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Stock Signals: Short Facts for Beginners

Sam Allcock
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Stock Signals: Short Facts for Beginners

Can you start trading stocks if you do not have any experience in that? At first glance, it seems that, to become a trader, you must spend at least a few weeks learning. But, in practice, you can start right away if you make use of signals compiled by professional traders.

What are stock trading signals? These are short instructions on which stocks to buy or sell and at which price. They usually include the name of the stock, the optimal price limit when one should enter a trade, the stop-loss and take-profit prices. In practice, to make a decision concerning a trade, you should analyze a wide variety of aspects like volumes, a support level, a resistance level, moving averages, and others. Obviously, that takes a huge amount of time, especially if you are a beginner. Besides, such analysis requires extensive knowledge and experience. Using stock signals will allow you to earn good money by paying minimum time. That’s a perfect solution for those traders that have a second full-time job. Besides, professional signals will allow you to minimize losses and maximize profits while you are still learning.

Where to get stock signals? The best choice is to subscribe to a professional provider and receive triggers on a regular basis. To choose such a service, search on the Web and check reviews left by other traders. When you find a service with a proper reputation, view what kind of signals they provide and which assets they specialize in. In case there is a free trial period, use it to test the quality of signals. But do not haste risking real money, trade via a demo account at first.

Speaking about exact provider names, try FXTM, Learn2Trade, The Robust Trader, Elliott Wave Forecast, WeTalkTrade. Also, you can subscribe to a provider right on the trading platform such as eToro or MQL5. Insuchacase, searchbyrating.

5 Efficient Tax Attorney Recommendations on How to Save Money on Tax

Sam Allcock
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0
5 Efficient Tax Attorney Recommendations on How to Save Money on Tax

Almost every country in the world levies its citizens to raise revenue for government expenses, amongst other purposes. However, you may not also like to spend a chunk of your hard-earned money on tax, as there may be different needs to meet. 

Thankfully, there are some tips on how to save money on tax which is very efficient. If you’ve ever spoken with a tax attorney, you may have heard of tax advantage accounts. These types of accounts are where you can invest your money to let them grow tax-free.  

In this article, we will find out five efficient tips that a tax attorney will most likely recommend to save money on tax. 

#1. Tax-Advantaged Accounts 

Virtually every tax attorney recommends tax-advantaged accounts as the first solution to saving money on tax. These accounts reduced your tax in two significant ways. Some of them allow you to deposit pre-tax money, which reduces your taxable income for that particular year.  

The rest allow your money to grow tax-free interest, reducing the tax you will have to pay in the future. Some tax advantage accounts include: 

  • Retirement Accounts 
  • Flexible Spending Accounts  
  • Health Savings Accounts 
  • Education Savings Accounts 

Retirement Accounts 

Individual Retirement Accounts (IRAs) 

The money you invest in a Roth IRA is pre-taxed, and you wouldn’t have to pay tax on the interest when you withdraw the money on retirement. There are several types of IRA. 

Traditional IRA offers you tax-free growth on your investment and deducts your contribution from your income which lowers your tax for that year. However, during the withdrawal time, you’ll have to pay income tax based on the current tax rate. Also, you will be taxable on your deposits and interests. SEP IRAs and SIMPLE IRAs are both types of traditional IRAs.23 

401(k) Plans and other Related Accounts 

401(k) Plans and other employer-sponsored accounts allow you to transfer a certain amount from your paycheck into a retirement account.  

Any money you deposit into a 401(k) is entirely tax-free, and each dollar you contribute lowers your total taxable earnings for the year. In a 401(k), you can also benefit from 401(k) matching, where your employer contributes to your retirement account. 

403(b) plans and 457 plans are available to public school employees and particular government and non-profit employees, respectively. They also let your interests go tax-free until withdrawal. 

Flexible Spending Accounts  

Flexible spending accounts (FSAs) is a program that provides some tax advantages while reducing your healthcare expenses. You can enjoy as much as 30% tax savings on your total deposit to an FSA. 

FSA is employer-sponsored so that you can pay for many out-of-pocket medical expenses without being taxed. 

Your contributions are deducted from your paycheck before the assessment of income taxes, reducing your taxable income.  

Health Savings Accounts (HSA) 

HSA is another healthcare program that offers a tax relief benefit. Health Savings Account (HSA) offers savings on a pre-tax basis to pay for specific medical expenses, but you must have high-deductible health plans (HDHPs). 

