Now you get me. Even if you carefully set up your structure on an English-speaking island or peninsula, suing is clearly not an option as you would instantly turn yourself in for tax-evasion, money laundering and who knows what else. And I can assure you Carlos knows it well too.
Even if Carlos performs his duties well, you might end up in an awkward situation if the whole structure somehow got unveiled and you need to explain your case to some black-suited guy on federal payroll. Still not quite legal option — the Canadians, yet again! Sounds good, but still barely legal. Due to anti money-laundering laws your friend will be asked about the beneficial owner of the funds.
The same goes for withdrawing funds but the key issue here is trust yet again. There are some barely legal brokers who usually lack any kind of regulation and deliberately go against the law. You will never be able to force them to send your money back. You can threaten them with legal action, but they will disappear when things get tight. This is their business model. Boring legal option — Trading with American broker A totally legal method, finally.
Not many though. You can find a link to the actual full list of CFTC licensed brokers at the end of the article. The total list of forex brokers who can deal with US clients Let me introduce 3 categories first, since this is how NFA categorizes its members. Forex firms They can offer forex trading, but cannot be the counterparty of these trades.
While RFEDs can deal only in spot forex products, FDMs are allowed to deal in other asset classes like futures, options — further limitations and restrictions of their business activity may apply, obviously. Online stock trading websites allow people to have access to information that is put together by professional analysts and companies. This type of information would have been extremely difficult to obtain half a century ago. Differentiation:[ edit edit source ] With the success of the early online brokers such as Datek and E-Trade, there was an influx of competitors and the need for differentiation became apparent between all participants, online and traditional brokerage houses.
Because of all the options to the consumer, all players must differentiate in order to reduce customer churn. Examples of differentiation range from trade-able securities, to fees, to quantities of information and analysis. Fee and commission structures typically will vary based on the type of execution desired whether its limit, option, or margin trading. Online-brokerages also have increased the breadth of research tools available to its consumers.
For example, an account with Ameritrade offers a stock screener, analyst recommendations, option chain analysis, charting tools, and industry multiple comparisons. Online-brokers even have educational material which allows the customer to learn more about trading, strategy, and market analysis.
When it comes to differentiating yourself from your competitors in the online stock trading world, a few options are possible. Referring to the Online Stock Trading Review from toptenreviews. The fees and commissions portion of differentiation tends to be a large deal breaker to potential users. This policy will make low income consumers back away but then again consumers want the best deal possible.
Having a tiered commission structure is also another key feature in some sites. Another important feature that differs among competitors is the amount or type of investments offered. Not only are users looking for low prices, but also a menu of options for investing. Simplicity is yet another way for sites to differentiate themselves, and providing trading or investment tools is helpful for those who are looking for an easy route to online trading.
A recent addition to optional tools demanded by some potential customers happens to be mobile tools. Not all of the top online trading sites offer this feature, but with the advancement of options with mobile phones continuing, more users are looking for this easily accessible alternative. In managing securities, one hopes to be able to execute trades quickly and efficiently at the lowest possible cost. The hope of the brokerage house is that by providing the greatest breadth of services, customers will be less likely to switch to a competitor.
This strategy may also fall into differentiation, but it would be a very mild form of it if this was the extent of the differentiated product. Barry L. He mentions that a firm which can distinguish itself with a better business model can be more successful than other online brokers. He presents a series of ideas which will help achieve this type of business model, and these ideas include: Advertising, Blog, Commentary, Database, Education, and Fund. This can lead to a repositioning of competition from direct to indirect when it comes to information goods such as online stock trading sites.
In a blog about business strategies from tutor2u. The special customer needs of the segment mean that there are opportunities to provide products that are clearly different from competitors who may be targeting a broader group of customers. The idea is to make their specific online trading site more appealing to a certain group of consumers than any other site which they are indirectly in competition.
By offering different, not necessarily better, tools and options, the business can target a smaller yet dependable group of consumers. Differentiation can allow a business in the information goods market to offer some consumers new options and meet needs that the other competing firms cannot.
Although previous paragraphs have mentioned the different options online stock trading sites can offer in order to create a type of differentiation tools, fees, simplicity and such , it might be appropriate to look at differentiation from an easier perspective.
