What is The XM Ultra-Low Account?
XM Global Limited is a company with a lot of experience in the field of Forex trading. The site is regulated by multiple reputable organizations like the CySEC and the International Financial Services Commission. Needless to say, variety is something that is evident through the different aspects and properties of the site.
In this article, our primary objective is to focus on the Ultra-Low account type and give you extensive information about it. Therefore we will be discussing account types available on the site.
So everyone’s thought in mind would be that what is the Ultra-low account? Well to sum it up and say it in the simplest terms before we dive into the vast information about it, we can categorize it as an account type designed for beginner traders
XM Ultra-Low Account vs Other Accounts
Besides the XM Ultra-Low account, there are three more distinctive account types available on the site. These are the standard account, micro account, and the shares account. All offering a variety of features.
The XM Ultra-Low account is the most advantageous account type on-site compared to anything else we could find on the broker’s website. One can find trading accounts with distinctive and exceptional trading conditions. With any of the account types, one has unlimited access to the offered trading platforms which include both MT4 and MT5. Execution quality is the same for all of the available accounts.
Accessibility is the common feature all of the accounts do share which is incredible as any account user can take advantage of the multilingual support team and take advice from the personal account manager. Also, negative balance protection is in place for all of the account types.
There are no commissions for the standard, Micro, and Ultra-low account types. Also, an Islamic account is an optional choice for these types of users. The only time you do have to pay a commission fee is if you use the shares account. The distinctions that are very clear between the accounts are their base currency options which are unique to each account type.
XM Ultra-Low Trading Features
A company is as good as its products and services. In the case of a Forex Broker, we could say exactly the same about the trading features which it offers to its consumers. Specifically, we are going to focus on the XM Ultra-Low trading account and all its features that are incredibly useful and innovative. A defining feature of any Forex brokerage firm is the leverage ratio, spreads, and currency pairs. Additionally, other important factors are the contract sizes, available asset types, and many more.
The XM Ultra-Low account has the most optimal base currency options. Unlike its counterparts, it doesn’t have too many options or not enough. There is a perfect amount of options for the consumer to choose from. Only the most popular currency pairs are available for the users of this account type. The available base currencies of the Ultra-Low account are the following
These six currencies are the most common and popular not only on the XM site but also among other brokerage firms.
Contract Sizes are a way to measure the amount of investing capital deposited by the trader. It’s a great way to know what one is planning to do. For the XM Ultra-low account, there are multiple contract sizes. For standard Ultra-Low per lot equals 100,000 and for the Micro Ultra, one lot amounts to 1,000.
Contract sizes vary by asset type, usually, it is standardized by financial firms. By using it traders and brokers make the market much more transparent, clear and efficient without doing much additional paperwork. Over-the-counter trading is a great example of when contract sizes are used for everyone’s benefit.
A brokerage firm is only as good as its defying features. This includes the leverage ratio offered for its accounts. The minimum leverage ratio for XM ultra-low accounts is 1:100, the maximum amount is 1:200. This is a perfectly great range as most regulatory bodies do have certain limitations and the firms who are regulated always follow the regulations. We have already discussed the fact that XM is a regulated brokerage firm therefore the leverage ratio provided for the XM ultra-low account is perfectly suitable and follows the qualification laws of both CySEC and IFSC.
Spreads are another important trading tool that Forex brokerages offer to their consumers. The spreads on all majors for XM ultra-low account go as low as 0.6 pips.
However, only focusing on your spread will take your attention away from what matters. You should be conscious of the expense of your spread, but in general, the spread should be viewed in context. One should probably think twice before doing trade in a time of low liquidity when spreads are getting higher.
XM Ultra-Low account offers one a good spread. However, what you do with it is up to you. It does offer a certain advantage that one can’t find elsewhere.
Pros & Cons of XM Ultra-Low Account
We have discussed much general and specific information about different aspects of the XM ultra-low account. We have compared it to other types of available account types and have talked about different trading tools that come with it. Now we are going to analyze the given information and show you the advantages and disadvantages that the XM ultra-low account possesses.
There are many advantages that we have already mentioned but haven’t emphasized yet. In this section, we will talk about four different pros that the XM ultra-low account comes with which are extremely beneficial for the consumer of this Forex broker firm. Specifically, we are going to discuss trade volume, minimum deposit amount, and allowed activities that one can perform while trading with the XM Ultra-Low account.
Negative Balance Protection
Negative balance protection is a great feature to have for any type of account type, XM has it for all of the accounts except the shares account which is basically its own entity. The reason why regulated brokerage firms use it is very simple, with it they safeguard their client’s operations. It’s a great tool to manage one’s account with.
One can use the traded Volume of a forex broker for one’s advantage. It’s a great way to improve one’s trading. The term refers to how much of a particular asset has been traded in a certain period of time. XM Ultra-Low account’s trade volume can go as low as 0.01 lots for standard Ultra and 0.1 lots for Micro ultra.
The term “hedging” refers to a risk management strategy. With the right plans and activities this is a very useful strategy for many experienced traders. One can use the MetaTrader4 trading platform as it allows its users to hedge much like the XM brokerage firm. Hedging is allowed for every type of XM account except for the Shares account.
XM ultra-low account has a minimum deposit amount of $50. This is a relatively good price and is up to standards with the regulatory authorities that XM complies with. The recommended minimum depositing amount according to CySEC and IFSC is $100. In this regard, we can fully justify the XM ultra-low account minimum deposit amount.
A definite advantage of the XM ultra-low account is the fact that it is commission-free like the standard account and micro account. There are many instances where this distinguishing feature can come in handy. One only pays a small fee if one chooses to use the shares account and even then it is because of the very nature of the trading instrument itself.
Open XM Account Here!
There’s always something that can be improved on with any product. XM is known for its innovative ideas and open mind approach to the rising trends and critical responses to their products. In this section, we will be diving into the cons that we have found on the site. It highly important to talk about it as well because one needs to know many aspects of any company before doing any kind of business with them.
There are no commissions for all XM accounts including the XM Ultra-Low account, with the exception of the shares account. However, there is an inactivity fee set on the site for all of the account types. After one year of inactivity, there is a $15 one-time maintenance fee, followed by a $5 monthly fee if the account remains inactive.
No protection for non-EU clients
XM brokerage firm has multiple qualifications, Both of them are by a European regulatory body. XM follows all the regulatory laws made by the upper-mentioned organizations like CySEC and IFSC. each requires XM to have protection in place for their users. Logically speaking it’s no surprise that the firm can’t follow the same pattern with non-EU clientele, as there is no footprint that can be followed and obliged to.
FAQ on XM Ultra-Low Account
Can I change my account type in XM?
No, you can not do so. One is not able to upgrade or change the already chosen account type. If you want to use another type of account the only way to do so is to open an additional trading account. Micro, standards, shares, and Ultra-Low are the four main types of XM live accounts that are accessible for traders.
How do I put money in my XM account?
Firstly in order to do any type of activity on the site one needs to sign up. After doing so go to the “My Account” section of the site, click the “deposit” button. Then Choose a depositing method. After doing so, fill in the amount you’d like to deposit. After that, you will need to enter your credit card details.
What is myHF Area and What Does it Do?
myHF area is a unique solution and a virtual gateway offered by HotForex broker. This is the feature that differentiates the broker from its competitors. With this unique area, everything is united under one environment which is highly protected and provides all kinds of services to traders.
The main features that myHF area provides its clients include: checking the balance on your account, getting rewards, access to financial transaction history, viewing educational material, discovering useful information and statistics on your trading accounts. It also supports desktop, Android, and iOS devices.
In every way, HotForex broker is perfect for those who are looking for ideal conditions alongside decent services. myHF area makes everything simpler for traders. You can enhance your trading and stay up to date with exclusive tools. Everything that the broker offers is reliable and trustworthy and HotForex itself is a licensed and regulated company.
