Bangalore (Karnataka) [India], May 21: In the present ever-evolving financial markets, AstraMarket has shown up as a milestone of innovation and success. This dynamic forex trading platform, founded in the vibrant Castries, the capital city of Saint Lucia, in 2016, has recently announced a groundbreaking achievement: a trading volume that soared to an impressive $11.6 million by the end of December 2023. This remarkable milestone is a testament to the trust and confidence of over 142,000 active clients who have chosen AstraMarket as their gateway to the forex market.
A Platform Built for Success
AstraMarket has established itself as a leader in the forex trading space by offering a robust and reliable platform that caters to the diverse needs of its clients. With a focus on user experience, AstraMarket provides a seamless trading environment that integrates advanced technology to ensure traders can access the best tools in the market.
Technology at the Forefront
The platform’s use of real-time analysis and AI-powered insights positions its clients to capitalise on market movements effectively. AstraMarket’s dedication to technological innovation is evident in its features that enable traders to stay ahead of the curve. Competitive spreads, transparent fee structures, and multilingual customer support available 24/7 ensure traders experience seamless fund management.
AstraMarket’s success extends beyond numbers—it lies in its commitment to empowering traders. The platform’s user-friendly interface caters to beginners and seasoned traders, making forex trading accessible. By simplifying complex processes, AstraMarket allows traders to focus on what matters most: executing successful trades.
MetaTrader 5: The Cutting-Edge Trading Experience
AstraMarket has revolutionised the trading experience by introducing the MetaTrader 5 (MT5) platform1. MT5 stands out with its user-friendly interface and powerful capabilities, including:
Advanced Charting and Analysis: With 21 timeframes, 38 built-in indicators, and 44 graphical objects, MT5 allows traders to perform comprehensive market analysis.
Multiple Asset Classes: Traders can diversify their portfolios by accessing various asset classes, such as forex, stocks, commodities, indices, and cryptocurrencies, all within a single platform.
Algorithmic Trading: MT5 supports algorithmic trading with its Expert Advisors (EAs), enabling traders to automate their strategies for precision and efficiency.
Market Depth and Time & Sales: Real-time data on market depth and trade history provide valuable insights into market liquidity and order flow.
Hedging and Netting: MT5 offers flexibility in managing positions, catering to various trading styles and risk management preferences.
Social Trading: Connect, Share, and Grow
AstraMarket enhances the trading journey with its integrated social trading feature, allowing traders to:
Follow Expert Traders: Discover and follow the trades of successful traders.
Copy Trading: Automatically replicate the trades of top-performing investors, adapting their strategies to your trading style.
End Note
AstraMarket’s impressive trading volume and the ever-increasing number of satisfied clients indicate its leadership in the forex trading sector. The platform’s comprehensive approach, encompassing cutting-edge technology, social trading, and a client-focused interface, ensures that every trader has the necessary tools and support to succeed.
180 currencies are recognized as legal tender around the world today. Foreign exchange is the process of changing one currency into another for various reasons, usually for commerce, trading, or tourism. It is one of the most actively traded markets in the world, with an average daily trading volume of $6.6 trillion.
The vast majority of currency conversion is undertaken to earn a profit. A foreign exchange company also known as a foreign exchange broker or simply forex broker is a company that offers currency exchange and international payments to private individuals and companies.
The foreign exchange market is a global decentralized or over-the-counter market for the trading of currencies. The conversion rates for almost all currencies are constantly floating as they are driven by the supply and demand market forces.
Factors Affecting Currency Value
The value of any particular currency is determined by market forces related to trade, investment, tourism, and geopolitical risk.
Foreign exchange is handled globally between banks and all transactions fall under the auspice of the Bank for International Settlements (BIS).
The factors include various economic, political, and even psychological conditions.
The economic factors include a government’s economic policies, trade balances, inflation, and economic growth outlook.
Another important factor of demand occurs when a foreign company seeks to do business with another in a specific country.
Citigroup Incorporation is also known as Citi is a financial service corporation started in 1998. It is an American-based multinational company focusing on financial services and is headquartered in New York. Citigroup is given the tag of being the third largest banking institution group in the US and also forms an integral part of the big four banking institutions of the US.
