The new BEAC (Bank of Central African States) rules introduced in June were intended to clean up the money block flooded with petrodollars, which, due to poor control, often end up in offshore bank accounts after a complete bypass of the local economy.submitted by Oinvest1 to u/Oinvest1 [link] [comments]
The rules include that all foreign currency transfers that exceed 1 million CFA francs ($1,680) must be subjected for approval by the bank and that all export proceeds above 5 million CFA ($8,400) will be repatriated within 150 days by local bank account.
According to entrepreneurs, the efforts of the BEAC to combat money laundering and replenishment of thin foreign exchange reserves lead to acute currency shortages and delays in operations through the currency union of six countries.
The central African CFA union includes the former French colonies of Chad, the Republic of Congo, Equatorial Guinea, Gabon, Cameroon, and the Central African Republic. All but the last one are among the largest oil producers in sub-Saharan Africa, whose financial transactions are amongst the most non-transparent in the world.
The bank also ordered to close onshore accounts in foreign currency, some of which may be reopened with its consent, and banned the use of offshore accounts by companies existing in the region without prior permission.
Businesses have complained that they have been waiting for months to take hold of hard currency and cannot import materials or pay suppliers.
Major mining and oil companies have the most significant influence on lobbying for change.
Responding to complaints, the BEAC has extended the deadline for companies to comply by December 1, instead of the original September 1.
Oil companies refused to comment while negotiations were ongoing, as other multinationals did, such as telecommunications companies.
The IMF called on the central bank to increase its reserves in foreign currency, which is estimated at 2.7 months of import coverage at the end of last year, which is extremely low for a region with such an extensive amount of oil. The bank agreed to extend this period to five months by 2022, as IMF papers show, and the new rules are to force banks to keep their foreign currency in BEAC.
The IMF spokeswoman said that the revised rules did not introduce new foreign exchange controls or restrictions on capital flows. They are rather aimed at clarifying certain requirements. She also added that they are expected to help the region adhere to the “rules of anti-money laundering and combating the financing of terrorism.”
The information above cannot be considered as investment advice and past results do not indicate future performance.
Risk Warning: CFDs are high risk products.
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|ADM Investor Services||No API|
|Ally Invest||Does not support futures instruments|
|Alpaca||Only supports US Equities|
|Alpha Vantage||Does not support futures instruments|
|AMP||Broker with a huge number of platforms available including some with APIs|
|Arcade Trader||No API|
|AvaTrade||Does not support futures instruments|
|Backtrader||Not a data feed; otherwise looks cool but also looks like a one-man shop|
|Cannon Trading||Broker with a variety of platforms, some have API access such as TT|
|Charles Schwab||API does not support futures instruments|
|Daniels Trading||No API|
|Discount Trading||Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs|
|Edge Clear||Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs|
|Eroom||Now part of Dashprime. Offer a variety of APIs including CQG, TT, CBOE's Silexx, and others via FIX.|
|ETNA Trader||Only supports equities, options (including multi-legs), ETFs, Mutual Funds (Forex with cryptocurrencies coming soon)|
|ETrade||API seems robust but OAuth authorization needs to be refreshed via login once per 24 hours|
|Futures Online||No API|
|Gain Capital Futures||API available, based on .NET; unsure if they are open to retail clients|
|GFF Brokers||Broker with a large number of platforms including some with API access|
|High Ridge Futures||Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs|
|iBroker||API available; contact them for more info|
|IEX Cloud||Looks great but does not support futures instruments|
|Infinity Futures||JSON API available; contact them for more info|
|Interactive Brokers||Client Web API looks promising if clunky|
|Intrinio||Supports futures instruments but is expensive|
|Lightspeed||C++ API available|
|marketstack||API for equities available. Does not support futures instruments.|
|Medved Trader||Windows app with a streaming API to various data sources and brokers. See comment below about API beta access.|
|NinjaTrader||Does not support futures options|
|Norgate Data||Not a broker; supports futures data for $270/year|
|Oanda||Forex only; API last updated in 2018|
|Optimus Futures||Broker with a large number of available platforms including some with API access|
|Phillip Capital||Broker with a large number of available platforms including some with API access|
|polygon.io||Expensive but looks slick; does not support futures instruments|
|Quandl||API looks solid; $49/monthly for personal use, does not allow distributing or sharing data; not a broker|