What Does myHF Area Look Like?
myHF Area is designed in a way that will make every customer feel special. The developers of this feature paid a lot of attention not only to the visual side but also to the user experience of traders. As soon as you open the area a broad array of possibilities will open in front of you – from economic calendars to different tools – everything is present on the website. Basically, every single feature is united under one environment and accessing everything is way simpler than you might imagine.
What’s even more interesting is that the area is fully secured meaning that you do not need to care about your privacy and safety. HotForex broker is known for providing high-quality services in every aspect and myHF area is one of the main proofs of that.
Tools You Get From myHF Area
What makes myHF area so special is the possibility of accessing different tools from this feature. There are a handful of tools you can get from HotForex’s unique possibilities, some of which are economic calendar, VPS hosting, and Autochartist tool. Of course, it is only a limited list of the opportunities and advantages that myHF Area offers to its clients. Every person – does not matter rookie or experienced one – can feel various advantages.
The Economic Calendar is a practical tool that provides up-to-date information on upcoming events in the financial sector. Data from the Economic News Calendar helps a trader to study the situation in the Forex market and build his or her trading plans on this basis. Economic Calendar contains all significant events in the economic sphere: new company reports, price indices, and financial indicators, the latest inflation and unemployment figures, dates and times of speeches by the heads of the leading departments of the financial industry, as well as other important information that will be useful to a trader when working on Forex.
VPS (Virtual Private Server) is a modern hosting technology that combines the power of a dedicated server with flexibility and ease of management. The closest analog of a VPS is a standard dedicated server located at the hosting provider’s technological site and connected to the Ethernet switch port. As part of the VPS tariff, the user is provided with a virtual dedicated server located on a separate physical machine, there is access to the system at the root level, which provides the ability to install any programs and change the server settings.
Autochartist is a trading assistant that scans online trading information and alerts you to trading opportunities. This is not a trading system, but a program that systematically notifies you about the possibility of making a deal.
Autochartist also sends you trading signals every 15 minutes. You can use these signals to analyze the market cycle. Autochartist will notify you of further pattern formation. These signals are called re-alerts (continuing alerts). If the formation of the pattern is no longer confirmed by the program, no further signals will be sent. In every way, the Autochartist tool is extremely useful for traders and myHF Area provides this brilliant opportunity for traders.
Pros & Cons of myHF Area
When we are talking about myHF offered by HotForex broker there are certain advantages and disadvantages that we should take into consideration in order to have more comprehensive insight into the account. Below we will discuss some pros and cons of myHF Area.
Of course, we decided to review myHF Area because of its advantages. The feature offers a wide variety of options that will delight every trader especially the ones who are making their first steps in the FX industry. These advantages include Automated Deposits/Withdrawals, Contests, and Bonuses, Educational materials.
With myHF you can perform fully automated, instant deposits and withdrawals. This is a really useful feature. Some traders do not want to spend time making deposits and withdrawals by themselves. The automatization of different processes helps traders to direct their time on something more specific that will be advantageous during trading.
Contests and Bonuses
Not only can you have access to different types of features, but there is also an opportunity to take part in different promotions. You can basically get rewards from the selection of Trading Contests and running Bonus programs. Bonuses and contests are something that a slew of traders are exploring deeply and myHF Area has this feature available.
The success in Forex trading is directly proportional to education. If you want to earn a lot of money and succeed in trading, reading different material and tutorials is essential and pivotal for long-term success. With myHF Area you can easily access educational material and check the events.
There is no something in life that only has positive sides. Everything even though it might be perfect and flawless has certain weaknesses. myHF Area is no exception. The environment, while having numerous pros, comes with certain disadvantages as well which we will review below. There are not too many, but still, it is necessary to consider them.
This one is particularly visible on mobile devices. While desktop computers and laptops have no problems with loading the feature, some mobile phones can struggle with the application and basically cause problems – especially if you are using older phones. Therefore it is a good idea to use newer models of mobile phones to get the best possible experience with myHF Area.
FAQ on myHF Area
Who is myHF Area designed for?
myHF area is designed for both new and experienced traders. However, the latter will find more benefits in this feature, as they have more experience in this field and will have a deeper insight into the details that myHF Area offers to the clients. The developers have put a lot of energy into making the app what it is.
What’s the minimum deposit for myHF Area?
The minimum deposit for myHF Area is $5. However, keep in mind that there are different types of accounts available on the website and each of them has various requirements for opening the account. There could be a minimum deposit of $250 or less. Hence, it is advisable to check the details beforehand.
HotForex PAMM Account – Is it Worth It?
A PAMM account is one of the types of managed trading accounts in the Forex market, where the managing trader has the opportunity to put into trading the attracted investments of other traders. The PAMM account service is a system in which profits are distributed between managing traders and investors in proportion to the amount of the participating capital.
The manager trades with his own and the investor’s money, the profit received is distributed in proportion to the share of the money invested by the investor. On HotForex there is a specific PAMM account that you can find on the website. It gives you an opportunity to choose the minimum deposit amount by yourself, adjust it whenever you like and it is applicable to both new and existing accounts. The account is completely safe to use as HotForex by itself is a legit and licensed broker enjoying popularity among traders.
What Does The HF PAMM Account Look Like?
PAMM accounts are available for HotForex clients and they are actually one of the most popular options for traders. To enter the corresponding section, select “PAMM” on the right in the list of sections on the site. PAMM accounts on HotForex allow you to invest in experienced PAMM Fund Managers who trade markets on their behalf. To explain more simply the concept of working of PAMM accounts on HotForex we should note that the Manager opens a PAMM Account and activates the account by allocating his initial investments as the Manager’s Capital. PAMM Manager Account will be unlisted from the active PAMM Rankings in case the Manager’s Capital is withdrawn.
As soon as the investor invests in a Manager’s PAMM account, the Manager will start making trades on the provided account using both his or her personal capital and the funds of the investor. Profits and losses in the account are divided amongst the manager and the investor depending on the share of an account.
On HotForex you have a possibility to either open Premium or Premium Plus accounts. They basically have differences in pips and commission fees.
How to Choose an HF PAMM Account Manager
Choosing a PAMM account manager is the first and most important priority for any trader who has just decided to create this type of account. There are many details that every customer should consider before they go for the selection. Most traders, especially the new ones, are not sure about the features and specifics of PAMM accounts and they inadvertently choose the wrong managers. We will have a look below at some of the characteristics which need to be considered before choosing.
The first criterion is without a doubt a manager’s background. You should definitely not go for the manager who has not so much experience under his belt. A proper and good manager should have good experience and results. Some managers are only oriented to extract as much money as possible from you, so every trader should be careful prior to select a manager. When you trust someone with your own funds it is pivotal to know about the background thoroughly.
Paying attention to the win/loss ratio is necessary as well. The win/loss ratio is the ratio that shows the total number of winning trades to the number of losing trades. It actually does not demonstrate how much was won or lost, but simply if they were winners or losers. Of course, you should be looking forward to winning trades as much as possible.
Instruments play a huge role in trading. While we are talking about managers it is important to pay attention to the instruments they have been using. Some are more diverse than others and can use a lot of instruments, while the others only focus on a specific instrument. Looking more closely at these details will help you in the selection process.
Types of HF PAMM Accounts
PAMM accounts come in different types on any Forex broker’s website and it is not a surprising fact. HotForex broker is not an exception in this regard. On the website, you can basically choose between two types of PAMM accounts that are PAMM Premium and PAMM Premium Plus. Let’s find out more about each of them.
In general, these 2 are not significantly different from each other. PAMM Premium supports MetaTrader 4 trading platform. Spreads start from 1.1 pip and the trading instruments include Forex, metals, oil, and indices. The maximum leverage available is 1:300, while the minimum opening deposit starts from $250. The minimum trade size is equal to 0.01 lot. Margin call and stop out levels are 50% and 20% respectively. Telephone trading is possible and the account currency is the United States dollar. There is no commission whatsoever on the PAMM Premium account.
