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The United States dollar has reportedly appreciated to levels last seen 20 years ago and shows no signs of slowing down. According to Capital.com, “The ICE US Dollar Index (DXY) – a measure of the currency’s strength against a basket of rival currencies including the euro (EUR), Japanese yen (JPY) and British pound (GBP) – stood at 109.5 on 19 September 2022. The index was up over 14% from the start of the year, but down marginally from the 110.51 mark reached on 7 September – its highest level since 2002.”
The Federal Reserve, the US central bank, is giving further steam to the greenback through its aggressive interest rate stance. The Federal Reserve has raised interest rates a total of four times during 2022 for a total of 2.25 percentage points.
The result is that investors are piling into the US dollar, salivating into the fray as they chase …
M-Pesa, a payment solution provider that began operations in 2007, has proven to be a game-changer in the financial services industry. With over 100 million subscribers, this is a massive financial ecosystem, and it is so surprising that M-Pesa won the award for the best successful payment system in developing countries. Users can use the app as an e-wallet and make deposits, transactions, withdrawals, and other payments via the payment solution. M-Pesa has regulations best suited for each territory it operates in. This adaptability has made it the ideal platform for a range of digital payments, including Forex trading.
Since M-Pesa is the most extensive digital payment system in Kenya, most M-Pesa Forex brokers have embraced this platform. Several reputable international Forex brokerages now accept M-Pesa payments. The M-Pesa system’s ease of use and accessibility for its users promises to be …
Forex Trading Guide in South Africa
If you seek detailed information on how to trade forex in South Africa, we are here to teach and guide you as a beginner trader into the wonderful world of forex trading.
The reason behind the craze among the people for forex trading is that it is one of the most liquid markets in the world. On average trading, amounts exceed $5 trillion every day in the forex marketplace. In South Africa, trading amounts exceed $80 Billion (approximately R120 Billion Rand) on a daily basis.
In South Africa, there are many trading rules and regulations placed to minimize Forex trading risks. These rules and regulations are placed by the South African Financial Sector Conduct Authority (FSCA) which is formally known as Financial Services Board (FSB). FSCA is responsible for controlling all financial activities in the country. Through FSCA all the Forex brokers …
Forex trading is not something new to financial players nor is it a trend of recent past, its growth between business and financial players has continuously proved its popularity among the retail traders for over a decade now and counting, thanks to technological advancements and low barriers to entry. You or your friend might have been interested to for a while now to join the Forex trading but for one reason or the other you don’t know the dynamics involved in the trade [of the Forex market]. Well here is an introduction to aid you through, it will help you decide whether Forex trading is right for you or not.
Definition Of Forex Trading
Forex trading is one of the most popular markets to trade. It is easy to start, and you can take advantage of a market that is open 24/5. All you need is knowledge of what makes …
Forex Market is a global financial market where currencies are traded and exchanged. Retail investors can participate in this market for the purpose of speculation or hedging.
Trading in the forex market is especially popular in Africa, and the market is regulated by CMA in Kenya. Lower barriers to entry for investors, and entry of more regulated players in the industry has led to growth in CFD trading & forex trading in Kenya.
The Covid-19 pandemic has led to a huge surge in the trading volume in Africa. But most retail investors are unaware of the risks associated with CFD & forex trading, and this puts them at risk of losing their capital or even more.
We look at the state of local online forex trading industry since it has been regulated and the risks that online forex trading pose to retail investors.
Growth and Concerns
Kenya based broker comparison …
Forex trading is the buying or selling of currency on the international currency market.
Forex trading aims at extracting profits from the price movements of the currencies. Therefore, forex traders aim to make money from buying a currency at a low price or exchange rate and selling at a higher price. It involves two currencies while the trade is facilitated by a forex broker.
Traders often use margin trading to speculate on currencies, risk factors increase due to the involvement of leverage and margins which leads traders to risk even more than their invested amount.
Forex trading determines the exchange rates of all global currencies and is the largest financial market in the world with daily transactions of $6.6 trillion. Forex trading has high liquidity, operates 24-hours, has low transactions costs, easy to use platforms and has fast-paced regulations.
In the past foreign exchange market was limited to …
The impact technology has on our world is profound and, some might say, immeasurable. Outside our personal lives, it continues to change industries and global markets at a rapid pace every single day. Foreign exchange, or forex, is one of those financial institutions that are evolving with groundbreaking advancements. But before we can fully appreciate the effects of disruptive technology on forex today and possibly the future, we have to look at how it began.
How Forex Was Traded in the Past
Trading forex is as old as the history of civilizations. In ancient times, people exchanged goods and services for a price, even if that price was represented by raw materials or food. The problem was assigning value fairly — people disagreed on whether or not the items being bartered were equal to each other. To solve this, Thought Co. points out that early civilizations developed commodity money and …