Some investors are routinely checking out the daily fundamental and technical analysis sections, provided by Opteck, in order to follow up on important financial releases and sometimes tend to open multiple trades according to the data they gather. We'll take a closer look at Saudi Arabian market news and the potential benefits of online trading on the Opteck platform.
Crude Market Update
After two years of low oil prices, it now seems as if OPEC may succeed in implementing production cuts. At the time of writing this article, oil has risen above $50 a barrel and many producers are expressing an interest in seeing prices continue to rise. Additionally, Winter fuel demand may also influence the price of crude. Like many major oil producing countries, the kingdom of Saudi Arabia is in a period of economic uncertainty. The government is determined to implement major economic reforms. The need for greater economic diversity and structural reform is a major talking point. More and more Saudis are keen to improve their own economic status and achieve financial independence.
The uncertain economic situation is encouraging them to move away from the Tadawul and traditional exchanges in order to try alternative investment methods, such as CFDs. Oil and gold are just two examples of the commodities that Saudis often prefer to trade on the Opteck online trading platform. Any crude oil market update can rapidly affect the price of both; as well as the value of major currencies (USD, EUR, RUB etc.).
It's fairly simple to open positions on any asset at Opteck. We’ve used Oil only as an example, but the principle is similar for forex, stocks, other commodities and indices. The actual online trading platform is a user-friendly dashboard display that showcases all the graphs and information that you need in order to be able to open your trades. This includes live charts, real time market quotes and tools for detailed technical analysis. Please see our short example below:
Like many major oil producing countries, the kingdom of Saudi Arabia is in a period of economic uncertainty. The government is determined to implement major economic reforms. The need for greater economic diversity and structural reform is a major talking point. More and more Saudis are keen to improve their own economic status and achieve financial independence.
Click on GOLD (you'll find GOLD under the “Commodities” tab).
Enter your desired investment amount (the number of units you wish to buy or sell).
Prior to completing the trade, choose the market price, either through “Sell” or “Buy”.
Click on the “Invest” button.
5 Advantages of CFDs TradingThere are several potential advantages – at least for those traders who take the time to study the markets and read the broker’s daily financial news. Opteck offers a free comprehensive online education center for registered users who want to improve their financial knowledge. We strongly recommend that you use it before you begin your actual trading.
CFDs trading is a flexible and unmediated way of trading that offers traders worldwide with numerous advantages:
- Flexible leverage of up to x200
- Over 1,000 popular financial assets
- No need to actually purchase the assets you invest in
- Transparency, security and maximum level of privacy