|Quantconnect||Does not expose raw data|
|Quantopian||Does not expose raw data|
|Quantower||Software that connects to multiple brokers and data feeds; API to their software via C# interface|
|Saxo Markets||Broker with extensively documented API|
|Stage 5 Trading||API available through Trading Technologies|
|Straits Financial||Broker with several platforms available including some with APIs such as CQG, R|
|Sweet Futures||Broker with a large number of available platforms including some with API access|
|TastyWorks||There's an unofficial Python API|
|TenQuant.io||Does not support futures instruments|
|ThinkorSwim||Does not support futures instruments via the API|
|Tiingo||Free account tier but does not support futures instruments|
|TradePro||Broker with a number of platforms available; unclear if any are available with API access|
|Tradier||Free developer API account for delayed data but does not support futures instruments|
|TradeStation||Nice looking API docs and supports futures instruments; requires opening an account and a minimum balance of $100k and there’s no trial available|
|TradeFutures4Less||Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs|
|TradingTechnologies||API looks robust; pricing starts at $700/month|
|TradingView||Does not expose data API|
|Tradovate Technologies||API exists, documentation unknown; need to talk to their account team|
|Wedbush Futures||Broker with several platforms offered, a few of which have API access|
|WEX||.NET/COM only; pricing not disclosed on website|
|Xignite||Pricing not disclosed on website but they do support futures instruments|
|Yahoo Finance API||Available through RapidAPI or via direct access; but it’s discontinued and unreliable|
|Zaner||Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs|
|submitted by DarthFace1 to ontario [link] [comments]|
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The Central Bank of Nigeria has instructed banks to place a post-no-debit on the bank accounts of 38 companies.
The affected accounts belong to betting companies, bureau de change companies and some logistics companies, according to a report on Saturday.
The report stated that the companies were being accused of forex infractions, moving forex abroad without the required authorisation and "Economic sabotage."
In a September 4 memo signed by the Director of Banking Supervision, Bello Hassan, read, "You are hereby required to place the under listed accounts on post-no-debit with immediate effect and revert with the account names, numbers, currencies and balances of all accounts placed on PND.".
A post-no-debit means that all debit transactions, including ATMs and cheques, on the accounts have been blocked but money can be deposited into the accounts.
The apex bank said only the listed companies should be placed on PND adding that all related accounts be excluded.
Market hit 3080 on Tuesday.submitted by 2020sbear to u/2020sbear [link] [comments]
And has now completed the full squeeze pattern forecast around 2800.
Formed as a squeeze should. Parabolic into zig-zag spike outs. In the spike outs is the time to build positions and then add into the retrace after a drop signal.
Also had a few false starts and spike outs, which I've explained are to be expected in the strategy.
Now we're looking for the start of the first big drop to signal the run to 10,000 on the Dow.
SPX now trades marginally above the 1.61 expansion.
We see this before highs. It signalled the top in Feb. https://www.reddit.com/use2020sbeacomments/fwo5ut/it_shouldnt_work_but_over_the_last_100_years_this/
We'll have one last try at this;
During the fall I’m only going to be able to continue to provide weekly and daily trade plans if people pay for it. The reason for this is, for it to be viable for me, I’m going to have to hire people to do the leg work in managing this. I won’t have time to do it all myself. I’m charging you to cover the costs I’ll incur to give it to you.
I’ll setup a discord server with;
There are some people here to call me a scammer. I’d suggest you do not send me the $50 if you’ve not already gotten at least $50 of value out of what I’ve shared. I’m going to keep on doing the same thing. Personally, I think i should b charging over 100* what I am, but I suppose value is very subjective.
I’ll accept payments for this only via Paypal (Much easier if I end up refunding). To join this;
1 - Send $50 to PayPal email: [[email protected]](mailto:[email protected])
2 - Send payment transaction number via email to the same email address.
Links to join will be sent to you. Please allow for some time, but should usually be within a few hours.
The purpose of the payments is to cover costs of me paying someone who've I trained to post alerts and answer questions in time I am not available. At this point not enough people joined to cover this. I'll give it until Monday. If enough people have not joined I'll close this offer. Run it for the people there until the end of the month and then mass refund everyone and close it fully. I don't have time to do it all.
A double top is possible tomorrow, but the market has now reached the full extension of where a bull trap / short squeeze should complete. I'm selling large positions 3110.
