Coronavirus Impact, HitBTC Scammers Jailed: Editor's Pick

In a week centered around the coronavirus, here are the top stories from the Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term, fintech, and crypto spheres in our best of the week segment.

How Has Coronavirus Affected the Forex Markets?

Legendary trader and analyst Marshall Gittler breaks down exactly how coronavirus has affected the forex markets in a Finance Magnates exclusive.

Marshall pulls no punches in telling us where we should be looking in these volatile times. Read how coronavirus has affected the forex markets here.

Coronavirus vs. The Fed: How Effective Can QE & Rate Cuts Be?

Staying with the coronavirus, as central banks across the world introduced stimulus packages, Finance Magnates analyzed just how effective the actions of the Fed and others can really be in the face of the coronavirus. Read the analysis here.

HitBTC Scammers Get Two Years Jail Time

The US justice system passed a 24 months prison sentence on two Canadian nationals Karanjit Singh Khatkar and Jagroop Singh Khatkar, who were arrested last year and charged with six counts of wire fraud and for conspiring to commit money laundering. They duped one Oregon resident of more than 23.2 bitcoins by cloning the Twitter handle of HitBTC, a Hong Kong-based crypto exchange.

Read more on the HitBTC Scammers sentencing here.

Italian Bank Launches Bitcoin Trading to its 1.2 Million Customers

Banco Sella is offering the digital currency trading services on its Hype platform, and itself is acting as an intermediary to mitigate any risks associated with the crypto exchange. Hype already offers trading facilities with financial instruments, including derivatives and contract-for-difference (CFD).

Read more about the Banco Sella Bitcoin trading launch here.

Brokers Amend Trading Conditions Amid Corona-Rattled Markets

As the corona-fueled Volatility Volatility In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders In finance, volatility refers to the amount of change in the rate of a financial instrument, such as commodities, currencies, stocks, over a given time period. Essentially, volatility describes the nature of an instrument’s fluctuation; a highly volatile security equates to large fluctuations in price, and a low volatile security equates to timid fluctuations in price. Volatility is an important statistical indicator used by financial traders to assist them in developing trading systems. Traders Read this Term made brokers hold their breath, the tightening of the trading conditions was a mandatory step to help ‎protect clients and brokers.

Finance Magnates looked at exactly what changes had been made and by what broker. Find out the updated and amended broker trading conditions here.