IC Markets to Launch Chinese Yuan and Russian Ruble Trading

Seeing customer demand and reacting to trading 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, Australian IC Markets is launching trading in the Chinese yuan (USD/CNH) and Russian ruble (USD/RUB) on both of its MT4 and cTrader platforms. According to the firm, they are the first Australian-based broker to be offering USD/RUB trading for their customers.

Commenting to 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 Magnates, IC Markets Managing Director, Andrew Budzinski stated that the demand for the new products has been primarily from China, with some occurring from Russia due to an increase in clients from those two countries. In their public statement, IC Markets attributed the growth of Chinese-based clients in part due to their having an office in the country. However, Budzinski explained that the current geo-political situation has also led to the decision, saying “Adding the RUB is primarily opportunistic given the currency situation in Crimea.”

In Budzinski’s statement provided in the broker’s public release of the news, he explained that recent volatility in yuan has made the currency more appealing to broker’s Asian traders as he said, “We have also seen increased volatility in the Chinese yuan against the US dollar as China’s central bank intervenes in its currency, squeezing hot money out of speculative positions. The large fall in the USD/CNH of almost 13 big figures since the start of the year represents significant opportunity for our clients in the east.”