If the market is not falling within 4 trading days from now it will annul my bearish trade plan. It would trigger a system stop loss, which would mean I'm entirely finished with shorts on the market. This is the last point at which it should work, and if it doesn't work this time - it has not worked. I was wrong and this method can not be used in modern day crashes (Or I misread the setups).
I've published already a lot of detailed trade plans and strategy blueprints for how to do this. If the market starts to fall I will be almost entirely silent here in the coming weeks. I only have time to talk whist it's not happening. If it's not falling next week I'll explain the reasons I've stopped following the plan and what I learned from it not working (For those interested in such things).
|submitted by watanuki17 to Forex [link] [comments]|
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What will you be doing with this PC? Be as specific as possible, and include specific games or programs you will be using.
What is your maximum budget before rebates/shipping/taxes?
When do you plan on building/buying the PC? Note: beyond a week or two from today means any build you receive will be out of date when you want to buy.
What, exactly, do you need included in the budget? (ToweOS/monitokeyboard/mouse/etc)
Which country (and state/province) will you be purchasing the parts in? If you're in US, do you have access to a Microcenter location?
If reusing any parts (including monitor(s)/keyboard/mouse/etc), what parts will you be reusing? Brands and models are appreciated.
Will you be overclocking? If yes, are you interested in overclocking right away, or down the line? CPU and/or GPU?
Are there any specific features or items you want/need in the build? (ex: SSD, large amount of storage or a RAID setup, CUDA or OpenCL support, etc)
Do you have any specific case preferences (Size like ITX/microATX/mid-towefull-tower, styles, colors, window or not, LED lighting, etc), or a particular color theme preference for the components?
Do you need a copy of Windows included in the budget? If you do need one included, do you have a preference?
submitted by alfafinancials5 to u/alfafinancials5 [link] [comments]
Triangles are one of the price action concepts of the chart. Triangles can reveal us many things about the market scenario, momentum shifts and the balance between bulls and bears. Triangles are made by uniting two trend lines where one is resistance and another is a bullish or bearish line. Every trend line comprises two or more than two prices thus, upper and lower trend lines necessitate at least two or more points in price.There are three diverse types of triangles and which are explained below
In this triangle, the upper trend line is leaning downward, and the lower trend line is inclined upward at the same angle. The connection between these two trend lines is called “Apex” whereas the base is away from the first high point and first low point.
This pattern is bullish in an uptrend as it shows the high possibility of the continuation of the current uptrend. In reverse, this pattern indicates a high possibility of continuation of the downtrend too. The potential price fluctuation can be calculated by the tallness of the base. This is assumed that the breakout of symmetrical triangles usually happens in the direction of the trend. The probability of success is, therefore, greater when we think of symmetrical triangles as being a continuation pattern of forex prices or derivatives prices.
In this triangle, the upper trend line must be horizontal, and the lower trend line should be upward inclined. The horizontal upper trend line of such pattern specifies the resistance which is stopping the price from going further up but the upward slanting lower trend line voices us about the occurrence of an uptrend.
These kind of patterns are bullish and normally found in an up-trending market. It has an apex point and a base. The minimum price movement is equal to the height of the base from the breakout point same as similar triangle patterns.
In this triangle, the upper trend line should be downward tending and lower trend line must be horizontal. The horizontal lower trend line of such pattern stipulates a support line and this support line is preventing the price from going more down. However, the upward inclined lower trend line displays the manifestation of a downtrend.
These triangle patterns are bearish in nature and typically originate in a downward market. It also has an apex and a base point. The smallest price fluctuation is equal to the height of the base from the breakout point.Triangle breaks out patterns are very popular among most of the trader regardless of the forex, commodity or stock markets. Their best use may lead to winning the trade however their confirmation is required before placing the orders.
Alfa Financials offers a full suite of the best trading platform for beginners and professional traders. To view our customizable trader platforms, we are the trusted and experienced regulated online forex brokers for Forex, Futures, CFD and Currency Trading.
submitted by DualOptions to u/DualOptions [link] [comments]
Pros of Trading Forex With an Overseas Account
The evolution of the internet has benefited traders with easy access to the options trading platform in any corner of the world. With the forces of globalization garnering pace, the forex markets also have benefited from the impending storm. While it is subjective to reason out whether the FOREX markets are suited for you or not, the core theme of this article is to ascertain the advantages of trading in the markets with an overseas account.Before deliberating on it, one may wonder why it is beneficial to open an overseas account given the numerous challenges associated with it. The advantages are provided below.
