Category Archives: General Posts

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Introducing the FX Global Code of Conduct

The Forex industry has long been plagued with complaints of improprieties on behalf of brokers, despite the heightened regulation and increasing number of watchdogs whose goal is to supervise brokers and to make sure that they act within accepted legal and ethical guidelines.  To protect Forex traders and to keep brokers on the straight and narrow, the FX Global Code of Conduct was launched in May 2016 as a precursor to the document that was released earlier this month by the Bank of International Settlements.

The code is designed to create a fair, liquid, open and transparent market where traders are protected and supported by a solid industry infrastructure.  The Global Code was developed by a partnership between central banks and Market Participants from 16 jurisdictions worldwide.  Among the guiding principles are:

  • Market Participants are expected to behave in an ethical and professional manner to promote the fairness and integrity of the FXM Market.
  • Market Participants are expected to promote responsible engagement in the FX Market and to have an effective governance framework to provide for comprehensive oversite of their activity.
  • Market Participants will comply with laws and regulations applicable to them in the jurisdiction in which they do business.

As it stands, the Global Code is meant to include Market Participants which are outlined as all persons or organizations engaged in the Forex market including, but not limited to organizations such as financial institutions, central banks, asset managers including sovereign wealth funds and hedge funds, non-bank liquidity providers, brokers, trading platforms, money changes and money services.  The Global Code confirms that all Market Participants will act in an ethical way and to be aware of potential conflicts that will need to be resolved with professionalism and care.

The initiative is a good one – there is certainly room for additional oversight and a commitment to moral activity within the Forex industry.  However, we question whether the initiative will be successful on the global level as there may always be brokers who are likely to engage in unscrupulous behavior in an effort to dupe innocent traders out of their money.  For this reason, we suggest that in addition to engaging a code of conduct for Market Participants, it is also critical for traders to know their rights and to understand that such a Global Code exists, so that they insist upon choosing a broker or other financial service provider that will maintain the highest standards of ethical and professional integrity.  Only with proper education on the traders’ side and honorable intentions on the side of Market Participants, will we be able to make strides against Forex fraud.

Math Skills are Needed to Move Students Ahead

The average youth today has given up on understanding the mechanics of mathematics. It just doesn’t talk to them. Why is that? Their aversion to the subject may start as early as the second or third grades when the multiplication tables are first introduced and studying them takes just too much effort. And this is followed soon after by division and geometry, subjects that don’t seem to have any relevance to most teens. Continue reading

FXTM Announces its New FXTM Web Trader

FX Retail Forex broker time (FXTM) has launched the FXTM Web Trader, a new browser-based trading platform that is suitable for traders of all levels.

The FXTM Web Trader can be used on any device or personal computer, making it easy to operate from anywhere with an internet connection, mobile phone or Tablet. With the new web-based platform, traders can quickly and easily access completely customized graphics that are multilingual and have a simple one-click execution.

The FXTM Web Trader is available for MT4 accounts. The new application is part of the rapid expansion of the company and offers even more features than then it has to date such as the “trading windows” key that opens unexpectedly when there is important market news making it beneficial for traders who want to take advantage of market events before placing their trades.

“At FXTM, we are constantly improving our products and challenging technical limitations so that our clients can maximize the value they get from their most precious commodity, which is of course time”, said Head of Dealing of Forex Time, Charis Mountis.

The FXTM Web Trader is flexible and mobile and investors are in total control of the entire trading process especially with unexpected market volatility as traders can access fully-customized charts quickly and easily.

FXTM is an international Forex broker headquartered in London, UK with offices in many other parts of the world.

Why Retail Traders Fail

70% of all retail Forex traders lose money. The good news is that by sticking to a few rules, you can put yourself in the 30%, and then work on increasing your profitability. The reasons why retail Forex traders lose money, and what they can do to become more profitable, are well known by the professional Forex community and are detailed in the infographic below.

 DFX Infographic

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Oil Prices are Dropping; Lower Prices at the Pump

Summer is over, schools have reopened and summer activity is winding down. Along with this emotional and physical slowdown, we are finding a pleasant surprise at the gas pump. For those who have not been paying attention, the price for a gallon of gasoline has been steadily dropping and analysts are predicting that prices will go even lower at least until the end of 2014.

