financial advisors: Seek advice from established financial professionals who have a proven track record in the industry. They can provide expert guidance on investment strategies.
  5. Stay informed about scams: Keep up to date with the latest scamming techniques and tactics. Be aware of common red flags and educate yourself about the risks associated with online trading.

As technology continues to advance, it is crucial for individuals to remain vigilant and exercise caution when engaging with online platforms promising financial gains, so it is best to choose verified Broker and run startegies from verified sources (see our list of Brokers for AutoTrading). The rise of ChatGPT trading scams serves as a reminder that while AI can provide incredible opportunities, it also carries the risk of exploitation by malicious actors. By staying informed and adopting a healthy skepticism, individuals can protect themselves from falling victim to such fraudulent schemes and ensure their financial well-being.

Orbex Launches New ZERO Spread Trading Account

Posted on by Adam Smith
Orbex Launches New ZERO Spread Trading Account

Orbex, a prominent forex and CFD broker that adheres to multiple regulations, has unveiled the introduction of its latest offering: the ZERO Spread Trading Account. This account type will cater to new traders who sign up before September 30th, 2023, for a limited duration. By commencing with spreads, fees, and swaps at zero levels, coupled with a fixed commission fee of $1 per side lot, Orbex aims to offer traders unparalleled trading conditions.

Orbex provides traders with the ability to engage in leveraged CFD trading, granting them direct access to a wide range of underlying assets. These assets encompass forex pairs, major company stocks, global indices, metals, energies, futures, cryptocurrencies, and agricultural products. Considering the prominence and popularity of the forex market, traders often encounter significant trading expenses such as spreads, swaps, commissions, and withdrawal fees, which can limit their potential profits and cause frustration. To address this issue, Orbex has introduced the ZERO Spread Trading Account, designed to offer traders the lowest possible costs and a range of advantageous conditions. This allows traders to optimize their trading portfolios and maximize their potential gains.

Exclusively offered to new traders at Orbex for a limited duration, the newly introduced Orbex ZERO Spread Trading Account allows traders to access Orbex's most favorable terms yet. The conditions include:

  • Raw forex spreads starting from 0.0 pips
  • Zero swaps applied to overnight positions
  • 0% withdrawal fees for all payment methods
  • Up to 500x leverage available for forex and gold trading
  • A mere $1 commission per side lot for FX trading
  • Exceptional execution speeds without requotes
  • No commissions are charged on all US shares

Orbex offers a comprehensive range of conditions and services to enhance the trading experience for its clients. These include 24/5 expert support, negative balance protection, and daily market analysis by a world-renowned research team. Moreover, Orbex extends unlimited access to its exclusive Trading Central suite for all active traders. This suite encompasses a robust set of market-scanning tools and expert analytics, empowering traders to identify emerging trading opportunities and enhance their trading strategies effectively. With these powerful resources at their disposal, traders can stay ahead of the market and make well-informed trading decisions.

For opening an Orbex Zero Spread Trading Account or to learn more about it, click here.

About Orbex

Established in 2011, Orbex Global Ltd stands as a prominent global investment services firm, renowned for its exceptional forex and CFD trading services. Recognized for its competitive conditions, Orbex offers a range of award-winning trading solutions. The company's unwavering commitment lies in providing clients with access to cutting-edge trading and investing resources. This commitment is further reinforced through comprehensive educational offerings, expert research tools, and continuous support, enabling clients to navigate the complexities of the global financial markets with confidence.

Leading Forex and CFDs Broker FP Markets Expands its Emerging Markets Forex Offering Adding Mexican Peso (MXN), Brazilian Real (BRL) and South African Rand (ZAR)

Posted on by Adam Smith
FP Markets adds Mexican Peso (MXN), Brazilian Real (BRL) and South African Rand (ZAR)
Through the FP Markets MetaTrader 4 (MT4) and MetaTrader5 (MT5) Trading Platforms Traders and Investors can now trade a range of additional emerging currencies against the US Dollar.

As the foreign exchange market continues to grow, there has been a surge in client demand for greater choice and flexibility. In light of this, FP Markets has taken steps to enhance its range of exotic currency pairs. Traders and investors can now engage in trading activities involving the Mexican Peso (MXN), Brazilian Real (BRL), and South African Rand (ZAR) against the US Dollar. This expansion has significantly increased the number of currency pairs available for trading at FP Markets, surpassing 70 in total. By bolstering its comprehensive selection of CFD products, which already includes Commodities, Shares, Indices, Digital Currencies, Bonds, and ETFs, FP Markets aims to cater to the diverse needs of its clientele.

FP Markets now offers the newly added currencies through its MT4 and MT5 Trading Platforms. Traders can access a comprehensive list of these currencies by visiting the dedicated page provided by FP Markets.

FP Markets' CEO, Craig Allison, expressed his thoughts on the launch of the additional currencies, stating that it is a significant step in the company's efforts to enhance its Forex offering and provide traders with more diverse options in the FX market. He emphasized that in addition to the already extensive selection of currency pairs, clients can now access the Mexican Peso (MXN), Brazilian Real (BRL), and South African Rand (ZAR) as base currencies against the US Dollar. This expansion allows traders to diversify their portfolios and take advantage of the growth potential offered by emerging markets.