SPECIFIC INCENTIVES IN SOME REGIONSThe first reason to open an overseas account is due to the underlying incentives in some regions which may be unavailable in other regions. For example, in the USA, the federal agency associated with the securities market-Securities and Exchange Commission (SEC), prohibits traders to hedge the positions from a similar account. Hedging implies opening two positions on the same currency pair but in two opposite directions. SEC opposes this feature with a simple logic that hedged positions embody a higher level of risk for the clients. Therefore, keeping the client's interests in mind, the facility of hedging is unavailable. However, on the other hand, there are numerous hedging trading strategies that are beneficial to the options trader which are often overlooked by the traders in the USA. To corroborate the example further, suppose you use technical analysis to determine the trading signals on different time-frames. Hence, while one may give a buy signal in a 5-minute chart, a 1-hour chart can provide a sell signal. Since time-frames are spread, it is inevitable that the same currency pair in two different time-frames can display buy and sell signals simultaneously. A trader based in the USA can miss out on these opportune moments. A smart trader may open two distinct accounts but this is time-consuming and wastage of resources. To overcome this glaring issue, a trader can open an overseas account and take advantage in other markets where hedging facility is allowed i.e. a broker not based in the USA but is regulated by an apex institution in that jurisdiction.
DENOMINATED IN DIFFERENT CURRENCYA trader trading in an overseas account has the opportunity to have the trading account denominated in a different currency. For instance, if your analysis proves that during the medium to long-term period, the Australian Dollar (AUD) is predicted to appreciate against the US Dollar (USD), then you should search for an AUD-denominated account. The way forward will be to look for a broker who would offer this facility and open an AUD-denominated account. Thereafter, along with generating profits upon the right prediction of the markets, you will also generate higher profits due to the appreciation of the corresponding currency pair i.e. AUDUSD. This strategy is widely used by traders who open an overseas account in different parts of the world. However, it is recommended to use this analysis only after careful scrutiny of the currency pair that the resident nation will observe.
OVERCOMING FIFO RULESIn most nations, traders have to respect the FIFO (First in First out) rule. This rule implies that the first position that was opened should be the first position to be closed on the same currency pair in currency options trading. While many may argue that it does not inflict a significant impact on the overall performance, it does, however, impact the psychological level of the trader. Settling a trade in an unfavorable territory to release some margins can be avoided by squaring a trade in positive territory opened at a later phase from a better level. However, if the account is following the laws of the FIFO system, this does not apply. While your jurisdiction may follow the FIFO system, other nations do follow the LIFO system whereby the last opened positions can be settled first to allow the initial opened positions to run their course.The above factors highlight the various virtues of options trading FOREX with an overseas account. Although these factors exemplify the reasons against trading in your domestic account, it is recommended to explore the offshore opportunities prudently before realizing the final decision.
Futures and Forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security or life style. Our custom developed Forex Apex Point Indicator. Feel free to use this indicator together with our other technical indicators (oscillators, momentum) or price action methods to maximize your trading accuracy. Free Download. Forex Apex Point Indicator. The EUR/GBP 15 minute chart below displays the Forex Apex Point Indicator in action. WE ARE APEX FX TRADE. Apex FX Trade is a United Kingdom registered legal international investment company. The company was created by a group of qualified experts, professional bankers, traders and analysts who specialized in stock, bond, futures, currencies, gold, silver and oil trading, with having more than ten years of extensive practical experiences of combined personal skills, knowledge ... Apex Forex Global consists of professional traders with years of solid experience in the financial markets. We scan the markets daily for the most profitable trades. We are established to help as many across the globe, Africa especially, make real wealth from the world's largest financial market. Apex Forex Trade offers a unique opportunity for everyone who wants to make money on investing in the progressive currency Bitcoin. Our main activity is the mining of the cryptocurrency, through the use of special computers – miners and algorithms used to solve complex equations.
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Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Special Apex Investing Institute webinar put on for Ninja Trader Education .....RISK DISCLOSURE: Futures and Forex trading contains substantial risk and is not for every investor. An investor ... XAUUSD Analysis Chart Apex Investing is the Strategy & Application educational partner with the Nadex Exchange. Apex is made up of traders committed to helping traders learn how t... Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube.