Top 5 Bonuses for April 2015
Check out the table, below, to find the top forex bonus offers available to you, today.
Check out the table, below, to find the top forex bonus offers available to you, today.
|FSA (UK)||Min. Deposit : No Minimum Max. Leverage : 300:1||95%||Up to £10,000|
|FCA (UK)||Min. Deposit : 100 Max. Leverage : 400:1||93%||Up to £6000|
|Financial Conduct Authority, ASIC in Austraila, CySEC||Min. Deposit : €100 Max. Leverage : Shares Up to 1:20 Forex Up to 1:200 Indices Up to 1:200 Commodities Up to 1:100 ETFs Up to 1:20||89%||$300|
|Central Bank of Ireland, MiFID, ASiC, BVI||Min. Deposit : $100 Max. Leverage : 400:1||86%||$300|
The inflation figure stood at a very impressive 0% in March, 2015. Despite apprehensions of the market, the CPI index gave great relief when it shied away from edging in to the negative turf.
However, there could have been a profound impact on the economy had the CPI dropped below the zero mark. Negative speculation would have flooded in to the market.
A common speculation would have been the fact that a negative speculation would have entranced the economy and that would have resulted in the Bank of England to make changes in the monetary policy.
Market summary of foreign exchange as per 19th April 2015 is as follows.
Interest rate Forecast for 2016
The interest rate for the UK market is looking bright with a possibility to go up as the futures market is expected to take a hike in early 2016.
On the other hand though, Bank of England will not be very motivated to increase the interest rate as the rate of inflation is well under control.
Outlook of GBP to USD
The exchange rate records are the lowest in five years. The result had quite an impact because the Feds were expected to hike the rates in the third quarter of last year.
Similarly, the Pound to Dollar rate is also at a record low in five years. It was hovering around the 1.46 mark last week. The CPI data indicated that the UK currency found support at that point before putting up a brilliant show on account of the poor show due to unexpected data which pushed the USD. This happened later in the day.
The result of retail sales in the US was encouraging and rose for the first time in over a quarter. As the current figure stands, the retail market sale is up by almost 0.9% than the forecasted result. This when compared with the previous quarters forecast is way brighter since the result ended up at 1.1% below the forecasted result.
Possibly Bad time for the USD!
The Feds have clearly suggested that a call on the hike of any possible interest rate will totally be dependent on the data. A hike in rates, therefore, will depend on many economic reports that are likely to be published in the coming days.
For instance, the last quarter sales could not match its target only by 0.2%. This, however, did not stop traders in selling their shares and benefitting from their profits.
The possibility of a rate hike in the month of June this year stands a 7% chance, but the hike in September looks more probable and realistic.
At the moment, various exchange platforms such as P2P, more commonly known as Peer to Peer as well as equity crowdsourcing have been taking a major chunk of money as commission from the industry.
The P2P option has become increasingly popular over the years owing to their less commission rate. Since the money is crowd sourced, these agencies charge a flat commission as compared to a bank that charges anywhere in the range of 3% to 5%, along with a fixed transaction fee.
Compare this to a 0.5% commission rate of a P2P agency, and it’s quite easy to see why this has emerged as a popular option in the market.
While banks claim a secure platform and good service, many customers are turning their back on them. The exchange rate fees are on the higher side.
Transferwise, in a very few years has become the biggest player in the P2P fund transfer market. In fact, the present campaign of the company advises customers to stay away from hidden charges and over-priced rates of various banks.
In an exclusive interview, Hinrikus, the CEO of Transferwise remarked that the company was started out of his own frustration. Being from Estonia, he had to frequently take the help of exchange facilities from financial institutions. He was repeatedly getting a poor deal!
He further remarked that they possess 0.01% of the world market. He is planning to shift his company’s head office to the USA from England. This decision has been coined after the arrival of the latest funding from the VC group who has backed Twitter, Airbnb and Facebook in its earlier stage of inception.