PAMM Premium Plus
We have reviewed the main characteristics of the PAMM Premium account and we can note that the same goes for the PAMM Premium Plus account as well. There are no major differences between these two. Everything except spreads and commissions is the same. While spreads start from 1.1 pip on PAMM Premium, on PAMM Premium Plus they start from 0.3 pips. The commission starts from $5.00 per 100,000 USD traded ($10 round turn). They are pretty similar but these two details could be decisive for some traders.
Pros & Cons of HF PAMM Account
PAMM accounts, even though they are really beneficial for clients, have certain disadvantages and advantages that are pivotal to consider, in order to have a deeper insight into the working process of this account. Let’s have a look at them together.
You already know how an investment account works – a certain trader who has achieved a certain level of success and professionalism in Forex trading creates a special account on the broker’s website. The manager’s benefit is the increased amount of the profit received and a certain percentage of the commission, and the investor’s benefit is a large part of the profit earned by the manager on the amount invested by him. At the same time, for investors, such accounts provide more advantages
A trader just needs to register on the site of a brokerage company and transfer the number of funds to a special account of the manager. The process of working is really simple and straightforward, requiring no complications.
Huge selection of managers
Each broker and in this case HotForex offering this service has a rating of PAMM accounts, where you can choose the most suitable managers using various account assessment tools. This is also possible on HF.
The possibility of forming portfolios
You can form portfolios for diversifying risks and applying “portfolio strategies” – for maximum efficiency, you can form pools of 3-7 most effective accounts and use certain techniques that allow you to increase the amount of income received and avoid loss of funds
Despite the fact that this technology for generating passive income on Forex has significant advantages, its use is accompanied by a number of certain disadvantages, which we will review below.
High level of financial risks
By choosing an ineffective manager, you can lose capital or a huge part of it. That’s why it is important to choose the one that will have decent experience and a good ratio.
The inability to influence the manager’s trading
If unprofitable trades are made in the manager’s trading, the investor cannot stop his trading. In general, it could be deemed as a double-edged sword – you might get benefits at one moment and completely find yourself in losses at the other one.
FAQ on HF PAMM Account
How do I open a PAMM account??
Opening a PAMM account is pretty simple on HotForex. First, you should log in to your myHF area. Click on PAMM. Click the My Investor Account tab to open your PAMM Investor Account.
Then choose the PAMM Managers that suit your preferences and aims. Deposit funds to allocate funds to a PAMM Manager and that’s it.
Is the PAMM account profitable?
Yes, it is. However, when investing in PAMM accounts, you should never forget about the risks. Only by assessing the risks, you will be able to determine how much you are willing to invest in PAMM accounts. In investments with an increased risk, the rule is to invest only a loss limit, i.e. only the amount, the loss of which will not critically affect your financial condition. For beginner PAMM investors, this is an axiom, since full awareness of risks comes only with experience.
How Does the HFCopy Account Work?
Copy-trading has become really popular in recent years with the rapid development of the FX industry. This is a trend that attracts even more customers. HotForex broker is one of such names that also incorporated this pattern for clients. The principle of copy trade is simple. Basically what happens is some traders can be “influencers” some can be “followers”. When an “influencer” places a trade, the “followers” are notified who can then open the same trade. The influencer gets a performance fee of around 50%, while followers get to place pretty nice trades.
Various FX brokers offer different conditions for copy trade, but on HotForex there are Strategy Providers. By opening an account and depositing funds, you start copying their trades and after that pay a performance fee. This particular feature is useful for newbie traders, who are just making their first steps in FX trading.
HotForex Account Details
HFCopy account is one of several accounts that you can try out on HotForex. We have already pointed out that this account involves copy trading, but there are other details to consider. It supports MetaTrader 4, Webtrader, and mobile trading platforms. The leverage is 1:400, while the maximum is 1:1000 for other accounts. Available trading instruments include Forex, Gold, Bitcoin, Indices Spot. Spreads on the HFCopy account start from 1 pip. In order to open an account, you need to deposit $100 if you are a follower. The minimum trade size is equal to 0.01 lot. There are no commissions.
Available Trading Platforms
At the present moment, HotForex’s copy account includes the following platforms: MetaTrader 4, Webtrader, and Mobile Trading. Basically, you can try out everything that you prefer. MT4 is by far the best platform, widely used in trading and it needs no further explanation – this platform really eases the trading process for beginner as well as experienced traders.
Webtrader in its turn is a Web interface that copies and packages your submission on your desktop. It is less popular than MetaTrader but is used widely. As for the mobile trading platform, this is something that gradually establishes itself in the Forex market and a lot of people are turning to mobile apps.
Available maximum leverage for the HFCopy account as we have already mentioned is 1:400. This is a decent rate – neither too high nor too low. However, while leverage is a beneficial tool for traders sometimes it could cause problems as well, so in essence, it is a double-edged sword. Compared to micro accounts, the HFCopy account has lower leverage, when its counterpart offers maximum leverage of 1:1000.
We should also indicate margin call/ stop out levels, which are 50% and 20% respectively.
Spreads types in general are variable on HotForex broker but actually spreads start from 1 pip. Minimum spreads indicate good liquidity providers. Spread is the range between the price for which paper or currency is sold and the price for which they are bought, at one and the same time. These are different prices by great value since buyers want to buy at a cheaper price, and sellers want to sell as much as possible. It should be noted that HotForex follows general patterns.
Pros & Cons of HFcopy Account
Of course, when we are talking about any kind of Forex account there are both pros and cons that we should go through. In order to thoroughly understand the specifics of HotForex’s copy account, it is necessary to consider both advantages and disadvantages. Let’s review them below and find out more about them.
First, we should start with the pros because this is why we have decided to have a closer look at this account. The advantages of the HFCopy account are vast and here we will review some of them such as the absence of commission fees, 60 standard lots per position, and 0.01 minimum trade size.
When traders especially the rookie ones are making their first steps in the Forex industry they are looking for accounts that offer them the best conditions. If we thoroughly review the HFCopy account, we can notice that it does not have additional commission fees, making it more attractive for customers. A lot of accounts include fees that charge traders with extra money.
60 Standard Lots per Position
The amount of standard lots per position is really important and in the case of the HFCopy account, this is something particularly important. Forex is commonly traded in specific amounts called lots. The more the better and 60 standard lots per position will not leave anyone disappointed.
0.01 Lot Minimum Trade Size
The HFCopy account offers a minimum size of 0.01 lot for trade. 0.01 lot size may be difficult to understand at first, but there is nothing to worry about In essence, it means that when a trade is placed in such a size it will take 10 pips to give you a profit of $1. it will also take 100 pips to give you a $10 profit.
We have already mentioned that alongside the pros there are certain disadvantages worth mentioning to better understand the drawbacks of the account. Even though we cannot single out a lot of them, they still need to be mentioned. These are minimum deposits, no bonus and limitations on followers.
Minimum opening deposits are different for strategy providers and followers. We are more interested in followers and in this case, it is equal to $100. Still, such an amount is not little for people who are just making their first steps in trading and this can be considered as a disadvantage.
There is no kind of bonus whatsoever offered by the Forex broker on this particular account. As soon as you create an account you should start trading and that’s it – HotForex offers no promotions for new clients to make their trading experience better, which is a slight disadvantage for rookie traders.
Limitations on Followers
Unless otherwise agreed with the Forex broker, there is a limitation set on followers in the range of 100-400. It could be disappointing for traders because they might be looking for new opportunities and if the limit is already reached there is no way to add more customers.
FAQ on HFcopy Account
What is HFcopy?
HFCopy is a type of account available for traders who are looking for experienced traders with the aim to copy their traders and increase the amount of money earned from trading. In an HFCopy account, you will come across Strategy Providers who share their strategies with people known as followers. After the successful traders, the latter should pay performance fees.
