ForexPeople introduces ClickFX, South Africa’s first online solution to personal Forex trading

One of South Africa’s largest Forex intermediaries Forex People, has introduced ClickFX to offer South Africans a simple and cost effective way to transfer Forex online. 

Over the last decade the personal foreign exchange allowance has increased from a once-off R350 000 to an annual amount of R10 million. As a result, more and more people are looking at how they can transfer funds offshore to mitigate the continued fluctuation of the Rand. Currently, South Africans generally still deal with banks when it comes to Forex transfers. However, internationally it has become the norm to trade Forex using a specialist online broker.

The Forex market and the local regulatory environment can be quite daunting for an individual. Click FX offers a friendly, intuitive and reliable way to get a great rate when buying or selling Forex. As part of the Forex People family, Click FX benefits from the huge volumes traded every day, ensuring sharp exchange rates, low fixed bank fees, smooth processes and professional, friendly support staff; all via a secure online platform.

“What’s great about ClickFX is that it brings the bargaining-power of several hundred regularly-trading importers and exporters to the man on the street, via a secure online service,” says CEO, Richard Beddow. “Whether someone wants to send a large lump sum, or small regular amounts, the cost effectiveness and simplicity of ClickFX means anyone can send funds offshore as and when they want.”

Established in 2003, ForexPeople is a Johannesburg-based, privately-owned and managed, independent Foreign Exchange intermediary. It is regulated by the South African Reserve Bank, the Financial Services Board and the Financial Intelligence Centre. Recently clients have become more comfortable with technology and are now booking Forex trades using email, SMS, WhatsApp and Skype. ForexPeople identified an inherent need for a quick fix to Forex trading and this is where the idea for ClickFX originated.

ClickFX services individuals sending their allowances out of the country as well as expatriates bringing offshore earnings back in. “ClickFX is a fully-compliant Forex transfer service,” adds Richard Beddow. “It is not a speculative trading platform where people buy and sell Forex for personal gain.”

Using ClickFX is hassle free. Once registered, the system checks your FICA compliancy within 24 hours. You simply transfer the funds to your own Forex account, accept a rate, and trade. Within two days your Forex arrives in your offshore account, which ClickFX can open for you – if you don’t already have one.

You no longer need to be a wealthy individual in order to have an offshore portfolio. ClickFX proves that buying or selling Forex doesn’t have to be complicated or expensive but can be as easy as the click of a button.
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NZD/USD Forex Signal

NZD/USD Signal Update

Yesterday’s signals were not triggered as there was no bearish price action at 0.7239.
Today’s NZD/USD Signals
Risk 0.50%
Trades may only be taken from 8am New York time until 5pm Tokyo time, over the next 24 hours.

Long Trade 1

Go long following a bullish price action reversal on the H1 time frame immediately upon the next touch of 0.7150.Place the stop loss 1 pip below the local swing low.Move the stop loss to break even once the trade is 20 pips in profit.Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.

 Short Trade 1

Go short following a bearish price action reversal on the H1 time frame immediately upon the next touch of 0.7306.Place the stop loss 1 pip above the local swing high.Move the stop loss to break even once the trade is 20 pips in profit.Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.

NZD/USD Analysis

The RBNZ cut its Base Rate from 2.25% to 2.00% as expected. This is still the highest rate of any major global currency that is commonly traded in the Forex market. What was most notable about the accompanying statement was that it was less dovish than expected, and this had the result of pushing this pair up strongly to the key resistance level at 0.7306, from where it has been falling sharply.
The chart shows a fairly simple situation of a clean downwards movement with support at 0.7105 and resistance more or less at 0.7300.
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Rupee softens 6 paise against dollar

The rupee weakened 6 paise to 66.83 against the US dollar in early trade at the Interbank Foreign Exchange on Sunday following fresh demand for the American currency from banks and importers.

Moreover, the US dollar's gains against some currencies overseas on strong jobs data put the rupee on the backfoot, forex dealers said.
However, a higher opening of the domestic equity market capped the rupee's losses.
The rupee had strengthened further by 14 paise to end at 66.77 against the US currency on Friday on the back of sustained dollar selling by exporters amid weak overseas signals.
Meanwhile, the benchmark BSE Sensex rose further by 136.83 points, or 0.48 per cent, to 28,215.18 in early trade.
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USD/CHF Forex Signal

USD/CHF Signal Update

Last Thursday’s signals were not triggered as none of the key levels given were hit that day.

Today’s USD/CHF Signals

Risk 0.75% per trade.

Trades must be taken before 5pm London time today only.


Long Trade 1

Go long after bullish price action on the H1 time frame following the next touch of 0.9647.

Place the stop loss 1 pip below the local swing low.

Adjust the stop loss to break even once the trade is 20 pips in profit.

Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.


Short Trades

Go short after bearish price action on the H1 time frame following the next touch of 0.9728, 0.9770 or 0.9798.

Place the stop loss 1 pip above the local swing high.

Adjust the stop loss to break even once the trade is 20 pips in profit.

Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to run.

USD/CHF Analysis

The USD weakness that took hold at the end of last week really showed itself strongly in this pair, with the price falling extremely sharply. It now looks as if the price found some support around the psychologically key level of 0.9750 and while it may well not reverse, it is likely to at least take some kind of break from going down. A short trade looks like being the next higher-probability set up, but watch the candlesticks closely to see whether the impulsive move is in the buying or selling as this pair often likes to retrace sharp movements like the one that just occurred.
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Currency-predicting ETFs lag behind international stock funds

Algorithms are proving to be poor at timing currency markets, if a group of new exchange-traded funds is any indication.