The formation of Citigroup Incorporation was quite dramatic with the merger of two big firms named Citicorp and Travelers Group. Citicorp was a banking giant whereas Travelers Group was a big financial corporation. Citigroup mainly focuses on providing the best financial services to its clients.
The services given by Citigroup, in general, include facilities like providing financial services to different people falling in the organization of government, corporate, institution, etc. They also strive to provide simple yet effective financial solutions to their clients.
Pros of Citigroup Inc forex:
Includes more than one brand for its clients to select from for forex trading.
The platform allows international trading of foreign currency with its wide working area.
Allows forex trading at $0 commission to its clients.
2. HSBC Holdings Plc
Founded: 1865
Headquarters: London
HSBC website
HSBC is acknowledged as the largest bank in Europe initiated in the year 1865. It is a multinational universal bank along with a financial holding British company. It is headquartered in London. The letters HSBC belong to the initials of its origin by the Hongkong and Shanghai Banking Corporation.
HSBC is one of the biggest banking service-providing companies with more than 64 countries covered and around 40 million customers served. The company mainly focuses on providing banking and financial services along with inventing new methods to make banking easy. It also allows different financial services like trading, private and investment banking, capital market, etc.
Pros of HSBC Holdings Plc forex:
Direct access to all facilities is provided rather than the involvement of any third-party service providers.
The process is made transparent and clear by the platform for easy use.
Can be accessed from multiple regions.
3. State Street Corporation
Founded: 1792
Headquarters: Boston
State Street Corporation website
State Street Corporation is counted among the oldest operating banking companies in the US. It was initiated in the year 1792 and is headquartered in Boston. State Street Corporation is counted as a financial service provider and a bank holding company.
State Street Corporation is ranked 15th among the largest banks in the United States. The firm is responsible for providing services like cash management, services revolving around international exchanges, financial assets management, and also provides investment advisory services.
Pros of State Street Corporation forex:
It provides fully automatic service that is 100% transparent for its customers.
The service is available in almost all major regions across the world.
Initiated in the year 1869, Deutsche Bank AG is a Germany-based financial service providing firm. It has its headquarters located in Frankfurt, Germany. The firm mainly works in the field of providing investment banking services along with other financial services to its clients worldwide.
Deutsche Bank AG is considered the largest financial service-providing firm in Germany and is also included in the list of largest banks in the world. The firm focuses on four different aspects of banking services including the investment bank, corporate bank, private bank, and asset management.
The firm helps government and private organizations along with small and medium-sized businesses by providing them with the needed services in the banking field to provide ethical and sustainable services to all.
Pros of Deutsche Bank AG forex:
The forex process is completely seamless and transparent with quick actions.
Provides competitive rates on the foreign exchange currency.
Provides swift transfer of funds through its platform.
5. JPMorgan Chase & Co.
Founded: 2000
Headquarters: New York City
JPMorgan Chase & Co. website
Initiated in the year 2000, JPMorgan Chase & Co. is the largest multi-financial bank in the world at the present year. JPMorgan Chase & Co. is an America-based multinational company focused on providing services related to investment banking services and financial banking services with its headquarters located in New York City.
JPMorgan Chase & Co. forms an integral part of the large four banks of America and is currently in the fifth position of the largest banks in the world for its assets. The firm mainly focuses on providing services like asset management, investment management, private equity, etc. The services provided by them are mainly targeted at individuals and businesses.
Pros of JPMorgan Chase & Co. Forex:
Services are provided worldwide.
Has different customizable options for easy understanding of the tools and news.
Provides access to the largest committee of currency pairs.
6. Barclays PLC
Founded: 1960
Headquarters: London
Barclays PLC website
Barclays PLC was introduced in the year 1960 as the universal multinational bank based in Germany. It has its headquarters located in London and is known to provide services worldwide.
Barclays is operated as two different units termed Barclays UK and Barclays international. The firm mainly focuses on providing services like retail banking, credit services, investment banking, wealth management, etc.