Your contributions in an HSA are tax-deductible, and you can withdraw money tax-free as long as it’s for eligible medical expenses.  

Education Savings Accounts 

Education costs are significant expenses, so some specific savings accounts help to lower your taxes. 

529 Accounts 

You could only save for K-12 education in this account, but post-secondary education costs are also allowed now. The 529 version offers two avenues for tax benefits. 

Prepaid tuition plans let you pay now for future attendance at certain schools (locking in current tuition rates), and savings plans offer tax-free growth on investment.  

#2. Improve Your Home’s Energy Efficiency 

Using energy-efficient appliances in your home is another way to save money on tax because your utilities are taxed. The residential energy-efficient property credit even encourages homeowners to use energy-efficient equipment by allowing them to claim 30% of the cost of that equipment. 

So, do well to keep the receipts for any efficient home appliance you install from now on. 

#3. Monitor Your Investment Portfolio 

If you have investments in stocks and mutual funds, keep an eye on them. You might save money on tax if you sell off some securities to offset capital gains, which is known as “tax-loss harvesting.” 

But, you will need to consult a professional tax attorney before making this move. It may involve some complicated procedures. 

#4. Buy Your Own Home 

Owning a home is a great way to save money on taxes. As a homeowner, you can itemize mortgage interest and a percentage of your property taxes to decrease your taxable income.  

Alternatively, taking a standard deduction may favor you. A tax attorney can also help you weigh the effect of these tax reduction approaches on your tax plan. 

#5. Take Advantage of Every Available Tax Credit 

Seize every opportunity for a tax credit to save money on tax. If you have a child, you can go for the child tax credit. There is also the working credit. 

However, you must ensure that you qualify for these credits before you go for them. 

Conclusion 

If you are looking to save money on tax, these five tips most likely will be helpful. You can also consult a tax attorney to get professional advice on which avenue best suits you. 

5 Instagram Growth Tactics You Definitely Should Not Overlook In 2021

Sam Allcock
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5 Instagram Growth Tactics You Definitely Should Not Overlook In 2021

For any business or brand, Instagram can be a major part of their marketing strategy. It can be difficult to find the secrets to Instagram growth, but expanding your following on the platform is a key part of making it a valuable aspect of your marketing plan. Let’s take a look at five ways you can optimise your Instagram growth this year.

5 Instagram Growth Tactics For 2021

1.   Use An Organic Instagram Growth Service

Perhaps the best way to attract real, organic followers for Instagram is through engagement marketing. With this strategy, you like a few posts from people you want to have following you. Then, they’ll check out your profile and decide for themselves if they want to follow you or not. The problem is, engagement marketing can take a lot of time and energy, even if you have a dedicated social media manager on your staff.

Instead, you can look for Instagram growth services that are reliable and legitimate.

The best such service is the online activity tracker Snoopreport. With it, you can track likes, hashtags, follows, interests and comments of any users with a public profile. The data is presented in convenient weekly reports, which will allow you to create an engaging content strategy, get valuable insights about the target audience and attract new followers. Maximize your Instagram marketing performance with Snoopreport tracker built for Instagram marketing professionals. Target Influencers and opinion leaders, confirm engagement among certain users, and understand your audience like no one else can.

The primary thing you want to avoid is anyone who wants to sell you a specific number of followers. If they do, they’re going to give you bots and fake accounts as followers. After all, if they can guarantee a certain number of new followers (especially in a short amount of time), are they going to be talking to all of those people and asking them to follow you? Nope. Instead, they have a bank of fake accounts that’ll just like your page, but not give you any real, meaningful engagement.

So, you want to look for a growth service that will take time to help you grow your following with real accounts. It’s always a good idea to look for reviews to see what other customers have said about a particular service before you decide to purchase or subscribe. Reviews are always helpful when making an important business decision.

2.   Use Instagram Ads

This is a classic idea, but it works! Because Instagram is owned by Facebook, they have high-level targeting abilities for their ads. You can target your ads to people based on demographic, interests or other accounts they follow. You also have many options for types of ads you can use. Whether that’s a static photo ad in Stories or in the feed or a video ad, you can choose exactly the type of ad that’ll resonate with your audience.

