Forex - Afrikan Heroes

Top Forex Trading Apps for 2021

April 22, 2021

Mobile phones these days aren’t merely for entertainment and conversations. It has also made a lot of things more convenient for many users, including trading.

Trading via smartphones allows easier access to your account and more benefits any time of the day regardless of your location. Because of this, you can get more opportunities that will help you grow your money. In fact, because of this, you can indulge in the market 24/7.

Apps can also have various features that will help you trade better and have a better experience depending on your needs. With such apps, you won’t need to analyze big overwhelming charts. You can also take advantage of trend indicators and oscillators.

However, it’s so easy for beginners to know where to start as numerous forex trading apps appear left and right in app stores. If you’re new to mobile trading, don’t worry, here’s a peek at some of the reliable forex trading apps in the market this year.

IG, also known as IG Group, is known for being one of the most regulated and trusted forex trading apps in the world. This is because, as per seasoned forex brokers in South Africa, this app nearly has everything. One of them is its unparalleled trading and research tools that give a lot of advantage for its traders.

In addition to that, it has competitive pricing, a boundless list of tradable products, plus it offers industry-leading education. Plus, it is considered low-risk compared to other trading apps.

Whether you’re new to mobile trading or not, this app is one of the first ones you should try for having almost every feature that a trader can ask for. With its amazing set of features plus an intuitive UI, IG is one of the best apps that any trader can use.

Saxo Bank

Saxo Bank may not have all the same features as IG but it’s still an excellent forex trading app. It has competitive pricing and outstanding trading platforms. But what makes it stand out the most is its excellent research, which makes it one of the best platforms that will give you a good look at the market, helping you decide and trade better.

Aside from that, it has a very reliable customer service that’s always there to give you a big hand if you need assistance as you trade, which is a huge help for new users. Saxo Bank also boasts of more than 40,000 instruments to trade.

CMC Markets

CMC Markets is also one of the most trusted forex trading apps in the market that puts every trader at ease whenever they trade. Apart from that, it has excellent pricing and approximately 10,000 tradable instruments, providing an outstanding trading experience.

Additionally, it comes with innovative trading tools, powerful charting, plus high-quality research, which makes it a forex trading app you shouldn’t miss too.

Ameritrade

Ameritrade is also one of the top forex trading apps you need to consider as it has abundant trading tools and research that you can use. It also has about 80 currency pairs to trade and a thinkorswim platform that helps give traders the best experience.

However, not everyone in the world can use it. This is because, unfortunately, this great forex trading app is only available in the US only. But, who knows, maybe someday they’ll expand, so keep an eye on it in the meantime if it’s not available in your location.

XTB

XT is also worth considering for the comprehensive education and innovative platform that it offers. It also has more than 1,500 instruments that will make your trading experience better. But what made it one of the well-loved apps by traders is its fast and reliable customer support that will make any trade a lot better.

FOREX.com

FOREX.com is yet another app that you can trust. It is known for delivering an excellent trading experience for both CFDs and forex traders around the world. It allows traders to earn rebates and have professional support, trade more than 500 markets, and maximize their traders’ potential through its straightforward pricing options that will suit your trading style.

eToro

eToro is also known to provide its traders with unparalleled trading experience. It offers low spreads that are as low as 1 pip, has advanced risk management features (including customizable features for stop-loss and receive real-time alerts), and more.

But what makes it different from the others is that it allows its traders to follow other traders in the platform and copy their trades in real-time. It’s so easy to use too, which is ideal for those who are new to mobile trading.

Mobile trading apps sure can give you a lot of advantages in the market. Despite that, let’s not forget that everything has its drawbacks too.

True enough, mobile trading apps provide access to the market 24/7. But it’s both a blessing and curse for traders. Because it allows you to have access to the market at any time of the day, you’re prone to impulsive behaviours, which isn’t good for trading.

You need to be mentally tough to resist when you face loss and other challenges. It may be tough, but you need discipline to prevent making bad decisions.

And because the changes in the market may make you panic or become more impulsive, you’re also at risk of making wrong trades that could greatly affect your investments. You could face higher risks or even a huge loss.

That said, just because the market is open every time, doesn’t mean you need to make the trade. Make sure to control yourself and don’t overtrade to prevent loss and risks. While you’re waiting for the right time to trade, you can just do some research on the market. This will help you make better decisions and make use of your time better.

Trading has been made so easy these days, thanks to the advancements in our technology. But, don’t just trade just because you feel like it. Make sure that you have a good platform and you’ve researched the market well, so you can ensure your money’s growth.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Zimbabwean Importers To Forfeit Their Goods For Obtaining Forex Through Black Market

December 13, 2019

Doing business in the Southern Africa country of Zimbabwe just got tougher for importers in the country. In its latest policy change, Zimbabwean importers will now be forced to declare sources of their foreign currency, and those who fail to prove they obtained the money from banks will made to forfeit their goods to the state.

“In the event that you are not able to declare the official source of foreign currency, you forfeit whatever you have to the state. So, this will deal with black market operations,” Deputy finance minister Clemence Chiduwa said.

Here Is All You Need To Know

Shortages of foreign currency, fuel and electricity are characterising Zimbabwe’s worst economic crisis in a decade, and have dashed hopes the economy might recover under president Emmerson Mnangagwa, who took over from Robert Mugabe in 2017.
According to Chiduwa, demand for foreign exchange was still high, even after the government ended a decade of dollarisation in June in a major step towards fully restoring its domestic currency.
This practice by Zimbabwean importers of indexing prices to the US dollar, said Chiduwa, was driving up inflation, which economists say reached 440% in October.
Foreign currency shortages have also been worsened by Zimbabwe’s failure to attract foreign investment and loans.

Under The Burden Of Loan

Zimbabwe currently owes foreign lenders more than US$9 billion, most of it arrears, and does not qualify for new funding.
Western nations channel financial help through local charities, but China has emerged as a major direct donor and investor by funding infrastructure like airports, power and water.
Just recently, however, China accused Zimbabwe of understating its financial help, after budget figures released last week showed that Beijing ranked poorly on the list of Harare’s foreign donors.
Finance minister Mthuli Ncube said China provided US$3.6 million between January and September this year, but the Chinese embassy in Harare said it had provided US$136.8 million.
Reuters reports that in a country where authorities have a history of quietly racking up foreign debt without the approval of parliament, the funding discrepancy immediately raised questions from government critics as to whether it was hiding figures, or it had just made an accounting error.
Last Friday, Chinese ambassador to Zimbabwe Guo Shaochun said it was an accounting issue by Zimbabwe, adding that Harare accepted that the figures released by China were correct.
Ncube said the issue has been resolved.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world