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How the shipping industry is fairing in a digital world

Sam Allcock
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How the shipping industry is fairing in a digital world

We live in an era of unprecedented technological change. Across all areas of life, new technology, principally digital, is disrupting previously accepted forms of behaviour, and this disruption shows no signs of slowing down. Perhaps the business sector has been hardest hit by the digital revolution of the past decade, with the rise of the internet and e-mail, e-commerce and computerisation of formerly manual processes utterly transforming most fields of manufacturing, retail, transportation, finance and service.

Alongside and partly because of this digital revolution we have also seen the globalisation of trade and production. These changes, while largely positive, have also brought with them many difficulties, and the social and environmental impact of global trade and digital technology has been considerable. In all cases, the shipping industry finds itself at the forefront of a transforming culture. Yet, in some ways shipping has been the slowest sector to adapt to this new frontier.

 

Conservative industry 

There are several reasons why shipping is seen as a very conservative, traditional and slow-moving industry. One could point to the fact that most port and shipping office management are ex-mariners and due to their age and background are unlikely to encourage new and unfamiliar procedures. The fact that many shipping companies are hierarchical, family-owned businesses also contributes to the industry being slow to embrace change.

There is also the level of risk involved in being a trend-setter in a highly competitive industry that relies on effective communication between shipping firms, charterers and port authorities and so on. In many fields, change comes from the smaller players, but in shipping, such innovation is rarely rewarded. For new methods to be effective and accepted the major companies and bodies must adopt them.

 

Innovative technology 

There are however signs that such changes are underway. Evangelos Marinakis is just one prominent shipping magnate who sees change as a positive factor and understands the need to deploy cutting edge technology both for greater efficiency and for improved safety. Elsewhere, pioneering research that could utterly transform shipping is being carried on behind the scenes, but could have a dramatic real-world impact within the next ten years.

 

Autonomous shipping 

Rolls Royce has allocated a significant research budget to the design and development of unmanned, automated or autonomous vessels- essentially, ships with no crew that are piloted and maintained solely by digital technology. The European Union is funding a similar project to the tune of nearly £4m. If successful, such ships would be able to carry a much increased cargo load due to the absence of crew, and would have reduced fuel requirements, with obvious financial and environmental benefits. The cut in labour could save up to 40% of current operating expenses, though of course such a move would be deeply controversial in terms of worker’s rights.

 

Going green 

Engineers in Norway have also been working on the Vindship, a hybrid merchant vessel for sustainable sea travel that is part propelled by wind power, backed up by liquefied natural gas engines. On-board computers are also used to calculate the most efficient seafaring routes based on up-to-the-minute weather data. This environmentally friendly vessel could lead to 60% fuel savings and an 80% reduction in carbon emissions.

Other green technology initiatives currently in the pipeline include sulphur scrubber systems, which offer up to 98% reductions in sulphur oxide emissions by washing them out at the exhaust pipe, and advanced rudder and propeller systems to improve speed while reducing fuel consumption.

 

Clouds up ahead 

The combination of cloud computing and the Internet of things (IoT) also opens up many new possibilities, some of which are already being explored. Online sites that can be accessed by multiple users via the cloud are a much more efficient method of communication than phone, fax or even email, allowing for rapid connectivity between vessels, ports, shipyards and contractors. These can be restricted or open, and in the latter case there is the advantage of transparency, for instance in objectively assessing the current fair market value of ships.

 

The future 

Overall in shipping the picture is of boundaries blurring and of change being forced by outside threats, whether these are economic and environmental or in the form of powerful new e-commerce challengers like Amazon, who are increasingly looking to manage their own shipping and logistics without being bound by traditional industry rules. Integrated digital solutions will mean that previously separate areas like shipping, finance, insurance, chartering and so forth will increasingly be managed simultaneously. There will be many challenges to overcome, but every old sailor knows that it’s futile to try to go against the tide of progress.