How do I cancel my HFcopy account?
You can unfollow strategy providers any time you want on the website. You can choose this option from the button available on your account. If you do not wish to continue with the account there is also a possibility to cancel your account, and it is always a good idea to contact the broker directly.
HotForex Mobile Trading- Is it a Good Platform?
Mobile trading has entered the Forex industry by storm and grows gradually and shows no signs of slowing down. People have the possibility to trade from any part of the world with a mobile device, access MT4, and MT5 trading platforms, and receive the latest financial news and signals. HotForex mobile trading is well-developed, optimized and trading platforms are designed nicely.
HotForex is a licensed and regulated Forex broker that offers its services to people from different countries. Mobile trading on HotForex is beneficial as you will get access to various features that are also available on desktop platforms. You receive complete control over your account and constantly stay up to date with the latest events. You can download the HotForex MT4 Android version on your mobile phone through the Google Play Store and get a secure and confidential platform. Let’s find out more about other features and characteristics of HotForex mobile trading.
What Does HotForex Mobile Trading Look Like?
HotForex mobile trading is simple and easy to use. It brings traders advanced charting and trading tools that can be used for conducting trading. The design of the platform is minimalistic and with the MT4 mobile version, you will get the best user experience. We can already make some assumptions about HotForex mobile trading at first glance. The dashboard of the MT4 trading platform is designed nicely. Sections have specific places allocated and the colors are chosen perfectly.
The MetaTrader 4 mobile platform mobile devices, which was created to manage the deposit and analyze the current market situation, will allow you to stay constantly abreast of events on Forex. The software provides many convenient mobile trading features that are essential for successful trading on the MT4 platform.
The simple and practical interface of the MetaTrader mobile application for Forex trading allows you to conveniently control the market situation. While away from home or office, you can perform any financial transactions online.
HF Mobile Trading Features
Mobile Trading on HotForex comes with a broad range of features. First of all, you manage to access all of the features that are available on desktop platforms. MT4 trading platforms has almost every feature you will come across in trading on your computer. At the same time, mobile trading on the MT4 platform has made deposits and withdrawals easier. Advanced charting functionality will not leave anyone disappointed with the different graph types available. You can also have a look at your orders, get real-time market news, and receive indicators on how traders react to currency movements.
Before we start talking about the available leverage on HotForex, first we should mention that there are 6 different types of accounts with various conditions. The maximum amount of leverage you can get on HotForex is 1:1000 for a Micro account. Premium, Zero Spread, and Auto accounts have 1:500 respectively. HFCopy comes with 1:400 and PAMM – 1:300. Depending on whether you are a new or experienced trader you may need to use different leverage. Larger ones are created for veteran traders who know how to deal with it carefully, while rookie traders will prefer low leverage in order not to lose funds.
On HotForex, major foreign exchange currency pairs are quoted to five decimal places. Spreads generally vary and depending on the currency pair it could be different. For example, AUD/CAD currency pair spreads start from 2.7 pips, EUR/AUD – 2.9. For example, if you were to buy EUR for $40,00 and sell it for $39,25 the difference would be 75 pips. Spread is the difference between the Bid and Ask price and is one of the forms of commissions used by Forex brokers.
Pros & Cons of HF Mobile Trading
Mobile trading on HotForex comes with a lot of advantages. First of all, both MT4 and MT5 trading platforms are available on both Android and iOS devices. They allow opening, closing, and modifying trades, and with a stable Internet connection, you will get the full functionality from any location.
We should obviously start with cons because this is the reason a lot of people start mobile trading on HotForex. The broker offers one-click trading, simplified charting, access to PAMM accounts, live quotes, the possibility to view trading history, indicators, currency charts. Basically, every interesting feature is provided.
In PAMM accounts, fund managers trade on the behalf of investors. When you have a new account a fund manager will start trading and after some profits, you should pay a certain percentage of winnings. On HotForex you can access this feature easily and choose your Fund Managers.
Beginner traders frequently find it hard to execute winning trades and it comes as no surprise because success in Forex depends on many different factors – from knowledge to experience. Copy-trading makes your job easier. You can choose any trader from the list and start copying their trades. Only after successful trading, you will be required to pay a commission fee.
With MetaTrader 4 and 5 trading platforms, you get simplified charting on your mobile devices. You can select between various graph types & time frames, apply technical indicators, use the scrollbar or read news live. An economic calendar is also provided where you can learn about upcoming financial events and announcements.
Mobile trading on HotForex allows you to get access to live rates on commodities, stocks, indices, Forex no matter where you are. The quotes are present in real-time and you can check them any time you want.
When we talk about the cons of HotForex mobile trading there are not too many drawbacks we can potentially mention. The main thing is that mobile trading is not supported on some devices. Also, multitasking is more difficult and the platform is slightly slower compared to desktop platforms.
On your PC or laptop, you can open several tasks and deal with them effectively. The nature of mobile devices makes it harder to multitask. It is difficult to open several things at once, while on your computer you can easily do so.
It goes without a question that MT4 and MT5 mobile trading platforms operate normally on mobile devices but they are primarily designed to function on computers. Compared to iOS and Android phones you will get slightly better performance on your laptop or PC. No matter how strong your mobile device is, computers still have an advantage.
FAQ on HF Mobile
Does HotForex have an app?
Yes, HotForex broker has an app but it is pretty buggy and lags frequently. It is better to trade with MT4 and MT5 mobile platforms that are available on both Android and iOS devices. You can download them either from Play Store or App Store.
Does HF Mobile consume a lot of data?
No, HotForex mobile trading does not consume a lot of data because MT4 and MT5 are very well optimized. In general, it is recommended to have a 4G connection turned on your device, to get the maximum performance. Keep in mind that trading on mobile with cellular data will drain your battery and make sure that the phone is charged.
AvaOptions Review – How Does This Platform Work?
AvaOptions is the name of a custom trading software made by AvaTrade. Alongside the industry-standard MT4 and web trader, AvaTrade’s new platform is a breath of fresh air in the trading community, not enough forex brokerage firms make their own additional software. This is a great opportunity for growth and independence.
Having multiple products for its consumers shows the dedication the firm has for its traders and how actively they are trying to optimize the trading experience for their customers. The AvaOptions platform is very similar to MetaTrader4 which is a very popular trading platform in the trading community.
They share the concept of functionality and several other features like a programming language and a user-friendly interface. However, we would conclude that one needs to have at least some theoretical knowledge about basic trading strategies before using the AvaOptions trading platform as it is specifically designed for experienced users.
Are FX Options Better on AvaOptions?
The pending orders are still blue so they’re cool and waiting to be executed, so you can pick whatever asset you like, like a pound of gold, and you can adjust your periodicity like I said, which we’ll correct, so there’s history, and you can put in studies wherever you like now let’s talk of what we’re really here for, which is choices.
If I press the spot button, I get a menu where I can choose between trading basic calls and puts or trading strategies like call spreads, put spreads, butterflies, and strangles. Buying a strangle is buying a call and a put at different strikes, and you can see how the payoff diagram looks. You’ll profit if the market moves a lot higher, and you’ll profit if the market moves lower, but if the market stays around here, your bought options that end up being worthless.
AvaOptions Trading Features
AvaTrade clients can sign up for one of two account categories, depending on the spread offered: a fixed spread account, which is available on both platforms, or a floating spread account, which is only available on the MT4. Both account forms are commission-free and support micro-lot trading.
Check out HotForex if you’re looking for a decent trading site. It has more account forms than any other broker I’ve looked at, all with extremely competitive and exclusive trading conditions tailored to suit the needs and demands of all types of traders.
Sign in from this page Here we go, it’s logging me in, getting all of the parameters it needs, and this is what our screen looks like now. On the left side of the screen, you have various assets, we have major market fx on the top left, equity industry gold and silver, and equity indices, and then all of the other currency pairs down the bottom.