3.   Micro-Influencers

Influencer marketing is all the rage when it comes to developing a solid business strategy, and for good reason. However, make sure to choose the right strategy for you. That might mean going with micro-influencers instead of the big names. Instagram is home to so many micro-influencers who have built up a following of people who are perfectly in your target audience. You simply need to find them. Don’t stress about the word “micro” – in fact, that can be a good thing. Sometimes macro-influencers have too many followers and they don’t have a real relationship with them. As such, their followers might ignore the ads they post. Instead, micro-influencers know their audience and what their needs and likes are, so they can be a great resource for growing your Instagram presence.

4.   Optimize Your Profile For Search

Many people overlook this strategy, but it’s so important. People are searching on Instagram every single day. If you aren’t using the right keywords in your bio and profile, you’re missing out on valuable chances for the right people to find you. Don’t stuff your profile with keywords, but make sure you’re clearly stating what you do and who you help. This’ll also help you convert anyone who comes to your page through engagement marketing, too.

5.   Brand Collaborations

Similar to micro-influencers, consider working with other brands in your niche. No, you don’t have to work with your competitors, but there’s most likely a complementary brand to yours on Instagram that you could work with for a collaboration. You’ll each get access to the other’s audience, and you can build a great partnership in the process. Whether you want to do giveaways, Instagram Story takeovers, or some other strategy, working with another brand is a great way to help expand your reach on Instagram.

Time To Start Growing

Navigating the world of Instagram growth can be a little tricky and overwhelming, but it’s important to help you establish a strong presence on the app. Whether you choose to implement just one of these suggestions or you want to try all five tactics, you’ll see an increase in your following soon. Remember that consistent, steady growth is the goal so you can really attract and retain the right followers. So what are you waiting for? Start growing your Instagram reach now.

Tips to choose an online broker

ABC Staff
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Tips to choose an online broker

Online trading has become a very common topic of conversation between friends and it’s today very accessible to many that had no idea what was it all about before. There are a few things to learn before getting started and, while easy and available, it must be mentioned that there is always a risk. But, being successful is possible, and it all starts with choosing the right online broker. 

There are plenty of options when it comes to deciding on an online broker, so how do you make sure you are choosing the one that matches you and your trading style?

Let’s start from the beginning. Why is a broker so important? Your online broker is your door into the market, they not only offer access but provide traders with research and educational tools to help them achieve success. Your broker will determine what assets you can invest in, as well as define the fees per transaction and minimal initial deposit, plus they hang to the money you dedicate to investments. Surely, you can start to see why is important to choose the right one.

There are a few considerations for investors when choosing an online broker. Making sure a broker is a good fit for you requires knowing what you want to invest in, as well as what strategies you are interested in. Once traders narrow down the options, a good idea is to check the reviews and opinions of expert sites or reliable users.

What to look for when choosing an online broker?

The following are the most important aspects traders should keep in mind when choosing an online broker. This goes especially for beginners who should make a priority of this process and analyze thoroughly the brokers they are interested in.

While you can start trading online literally in 5 minutes, taking the time to think about what broker is good for you will greatly maximize your chances of being successful.

Safe brokers, safe money

When you register with a broker you have to give quite a bit of your information, including photos of your documents. At the same time, some brokers will require you to deposit some money to get you started. They are guardians of your data and money, so no need to remind you, you want those safe!

To make sure your broker is safe there are a few things traders can check out. First of all, regulations. Is your broker regulated? And by which institution? Regulatory bodies are in charge of making sure the broker act within the national or international standards, protecting the rights of investors and guaranteeing the safety of their money.

Fees and commissions

This is probably the consideration that most traders worry about. And while that is understandable, beginner traders should make sure they are not sacrificing services and features for lower costs. Cheaper doesn’t always mean better. In many cases, discount brokers may have hidden fees or they will offer poor research and educational materials.

In order to understand if a brokers’ costs are something you can afford, you need to be clear on what assets you’ll be trading, as well as the type of investor you are in terms of the volume of your trades.

The platform you want

All online brokers offer an online platform for traders to operate from. There are many different ones, and some brokers offer their own programming. On this platform, traders will find access to the market, their movements, research tools, and charts and graphs that may help them make wiser decisions on how to invest their money.

Since this platform is the headquarters of all your trading activity you obviously want to make sure it’s easy to use, intuitive, and complete.

Can a Finance Broker Get You a Loan?

