Secure Trading Platform Ends at Giga FX
Trading News

The Search for a Dynamic and a Secure Trading Platform Ends at Giga FX

By 25349 0

The right choice, when it comes to choosing the right trading platform, is highly crucial. A slightly wrong choice can have a tangential effect towards losses. Choosing a wrong trading platform, or a wrong broker can cost you your entire investment. So, the need for the right choice can’t be emphasized enough.

Luckily, we have GigaFX, which offers great stability, security, and feature-packed trading platform. This online broker was founded in 2018 and is based on the Dominic Republic. The company has made a big name in such a short period based on its thorough professionalism which offers its customers absolute clarity, transparent transactions, user-friendly deposits and withdrawals, speedy processes, high levels of security and so on. Based on the quality of the services, the company has made an impression on the global stage in the trading world.

With fantastic services offered in over sixty countries, the company, with its strong experience in the trading field offers great insights to its users. This platform suits both the beginner as well as the experienced alike. In this article, we will look at the features and the reasons why we are all praises about the trading platform.

The all-in-one platform-

Giga FX is truly an all-in-one platform given the number of excellent services it offers. In this section of the article, let us look at its features-

  • Trading instruments- GigaFX boasts of offering more than 2k financial trading instruments. This gives the users immense freedom to explore trading and have a versatile trading portfolio. Here, at this platform, you can purchase CFDs (Contracts for Difference) for a good range of assets.
  • Currencies supported- As of now, the platform supports only two currencies, namely- Euro and Pound. It doesn’t mean you can’t use other currencies. You absolutely can use any currency, but it will be converted into either of the two mentioned currencies and therefore, with a little conversation charge, you can use any currency for the trading purposes.
  • Natural Resources- Yes, you can choose to trade in these categories- gold, silver, oil, natural gas, and so on. Given they are not too volatile markets, therefore, the user can get good levels of leverage, and make use of versatile spreads and prices. The user also gets the freedom to choose the trading platform of his or her choice.
  • Stocks- Trading in stocks market with Giga FX is like having your best friend with you all the time. The platform is a highly-responsive one that offers you its service on a 24/7 basis. Moreover, Giga FX offers a great variety of stocks to choose from, with competitive rates, and favorable trading positions that make it a highly profitable platform.
  • Forex- The user enjoys a great variety of trading pairs at GigaFX. In addition, with quick executions and high leverage, forex marketing becomes very efficient. In order to support its users, the platform offers educational tools as well as analysis tools for supporting them as they grow.
  • Cryptocurrency- GigaFX offers all that a crypto trader ever dreams of. It offers services such as an exhaustive variety of cryptocurrencies, which includes Bitcoin, Ethereum, Litecoin, and so on. Further, it offers a secure, crypto wallet to trade these cryptos easily. The users can enjoy high leverage, amazingly competitive rates, and overall a tight security that can be relied upon easily. Cryptocurrency trading is in high demand, and therefore, the platform has left no stone unturned to bring the best services to its users.
  • Indices- Here at GigaFX, the user gets access to the trending indices, with a backing of great index tools and high leverage. These services are available during the day time.

This was a little glimpse of the main services offered by the platform. Other services include Cannabis Stocks, eBooks, Video-based learning tools, in-depth educational tools, latest market news, detailed market analysis, and so on. Our say is simply that when you come across such a platform, you should not miss it at any cost. Just remember to stay wise, vigilant, and aware when it comes to trading.

dubai
Company News

Government To Boost Dubai’s Status As Center For SME Growth; Dubai Will Become Progressive Base For SMEs

By 18225 0

The government is coming up with new initiatives so as to simplify the carrying business and to minimize the cost of doing business in Dubai. With these initiatives, Dubai’s economy is entering into a new development stage. Dubai is on its way to becoming a progressive base for all small and medium-sized enterprises (SMEs).

The Expo 2020 project of Dubai focuses on offering new opportunities to SMEs. World Expo first of its kind will be hosted in Africa, the Middle East, and South Asia. The main goal of the Expo 2020 is to give 20 percent of all contracts value to SMEs. As of now, Expo 2020 has invested around AED2.4 billion in the SME sector and is planning to launch a new round of tenders; these tenders will mostly rely on SMEs for delivery.

