LONDON, June 29, 2018 (GLOBE NEWSWIRE) -- Although financial markets usually favour stability, foreign exchange traders do not. The volatility that returned to the forex market in the first quarter of 2018, therefore, came as a relief to brokers that were once again able to identify profitable prospects for their clients.
The growing threat of a global trade war and geopolitical turbulence has ensured the uncertainty that forex traders crave has been in welcome supply of late, but making the most of this climate still requires expert industry knowledge. The 2018 World Finance Forex Awards celebrate the industry’s most prescient brokers – those that view uncertainty in the market as an opportunity, even while recognising the risks involved.
One of the ways that forex trading partners can stand out from their competitors is through the adoption of technology. Artificial intelligence tools are increasingly getting the better of human traders but manual trading won’t be going away anytime soon. Blockchain is another avenue that brokers are exploring as it promises faster, more transparent trading.
If foreign exchange brokers are to make the most of innovative, digital technologies, however, they’ll need to keep one eye on regulatory developments. While MiFID II has tightened trading rules in the European Union, across the Atlantic, US President Donald Trump is attempting to roll back the Dodd-Frank reforms that came into place after the 2008 financial crisis.
With different markets playing by different rules and stability seemingly returning for the latter part of the year, forex brokers are facing a wealth of challenges in their pursuit of the most profitable trades. The good news is, the winners of this year’s World Finance Forex Awards have shown they are up to the task.
To see the full list of this year’s winners, pick up the latest issue of World Finance, available in print, on tablet and online now.
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