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IS TURKEY A SUITABLE INVESTMENT DESTINATION FOR UK INVESTORS?

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Sezer Sherif, Founder and CEO of investment group, Vector Capital

 

An exciting and resilient economy

Turkey can be an enigma to the casual investor. Steeped in history and holding strong religious sensibilities, this officially secular, multicultural, transcontinental country, is dynamic and outward looking, owing to its status as the gateway between the East and West. While the majority of its territory lies in Asia, its government is clear that its destiny lies within Europe as a member of the European Union, for which it is a key strategic partner on issues such as migration, security, and counterterrorism.

Defined by the World Bank as an upper-middle-income country, a status reserved for countries with a gross national income (GNI) per capita between $4,046 and $12,535, it is the 19th largest economy in the world and one of the fastest growing emerging markets. In fact its growth over the last two decades has been nothing short of remarkable, It grew 5.9% from a year earlier, in the final quarter of 2020, outpacing all G-20 nations except China.

Such has been the resilience of Turkey’s economy that rating agency Fitch revised Turkey’s outlook from “negative” to “stable” stating, “Turkey’s return to a more consistent and orthodox policy mix under a new economic team has helped ease near-term external financing risks derived from last year’s falling international reserves, a high current account deficit and deteriorating investor confidence,”

 

Sezer Sherif

Emerging markets promise new opportunities

With its young, fast-growing population and robust economic growth, Turkey offers a large consumer base and many trading opportunities. It is important to recognise that it aligns its regulatory and business environment with EU standards as an official EU membership candidate. Customs Union signed with the EU in 1995 offers further opportunities for European businesses and exporters across a broad range of sectors. This union is based on the free circulation of goods which are mainly textiles, machinery and chemical products, as well as plastics and transportation equipment between Turkey and the EU countries.

Foreign investors often choose Turkey to set-up a business because of its low taxes, developed markets and excellent infrastructure. Cities such as Ankara, Adana, Izmir, Bursa, and of course Istanbul, the country’s economic, cultural, and historic centre, are prime sourcing destinations for European businesses. Turkey is a globally recognised manufacturing hub for more than 250 international brands, across such industries as textile, automotive, electronics and construction. This is owing to its skilled labour force and lower costs of manufacturing, resulting from favourable exchange rates, as well as its locational proximity to Europe, which supports the acceleration of factory delivery times.

Investors and UK businesses should also take a close look at Turkey’s energy sector, which is a key area of development for the government, who are issuing a number of incentives to develop services and produces in such areas as geothermal, smart grid projects, nuclear, and renewables. For example the government is issuing green bonds to encourage investments into clean drinking water, and electric or hybrid vehicles that lower carbon emissions.,

 

Reward is rarely without risk

Investment in Turkey is not without its problems. High unemployment and a dependence on external financing have been ongoing concerns. Furthermore inflation levels for the last four years in the double digits can make it a tough sell for investors.

Fortunately, Recep Tayyip Erdoğan, Turkey’s President has made tackling these issues his immediate priority so as to achieve his government’s goal of making the country one of the ten biggest economies by 2030 through a reforms package that focuses on investment, production, jobs, and exports.

A good indication of the health and potential of Turkey’s economy can be gauged by what its business leaders are saying. Fortunately, the majority are confident that the future is a bright one for their companies, with 70% of CEOs interviewed for the PwC 24th Annual Global CEO Survey stating that they are confident in their own organisation’s growth prospects. Clearly, given its resilience, growth and hunger for inward investment, Turkey deserves a second look by any investor seeking to make strong returns.

 

Finance

A BRIEF GUIDE TO TRADING IN CRYPTOCURRENCY SECURELY

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Trading in cryptocurrency is becoming increasingly popular in the financial world. Crypto’s huge rises in value over recent months has encouraged many to consider it a valid and important way to invest their money. However, it can be tricky for someone new to the world of crypto to know how to start. The process of setting up can take a few days, but once you’re ready to go, it can be fairly simple to start trading.

 

Find A Crypto Wallet

To store crypto, you will need a cryptocurrency wallet. There are many wallets out there to choose from, in both software and hardware forms. You could choose a free to use software wallet, to begin with, and then invest in a more secure hardware wallet if you plan to hold amounts of crypto for the medium to long term. Hardware wallets typically cost anywhere from £50 to £150, so it is worth doing your homework and finding the right wallet for your needs.

