trading - Tag Archive

The Dangers of Posting Negative Reviews

5 Replies Jonny Hankins

Now here is a story for you.

Just imagine that you buy something over the Internet and it never arrives. It happened to me once with a folding bike, and I lost my money. But at least if you use PayPal you have some chance to get your money back. Oh the benefits of hindsight!

So you buy something from a company over the Internet. The object does not turn up. You call the company, no answer, you write to them repeatedly, send them emails, try all the numbers you can find but nobody responds.

What do you do? You go on a review site and you tell the story. Well that is a dangerous game!

Reviews

Reviews

As this article on CNN explains, in 2008 John Palmer bought his wife Christmas gifts off KlearGear.com. The gifts didn’t arrive and he followed the path described above as many of us would.

More than three years later, Mr Palmer received an e-mail appearing to be from KlearGear.com stating that they would be fined $3,500 if the negative review wasn’t taken down within 72 hours.

So as any threatened person would he tried to have it removed. But the review company couldn’t remove it without entering into arbitration, costing money, so the review remained.

What about freedom of speech? Well you might well ask. When you buy something or have any contracted action with a company you might be signing away your freedom of speech. Yes, fine print.

If you look in the terms of sale and you find something like the following “Your acceptance of this sales contract prohibits you from taking any action that negatively impacts KlearGear.com” as in the sale mentioned above, you waive your rights goodbye.

The company can stipulate how much you are liable for as well. Then you have to pay up or go to court, run up huge legal bills and argue that the clause is not legal.

With Christmas just round the corner, Kwanzaa and birthday presents to shop for, holidays and flights to book and many others, what are we going to do? Do we have time to read 10 pages of contractual terms each time we buy something? Would we understand it anyway?

It looks like another form of cyber-bullying to me.

The rise of mobile trading

2 Replies John Iliopoulos

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Smartphones and tablets are a common sight, especially in the world of financial trading. Until recently, anyone who wanted to participate in financial spread betting, CFD trading or anything of a similar nature would have to be near a computer, but the availability of a mobile Trading Platform has changed all that.

City Index infographicThe fact that the most successful mobile trader has made over £2m according to this infographic shows that City Index Forex Trading and associated activities can be done without relying on a computer or laptop, but why is it the case?

It’s down to a number of factors. Many traders of Forex and other products find that they don’t have the time to do so in their day jobs, so they may have no choice but to engage in trading activity when they’re on the move or during their lunch break.

The sophistication of mobile trading apps and sites has improved significantly too. As well as allowing users to trade, these apps also provide up-to-date news on price movements and important financial stories relating to various markets.

MetaTrader 5 – Android App Review

3 Replies Steve August

Most people consider Forex trading as a new way to make some easy money. However, it is a high risk investment. Forex market is very volatile and highly speculative. A 3% change in the value of the currency will make you rich or break you. MetaTrader 5 is one of the popular Forex trading applications available across various platforms. As I had been using its iOS and PC counterparts, I gave a try to MetaTrader 5 for Android.

MetaTrader 5 allows users to connect to a broker, receive quotes, make deals, and check trading history all inside the app and works just like the PC version – only now users can trade on the go and be informed on how all of their trades are going. A good thing about this free app is, it allows users to do all kinds of things and make money and don’t charge anything for them to do it.

A screenshot of MetaTrader 5

It can tell when you are using a tablet rather than a phone and will adjust its size and charts to fit the needs of the device. Many apps on iOS do this thing seamlessly, but only a few on Android care to do. Everything is set up in a way that everyone can understand and make the best decisions on what they want to buy or sell.

A screenshot of MetaTrader 5 trading stats

Users can connect to their account or create a demo account to run the app. They can also connect multiple accounts to the application at once so that they can buy and sell on different accounts without the need to sign out and sign in to another. The charts are real time and interactive with a zoom and a scroll. Metatrader 5 comes with the 14 most popular indicators to let users keep a watch on markets. On the downside, this app cannot be moved to SD card, so it uses the device memory space. It also consumes a lot of battery life for real time updating.

MetaTrader 5 requires Android 2.2 or up. As I said, this application is also available for Windows PCs and iOS devices. MetaTrader 4 is another interesting option to mobile Forex trading. If time permits I will come up with the review for the same.