Sam Allcock
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Can a Finance Broker Get You a Loan?

There are many reasons why you may need to take out a loan. Perhaps you need a new car or new appliances for the home? Or maybe you want to improve your home by adding to it? Loans are readily available from a range of lenders. Your first option will probably be your bank, yes? Hold on a minute, because there are better options. This article explains why you may want to talk to a mortgage broker rather than go directly to the bank so let’s get started.

Why Choose a Finance Broker?

What is a finance broker? Let’s say you go to your bank and request a loan. The bank is happy with your request and offers you the branded loan that they deal with. This is your sole option when you go to a bank or other financial institution. The loan may be a decent offer, but what if you could ‘shop around’ for loans as you do with other products?

That’s the main benefit of the finance broker. He or she does not work for a bank or financial institution. A finance broker knows the market inside and out and has relationships with many lenders. They are trusted by the lenders in the industry and have contacts who keep them updated with the latest loan deals.

Put simply, the finance broker is a middle man between the lenders and the customer. They will assess your situation and talk to the lenders who are most appropriate for your individual case. This way you get the best deal. You can learn more by checking out a reputable finance broker.

What Loans are Available?

As the finance broker will be up to speed with the latest finance news they will be able to offer you a choice of deals. However, we strongly recommend you follow their advice should you be looking for the right deal. The finance broker is an authority on the world of loans and financial transactions and will be able to show you the way towards a great deal.

Be aware the there will be a fee for using the broker’s services. This will be either a set fee or a percentage. However, when you compare the repayment amount to that from a bank’s branded equivalent you will see the difference is quite considerable and easily covers the fee and more. It could be said that the finance broker is there to help you, and the bank to make money for itself!

The Best Loan Deal for Me?

The simple fact is that loan interest rates change all the time, and can be pegged to central bank operations. Your finance broker will be aware of the rates at the time you apply and may be able to find a rate that changes with the base rate. This can be beneficial across the years as your loan may be one that lasts a number of years. A mortgage, for example, could take 25 years to repay.

For smaller domestic loans – especially for home improvements – the repayment period will be less, and the monthly payments determined by the length of the loan and in the interest rate. For the layman this can be complicated to get to grips with, but a finance broker can put together a deal and explain it to you in simple terms.

If you are looking for a loan for whatever reason, remember that the car or appliance you buy will be considered security. Talk to a local finance broker now for the best deals around, and you’ll find them more than happy to help.

Economic Trends Post Pandemic

Sam Allcock
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Economic Trends Post Pandemic

The world wasn’t ready for a pandemic and some of the strongest businesses in the world were forced into bankruptcies. The economic activity came to a standstill across the globe and while things are slowly returning back to normal experts predict that the world won’t be reaching the pre-pandemic levels anytime before 2024.

There isn’t enough data available as it is the first pandemic in a century and the world economic face is totally different from what it was back in 1918 when the world faced the influenza pandemic. Despite the technological development and a much stable health and economic structure, many countries are still facing new variants and waves of the COVID-19 virus and hence economic decline.

The virus has significantly impacted the employment landscape of the world and has forced humans into a very different kind of working environment.

Here are a few deviations and trends that the world economy faces post-pandemic.

Post-Pandemic Economic Trends

There have been very significant changes in the way the global economy functions, and these are impacting the daily lives of everyone. The best A Level Economics Tuition in Singapore will equip you with the necessary knowledge and techniques that you’ll need to keep up with the fast-changing world in the post-pandemic and will keep you up to speed with the rapidly changing economic landscape. This also helps you gain necessary insights that can help you ace your exam with the best grades.

Some of the top post-pandemic economic trends that you need to be aware of include:

Rising Unemployment

The employment levels have gone down globally, and millions of individuals are no longer in employment because of the complex requirements and lack of IT literacy. Although work is shifting back to physical premises, some companies are sticking to remote work even in high-income economies. This is leading to a sharp decline in the aggregate demand worldwide and shrinkage of the global workforce. In the US alone, out of work people reached a total of 8.9% of the total workforce.

High Disregard for Sustainable/Green Projects

The sharp decline in aggregate demand has affected everyone. Be it the oil-driven economies of the Middle East or the manufacturing factories in Chine, all have faced the problems associated with low demand and most businesses have doubled back to conventional manufacturing/production methods. Experts predict that the 2050 vision of a green globe with no non-renewable usage is no longer achievable.