Live FX Options Pricing Widget
This interactive widget displays market data for a variety of European-style vanilla Call and Put options for a number of different currency pairs.
Streaming spot FX rates are displayed on the left column for all views, and standard expiration dates are displayed on the top row, just below the description.
Pricing and Volatility pages are the two types of pages that can be viewed.
Pricing Pages and Volatility Pages are the two styles of pages available in the Option Pricing Widget.
To see a selection of streaming vanilla European style Call and Put option mid-market prices and related info, click either currency pair.
By clicking on the top row of the window, you can choose one of the regular tenors.
At the bottom left of the list, you can choose from a variety of pricing conventions. Term pips are the norm, but Base pips and Base percent are also options.
To see a chart of profit and loss for purchasing an option on 10,000 of the currency pair at the chosen strike and tenor, including the breakeven level, click on any option price.
To see a matrix of Implied Volatilities for all currency pairs and tenors, click “Vols.” Additional pages with Realized volatilities and the Implied to Realized ratio can be selected. To see the Pricing page for any volatility number or currency pair, click on it.
The web trader, which comes on the heels of an excellent smartphone app uh that you can find in the google play store as well as the apple app store just search for ava options and you’ll find it there with the same look and feel proprietary screens, but the main goal here is to make options simple to understand while still being effective for experienced traders.
We’d like to give you a brief tour of our trading platform. This is the market watch screen, which looks similar to many other trading platforms. On the left, you’ll see the offer and ask for different properties. On the right, you’ll see the high-low and yesterday’s closed prices. You can also add other currency pairs, such as gold and silver. Adjust the order of the items on this page by clicking Save, and you’ll be taken back to your computer with the new order on the right side. I may scroll left to see one month implied volatilities for the Canadian dollar.
Number of Currency Pairs
55 different currency pairs are available for trade on the platform. On the main panel, you’ll be able to choose from a variety of categories. This is their trading screen, and their trading screen is unique in that you can see the asset we’ve chosen, which by default is the euro/dollar to trade spot, which means you’re trading the asset itself, much like buying or selling a CFD. You can add and look at different types of charts.
Pros & Cons of AvaOptions
No trading software is without its advantages and disadvantages. It is the attitude of the manufacturer towards these topics that can cause a stir of controversy.
In this section, we will talk about the positive aspects of the platform that we think is worth mentioning. As we know any platform has its pros and cons, we are more than glad to disclose these facts to you.
The activities and programs of AvaTrade are founded on concrete principles that describe their attitude toward current and future partners and clients.
These principles are Fairness, growth, and development that is sustainable. Priority is provided to clients. This is why the pages of the platform are so immersive and hence very interactive. The visual stimuli on the platform are effective in regards to illustrating marketplace activities.
The visual stimuli provided by the platform are used to illustrate different financial activities. There are many useful extra features on the platform and the abundance of charts is definitely one of them. An additional feature of it is an autochartist trading signals, for example, and risk management tools that will be available here this week where you can see your net risk by currency pair, currency, and net vega, which is your exposure to implied volatility, among other things, as well as some very nice bar charts and numbers that will help you understand how to hedge or what your net risk is.
Widgets can be very beneficial for the overall user experience for any type of platform let alone one with such advanced features like The AvaOptions. The financial operations that are processed with this platform are quite complicated therefore the variety of widgets that are accessible on the platform are impeccable and incredibly useful.
13 Option strategies
A variety of attributes is something that we can say about the AvaOptions platform. It’s incredibly diverse. One can strategize in multiple ways, in fact, there are 13 operation strategies including Spot, call, call spread, call ratio put, put spread, put ratio, straddle, straddle, butterfly, condo, risk reversal, and seagull option strategies.
No platform is without its faults and imperfections. There’s always something that can be worked on and made better by examining and focusing on certain aspects of the platform. In this section, we are glad to shine the light on this topic and discuss the few disadvantages that can be fixed further in the future.
AvaTrade has many services and offers quite a few products to its consumers. The site has an inactivity fee for all of its user’s accounts. The same notion is true for their exclusive platforms which are available on the site including AvaOptions. The said inactivity fee is quite high. After 3 months of inactivity, a $50 quarterly administration cost is charged; after 12 months of inactivity, a $100 annual administration cost is charged.
Few restricted countries
Although AvaTrade is an international brokerage firm, there are quite a few regions that don’t provide services and products to comply with their regulations. This is a firm that believes in its products and services. It’s a legitimate business that follows all the regulatory requirements. Although having few restricted countries is not great in terms of accessibility, it is something that can be worked on by getting more regulations and qualifications.
FAQ on AvaOptions
Is AvaOptions better than MT4?
We would like to think that AvaOptions is a highly advanced software much like MT4. We have found that both of the platforms share common traits and features like interactive interface, great charts, the possibility of rollovers, and hedging. Both of the platforms are available in multiple languages and have distinctive types of users. We would say that the most important distinction is the fact that AvaOption is designed specifically for advanced users while MT4 can be used by both novice and experienced traders.
Is AvaOptions good for beginners?
No, it isn’t great for a complete novice to the industry. We would not recommend traders to start using this platform without doing research and learning about the basics of Forex trading. AvaOptions is specifically designed for experienced traders therefore one needs to have at least some theoretical knowledge before starting to use it for their trading activities.
Can I use AvaOptions outside of AvaTrade?
No, you can’t use it in that particular way. one can not use AvaOptions platform outside the realm of AvaTrade. The mentioned platform is an exclusive product of the AvaTrade brokerage firm therefore one can not use it in synchronous trading with other trading firms.
What is XM TV and Should You Watch It?
XM TV is the name of an educational platform that XM forex broker has created in order to give information about different aspects of trading. Educational initiatives are popular among any sufficient and respecting brokerage firms however XM Forex broker has taken this to a whole new level. The content on XM TV is more than just a compilation of articles and videos, it’s a fully immersive learning experience provided by a regulated broker firm with years of experience in the industry.
XM Forex Broker is owned and operated by XM Global Limited and Financial Instruments Limited. The site has multiple qualifications. The firm is regulated by the International Financial Services Commission and Cyprus Securities and Exchange Commission. Both companies are members of the Trading Point Group which is a very trustworthy international financial institution. It was founded in 2009 and has made an impact over the last decade by venturing into uncharted territory, they have always been at the forefront of change and innovation.
XM TV vs Other FX Education
XM TV is mostly designed to educate traders about more complex trading strategies and tools compared to a more beginner’s type of courses that can be found anywhere else. Many scam brokers use the term educational material very vaguely and use it as a false signifier of legitimacy by providing the bare minimum. This is not the case for XM TV. Not only it is multifunctional but also incredibly accessible as the forex broker actively uses all media channels. They have utilized the power of the digital world. Every course is also available on their verified youtube channel that has garnered over 46 million views since its creation.
The available video courses on the site are always about specific topics. However, there are Lecturers that simply talk about the newest trends in the trading world. New strategies and how to apply them. It’s important to be up to date on these topics as the industry is incredibly fast-paced and the trading landscape is constantly changing and shifting. In times like these, information is crucial.
When it comes to uploading frequency, it seems that XM TV is constantly being updated. Around 2-3 videos every single day.
What You Will Learn on XM TV
The content on the XM TV site and their additional media channels are practically endless. The educational initiative was started in 2013 so there’s an extensive library of videos available that are on a multiplicity of topics. To demonstrate this we will give you the names of the news video titles as a form of an example. The news video on the platform tackles the matter of inflation fears, where Maria Pashiardes discusses and debunks different myths and connotations about this very topic. It’s important to emphasize that this type of video is common on the site and is incredibly helpful and informative.
There are three distinct categories on the XM TV platform that one can filter the available content with. In this regard, there is much diversity among the topics.