Pros of Barclays PLC forex:
Provides detailed market insight to their clients.
Has an excellent customer support system.
Includes different tools for foreign exchange risk management.
7. XTX Markets Limited
Founded: 2015
Headquarters: London
XTX Markets Limited website
XTX Markets Limited was introduced in 2015 as an algorithmic trading company with its headquarters located in London. XTX Markets Limited is a non-banking firm that still comes under the list of top liquidity providers for the foreign exchange market.
The services provided by XTX Markets Limited mainly focus on equities, foreign exchange, commodities, fixed income, derivatives, etc.
Pros of XTX Markets Limited forex:
The platform is multilingual and supports 26+ languages.
Provides fair and efficient services.
The platform is counted amongst the top 3 forex liquidity providers.
8. Goldman Sachs Group, Inc.
Founded: 1869
Headquarters: New York City
Goldman Sachs Group, Inc. website
Founded in 1869, Goldman Sachs is an America-based investment and financial service providing the firm with its headquarters located in New York City. The firm is quite famous for its investment in budding startups.
Goldman Sachs Group, Inc. comes second in the list of investment banks across the world due to its revenue. And is also included in the list of Fortune 500. The firm mainly provides services like asset management, commercial banking, investment banking, etc.
Pros of Goldman Sachs Group, Inc. forex:
Has a range of tools that helps its clients with a better estimation of trading platforms.
Has a demo account for the clients to work and experience the service of Goldman Sachs to try before.
They serve worldwide.
Currency composition of world FX
9. Standard Chartered Group
Founded: 1853
Headquarters: London
Standard Chartered Group website
Standard Chartered Group was established in 1853 with its headquarters in London. It is a universal bank known to operate a large chain of units. Standard Chartered is a Britain-based multinational company providing financial and investment services.
Standard Chartered Group is known to own a network of more than 1200 branches and outlets in different parts of the world. They cover more than 70+ countries. The firm mainly works in the field of providing services to corporate and institutional services only.
Pros of Standard Chartered Group forex:
They provide excellent guidance to their clients for a better understanding of the terms and strategies.
The platform is widely spread across the globe and can give access to multiple currencies.
Their help support is quite reliable.
10. UBS AG
Founded: 1998
Headquarters: Zurich
UBS AG website
Introduced in 1998, UBS AG is the largest Swiss banking instruction, also co-headquartered in Zurich and Basel. It is a multinational and Switzerland-based financial service providing company also focusing on investment banking.
UBS AG is the third largest bank in Europe. It focuses on providing services to private and government organizations. The services provided by UBS AG fall in the category of global wealth management, personal and corporate banking, investment banking, etc.
Pros of UBS AG forex:
They provide a worldwide network with a global franchising platform to sort out their client’s needs.
The platform keeps on updating from time to time to meet up the demands of the real world.
They provide excellent customer support along with the required guide to the platform.
11. BNP Paribas Group
Founded: 2000
Headquarters: France
BNP Paribas Group website
Founded in 2000, BNP Paribas Group was formed by the merger of two different firms named National Bank of Paris and Paribas. The initials BNP came from the National Bank of Paris and Paribas came from other parts of the merger. It is a French company with its headquarters in France.
BNP Paribas is counted among the top 10 largest banks in the world and is placed second as the largest bank group in Europe. It provides services focused on the category of commercial, personal banking, and services. It also provides services for corporate and institutional banking. It also works to provide investment and financial services.
Allows access to more than 130 currencies for the FX.
Provides optimal tools to make the process more efficient.
12. Royal Bank of Scotland Plc
Founded: 1724
Headquarters: Edinburgh
Royal Bank of Scotland Plc website
Introduced in 1724, Royal Bank of Scotland Plc is a major player in the field of the retail and commercial banking sector in Scotland. Its headquarters are in Edinburgh. Royal Bank owns more than 700 branches across the country of Scotland and a few branches spread out in the major towns and cities covering England and Wales.
Royal Bank of Scotland Plc works to provide services to trusts, charities, private companies, etc. Its services include online banking, investments, saving accounts, fund transfer, etc. The firm operates by the means of a large networked server including different branches, outlets, online communication, etc.
