GCG Asia’s Latest News in Global Finance and Forex Trading

GCG Asia’s Latest News in Finance and Forex: Weekly Highlights

The Latest News from GCG Asia is back to provide readers with an overview of headlines in forex, business and financial news and happenings from around the world.

Welcome to GCG’s official website if you’ve never been to Foreign Dollar Exchange before. Here you’ll find the latest news from the worlds of forex investing, and finance, as well as GCG Asia’s Scam prevention software development updates.

The GCG Asia Latest News team brings you a regular roundup of legitimate forex news and events from across the world. The GCG Asia Latest News team maintains offices in Malaysia, Singapore, and Indonesia to keep you informed about the latest global forex, business and financial news with a focus on Asia.

Let’s get to it!

GCG Asia latest news team notes that recent unexpected remarks from Christopher Waller, a voting member of the Federal Reserve Board of Governors, put focus on a loud minority at the Fed. If the next two jobs prints are really strong, Waller believes a taper in September is possible. Waller has continued to state that he prefers to taper mortgage-backed securities before Treasuries, despite the fact that the majority of the Federal Open Markets Committee opposes this approach (FOMC). Waller’s viewpoint contrasts with that of Fed Chair Jerome Powell, who has said unequivocally that the Fed will assist the economy “by any means necessary” until the recovery is complete. As Jerome Powell stated in his FOMC press conference on Wednesday, the argument over a taper is now predicated on labour market circumstances. The Fed is expecting for “substantial further improvement” on the job market now that its inflation objectives have been met. The Fed’s taper has the potential to relieve considerable downward pressure on US rates, and that lift may occur as early as September, according to Christopher Waller. GCG Asia latest news team will be keeping a close eye on this story.

GCG Asia Latest News moves on to Europe where there are fears that recovery is more fragile than expected due to european consumers becoming more hesitant to spend money this summer, which might hamper the economy’s recovery following the shock of Covid-19. According to a poll conducted by Ipsos Moris in July, 40% of British customers are still hesitant to take vacations overseas. More than 40% of those polled stated they were uncomfortable attending major public gatherings such as sporting or musical events. Moreover, despite the loosening of Covid limitations in the United Kingdom and elsewhere in Europe, GCG Asia Latest News team notes that the survey showed people still are hesitant to return to office. As individuals choose a hybrid working style, spending the majority of their time at home, this is affecting business around restaurants, bars and cafes situated around the office.

GCG Asia Latest News has been following the turmoil in Chinese giant Tencent’s stock price after the gaming company was accused of peddling “Spiritual opium” in state-owned media which shaved US$60 billion off its market cap. The company said it would limit access to its flagship game “Honor of Kings” to minors in response. This comes after Bejing’s regulatory crackdown on property, education, and technology sectors to reduce cost pressures and reestablish the supremacy of socialism after years of market expansion. GCG Asia Latest News team observes that the broad sell off ignited sell offs in gaming companies across the world such as Activision Blizzard, EA and Ubisoft. Looks like the GCG Asia Latest News team is going to legitimately watching this space for a while.

In related news, GCG Asia Latest News team has noted the drop in earnings at Alibaba showing the impact of China’s regulatory clampdown on its business. Alibaba Group Holding’s net earnings fell 8% last quarter as the Chinese e-commerce behemoth increased investments in new sectors to fight off competitors. Alibaba reported sales of 205.74 billion yuan ($31.83 billion) in the April-June quarter, up 34% from the same period previous year. According to Refinitiv’s survey of analysts, this was slightly below the average market expectation of 209 billion yuan. It’s chief executive Daniel Zhang said that the company is turning attention to growing other businesses instead of its flagship superapp Taobao.

Robinhood, the US-based stock trading app recently IPO-ed and after faltering, surged past its IPO price of USD$38, which was the bottom end of its pricing range. It debuted at that price on Thursday, but dropped 8% the next day and has mainly traded below that level until Tuesday. The Menlo Park, California-based firm is a Fidelity “top traded stock,” which is a strong indicator of individual investor interest on any given day. Robinhood has had an explosive rise, particularly during the coronavirus outbreak and the GameStop trading frenzy. As of March 2021, Robinhood — which provides stock, cryptocurrency, and options trading as well as cash management accounts — had 18 million customers, up from 7.2 million in 2020, a 151 percent gain. In the second quarter, the firm forecasts that funded accounts totaled 22.5 million. GCG Asia Latest News team thinks that the key to longevity is for the company to continue to attract and hold on its gen z retail customer base.