 

Affordable methods to make your home sell

Sam Allcock
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Affordable methods to make your home sell

Selling your home is not a walk in the park. With prices quickly rising out of the younger generation’s reach and global economic events such as Brexit plunging buyers into uncertainty, homes are languishing on the market for months or even years on end.

While it might seem as though your home is going to be a millstone around your neck forever, it is important not to lose hope. We have put together a list of simple, do-it-yourself tips that can significantly boost your property’s chances of shifting off the market and into the hands of a happy new homeowner.

 

First impressions are everything 

Home experts believe your property’s appearance on first sight is crucial to hooking in a potential seller.

That means it is time to get busy with those small but vital jobs that you’ve been putting off for ages. Don’t neglect your fronts – mow the lawn regularly, cut back any overgrowing hedges, and fill in those annoying cracks between your paving slabs.

If you are selling a flat, keep the corridor clean and tidy and consider putting some soft furnishings or flowers outside to make your place feel welcoming.

First impressions can make a difference; so don’t blow your chances of a sale before buyers even get through the door.

 

Let there be light 

A tried-and-tested way to a buyer’s heart is to ensure the interior environment is bathed in as much light as possible. The way to do this is to throw the curtains wide open and allow natural light to flood in. That might not be possible in every room, so if you cannot rely on the sun to brighten up your property consider fitting a high wattage light bulb or giving your ceiling a fresh coat of brilliant white paint.

 

Add some quirks

Injecting a subtle dose of character into your home can go a long way towards hooking in a potential buyer because it makes your house stand out among the sea of viewings buyers have to endure. You don’t have to fill your house with junk and make it resemble a jumble sale or vintage shop. In fact, that is not a good idea! However, for a quick way to get the wow factor, consider adding some sophisticated and striking design features that will not break the bank. For example, why not let more light in by replacing the curtains in one room with a set of gorgeous, stylish cheap shutters.

 

Staging your home 

“Home staging,” as it is known among experts, might seem like a chore or even unnecessary – but it is a crucial part of the sale’s promotion process.

You need to ensure that potential buyers can visualise themselves living in your home, so it is a good idea to subtly remove personal items such as family photos. Remember, you can always store them in the cupboard and replace them when viewings are concluded.

We all live with clutter and mess from time to time, but for viewings remember to keep your home spick and span. Your ordinary housework routine might not be enough, so remember to clean those often neglected areas such as skirting boards and sinks.

You might think nobody will notice, but be aware that buyers are eagle-eyed!

 

Use social media 

Facebook, Twitter and Instagram are not just for organising your next night out or showing off your holiday snaps. Social media can be a valuable tool for promoting your property, and it is becoming more popular for sellers to share the online page their estate agent has designed for their property.

Recent estimates suggest people have 338 Facebook friends on average, and even if only some of your network might be interested, having an extra pool of potential buyers ready and waiting is no bad thing.

And if you persuade a few friends to share your home on their profile as well, the word-of-mouth effect can amplify your home’s reach five or ten times over. What’s not to love?

Selling your home in a market as volatile as this one can seem like a daunting task, but luckily, there are handy ways to make your house or flat stand out.

With a bit of a preparation and a well-staged home, you can boost your chances of a sale and get yourself ahead of the competition.

First steps before you start investing in binary options

ABC Staff
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First steps before you start investing in binary options

If you want to start in the world of binary options, you must know that we are talking about a world more complex than it may seem to be in which every detail counts.

In order to help you take your first steps, we have prepared this comprehensive guide with some tips that we hope will help you to take the first steps in the world of binary options.

Everything you should know about binary options – 

Choosing a good broker

The correct selection of a broker will predesignate whether we are successful in this market or we have to face complicated platforms, exorbitant interests, etc.

You need to look for a broker that is regulated, that offers you a percentage of return of investment that is between 65-70% (there are even some people that give up to 15% if the investment has not been successful). You can choose from a wide variety of assets and do not forget to avoid to ruin commissions.

In Spain there is a very good portal of binary options very reputed. We are talking about www.opcionesbinarias.site. Here we can find complete comparatives of brokers to choose the most successful. In addition, we can also find some very practical tips.

