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Crypto and Forex Scam Reports Tripled in the UK Last Year, Watchdog Says

May 21, 2019 at 08:25 UTC Updated May 21, 2019 at 09:26 UTC news
Reports of cryptocurrency and foreign exchange scams in the UK grew threefold in the last financial year – spiking to 1,834 from 530 in the previous year, according to the country’s financial watchdog

Citing data from Action Fraud, the Financial Conduct Authority (FCA) announced Tuesday that, although the number of reported cases has increased, total reported losses actually fell from about £38 million ($48 million) to £27 million ($34 million).

The average individual loss has also dropped to £14,600 ($18,575) from £59,600 ($75,827)
The majority (81 percent) of the reported cases were related to cryptocurrency scams, the regulator added
Action Fraud director, Pauline Smith, said:
“These figures are startling and provide a stark warning that people need to be wary of fake investments on online trading platforms It’s vital that people carry out the necessary checks to ensure that an investment they’re considering is legitimate”
Scammers have increasingly been using social media platforms to promote their “get rich quick” schemes, often using fake celebrity endorsements, the watchdog said Investors were often led to believe that their first investment would turn a profit
Earlier this year, the FCA published a survey, saying that 73 percent of UK consumers don’t know what a cryptocurrency is, yet many fall prey to such schemes after being drawn to the lure of quick profits The regulator at the time said that it will consult on banning the sale of certain cryptocurrency derivatives to retail investors later this year – a ban the authority has been considering since last November
The FCA has warned several times on cryptocurrency derivatives products and unregistered crypto brokerage firms It is also working with the UK government and the Bank of England, as part of the country’s Cryptoassets Taskforce effort to form regulatory guidelines for the cryptocurrency space
UK coins image via Shutterstock

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Forex automation software for hands-free trading

The Bottom Line
If I told you there was a foreign exchange (forex) trader who is smart, unemotional, logical, ever-vigilant for profitable trades and who executes trades almost instantly when the opportunity arises and then posts the profit to your account, wouldn’t you want to hire this person right away?
Well, with automated forex trading software, you can have all of those qualities and more Also known as algorithmic trading , black-box trading, robo or robot trading , automated forex trading programs offer many advantages

It is designed to function without the presence of the trader by scanning the market for profitable currency trades, using either pre-set parameters or parameters programmed into the system by the user.

In other words, with automated software, you can turn on your computer, activate the program and walk away while the software does the trading for you How Does Automated Forex Trading Software Work?
Automated forex trading software runs on a program that analyzes currency price charts and other market activity over multiple timeframes The software identifies the signals – including spread discrepancies, price trends and news that may impact the market – to locate potentially profitable currency pair trades
For example, if a software program using criteria the user sets identifies a currency pair trade that satisfies the predetermined parameters for profitability, it broadcasts a buy or sell alert and automatically makes the trade The Upsides of Automated Forex Trading Software
A major advantage of automated forex trading software is the elimination of emotional and psychological influences determining your trading decisions in favor of a cold, logical approach to the market Beginner and even experienced traders may sometimes make a trade based on some psychological trigger that defies the logic of market conditions With automated trading , such all-too-human lapses of judgment just don’t occur

That’s because automated software is intended to make your trading decisions unemotional and consistent, using the parameters you’ve pre-established or the settings you’ve pre-installed.

For currency speculators who do not make trades based on interest rates but rather on currency spreads, automated software can be very effective because price discrepancies are immediately apparent, the information is instantly read by the trading system and a trade is executed
Other market elements may also automatically trigger buy or sell alerts, such as moving average crossovers , chart configurations such as triple tops or bottoms, other indicators of resistance or support levels or potential topside or bottom breakthroughs that indicate a trade signal
An automated software program also allows traders to manage multiple accounts simultaneously, an advantage not easily available to manual traders on a single computer

Serious traders can also benefit from automated software, as their other interests, obligations or occupations may not afford them the time they need to study markets, analyze charts or watch for events that affect currency prices .