An almost too simple yet very straight forward example of this form of differentiation can be seen with ice cream shops although it does not relate to online stock trading sites whatsoever. In this market, almost all ice cream shops carry the same flavors in order to target a broad group of consumers. However, not all consumers may want the ordinary and everyday flavors. If one business in the market were to change their offering by making different not always better flavors, then they could possibly place themselves in a smaller market for those customers who prefer new and different flavors.
By differentiating themselves with their menu, they will most likely not appeal to the broad market they were once in, but they could secure a group of consumers who are looking for a product just like theirs. Although they are still competing as an ice cream shop, it can be seen as indirect because the offered product is unlike the product of the competition.
Quite a few businesses in this market offer similar features, making it hard to differentiate because of the market they are in various information goods can be simply too difficult to differentiate with aside from basic features. But, if it were possible to change what the site is offering aside from the fundamental features seen in the Online Stock Trading Review, then perhaps an information goods business would be successful in a smaller market with indirect competition.
Emergence of Day Trading and Firms entering the Market[ edit edit source ] After the emergence of the first Online Stock Trading Site, Datek, there has been lots of competition among firms to enter the market and secure market share. This is also when the career and popularity of day trading came about. With online trading sites day traders can now do trades from home and take advantage of a whole new way to earn a living but it's relevant to remind that in the moral-religious context the continuous research of money through speculative activities is to be avoided.
Day Traders have also contributed to a lot of volatility in the market in the s. There was a large amount of volume added to the market in the s also due to day trading. Also charging per trade is perfect for companies because many day trading strategies involve entering into positions to capture the movement of the stocks on a particular day, hence the term day trader.
The fee per trade allowed for companies to capture fairly significant margins on each trade made from their site.
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Their low prices and range of investment opportunities are attractive and its websites are user-friendly. The bonuses are attractive and customer support is easily available. Features The new TradeKing Forex site offers additional trading opportunities for TradeKing traders who up until now could not trade in the Forex markets. TradeKingForex offers useful research information and analytical tools, and traders have access to educational resources and customer service when needed.
There are many educational tools and charts and the choice of different trading platforms including a mobile platform adds to the attractiveness of this broker. This popular platform offers traders all the standard features and benefits of the MT4 platform as well as the use of Expert Advisors that allow them to systematically program their own strategies as well as formulate and seamlessly execute these strategies using Metaquotes Language 4.
In addition, with the TraderKingForex MT4 platform, traders can open, monitor and update an unlimited number of charts, set audio rate and indicator alerts and receive multi-lingual support —in 17 languages. With the mobile platform, traders can place trades quickly and see open positions plotted on live charts, monitor their account information, use 30 technical indicators with live interactive charting, create a Watch list and set audio rate alerts. TradeKing ForexTrader Desktop TraderKing ForexTrader Desktop is a robust, feature-rich platform that offers a highly intuitive user interface, advanced customization features and a variety of professional trading tools.
Traders can customize their trading environment with pre-set layouts or create their own. They can spot trends in the market using advanced charting functionality, including more than 70 technical indicators, robust drawing tools and integrated order management features. Flip between multiple charts and trade setups, layer on technical studies, even visually track and trade directly on the charts.
They have access to 15 pre-defined automated trading strategies for real-time buy and sell signals and stay on top of the markets with Dow Jones Newswires, streaming commentary and the latest research. TradeKing Forex trader TraderKing Forex Mobile The TraderKing Forex Mobile platform offers robust trading capabilities, real-time news and commentary, charting tools and the capability to recieve price alerts and manage your account.
TradeKing TradeKing is an online stock broker that offers a variety of trading options offering traders managed portfolios, binary options as well as a full line of stocks, ETFs and mutual funds. Traders can also choose among a variety of fixed income and debt instruments including 10 different bond types and CDs Certificates of Deposit with a whole range of maturity dates.
It failed to provide any explanation for the continuous appreciation of the US dollar during the s and most of the s, despite the soaring US current account deficit. Asset market model: views currencies as an important asset class for constructing investment portfolios. Asset prices are influenced mostly by people's willingness to hold the existing quantities of assets, which in turn depends on their expectations on the future worth of these assets. For shorter time frames less than a few days , algorithms can be devised to predict prices.
It is understood from the above models that many macroeconomic factors affect the exchange rates and in the end currency prices are a result of dual forces of supply and demand. The world's currency markets can be viewed as a huge melting pot: in a large and ever-changing mix of current events, supply and demand factors are constantly shifting, and the price of one currency in relation to another shifts accordingly.
