A forex trader needs to know that all trading platforms are not alike. There are numerous factors which make up a trading platform and it usually begins with the forex broker that you are working with that provides you the best platform on the street. When working with a forex broker some of the items that the forex trader should keep in mind prior to trading forex or any other financial vehicle is; what strategic tools does the forex broker offer you when trading, what is the customer service solutions that are associated to the trading platform, what types of financial vehicles can I trade regularly over the trading platform and what type of technology does the forex broker have to increase my user experience.
The financial tools which the forex broker provides with their trading platform are very important as it relates to your forex trading success. The forex trader should be certain that the forex broker has trading signals associated to their trading platform which will allow the forex trader to take advantage of years of knowledge and experience obtained from expert traders and analytics. Video tutorials are also an important aspect of a forex broker’s platform which will allow the forex trader to educate themselves to becoming a successful forex trader. Forex calculators allow the forex trader to calculate comprehensive statistics on their trades. A forex trader should be certain that the trading platform has strong technical analysis tools. Some technical analysis tools would be Moving Averages, Bollinger Bands, Relative Strength Index, Stochastic Oscillators and Fibonacci Retracements to name a few. Fundamental analysis tools are also very important when utilizing a trading platform. The forex broker should have a strong financial calculator which allows the forex broker to follow items such as economic indicators. Without the ability to track items such as Gross Domestic Product, Producer Price Index, Consumer Price Index etc. the forex broker will miss out on trading opportunities.
When utilizing a forex brokers services the forex trader much understand that customer service in this fast paced environment will invariably cost him/her money unless the forex broker has a strong customer service track record. When searching for a forex broker the forex trader should be concerned with items such as how do they communicate with the their broker when necessary. Many of the better forex brokers on the street offer numerous forms of communicate from telephone, chat, fax and e-mail. In addition, the better forex brokers on the street will also offer one on one training with their customer base.
There are numerous financial products that can be traded though forex brokers. It is the responsibility of the forex trader to find out what these products are that they are able to trade. Today, many forex brokers allow their traders to place trades with forex, Contracts for Difference (CFDs), commodities, indices as well as securities. The forex trader should be confident that if they are interested in diversify their portfolio this is an option.
The technology utilized by the forex broker for their platform is paramount. A forex trader not only wants to know that the trades that they are placing are secure but they are also encrypted. In addition, the forex trader should research to determine the options they have when utilizing what devices they can use when working with the forex broker. The more advanced brokers on the street allow their clients to not only trade through software on their desktop or laptop but also allow them to leverage trading through the internet along with trading over mobile.
In closing, there are numerous forex brokers presently offering their forex trading platforms to their clients. The forex trader should research which offer the greatest bang for their buck and offer them the proper tools and support to enhance their trading experience.
Taking out any kind of loan can be a necessity at times. Many people will get a mortgage when buying their first home, especially with the housing market’s price boom, or borrow money when they need a new car, have to make home repairs or for all manner of reasons.
While it can be a potential lifesaver at the time, when it comes to paying the amount back you can often wonder if it was worth it. Thankfully there are a range of methods you can use to make your loan repayments a lot more manageable.
Debt Consolidation Loan
One option for tackling any outstanding debt is to put it all in one place with a debt consolidation loan. Loan repayments, credit and store card debt can all be put in one place which makes working out your weekly repayments simple. It creates a more manageable single repayment, often over a longer period of time which can make it more affordable as well.
Super Balance Transfers
Certain credit cards offer super balance transfers which allow you to transfer money directly into your bank account at a low or even zero percent interest rate. This can then be used to make loan repayments without the added interest incurred elsewhere. However, sometimes these do still come with a fee so you will need to work out if it is more cost-effective or not. Be disciplined to make repayments so you don’t increase debt.
It may seem like a long shot but depending on the type of loan you’re making repayments on and when it was taken out, you may be able to claim back payment protection insurance (PPI) if it was mis-sold. This would certainly make repayments more manageable as what you reclaim could go towards paying off the loan as well as making the payments significantly smaller.
Make Early Repayments
If you’re lucky enough to have received a bonus or pay increase at work recently and are still paying off loans, making early repayments could be a good use of this extra money. Many allow you to make extra repayments which go towards paying off the loan sooner, which reduces the amount of interest paid and therefore the total amount. Some even allow you to pay off the whole thing in one go, but only if you’re in a good position to afford it.
Back in 2007, the global housing market was riding on the crest of wave while experiencing significant and seeming unstoppable growth. This came to a shuddering halt with the subprime mortgage collapse in the U.S, however, where reckless lending and borrowing triggered a raft of defaults and altered the nature of the market forever.
This led to the formation of the quick house sale market, while also forcing lenders to implement extremely stringent measures on applicants with a desire to borrow funds. While the markets has eased considerably as it has recovered, the portents for a further global recession in 2016 have forced the Bank of England (BoE) to consider implementing more robust measures in the buy-to-let marketplace.
According to Property Rescue, the BoE is considering making a raft of lending controls in a bid to consolidate the growth of the buy-to-let market and minimise damage in the event of a worldwide recession. While some believe that this simply a response to spiralling price points, rental premiums and relentless growth, others believe that a global economic collapse would hit the buy-to-let market hardest and trigger a catastrophic outcome.
In this regard, the actions of the BoE would appear to be more of a damage limitation exercise than a progressive economic plan. By restricting lending and managing growth, it could limit the losses that were made in the face of an economic collapse. This is undoubtedly a plan that has been made with the previous recession in mind, as the sheer impact of the 2008 collapse has created a legacy and sense of fear that remains tangible to this day.
While there is some logic in this approach, it may not be the best course of action given the fact that the extent of any potential recession cannot be determined at this stage. With the BoE’s latest Financial Stability Report also confirming that they buy-to-let market remains a central driver of the British property market (and the economy as a whole) an overly aggressive approach to regulating lending could damage the sector irreparably in the long-term.
In this regard, it may be pertinent for the BoE to think carefully before making any dramatic changes to the criteria for lending. This will have a huge impact on the future growth of the market and the economy as a whole.