That means that night or day, around the clock, the program is at work and needs no human, hands-on supervisor Selecting an Automated Forex Trading Program
There is no one-size-fits-all approach to forex trading, and the same goes for your automated software – every program has a number of trade-offs
Of the numerous automated forex trading programs offered on the market, many are excellent, even more are good but are not comprehensive in their features and benefits, and a few are less than adequate
Although some firms advertise “over 95% winning trades,” consumers should verify the validity of all advertising claims In some cases, software providers will provide authenticated trading history results to demonstrate the efficacy of the programs they’re selling However, it’s important to be cognizant of the oft-used disclaimer – past performance is no guarantee of future results
Below, we’ve outlined a few of the key selection criteria for traders considering automated programs 1 Fit Automated Forex Trading Software to Your Needs
Automated trading systems vary in speed, performance, programmability and ease of use Therefore, what serves one trader well may not be acceptable to another
For instance, some traders will want a program that generates reports, or imposes stops, trailing stops and other specific market orders Real-time monitoring is also a “must-have” item in any automated system Other traders, especially beginners and the less experienced, may want a simpler “plug and play” type of program with a set-and-forget feature
Remote access is also essential if you’re a frequent traveler or intend to be away from your computer for an extended period A web-based program may be the most useful and practical means of serving the needs of a roaming trader, as they’re guaranteed to function with a basic WiFi signal
In lieu of generic WiFi, Virtual Private Server (VPS) hosting is a service worth considering for the serious forex trader The service provides extremely fast access, isolates the system for security purposes and offers tech support 2 Fees and Guarantees
Fee transparency is a key quality to look for in providers, as some firms charge trading commissions and additional fees , which can draw down your profitability, so check the fine print in your user contract
Firms may also offer programs with return guarantees after purchase and during a specified period of time Therefore, if the user decides the program is unsatisfactory, those firms will allow you to return it for a refund
It’s also worthwhile to check out online customer reviews of many of these programs for an additional viewpoint on their virtues and flaws Some programs offer a free trial period or other incentives to buy, while other vendors provide a free demonstration to familiarize the user with the program 3 Take It for a Test-Drive
Since automated programs can be a costly investment, make sure firms can provide videos of their software programs functioning in the market, buying and selling currency pairs Additionally, it might be helpful to request screenshots or video walkthroughs of account action with trade prices for buy and sell transactions, time of execution and profit posting
When testing a new software system, run the tutorial or training function to see if it’s adequate and answers all of your questions You may have to call the support desk for answers to complex questions about programming, such as setting the buy-sell criteria and using the system in general If a “Help” link is offered, determine ease of navigation and usefulness Some of your questions may not be answered through information in the help section, and knowledgeable support from the system provider will go a long way to making a seamless trading experience
Firms may also offer a free, no-obligation test of their software so that the potential buyer can determine if the program is a good fit If this is the case, test the program’s installation and user experience functionality Also, make sure the software is programmable and flexible in the case you may want to change any pre-installed default settings Automated Forex Trading Software Purchase Checklist
Below we’ve summarized of a few of the key points in the form of a checklist to consider as you go through the automated forex trading software purchasing process: The most popular automated software systems will trade the leading currency pairs with the highest volume and most liquidity , including: USD/EUR, USD/CHF , USD/GBP and USD/JPY Trading approaches will vary in risk, with programs geared to scalping a few points in a trade to taking larger bets

The user should be able to dictate which approach to use, and the strategy may be adjusted in either direction.

Customer product reviews that are posted online are a good source of information about the software It’s highly advisable to read these before buying Price competition currently favors the consumer, so shop around for the best deal, but don’t sacrifice quality for price

Prices for trading packages run the gamut from hundreds of dollars to thousands.

Look for a high level of technical and service support This is essential for traders at any level of expertise, but is especially important for beginners and new-comers Beware of Automated Forex Trading Software Scams
Scams are an unfortunate reality in the automated forex software market, but they may be avoided by conducting due diligence on any firm

Check the websites of both the Commodity Futures Trading Commission (CFTC) and the National Futures Association (NFA) for consumer alerts.

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On the CFTC site, this information is available by clicking the link under consumer protection The NFA site has a database of registered member firms The Bottom Line
Whatever your level of expertise is in forex trading – beginner, experienced or veteran – automation software can help you be successful

Despite the evident benefits of using automated forex trading platforms, these programs are far from infallible and the user must be aware that this software does not guarantee an endless run of successful trades.

Yes, there are always potential risks when trading in any market, but automation software may help you avoid serious losses

Most importantly, keep a checklist of the most important features you’re looking for in a program, the level of customer support, and of course, that no trading system can guarantee 100% winning trades and that past performance is no guarantee of future results.