The important agency that is supporting the growth of SMEs in Dubai is ‘the Dubai SME’- it is the Department of Economic Development agency responsible for developing the SME sector in Dubai.

Dubai SME CEO, Abdulbaset Al Janahi, mentioned,

“Dubai offers a unique model for creating a vibrant SME sector. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has set ambitious development goals in the 50 Year Charter including the establishment of the world’s first virtual trade zone targeting 100,000 companies, as well as the transformation of universities into free zones in order to promote economic growth and innovation. These goals offer exceptional opportunities for promising small and medium enterprises.”

He later mentioned, Dubai SME will continue to provide more opportunities to its members and also boost SME capacity by offering training and consultation and also support collaborations with the private sector and the government. Financial support is one of the important elements of Dubai’s offerings for small-medium sized enterprises.

The objective of the Dubai Plan 2021 is to increase the GDP contribution of SMEs to 45 percent within 2021.

Department of Finance Launches New packages

Back in May 2019, Dubai’s Department of Finance introduced five new incentive packages. These packages were launched to assist SMEs and to promote public-private collaborations.

The first incentive package, within this package, SME suppliers to government departments will receive a payment within a month and need not wait for 90 days for payments as earlier, so as to offer SMEs with more liquidity of AED1.6 billion per year.

Previous, SMEs primary insurance value was between 2 to 5 percent and within the second initiative, the value has been reduced between 1 to 3 percent.

Within the third initiative, ‘performance insurance’ – the final insurance rate has been reduced to 5 percent from 10 percent on every supply.

The fourth initiative allows 5 percent of government capital projects to be provided to SMEs.

The last and fifth initiative consists of providing AED1 billion to public-private based projects.

The first incentive package was launched in 2018 and Dubai had introduced various steps to minimize costs and promote business reliability and it is also building a new specific SME cluster that aims at business innovation.

Recently, Dubai SME, Merras and the Department of the Economic Development collaborated to introduce Al Seef SME District- an innovation center across Al Seef.

CFD Trading
Trading News

Know About The Costs Of CFD Trading

By 13911 0

For some traders understanding the CFDs’ trading charges is difficult as they vary according to the type of broker chosen and the market conditions. You can get CFDs for any financial asset; this offers a lot of variation to its traders.

While trading in CFDs, there are three ways how you are charged. First is ‘spread’ which is a difference between the ‘ask’ and ‘bid’ price. Spreads are not large, but when you are choosing a broker, you should pay attention to their spreads. Some brokers will claim to have no commission fee, but then they will have a wider spread to compensate. As a trader, it is important that you compare before deciding where to start your trading from. Some brokers use market made price with the spreads while there are other brokers, who will charge spreads according to the market movements.

Second is the commission charge, which may be about 0.1% of the value of the particular asset when you move in and out of the position. Some brokers even charge as high as 0.25% but even then trading in CFDs have lower commission then trading in actual stocks.

Additionally, all CFDs have overnight charges whenever a position is being held overnight. This interest rate is decided in advance. The charges vary with different assets, so make sure what interest rates your broker is charging for CFD trading. The charges are triggered when a trader passes the daily cut-off time. If a trader closes his positions before that time, no charges are levied to him.

One of the benefits of trading CFDs is that it doesn’t entitle the rights to the shareholders, but they get to enjoy the benefit when a share pays a dividend.  Thus most of the Brokers make a dividend adjustment to the traders’ account. It is a good thing for the traders who holds a long position on the underlying asset but for those taking a short position; this can be bad news as the account will be adjusted downwards.

Another cost that you will have is a charge for the trading platform, and this depends on the type of broker you are working with. This fee is normally monthly payments. Some brokers waive off this fees if you sustain a certain level of activity on your account.

Lastly, there can be ongoing costs of holding CFDs. CFDs value are updated in your account, and if the position is losing, the margin will be deducted from the balance in your account. If the position keeps on losing, you will get a margin call telling you to put money in your account on an urgent basis. The opposite is also true. If your position is making a profit, your account will be credited with the margin.

AAATrade.com, one of the established European based firms, offers an exhaustive list of CFDs products to trade with. The firm has a different account for the traders of different level. Spreads based account are for the beginners and Commission based accounts are best suitable for experienced traders.

