With a Healthy Holiday Spirit, easy-forex Dishes up a 61-Course Feast
by
George Tchetvertakov
Easy-Forex has almost doubled its product range for Australian clients as the broker looks to adjust to changing client preferences and tectonic shifts in the global geo-political arena.
easy-Forex Australia, the Aussie-based unit of parent company Easy-Forex, announced today that the company is sharply expanding its product lineup from 79 to 140 products, specifically heavy on Russian ruble FX pairs. The company is “dishing up” the expansion to coincide with various national holidays this week, with a quirky title to their press-release: “Baklava, malva, goulash and vodka." All in the holiday spirit.
Forex Magnates previously reported on easy-forex's plans to expand its range of precious metals contracts as well as FX pairs in 2014, as the CFD provider outlined its plans. Today, at least a portion of those plans were officially announced and initiated for clients with more on the horizon, as the company "continuously looks to extend its product range."
The full list of instruments added is shown below:
The 61 added instruments mean that easy-forex Australia will now offer 96 currency pairs, 22 metals contracts, 16 equity index contracts, 13 commodity contracts and 26 vanilla option instruments to their Australian client base.
“The comprehensive offering allows traders to take advantage of market action across the globe with access to a more diverse range of products and a greater potential to maximise their earnings,” says easy-forex Australia. The company’s Managing Director, Robert Francis added, “These added pairs will allow our traders to maximise the forex trading experience to its full potential. We expect pairings with the US dollar, the euro and the yuan to be the most popular and gold the metal of choice for ruble traders."
Takeaways
The most significant element of today’s announced expansion is the addition of 18 Russian ruble pairs, given the ongoing media focus on Russia and its currency due to the ongoing Ukraine conflict sparked earlier this year and the broader ‘frosty’ relations between the U.S and Russia that has led to economic sanctions and threats of trade wars from both countries.
Russian ruble volatility has further been exacerbated by the parallel spike in commodity and metals price uncertainty (and volatility). Markets such as oil, gas and metals have also been affected by the aforementioned factors. Raw materials including oil, gas and metals represent approximately 30% of Russia's gross GDP and 70% of total exports. If prices in these markets move suddenly, Russia's economy does likewise.
The combined effects has left the Russian ruble trading at multi-year lows of 38.77 at the time of writing. The peak in USD/RUB in 2008 was around $36 backed by extensive USD repatriation demand due to Liquidity shortages in international money markets.
The Russian ruble has been declining on a broad basis against all other currencies since June 2014, and with further instability on the horizon due to no resolution in either Ukraine, the Middle East or in US-Russia relations, ruble volatility is likely to have plenty more steam.
With RUB crosses back on speculator watchlists due to its “profit potential,” easy-forex is delivering an extensive set of instruments that suit current market conditions and trends. As far as easy-forex traders are concerned - dinner is served.
easy-Forex Australia, the Aussie-based unit of parent company Easy-Forex, announced today that the company is sharply expanding its product lineup from 79 to 140 products, specifically heavy on Russian ruble FX pairs. The company is “dishing up” the expansion to coincide with various national holidays this week, with a quirky title to their press-release: “Baklava, malva, goulash and vodka." All in the holiday spirit.
Forex Magnates previously reported on easy-forex's plans to expand its range of precious metals contracts as well as FX pairs in 2014, as the CFD provider outlined its plans. Today, at least a portion of those plans were officially announced and initiated for clients with more on the horizon, as the company "continuously looks to extend its product range."
The full list of instruments added is shown below:
The 61 added instruments mean that easy-forex Australia will now offer 96 currency pairs, 22 metals contracts, 16 equity index contracts, 13 commodity contracts and 26 vanilla option instruments to their Australian client base.
“The comprehensive offering allows traders to take advantage of market action across the globe with access to a more diverse range of products and a greater potential to maximise their earnings,” says easy-forex Australia. The company’s Managing Director, Robert Francis added, “These added pairs will allow our traders to maximise the forex trading experience to its full potential. We expect pairings with the US dollar, the euro and the yuan to be the most popular and gold the metal of choice for ruble traders."
Takeaways
The most significant element of today’s announced expansion is the addition of 18 Russian ruble pairs, given the ongoing media focus on Russia and its currency due to the ongoing Ukraine conflict sparked earlier this year and the broader ‘frosty’ relations between the U.S and Russia that has led to economic sanctions and threats of trade wars from both countries.
Russian ruble volatility has further been exacerbated by the parallel spike in commodity and metals price uncertainty (and volatility). Markets such as oil, gas and metals have also been affected by the aforementioned factors. Raw materials including oil, gas and metals represent approximately 30% of Russia's gross GDP and 70% of total exports. If prices in these markets move suddenly, Russia's economy does likewise.
The combined effects has left the Russian ruble trading at multi-year lows of 38.77 at the time of writing. The peak in USD/RUB in 2008 was around $36 backed by extensive USD repatriation demand due to Liquidity shortages in international money markets.
The Russian ruble has been declining on a broad basis against all other currencies since June 2014, and with further instability on the horizon due to no resolution in either Ukraine, the Middle East or in US-Russia relations, ruble volatility is likely to have plenty more steam.
With RUB crosses back on speculator watchlists due to its “profit potential,” easy-forex is delivering an extensive set of instruments that suit current market conditions and trends. As far as easy-forex traders are concerned - dinner is served.
Interactive Brokers Expands Offerings with Daily Options on French Stocks
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
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#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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Looking to expand your network in #Africa?
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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