- Forex news
- Technical analysis
- Forex outlook
XM provides daily updates on market movements in the FX market and analyzes them for potential trade positions for their traders. This is a great way to keep the trader engaged and informed about various news sources, specifically about their legitimacy. The way XM TV approaches the process of delivering the news is a breath of fresh air. They have hired some of the most qualified specialists with experiences in both financial and journalistic pursuits. Being up to date on news on a daily basis is important in any industry let alone one concerning finance.
Instead of just explaining how different tools work, XM TV mostly focuses on using those tools on real-time data and coming up with a trading strategy. Such type of content is also added every day. This is a distinct category that is present on every media channel of the platform. The term technical analysis refers to a discipline within the trading community that is aimed to provide price trends and patterns on charts that can be used to test investments and recognise trading opportunities.
Identifying short, medium, and long-term patterns, pinpointing possible potential problem areas where integration indicates that supply and demand were equally balanced in the past, and estimating price targets are all part of price chart analysis.The use of desktop chart reading software significantly improves chart reading success.The use of statistical analysis to construct oscillating indicators that display. Overbought/oversold conditions, momentum speed and direction, and the comparing one item’s output to that of another or to that of the market
One of the many benefits of technical analysis is that’s it’s methods can be applied almost indistinguishably in any industry, regardless of location. Currency, commodities, shares, interest rates, and equities can all be analyzed using the same methods. They are equally successful in Japan and Europe, as well as in developed and emerging markets.
The only barriers to a universal implementation of strategies and processes are data availability and reliability. Business success, on the other hand, has a more nefarious stumbling block to tackle. Despite all of the knowledge provided by price time series analysis, crowd behavior, as seen in panics and periods of exhilaration, can distort not only expectations of a fair value for marketplaces, but also fair price levels.
Both types of research depend heavily on historical data, so when market hysteria occurs, normal assumptions based on past events can be thrown off. Even worse, when it comes to making investment decisions, personal mental and emotional weakness is a problem. The study of mass and personal market behaviour and management is a branch of data analysis, though there are signs of poaching from numerical analysts in this field, as with so much of technical analysis’ methodology.
Every week, XM sums up the market’s performance and sets expectations for the week ahead. By watching this, traders can learn how experts base their assumptions. This is a great way to see what strides have been made in the industry and really compare the intricacies of the forex trading environment. This type of forecast is very popular among the viewers of the channel and videos. Regte are many interesting weekly updates. There’s even a specific playlist made for this interesting category that encompasses over 200 different videos on variety of topics like currency indexes , rising volatility and many more.
Pros & Cons of XM TV
No initiative is without its faults. We think that an interesting precedent has a place in the industry as the videos on Xm TV are frequently updated and have a cross demographic appeal to it. We have yet to see a platform so knowledgeable and willing to share their information to the world as much as XM TV has over the course of eight years.
The pros of the system include some interesting things that one has gotten wrong in the past. Knowledge is power and this is evident in the advantages that this platform provides for its consumers. We can wholeheartedly say that there are many pros that the educational initiative has , there’s really nothing on this scale that can compare to what XM TV has managed to do within its existence.
Archive of Videos
Information can last a lifetime and the same can be said about the video archive of the p;latform the XM TV youtube channel has 50,000 subscribers and has garnered over 46 million views, Clearly they have made a substantial impact. The channel was made in 2013, we have already discussed the fact that XM TV is very consistent when it comes to content manufacturing. Therefore there’s thousands of videos on virtually every topic one can think of.
A distinctive feature of the XM youtube channel is the great thematic playlist that is made by XM TV. These playlist can range from news to analytical videos and many more. There are additional types of videos available on the site , like the TV appearances that success;lful traders make. This is a great way to celebrate the thematic diversity that is present on the platform.
We have already discussed the top three categories by which the available content on XM TV is organized. Additionally there are many tutorial videos once you visit the site. This is a relatively new initiative on the platform and they are incredibly helpful. For a novice trader using the trading software can be a challenge and this is why these types of videos are important and very popular among the consumers.
We have discussed many aspects of the XM TV platform. We have come to a conclusion that the educational initiative of the platform is a success however it is not a story of instant gratification and fame among the traders. Slowly but surely the platform has become somewhat reputable and it is definitely one of the most informative and trustworthy platforms around. However we do think that small details are important to and can be improved upon.
We think that the site has a great layout and is very functional but when one gets to the XM TV section of the platform all of those characteristics are no longer true about the site, In fact this section of the platform is too minimalistic in its design and acts as a glorified hyperlink to the impeccable youtube channel where all of the video content is stored. We think more written content on the actual XM site can be just as beneficial to the consumer.
Captions For Videos
When diving through the plethora of videos on the channel qwe have discovered the fact that many of the older videos don’t have captions which can be quite crucial for some traders. Imagine finding the perfect source of information via video on the archive of the XM TV channel and then you find out that the video doesn’t have a caption which you need to understand the video , as XM is an international brand. Clearly this is a disadvantage for some people and a small problem that can be easily solved.
FAQ on XM TV
Is XM TV broadcast live?
No , XM TV does not broadcast live even though youtube does have that option. The name is a novelty in reality. The actual video content on the site is incredibly scripted, researched and planned.
Who are the lecturers on XM TV?
Peter McGuire is one of the lecturers in the in demand series available on the site titled “TV appearances”. He often makes appearances on the channel and is a fan favourite. There are 538 videos where Peter discusses many different topics.
AvaTradeGo Review – Is it a Good Mobile Trading Platform?
AvaTrade is a global leader in providing consumers with a variety of services, including foreign exchange, indices, commodities. The broker is fully supervised and provides all of the requisite tools for a trader. AvaTrade is active in many countries.AvaTrade broker regulated and has multiple qualifications. They can meet all of your needs and specifications, regardless of the type of trader you are. AvaTrade mobile trading is a definite possibility.
AvaTradeGo is the name of the mobile application of Avatrade Forex Broker. AvaTrade Go was developed to improve the quality and accessibility of the trading process for the customer.
The app simplifies and streamlines the trading process. The user-friendly app is easy to use. The industry dynamics can be observed in real-time as they emerge. Inside the AvaTrade group of traders, one can even see what others are buying and selling.
AvaTrade Go aims to provide you with unique opportunities. You can make your lists and see some real-time prices. Hundreds of instruments, including the world’s top Forex pairs, commodities, stocks, cryptocurrencies, and many more, can be traded virtually anytime and anywhere with the app.
What Does AvaTradeGo App Look Like?
According to our AvaTradeGo review, the developers of the AvaTradeGo have done their research and have utilized many features to advantage the AvaTrade FX Broker. The app enables its user to open and close trades momentarily and with ease.
Traders of AvaTrade brokers already know how efficiently and smoothly the website operates. The app is just as great in this regard if not better. After downloading and installing the app there were no technical issues and we were able to use all the features with ease and comfort.
The app itself has a unique design, it’s very minimalistic. The interface is very simple to use and navigating it is easy to do. The app has the same color pallet of light blue and white which makes for a great combination as it’s easy to navigate through.
If you trade with mobile on AvaTrade you can make the most of the accounts features l with the low account fees and commissions on the platform.
This is a great app not only for experienced traders but for novice users as well. Who are eager to learn about advanced trading strategies. One can try all of them with this app very smoothly.
AvaTradeGo Trading Features
AvaTradeGo offers a one-of-a-kind range of features and benefits. It runs on all major operating systems, including iOS and Android. It is never a problem to use the preferred operating system because it is always available. Another advantage of AvaTradeGO is its multifunctionality. You can trade on several devices; for example, you can open a place on a desktop and close it on your smartphone. What is the AvaTradeGo account type?