JP Morgan
Company News

JP Morgan Working On Top Secret Digital Banking Programme In London

By 10514 0

The emergence of Fintech and technology into the financial world has been a big jolt to banks that had enjoyed a near monopoly for decades. However, the easy availability of the internet, cheap data plans, and internet-only banks have the potential of completely upending the banking sector in a way that was thought unimaginable even a decade ago. In fact, some of the biggest banks in the world risk surrendering a chink of their market share if they do not move quickly and it seems JP Morgan is currently in the process of taking on that challenge head-on.

According to sources close to the developments, the bank is currently developing a range of digital-first products under extreme secrecy in London, United Kingdom. Moreover, it would also help JP Morgan in gaining market share from its own rival banks that might not have the same level of digital services on offer. Although the sources which spoke to a leading tech magazine could not specify the exact nature of the products that are being built, it has emerged that JP Morgan is hiring personnel with skills in cloud computing and full stack development.

However, it is the secrecy element that makes this an intriguing project. People who are being hired have been asked to sign NDAs (non-disclosure agreements), and JP Morgan is going to run this particular division like an independent startup with no contact with the current tech initiatives that are being pursued by the bank at this point of time. That being said, it is being speculated, that the project in question is possibly a competing product of Marcus, the digital bank that was created by fierce rivals Goldman Sachs. Marcus is engaged in offering savings services and attractive interest rates to the clients. On the other hand, the launch of such a service by JP Morgan will also see it going head to head against companies like Atom and Raisin among others. Needless to say, it is an intriguing project, but everyone will be waiting for the eventual results with impatience.

fintech
Company News

Fintech Investments on Standard Chartered Innovation Fund’s Agenda

By 10331 0

One of the most important developments over the past half a decade or so has been the breakneck speed at which financial technology or Fintech has developed into one of the world’s most important industries. The scope of the industry is immense, and now many of the world’s biggest banks are taking notice of the sector, after being largely aloof to the transformational potential of Fintech for years. In a new development, British banking giant Standard Chartered has stated that its subsidiary SG Ventures is currently exploring options regarding Fintech investments in startups in the financial sector.

The bank is also looking for partners and co-investors in Africa and the Middle East, in order to invest $100 million in at least three such startups. The chief of SC Ventures, Alex Manson, stated that the fund does not want to invest a large chunk of money in one company and are instead looking to help three startups scale their businesses up steadily. As far as partners and co-investors are concerned, Standard Chartered is aware that the Fintech sector is ready for an explosion in the years to come and for a bank of its size, it is only natural for it to invest heavily in the sector. SG Venture has already met with potential clients and co-investors regarding the project, and Manson stated that the potential for growth in the Fintech space is substantial in the UAE.

SG Ventures was established by Standard Chartered with a view to gathering minority stakes in upcoming Fintech companies. The investments are made through the innovation investment fund, which has a corpus of $100 million, and Manson has stated that the entire amount is going to be invested by the end of next year. Nowadays, banks are looking to have a dominant presence in the digital services space, and the investments in the Fintech space is only going to rise in the years to come. In this regard, Standard Chartered is moving aggressively. Manson added,

I anticipate that at any point in time we will have 10 to 15 ventures in our portfolio [in different stages of growth]. But we are at an early stage of building that portfolio.

goldmansach
Opinion & Analysis

Fed Rate Cuts Are Being Overpriced By Markets, Say Goldman And UBS Executives

By 12559 0

Investors almost always look for cuts in the interest rate so that they are able to get capital at a cheaper rate and invest in the market. More often than not, it is something that has always been an expectation from investors, but it is unlikely that they are going to get their wish at each instance. However, over the past few months, there has been a widespread belief that the United States Federal Reserve is readying for a rate cut and much of that has been down to the statements from important officials.

In addition to key officials at that Federal Reserve, the chairman of the central bank Jerome Powell has also made statements that clearly point towards a cut in the interest rates. Needless to say, the stock markets reacted accordingly and went on a sustained upsurge. However, Alex Weber, the President of UBS and John Waldron, the Chief Operating Officer and President of Goldman Sachs, have sounded notes of caution. Weber stated that many traders might have misconstrued the comments from the Federal Reserve chairman and other officials. He said,

If you listen to some of the key decision makers like Charlie Evans if you listen to Jay Powell, there is no imminent rate cut. There is a likelihood, if further weakness, in the data evolves over the second half of the year that they might consider corrective action.

