Up until now, the total number of coronavirus infections worldwide is in the 100,000s with approximately thousands of deaths. In the meantime, how the virus will expand in the other countries? – we still do not know.
Coronavirus – The Damage
The global GDP is expected to fall by multiple percentage points. However, if the virus reaches the pandemic classification, the reduction will be even bigger. Goldman Sachs predicts no earnings growth in 2020 for most of the US companies because of the virus. Certain US stock market sectors (mostly IT due to higher dependency on Chinese supply chain and production) lost more than 10% recently. As you can see, the seriousness of the situation is difficult to overestimate, and we have not yet seen the bottom of it.
Coronavirus – What is the Cause?
It is quite straightforward. As the economies are intertwined and the global trade especially depends on China, the major disruption in the activities leads to major disruptions in productivity to the rest of the world. Chinese travelers are banned from half of the world, so they do not spend their money. The airlines get huge cancellations in bookings, and the tourism sector is damaged. All in all, because China affects the global economy, without China, the world is stagnating.
Coronavirus – How to benefit from this?
In the long term, hedge well: make sure that you have some have safe assets in your portfolio like gold. In the medium term, profit from the mass selling of S&P index, AUD, and NZD. After the panic, once the bottom is touched, go bullish right away.
Right now, USD is rising because of its stability. Currencies like AUD and NZD that are directly linked to China will suffer the most damage. Oil is on a downslope as there is no guarantee the demand will catch up for it.
If you want to make good profits trading Forex during this coronavirus pandemic, then you need a trusted broker to help you realize your trading goals. Pick a trusted Forex broker below and take advantage of their FREE demo accounts where you can easily develop a solid strategy before depositing a single penny.
| Forex Platform Name | Broker Details | Service Details |
|---|---|---|
FBS Markets | Regulation: CySEC, IFSC Minimum Deposit: $1 Asset Coverage: Currencies, Stocks, Commodities, CFDs Maximum Leverage: 1:3000 | Demo Account: Yes, unlimited amount Devices: Web, Android, iOS Customer Support: Open 24/7 Payment Options : Visa, Skrill, Neteller, Stic Pay, PerfectMoney, Bitwallet, and more |
| Read Full Review | Visit Broker Now | |
InstaForex | Regulation: FSC Minimum Deposit: $1 Asset Coverage: Currencies, Stocks, Commodities, CFDs Maximum Leverage: 1:1000 | Demo Account: Yes, with $50,000 Devices: Web, Android, iOS Customer Support: Open 24/7 Payment Options : Visa, Mastercard, MegaTransfer, PayCo, Skrill, Neteller, Boleto, Bitcoin, and more |
| Read Full Review | Visit Broker Now | |
eToro | Regulation: CySEC, FCA, ESMA Minimum Deposit: $200 Asset Coverage: Currencies, Cryptocurrencies, Stocks, Indices, Commodities, CFDs, EFTs Maximum Leverage: 1:30 | Demo Account: Yes, with $100,000 Devices: Web, Android, iOS Customer Support: Open 24/7 Payment Options : Visa, Mastercard, NETELLER, PayPal, Yandex, WebMoney UK, Skrill, and more |
| Read Full Review | Visit Broker Now | |
BDSwiss | Regulation: CySEC, FSC Minimum Deposit: $10 Asset Coverage: Currencies, Cryptocurrencies, Stocks, Indices, Commodities, CFDs, EFTs Maximum Leverage: 1:500 | Demo Account: Yes, with $10,000 Devices: Web, Android, iOS Customer Support: Open 24/7 Payment Options : VISA, Mastercard, AstroPay, Divepay, Dotpay, EPS, FasaPay, Giropay, Globe Pay, iDEAL, iSighthis, Maestro, Neteller, PayTrust88, PostePay, Rave, RPNPay, Skrill, SOFORT, Zotapay, and more |
| Read Full Review | Visit Broker Now | |
Olymp Trade | Regulation: IFC Minimum Deposit: $10 Asset Coverage: Currencies, Cryptocurrencies, Stocks, Indices, Commodities Maximum Leverage: 1:200 | Demo Account: Yes, with $10,000 Devices: Web, Android, iOS Customer Support: Open 24/7 Payment Options : Visa, Mastercard, Neteller, Skrill, Bitcoin, WebMoney, Fasapay, ePayments, and more |
| Read Full Review | Visit Broker Now |