Volatility

A basic factor that we have to consider when investing in binary options is the volatility of the markets. You must think that a certain asset can change trends almost from moment to moment, so you must learn to give nothing for sure.

Minimum capital

We recommend that you always start with minimal capital, so you can learn how to managed the risk. If we do not have experience, the risks we are going to take are not only going to be greater, but they are going to be absurd too.

Using “demo accounts” or simulator

These accounts are intended for both beginners and those who want to see how such a strategy works. They help us to experiment without having to pay with real money; The great advantage of this resource is that we will not lose money, but we will not win either.

Information

Information is the key to the success in the investment world, as well as whether we are talking about binary options, such as the stock market or any other sector. By this we mean that you investigate as much as possible and that you learn little by little, the rush was never good.

There are many physical books that can serve you, although there is also very valuable online information collected in eBooks. Even the most experienced investor should be recycled continuously.

Control your emotions 

Making a correct investment requires discipline and method. The hunches can end well or very badly, so do not let yourself be carried away by them. The success that we reap will depend on how well we develop in the world of negotiations, whether or not we are calm before acting and how we concentrate.

Learn from mistakes

Do not be afraid to make mistakes, simply learn from them to avoid re-committing them for the future.

With these keys, you can already start to move in the investments of the binary options, as we anticipated previously, with caution.

UK skills gap: what businesses can do to mitigate the crisis

Sam Allcock
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UK skills gap: what businesses can do to mitigate the crisis

Skills shortages have been reported for some time now in the UK, but the prospect of Brexit and other factors suggest that a once-minor issue could become a disastrous problem for enterprises across a range of industries. Almost half of employers expect a shortfall of qualified candidates for permanent roles this year, according to research by the REC, while an annual survey of SMEs found that sourcing skilled staff is now the single greatest challenge.

The tech sector is particularly vulnerable to a skills gap that is quickly becoming a chasm as demand for experts outstrips supply considerably. Job search site Indeed revealed that the number of professionals looking to secure a job role in cybersecurity accounted for less than a third of the total jobs posted, which represents the second-biggest skills gap anywhere in the world. “The problem is fast approaching crisis point, and British businesses will inevitably be put at risk if they can’t find the expertise they need to mitigate the threat,” Indeed economist Mariano Mamertino adds.

Chronic skills shortages are also affecting the manufacturing industry, where 68 per cent of companies admit that job applicants often lack the requisite technical skills, and almost three-quarters express concern about bringing in the right mix of skills before the end of the decade.

Brexit chaos

The UK’s decision to leave the European Union has exacerbated concerns and worries about the job market. Hired’s Mind the Gap report published in the wake of the Brexit storm last year found that a third of workers in the tech sector are from other European countries. While the UK Government is likely to work hard to get a deal to ensure that enterprises can still attract the best talent, the prospect of a diminished talent pool is real.

Brexit is just one aspect of a bigger problem for UK business though, as a new study by IPPR highlights a trend of lacklustre investment in employee training schemes. Spend is a staggering £6 billion less per employee compared to the EU average, while an uptick in the percentage of the workforce with degree-level qualifications has not resulted in a similar increase in productivity. It’s critical that against this backdrop of shortages, enterprises move heaven and earth to implement strategies that will go some way to closing current and future skills deficits.

 

What can businesses do?

Internal talent

IPPR is calling on the Government to implement a ‘Skills Levy’ to raise the £5.1 billion required to provide high-quality vocational education and training to employees. While the focus is often on bringing in new staff, enterprises should also improve their employee retention programmes and look to grow internal talent. PwC’s Millennials at Work study shows that the majority of workers are attracted to an organisation with the potential for career progressions. Upskilling the workforce is in your best interests anyway, as it will drive productivity and other positive business outcomes.

IPPR Associate Director for Work and Families Clare McNeil adds: “Britain’s economy can’t survive outside the European Union without bringing investment in skills into line with our competitors and making sure employers are making better use of workers’ skills.”