There is only one professional trading account type on the app which can be used in multiple ways. One needs to meet certain requirements in order to have a trading account on the AvaTrade forex broker platform. One needs to have a background and experience in the financial sector, one needs to be an active trader and the instrument portfolio of a trader needs to be over 500,000 euros.
There are many trading instruments available on the site and to the app as well. The main three categories on each version of the platform are Forex Trading, CFD trading, and cryptocurrencies.
Forex Trading has never been easier and more accessible as it is with AvaTraderGo, They have Major pairs, Minor pairs, and Exotic pairs available on the AvaTrade mobile trading app.
The list of available cryptocurrencies on the app is quite extensive. In total there are 8 different digital currencies available for trade on AvaTradeGo. These currencies are Bitcoin, Bitcoin Cash, Bitcoin Gold, Litecoin, Ethreum, Ripple, EOS, and Dash.
CFD trading is very diverse on AvaTraderGo. Notable before unmentioned trading instruments on the app include Stocks, indices, Commodities, ETFs, FXoptions, and Bonds. Overall more than 250 trading instruments are available on the app including the fact that one can trade with the available cryptocurrencies 24/7.
The available leverage on any Forex broker platform is a defying and important feature of the site. The same goes for AvaTrade. One needs to know everything about this topic before making the decision to start trading with any forex brokers. There is only one AvaTrade mobile trading account type on the platform which is the professional trading account. Professional traders are well aware of the importance of a good leverage ratio. This is why they are always very cautious with their strategies.
The leverage available for traders on AvaTradeGo is 400:1, which means that a thousand dollar profit is generated by a 1% positive price shift in the market.
Spread range, otherwise known as margin trading, is an important tool that all professional traders use. With AvaTradeGo spread betting trading is available with over 200 instruments including FX, indices, equities, bonds, commodities, and ETFs. The minimum trade size starts from 0.01 per lot, which means that on Forex trading and most other instruments, the spread is ten percent. GBP is the account currency that is perfectly suited for margin trading on this platform which provides tax-free profits. If you trade with mobile on AvaTrade you can use this for your benefit.
Spread betting is a form of trading that is similar to other forms of trading. Instead of purchasing a specific amount or lot size of an available instrument, a spread bettor wagers on the movement of each pip or point of the instrument.
Pros & Cons of AvaTradeGo
A great way to get to know a forex broker and its features is to compile a list of advantages and disadvantages it can provide. We find it extremely useful to do so. In this section of our guide, we will give you the list of pros and cons of AvaTraderGo
The multifunctionality of the platform is a defining feature of the site with its easy acceptability. There are many other features that are beneficial to AvaTrade mobile trading users. These are fast transaction speed, great visual stimuli regarding graphs, and overall an immersive experience with the trading instruments. In fact, the platform has a diverse set of trading tools that are available on both mobile and desktop versions of the site.
Other than the standard professional accounts one can also open an Islamic account on AvaTrade. This account allows those who follow the Riba principles of Sharia law to make trades with a variety of different trading instruments – Forex, commodities, bonds, cryptocurrencies, and many more. The Islamic trading account is not charged with daily swaps. The swap fees are completely transferred into regular administration fees on all Forex trading items across the MT4 network.
AvaProtect is an exclusive risk management tool only available for the users of AvaTradeGo.It allows one to recover losses from losing trades. This is a very innovative feature that the AvaTrade mobile trading site possesses.
Investing still carries the risk of losing money, but AvaProtect makes it simple to protect yourself. Trades can be protected and danger can be managed. During a time of low liquidity, this method may be extremely useful.
There are many available trading platforms with AvaTrader forex broker. Mobile Trading is one of the defying features of the site as the AvaTradeGo is very popular among traders. MetaTader4 and MetaTrader5 are available on the platform alongside with WebTrader. All of the trading platforms are optimized for each operating system including IOS, windows, and android.
24/7 Customer Service
AvaTradeGo is accustomed to the same treatment as the desktop version of the platform. Therefore it’s no surprise that mobile app users can have access to the 24/7 customer service that is also multilingual. What is AvaTradeGo if not an incredibly user-oriented platform?
One can get in touch with the incredibly professional customer service team via live chat or a phone call. The site also has a comprehensive FAQ section where one can find answers to general or specific questions alongside other educational materials.
Perfection doesn’t exist. This is accurate with even slime of the best trading apps. AvaTradeGo has many advantages that we have already mentioned in great detail. However, it doesn’t function without a few faults that can be improved on with late updates of the mobile app. This Forex broker is eager to know the customer response to their products.
Can’t Be Customized
AvaTradeGo is a powerful tool, it’s a great platform for those who want to trade on the go, hence the name of the mobile app itself. Is AvaTradeGo good for mobile traders? Yes, it is, however, we do have to be cautious on how to properly use it. Mobile trading is not for beginners.
It’s important to mention that this app can’t be customized to one’s will. Unlike other available trading platforms on AvaTrade forex broker, one can not add other tools or indicators to this mobile app. What we have already discussed is pretty much what you get with AvaTradeGo.
There is no doubt in our mind that AvaTarderGo is an efficient, fast, and innovative platform. However, don’t forget the fact that any financial mobile app should be used with the desktop version of the same platform. Using AvaTraderGo Independently without ever checking out the desktop dashboard can be reckless as one needs to see each activity on a large scale as well. The smaller medium of the AvaTrade mobile trading app can be useful to do one’s trading on the go however it can also be compromising for one’s trades if it’s not used wisely.
The mobile app gives you 24/7 access to the Forex market. This means that the volatility can be off the roofs.
For example, if some invested over a billion dollars in a particular stock. This market will definitely have a strong reaction to this process. AvaTradeGo allows its users to see what other traders of the community are doing, therefore in our hypothetical scenario many traders will be able to see this and some might even begin to buy the upper mentioned stock.
Once the unknown user doubles his wealth, he or she can easily sell that share and withdraw the revenue, causing the share price to plummet at twice the rate.
FAQ on AvaTradeGo
Does AvaTrade have an app?
Yes. AvaTrade mobile trading app is available. The app version of their site can be found on application stores on both IOS and Android devices. Each of the applications was made by some of the best and experienced developers and it shows. The app has critical acclaim among the users and has been awarded by the “Global Forex Awards 2020” for “Best Forex mobile trading app” on the global market.
What is Ava Trade Go?
AvaTradeGo is the name of the IOS and Android application version of the beloved Forex broker platform. Each of the available features on the site is also available in the app as well. The distinction between the desktop and mobile versions is acceptability. One can use the app virtually anywhere anytime.
Does AvaTradeGo consume a lot of data?
According to the customer and AvaTradeGo review of AvaTradeGo, it seems that it doesn’t consume a lot of data. While doing our research on this very topic we have found that this notion to be true. Indeed the mobile app doesn’t consume much data. It’s incredibly sufficient. It won’t even take much storage on your device, on android smartphones it only takes 18MB. If you do experience any problems with data consumption most likely your phone might be outdated. On the Google app store, AvaTradeGo has a 4.4-star review made by over 4000 users. On the Apple store, it’s even higher, with a 4.6 out of a 5. Needless to say, it has a great perception among the users.
At the start of the year, newly-elected U.S. President Joe Biden revealed a promising $1.9 trillion stimulus package to boost the nation’s economic recovery from the damage inflicted by Covid-19. Fast-forwarding to his first 100 days in office, Biden shared his ambition to “win the 21st century” during a speech on foreign policy which he gave to mark the occasion. From tackling climate change to restoring relations with China, Biden’s plans appear to be giving strength to the US Dollar, but how has this been affecting the Forex Markets and why does it matter to traders?
The US Dollar, a.k.a. the ‘Greenback’ is the most popular currency in the world and any changes in its value can trigger market movements across a wide variety of assets. Moreover, the US Dollar has historically been viewed as a safe haven among traders – although crypto has now also proven strong in this regard – meaning that investors turn to the greenback during times of market volatility.