 

Sign Up With A Brokerage

You will need an account with a brokerage service to begin trading. It would be best if you looked for brokerages that offer good security, an easy-to-use interface and plenty of cryptocurrencies to choose from.

You will need to provide some identification to open an account with a reputable brokerage, and it may take a few days to get your account verified. Therefore, it is vital to do your research and ensure that the brokerage you choose is legit before providing any personal information.

 

Get Help From Experts

Once you have your account up and running don’t rush to buy your first Bitcoin. As a beginner to the world of crypto trading, there are plenty of potential pitfalls, and talking to experts can go a long way to reducing the risks.

Check out Traders Of Crypto, a cryptocurrency community that provides expert, collective knowledge to those starting out with crypto trading. There you can find plenty of free guides to help you on your trading journey.

 

Choose Your Crypto

The next step is to decide on the crypto you want to trade in. There are thousands out there to choose from, with the most well-known being Bitcoin. The more popular the crypto, the more likely it is to remain stable, so it may help to start with Bitcoin for your first transactions.

Once you have some experience, you could branch out to smaller altcoins, though it is often wisest to keep most of your trades to the bigger coins.

 

Make Sure You Have The Capital

You will need sufficient capital to buy and trade cryptocurrency. You can add this to your brokerage account, typically by bank transfer or debit card payment. It is crucial to keep in mind that the value of crypto frequently changes, so ensure that you are spending only what you can afford.

 

Start Trading

You can start by either trading cash for crypto or crypto for crypto. However, keep in mind that there may be brokerage costs for each trade, so you should choose your trades wisely.

 

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SKILLING AND METROPOLITAN X PARTNER TO OFFER ADVANCED TRADING EDUCATION PROGRAM

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Skilling, a Scandinavian fintech providing online trading on a wide range of world markets, has announced a strategic partnership with the trading education and empowerment institution, Metropolitan X Group, which is set to establish and propel valuable trading education for its clients.

 

Metropolitan X Group, whose universal mission is to provide financial research and trading education to traders of all levels, has developed a training program that delivers a well-rounded curriculum through innovative theoretical-practical learning webinars. The program offers live trading sessions providing real-time analysis and commentary on market events. Together with live social market updates and insights, the Metropolitan X Group equips its student-traders with the tools and skills they need to analyse, evaluate and trade the markets effectively and with greater success.

 

This is Skilling’s first education-focused partnership and it marks a significant step forward in Skilling’s plan for trader education and its investment in upskilling traders. The education program is expected to open aspiring traders up to new possibilities through personalized learning and create in them a deeper understanding of the markets.

 

“Client education is a priority for Skilling. We want to empower our traders with market knowledge and trading education so that they can navigate any market environment more successfully. We are very excited to be providing top education through Metropolitan X Group’s trading and advanced learning programs and are excited to see traders utilise these newfound skills on their trading platforms,” said Michael Kamerman, CEO of Skilling.

 

By partnering with Metropolitan X, Skilling can deliver top-tier education from experienced trading professionals that will help clients improve their investing knowledge, and develop deeper market insights to be fully apt and equipped to identify better trading opportunities in the markets.

 

“We are excited to partner up with a broker that believes education is the key to success in this demanding market. Together we shall provide traders with the necessary tools and knowledge to tackle the ups and downs of trading. Traders taking advantage of our shared services with Skilling will receive exciting exclusive market insight like no other,” says Sebastián Hernandez, Director of MetropolitanX.

 

The power of this evolving partnership demonstrates Skilling’s firm positioning on trader education leadership and will drive success through strong growth in more educated and skilled new customers taking on the markets.

 

“There are undoubtedly both inherent opportunities and risks in trading and investment. Investor enthusiasm has shown it has the ability to storm the markets through organized online trading communities and unprecedented access to hundreds of instruments. This underpins both the scale and power of today’s individual traders, making it vitally important that individuals have the necessary education and also the right tools at their disposal to make smarter trading decisions,” said Michael Kamerman, CEO of Skilling.

 

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