Hire contractors

Uncertainty across the business landscape means that you will often be better placed with a more flexible and scalable workforce. Hiring contractors registered with an umbrella company will enable you to access the skills that you need, and the fact that a third party will manage invoices and address any contractor pay issues alleviates the burden of paperwork and other processes that can be drain on time and resources during a recruitment drive. Contractors are also more likely to be skilled in a particular niche, which is vital for diversifying your team if growth is on the agenda.

Cross train

A culture focused on cross training or redeployment will also enable you to build a more efficient, agile and collaborative workforce and increase morale. Always be on the lookout for versatile internal employees that could make the move to another role and potentially cover for “irreplaceable” workers with specific technical skill sets. Doing so will also benefit external hiring, as it shows that the enterprise is ready and willing to invest in its staff.

Talent analytics

“Making better use of skills” has been noted as a solution for skills shortages by experts, and UK enterprises appear to be behind the curve in terms of using talent analytics to establish a holistic view of their workforce and recruitment. Leveraging data and statistics will enable you to see what exact skills you need. This will better inform any internal, cross training, redeployment and hiring strategies and allow key decision makers to map out the future of the business.

There won’t be a one-stop solution to the skills deficits felt across various sectors in the UK, but a multi-faceted strategy and smart investment could make the difference. J.P. Morgan exec Hang Ho concludes: “The right training is key to this, and it’s the joint responsibility of employers and policymakers to work together to ensure the UK’s current skills gap doesn’t widen any further and proactive steps are taken to reduce the gap.”

Britain is Drawing Nearer to a Rake Hike Environment

Sam Allcock
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Britain is Drawing Nearer to a Rake Hike Environment

Last week, the global financial markets had a rude awakening suggesting that the Bank of England might soon be heading towards a decision to raise interest rates. Three policymakers in the Bank of England’s Monetary Policy Committee (MPC) voted to support an increase in Interest rates in June. The policymakers namely; Kristin Forbes, Ian McCafferty, and Michael Saunders voted to raise interest rates from 0.25% to 0.50%.

Of course, the vote was not enough to compel the Bank of England to raise rates because the MPC had eight members and the other 5 members didn’t vote to support the rate hike. Yet, the 5:3 vote is the closest that the Bank of England has come to raising interest rates since 2007; hence, we can reasonably conclude that policymakers are bullish about the prospects of UK’s economy.

 

A new Bank of England policymaker leaning towards a rate hike

Fresh news out of the market indicates that one of the economists that voted against the rate hike last week is leaning towards support an increase in interest rates next month. Andy Haldane, chief economist at Bank of England has said that he will vote to support an increase in interest rates soon enough. Stewart Howell an analyst at Lionexo observes that “the news caused the Pound Sterling to climb up 0.42% to $1.2684 to suggest that London is optimistic about what an increase in interest rates might mean for the economy.”

Mr. Haldane decided to support the rate hike in a speech nothing that “having weighed the evidence, I think that the balance of risks associated with tightening ‘too early’, on the one hand, and ‘too late’, on the other, has swung materially towards the latter in the past six to nine months.”

The rate hike is not yet a done deal

Based on the current state of things, we can expect the MPC to be spilt 4:4 when the rate hike decision comes up for a vote in August. If the rate hike vote is hung (as you can expect in a 4:4 vote) the Bank of England governor will have the deciding vote.

The MPC should have nine members but deputy governor Charlotte Hogg who resigned in the first quarter of the year is yet to be replaced. If her replacement is named before the August meeting, the MPC will have nine member and we might have a significant vote for or against the rate hike.

Nevertheless, it is also important to note that Kristin Forbes who is spearheading the charge for the rate hike will leave the Monetary Policy Committee at the end of this month. Silvana Tenreyro will be replacing Ms. Forbes in the MPC – London will expect Ms Tenreyro to vote in support of the rate hike but nothing is certain until she casts her vote.