Prior to this, the company was backed by Valar Ventures with $6 million. The second partner of the group, McCormack also said that exchange is one of the few areas of the retail banking where consumers get ripped off by reputed banks. Consumers get very few options in this regard.
Another major player in this market, CurrencyFair estimates that they will help customers complete transfers worth an estimated $250 billion by 2017. CurrencyFair roughly estimates that the P2P market is growing at a CAGR of 500% year-on-year.
The company has helped their customers to save a collective amount of $135 million since their inception.
Meyer, co-founder, CurrencyFair stated that his company would be eyeing customers who make transactions through the top four banks in Australia. Meyer also stated that Australian banks could charge more to their customers because the trust factor among the customers is more as compared to other countries.
With a million dollar funding on its way, the company is planning to double its headcount very soon.
However, analysts believe that there is a great amount of risk involved when consumers use these P2P agencies as compared to conventional banks. Small amounts are the most vulnerable when it comes to these agencies since tracking becomes extremely difficult.
According to Bank of England’s chief economist, things can move in any direction for the British Sterling.
In 2014, there was a lot of speculation about when the UK would see the first rise in rates after 2009, but no one seemed to discuss the possibility of the interest rates going in the opposite direction.
Pound Against the Pack
After surprise remarks by Andy Haldane, the pound lost 0.5% compared to the Euro and Dollar last week.
This has again determined the unpredictable nature of exchange rates. The remarks of Haldane caused a fall of the pound against other popular currencies like the Australian Dollar, Kiwi Dollar, Canadian Loonie and Rand.
Last year, Sterling was higher than the other currencies and showed a growth of almost 6% than the Australian dollar, 4% against Kiwi, 1.5% against Canadian Loonie and 1.3% against the Rand.
Since the UK financials have overtaken its commonwealth peers and is not dependent on commodity pricing, the Pound has highly benefitted.
Last week, the OECD mentioned that in the G7 nations group, the UK will be the firmest growing economy with a growth of nearly 2.6% this year.
Currently, there seems to be some weakness in the market and hence, has paused for a bit before the change in its status during the UK elections.
Commodities and Currencies
Hard commodity-backed currencies are ones that are dependent on main exports of oil, gold and various minerals. An example of a soft commodity backed country is New Zealand as majority of its exports are in dairy products.
Since last year, the commodity prices have sunk. The main reason for commodity currency decline is the global slowdown in demand for the various natural resources and China’s economic slowdown with a weak Eurozone as well.
Previously, China showed a voracious demand for commodities, which has now crumbled. This, however, will ideally support the sterling, as per Charles Purdy from Smart Currency Exchange.
However, China will still have a high demand for dairy products coming from New Zealand. So, it will definitely be a positive thing for the New Zealand Dollar. Canada will also benefit with the growth that is forecast in the American economy.
Mentioned below are the forecasts for different currencies.
The Australian Dollar
The RBA cut its rate of interest to 2.25% (a record low) last month and with its plan of cutting rates even further, the rate is forecast to be at 2%.
The Kiwi Dollar
To buy the NZD, it would be ideal between 2.07 and 2.10 and to sell the same, 1.90 would make sense.
The Canadian Dollar
The Loonie saw a six and a half year low in February 2015 compared to the Pound due to a rate cut from the Bank of Canada sometime in January 2015.
The South African Rand
Since January, the Rand has been weak and is at 9% against the Pound and continues to decline.
As per records, this is the maximum trade deficit and it is mainly caused as there is a major fall in exports. There is also a general decline in commodity pricing and the unemployment rate is currently at 24.3%.
As per these people, New York base, Citibank and London based, Barclays will together pay a large amount of $800 million in order to settle the law suit. This represents bigger payments, almost double of what JP Morgan Chase & Co. and UBS AG have settled in the same law suit.
Currently, it has not been determined how much Citibank and Barclays would be paying individually.
In the law suit, the plaintiffs include some other investment firms and pension funds. When asked for a comment, the representatives of Citibank and Barclays refused to make a statement.
