Business Pages

Your 360 Degree Business Knowledge Resource

Tag: Online

Considerations to Make Before Choosing a Forex Broker Online

While the popularity of forex markets is growing exponentially, it comes with numerous risks. Before indulging in the forex realm, there are numerous considerations to make. First, understand that markets…

Continue Reading

While the popularity of forex markets is growing exponentially, it comes with numerous risks. Before indulging in the forex realm, there are numerous considerations to make.

First, understand that markets forex is the biggest globally so far. While it has shown massive potential for growth and gain, it can expose traders to huge losses.

Some of the factors you should consider prior to joining the forex market are; trading strategy, capital flexibility, and personal objectives.

The right forex broker is capable of propelling you towards forex trading success. Below are various things you should put into consideration before choosing an online forex broker.

1.     Legitimacy

As the forex market grows, many illegitimate forex brokers are taking advantage of the growth to swindle unsuspecting traders of their hard earned money. It is, therefore, important to do due diligence before signing contracts.

Ensure that the broker is duly registered with Futures Commission Merchant, and also regulated by CFTC (Commodity Futures Trading Commission.) Browse through their website for more financial statistics and information in regard to brokerage.

If you are not yet convinced, proceed to their parent organization’s website. Tread carefully if there is no convincing information. This will prevent you from losing your money.

2.     Foundation

The number of forex brokers online is increasing each day. This is enough reason to exercise great caution before committing yourself in any contract. Remember, forex brokers are often affiliated with big lending organizations or established banks.

This is attributed to the high leverage in the forex market. Many brokers provide approximately 100:1 leverage which usually translates to huge sums of money. Do your background check and conduct enough research to establish the organizations behind the brokerage. Find out how stable they are before signing any contracts.

3.     Accessibility

How accessible are they? Do their customer service numbers work? And if they do, how does the personnel interact with their customers? As it is with many companies, do due diligence on your forex broker before making any commitment.

Establish how effective they are when it comes to supporting their customers. Ensure they are competitive enough to handle and solve problems you may have whether they are general or technical.

Seek to find whether they have designated staffs particularly for handling customer complaints. Do not engage yourself if the broker appears to be lax in service delivery. Remember, sub-standard customer service is risky in the forex realm. It can result in huge losses which you want to avoid.

4.     Resources

Today, the average foreign exchange broker provides a wide range of services. The real trading is executed through their trading systems and this should be evaluated and assessed before the signing of any contracts.

Ensure that the system can compete with modern market standards which include actual time charts, live news, consolidated technical regulation tools, trading system support, and up to date market information.

Some brokers provide fundamental and technical evaluation, various trading tools, and economic calendars. Ensure that the broker provides you with a whole range of services in order to increase your chances of success in forex trading.

5.     Type of Account

Your trading requirements determine the type of account you choose. Do your research on the different accounts available prior to indulging in the forex market. When you finally decide to begin searching for a forex broker, ensure they provide various trading account types.

6.     Leverage Resilience

Forex markets come with increased leverage. It is the only market where traders have the potential to make huge amounts of money from limited investments. Even then, increased leverage does not always work for every trader.

High leverage increases the risks. If your investment capital is restricted, increased leverage enhances your opportunities. However, if you have huge investment capital, your leverage will decrease. Always ensure that the broker provides various options depending on a trader’s requirements.

Finally

The markets forex is always developing and as technology advances, it is certain to experience more growth. Additionally, there is huge forex trading profit potential in any global market. Even then, take time before indulging in forex trading. The above guide should help you choose a suitable forex broker.

No Comments on Considerations to Make Before Choosing a Forex Broker Online

British Government launches new cyber security export strategy

The internet has created tons of opportunity for new businesses and unfortunately, that includes the business of cyber terrorism. Email hacking and data breaches through websites occur frequently, keeping the…

Continue Reading

The internet has created tons of opportunity for new businesses and unfortunately, that includes the business of cyber terrorism. Email hacking and data breaches through websites occur frequently, keeping the rest of the cyber space on its toes. It is a global fight and the British government recognises the need to take the fight further.

With Brexit fast approaching, the government has had to carefully consider what industries and areas of expertise are promising enough to serve as growth export markets after the country leaves the EU. The Department for International Trade (DIT) has launched a new strategy to export the UK’s cyber security market.

According to Dr Liam Fox, the new strategy will position the 800 cyber security companies in the country to protect networks across the globe and provide security for high profile international buyers, who need something more than the level of security dedicated servers can provide.

What Exactly is the Cyber Security Export Strategy?

The DIT’s new strategy focuses on three levels of support:

First, DIT will serve as a trusted advisor connecting governments, CNI and financial services providers with UK companies that can provide the security solutions they need. In order to achieve this, the DIT will use its global offices while working closely with industry leading bodies, academia, trade and commercial experts, as well as other parts of government.

The target countries include India, which is considered to have potentially large opportunities; Japan where the government could use some help building capability for cyber security, especially as the Tokyo Olympics and Rugby World Cup are underway; the Gulf where the focus will be on central banks and other areas of the financial sector, as well as national infrastructure and government; the USA, who is a key partner with wide-reaching expertise; and Singapore, who serves as the South East Asian cyber-security hub.

Secondly, six key sectors have been identified as areas expected to have the highest security budgets since they happen to be prime targets for attackers. These include the financial services sector where spending on cyber security went up to £16.09 billion in 2016. Governments spent even more, with spending reaching £27.66 billion. Next on the list is healthcare, having spent £4.06 billion. Over the next three years, these figures are expected to explode, so there can be no better time than now for DIT’s strategy. The other target markets are automotive, infrastructure, and CNI.

Thirdly, the strategy is expected to help with marketing and branding around the globe. Smaller companies would have the support they need to secure cyber security contracts and anyone would be able to access DIT offices globally.

Export controls

In the area of export controls, there are concerns about cyber security companies selling to repressive regimes and companies who hide the end user. There are also concerns regarding how cyber security products can be potentially abused. The DIT’s export strategy document indicates the body’s intent to ensure that licensing decisions are timely, well-informed, and rigorous.

No Comments on British Government launches new cyber security export strategy

Type on the field below and hit Enter/Return to search