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India’s forex reserves up by $1.99 bn to $419.99 bn – Moneycontrol.com

India’s forex reserves increased by $1994 billion to $419992 billion for the week ended May 24 on swelling up of the core currency assets, the Reserve Bank said May 31

The overall reserves had declined by $2.

05 billion to $417.

99 billion in the previous reporting week The reserves had touched an all-time high of $426 billion in April 2018
In the reporting week, foreign currency assets, which are a major component of the overall reserves increased $1991 billion to $392188 billion, the apex bank said
Close

Expressed in dollar terms, foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and the yen held in the reserves

Gold reserves remained unchanged at $23021 billion, according to the data
The special drawing rights with the International Monetary Fund increased $08 million to $1445 billion
The country‘s reserve position with the fund also increased $2 million to $3336 billion

The Ins and Outs of Forex Scalping

The Bottom Line
In the investment world, scalping is a term used to denote the “skimming” of small profits on a regular basis, by going in and out of positions several times per day
Scalping in the forex market involves trading currencies based on a set of real-time analysis The purpose of scalping is to make a profit by buying or selling currencies and holding the position for a very short time and closing it for a small profit Many trades are placed throughout the trading day using a system that is usually based on a set of signals derived from technical analysis charting tools The charting is made up of a multitude of signals, that create a buy or sell decision when they point in the same direction
A forex scalper looks for a large number of trades for a small profit each time Scalping Charts and Pips
Scalping is not unlike day trading in which a trader will open a position and then close it again during the current trading session , never carrying a position into another trading period or holding a position overnight However, while a day trader may look to take a position once or twice, or even a few times a day, scalping is much more frenetic and will trade multiple times during a session
Whereas a day trader may trade off five- and 30-minute charts, scalpers often trade off of tick charts and one-minute charts In particular, some scalpers like to try to catch the high-velocity moves that happen around the time of the release of economic data and news Such news includes the announcement of the employment statistics or GDP figures—whatever is high on the trader’s economic agenda
Scalpers like to try and scalp between five and 10 pips from each trade they make and to repeat this process over and over throughout the day Pip is short for “percentage in point” and is the smallest exchange price movement a currency pair can take Using high leverage and making trades with just a few pips profit at a time can add up Scalpers get the best results if their trades are profitable and can be repeated many times over the course of the day
Remember, with one standard lot , the average value of a pip is about $10 So, for every five pips of profit made, the trader can make $50 at a time

Ten times a day, this would equal $500.

Scalping Personality
Scalping, though, is not for everybody.

You have to have the temperament for this risky process Scalpers need to love sitting in front of their computers for the entire session, and they need to enjoy the intense concentration that it takes You cannot take your eye off the ball when you are trying to scalp a small move, such as five pips at a time
Even if you think you have the temperament to sit in front of the computer all day—or all night if you are an insomniac—you must be the kind of person who can react very quickly without analyzing your every move There is no time to think Being able to “pull the trigger” is a necessary key quality for a scalper This is especially true in order to cut a position if it should move against you by even two or three pips Market-Making vs Scalping
Scalping is somewhat similar to market-making

When a market maker buys a position they are immediately seeking to offset that position and capture the spread .

This form of market-making is not referring to those bank traders who take proprietary positions for the bank
The difference between a market maker and a scalper, though, is very important to understand A market maker earns the spread, while a scalper pays the spread So when a scalper buys on the ask and sells on the bid , they have to wait for the market to move enough to cover the spread they have just paid In the converse, the market maker sells on the ask and buys on the bid, thus immediately gaining a pip or two as profit for making the market
Although they are both seeking to be in and out of positions very quickly and very often, the risk of a market maker compared with a scalper, is much lower Market makers love scalpers because they trade often and they pay the spread, which means that the more the scalper trades, the more the market maker will earn the one or two pips from the spread
(Find out how this tool magnifies both gains and losses Check out ” Forex Leverage: A Double-Edged Sword “) How to Set up for Scalping
Setting up to be a scalper requires that you have very good, reliable access to the market makers with a platform that allows for very fast buying or selling Usually, the platform will have a buy button and a sell button for each of the currency pairs so that all the trader has to do is hit the appropriate button to either enter or exit a position In liquid markets , the execution can take place in a fraction of a second Picking a Broker
Remember that the forex market is an international market and is largely unregulated, although efforts are being made by governments and the industry to introduce legislation that would regulate over-the-counter (OTC) forex trading to a certain degree
As a trader, it is up to you to research and understand the broker agreement and just what your responsibilities would be and just what responsibilities the broker has You must pay attention to how much margin is required and what the broker will do if positions go against you, which might even mean an automatic liquidation of your account if you are too highly leveraged Ask questions to the broker’s representative and make sure you hold onto the agreement documents Read the small print

The Broker’s Platform
As a scalper, you must become very familiar with the trading platform that your broker is offering.