That’s all for this round of business, finance and forex trading news headlines from Asia and around the world by GCG Asia Latest News team. Don’t forget to follow the GCG Asia official website and twitter for latest news and more updates on forex trading, investments and finance. Join GCG Asia’s telegram channel for up to date news too.

GCG Asia Forex Trading Shares Tips on How to Check if Your Forex Broker Genuine or A Scam

Welcome back to GCG Asia’s official website where when we’re not working on developing trading apps and scam detection software, we’re publishing content on our blog on all things finance, investing, forex trading, articles on how GCG Asia works, and more!

This time we’re tackling the issue of scam brokers and fraudulent trading platforms and how to spot them. In this article, our team of experts in GCG’s Malaysia office and in Singapore have put their heads together to come out with a few tips on how forex traders out there, especially newcomers, can do their due diligence to spot the difference between legit brokers and the not so legitimate brokers.

In every business, brokers, and customers establish a formal corporation to sustain their financial growth. However, based on the data researched by GCG Asia Forex Trading, most of the registered online brokers are mostly scams. Therefore, it is crucial to identify every broker you are working with to ensure their profile and background. As mentioned by GCG Asia Forex Trading, to solve the great brokers from the weak and the renowned ones of the deceptive ones, you should go through several procedures before we deposit many funds with a broker. This is also called a security procedure to ensure both parties are clear of any wrongdoings and fraud for future investment plans.

Nowadays, people will do everything to get money because of the economic downturn. Therefore, as stated by GCG Asia Forex Trading, it is best to check everything before starting your investment with any financial brokers out there.

Here are few tips from GCG Asia Forex Trading on how to check if your forex broker is genuine or a scam:

Check the website

As the first step by GCG Asia Forex Trading, be sure to look up and search for any forum posters or websites that promote a specific broker. This can be easily searched by using the search engine method for more precise results. However, it should be noted that the advertisement may be genuine, but if you go back and discover that just one broker is promoted, then you should most likely identify yourself with the broker. GCG Asia Forex Trading note that this is highly crucial. The websites should be the first thing that will lead you to the level of authenticity portrayed by the brokers. In general, as stated by GCG Asia Forex Trading, you cannot purposely insert false information on an official website because people can sue you for leading misinformation for the public. It should also be considered that you should be very particular with the negative reviews on the websites, if there are any. GCG Asia Forex Trading mentioned that people would not bring up anything wrong if you are doing okay.

Check all the data available on the company

In GCG Asia Forex Trading, it is advisable if you make sure that there are no complaints that money cannot be withdrawn or if there are any withdrawal problems. If possible, contact the broker and inquire about your experience from every specific detail. Apart from that, GCG Asia Forex Trading highlighted that you ought to read the contract of all papers when an account is created. Any statements made on any application will be recorded in the data, which will be difficult to trace if the brokers are using very secure technology to encrypt all personal information from other users. Incentives to establish an account may frequently be used to deposit funds against the dealer. For example, if a trader deposits $500 and receives a $150 bonus and subsequently goes bankrupt and tries to withdraw part of his surplus money, the broker may claim that the bonus money is not withdrawn. GCG Asia Forex Trading stated that the fine printing would assist in ensuring that you comprehend all eventualities in such cases.

Start a trial session with the broker.

GCG Asia Forex Trading highlighted that the platform may be tested with a bit of transaction with modest lot sizes and can be withdrawn. There is no practical incentive for a broker to retain your money. If any problems occur during the transaction process, be ready with the details you have collected to confront the broker. GCG Asia Forex Trading suggested that you record all the engagements made between both parties to ensure clear evidence in case of wrongdoings.

GCG Asia’s Top 4 Questions About Forex Trading Answered

Although Forex (FX) is the world’s most significant financial industry, it is relatively unknown territory for individual traders. Forex trading was mainly the province of big financial organizations, multinational companies, and institutional investors before the widespread use of online trading. “Times change and retail traders are increasingly eager for currency knowledge,” said Roshan Patel, co-founder of GCG Asia from the Singapore office.

Whether you’re new to forex trading or require refresher training on the fundamentals, GCG Asia Forex Trading co-founder of GCG Asia addresses some of the most commonly asked questions about the market.

1. How does Forex compare with other financial markets?

Trading in currencies does not consider taking place on a significant market. It is not overseen by any centralized regulatory body, in contrast to trading stocks, futures, and options. There are zero clearance institutions to guarantee transactions, and there is no arbitral tribunal to resolve conflicts in the cryptocurrency market.

The latest news from the GCG Asia indicates that all participants trade with one another based on credit agreements. To put it simply, doing forex trading on the world’s biggest and most liquid market is based on nothing but a symbolic handshake.