In the global investigation against big banks for their alleged rigging in currency rates, this settlement would probably be the biggest wrinkle.
Big banks like Barclays and Citibank are continuously in high stake negotiations with the US Justice Department (DoJ) and regulators with whom they are facing similar allegations.
The Wall street journal has previously reported that the DoJ has pressed these banks to plead guilty to the criminal antitrust charges against them.
According to people who are aware of the situation, government negotiations could probably charge the banks much more as the DoJ is asking for almost $1 billion from each bank.
Citibank has already agreed to pay $1 billion combined in November in order to settle the foreign exchange charges with the US Commodity Futures Trading Commission, Office of the Comptroller of the Currency in US and the U.K.’s Financial Conduct Authority.
Other banks, including JP Morgan and UBS, are also known to negotiate settlements with these agencies and they did not dispute the regulator’s findings. Barclays did not participate in the negotiations and did not settle.
Trading and the Traders
Citibank has the largest share of foreign exchange market with 15% daily currency trades. They are followed by Deutsche bank AG, and then by Barclays with a 10% market share.
Both the banks in question have suspended various traders that were connected to the currency trades investigation, which began in London in April 2013 by the FCA UK.
The private lawsuit was filed in late 2013 by investors in the US, Caribbean and pension funds who have accused several banks of sharing confidential client information through electronic chat rooms and then using the information to make money at the client’s expense.
The investors have mentioned that they were harmed by participating in foreign-exchange transactions with the banks. According to the lawsuit, the traders are a close-knit group belonging to the same social circle that play golf together, dine together and are also a part of many same charity boards.
JP Morgan was the first bank to settle the lawsuit. It is definitely not a common practice, when a lawsuit against many companies have been filed, that one actually comes forward to try and broker the best deal.
So, JP Morgan’s decision has caused certain turmoil among other banks.
This case is currently pending in Manhattan and will soon see a settlement from Citibank and Barclays as per recent developments. Everyone connected with the case wait with anticipated breaths to see what’s the final outcome!
Internaxx was acquired by TD Bank Group in 2010 to become what is now known as TD Direct Investing International. The compay was founded in 2000 as a joint venture between TD Waterhouse and Banque Generale du Luxembourg. It is a market maker that is based in Luxembourg and is regulated by the Commission de Surveillance du Secteur Financier (CSSF); it is also a member of the Luxembourg Association for the Guarantee of Deposits (AGDL).
Internaxx is one of the few brokerage houses that provide a one-stop shop for the trading of forex, futures, stocks and other financial instruments.
TD Direct Investing International (Internaxx) enables its clients to conduct transactions from its secure website. A computer system that is connected to the internet, with a web browser that has SSL3.0 and the Java Runtime Environment (JRE) enabled is all that is needed to carry out trading operations.
Traders with TD Direct Investing International (Internaxx) have access to live market data from 18 different markets, which necessary to carry out market analysis, advanced interactive charting features, and the ability to create a large number of watch lists for up to ten stocks each.
Deposits and Withdrawals
Deposits and withdrawals can be made on TD Direct Investing International (Internaxx) through Wire Transfers and Check deposits.
There is no minimum deposit requirement given on TD Direct Investing International (Internaxx).
There is no maximum deposit given on TD Direct Investing International (Internaxx).
Minimum Trade Size/Amount
The minimum lot size is not given.
Maximum Trade Size/Amount
There is no maximum lot size given.
Minimum Withdrawal Limit
There is no minimum withdrawal limit given on TD Direct Investing International (Internaxx).
Maximum Withdrawal Limit
There is no maximum withdrawal limit.
Conditions for Deposit and Withdrawals
Third party withdrawals are not allowed.
Customer Support on TD Direct Investing International (Internaxx) can be reached through the following means:
a) General Enquiries and Information
Phone: +352 2603 2003
b) Client Services and Stock Trading
Phone: +352 2603 2626
24Option is one of the world’s leading Binary Options providers with clients across the globe enjoying the simplicity of its services. The company was founded in 2010 and is based in sunny Cyprus where it is regulated to European standards. 24Option not only offers its clients access to one click forex trading, but covers other markets including oil, gold, stock and a number of popular indices.