Different brokers may offer different platforms, therefore you should always open a practice account and practice with the platform until you are completely comfortable using it Since you intend to scalp the markets, there is absolutely no room for error in using your platform
If you press the “Sell” button by mistake, when you meant to hit the buy button, you could either get lucky if the market immediately goes south so that you profit from your mistake, but if you are not so lucky you will have just entered a position opposite to what you intended Mistakes like these can be very costly Platform mistakes and carelessness can and will cause losses Practice using the platform before you commit real money to the trade
(Learn more about how to set each type of stop and limit when trading currencies in ” How to Place Orders With a Forex Broker “) Liquidity
As a scalper, you only want to trade the most liquid markets These markets are usually in the major currency pairs, such as EUR/USD or USD/JPY Also, depending on the currency pair, certain sessions may be much more liquid than others Even though the forex markets are trading for 24 hours a day, the volume is not the same at all times of the day
Usually, when London opens at around 3 AM EST, volume picks up as London is the major trading center for forex trading At 8 AM EST, New York opens and adds to the volume being traded Thus, when two of the major forex centers are trading, this is usually the best time for liquidity The Sydney and Tokyo markets are the other major volume drivers Guaranteed Executions
Scalpers need to be sure that their trades will be executed at the levels they intend Therefore, be sure to understand the trading terms of your broker Some brokers might limit their execution guarantees to times when the markets are not moving fast Others may not provide any form of execution guarantee at all
Placing an order at a certain level and having it executed a few pips away from where you intended, is called ” slippage ” As a scalper you cannot afford slippage in addition to the spread, so you must make sure your order can and will be executed at the order level you request Redundancy
Redundancy is the practice of insuring yourself against catastrophe By redundancy in trading jargon, I mean having the ability to enter and exit trades in more than one way Be sure your internet connection is as fast as possible Know what you will do if the internet goes down Do you have a phone number direct to a dealing desk and how fast can you get through and identify yourself? All these factors become really important when you are in a position and need to get out quickly or make a change Choosing a Charting Time Frame
In order to execute trades over and over again, you will need to have a system which you can follow almost automatically Since scalping doesn’t give you time for an in-depth analysis, you must have a system that you can use repeatedly with a fair level of confidence As a scalper, you will need very short-term charts, such as tick charts, or one- or two-minute charts and perhaps a five-minute chart Preparing to Scalp 1 Get a Sense of Direction
It is always helpful to trade with the trend, at least if you are a beginner scalper To discover the trend, set up a weekly and a daily time chart and insert trend lines , Fibonacci levels, and moving averages These are your “lines in the sand,” so to speak, and will represent support and resistance areas If your charts show the trend to be in an upward bias (the prices are sloping from the bottom left of your chart to the top right), then you will want to buy at all the support levels should they be reached
On the other hand, if the prices are sloping from the top left down to the bottom right of your chart, then look to sell each time the price gets to a resistance level

Depending on the frequency of your trades, different types of charts and moving averages can be utilized to help you determine direction.

Figure 1: EUR/USD Daily Chart
Source: Wordon Brothers
Figure 2: EUR/USD Weekly Chart
Source: Wordon Brothers
In the example above, the weekly chart shows a strong upward bias of the EUR/USD The price could be heading back to a target of 14280, the previous high on November 4, 2010
The daily chart shows the price has reached the 1276 Fibonacci extensions , at about 13975 Clearly, there is a possibility of a pullback to the trend line somewhere in the vicinity of 13850 As a scalper, you can take the short side of this trade as soon as your shorter term charts confirm an entry signal 2 Prepare Your Trading Charts
A forex scalping system can be either manual, where the trader looks for signals and interprets whether to buy or sell; or automated, where the trader “teaches” the software what signals to look for and how to interpret them The timely nature of technical analysis makes real-time charts the tool of choice for forex scalpers

Set up a 10-minute and a one-minute chart.

