Faced with increased inflation, rising unemployment and slow economic
growth, the lira is under increasing pressure. The Turkish central bank
has withdrawn millions of dollars from foreign exchange reserves this
year to buy lira and support the exchange rate of the lira against the
dollar, significantly reducing the country's net forex reserves from US$
40 billion at the beginning of the year to just about US$ 25 billion.To
get more news about WikiFX, you can visit wikifx news official website.
Nevertheless,
the lira has fallen by 17% this year. Before the coronavirus outbreak,
the Turkish economy was already under pressure. Now, after struggling
with nearly two years of currency depreciation, high debt and rapidly
disappearing foreign exchange reserves, the country with a population of
82 million is in a particularly bad situation and remains vulnerable to
the shock of the pandemic. The country's unemployment rate was close to
14% in January, before the economy was even affected by the
coronavirus. In the near future, Turkey's massive tourism industry will
also face destruction.
Due to the impact of the epidemic, global
economic activities and trade have declined significantly. Forex
reserves of emerging market countries are shrinking inevitably as they
face tremendous pressure. Driven by risk aversion sentiments and similar
demands, the global dollar shortage is further intensifying.
Recently,
the WikiFX APP updated a new version with a new function - “Detailed
Credit Report”. Get to know the original data of broker by one-click,
and this credit report covers dozens of types of data of broker. Whos
been swimming naked when the tide goes out？ Users will know it with the
help of the function.
On the first page of the report, users can
understand the risk level of their target broker. And the report
comprehensively analyzes users target broker from many aspects, such as
company profile, regulatory information, software identification, rights
protection, trading environment rating and genealogy etc.. Users can
easily get the overall information of broker by just one-click.
Through
the WikiFX APP, general users will have 10 chances to read brokers
in-depth credit report, with different reading requirements that they
can read it online or send it by email.
Follow the steps below to get a broker's credit report:
1. Enter the target brokers page and find “Report”
2. Touch the “Email Address” or “Online View” in the upper right corner
3. Press “Get the report” to check it
Zerodha is an Indian retail equity broker that claims itself to be No.1
in India, but except for the broker‘s marketing efforts, it’s hard to
say how much Zerodha deserves this title.
On April 29th, 2020,
Zerodha was showered by complaints from investors, making everyone
wondering about what happened.To get more news about
WikiFX, you can visit wikifx news official website.
WikiFX
team tried to log on Zerodhas mobile trading platform Kite, but it
failed to respond for a long time, while the trading platform online had
the same issue.
During the difficult process, the following error prompts kept popping out:
“Error while fetching chart data. Please refresh again.
Yet Zerodha still brags about how its platform has “made investing easier for clients”.
What‘s
more, despite the heavy complaints, Zerodha kept on making social
network posts as if nothing happened, neither did they respond to
clients’ complaints by offering an explanation or apology, leaving a
series of questions unanswered: Why didn‘t Zerodha apologize to the
complainants？ Why wasn’t Zerodha investigated by SEBI, the regulator
that supposedly oversees the broker？ And who should be held accountable
for investors losses？
A victim complained that he and thousands of
victims like him had lost most of their investments at Zerodha, and they
no longer believe in Zerodha or its so-called SEBI regulation. The
investor suffered heavy losses due to latency of Zerodhas trading
platform.
Bombarded with complaints from victims, Zerodha has lost
its credibility among investors. The frequent issues of latency,
inaccurate quotes and order execution failure within just a month make
this broker appear more like an illegal broker, rather than a compliant
one.
Per checking WikiFX App, Zerodha has a poor rating of 1.24 and
is currently unregulated. In the past 2 weeks, WikiFX received massive
complaints against this broker, so investors should definitely watch out
for it and always remember to check a brokers compliance and
qualifications before investing.
Up till now, WikiFX App has
recorded the profiles of nearly 18,000 brokers around the world,
integrating forum, exposure, inquiry, news feed and other functions to
better protect investors asset safety.
May 13th, from WikiFX news. US overnight core CPI in April experienced
the sharpest month-on-month decline in history, falling 0.8% after
seasonal adjustment to a record low since November, 2008, while core CPI
shrank 0.4% annually.To get more news about
WikiFX, you can visit wikifx news official website.
Facing
the recession caused by the pandemic, US Federal Reserve lowered
benchmark interest rate to nearly zero on March 15th, while multiple Fed
policymakers noted that the Fed will take all necessary measures to
alleviate economic impact of the massive lockdown measures.
Fund
managers and economists observe theres little chance the Fed will reduce
rate to the negative range, as under negative rate, financial
institutions must pay the central bank interest rate on excess reserves -
the capital reserves held by the bank or financial institution in
excess of what is required by regulators.
In that way, the central bank can push cash-holding institutions into increasing corporate and consumer loans.