When you first deposit with 24Option, you will be given a bonus of 100%. The amount of this bonus varies from time to time and the best thing to do is to sign up for an account and speak to your designated account manager to get the best deal.
Click here to register for the bonus now.
24Option’s trading platform is a typical web based binary options platform that is simple and easy to pick up, even by traders that have never used binary options. Simply choose the asset you want to trade, the expiry of the option, the value of the trade and whether you think the price of the asset will go up or down.
The trading platform is available in a number of languages including English, French, Portuguese, Arabic, Italian, Japanese, Spanish, and Turkish.
The main disadvantage of using a binary options platform over an out and out forex trading platform is that it can be considered TOO simple for some. You don’t have access to charting and technical analysis packages and there aren’t really many features worth mentioning. This is done as part of the design though as binary options are supposed to be extremely easy to use and therefore the platform needs to be clutter-free.
The payout on offer by 24Option is dependent upon the trade in question. It can vary from 70-85% and forex tends to be nearer the top of that range. Before a trade is confirmed, the platform will tell you the return that will be given to you, if your option expires ‘in the money’.
24Option provides a trading experience that is straight forward for anyone to use, for both the beginner and experienced trader.
Formerly known as Trading Point of Financial Instruments Ltd, XM Markets is a leading financial derivatives broker based out of Cyprus. The company was started in 2009 by a group of interbank dealers and now has a global reach of over 180 countries.
XM operate their financial services for trading on forex, and futures with firm commitment to their corporate values and business standards, and in strict compliance with their regulatory environment:
A few highlights:
When you sign up for an account, XM will credit you with a bonus worth 30% of your first deposit. The bonus money is credited instantly and there is no need to worry about contacting customer services (you normally need to with other brokers).
Click here to register for an account and claim your bonus now.
No matter whether you sign up for a real or demo account, you will be granted access to a number of cutting-edge trading platforms. Each platform has its own features and benefits and as standard, you will find limit, stop and trailing orders that can be placed online or by phone.
For those that like to trade on the move, XE Markets offers a mobile trading platform that can be used wherever you are, on your smartphone or tablet.
The leading standard for forex trading incorporating technical analysis, steaming prices, financial new and MUCH more.
Trade in a web browser without needing to download software.
Control multiple accounts from one platform.
Ever heard of social trading? Zulutrade allows XM customers to copy other successful traders and take advantage of their success.
When you sign up, depending on how much of your base currency you deposit, you will be allocated one of the following account types:
Besides, clients have unlimited access to free forex signals provided twice a day with entry, take profit and stop levels and with a coverage of 10 financial instruments (EUR/USD, GBP/JPY, USD/JPY, GBP/USD , EUR/JPY, AUD/USD, GOLD, DOW, NIKKEI and OIL).
If you want to learn how to trade forex or you would like to sample XM’s platforms before you deposit, it is worth signing up for the demo account. When you sign up for the demo, you will be able to use all 8 platforms that company offers and will be credited with $100,000 of virtual money to trade with.
XE Markets offers a high quality service with robust, feature rich trading platforms, competitive spreads and excellent customer services. If you are looking for some bonus money to go along with your new forex account then XM’s 30% bonus offer is certainly worth checking out.
AVATrade was formed in 2006 under the name AVAFX and has recently rebranded to its current form and now offers not just forex but Indices, stock, commodities and more. Although the company is offering a more diversified range of markets, it is still one of the most popular providers of forex trading services in the world.
All new clients that register and deposit with AVAFX are eligible to take advantage of its introductory bonus. This bonus is worth up to 50% of the deposited amount – for more information on what’s available, please check out the table below:
To register for an account and to claim this bonus, please click here.
At the same time as rebranding, AVAFX also incorporated new features into its trading platforms. There are now a whopping 8 platforms to choose from with each providing its own features and benefits.
