News - 55brokers

Top Brokers with Lightning-Fast Execution for Gold Trading

Posted on August 24, 2023August 30, 2023 by Adam Smith

In the world of gold trading, speed can be the ultimate game-changer, and choosing a broker with swift order execution can significantly impact traders' success. After an exhaustive evaluation of the leading brokers in the industry, BlackBull Markets has emerged as the standout performer, offering unparalleled execution speed for gold trades, making it the preferred choice for traders seeking efficiency in this precious metal market.

The Importance of Order Execution in Gold Trading

In the realm of the gold market, swift price fluctuations are the norm, and executing trades at the right moment can determine the line between profitable trades and missed chances. Whether traders are employing scalping strategies or depending on automated systems, quick order execution guarantees the ability to enter and exit gold positions swiftly. This approach diminishes the possibility of slippage and optimizes the potential for profits.

Findings from Gold Trading Execution Speed Testing

Through a comprehensive examination of brokers specializing in gold trading, we assessed the speed of executing market orders. Our objective was to pinpoint the broker consistently offering the swiftest execution, thereby granting traders a notable advantage in the gold market. Following meticulous testing, BlackBull Markets emerged as the unequivocal leader, showcasing a remarkable average execution speed for gold market orders that surpassed all competitors. Its steadfast dedication to rapid execution positions it as a leading choice for traders in search of a dependable ally in the realm of gold trading.

Here's a glimpse of the average execution speeds for gold market orders among the brokers tested:

BlackBull Markets: 20.587 milliseconds
XM: 35.488 milliseconds
FXPro: 47.653 milliseconds
Admiral Markets: 85.559 milliseconds
Easy Markets: 104.461 milliseconds
Fusion Markets: 92.166 milliseconds
FP markets: 87.665 milliseconds
Pepperstone: 30.698 milliseconds
Eightcap: 276.66 milliseconds
IC Markets: 356.69 milliseconds

Testing Methodology for Gold Trading Execution Speed

To ensure the accuracy and relevance of our findings, our testing focused on the popular gold trading pair XAU/USD. We executed a total of ten buy and ten sell orders for 1 lot each of XAU/USD at regular intervals throughout a typical trading day.

By simulating real-time trading conditions, our methodology captured the brokers' execution speeds accurately. Utilizing standardized order sizes and a common gold trading pair created a level playing field for all brokers tested.

Throughout the testing period, we recorded the time taken for each gold order to be executed, measuring the order execution time from submission to confirmation. This data allowed us to calculate the average execution speed for each broker.

Conclusion

In the competitive world of gold trading, BlackBull Markets shines as a top choice for traders seeking lightning-fast execution, followed by Pepperstone and XM. With its industry-leading execution speeds, traders can seize time-sensitive opportunities and optimize their gold trading strategies with minimal slippage.

Orbex Announces “Trading Masterclass” Live Webinar Series

Posted on April 26, 2023August 22, 2023 by Adam Smith

Orbex, a multinational investment firm that is regulated by multiple jurisdictions, has unveiled the launch of its new "Orbex Trading Masterclass." This comprehensive live trading webinar series will be hosted by renowned market analysts and industry experts and is set to run from May through June 2023. Participants who complete the entire Masterclass will be eligible to receive a Certificate in Online Trading.

About the Masterclass

The Orbex Trading Masterclass is a comprehensive program that delves into essential trading principles, techniques, and strategies for CFD trading across a range of markets including forex, stocks, indices, cryptocurrencies, commodities, and futures. Over the course of seven live webinars, participants can expect to receive valuable trading education that is completely free. The webinars will cover a range of topics, from how market events impact different markets to observing exclusive trading methods in action in real time, and participants will have the opportunity to get their questions answered.

Expert-led Live Webinars

The development of the "Orbex Trading Masterclass" was led by a team of market strategists and professional traders from Orbex. The course is available for participants to register for free and attend specific webinars or complete the entire program in either English or Arabic.

Mohammed Al-Mariri, Head of Training and Market Strategy at Orbex, emphasized the firm's commitment to supporting clients' success and the broader trading community by providing the necessary tools and education to make informed investment decisions.

He further highlighted that the "Orbex Trading Masterclass" has been designed to offer participants interactive quizzes and a Certificate of completion, while teaching them effective trading strategies in real-time, providing exclusive trading techniques and insights, and helping them elevate their trading skills to the next level.

Trading Education for All

The popularity of online trading and investing has increased dramatically in recent years, with many individuals using Orbex and other online trading platforms to access the global financial markets. However, these new traders often lack the necessary knowledge to understand how the markets work and the risks associated with trading, as they are primarily motivated by the potential for significant profits. Orbex is committed to "serving traders responsibly" and addressing this information gap by offering trading education initiatives such as the "Orbex Trading Masterclass" to promote financial literacy.