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Opportunities to profit in Q2 2021 and beyond
The global economy has made a remarkable recovery since the March 2020 market crash and appears set to continue striving towards pre-pandemic levels of economic output. Despite the volatile highs and lows reported throughout the past few months, the US Dollar looks like it will continue to pick up the tempo on its road to recovery.
Economic growth in the U.S. accelerated during the first quarter of the year thanks to huge government stimuli for both households and companies. America’s GDP also grew by 6.4 % from the previous quarter, according to the U.S. Commerce Department. According to official reports, the U.S. is en route to having the strongest performance of the past 40 years. In fact, the Q1 GDP acceleration was the fastest recorded growth rate since 2003!
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As the US economy continues to rebound thanks to government support, lower jobless claims and a successful vaccine roll-out, it is forecasted that consumer spending and consumer confidence may also continue to increase in the coming months. All of these factors could lead to bullish sentiment for the USD.
The International Money fund is anticipating a growth of 5.1% throughout 2021, which would make the U.S. economy grow faster than other major players such as the Eurozone, Japan and the United Kingdom.
While further recovery seems likely, traders should be aware that the future of market prices is speculative. Amid rising global competition, any unexpected event could result in the weakening of the US Dollar. Either way, traders can benefit from the USD’s rises and falls by trading Major FX Pairs at LonghornFX.
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A Black Swan is a name attached to the eccentric occasions that are past what is usually anticipated of a situation and can have severe outcomes. Such events are described by their extraordinary irregularity, nearly catastrophic impact, and far-reaching belief that they were obvious in retrospect. For instance, the 9/11 attack is considered the perfect example of the Black Swan event. However, today we focus on another occurrence within the Black Swan category, that is Black Thursday of September 2015.
Financial markets are vulnerable to all kinds of events. Most of the largest crashes that have occurred in the history of stock and investment markets came unexpectedly though they were still modelable. However, that one case with January 15th, 2015 European currency market was essentially an unpredictable Black Swan event.
Since September 2011, the Swiss National Bank has been using a cap of 1.20 EUR per Swiss Franc. As per their initial decision, the cap served as a protection of the local economy from an overvalued CHF. Allegedly, two events contributed to SNB’s decision to abandon the cap. Firstly, it was falling oil prices at the end of June 2014, which in turn decreased the value of the Russian rouble, trading at 76.5 roubles to the Euro. The speculations following the event led to the green light to start quantitative easing that would drive the euro even lower in relation to the dollar. Furthermore, the anticipation of the results of Greek elections contributed to the thought that investors would start looking for safe havens, such as stable Swiss Francs. SNB would have to intervene once again to keep the ceiling on its currency, which the bank apparently did not wish. But only 3 days prior to Black Thursday, SNB still held the position that it would protect the cap on Swiss Franc.
After 4 years, all of a sudden, the Swiss National Bank changed its mind and blew the currency market within several minutes.
On January 15th of 2015, SNB abandoned the above-mentioned exchange rate cap on CHF. Investors on the Swiss stock market reacted immediately. As soon as they made an announcement that the cap was abolished the value of EUR crashed within 5 minutes. In most of the European region, the decision instantly triggered immense bank losses for major currency dealers.
Impact on exchange rates
After two minutes from the statement, the Swiss Franc was already trading 11% higher against the Euro. It gained further 19% after seven minutes and continued to appreciate until it reached 41% appreciation, whereas the Swiss Franc reached the peak of 0.85 Francs per Euro. Just a day before, Euro stood at 1.2 Swiss Francs.
As a result of the SNB’s decision, the Swiss Franc increased in value by 25% against the US dollar as well, at which point the dollar was trading at 0.8900 CHF. The 40% gain over the Euro of Swiss Franc along with the strengthened value against the dollar within such a short period of time caused unprecedented losses for the brokerage industry.
Losses within Brokerage Industry
Total losses of the brokerage firms are estimated to be well over 1 billion US dollars. Retail broker of the United Kingdom Alpari UK went broke immediately after a day from the announcement. Deutsche Bank officially declared its losses of over 150 million US dollars due to the severe volatility of the Franc to the media. Interactive Brokers also stated that their losses surpassed 120 million US dollars.
Forex Capital Markets – FXCM
Furthermore, one of the largest online platforms and one of the most popular currency trading brokers FXCM Inc FXCM.N announced that they were in a serious breach of regulatory capital requirement since their clients have lost more than 225 million US dollars. The shares of FXCM Inc lost 90 percent of their value in pre-market hours on Black Thursday anticipating serious threats for the regular trading session on the NYSE.
The management of FXCM Inc had to rush to their offices and go through company books till the very morning on Friday in order to figure out how to help the free fall of the company stocks. They managed to rebound from the premarket losses, however, FXCM.K still remained 70% down from Thursday’s close.
A back-then parent company of FXCM, Global Brokerage Inc filed for bankruptcy after several months as its shareholders lost more than 98% of their investment during the crash and the company was eventually banned in the United States. FXCM Group then was acquired by Leucadia National Corporation and remains as the parent company of FXCM till today.
Hit on Equity Markets and Economies
Consequently, major European equity markets also experienced a significant hit. The overall Swiss benchmark stock index decreased by over 10% in the given month.
The Swiss Market Index was down to 8,400.61 which was an 8.7% fall, the worst position after 1989. The major stocks experienced a strong downfall, such as Swatch Group AG which was trading down by 16%, Actellion LTD. lower by 14%, Nestle shaving off 6.2%, and even JPG Morgan Chase & Co. declining by 3.5%.
In Greece and Poland, over 650 000 households were having CHF-dominated loans. In Greece, the total loan amount in CHF was estimated at 800 million Euros. Black Thursday event led to non-performing loans in Greek and Polish banks.
Hundreds of brokers suffered from the Black Thursday events and tens of them went broke on the same day. While others had to deal with the long-term effects associated with the extreme volatility of the Euro and Swiss Franc. However, surprisingly not all brokerage firms suffered.
GAIN Capital Holding Inc. in fact, generated massive profits on Thursday and eventually managed to win market share. The stock prices of the company were up by 2.9 percent on January 15th, selling at 8.52 US dollars.
How Switzerland was affected
The overall economy of Switzerland was hurting as well. The risks of increasing inflation led to major speculations within the country. The exports were also hurt badly due to the rapid strengthening of the Swiss Franc. It went down by 2.6% in 2015. Furthermore, the Swiss National Bank announced that it lost around 50 billion Swiss Francs in the first half of the year due to losses on foreign exchange positions. Additionally, the tourism industry was affected significantly, reducing the number of visitors to the country due to the increased exchange rate of EUR to CHF.
What can we learn
It is important to understand the causes and effects of Black Thursday, especially for the traders and brokerage firms, since more than 90% of currency trading involves brokers as counterparties. This particular Black Swan event caused the introduction of a view that Negative Balance Protection is a necessity within the brokerage industry. On 18th September 2017, the CySEC introduced negative balance protection on a per-account basis, meaning that in case the trader has two leveraged accounts, the funds on one account can be used as negative balance protection. However, on the whole, the trading account cannot have a negative balance.
It is important to always check the insurance of the broker when going through the broker review. Many brokers offer insurance amounts from $100,000 to millions of US dollars. The insurance is intended to cover any losses caused by unprecedented and force majeure events. Since the 2015 franc-euro crisis, more and more brokers began to increase their insurance pool.
Furthermore, traders understood that sky-high leverages are not necessarily in their favor. High leverages with currency pairs is never a good idea as it is a clear binary risk and the market is overly volatile. As a result of the Black Thursday crash, ESMA updated regulations on maximum leverages applicable to various trading products. For instance, cryptocurrency products cannot be leveraged higher than 2:1 anymore.
You should always check the fundamentals of the currency pairs you are going to trade with. It would be better to avoid trading pegged currencies at all if you want to be completely safe from potential Black Swan events.