Category Archives: overseas banks

Currency Trading Scams-Preventable?

Currency Trading Scams-Preventable?

Currency Trading Scams

Have you been giving serious consideration to investing in the Foreign Currency trading market? If you have, there are many situations ahead of you which need much thought.

Trading Scams

Keep in mind that in all areas of life, there are scams, folks are out there who have figured out how to cheat you and others out of their hard earned money.

How To Avoid Forex Scams

If you can not manage to lose money then do not get into the currency trading market. Do not use your retirement funds for Forex currency trading; that would be exceptionally silly and foolish.

FOREX Swindlers

Forex Currency trading tricksters typically bring in potential victims through ads in regional newspapers, radio and TV promotions or appealing Internet websites. These specific ads could advertise low-risk with very high-return financial investment chances in FOREX exchanging. They could even offer highly paid FOREX job opportunities. Be very doubtful when promoters of foreign currency trading claim that their assistance or account administration will make high profits with nominal dangers. Be wary if these tricksters declare that work as a Foreign currency trader will make you wealthy very quickly.

How to identify Forex scams in 5 steps

Once your cash is gone, it is always difficult to get it back. Be really cautious of a business that will ensure you a revenue. Forex currency trading that includes get rich quick schemes are generally swindles.

On Line Currency Trading

Be extremely careful of online trading, it can be difficult to obtain a refund but it is extremely simple for your funds to be moved. The web likewise can hide where a Forex trading or broker business hangs out.

The Web offers a very simple approach for scammers to connect with countless victims. Should move any cash to an off-shore location for trading, getting it returned might be hard.

You need to research the background of the broker you will be trading with. If you are not completely pleased or comfortable with the details you find, then simply do not deal with that particular broker. You should request all info be put in writing. It would not hurt to contact the Better Business Bureau, but do not rely on verbal information. Again, if not totally satisfied with the information, do not deal with that broker.

Interbank Transactions

In the Foreign Currency trading world, you might have heard the term ‘interbank’ transactions. It refers to a loose chain of Forex currency transactions that are bargained between financial organizations and other big companies.

Suppose these banks or financial institutions are the only ones trading in this interbank market. This can be an indication of an unethical trading business. Be careful of a financial institutions that suggests you ought to trade in their inter bank market.

Margin Trading

Trading on the margin allows you use less of your own money when trading. This can be financially dangerous. Margin trading is good if you are winning, but if are losing you will be responsible for losses that are higher than the dollar amount you transferred. Those dollar amounts, in fact, control a far bigger dollar quantity of trading.

Often the trader is unaware of the margin range put on by the broker which can be a series of $1,000 to as high as $5,000. Sometimes even higher. So, be sure to totally understand the rules of the broker when it comes margins and be ready to accept losses which may surpass the margin amounts anticipated.

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Credit Suisse has a new Head of Strategic Client Coverage

Henrik Aslaksen

There are rports of banks around the world are having some difficulties, so, bring in new leaders could be of some help….

Credit Suisse has brought in former Deutsche Bank executive Henrik Aslaksen, who joins the lender as its newest Head of Strategic Client Coverage for its investment bank and capital markets division (IBCM) across the Europe, Middle East, and Africa (EMEA) region, according to a recent Reuters report.


Will China’s banks increase credit risk

China PBOC Chief

And how will that affect the U.S. economy…..

People’s Bank of China Governor Zhou Xiaochuan warned banks about increased credit risk amid rising real estate prices in the biggest cities, while adding the country can achieve its economic growth targets without too much monetary stimulus.

Who has extended the banks FOREX trading hours

china bank trading

If you are trading the YAUN, this information could be important…..

China is to extend the trading hours of the interbank forex market by seven hours and allow more foreign entities into the market, according to a Wednesday statement by the People’s Bank of China (PBOC).
From Jan. 4, the closing time for interbank foreign exchange market will be extended from 4:30 p.m. to 11:30 p.m. Beijing time, with the opening time unchanged at 9:30 a.m. –

What is in your mind for the British Pound

brirish pound and trading

Watching the posts of other currency traders has always been beneficial by adding a nugget of good information….

In the short term the GBP has the potential to weaken further as the market reprices BOE expectations. Read through my GBP update bellow to familiarize with the latest changes.

China and Overseas Banks – Forex Market

china and overseas banks

If there was any doubt that “Globalization” was becoming more and more of a reality, what is happening in China….

The Chinese central bank has announced that it has cleared seven foreign financial institutions to enter its interbank foreign exchange market.