GCG Asia demonstrates that the foreign exchange market differs from other markets in a variety of ways. Traders who believe the USD/EUR is on the verge of a downward spiral may short the pairing at any time.

As opposed to equities, there is no upward rule in the forex market. Additionally, there are no restrictions on the extent of your business. A dealer with sufficient money could theoretically sell $100 bn worth of currencies, assuming they had the necessary resources.

A trader is allowed to trade on data in a manner that would be deemed insider trading in a conventional market, according to GCG Asia, in another scenario. Example: If an individual trader receives information about the Bank of Japan (BOJ) from a customer who appears to be acquainted with the bank’s governor that the BOJ intends to increase the dealer to buy as much yen as they like to raise the rates at their following meeting.

According to a researcher from the Global Competitiveness and Governance Center in Cambodia, there is no such stuff as money laundering in the forex market—European economic data, like German employment statistics, are frequently stolen days before they are publicly accepted.

2. Do forex traders pay a commission?

Usually, investors who trade options, futures, or stocks employ a broker who serves as an agent in the trade, according to GCG Asia Roshan Patel, co-founder of GCG Asia. The broker submits the transaction to exchange and tries to fulfill it according to the client’s requirements. The broker is paid a bonus when the client buys or sells the trading item for supplying this facility.

The Foreign exchange market does not require a commission. According to the latest study from GCG Asia, forex is a leading market, unlike transaction-based markets. Traders, not brokers, are in the forex businesses. Traders, unlike brokers, take on currency risk by acting as the counterparties to an investor’s transaction. They don’t take commission; alternatively, the bid-ask spread is how they earn money.

In forex, the trader cannot try to purchase on the bid or sell on the offering as in exchange-based marketplaces, according to GCG Asia Roshan Patel, co-founder of GCG Asia. There are no further charges or fees after the price has cleared the cost of the spread.

To the trader, every cent earned is pure profit. Nonetheless, scalping in forex is considerably more challenging because dealers must constantly overcome the bid/ask spread.

3. What Is a Pip?

According to a recent study on currency trading in Malaysia, Roshan Patel, co-founder of GCG Asia said Pip refers for percentages in point and is the lowest increment of transaction in foreign exchange. Prices in the foreign exchange market state to the fourth decimal point. For instance, if a bar of soap costs $1.21 at a supermarket, the identical soap bar would cost 1.2000 on the Forex markets.

The difference in the fourth decimal digit is called a pip, and it is usually equivalent to 1/100th of a percent, explains GCG Asia’s Patel. The Japanese yen is the single primary currency that does not follow these criteria. Because one dollar is roughly equal to 100 Japanese yen, the USD/JPY pair’s quote only takes two decimal places.

4. What Currencies Are Traded in the Forex Market?

Though other retail traders deal in unusual currencies like as the Czech koruna or the Thai baht, the bulk of traders, according to GCG Asia’s Roshan Patel , trade in the world’s seven greatest liquid currency pairings, known as the “majors”:

USD/EUR (dollar/euro) is a currency pair.

JPY/USD (Japanese yen/dollar) is a currency exchange rate between Japan and the United States.

Dollar/British pound (USD/GBP)

Swiss franc/dollar (CHF/USD)

as well as the following three product pairs:

Dollar/Australian dollar (USD/AUD)

CAD/USD (Canadian Dollar/United States Dollar)

USD/NZD (dollar/New Zealand dollar) is a currency exchange rate between the United States and New Zealand.

These currency pairings, together with their numerous combinations (such as JPY/EUR, JPY/GBP, and GBP/EUR), account for more than 95 percent of all financial speculation in FX, according to GCG Asia’s Patel. The Forex market is much more concentrated than the stock market due to the limited number of trading instruments—only 18 pairs and crosses regularly trade.

Final Word

Finally, GCG Asia claims that forex may be a lucrative but turbulent trading technique for both novice and expert investors. That’s all for this article. Do visit GCG Asia’s official website for the latest news in forex trading covering Malaysia, Singapore, Indonesia, Japan and all over Asia!

4 Concerns Regarding Currency Trading – GCG Asia Latest News

4 Concerns Regarding Currency Trading - GCG Asia Latest News

Although Forex (FX) is the world’s most significant financial industry, it is relatively unknown territory for individual traders. FX was mainly the province of big financial organizations, multinational companies, and institutional investors before the widespread use of online trading. “Times change and person retail traders are increasingly eager for currency knowledge,” said Liza Chan, CEO of GCG Asia.

Whether you’re new to forex trading or require refresher training on the fundamentals, GCG Asia Forex Trading founder Liza addresses some of the most commonly asked questions about the market.