The national average for unleaded hit a summer peak of $3.75 in July. Since then, it has been dropping steadily and some analysts are predicting that it may dip below $3.00 before next year. If it goes that low, consumers will see a discount of about 76 cents per gallon from the July figure.

For every penny gasoline prices fall, $1 billion in cash flow is free to go elsewhere in the economy and that’s a lot of loose change. Combined with a decline in driving which usually comes with the onset of winter, lower gasoline prices could help American drivers save $13.1 billion in the fourth quarter, money that could go to other areas of the GDP.

Crude Fluctuations

One of the primary reasons why gas prices rise or fall is the fluctuation in the price of crude oil. U.S. refineries buy several million barrels of oil every day to supply its economy, so even small price changes make a big difference. When crude oil prices go up or down, gas prices tend to follow. And right now, oil prices are on the decline.

In fact, oil prices have dropped to around $95 a barrel last week despite unrest in various regions overseas which doesn’t seem to have had much bearing on oil-producing and exporting areas. Prices are falling even in light of what is taking place in Iraq. For crude prices to feel an impact, a disruption of oil shipments or oil production would have to take place and analysts do not foresee this happening in the very near future.

Events across the globe continue to contribute to the fluctuation in gas prices. Concerns regarding the Middle East have eased somewhat and a U.S. military strike in Syria also appears to be less of a possibility, now that the international community has moved in to eliminate that country’s stockpile of poison gas weapons. In addition, oil is again flowing through a critical Libyan pipeline that was shut down earlier this year by striking militias.

In fact, for the first time in several years, oil is traversing the globe on tankers looking for markets. This surplus of oil can’t stay afloat for much longer. According to Eric Lee, a Citigroup energy analyst, “There’s as much as 30 million barrels sitting on floating storage, and it’s got to go somewhere at some point.” Lee’s long-term forecast for Brent is $70 to $90 per barrel, and it seems to have started this descent.

Investor and Producer Woes

What’s good for the consumer, however, is not always beneficial for the investor. Equity holders must stay on the ball if they are to continue to reap profits from oil stocks. The outlook for oil is bearish with the market more negatively tilted toward Brent than West Texas Intermediate. Brent crude, the international benchmark, sunk below $99 per barrel Thursday, while WTI, representing U.S. light sweet crude, edged higher to $92.83, after touching a low near $90. WTI could drop to $85 per barrel or even lower by year’s end. At $85 for crude, gasoline could hit $3.

The lower price forecast may also prove worrisome to gasoline producers. The strengthening of the U.S. dollar combined with weaker growth in Europe and other areas of the globe may prove detrimental for gas producers who worry that they will have to cut back on production in order to keep prices steady.

Strangely enough, the biggest factor easing worries over global oil supply is the increasing production of U.S. crude coupled with very moderate demand south of the border.used water slides

Bank of America estimates that the U.S. has overtaken Russia and Saudi Arabia to become the world’s largest producer of oil and gas, primarily because of oil from shale. U.S. total crude oil production, which averaged 7.4 million barrels per day in 2013, is expected to average 8.5 million barrels per day in 2014 and 9.3 million bbl/d in 2015. As a result, the need for imported oil will fall from 60 per cent of total U.S. oil use in 2005 to 22 per cent in 2015.

All this is may be little interest to the average automobile owner whose main concern is how to find the lowest price at the gas pump. For the next few months at least, we should be able to look forward to lower prices so let’s take advantage of this windfall and keep filling up that tank.

 

 

DailyForex Launches New Mobile Forex App

The DailyFForex News and analysisorex team is excited about the launch of the new Daily Forex mobile application. The previous application, which went live back in March 2012, has been very useful, and the new mobile app is designed to be more efficient and to fix some of the bugs that were present in the original app. The new app offers everything the old one did as well as some new features.

The revised application continues to present financial news reports and has options for viewing both fundamental and technical analysis. There is a large selection of informational articles geared to both beginner and advanced traders. For those who have trouble reading the small print, clicking on an image inside an article will open the commentary in full screen.

Forex News and Analysis Android App - version 1.03

Forex News and Analysis Android App – version 1.03

Access to several other pages on the site is quick and responsive and free alerts from successful traders are only a click away. The mobile application can be customized according to a trader’s needs so he or she can receive market updates and news as frequently as desired. All in all, the new DailyForex app is functional and simple to use. It is still free of charge and is easily downloaded from the DailyForex website or from the Google Marketplace.

Download this mobile Forex app now for free!