Another factor that could derail the rate hike train is the possibility that Mr. Haldane might change his mind about supporting the increase in interest rates. In 2014, Mr. Haldane said he’ll support an increase in rates but he changed his mind later noting that the available economic data has become gloomier. Hence, we would to wait see what actually happens in the next four weeks before we know how the Bank of England is likely to act on Interest rates.

Is the Sterling Suffering Over Political Uncertainty?

ABC Staff
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Is the Sterling Suffering Over Political Uncertainty?

One of the tried-and-tested rules of the financial industry is that political uncertainty tends to weigh heavily upon currencies. A stark illustration of this concept can be seen in the falling value of the sterling due to recent election results and a hung parliament. One of the main issues is how much power the Conservative Party will retain, as many investors felt that they would have been able to provide more economic stability during Brexit negotiations. So, what are some of the primary factors that have caused the pound to fall and what can we expect in the coming months?

What Do We Know So Far?

There is no doubt that the pound has been in the doldrums when compared to other benchmark currencies such as the United States dollar and the euro. To put this into perspective, its value has fallen no less than 14% since the results of the 2016 Brexit vote. This movement is primarily thought to be the result of reactions to a “hard” Brexit; a withdrawal process that will be fraught with difficult negotiations and uncertainty over future trade arrangements. It is also believed that the pound will remain particularly weak against the value of the euro.

Why Such Negativity?

Political instability and an overall lack of clarity are the two main driving factors behind such investor sentiment. Many feel that Theresa May is not in a strong position and therefore, infighting may continue for some time. The so-called bottom line is that investors are simply not willing to place their confidence into the pound until more clarity is offered by the UK government.

On the other side of the proverbial coin, recent movements suggest that the FTSE 250 is trailing behind the FTSE 100. As the 250 is a strong barometer in regards to the British economy, this may be a further hint that domestic businesses are in for a rough time. As if these observations were not enough, financial powerhouse Moody’s recently suggested that their overall outlook for the value of the pound is bearish as they are likewise considering future political uncertainty. Currency traders will obviously listen closely to such conclusions, as these types of announcements can quickly evolve into self-fulfilling prophecies.

The Overall Domestic Psychology

Although much of the fiscal spotlight has been placed upon political deadlocks that still need to be broken, the impact of the private sector cannot be overstated. It is no secret that many businesses felt that the pound would fare poorly immediately after the election, particularly if no clear majority won. Pre-election surveys illustrated this fact, It was found that 46% of Londoners employed in private sector felt that the pound would fall substantially after the election.

The problem with this viewpoint is that such individuals are much more likely to curtail their spending habits until more stability materialises. Unfortunately, this might have a knock-on effect and cause the pound to fall even further before it encounters some form of baseline support.

What Can We Expect?

The value of the pound will not fall infinitely. Once post-election Brexit plans are clarified, we should certainly see some form of stability. It is also worth mentioning that a weaker pound could very well present attractive investment opportunities for those who are dealing in dollars and euros. Although this may not exactly represent the financial silver lining that the private sector has been hoping for, it is nonetheless a perspective to consider.

The future value of the pound will obviously reflect the state of political negotiations as well as overall investor sentiment. When greed enters into the marketplace, financial experts will always tighten their budgets. In some ways, such a negative movement is perfectly logical when we consider the current situation.

Website Launch Sees E-Commerce Retailer Happy Beds Unveil Innovative New Features

Sam Allcock
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Website Launch Sees E-Commerce Retailer Happy Beds Unveil Innovative New Features

Newly-launched website includes Build Your Own Bed tool, adaptable product information and a lifestyle blog that aims to take the bed retail business to “the next level”.

Online retailer Happy Beds launched their new website this week, with the Manchester-based business looking to continue its expansion into one of the UK’s most prominent bed brands.

Launched in 2010, the bed and mattress business quickly began seeing consistent growth and now enjoys an annual turnover of £3m, all without outside investment and stiff competition from established brands such as Dreams and Benson for Beds.