The adaption of electric vehicles has also seen a decline and so has the deployment of solar panels for electricity generation globally.

Experts predict that this can be changed and tackled easily with incentives that will drive up demand and motivate people to take up more sustainable projects to set the global economy back on track.

Rising Fuel Prices

The fuel prices have gone up significantly and are now as much as 3 times more expensive than before the pandemic hit us. Several factors are causing the upward trajectory of the prices and things like the flooding of coal mines in China, ban on Iranian oil, and reopening of the Asian and European economies are all playing a role in driving up the prices. This is because the demand is growing rapidly as economies reopen and supply can’t just keep up. If past experiences are taken into account, the shortage and rising prices won’t be going away any time soon.

Silicon Chip Shortage

The pandemic forced many businesses into closure but still, the demand for new appliances and devices that use micro conductors has refused to falter as smartphone sales have reached an all-time high. Although silicon is abundant, it might take a year or two before the supply again matches the demand.

Takeaways

The economic landscape is changing rapidly across the globe and learning about it is more important than ever before. The trends will definitely reverse in the near future but the global powers need to work closely to ensure smooth sailing into the uncertain post-pandemic future.

Best Forex Brokers UK in 2021

Sam Allcock
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Best Forex Brokers UK in 2021

Forex is today one of the rapidly developing markets, where not only currency transactions (buying and selling) are carried out, but also trading in metals and other currency equivalents. The profit from such operations is the amount of the difference that is formed between the purchase/sale of currency. Most private traders prefer to use brokers to conduct business, acting as intermediaries.

Broker functions

What tasks does it perform:

  • uses reliable financial instruments of activity;
  • lends funds from an account opened by a trader in the same equivalent;
  • analyzes information provided by leading news agencies.

Each transaction made brings the broker interest. Their activities are controlled by official government means. To check the validity of the license of the company represented by the broker, you can go to the website of the authority that issued the permit.

How to Choose a Reliable Forex Broker?

Let’s list the points that a reliable forex broker must match:

  • Authoritative regulation and licensing.
  • Transparent system for depositing and withdrawing money.
  • Segregation of profits in reliable banks.
  • Availability of innovative systems for obtaining liquidity and processing quotes.
  • Stable conditions for trading.
  • Availability of quality technical and informational support.
  • No emphasis on bonus programs and promotions.

The main thing is to realize where you are investing money. Before starting funds, you should study the broker very carefully and collect as much information as possible about him.

Best UK Forex Brokers

Responsible choice of best forex brokers UK is a significant component of future success because the size of your profit is determined mainly by how favorable the terms of cooperation offered by the intermediary are. In addition, a trustful broker is the guarantor of your stability and financial security. The broker rating will help you to make your choice.

eToro is a relatively new but fast growing brokerage firm with over 5 million traders in 140 countries. Unlike the vast majority of brokers, Etoro strives to engage its clients in the trading process while educating and preparing them for the difficult and stressful environment of foreign exchange trading.

FXPRO is an international broker of the Forex financial market. The company is headquartered in London. In addition, the FXPRO brokerage company has official offices in Monaco, the UAE, Cyprus and other countries. The company’s strengths are the almost complete absence of slippage, competitive spreads, quick withdrawal of funds.

Admiral Markets positions itself as a UK broker headquartered in London. It has been working in the Forex market since 2001, at the moment the company’s turnover is about $ 40 billion per year. The enterprise is quite popular, which is confirmed by numerous positive reviews about this company.

AvaTrade is headquartered in Dublin. The broker offers retail, options, and professional accounts. AvaTrade has branches in 11 countries and has a variety of web, desktop, and mobile trading platforms. It offers Forex and CFD options on multiple asset classes, including cryptocurrencies.

Despite its young age, the British broker Tickmill has become very popular among traders worldwide due to its safety and quality of service. The broker offers services for trading CFD contracts on currency pairs, indices, oil, metals.

Exness is an online broker founded in 2008 in Russia. Since then, it has cdeveloped into a large company. This is not surprising since the firm is one of the few online forex brokers that perform their work as transparently as possible.