To learn more about the Orbex Trading Masterclass and register for the program, please visit the website.

Orbex Awarded “Best CFD Broker Asia” at the Mumbai Money Expo 2023

Posted on August 17, 2023August 22, 2023 by Adam Smith

Orbex, a renowned worldwide CFD broker, achieved the esteemed accolade of "Best CFD Broker Asia" at the Mumbai Money Expo 2023, the largest financial exhibition in India. Notably, Orbex stood out as a significant participant in the expo, taking place from August 12 to 13, 2023, at the Jio Convention Centre in Mumbai, India. The company also held the distinction of being one of the event's distinguished Diamond sponsors.

The Money Expo 2023 showcased a comprehensive display of the latest trading and investment offerings, attracting a multitude of investors, traders, brokers, and industry experts from the entire region. Concluding the event was the highly anticipated Money Expo Awarding Ceremony, a platform that celebrated the most exceptional and innovative contributors in the financial sector. These awards recognized excellence across various categories, with the winners being meticulously selected by a panel of seasoned experts and analysts, adhering to rigorous evaluation criteria.

During the ceremony, Orbex was honored with the prestigious "Best CFD Broker Asia" award, a testament to the broker's unwavering commitment to providing a secure, transparent, and user-friendly trading platform for CFD traders across the Asian region. Since its establishment in 2011, Orbex has stood out for its responsible trading, underlined by its mission to continually enhance and deliver top-tier trading solutions to its clientele. With a steadfast focus on excellence, Orbex extends a suite of exceptional services, including award-winning research, step-by-step educational resources, unique analytical tools, and highly favorable trading conditions encompassing over 400 CFD assets.

Orbex Head of Training and Market Strategy Mohammed Al-Mariri who had the opportunity to accept the award in person, commented:

The recognition of this award deeply honors us, showing our dedication to providing an outstanding trading journey for clients spanning Asia and beyond. We express our gratitude to the Mumbai Money Expo organizers for hosting this pinnacle industry occasion, enabling us to present our array of offerings to a vast and diverse audience.
We are also grateful to our clients for their unwavering trust and loyalty, and to our esteemed partners and dedicated staff for their unyielding commitment and professionalism. Our commitment remains steady as we plan to continually surpass our clients' expectations by offering them a trading environment that is not only secure and transparent but also exceptionally user-friendly.

But recognition and awards do not stop here, as it is followed by a series of honors and awards granted to Orbex in 2023, including "Best Forex Provider 2023"; “Best Forex Broker Africa, 2023”; "Best Customer Experience Broker MENA, 2023"; and “Most Transparent Forex Broker, 2023”.

About Orbex

Orbex Global Ltd stands as a prominent global investment services company, delivering traders a suite of acclaimed forex and CFD trading services underscored by highly competitive conditions. Since its establishment in 2011, Orbex has been resolutely devoted to offering premier trading and investment solutions. These encompass cutting-edge education, top-tier research tools, and round-the-clock multilingual support, solidifying its commitment to clients' success.

ASIC Sues eToro Over High-Risk CFD Product

Posted on August 3, 2023August 3, 2023 by Adam Smith

The Australian Securities and Investments Commission (ASIC) has commenced Federal Court proceedings against online trading platform eToro, alleging breaches of design and distribution rules. The suit focuses on eToro's contract for difference (CFD) product, a high-risk leveraged derivatives contract that allows users to speculate on various underlying assets' price movements.

On August 3, ASIC announced that it was suing eToro for offering its CFD product to a broad market of retail investors without proper screening tests to exclude unsuitable customers. The regulator contends that eToro’s CFDs, which it describes as "high-risk and volatile," were marketed to an overly extensive customer base.

ASIC alleges that the platform's screening test was "very difficult to fail," allowing clients to change their answers without limitations and prompting them if they selected answers that could lead to disqualification. As a result, a large number of retail clients might have been exposed to a CFD product that was not aligned with their investment goals, financial situations, or needs, thereby increasing the risk of consumer harm.

Furthermore, ASIC disclosed that nearly 20,000 of eToro's clients lost money trading CFDs between October 5, 2021, and June 14, 2023. eToro's website itself acknowledges that 77% of retail investor accounts lose money when trading CFDs with the platform.

"Our message to the industry is that CFD target markets should be narrowly defined given the significant risk that retail clients may lose all of their deposited funds," stated ASIC Deputy Chair Sarah Court. "CFD issuers must comply with the design and distribution regime and cannot simply reverse engineer their target markets to fit existing client bases."

ASIC alleges that eToro's CFD target market and its client screening process were insufficient, failing to properly filter out unsuitable customers. Additionally, the regulator accuses eToro of failing to ensure its financial services were provided efficiently, honestly, and fairly.

ASIC is seeking declarations and financial penalties from the Court. However, the date for the first case management hearing has yet to be scheduled.

