Category: Money Exchange Software

VinIt Solutions is Your Solution

Sending money nationally or internationally, exchanging money, trading online, or starting a money transfer business or Bureau de Change, all need the support of a well-known and well-versed company to help you on your way. Trying to figure out what the best way to transfer money  can be like trying to figure your way out of a maze. Even Consumers International, an international watchdog, has stated that: “The current industry standard allows for opaque pricing, which obscures unfavourable currency conversion rates, hides the real cost to the consumer and makes it almost impossible for the consumer to ‘comparison-shop’.”

Dealing with exchange rates while exchanging money can be also be tricky, especially if banks are involved. The Australian consumer watchdog, Choice, says: “There’s no way to know how much might go missing in the course of an international money transfer. Unexpected fees and a laughably bad exchange rate could cost you hundreds of dollars along the way – especially if banks are involved.”

They say it’s easy to open a money transfer or exchange office but running it smoothly and cost-effectively is another thing. Knowledge is power and, in these businesses, knowledge comes from experience and constant exploration into the money market world. If you don’t have the experience and knowledge, you can find it at VinIt Solutions.

VinIt Solutions is here to give you support in your endeavours. We have high quality, innovative products that are based on years of experience to deliver easy to use products and services. Our services are second to none. We work closely with our customers, whether they are a small start-up or a large corporation. Operating in full transparency, VinIt connects with customers on a personal level. This allows for professional relationships to grow, so that VinIT can be your solution.

The Swiss Franc scraps cap on Euro

In a move that is bound to have vast repercussions throughout both the domestic and international economy, the Swiss National Bank has determined that the mandated cap on the national currency’s value is no longer justified. Following this decree, the value of the Swiss franc immediately soared almost 30%, setting off one of the most chaotic days of currency trading in the past few years. In additional to the removal of the currency cap, the Swiss National Bank reduced a key interest rate from -.25% to -.75%, a move which has increased the amount of wealth required by investors to hold on to Swiss deposits.mon

Legarde also expressed her confusion as to why the head of the Swiss National Bank did not provide her with advance notice of this move. It is also important to note that the Swiss National Bank refrained from communicating their intentions to fellow central bank governors across the continent.

Although a strong national currency may bolster sentiment within the country, some financial ex-perts argue that the current strength of the franc will make it difficult for Switzerland to maintain their current level of export activity. The chief executive of Swatch, one of the most iconic Swiss watchmaking companies in the country, also remarked on the relative dangers posed by the removal of the currency cap, claiming that the decision would prove to be a “tsunami” for the domestic economy. The price of Swatch’s shares dipped 15% following the cap removal.

Defending their position, the Swiss National Bank stated that their moves were completely justified, due in large part to the fact that recent divergence among major international economies, including the weakening of the euro dollar, have resulted in an economic climate where the Swiss franc is no longer experiencing overvaluation. These evaluations are reinforced by current data gained from cutting edge money transfer software.

It will be interesting to observe the long-term effects of the SNB’s recent moves. Whether or not the Swiss economy will be able to maintain its current health with a dramatically appreciated currency has yet to be seen.

You could win a prize pool of $6000 with OctaFX & Forex-TSD’s contest

It seems that there’s no shortage of enticing and alluring competitions in the FX marketplace, particular for traders who are looking for the opportunity to show off their skills against a global pool of eager and ambitious competitors. OctaFX, in conjunction with Forex-TSD, have recently announced the arrival of a new competition designed to explore the “limits” of a trader’s ability in a no-holds-barred simulator contest.

Participants will each be given a starting sum of $10000 and 1:500 leverage in a race to see who can accrue the most wealth within a one month period. Although the funds used to facilitate this competition are fake, the prize winnings are very real. The 1st place winner will receive 2500 USD, while the 2nd and 3rd place participants will receive 1500 USD and 1000 USD, respectively. Financial prizes are also offered to 4th and 5th placed competitors.