Saxo Bank is one of the financial organizations specialized in providing Forex broker services. It also allows clients to trade on the CFD, ETF, and stock options market. The company enables private and corporate users to trade on specially designed accounts and master the unique functionality of the platform

MT4 Signals – Useful Tips for Choosing a Free Provider

Sam Allcock
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MT4 Signals – Useful Tips for Choosing a Free Provider

Now there are many offers on the market with free Forex trading signals. Can you make money with them? What should you pay attention to when choosing?

Free forex signals can be found in large numbers on the Internet. A novice trader or investor who has come to the foreign exchange market and wants to make money by spending a minimum of time is promised ready-made deals from professionals that will only need to be displayed on their account. Free online forex trading signals are not that free. It can be beneficial to the client, as well as to the one who gives them. 

How it works?

  • Free Forex signals are often offered by brokerage companies when opening a trading account with them. Yes, the client does not pay for signals. But he trades them on his account, pays the broker a commission for each transaction. This is a smart “win-win” strategy: the client is motivated to increase turnover and pay a commission to the broker, the trader himself makes money on this, without wasting time on market analysis and mistakes.
  • Free forex signals can be conditional. The client does not pay for them in advance but gives the person who generates these entry points a percentage of the profit earned from the signals. This is also mutually beneficial cooperation. The client pays only for the result, and the one who gives the signals is interested in the trading algorithm being profitable.
  • The third option for free signals is a temporary test period in order to make sure they are profitable. Then you will have to pay for the service.
  • Another explanation for why signals can be free is a marketing ploy. Forex trading signals for free is just one of the services, thus attracting a client, they intend to sell him something else.

How to find a provider

A comprehensive search for signal providers is carried out through specialized platforms. Options for trading through MT4 are available. Subscribers and those who are just about to become them have full access to detailed statistics of signal providers’ trading. All information about MT4 Signals is displayed in a convenient visual form, allowing you to flexibly evaluate trading parameters – profit factor (profitability factor), total profitability, maximum drawdown, etc.

A subscriber can receive trading signals from multiple providers. At any time, you can change the parameters for copying signals, disconnect the current provider or connect a new one. A fairly convenient feature is the free connection of Push-notifications about trade transactions to your mobile phone.

Best Free Forex Trading Signals

The best MT4 signals for free, in our opinion, are those where the payment goes for the result as a percentage of the profit. This motivates the trader who gives them to take care of the profitability and that the client applies everything correctly and earns.

Free online forex trading signals from many large brokers are also good, especially if they are provided by experienced traders. You can receive signals online in the messenger, in your personal account, in a special application that is installed on your smartphone.

WYSIWYG HTML editor – 3 advantages

Sam Allcock
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WYSIWYG HTML editor – 3 advantages

WYSIWYG HTML Editors are practical tools that allow you to quickly create and edit code. WYSIWYG stands for What You See Is What You Get, meaning code writing and the result happen simultaneously in real-time. It is particularly useful for project teams – here is why.

See the history in WYSIWYG Editor

Some WYSIWYG HTML Editor allows you to save any changes you make to a document. The history of changes is shown as successive versions, which can be given any name. However, changes are also recorded without additional interference and can be accessed at any time with the date and time of a particular edit. The history of changes is saved for all persons editing a given document in order to facilitate the tracking of amendments and code additions.

The best solution for teams – collaborative editing

Documents created with the code editor are stored in the cloud, allowing access for many people at one time. Therefore, it is a perfect way to organize work in a team, especially in the era of remote working. A collaborative real-time editor allows all authorized users to read and edit the document. They can also observe changes made by other users in real-time. The editor also allows users to add comments and discuss changes. Users can be added to different models of authorizations, which give them the ability to edit the text or only to add comments or read the document. Users can see the results of their work thanks to split screen preview.

Best HTML editor gives you many possibilities and flexible programming

The program is a rich text editor, which gives the possibility not only to create HTML pages, but also allows you to conveniently add external media. So you can put in a document photos from disk or videos from YouTube, which will be responsive. The editor also works with other formats – it allows you to conveniently copy content from other editors and format it for different extensions. The finished file can be downloaded in any document format, such as doc or PDF. It also allows creating an HTML page.

Automation and pleasure of working in WYSIWYG Editor

The editor has built-in automatic text formatting, including a WYSIWYG HTML Editor. It allows you to keep an eye on the output from the code you are writing and speeds up the pace of your work. In addition, it allows you to edit other programming languages and access a number of plugins to make your work easier. Moreover, the user interface is very friendly – operation is intuitive and simple. The editor has many features that not only make work easier but also more enjoyable – these include customized user avatars and a clean design which makes it a beautiful JavaScript Web Editor. There is also API documentation available for users. Therefore, it will work well for both small projects and large corporate processes.