No other market encompasses and distills as much of what is going on in the world at any given time as foreign exchange. These elements generally fall into three categories: economic factors, political conditions, and market psychology. Economic factors Economic factors include: a economic policy, disseminated by government agencies and central banks, b economic conditions, generally revealed through economic reports, and other economic indicators.
Government budget deficits or surpluses: The market usually reacts negatively to widening government budget deficits , and positively to narrowing budget deficits. The impact is reflected in the value of a country's currency. Balance of trade levels and trends: The trade flow between countries illustrates the demand for goods and services, which in turn indicates demand for a country's currency to conduct trade. Surpluses and deficits in trade of goods and services reflect the competitiveness of a nation's economy.
For example, trade deficits may have a negative impact on a nation's currency. Inflation levels and trends: Typically a currency will lose value if there is a high level of inflation in the country or if inflation levels are perceived to be rising. This is because inflation erodes purchasing power , thus demand, for that particular currency.
However, a currency may sometimes strengthen when inflation rises because of expectations that the central bank will raise short-term interest rates to combat rising inflation. Economic growth and health: Reports such as GDP, employment levels, retail sales, capacity utilization and others, detail the levels of a country's economic growth and health. Generally, the more healthy and robust a country's economy, the better its currency will perform, and the more demand for it there will be.
Productivity of an economy: Increasing productivity in an economy should positively influence the value of its currency. Its effects are more prominent if the increase is in the traded sector. All exchange rates are susceptible to political instability and anticipations about the new ruling party.
Political upheaval and instability can have a negative impact on a nation's economy. For example, destabilization of coalition governments in Pakistan and Thailand can negatively affect the value of their currencies. Similarly, in a country experiencing financial difficulties, the rise of a political faction that is perceived to be fiscally responsible can have the opposite effect.
Market psychology Market psychology and trader perceptions influence the foreign exchange market in a variety of ways: Flights to quality: Unsettling international events can lead to a " flight-to-quality ", a type of capital flight whereby investors move their assets to a perceived " safe haven ".
There will be a greater demand, thus a higher price, for currencies perceived as stronger over their relatively weaker counterparts. The US dollar, Swiss franc and gold have been traditional safe havens during times of political or economic uncertainty. Although currencies do not have an annual growing season like physical commodities, business cycles do make themselves felt.
Cycle analysis looks at longer-term price trends that may rise from economic or political trends. It is the tendency for the price of a currency to reflect the impact of a particular action before it occurs and, when the anticipated event comes to pass, react in exactly the opposite direction. This may also be referred to as a market being "oversold" or "overbought". Economic numbers: While economic numbers can certainly reflect economic policy, some reports and numbers take on a talisman-like effect: the number itself becomes important to market psychology and may have an immediate impact on short-term market moves.
In recent years, for example, money supply, employment, trade balance figures and inflation numbers have all taken turns in the spotlight. Many traders study price charts in order to identify such patterns. Spot trading is one of the most common types of forex trading. Often, a forex broker will charge a small fee to the client to roll-over the expiring transaction into a new identical transaction for a continuation of the trade.
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In addition, with the TraderKingForex MT4 platform, traders can open, monitor and update an unlimited number of charts, set audio rate and indicator alerts and receive multi-lingual support —in 17 languages. With the mobile platform, traders can place trades quickly and see open positions plotted on live charts, monitor their account information, use 30 technical indicators with live interactive charting, create a Watch list and set audio rate alerts.
TradeKing ForexTrader Desktop TraderKing ForexTrader Desktop is a robust, feature-rich platform that offers a highly intuitive user interface, advanced customization features and a variety of professional trading tools. Traders can customize their trading environment with pre-set layouts or create their own. They can spot trends in the market using advanced charting functionality, including more than 70 technical indicators, robust drawing tools and integrated order management features.
Flip between multiple charts and trade setups, layer on technical studies, even visually track and trade directly on the charts. They have access to 15 pre-defined automated trading strategies for real-time buy and sell signals and stay on top of the markets with Dow Jones Newswires, streaming commentary and the latest research.
TradeKing Forex trader TraderKing Forex Mobile The TraderKing Forex Mobile platform offers robust trading capabilities, real-time news and commentary, charting tools and the capability to recieve price alerts and manage your account. TradeKing TradeKing is an online stock broker that offers a variety of trading options offering traders managed portfolios, binary options as well as a full line of stocks, ETFs and mutual funds.