HFM Launches New Cent Account With Cent Balance

Posted on July 4, 2023July 11, 2023 by Adam Smith

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.

HFM Unveils Refreshed Website and New Trading Conditions

Posted on May 11, 2023July 4, 2023 by Adam Smith

HFM, a prominent global multi-asset broker, has recently unveiled its latest trading accounts, offering enhanced trading conditions. This development stands as yet another testament to the company's continuous pursuit of innovation and its leading position in the worldwide online trading market. Alongside this exciting update, HFM has also introduced a fresh and modern look for its website, further elevating the overall user experience.

HFM continues to revolutionize the financial markets by introducing its latest trading accounts. These cutting-edge accounts empower clients to trade across a diverse range of asset classes while enjoying unparalleled trading conditions. With features like increased leverage of up to 1:2000, swap-free trading options on selected accounts and instruments, swift deposit and withdrawal methods, and lightning-fast execution, HFM is reshaping the way traders engage with the global markets. This new offering sets a new standard for efficiency and convenience, reaffirming HFM's commitment to delivering top-tier services to its clientele.

"Our priority is to provide traders with a robust trading environment that empowers them to excel in the financial markets. The introduction of our new trading accounts and the exceptional trading conditions we offer is a testament to our unwavering commitment to assisting our clients in becoming self-directed traders. We value the feedback and requirements of our clients and partners, and their input will remain instrumental in shaping our future decisions," stated a spokesperson from HFM.

New Website, Automated Client Onboarding

HFM has launched its enhanced website, meticulously designed to prioritize user experience. The website now boasts a modern design and intuitive navigation, providing visitors with a user-friendly interface to explore the company's comprehensive product portfolio and range of services. Additionally, HFM has introduced an upgraded onboarding process that streamlines the account setup procedure. This effortless onboarding experience enables traders to swiftly establish their accounts and seamlessly commence trading within minutes, further enhancing their overall trading journey.

In response to these latest developments, the spokesperson from HFM expressed their enthusiasm, stating, "This marks an exciting new chapter for HFM. We continuously listen to our clients' feedback and strive to enhance our services to meet their needs. As the demand for user-friendly and personalized trading experiences grew, we seized the opportunity to revamp our website and KYC procedures entirely. Our goal is to make online trading easily accessible to everyone, ensuring a seamless and tailored experience for all."

HFM invites visitors to explore the new website: www.hfm.com

About HFM

HFM, previously recognized as HotForex, is a renowned brand under HF Markets Group. With a remarkable twelve-year history, HFM has emerged as the preferred multi-asset broker for over 3.5 million live accounts worldwide. The company's exceptional performance has been acknowledged through the acquisition of more than 60 esteemed industry awards. HFM stands out by providing an extensive range of account types, innovative products, cutting-edge platforms, advanced tools, and educational resources. Complemented by outstanding customer service, the company offers unparalleled trading conditions, enabling both individual and institutional customers to engage in online Forex and CFD trading with utmost convenience and efficiency.

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

Posted on June 29, 2023June 29, 2023 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.

USD pulls back as Initial Jobless Claims Exceed Consensus

Posted on June 12, 2023June 12, 2023 by Adam Smith

The initial applications for unemployment benefits surged to 260,000 over the past week exceeding the highest level since October 2021.

The Dollar Index, DXY, fell sharply on Thursday after the US economy sent an alarming signal. The total number of jobless claims has reached 261,000 surpassing estimates of 235,000 and exceeding the 233,000 claims from the week before. As a result, the dominant dollar lost its strength and depreciated by 0.7% as it ventured southward. (Learn more about Forex Trading in the US)

Jobless claims are weekly statistic reports issued by the US Department of Labour that estimate the total number of people filing for unemployment insurance benefits. There are two types of jobless claims - initial, which consists of people filing for the first time, and continuing, which comprises people who have been receiving unemployment benefits for a while. This is an important indicator for the nation's macroeconomic scene keeping track of the health of the US jobs market.

The latest figures are higher than those of October 2021 which explains the sharp reaction in the US currency. As a result, the EUR/USD pair surged by approximately 80 pips, reaching $1.0780, while the GBP/USD pair gained around 120 pips, surpassing the $1.2550 mark.

Rise in ChatGPT Trading Scams: Beware of Fraudulent Trading Strategies

Posted on June 8, 2023June 9, 2023 by Adam Smith

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:

www.trendspider.com
www.pionex.com
www.tigergpt.com
www.trade-gpt.ai
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:

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.
Conduct thorough research: Verify the credentials of the individuals or platforms offering trading strategies. Check for licensing, accreditation, and positive reviews from trusted sources.
Guard personal and financial information: Never share sensitive information, such as bank account details or identification documents, with unverified or suspicious entities.
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.
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.