A qualified victory for trader against regulator

Claire James
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A qualified victory for trader against regulator

Financial regulators around the world will be approaching the fourth quarter in a vigilant mode. Over the summer, the credibility and impartiality of the Australian Securities and Investments Commission (ASIC) came into question in a judgement following a prolonged legal fight. The judgement went substantially against the regulator and provided a moral victory for a day trader whose company, Select Vantage Inc (SVI), had already seen ASIC’s investigation into them dropped. Daniel Schlaepfer, SVI’s CEO, had been suing ASIC since 2016 for defamation following comments their Head of Market Supervision made to brokers in 2014 implicating SVI in potential market manipulation.

Schlaepfer commented on the judgement that: “We are glad that this lengthy process has come to a conclusion. Suing powerful regulators for inappropriate conduct is not an endeavor one enters into lightly. We felt forced to do so in light of what we perceived to be unfair behavior by ASIC.” The judgment found that while ASIC was not without cause in the communications it made that they had nevertheless defamed Mr. Schlaepfer – in essence ASIC officials were found to have played the man and not the ball. The victory is partial because the judge allowed that ASIC was permitted under qualified privilege to raise suspicions about market manipulation, even though their suspicions proved to be unfounded.

The regulator had suspected SVI traders might have been engaged in illegal ‘layering’ activity, which involves placing orders for a stock which the trader never intends to fulfil, creating interest in the market by suggesting there is demand present. The fake orders quickly disappear but can have an impact on the price which the trader can make a profit on if they act in seconds.

The context is that in 2010, a firm called Swift Trade for which Schlaepfer worked was accused of layering, fined $100,000 and its founder Peter Beck eventually barred from trading. Schlaepfer bought the company’s assets to set up Select Vantage with the aim of professionalizing the business by implementing rigorous compliance systems.

Schlaepfer’s firm quickly grew to engage over 2,000 traders in 264 offices in 39 countries around the world, including Australia. So when he learnt that the Australian regulator had implicated to brokers without evidence that SVI was itself engaged in layering, it struck a nerve. Schlaepfer chose to sue the regulator in 2016 and refused to settle, eventually taking ASIC to court in Sydney in 2019.  A three-week trial was unsuccessful, with the judge stating that the regulator was merely responding under its market integrity rules when it communicated its concerns about SVI to major stockbrokers, despite never having informed Schlaepfer about their concerns, let alone their communications about them.

Core to Schlaepfer’s case was that his firm should have been informed about the regulator’s concerns and provided with the opportunity to respond, in this case to explain any trading patterns which ASIC might have thought suspicious. However, the regulator did not contact SVI about any specifically suspicious activity before it called around the market to voice its concerns. As such Schlaepfer claimed their communications to brokers amounted to no more than damaging unsubstantiated hearsay – or in other words, defamation.

The ruling was appealed on this basis, with Schlaepfer’s lawyers arguing that the judge had “worked a miscarriage of justice and produced a mistrial.” The decision to appeal was vindicated. The judge found that the fact that ASIC’s communications “were made without any opportunity for Mr. Schlaepfer to respond was fatal to the element of reasonableness required to be established in order to make out the statutory defence.”

The conclusion to the appeal judgment was even more emphatic, stating that Schlaepfer had been found “successful on most issues including the defence of truth, which occupied a substantial portion of the proceedings. That success has achieved what was said to be an important outcome of the appeal, namely, the vindication of Mr. Schlaepfer’s reputation. Although ASIC has succeeded in establishing the defence of qualified privilege at common law, that is a defence of confession and avoidance. To put the matter another way, Mr. Schlaepfer has established in the appeal that he was defamed, but defensibly so.” The regulator was also ordered to pay two-thirds of its costs arising from the proceedings.  

A central issue raised by this case is the need for greater and more frequent communication between regulators and market participants. This is especially important as financial technology continues to develop at a rapid pace, creating more areas where misunderstandings may arise concerning what constitutes legitimate practice, particularly in the sphere of trading. Unless a culture of deeper communication is cultivated, we will see more cases in which regulators feel bound to express opinions on financial technologies and trading practices they do not fully understand.

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