Finally BREXIT!

BREXIT, short for BRitish EXITing the European Union is happening on the 31st January 2020.

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Quick Recap

A public vote – or referendum, was conducted on Thursday the 23rd of June, 2016 where 51.9% voted to leave and the referendum had a high turnout of 72% (over 30 million voters). Brexit has not happened yet since the MPs rejected Theresa May’s proposal but the UK is now set to leave the EU on the 31st of January 2020.

Leaving the EU – What does this mean?

When the UK will leave the European Union, it does not necessarily mean that it will be the end of the Brexit. The Brexit will continue affecting the market and there are dozens of long-term opportunities in regards to trading.
The most important dates to consider are as follows:

Date Event
Mid January 2020 Meeting of EU lawmakers
1st meeting of 2020
Expected to greenlight the withdrawal agreement
31st January 2020 11pm UK time: Officially leaving the EU
Transition period will start
Aim is to allow both sides to put forward a 2nd deal
25th February 2020 Meeting of EU ministers to start negotiations on a new mandate for Michel Barnier
June 2020 EU-UK summit expected to finalize their trade relationship by the end of 2020
31st December 2020 If there’s no extension or deal struck; 31st December will be when new arrangements and new relationships will come to force

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What does this mean for the Financial Market?

If there was one word to describe the performance of GBP/USD in 2019, it would be ‘ROLLERCOASTER’. This would be the perfect way to describe the GBP/USD as it moved from low to high and high to low during the whole of 2019.

It has been a hard year for the British Pound and it dropped as low as 1.20 in early September.

But, it’s not all bad news as in the 2nd half of December, GBP/USD gained momentum (although it was short-lived).

Is it the right time to add GBP/USD to your investment portfolio?
Let’s find out!

Volatility at its Finest!

In the last few years, there has been 2 instances where the rate of GBP/USD fell significantly.

2009 – After the recession | 2016 – Because of the Brexit

Today, the British currency cannot boast of its stability due to the Brexit worries looming around.

The latest reports show that the UK economy is slowing down, but economic growth should accelerate in early 2020. On the other hand, positive trade between the US and China will bring more support to the other half of the GBP/USD pair.

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Trading BREXIT with Markets.Online

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  • Customised Algo to trade only GBP currency pairs
  • 50% bonus on your deposit resulting in a total of $15,000 for algo to use
  • A one-to-one session with the best financial analyst
  • Lower swaps for long term trades.

A glimpse of GBP’s 2020

Here are some forecasted figures of what traders can expect for GBP in the upcoming months.

As both the Brexit and the US-China trade wars are far from over, they should both keep playing a key role in influencing GBP/USD in the long run.

However, due to volatility, there are various short-term opportunities available to trade on Markets.Online.

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