Traders can also choose among a variety of fixed income and debt instruments including 10 different bond types and CDs Certificates of Deposit with a whole range of maturity dates. TradeKing has one standard trading account. Trading options at Tradeking is simple. They offer 19 different option chains, 14 of which are strategy-based. Traders can easily find bid, ask and midpoint quotes, implied volatility and delta for individual options, or for an entire strategy.
Traders need only select the option or strategy they want to trade directly from the chain, and the order entry screen will be pre-populated for them. TradeKing Services Home page Platforms Proprietary The platform at TradeKing is actually the sole trading account and so whatever tools are listed are part and parcel of the actually trading platform.
Market psychology Market psychology and trader perceptions influence the foreign exchange market in a variety of ways: Flights to quality: Unsettling international events can lead to a " flight-to-quality ", a type of capital flight whereby investors move their assets to a perceived " safe haven ".
There will be a greater demand, thus a higher price, for currencies perceived as stronger over their relatively weaker counterparts. The US dollar, Swiss franc and gold have been traditional safe havens during times of political or economic uncertainty.
Although currencies do not have an annual growing season like physical commodities, business cycles do make themselves felt. Cycle analysis looks at longer-term price trends that may rise from economic or political trends. It is the tendency for the price of a currency to reflect the impact of a particular action before it occurs and, when the anticipated event comes to pass, react in exactly the opposite direction. This may also be referred to as a market being "oversold" or "overbought".
Economic numbers: While economic numbers can certainly reflect economic policy, some reports and numbers take on a talisman-like effect: the number itself becomes important to market psychology and may have an immediate impact on short-term market moves. In recent years, for example, money supply, employment, trade balance figures and inflation numbers have all taken turns in the spotlight. Many traders study price charts in order to identify such patterns.
Spot trading is one of the most common types of forex trading. Often, a forex broker will charge a small fee to the client to roll-over the expiring transaction into a new identical transaction for a continuation of the trade. This roll-over fee is known as the "swap" fee. Forward See also: Forward contract One way to deal with the foreign exchange risk is to engage in a forward transaction.
In this transaction, money does not actually change hands until some agreed upon future date. A buyer and seller agree on an exchange rate for any date in the future, and the transaction occurs on that date, regardless of what the market rates are then. The duration of the trade can be one day, a few days, months or years. Usually the date is decided by both parties. Then the forward contract is negotiated and agreed upon by both parties. NDFs are popular for currencies with restrictions such as the Argentinian peso.
In fact, a forex hedger can only hedge such risks with NDFs, as currencies such as the Argentinian peso cannot be traded on open markets like major currencies. In a swap, two parties exchange currencies for a certain length of time and agree to reverse the transaction at a later date.
These are not standardized contracts and are not traded through an exchange. A deposit is often required in order to hold the position open until the transaction is completed. Futures Main article: Currency future Futures are standardized forward contracts and are usually traded on an exchange created for this purpose.
The average contract length is roughly 3 months. Futures contracts are usually inclusive of any interest amounts. Currency futures contracts are contracts specifying a standard volume of a particular currency to be exchanged on a specific settlement date. Thus the currency futures contracts are similar to forward contracts in terms of their obligation, but differ from forward contracts in the way they are traded. In addition, Futures are daily settled removing credit risk that exist in Forwards.
In addition they are traded by speculators who hope to capitalize on their expectations of exchange rate movements. Option Main article: Foreign exchange option A foreign exchange option commonly shortened to just FX option is a derivative where the owner has the right but not the obligation to exchange money denominated in one currency into another currency at a pre-agreed exchange rate on a specified date.
The FX options market is the deepest, largest and most liquid market for options of any kind in the world. Speculation Controversy about currency speculators and their effect on currency devaluations and national economies recurs regularly. Economists, such as Milton Friedman , have argued that speculators ultimately are a stabilizing influence on the market, and that stabilizing speculation performs the important function of providing a market for hedgers and transferring risk from those people who don't wish to bear it, to those who do.
According to some economists, individual traders could act as " noise traders " and have a more destabilizing role than larger and better informed actors. He blamed the devaluation of the Malaysian ringgit in on George Soros and other speculators.
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