On the other hand, John Waldron was equally cautious about the present optimism in the market and actually stated that he is a bit worried about it all. He said, “The market is pricing in a fairly substantial set of moves by the Fed. I worry a little bit that the market is too optimistic about how much and how soon the Fed will move.” Considering the fact that the statements came from two of the top executives at the biggest investment banks in the world, traders would perhaps do well to listen to what they have to say. However, it remains to be seen whether this optimism proves to be misplaced or not.

su
Stocks

Uber IPO Fails, SoftBank Value Falls

By 19887 0

Uber which changed the way urban transportation was done is troubled by Wall Street. The first day of the Uber IPO trading on the NYSE began with a fall of 7.6% from its Initial Public Offering price of $45. By the end of the day on Friday, the market capitalization of the company was a shade above its $76 billion that private investors put it at and was at $76.5 billion. The ride-hailing company started at $42 for a share down by its $45 IPO. Later it further slid down to $41.06 quashing all the hopes of a successful IPO for its CEO Dara Khosrowshahi who was appointed specifically to work on making the IPO a success.

The reduction in stock prices was a shocker and raised many questions on the fate of other tech start-ups that are about to list their shares shortly. Many Wall Street banks were hired its underwriting, and there is a concern that some of them have miscalculated the actual value and also the risk appetite of investors. Traditionally, tech companies have seen a jump in share prices on the first day of their IPOs. Some big companies like Facebook, Snap, Alibaba, etc. rose in the initial offering. Adding to the woes of Uber was the volatile stock market on Friday with the S&P 500 index on a decline for the fifth day due to ongoing trade tensions between the US and China.

Softbank value slides down
After the Uber IPO failed to take off as predicted the Softbank shares saw a fall of 5.4%. They reported a loss of $9 billion in the market despite a valuation gain that they got from having a stake in Uber. Softbank founder Masayoshi Son who is transforming the company from a telecom operator to an investment firm for tech start-ups has invested $100 billion in Vision Fund, and its stocks have risen by more than 60% in the past year, but the recent slide in its value will not augur well for Son’s portfolio.

Though there is a slide in Softbank’s value due to Uber’s IPO making a fall on the first day of its IPO, market analysts like Tomoaki Kawasaki say “It’s too early to tell how sensitive SoftBank will be to Uber’s price moves going forward. But even if they fall, that doesn’t have a direct impact on Vision Fund profits.”. But some investors are already selling as the debut was not as they had expected.

Business
Stocks

Lyft Warns of Peak Losses in 2019 as Uber Readies for its IPO

By 11327 0

Last month ride-hailing company Lyft had its initial public offering (IPO) amid much fanfare, but within two days the company’s shares crashed after the listing day positivity, and since then the stock has been in a cycle of negativity. In a new development, the company has released some alarming projections that are going to put off potential investors further and perhaps make the current investors think twice about continuing with their existing holding. On Tuesday, Lyft recorded another humungous loss as the quarterly losses stood at a staggering $1.1 billion, but in a more alarming development, the company has also stated that its losses are going to be at its peak in 2019. At the same time, the company went on to state that it is going to cut costs significantly and ensure that revenues per customer are raised.

That being said, the company sounded bullish about its future and Brian Roberts, the Chief Financial Officer of Lyft went on to state that a path to profitability exists. He said, “We are encouraged by the strength of our core business and see a clear path to profitability in ride sharing.” Despite these announcements from the company, it needs to keep in mind that at the time of its IPO, Lyft had stated that it might never actually make a profit and that must weigh on the minds of most investors. The stock never really recovered since its fall on the day after listing and is down 29% from its listing price so far.