Competitions such as these serve two primary purposes. Not only do they give amateur traders the opportunity to explore new strategies in a friendly competition, but they also raise awareness of trading software platforms, which, in this instance, is represented by the OctaFX platform all competitors will be using throughout the duration of the event.

Because of this, it could be asserted that both OctaFX and the five lucky finalists will all leave this competition a “winner.” Although OctaFX is dispensing cash to each of the winners, it is likely that they believe that participants in the competition will return to the company and continue to use their platform for commission-drive trading.

Additional information about this competition can be found at http://www.octafx.com/company/news/$-6000-prize-pool-in-a-new-octafx-&-forex-tsd-demo-contest/. Contestants must register on the website before the competition begins in order to be included in the event.

There really is no reason why those interested in enhancing their FX trading abilities should not participate in an event such as this. The opportunity to expand one’s abilities in a competitive environment will prove to be an invaluable experience for those who have not yet had the opportunity or ability to engage in FX trading in the real world. Essentially, the knowledge gained in this competition is as valuable as the actual prize itself.

Eurozone Retail Sales Drop – Will The ECB Act?

In a moment of disappointing disclosure, Eurostat has reported that retail sales figures in the Eurozone were much lower than had originally been expected for December, with overall numbers down 1.6 percent month-on-month. This reduction negate the .9 percent growth experienced during the month of November, and, when combined with the fact that analysts had previously only expected a .7 percent reduction, proves particularly devastating. Eurostat stated that trade in food products, beverages and tobacco, as well as non-food industries were all experiencing reduced sales. Adding further gloom to this prediction is Eurostat’s report that average retail trade in 2013 fell .9 percent in the euro area and .2 percent in the EU when compared to 2012 data.

These revelations will obviously spark increased inquiry into the tactics and strategies the European Central Bank will employ in order to ensure that the recent spark-of-life seen in the Eurozone economic recovery is not snuffed out. Many analysts are predicting that the ECB will take additional steps to promote growth and help the EU continue its tentative steps back into prosperity. In contrast to this news, the Eurozone Final Services Business Activity Index rose .6 percent when compared to last month. Although this fragment of optimism may not be enough to allay all fears, it provides proof that a recovery is indeed a tangible possibility.

The economic recovery in the Eurozone has experienced its fair share of frustrations and hangups throughout the last year. While many analysts remain confident that marked recovery in 2014 is a definite possibility, these current numbers remain a telling indication of just how much ground must be gained before substantive changes can begin to be observed across the EU. Were the ECB to step in and bolster the recovery, analysts must then question whether or not growth becomes a “false positive,” an indication of larger oversight as opposed to genuine development and prosperity.

The ECB has made clear that intervention in situations such as these is completely within the realm of possibility, largely mirroring the sentiments of the Federal Reserve in the United States. Although the US recovery is proceeding at a faster pace than that of the EU, the real test of the effectiveness of these policies can only be season when they are terminated, allowing the economy to adjust and calibrate itself as necessary. When this will happen in either region of the world, however, remains to be seen.

An Opportunity To Rule The Market Regardless of Who You Are

Most people like the idea of making money as easily as possible, who wouldn’t? This is why so many try their hand at trading in the Foreign Exchange Market, also known as FOREX, in order to increase their current investments. The problem with this, though, is that achieving success in currency trading involves practice, patience and knowledge.

Around $2 Trillion are traded each day, the market is fast paced and can also change quickly resulting in heavy financial losses. However, for those within the construction business, basic software can indeed help by importing the cost indexes for jobs to ensure the accurate outcome of predicted costs. This tool will give business owners the advantage of keeping up to date with current market prices, therefore making overall comparisons for the involved costs of any sub-contracted work.

The use of a Construction Guestimating Software Package helps to clearly give current costs for different job areas such as: material costs, the estimated length of time in which to carry out the work, along with the cost of sub-contracting out any of the work and much more. The software simply works by connecting to regional databases which are regularly updated in order to keep business owners up to speed with any market changes.

