Do not invest more money than you can afford to lose.
Offshore forex broker FreshForex said on Wednesday August 2016 was the month with the lowest trading volume for the last seven or eight years, despite the company’s expectations for high volatility. The broker provided no figures.
“This month will be recorded as the “laziest month” for the last 7 – 8 years,” the notice read.
Despite the overall low monthly trading volumes, traders with the broker demonstrated very positive results as 65% of all trades last month turned profitable.
Surprisingly, a large share of traders chose to invest in contracts for difference (CFDs), FreshForex said. The top performing FreshForex client in August also traded, in addition to forex, in CFDs on shares (Sberbank) and indexes (SP500, DAX30). The trader closed the month at a profit of $136,433.
Meanwhile, the largest increase of balance was 718.50% and was generated mainly from trading 1 lot on the EUR/USD pair for about two days. The highest result from a single trade was $3,080 last month and was a short position of about a minute again on EUR/USD in 7 lots.
On the other hand, the biggest loser last month was a trader who invested in majors, indexes and cross rates and closed the month with negative balance of $232,206. The greatest loss was due to a trade in the DAX30 index.
The most active FreshForex clients performed 1,335 transactions in August in various kinds of CFDs, both with the help of EA and manually.
FreshForex is a brand of Riston Capital, an investment company based in St. Vincent and the Grenadines. The broker offers online trading in forex and contracts for difference (CFDs) on metals, stocks, indices, and energy futures, as well as analytical, educational, and training services.
FreshForex is a member of Russia’s commission for the regulation of relations on financial market, KROUFR.