Welsh web developers Elevate Web, known for their work with brands such as Peacocks, Go Outdoors and Jane Norman, built the site alongside Liberty, a Cardiff-based digital marketing agency noted for their work with Not On the High Street and Benefit Cosmetics.

A central feature of the new site is the bespoke bed builder tool, which allows users to customise their own bespoke divan bed, with the image adjusting in tune with the customer’s choices. Alongside this, the site also boasts a mattress tension adjuster that will give recommendations based on the user’s weight and personal preferences.

As mentioned, the site also features a lifestyle guide known as ‘The Comfort Zone’, where Happy Beds’ own sleep specialist, Joy Richards, provides advice and guidance on subjects ranging from lifestyle to mattress guides.

Happy Beds owner Rex is excited by the possibilities of the new site and its ability to build upon the growth already made. He stated that:

“We wanted to create an ‘in-store’ experience online. Buying a bed is such a personal, important purchase that it’s important to give customers as much information as possible.

The Bed Builder and the Mattress Tension guides give shoppers a more interactive experience than they could get on any other eCommerce store, which is really exciting. It’s often said that beds and mattresses must be tested in person before being bought, but I think the levels of detail on our new site disproves that. 

I’m so proud of the progress that our team has made in such a short space of time. We’re ambitious and we want to take the brand to the next level, and this new website will help us do just that.”

About Happy Beds

Originally founded as a third-party seller on Amazon and eBay by owner Rex in 2010, Happy Beds quickly grew and its own domain www.happybeds.co.uk was launched in 2012.

All products are made to order and shipped from the Happy Beds hub in Manchester, and the business garners an annual turnover of £3m with over 20 full-time staff members on board.

For more information about Happy Beds, or for further quotes, please contact Kristina Salmane at kristina@happybeds.co.uk.

Nearly 5,000 Homes Have Now Been Bought Using Help-to-Buy Wales

Sam Allcock
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Nearly 5,000 Homes Have Now Been Bought Using Help-to-Buy Wales

Statistics reveal 4,797 Welsh homes have been bought using the Government Help-to-Buy scheme since its introduction in January 2014.

Howells Solicitors, a legal firm based in South Wales, has utilised data released by StatsWales to shine a light on the scheme and how young people are purchasing property across Wales.

Where Are First Time Buyers Setting Up Home?

Both Newport and Flintshire have seen high uptake of the scheme since its implementation, with 848 and 577 purchases respectively. Whereas the lowest number of Welsh properties bought using Help to Buy can be seen in Ceredigion, the Isle of Anglesey and Blaenau Gwent.

Examining the data from the ‘Help to Buy Scheme Transactions Record March 2017’, 104 homes in the Welsh capital, Cardiff, have been bought using the scheme, whereas Swansea recorded 305.

What Type of Properties Are Being Bought Using Help to Buy Wales?

The most common type of home bought through the scheme was a three bedroom property (2,415 bought to date), with four bedrooms placing second most popular (1,501 bought to date).

At the opposite ends of the scale, just 92 one bedroom properties have been bought in Wales through the government scheme (a third of which were in Cardiff), and 26 five bedroom property sales have been completed.

What Does the Future Hold for Help to Buy in Wales?

Of the almost 5,000 completed Help to Buy cases to date in Wales, Howells Solicitors have completed 1,146 of them – equating to over 23% of all cases, the most out of any UK law firm.

Commenting on the positive impact the scheme has had for first time buyers, Philip Howells, co-founding director of Howells Solicitors said:

“The financial assistance provided by the scheme has enabled first time buyers to enter the housing market at a time when lending criteria had been significantly tightened following changes to legislation regarding the financial services industry. 

“The scheme has been very successful and well received by home buyers and those involved in the house buying industry. It provided a much-needed boost at the right time.

“Help to Buy ISAs and Help to Buy equity loans are now providing other options for first time buyers and, with the Lifetime ISA being launched just last month, this continued financial assistance will be of benefit.”

Map created by Howells Solicitors. Data provided by StatsWales.

About Howells Solicitors:
Howells Solicitors is one of the leading conveyancing law firms in Wales with six local offices across locations such as Cardiff, Newport and Swansea.