Use the 10-minute chart to get a sense of where the market is trading currently, and use the one-minute chart to actually enter and exit your trades Be sure to set up your platform so that you can toggle between the time frames Trading System
In the system shown here, and there are many other systems you can use to trade profitably, we’ve included a three-period RSI with the plot guides set to 90% and 10% Only trades on the short side once the RSI crosses over the 90% plot guide, and the long side once the RSI reaches below the 10% plot guide, are entered To nuance the signal, it’s best to wait for the 2nd crossing into either of the two zones (only take the trade if the RSI goes into the zone – either the 10% for longs or 90% for shorts – on the second consecutive attempt
Figure 3
Now, before you follow the above system, test it using a practice account and keep a record of all the winning trades you make and of all your losing trades Most often it is the way that you manage your trades that will make you a profitable trader, rather than mechanically relying on the system itself
In other words, stop your losses quickly and take your profits when you have your seven to 10 pips This is a scalping method and is not intended to hold positions through pullbacks If you find that you can manage the system, and you have the ability to pull the trigger quickly, you may be able to repeat the process many times over in one trading session and earn a decent return
Remember that too much analysis will cause paralysis Therefore, practice the methodology until it is automatic for you, and even boring because it becomes so repetitive You are in the business of scalping to make a profit, not to boost your adrenalin or feel like you are playing in a casino

Professional traders are not gamblers; they are speculators who know how to calculate the risk, wait for the odds to be in their favor and manage their emotions.

When to Scalp and When Not To
Remember, scalping is high-speed trading and therefore requires lots of liquidity to ensure quick execution of trades Only trade the major currencies where the liquidity is highest, and only when the volume is very high, such as when both London and New York are trading The unique aspect of trading forex is that individual investors can compete with large hedge funds and banks—they just need to set up the right account
(For more, check out ” Forex Basics: Setting up an Account “)
Do not scalp if you do not feel focused for whatever reason Late nights, flu symptoms and so on, will often take you off your game Stop trading if you have a string of losses and give yourself time to regroup Do not try to get revenge on the market Scalping can be fun and challenging, but it can also be stressful and tiring You must be sure that you have the personality to indulge in high-speed trading You will learn a lot from scalping, and then by slowing down you may find that you can even become a day trader or a swing trader because of the confidence and practice you may get from scalping Remember though, scalping is not for everyone
Always keep a log of your trades Use screen capture to record your trades and then print them out for your journal It will teach you a great deal about trading and even more about yourself as a trader The Bottom Line
The forex market is large and liquid; it is thought that technical analysis is a viable strategy for trading in this market It can also be assumed that scalping might be a viable strategy for the retail forex trader It is important to note, however, that the forex scalper usually requires a larger deposit , to be able to handle the amount leverage he or she must take on to make the short and small trades worthwhile
Scalping is very fast-paced If you like the action and like to focus on one- or two-minute charts, then scalping may be for you If you have the temperament to react quickly and have no compunction in taking very quick losses, not more than two or three pips, then scalping may be for you

But if you like to analyze and think through each decision you make, perhaps you are not suited to scalp trading.

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RBI announces forex platform for retail participants – Moneycontrol.com

The Reserve Bank of India (RBI) on June 6 announced the roll out of a foreign exchange trading platform for retail participants
The circular on operational guidelines for the platform shall be issued by June-end, it added
The central bank said that the platform had been developed by the Clearing Corporation of India (CCIL) and was being tested by users The platform will be available to users for transactions from early August, RBI said

The platform aims to provide transparency of pricing and promote competition among market-makers leading to better pricing for all customers, regardless of order size, by unifying the existing fragmented market microstructure

The business/rbi-proposes-forex-platform-for-retail-participants-2411741

html” target=”_blank” rel=nofollow>RBI had in October 2017 issued a discussion paper proposing to set up such a platform that would provide customers access to an electronic trading platform through an internet-based application on which they could sell or purchase foreign currency at market clearing prices.

This was done with a view to creating market infrastructure that would “ensure fair and transparent pricing for users of foreign exchange (such as Small and Medium Enterprise (SME) exporters and importers, individuals, etc)”

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Pakistan Orders Action Against Forex Firms As Currency Slides to Record Low

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The fall in the currency has been ongoing since last Sunday’s agreement with the International Monetary Fund (IMF), in which Pakistan secured a $6 billion bailout loan
New Delhi (Sputnik): Pakistani Prime Minister Imran Khan has ordered action against dealers and companies selling American dollars at a higher rate, something which has been fuelling the domestic currency’s slide to a record-low level

The US dollar touched an all-time high of around Rs.

