After more than a year’s busy preparation, WikiFX Magazine will be released in Hong Kong for the first time! On this special occasion, we’d like to give our sincerest thanks to our clients and business partners for your supports.
Statistics show Germany’s manufacturing PMI in December reached 43.4, less than the expected 44.6. Overall, manufacturing PMI of the whole Eurozone sat at 45.9, a decrease from the previous 46.9 and lower than the expected 47.3. The protest that broke out in France recently is also worrying.
The Sino-U.S. trade war has become the focus of the market since it broke out, and the escalating situation year to date has drawn investors’ attentions. Although the scheduled tariff raise was postponed twice, as the trade negotiations continue to deepen, the market generally believes that the tariff decision launched on December 15th will be a turning point in the Sino-US trade war. For China and the United States as global powers, the trade war is actually a "lose-lose" situation, so both sides are also trying their best to reach an agreement and inject confidence into the market.
Survey shows that the Swedish central bank may raise the negative interest rate to zero and become the only central bank to do so, though it’s not the first central bank to implement negative interest rates. This week's decision to raise interest rates may not be consistent with economic performance. Although the Swedish economy is not in a crisis, it is still slowing down.
Last month, WikiFX exposed illegal broker AAFT GLOBAL whose unauthorized manipulation of investor’s account wiped out investor’s entire account balance. One month later, the broker is again in the spotlight for blocking investor’s withdrawal, while its official website became inaccessible and customer service remained out of reach.
As global financial hubs, Europe, US, China and Japan have a large group of residents keen on investment and a wide client base of forex brokerage, thus being attractive to numerous forex brokers who flocked to expand their business in these areas.
Last year, Japanese Kanto Finance Bureau issued a warning against MGK Global Limited, an unauthorized broker in Labuan F.T, Malaysia that operates brands including MGK GLOBAL and MGK.GLOBAL.
In speaking of investment, broker scams in forex trading seem to be a recurring theme. As with many industries, the fast growing forex industry also has plenty of predators, who look to take advantage of newcomers. The following story is shared by SaFWat, an investor who sought WikiFX’s help after being defrauded by TurboForex. He reported the illegal broker to warn other investors against it.
Daniel Sihombing has been a victim of Soros FX. This is an illegal broker who defrauded investors in the name of another regulated broker PT. Java Global Futures, registered with BAPPEBTI and the Indonesian Ministry of Trade and located at APL Tower Central Park Lt. 25 Podomoro City, Grogol, West Jakarta.
Although illegal brokers tend to use similar tricks, many investors still fall victim to these traps. In a recent complaint against broker scam that WikiFX received, the illegal broker Shi Jin Investment tricked investor in a way that appears surprisingly similar to that of ZHENXI Investment, a formerly exposed broker.
In speaking of investment, broker scams in forex trading seem to be a recurring theme. As with many industries, the fast growing forex industry also has plenty of predators, who look to take advantage of newcomers. The following story is shared by a Korean investor who sought WikiFX’s help after being defrauded by Robinhood. He reported the illegal broker to warn other investors against it.
Mr. Odai, interested in forex investment, signed up on a forex website named Saudi money and submitted personal information including his name, phone number and email. A few days later, Mr. Odai received a call from a British number. The man who called himself Mustafa Jamal spoke to Mr. Odai in Arabic, telling him about the global stock market and that he should also consider trading because it makes good profits. In an effort to convince Mr. Odai, the man kept in touch with him for a week, and finally talked Mr. Odai into opening an account with US$250 of deposits.
Near the end of the year, as all walks of live strive to meet their goals, even scam brokers become more active in preying on investors. Recently, an investor from Oman reported to WikiFX how the illegal broker Financika defrauded him. As a victim of the platform, he hopes his experience can warn others against this broker.
From a seasonal point of view, gold price tends to bottom out near mid-December and may soon see a reverse trend. According to World Gold Council (WGC) data, global gold ETF holdings have lost about US$1.3 billion from the peak in September.But even so, gold ETF holdings have increased by almost 35% this year; if the US dollar index falls below 96, gold will likely start to rise again.
According to regulatory information, Topgrowth Futures’s office is located at Sahid Sudirman Center LT. 40 Jl. Jend. Sudirman Kav. 86 Jakarta, and WikiFX recently visited the broker at the location.
Bank of International Settlement (BIS) recently issued a warning to the forex market, saying that the proliferation of forex platforms and investment channels has led to a greater dispersion of capital, which can increase the risk of liquidity crunch for some forex brokers in times of high market volatility. Though JP Morgan’s latest global forex volatility index is at a record low since 2014, the forex market faces new risks as signs of fluctuation emerge.
Last time, we visited UOB Branch in Malaysia. It turned out that the location of its Malaysian licensed office corresponds to the regulatory information. The company is in business under the regulation of LFSA. As an “eye” of global investors, we conduct spot checks on forex brokers and present all the info on the WikiFX app to better serve forex investors, helping them find the reliable forex brokers while keeping them away from illegal ones. Today, we're visiting DBS in Malaysia.
As of November 26th, 2019, speculative net shorts for the British pound increased by 4,673 to 36,576. Among them, speculative longs decreased by 559 to 38,646, and speculative shorts increased by 4,114 to 75,222.
Against the backdrop of expanding negative bound yield,gold may gain greater appeal among central banks worldwide in 2020 as a unique type of asset.
WikiFX | News 2020/2/18 10:26:09
WikiFX | Exposure 2020/2/17 9:48:33
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