Why You Should Have Account with FCA UK Regulated Forex Brokers

Elliot
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Why You Should Have Account with FCA UK Regulated Forex Brokers

In the U.K., the Financial Conduct Authority (FCA) is the independent body that is vested with the responsibility of overseeing and regulating the operations of financial services companies, including the forex brokers. The FCA, formerly known by the name the Financial Services Authority (FSA), was set up in 2013 on the basis of the UK Government’s finding that the FSA was not adequately equipped to deal with financial irregularities. The agency’s inadequacy became very evident during the 2007-2008 financial crisis.

The FCA is not dependent on Government funds to carry out its functions. However, the agency is answerable both to the Treasury and the Parliament. The FCA operates with the help of membership fees paid by financial companies that are registered with the agency and by raising funds through other channels. As a result, the FCA is forced to maintain a fair code of conduct as far as all the firms providing financial services to residents in the country.

FCA Regulation – How Does It Work?

The FCA has been vested with a great deal of power to ensure that all financial services companies operating in the UK follow certain operating standards. The FCA can revoke the licenses financial services companies, scrutinize promotional and marketing material, audit the accounts of companies, and make sure that the clients get a fair deal when availing the services of these financial companies. The agency is also given the power to suspend the activities of any firm for a period of up to one year if allegations of fraudulent activities are raised against the company. The agency also has the power to suspend licenses of companies indefinitely if they feel it is necessary. As a result, firms that operate under the regulatory purview of the FCA would often ensure the safety and security of their clients. They will never work against the interests of their clients.

FCA Regulated Forex Brokers Are Reliable

A forex broker in the UK is required to be licensed and regulated by the FCA as per the law. As such, the FCA regulated forex brokers are highly reliable because they are bound to follow or comply with the various laws that are outlined in the code of conduct section of the 2012 Financial Services Act. Further, the FCA has the freedom to amend the laws as and when they deem necessary so as to safeguard the interests of the traders and investors.

FCA Regulation – Benefits To Customers

As the regulating authority for overseeing the functioning of financial companies, including forex brokers, the FCA’s main focus is protecting traders against different types of frauds as well as financial crimes. Further, the FCA guarantees the market integrity by monitoring the activities of all of the registered financial service providers and ensuring the health of the U.K. financial system.

Additionally, the FCA promotes healthy competition within the market by enabling companies to attract customers in a fair and honest manner. Moreover, the agency enforces stringent rules and carefully monitors the activities of the members so that the companies do not take advantage of the loopholes in the system.

Final Thoughts

Now that you have some idea as to the FCA operates, let us understand the three reasons why you should have FCA, UK regulated forex brokers:
#1: An FCA regulated forex broker in the UK is obliged to provide customer-centric services
You can expect regulated brokers to treat you fairly and without any discrimination, ensure clear communication and cater to your needs rather than focusing on their profits.
You cannot expect unregulated brokers to behave in the same manner. Sometimes, even the most highly recommended but unregulated brokers do not serve their customers properly.

#2: The FCA provides a solution to globalization
Globalization has resulted in rogue brokers setting up operations in the U.K. The FCA works with overseas regulators to curtail the activities of such brokers.

#3: An FCA regulated forex broker in the UK is accountable
The regulated forex brokers in the U.K. are required to comply with certain standards set by the FCA to maintain their status. Although the agency cannot guarantee total protection, those brokers that do not comply with the regulatory requirements are held accountable for their actions.

In order to sustain your forex trading business, you need to protect your hard earned money. It is, therefore, imperative that you work with an FCA regulated forex broker in the UK so as to achieve your financial goals.

Forex Trading Industry Statistics 2017

Sam Allcock
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Forex Trading Industry Statistics 2017

What are the main forex industry stats for 2017, and why are these statistics important to you as a trader? This article spells out some of the little known facts about the forex market.