148 in the interbank market
The prime minister has also set up a committee to control the devaluation of the domestic currency and capital flight from Pakistan
The committee, headed by Hafeez Sheikh, the financial adviser to the Pakistani prime minister, will decide whether the provision of carrying $10,000 by anyone travelling abroad from Pakistan can be slashed down to $3,000
The slide in the value of the domestic currency started after the IMF spoke of a “market determined exchange rate” in its statement on the programme on 12 May
“A market-determined exchange rate will help the functioning of the financial sector and contribute to a better resource allocation in the economy The authorities are committed to strengthening the State Bank of Pakistan’s operational independence and mandate”, the IMF said
Most of the currency dealers and experts in Pakistan have already expressed disappointment over the undisclosed conditions agreed between the IMF authorities and the Imran Khan government The slide in domestic currency will put massive pressure on inflation — reeling at around 9 percent
“Until the foreign exchange reserves situation improves, there is no chance of the dollar coming down”, Malik Bostan, president of the Forex Association of Pakistan, told Geo News, adding that the rupee is expected to depreciate a further 15 to 20 percent against the dollar by this December
One in three Pakistanis believes inflation is the most pressing issue facing the country at the moment, according to a survey carried out by Gallup & Gilani Pakistan
According to official figures released recently, Pakistan’s economy registered a dismal 33 percent growth in 2018-19, achieving just over 50 percent of its projected target of 62 percent, while the inflation rate has been hovering at over 8% for the past few months

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EU regulators fine five banks for forex rigging

Barclays, Citigroup and JP Morgan among banks fined $12 billion for forex rigging Published Thu, May 16 2019 5:54 AM EDT Updated Thu, May 16 2019 7:37 AM EDT Spriha Srivastava @spriha Key Points Barclays, Citigroup, JP Morgan, MUFG and Royal Bank of Scotland have been fined a total of 107 billion euros ($12 billion) by EU antitrust regulators for rigging the spot foreign exchange market for 11 currencies Swiss bank UBS was exempted from a 285 million euro fine since it alerted the existence of two cartels to the European Commission

A similar case with the U.

S regulators is ongoing where Barclays, BNP Paribas, Citigroup, JP Morgan, Royal Bank of Scotland and UBS have entered related guilty pleas, and been collectively fined more than $28 billion Citi and HSBC banks dominate the skyline of Canary Wharf, London
Barclays , Citigroup , JP Morgan , MUFG and Royal Bank of Scotland have been fined a total of 107 billion euros ($1

2 billion) by EU antitrust regulators for rigging the spot foreign exchange market for 11 currencies.

Swiss bank UBS was exempted from a 285 million euro fine since it alerted the existence of two cartels to the European Commission The financial industry has been hit with billion euro fines worldwide in the last decade for rigging key benchmarks
“Companies and people depend on banks to exchange money to carry out transactions in foreign countries Foreign exchange spot trading activities are one of the largest markets in the world, worth billions of euros every day,” EU Commissioner Margrethe Vestager said in a press release Thursday
“Today we have fined Barclays, The Royal Bank of Scotland, Citigroup, JP Morgan and MUFG Bank and these cartel decisions send a clear message that the Commission will not tolerate collusive behavior in any sector of the financial markets The behavior of these banks undermined the integrity of the sector at the expense of the European economy and consumers,” Vestager added
The EU investigation that has been ongoing for the past six years revealed that some individual traders from various banks in charge of forex trading — a form of trading executed on an intra-day basis — exchanged sensitive information and trading plans through various online professional chat rooms
“The information exchanges enabled them to make informed market decisions on whether to sell or buy the currencies they had in their portfolios and when,” the Commission said in its report
It further stated that most of the traders knew each other on personal basis and logged into multilateral chatrooms on Bloomberg terminals for the whole day, engaging in extensive conversations about a variety of subject, including updates on their trading activities
Barclays declined to comment when contacted by CNBC Meanwhile, a spokesperson from RBS told CNBC the bank is happy to reach a settlement with the regulators
“Today’s fine is a further reminder of how badly the bank lost its way in the past and we absolutely condemn the behaviour of those responsible This kind of behaviour has no place at the bank we are today; our culture and controls have changed fundamentally during the past ten years,” the spokesperson said
A similar case with the US regulators is ongoing where Barclays, BNP Paribas, Citigroup, JP Morgan, Royal Bank of Scotland and UBS have entered related guilty pleas, and been collectively fined more than $28 billion

U.