Meta Trader 4
MT4 is the industry standard for forex trading and many people consider it a necessary part of their trading lives.
Meta Trader 4Floating Spreads
All the features of MT4 with the added benefit of lower spreads obtained through the interbank market.
If you like to trade on the move then you’ll be glad to know that AVATrade offers AVATrader and MT4 smartphone apps.
Trade in an internet browser, on your PC, Tablet or smartphone. There is no need for software downloads to receive high speed trade execution.
The Mac is notorious for not being supported by many software providers. This isn’t the case though as they have developed a platform to be used exclusively with the Mac!
AVATrades exclusive FX options trading platform.
Benefit from advanced charting, a live news feed and more with AVATrade’s in-house forex trading platform.
Depending on how much you deposit, you will be awarded one of the following statuses:
Silver (minimum deposit of $100)
Gold (deposits greater than $1000)
Platinum (minimum deposit of $10,000)
AVATrade offers a demo account that allows clients to trade exactly how they would with a live account, but using virtual money. If you are new to FX trading then we would strongly suggest you start here – what better way to learn the ropes than to do so in a risk free environment. The demo account is also an ideal way for those people that want to test the platform before they deposit real money.
Register now to receive $100,000 in virtual money and for access to a variety of features.
Unlike some brokers, AVATrade allows accounting funding to be made using a wide variety of methods. The flexibility on offer here really is second-to-none. The following are accepted:
Cusstomer services at AVATrade are second to none and can be reached over the phone, on live chat and by email. It is open 24/7 and services the following languages:
If you are looking to trade on the foreign exchange markets then in our opinion, AVATrade is one of the best services on the market. Not only does it provide Meta Trader 4 as standard, low trading fees, multi lingual customer services and prompt withdrawals, it also offers an excellent introductory bonus worth up to $3000.
Thanks for reading our AVAFX review. If you have used the company before and would like to tell the world about your experiences, please feel free to leave your comments below.
Plus500 Ltd is a leading broker based in London, UK. Regulated by multiple authorities, it offers a completely secure and reliable platform to trade forex, CFDs, indices, stocks, exchange traded funds, and commodities. It is registered with the Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) and Cyprus Securities and Exchange Commission (CySEC). Being listed in the London Stock Exchange, the reliability of Plus500 is unquestionable.
Unlike other brokers who offer different kind of complex trading platforms, plus500 offers its customers only one in-house developed trading platform. It is available in three different versions.
* Web-based trading platform
* Downloadable software
* Mobile trading platform
Users can seamlessly switch between different versions without any data loss. Unlike MT4, the platform is not overloaded with information. Instead it is simple and provide only real-time necessary information needed for a profitable trade. It also has a charting software where charts appear individually helping traders to open positions strategically. Being simple, this no-frill trading platform is perfect for new traders allowing them to trade in different markets and in different instruments from the same screen.
Types of Accounts
Plus500 offers two types of accounts. First is unlimited demo account and the other is live account. As the name shows the demo account is a free account and is only meant for the traders to practice their skills. Though the trades executed are real but the money invested and the profit gain is virtual. Second is the live account that requires a minimum deposit of $100. As an incentive, plus500 offers $20 bonus on demo and live account. Moreover it also offers bonuses on initial funding
Plus500 allows traders to deposit funds either by wire transfer, Moneybookers or major credit cards, whichever is convenient for them. However for funds withdrawal, the traders must have to show a Photo ID that can either be a passport, license or any other valid document.
Plus500 provides no-frill trading services. It does not charge any commission on the executed trades. Instead it only charges spread as low as 2 pips on the executed trades.
To the disadvantage of customers, Plus500 does not offer chat or telephone support. However, it offers a quick 24/7 E-mail and Fax customer support in multiple languages. The email queries are answered quickly within 30 minutes.
Plus500 is a well regulated brokerage that can be relied for investment. Although it lacks prompt customer support and does not accept US clients, still it makes a good choice for new traders as it offers a simple and intuitive trading platform for multi-asset trading.