Pros of Royal Bank of Scotland Plc forex:
They provide services concerning more than 60+ currencies from across the world.
Customized solutions are provided by them to fulfill the needs of their clients.
Provides help with advanced tools to manage the account and get more insight to risk management terms.
13. Saxo Bank
Founded: 1992
Headquarters: Denmark
Saxo Bank website
Introduced as a brokerage firm in 1992, now called Saxo Bank is a Danish firm giving out services like investment and online trading. It is headquartered in Denmark and the firm operates as an online broker platform.
Saxo Bank is in connection with more than 180 countries and provides services like investment banking solutions, online platforms for trading and investment, etc. The firm is widely spread in different parts of the world.
Pros of Saxo Bank forex:
Saxo Bank is acknowledged as the best forex broker and has an online trading platform from multiple sources.
Has great tools to help their customers get their needs completed.
Multiple currencies are supported by the platform.
Conclusion
The word “Forex” stands for the combination of two words foreign exchange. Forex means changing the currency of one country into another. This method requires different terms and rules to follow than the normal currency exchange. Foreign Exchange of currencies is done because of many reasons but not many platforms are trusted for the process. The above article contains a list of foreign exchange companies with their features.
FAQs
What are the top 10 currencies in the world?
The top 10 currencies in the world are Kuwaiti Dinar, Bahrain Dinar, Oman Riyal, Jordan Dinar, Pound Sterling, Cayman Island Dollar, European Euro, Swiss Franc, US Dollar, and Canadian Dollar.
What is the foreign exchange market?
A foreign exchange market is a trading place where the currencies of multiple countries are bought and sold at different rates just like the stock market.
Which currency has the lowest value?
The least valued currency can keep changing concerning changes in currency value. However, at present time Iranian Rial is considered the lowest valued currency.
What is forex earning?
Forex earning means the profit earned by selling goods and products in the global marketplace. It can also mean the simple exchange of only currencies in the global market as per the demand and supply rule.
Entrepreneurs are always looking for fresh ways to make money. Whether it’s meant as a side hustle, a means of long-term investment, or even a way to fund a business venture, there’s always some sort of financial effort underway. And as we covered in Weird and Creative Ways With Which People Actually Made Money there are some bizarre ideas that come up. A true entrepreneur, after all, can see an opportunity to make money in just about anything!
Often enough though, entrepreneurs will turn specifically to investment markets. These are spaces in which money can be made to grow, often without too much effort, and they can thus be appealing to people who might otherwise be busy starting or running businesses. A few years ago, Forbes took a look at some of the investment opportunities more entrepreneurs were exploring, including gold, real estate, and even startup funding. One that they left out though was forex trading.
The forex market is a world unto itself, and one that is different from any other investment opportunity, despite some fundamental similarities with stock market trading. Given that it’s also the world’s busiest investment market though, we have to assume it’s one that some entrepreneurs give some thought to as they look for ways to grow their wealth. So, as something of an introduction that goes beyond the basic introductory stuff (which you can read about anywhere), we thought we’d highlight a few weird things to know about forex.
Forex is traded in pairs, such that you’re always buying or selling one currency against another. So, for example, many will trade the EUR/USD pair, buying or selling the Euro at its value against the U.S. dollar. One thing you’ll quickly learn if you start to explore the forex market is that some of these pairs are traded more than others. And one bizarre feature of forex is that the pairs unofficially designated as “major” — the most heavily-traded pairs on the market — universally feature the U.S. dollar. This may not be surprising when you think about it, given that the USD is still viewed as the world’s reserve currency. But it can be a bit strange to jump into a global market of currencies and see USD seemingly everywhere.
Forex Dwarfs The New York Stock Exchange
Trading in the Forex Market
When you think about the different investing markets in the world, it’s likely stock exchanges that come to the forefront of your mind. And when you think of those, it’s probably the big ones that you think of first: the Shanghai Stock Exchange, the Nasdaq, the New York Stock Exchange, etc. These indeed represent some of the largest exchanges in the world by market cap, with the NYSE leading the way according to World Atlas. But the forex market dwarfs even the NYSE. It is — by far — the lagers trading market in the world. This can make it somewhat intimidating, but most of all it actually makes for favorable trading conditions due to high liquidity.