S regulators said the foreign exchange rate rigging was allegedly done through chat rooms with such names as “The Cartel,””The Mafia” and “The Bandits’ Club,” through tactics with such names as “front running,””banging the close,””painting the screen” and “taking out the filth”
Shares of Barclays and RBS were trading lower, but UBS edged a bit higher on the news Meanwhile, JP Morgan and Citigroup shares were down slightly in pre-market trading
—Reuters contributed to this report Related Tags

The Forex Scalper Mentorship Package (Part 1 & 2 & 3)

Allsoftmaccom » Tutorial » The Forex Scalper Mentorship Package (Part 1 & 2 & 3) The Forex Scalper Mentorship Package (Part 1 & 2 & 3) Author: Bo0mB0om on Today, 09:51 , Views: 0 The Forex Scalper Mentorship Package (Part 1 & 2 & 3) WEBRip | English | MP4 + PDF Guides | 1920 x 1080 | AVC ~5000 Kbps | 29970 fpsAAC | 118 Kbps | 480 KHz | 2519 GB Genre: eLearning Video / Trading, ForexThe Forex Scalper Mentorship have been designed to guide either beginner as well as more advanced traders Our material and strategy can be applied on any financial instrument You will find the highest accuracy on Forex Pairs I currently offer the most detailed Forex Course around And you’ll get access to our online drive with educational video’s , analysis, multiply books and weekly updates I strive to turn any individual into a profitable Forex scalper

MentorshipThe Online Course is designed by me, i have 10 years of experience in the forex market,to teach you how to learn to trade the forex markets consistently.

Suitable for all trading styles based on price action

About The Forex ScalperThe Forex Scalper is a professional day trader with more than 10 years of experience in trading forex.

Forex is my work but also my passion I provide the forex bootcamp and MentorshipDaily I analyse the market to look for good oppertunities & setups to share with my group on whatsappI also provide a live help desk on whatsapp, you can ask me and the group everything about trading and we give you advice about trading trades, brokers, positions, risk management etcI’m there for my clients Every trade have to be a winning trade Screenshots

Forex Strategies For You

Forex Strategies For You Posted by kake , at 05:18 Click here to get the 10 best forex strategies sent to you, starting now! #1: the bladerunner trade the bladerunner is an exceptionally good ema crossover strategy, suitable across all timeframes and currency pairs it is a trending strategy that tries to pick breakouts from a continuation and trade the retests

Simple trading strategies bollinger band squeeze forex trading strategy-an explosive forex system the bollinger band forex trading strategy with the stochastics indicator can keep you on the right side of the market.

This article will look at forex trading for beginners, and will introduce some simple forex trading strategiesin particular, this article will guide you through three key forex trading strategies that beginners can use, namely, the breakout strategy, the moving average crossover strategy, and the carry trade strategy

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Daily forex strategy with average true range (atr) 200 pips daily chart forex trading strategy with 3 emas Double top chart forex trading strategy These strategies may also serve you well as a part-time forex trader: take fewer positions and hold for days it is critical that you understand the drivers of your currency pairs and have taken Have you ever felt stuck trying to figure which forex trading strategies you should use? for example: should you be a day trader, swing trader, position trader, news trader, scalper, or a combination of different forex trading strategies? There are numerous ways for you to conquer the forex market first, you should learn about the different forex trading strategies and decide which one will work best for you the foreign exchange or forex market has proven itself to be the biggest market in the financial industry

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Trade with Software for any of your Binary Option Platforms Worldwide!💥94% Winning Rate💥
💵Get Unlim Profit with📍Pro Signal Robot📍Buy software
✅Open software
✅Select asset (EUR/USD or others)
✅Select trading time (1 Minute or more)
✅Enter profit percentage of your asset (eg: 90%)
✅Click ‘More Signal’ button
📌THEN SOFTWARE SHOW YOU FUTURE RESULT OF YOUR TRADING CALL OR PUT
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Examples of simple forex trading systems that work!
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Best forex system 2018 that works😍- agimat trading review
In our agimat trading system review our proven results are included in the video and we’ve tested it thoroughly over the past 8 weeks – that’s why we rate this the best forex system 2018
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Easy forex system

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