In January, ETF-industry leaders BlackRock Inc's iShares unit and WisdomTree Investments Inc both launched slates of international stock funds that are inconsistently hedged against currency moves, based on when and how their algorithms tell them to hedge.

So far this year, of the seven funds in both groups, only one is performing better than comparable funds that are unhedged. Three of the seven also lagged comparable funds that were fully hedged against currency moves.

The funds - iShares' "Adaptive Currency Hedged" ETFs and WisdomTree's "Dynamic Currency Hedged" funds - attempt to protect U.S. investors from losing money on winning international stocks when they collect their foreign profits in pricier U.S. dollars.

Using algorithms to predict the currency's direction, the index funds choose when to "hedge," buying contracts that fix their exchange rate and protecting investors' winnings if a foreign currency falls.

But their predictive models - reset only once a month - may have been caught short by Britain's June 23 "Brexit" vote to leave the European Union, which was followed by an immediate sharp decline in the pound and rally in the yen.

The funds need more time to demonstrate their abilities, said iShares product consultant Dorothy Lariviere. In pre-launch testing, the Adaptive indexes beat a portfolio split evenly between a fully hedged and unhedged strategy, she said.

WisdomTree research director Jeremy Schwartz said he expects Dynamic funds, which he calls the future of international-stock investing, to beat their counterparts over the long term.

INSIDE THE BLACK BOX

Each fund company's algorithm is different and weighs multiple factors, but both hedge more when a currency they have exposure to has recently been depreciating, on the premise that the currency would continue on that path.

But betting on momentum could backfire when currency directions change. In June, for example, the dollar fell 6.7 percent against the yen while the iShares Adaptive Currency Hedged MSCI Japan ETF was 75 percent hedged in the opposite direction.

Adjusting hedges more frequently could raise transaction costs and "pick up a lot of false signals" from temporary currency fluctuations, said James Wood-Collins, chief executive of Record Currency Management Ltd, which helped WisdomTree create the Dynamic indexes.
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Foreign exchange market

Today, Forex trading has definitely become more intuitive and even more affordable to plain folks. Even newbies just getting their feet wet in FX trading and investing can actually kick-start their careers by capitalizing on never-ending innovative products and services leading to stunning and consistent profits at reduced risk.

 As the entire FX industry gets more and more mature, some of the best broker representing the entire industry keep on giving birth to revolutionizing products and services.  To be more specific, some of the best and most reputable FX brokers can boast their own services allowing anyone to benefit from FX trading over the long term, even without actual trading.

 For example, you can invest your savings in professional traders in order to capitalize on their trading activities along with them. All of that is capable within the scope of local PAMM services or some other similar services like that. The point is, you can get trading signals delivered by those pro traders right to your account in auto mode and still make money using those signals to your own benefit.

Benefiting From FX Trading Signals

Some of the most respected FX brokers have already taken this to a whole new level by coming up with various innovative solutions making it possible to let the system copy successful traders for you without your participation. The thing, if you want to copy those trades manually, you still have to open, maintain, and close those trades on your own. Frankly speaking, this may require a certain degree of skill and expertise in handling the software and knowing the trading fundamentals, which is something few investors actually prefer. With auto-copying, you don’t have to have that kind of skills and expertise, maybe apart from some fundamentals of using the very software, which is something you can learn in a matter of hours. The point is, you can get yourself up and running in almost no time.

At the same time, this feature allows you to save a lot of your precious time since you don’t have to wait for hours just to make a timely entry according to another signal. Basically, all you really have to do is register with one of the FX brokers offering auto-copying feature, open an account, choose one or several master accounts (also known as signal providers) according to your risk tolerance and other preferences, enable the auto-copy feature and that’s it! Now you are ready to get started! Those master traders and the software will do the rest for you, leaving you with the option to supervise and stay in control of the situation from time to time while being able to disable certain signals on demand at any time you want. This is a huge timesaver! This is also a great moneymaker if you are investing with the right company partnering with professional traders who deliver trading signals of exceptional quality.

To make it simple to grasp, if you copy the signals in auto mode, you can really have little or even zero experience in anything that relates to trading or investing and still enjoy stunning and consistent results, which come at reduced cost and relatively low risk. Once again, all of that is possible only with respected and honest brokers capable of delivering such winning signals on a regular basis.
Keep in mind that the conditions of having such signals copied to your account may very from broker to broker. With some of them, you are required to deposit a decent amount of money to be eligible for this kind of service. At the same time, there are brokers that may well neglect the importance of backing their services technically to prevent various breakdowns leading to losses and bad user experience. That’s why it is vital to take into consideration only the services with some of the best companies in the Forex industry.

With that being said, NordFX is one of such companies you can fully trust. To be honest with you, this is probably one of the best alternatives when it comes to trading signals, especially if to take into account the fact that NordFX is the World’s Best Forex Broker 2015 (Masterforex-V Expo) as well as the Best Broker for Auto-Copying 2015. These awards are not a random instance of luck. This is the result of the company’s consistency and professionalism over the years.