However, Lyft’s announcements could also affect its much larger rival Uber, which is all set to have its mega IPO this week. It is going to be the biggest IPO in the history of Wall Street, with the company seeking a valuation of around $90 billion and it remains to be seen whether Lyft’s troubles affect Uber’s listing day performance or not. At the end of the day, they are competitors in the same line of business, and this is only going to be the second IPO for a ride-hailing company. That being said, the interest in Uber from large institutions is genuine, and although the company has stated that it might ever be able to turn a profit, investors could still bet on what it promises.

stocks
Trading News

Asian Stocks Fall To Three Week Low, Oil Prices Reduce Slightly

By 21818 0

Stock markets across the world showed a mixed response, while the Asian shares fell due to fears of a global slowdown due to weak economic data from Germany and South Korea. The oil prices also reduced slightly after it hit a 7 month high earlier this week. The Wall Street stocks rallied as the earnings reports from major tech companies rolled in.

In the market:

Stocks

The Asia Pacific shares broadest index, MSCI fell by 0.5% as the South Korean economic data showed the economy had reduced in the first quarter fueling worries of a slowdown.

The Wall Street swung and ended lower as many companies reported their earnings with some missing the estimates and other like Microsoft posting a surprise profit. It reached the $1 trillion value for the first time predominantly due to its cloud computing. Facebook also beat the estimates for the first quarter. Investors are waiting for other companies to report to know if the stocks will rally.

The Nikkei ended the day with a rise of 0.5%. The Bank of Japan announced that it was in discussion to introduce a facility to expand its monetary policies by lending the traded funds. The announcement did not help the Nikkei as there was no consensus among the traders about what the move meant was it to improve cash or liquidity of the stock market. Leading strategist at Mitsubishi said ‘This is one technical move I would assume aimed at lack of liquidity in the stock market. I wouldn’t consider it as a monetary policy’.

Currency

The yen ended a little higher as the Bank of Japan decided to reduce the interest rates to as low as possible until 2020. The dollar index against six major currencies was at 98.189 and was down by 0.15%. The euro was steady at $1.1157 and the pound was at $1.291 hitting a two-month low. The Canadian dollar was also reaching a 4 month low and was at C$1.3488 for a dollar as the Bank of Canada reduced the growth forecast.

Commodities

The Brent Crude futures were at $74.75 for a barrel a rise of .25% and the WTI crude futures remained at $65.93 for a barrel. The oil prices which reached a 6 month high earlier this week continues to remain in that range as there were reports that the US will stop waiver to all countries importing oil from Iran. Moreover, the OPEC has already cut supplies which have added to the price rise.

Business
Stocks

Chinese Starbucks Rival Set to Raise $800 Million in US IPO

By 14652 0

Over the last two decades, many Chinese companies have become major players in industries that have traditionally been dominated by household global names, and in a new development, Chinese coffee house chain Luckin Coffee Inc and Starbucks’ rival is gearing up for a mega Initial Public Offering (IPO). However, what is even more interesting is the fact that the company is going to have its IPO at the stomping ground of its much bigger rival, the United States. According to sources which are close to the developments, the company is looking to raise as much as $800 million in its IPO in the US and have already set $100 million as the place holding the amount in its filings with the Securities and Exchange Commission. However, sources have revealed that the actual IPO is going to be a much larger one.

The sources who are aware of the developments have stated that the company is looking to raise a minimum of $500 million from the IPO, with the maximum target remains $800 million. That being said, the company has not yet revealed the number of shares which are going to be put on sale on the day of the IPO. It is a very exciting time for the company as it raised a staggering $150 million in its latest round of funding and is now valued at $2.9. However, with the IPO, they are targeting of valuation to the tune of around $5 billion and needless to say, it is all set to be one of the biggest listings in the US this year once trading goes live on the stock.

The reason behind listing in the US instead of places like Hong Kong is perhaps the fact that it has not yet turned a profit ever since it first opened for business in 2017. It is a well-known fact that most bourses outside of the US are far more conservative in nature and investors are reluctant to bet big on companies that can’t show profits, irrespective of the prospect of the business. However, when it comes to the US, that is not often the sole focus, and the potential investors try to work out whether the company in question can grow or not. In that regard, Luckin is in a good position since the company has grown at a tearing pace over the past few years and the number of cups of coffee that is being sold each day has grown exponentially. Last year, the company sold 8.7 billion cups, and they expect that figure to balloon to 15.5 billion cups in the next four years.