FP Markets, founded in 2005, is a reputable brand that operates under multiple regulations. It offers a wide range of trading options to clients, with over 10,000 tradable instruments spanning various key asset classes. FP Markets ensures competitive pricing by aggregating rates from several esteemed liquidity providers. Moreover, the company prides itself on consistently offering tight spreads, ensuring rapid execution of trades, and providing unmatched 24/7 multilingual customer support. To accommodate diverse trading strategies and styles, FP Markets offers a variety of Account types.

About FP Markets

  • FP Markets is a Multi-Regulated Forex and CFDs Broker with over 18 years of industry experience.
  • The company offers highly competitive interbank Forex spreads starting from 0.0 pips.
  • Traders can choose from the leading powerful online trading platforms, including FP Markets’ Mobile App, MetaTrader 4, MetaTrader 5, WebTrader, cTrader, and Iress.
  • The company's outstanding 24/7 multilingual customer service has been recognised by Investment Trends and awarded ‘The Highest Overall Client Satisfaction Award’ over five consecutive years.
  • FP Markets has been awarded the ‘Best Global Forex Value Broker’ for four consecutive years (2019, 2020, 2021, 2022) at the Global Forex Awards.
  • FP Markets has been awarded the ‘Best Forex Broker – Europe’ and the ‘Best Forex Partners Programme – Asia’ at the Global Forex Awards 2022.
  • FP Markets has been awarded ‘Best Trade Execution’ at the Ultimate Fintech Awards 2022.
  • FP Markets crowned ‘Best CFD Broker in Africa’ at FAME Awards 2023

To explore FP Markets' extensive range of products and services in detail, visit the official website at www.fpmarkets.com.

FP Markets Crowned ‘Best CFD Broker in Africa’ at FAME Awards 2023

Posted on by Adam Smith
FP Markets receives the prestigious accolade of Best CFD Broker in Africa at the FAME Awards 2023, part of the Finance Magnates Africa Summit (FMAS23).

FP Markets, a prominent broker in Australia specializing in Forex and CFDs, was recently honored with the esteemed title of 'Best CFD Broker in Africa' at the renowned FAME Awards in 2023. This prestigious award serves as a testament to the company's remarkable growth and increasing influence within the African CFD market.

In a grand ceremony held on May 10, 2023, at the renowned Sandton Convention Centre in Johannesburg, South Africa, the Finance Magnates Africa Summit (FMAS23) showcased the best-known names of the financial sector. It was during this event that FP Markets, a leading broker, was honored with the esteemed title of 'Best CFD Broker in Africa.' The award celebrated excellence and innovation within the industry, bringing together prominent figures from the financial world.

This remarkable achievement marks FP Markets' first award in Africa for 2023, following a remarkable string of awards in 2022. These included the unprecedented fourth consecutive win of the 'Best Global Forex Value Broker' title and recognition as the 'Best Forex Broker in Europe.' Notably, this award aligns with FP Markets' regulatory approval by South Africa's Financial Sector Conduct Authority (FSCA) in 2022, solidifying the company's ongoing commitment to delivering an exceptional product and customer experience while maintaining robust regulatory standards across its global operations.

Craig Allison, the Chief Executive Officer of FP Markets, expressed his thoughts on the company's recent award, stating, "Being recognized as the Best CFD Broker in Africa is a significant milestone for our team. This award not only marks our first achievement on the African continent but also showcases our global presence in the Forex and CFD market. Our advanced technology, consistently tight spreads, and award-winning customer support have enabled us to deliver top-notch service to our clients in this dynamic region. Receiving this recognition is a testament to the dedication of our team, and we are excited to expand our footprint in Africa and strengthen our position as the preferred CFD broker for traders worldwide."

FP Markets provides traders with an extensive selection of over 10,000 trading instruments, granting them access to a diverse range of CFDs encompassing Forex, Indices, Commodities, Stocks, ETFs, Bonds, and Cryptocurrencies. This vast offering positions FP Markets as one of the industry's leaders. The broker offers leading trading platforms, including MT4, MT5, cTrader, and Iress, ensuring traders have access to cutting-edge technology.

About FP Markets:

  • With more than 18 years of industry experience, FP Markets stands as a multi-regulated broker specializing in Forex and CFDs.
  • The company offers highly competitive interbank Forex spreads starting from 0.0 pips.
  • Traders can choose from the leading powerful online trading platforms, including FP Markets’ Mobile App, MetaTrader 4, MetaTrader 5, WebTrader, cTrader, and Iress.
  • The company's outstanding 24/7 multilingual customer service has been recognized by Investment Trends and awarded the ‘The Highest Overall Client Satisfaction Award’ over five consecutive years.
  • FP Markets has been awarded the ‘Best Global Forex Value Broker’ for four consecutive years (2019, 2020, 2021, 2022) at the Global Forex Awards.
  • FP Markets has been awarded the ‘Best Forex Broker – Europe’ and the ‘Best Forex Partners Programme – Asia’ at the Global Forex Awards 2022.
  • FP Markets has been awarded ‘Best Trade Execution’ at the Ultimate Fintech Awards 2022.

For more information on FP Markets' comprehensive range of products and services, visit www.fpmarkets.com.