The
European Central Bank (ECB) introduced negative interest rates earlier
in June, 2014, reducing the deposit interest rate to -0.1% to revive
economy. The Bank of Japan (BOJ) implemented negative interest rates in
January, 2016, mainly to prevent the yen ‘s unpopular appreciation from
damaging the country’s export-dependent economy.
Illegal Broker Blamed Pandemic and the Bank for Withdrawal Failure
While
multiple brokers have seen a boom in transaction volume during the
epidemic, some have experienced withdrawal issues and blamed it on the
banks that remained closed due to lockdown measures. Is that what's
really happening？ Take a look at this case below.To get more news about
WikiFX, you can visit wikifx news official website.
Event recap
In
August 2019, the complainant Mr. Jung opened an account and deposited
on the trading platform of Forman Forex, a broker that prides itself on a
long history in the trade and claims to hold ASIC license. In the first
few tradings, Mr. Jung generally made good returns, so he gradually
dispelled doubts about the platform. For the rest of 2019, Mr. Jung's
trading operations and withdrawals on the platform had no problems, and
everything seemed to go well.
However, the sudden coronavirus
outbreak dealt an unexpected hard blow on Mr. Jung's transactions. Under
the influence of the epidemic, Mr. Jung's transaction frequency
decreased significantly, while the withdrawal applications submitted at
this time failed to be approved in time as before. In several occasions
Mr. Jung had to cancel the withdrawal application after waiting for many
days in vain.
But when he applied to withdrawal again on March
19th, the application was soon shown as completed on the MT5 trading
software. However, after waiting for a long time, Mr. Jung still didn't
receive the withdrawn funds.
Mr. Jung immediately contacted the
platform but was told that the above delay was because the bank hadn't
resumed usual business during the epidemic lockdown. But as time goes
by, Mr. Jung's withdrawal still failed to arrive even after the bank
processing transactions of Forman Forex already resumed business on a
large scale, while his recently-submitted withdrawal application had not
been approved and remained in progress.
The broker claims to hold a
valid regulatory license granted by ASIC, but according to
investigation, both of the broker's licenses are invalid. The investment
consulting license limits the licensee's business scope to financial
consultation services and doesn't qualify the broker for providing
services involving forex and other financial derivatives products.
Meanwhile, the MM license(regulatory number 403863) the broker claims to
hold actually belongs to another broker Synergy, not Forman Forex. In
addition, according to WikiFX's on-site investigation, Forman Forex's
office is not located at the claimed address.
Up to now, WikiFX App
has included profiles of about 18,000 global forex brokers. If you have
any question about a broker's qualification, you may check the broker's
profile on the WikiFX App. WikiFX has also released the new feature of
“Wiki Fair”, a forum where investors can discuss forex trend and expose
illegal brokers.
Kobe Bryant and his daughter, Gianna, were among nine who died in the crash
A
post-mortem examination of the helicopter crash that killed basketball
star Kobe Bryant has ruled blunt force trauma as the cause of death for
all nine victims.To get more news about
WikiFX, you can visit wikifx news official website.
The 180-page report also found that the pilot, 50-year-old Ara Zobayan, tested negative for drugs and alcohol.
The cause of the 26 January crash, which occurred in California amid heavy fog, is still being investigated.
Bryant's 13-year-old daughter, Gianna, was with him on board the helicopter.
The
passengers - which included two of Gianna's basketball teammates, their
relatives and a coach - were on their way to a tournament in Thousand
Oaks where Bryant had been set to coach.
A giant who had his controversies
Gianna Bryant: The basketball talent killed alongside father
Petition calls for Bryant to be on NBA logo
Alyssa
Altobelli, John Altobelli, Keri Altobelli, Payton Chester, Christina
Mauser all died alongside the Bryant's and pilot Ara Zobayan when the
helicopter crashed into a hill just north of Los Angeles.
“On Jan.
28, the cause of death for all nine victims was ruled as blunt trauma,”
the examination said. “The manner of death was certified as an
accident”.
The results of the post-mortem examination were posted
on the website of the Los Angeles County Medical Examiner-Coroner office
on Friday.
Media captionSite where basketball legend Kobe Bryant was killed in a helicopter crash
Bryant,
a five-time NBA champion, played for the LA Lakers throughout his
career and is considered one of the greatest players in the game's
history.
He retired in April 2016 after a 20-year career with the team.
Lawyers for his widow, Vanessa Bryant, have filed a lawsuit against the company that operated the helicopter.
It alleges that Zobayan - who died in the crash - did not assess weather data before taking off.
Separately,
earlier this year, the sheriff of Los Angeles County said eight
deputies had admitted possessing graphic photos of the crash site.
Alex
Villanueva said he was “devastated and heartbroken” by their conduct.
He said he had instructed the deputies to delete the images.
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