3 – Assets Move In “Pips” Not Units
In forex, you can’t really express currency price changes in terms of units, because each pair involves two entirely different currencies. Furthermore, most of the movement on a day-to-day basis is marginal, such that it involves only fractions of units anyway. This is where little things called pips come into play. As described in a write-up by FXCM, a pip is a measurement expressed in decimal points that is the “smallest tradable value” of a currency pair. If EUR/USD is trading at 1.1573, a pip would be a single digit at the fourth decimal point (or 0.0001). It may sound like random terminology, but it actually comes in quite handy in that it allows forex traders to measure changes in pips.
If you have much awareness of the blockchain, you probably know that it’s the engine that drives cryptocurrency. Well, despite the fact that cryptocurrency is not included in the trading in the forex markets, the blockchain sort of is. It isn’t exactly the norm yet, but more and more forex brokers and financial institutions are starting to experiment with running transactions through the blockchain. This shouldn’t make a huge functional difference to most traders, though it may marginally improve security and efficiency. Still, it’s worth knowing that blockchain tech may be involved so that you’re not surprised by it.
It’s a different kind of market, but one you can actually get the hang of pretty quickly. And for entrepreneurs, it’s one more avenue through which some side income might be generated.
Forex trading is the process of speculating on currency prices to potentially make a profit. Currencies are traded in pairs, so by exchanging one currency for another, a trader is speculating on whether one currency will rise or fall in value against the other.
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by GNEISS.
Global Network Encryption Investment Security Services (GNEISS) is one of the most Trustable Forex Trading Technology Solution Providers. GNEISS is the First Decentralized P2P free marketplace built on top of the Bitcoin and Ethereum Blockchains. It aims to be the most advanced Fintech security service while providing the public alternatives to existing government registration and banking services.
Founded by Michael Morton and Hunter Enoch in 2016, Global Network Encryption Investment Security Services (GNEISS) will provide a trustless Peer to Peer system where everyone has equal access to all free-market and government registry functions – Only requirement is an internet connection.
GNEISS – Company Highlights
Organization Name
Global Network Encryption Investment Security Service Inc (GNEISS)
Accepted in Venture Summit, West 2019 (Only 3 blockchain companies could present)
Clients
1,180+ users and growing
Website
gneiss.io
StartupTalky interviewed Michael Morton (founder & CEO of GNEISS) to know the Journey of GNEISS by shedding some light on GNEISS vision, work culture, growth, business model, Forex trading technology services, USP & more….
1. Tell us about the inception of GNEISS & How has the journey been for the company so far?
GNEISS was founded by Michael Morton and Hunter Enoch in December 2016 after over 1.5+ years of designing and coding. Since it’s initial Alpha launch, GNEISS has already launched it’s Beta and finished the stage 1 of the project by the end of 2020. To get to finish stage 1 with no big investors was no easy chore but with the help of One Brick Tech and several other companies we made the impossible possible.
2. How do you integrate the 2 biggest block chains: Bitcoin and Ethereum? How did it help you to provide best-in-class Forex trading technology services?
GNEISS integrates the two biggest blockchains: Bitcoin and Ethereum. Bitcoin is the crypto-gold standard for trading, while Ethereum powers and logs every crypto-asset and smart contract function on the GNEISS network. Using the biggest and most technologically advanced blockchains gives us a huge edge over other Forex FinTech companies running their own private blockchains or even running everything with no blockchain at all with a centralized server.
GNEISS Logo
3. Shed some light on your Forex trading technology services? What kind of responses have you received from customers over the years
GNEISS started out with giving people the power to easily create their own ERC-20 token for trading but that was just the Alpha. Since then we have incorporated the most advanced smart contracts in the industry designed to work with a ERC-20 token to allow users to mint/burn coins, add transaction taxes, add interest rates, and even securitize that ERC-20 token asset with other crypto.