With so many people unaware of the existence of Construction Guestimating Software Packages they are continuing to lose out on valuable income. The tool can help to save expenditure along with the time in which it takes to calculate the costs of certain jobs rather than simply inputting the information straight into the software. The system has been specifically designed for the user, so by keeping up to speed with the both current and future material costs it makes knowing the right time in which to purchase materials more clear from a financial perspective, enabling you to save money.

The system is therefore highly reliable and will help you to trust in your decisions along with any subsequent profit made. By having the ability to quickly calculate projected costs for an individual client’s needs, the system will make it easy to print off the overall estimated costs for the client’s information. This helps to avoid going down the dangerous path of guessing the costs which could ultimately end up costing considerably more than expected.

Make Forex Work For You

The Foreign Exchange Market, also widely known as FOREX, is a very complex system that requires a lot of understanding in order to successfully make money. Many people enter the market believing it will be a quick and easy way of earning money, but this simply isn’t the case.

When opening your very first account with Forex, it’s advisable to start out with just a small practice account. It’s a good idea to enter the market with at least $1000 as a minimum in order to compensate for any small losses in the beginning. The biggest thing to watch out for however, is most certainly your Greed! With the market being extremely fast moving, be aware that by making too many quick moves could result in a financial loss. Try and find a strategy that works for you, firstly make sure you fully understand how to play the market, as risking large amounts of money needs to be done so with a great deal of caution.

Be sure to think very carefully when considering the purchase of a Forex Robot, recent times have shown they give big profits to the developers and little to the purchaser. No Robot is 100% accurate as they work by predicting the trends based on previous results, so be aware that the market can still fluctuate greatly and the bot will make decisions on your behalf.

Try to learn all there is to know about the market. Be sure to have a good depth of understanding about interest rates and trade imbalances along with fiscal and monetary policies to help protect your investments.  Learning to invest wisely is the key to success, sticking with just one strategy is therefore likely to be the safest approach.

Also, in the early days of your trading, try not to enter into too many different markets and be sure to avoid the ‘thin markets’ that don’t draw in much public interest. Begin by sticking with the most popular currency pairs and only stick to a handful of different markets at any one time. Always make moves with a clear head and definitely don’t rush after a loss as you are bound to make more mistakes.  The Forex market is mostly made up of large International Banks and Insurance Companies who succeed by keeping up to date with all new strategies and developments, helping to guarantee their success. So start with an Extensive Foreign Exchange Platform which will help you by sending current alerts to your mobile phone, aim to trade hourly in the beginning and see how it works for you

Fluctuating exchange rates making it

When it comes to a situation such as moving abroad, individuals will need to move their money between countries. Generally speaking, an international money transfer will commonly involve large sums of money, such as life savings and a sudden dip in exchange rates could have a massive impact on their future.

 

Not only would this situation be very stressful, there is also a lot of uncertainty when moving large amounts of money overseas. The most important thing anyone in this situation can do is to make sure they fully understand the way in which the exchange rates work. In general, exchange rates fluctuate greatly as a result of the world of politics, rates will indeed drop in times of political uncertainty when a country’s leadership is in question. By being more aware of political events and also economic confidence you will be able to anticipate when rates are likely to suffer of increase and as a result you will be able to avoid losing any substantial amount.

If rates do fall during the process of exchanging your currency then what you end up with is a final sum which is less than the amount you originally began with. Should you be dependent on having a certain amount of money in a designated country for a possible house sale for example, then that difference could potentially cause major upset.

It’s always advisable therefore to stay ahead of the market, increase your understanding and ensure you make an informed decision when making any international money transfers. If you will need the money in the near future but perhaps not straight away then you might want to consider a ‘forward contract’ which allows you to pay a deposit in order to lock your money into a certain rate which will be guaranteed for two years.

If you are still unsure as to whether or not you are making the right decision then a currency exchange specialist is your best port of call to help you through the process. These days, because it’s so easy to make multiple transactions from our mobile devices the process can be done so quickly and simply that we don’t fully consider the potential risks involved.

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