Introduction

What is the forex market? The forex market is not just a place where currencies are bought and sold on a daily basis. Sure it is a market for that activity, but it goes far beyond merely buying and selling currencies. The forex market is indeed a large market that brings together central banks, investment banks, commercial banks, hedge funds, retail traders, technology providers, statisticians, quants, software developers, analysts, just to name a few. It is therefore an entire industry which supports at least 20 different professions. This is just how large this industry is. So when talking about the forex industry statistics for 2017, it is important to know what industries within the industry, is represented in the stats that will be presented.

So what are the industry statistics for the forex market in 2017? Let’s take it from one sector in the forex industry to another.

Forex Daily Turnover

This is obviously the first place to start. How much money moves around the forex market on a daily basis? According to the last triennial survey of the Bank of International Settlement (BIS), the size of the forex market turnover as at 2016 was $5.2trillion. This makes the forex market the biggest financial market in the world.

However, after years of massive growth spurred by the deregulation of the market and entrance of all types of new technology, statistics also show that the forex market is actually shrinking. Coalition, a top industry analytics firm, also reports that trade volumes across the major trading hubs are down, and the number of people employed at trading desks is also falling. What could be responsible? Experts cite increasingly tougher regulations, as well as industry readjustments in the face of some major market-moving events such as the January 15, 2015 Swiss National Bank move. Lower interest rates which have made carry trade opportunities hard to come by have also been implicated.

The sheer size of the forex market means that it is still a place brimming with opportunities not just for traders, but for those offering value-added services to segments of the market.

Forex Market Technology

Under the forex market technology segment, we have the following:

  1. Trading technology – trading platforms.
  2. Trading technology – automated trading software and algorithmic trading solutions.

The market technology segment of the forex market is usually provided by smaller companies which service the retail and institutional ends of the market. On the retail end, we have the retail trading platforms (MT4/MT5, NinjaTrader, TradeStation, JForex, etc) as well as the various expert advisors and indicators. What has been the trend in the usage of the technology solutions behind the forex market?

  1. Trading Platforms

When it comes to retail forex trading, the most popular platform is the MetaTrader4 platform. It has been so successful that the successor to this platform, the MT5, has been unable to capture the market share that the MT4 has occupied for so many years.

  1. Forex robots

Many more users are turning to trading robots to perform their trades for them. Not only is the number of traders using algorithmic software and retail forex robots increasing, the usage of trading software has also brought in traders from age groups that were not active in the market several years ago. A report from Fortune.com shows that college kids are now trading with robots from their dorm rooms.

This information shows clearly that the use of technology is far outweighing human input when it comes to performing trades. With the appropriate technology, traders can get better fills, faster executions and more efficient trade management.

The Currencies

When it comes to currency analytics in the forex market, the data that most traders would be interested in are as follows:

  • What currencies are the most traded currencies in the forex market? This is important because the costs of trading these currencies are lower, and market movements tend to be more predictable.
  • What currencies trended the most, and which ones are the most trending right now? This is important information for long term traders.

The US Dollar is still the most traded currency in the world, followed by the Euro, the Japanese Yen, British Pound, Australian Dollar, Swiss Franc, Canadian Dollar, Mexican Peso, Chinese Yuan (RMB) and New Zealand Dollar, in that order. You can get the exact statistics for the most traded currencies from this authoritative source.

The most traded currencies tend to have more liquidity, more volatility and therefore more tradable opportunities at lower spreads.

Major Institutional Players

Most of the market volume in the forex market is generated by the big banks, who are also the liquidity providers. Institutional trading accounts for 94.5% of forex market volume. In terms of forex liquidity, Deutsche Bank holds the largest market volume, providing up to 21% of the market liquidity.

Generally speaking, there is a lot of competition from prime brokers to provide their clients with better tools for trading, trade execution and reporting. These tools can be used not just to trade spot forex, but also forex forwards, non-deliverable forward contracts (NDFs), forex swaps as well as FX options.

There is a lot to be explored in the forex market, and it is left for traders to discover what these opportunities are so that they can maximize their possibility of making good returns on their investments.

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