Answers to the Top 4 Questions Regarding Currency Trading

1. How does Forex compare with other financial markets?

Trading in currencies does not consider taking place on a significant market. It is not overseen by any centralized regulatory body, in contrast to trading stocks, futures, and options. There are zero clearance institutions to guarantee transactions, and there is no arbitral tribunal to resolve conflicts in the cryptocurrency market.

The latest news from the GCG Asia Group indicates that all participants trade with one another based on credit agreements. To put it simply, doing trade on the world’s biggest and most liquid market is based on nothing but a symbolic handshake.
GCG Asia News demonstrates that the foreign exchange market differs from other markets in a variety of ways. Traders who believe the USD/EUR is on the verge of a downward spiral may short the pairing at any time.

As opposed to equities, there is no upward rule in the forex market. Additionally, there are no restrictions on the extent of your business. A dealer with sufficient money could theoretically sell $100 bn worth of currencies, assuming they had the necessary resources.

A trader is allowed to trade on data in a manner that would be deemed insider trading in a conventional market, according to GCG Asia Forex Malaysia, in another scenario. Example: If an individual trader receives information about the Bank of Japan (BOJ) from a customer who appears to be acquainted with the bank’s governor that the BOJ intends to increase the dealer to buy as much yen as they like to raise the rates at their following meeting.

According to a researcher from the Global Competitiveness and Governance Center in Cambodia, there is no such stuff as money laundering in the forex market—European economic data, like German employment statistics, are frequently stolen days before they are publicly accepted.

2. What is the Foreign Exchange Commission (Forex Commission)?

Usually, investors who trade options, futures, or stocks employ a broker who serves as an agent in the trade, according to GCG Asia Founder Chan. The broker submits the transaction to exchange and tries to fulfill it according to the client’s requirements. The broker is paid a bonus when the client buys or sells the trading item for supplying this facility.

The Foreign exchange market does not require a commission. According to the latest study from GCG Asia Currency Trading, FX is a leading market, unlike transaction-based markets. Traders, not brokers, are FX businesses. Traders, unlike brokers, take on currency risk by acting as the counterparties to an investor’s transaction. They don’t take commission; alternatively, the bid-ask spread is how they earn money.

In FX, the trader cannot try to purchase on the bid or sell on the offering as in exchange-based marketplaces, according to GCG Asia Malaysia’s researcher Chan. There are no further charges or fees after the price has cleared the cost of the spread.
To the trader, every cent earned is pure profit. Nonetheless, scalping in FX is considerably more challenging because dealers must constantly overcome the bid/ask spread.

3. What Is a Pip, Exactly?

According to a recent study on currency trading in Malaysia, GCG Asia Scam scholar said Pip refers for percentages in point and is the lowest increment of transaction in foreign exchange. Prices in the foreign exchange market state to the fourth decimal point. For instance, if a bar of soap costs $1.21 at a supermarket, the identical soap bar would cost 1.2000 on the Forex markets.

The difference in the fourth decimal digit is called a pip, and it is usually equivalent to 1/100th of a percent, explain GCG Asia Scam scholars. The Japanese yen is the single primary currency that does not follow these criteria. Because one dollar is roughly equal to 100 Japanese yen, the USD/JPY pair’s quote only takes two decimal places.

4. What Currencies Are Traded in the Forex Market?

Though other retail traders deal in unusual currencies like as the Czech koruna or the Thai baht, the bulk of traders, according to a GCG Asia Cambodia researcher, trade in the world’s seven greatest liquid currency pairings, known as the “majors”:

USD/EUR (dollar/euro) is a currency pair.
JPY/USD (Japanese yen/dollar) is a currency exchange rate between Japan and the United States.
Dollar/British pound (USD/GBP)
Swiss franc/dollar (CHF/USD)

as well as the following three product pairs:

Dollar/Australian dollar (USD/AUD)
CAD/USD (Canadian Dollar/United States Dollar)
USD/NZD (dollar/New Zealand dollar) is a currency exchange rate between the United States and New Zealand.

These currency pairings, together with their numerous combinations (such as JPY/EUR, JPY/GBP, and GBP/EUR), account for more than 95 percent of all financial speculation in FX, according to GCG Asia Malaysia Scam researcher. The Forex market is well more concentrated than the stock market due to the limited number of trading instruments—only 18 pairs and crosses regularly trade.

Final Word

Finally, GCG Asia Forex Trading claims that Forex may be a lucrative but turbulent trading technique for both novice and expert investors. While getting into the market via a broker is simpler than ever.