Using the secure feature where a user could store BTC, ETH, or any other ERC-20 token gives users the ease of mind knowing that the value is there regardless and if the collateral’s value ever drops below the agreed contract support level then the collateral is instantly liquidated and sent proportionally to those who owned the now liquidated coin. Having secured contracts also makes GNEISS the first “Trustless Economy” which economists have been trying to accomplish for decades by decentralizing banking power to the people rather than just a few thousand banks.
Customers who have tried our platform all say that it’s pretty cool. Some wonder how they will use the new found technology but everybody who has seen it or tried it thinks it could be the next big thing. So far we have 265+ accounts which is growing each day. We hope and aim to be the leader in this blockchain FinTech industry by creating a whole new type of economy which will open the door to never before seen business models
4. What is the work culture at Global Network Encryption Investment Security Services? How do you create a sense of belongingness?
The work culture from day one has been the typical future billion dollar startup founded out of a home garage only we didn’t have a garage. Most meetings are over the phone or through certain text platforms like Slack or Discord.
The times which we have face to face meetings are usually at some restaurant or bar. By not having an office we save a bunch of money that we can reinvest elsewhere to build up the product. Once we are trading over a $1 million dollars a week we’ll look at getting a decent sized office in the British Virgin Islands and Charlotte, North Carolina. Everybody in the company has a great sense of belonging since they know their helping change the world for the better. While supporting American values of freedom, free markets, and fair business.
The mission of GNEISS is to decentralize banking completely by letting everyone have their own banking ledger and using GNEISS as their preferred decentralized P2P free market platform.
6. What differentiates GNEISS from other Forex Trading Technology Solution providers in the industry?
By installing and running a GNEISS node any user can run the app outside of their web browser securely through blockchain tech and have it act as a 21st century military encrypted Bloomberg terminal. Thus making GNEISS easily the most secure platform on the market right now since most don’t even use blockchain tech.
GNEISS is decentralized by 300 Spartan nodes that run the platform along with all the other nodes that double check and verify the GNEISS blockchain. Spartan nodes are chosen from those running basic nodes by having a high enough credit score, Tier 2 verification, and random chance in GNEISS’s Proof of Trust blockchain model. To upgrade the system ⅔’s of the Spartan Nodes need to vote in favor.
8. What does the future hold for GNEISS? What are the Milestones that you seek to achieve in the years to come?
The future of GNEISS after we finish stage 1 completely, will be to then add a networking tab inside the GNEISS app that will look similar to Slack and Discord but be using highly secured and encrypted blockchain to achieve total personal privacy.
By Q2, 2020 GNEISS will incorporate loans and make our credit scoring system public so merchants have another accurate credit report to go by. Lastly by end of 2021 we should have our first gold/silver/crypto ATMs built with a couple distributed in select areas. These plans only run through the end of 2021 too.
Within 10 years, GNEISS aims to become a fully decentralized free market place with all the functions one could find on wall street.
GNEISS is the First Decentralized P2P free marketplace built on top of the Bitcoin and Ethereum Blockchains.
Creation and trading of ERC20 Tokens that are registered on the platform can be traded with Bitcoin (Free Bitcoin transactions due to Lightning Network).
Creation and Registration of ERC20 Tokens on the GNEISS Platform allow users to instantly create markets for their project. The users tokens can be traded with Bitcoin (free transactions through LN) to any other ERC20 token that is registered on the GNEISS platform (900+ trading pairs).
GNEISS gives the user the ability to store and trade BTC, ETH or any other ERC20 token on Ethereum’s Blockchain.
Users can utilize GNEISS Decentralized Registry to register their Birth Certificate, Car, House, etc. on the blockchain. This allows users to access these legally binding files from anywhere in the world rather than depend on a safety deposit box or fire safe (Untrustworthy 3rd Party)Birth, death, marriage certificates, Register car, house, boat, spaceship or “other” registration to register anything you want.
Match your Birth Certificate with Tier 2 GNEISS verification for globally recognized identification.
Free Marketplace – opening up free trade to the world by creating a decentralized free marketplace with the most advanced computer and network security on the market.
Dinesh Dixit
