Economy
Best Laptop For Trading Forex In 2023: Trading Experts’ Recommendations
For successful Forex trading, having a reliable and powerful laptop is crucial. It needs to be fast and accurate because trading demands your full attention and quick decision-making. You can’t afford technical issues like running out of battery or slow performance. That’s why Traders Union (TU) experts recommend investing in a high-spec, up-to-date laptop to stay competitive in the Forex market.
Top trading laptops
Choosing the best laptop for trading Forex is crucial. TU’s analysts have compiled a list of laptops that are not only great for trading but also cater to gaming fans:
1. MSI Stealth 15M Laptop
This laptop is a powerhouse with its 11th Gen Intel Core i7 processor and a 144Hz refresh rate, ensuring smooth Forex trading and gaming. Its efficient cooling system and lightweight design make it a top choice.
2. Huawei MateBook X Pro Signature Edition
Despite its small size, this laptop delivers exceptional performance. With a 13.9-inch 3K resolution screen, Intel Core i7-7500U processor, and 8 GB of RAM, it’s suitable for trading tasks and more.
3. Acer Aspire 5 Slim Laptop
An affordable option for beginners, it features an AMD Ryzen 3 3200U Dual-Core Processor, 4 GB of RAM, and a 15.6-inch FHD display. Its portable design and long-lasting battery make it a practical choice.
4. LG Gram 15Z995 Laptop
Known for its lightweight build and long battery life (up to 17 hours), this laptop is powered by an Intel 10th Generation i5-10210U processor and offers excellent performance for trading.
5. Lenovo IdeaPad 3 15
If you’re on a budget, this laptop is a solid choice. It comes with 4 GB of RAM, a 128 GB SSD, and features a 15.6-inch HD screen with narrow bezels. While it may not be top-of-the-line, it’s a great starting point for traders.
These laptops offer various features and cater to different needs, from power and performance to affordability. Choose the one that aligns with your trading requirements.
Choosing the right trading laptop
To be a successful trader, your device matters as much as your skills and trading platform. Traders Union analysts outlined what you need in an ideal trading laptop:
- Processor – a powerful CPU like Intel Core i7 or AMD Ryzen with high clock speed is essential for quick calculations.
- RAM – 8GB is recommended, but 16GB is better for running multiple apps efficiently.
- Storage – look for a laptop with ample storage, especially a 125GB or larger SSD hard disk, for faster performance.
- GPU – a good graphics card, like NVIDIA GeForce GTX 2070 or RTX 30-series GPUs, ensures clear trade updates.
- Display – full HD resolution (1920 x 1080) or higher is crucial for viewing data effectively.
- Screen size and design – consider a larger screen for comfort, but also look for a well-designed laptop with adequate heat dissipation.
- Battery life – choose a laptop with an energy-efficient CPU (like the Intel “U” series) for longer battery life.
- Connectivity – ensure it has Bluetooth and Wi-Fi adaptors, with 802.11ax (Wi-Fi 6) for reliable and fast connections.
- Ports – having multiple ports, including Thunderbolt, is essential for connecting external devices like monitors.
A trading laptop with these specifications will help you trade effectively and reduce errors.
Budget-friendly trading laptop
TU’s experts recommend that for trading, you don’t need an expensive laptop. Models priced between $1,000 to $1,500 strike the right balance of cost and quality. These laptops offer standard quality without breaking the bank.
However, be cautious when considering laptops priced significantly lower than this range, especially if they’re claimed to be new. Certain offers could appear exceptionally favorable but might turn out to be deceptive.
To save money, you can explore refurbished laptops. Just ensure they are less than five years old and ensure the specifications meet your trading needs. Buy only from a reputable seller to avoid scams. This way, you can have a reliable trading laptop without overspending.
Conclusion
Having a dependable and fast laptop is essential for successful Forex trading, as it requires your full attention and quick decision-making. Traders Union has recommended a range of laptops, including the MSI Stealth 15M, Huawei MateBook X Pro Signature Edition, Acer Aspire 5 Slim, LG Gram 15Z995, and Lenovo IdeaPad 3 15, each catering to different needs and budgets. These laptops come with various features, from powerful processors to affordability, ensuring there’s an option for every trader. Remember, your laptop plays a crucial role in your trading success, so choose one that aligns with your trading requirements and budget.
By Adedapo Adesanya
The duo of Geo-Fluids Plc and Afriland Properties Plc propelled the NASD Over-the-Counter (OTC) Securities Exchange up 0.13 per cent on Friday, January 10.
Investors gained N1.4 billion during the trading session after the market capitalisation of the bourse ended at N1.053 trillion compared with the previous day’s N1.052 trillion, and the NASD Unlisted Security Index (NSI) increased at the close of business by 4.07 points to wrap the session at 3,073.93 points compared with 3,069.86 points recorded at the previous session.
Geo-Fluids added 25 Kobo to its value to close at N4.85 per unit compared with the previous session’s N4.60 per unit, and Afriland Properties Plc gained 24 Kobo to close at N16.25 per share versus Thursday’s closing price of N16.01 per share.
There was a 35.4 per cent fall in the volume of securities traded in the session as investors exchanged 4.3 million units compared to 6.6 million units traded in the preceding session, the value of shares traded yesterday went down by 37.4 per cent to N17.2 million from the N27.5 million recorded a day earlier, and the number of deals decreased by 47.2 per cent to 19 deals from the 36 deals recorded in the preceding day.
FrieslandCampina Wamco Nigeria Plc remained the most active stock by value (year-to-date) with 1.9 million units worth N74.2 million, followed by 11 Plc with 12,963 units valued at N3.2 million, and Industrial and General Insurance (IGI )Plc with 10.7 million units sold for N2.1 million.
IGI Plc closed the day as the most active stock by volume (year-to-date) with 10.6 million units sold for N2.1 million, trailed by FrieslandCampina Wamco Nigeria Plc with 1.9 million units valued at N74.2 million, and Acorn Petroleum Plc with 1.2 million units worth N1.9 million.
By Adedapo Adesanya
The Naira witnessed a depreciation on the US Dollar at the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Friday, January 10.
According to data from the FMDQ Exchange, the local currency weakened against the greenback yesterday by 0.12 per cent or N1.80 to sell for N1,543.03/$1 compared with the preceding day’s N1,541.23/$1.
The pressure on the domestic currency came as the access granted to the Bureaux de Change (BDC) operators by the Central Bank of Nigeria (CBN) to purchase FX from the official market through the Electronic Foreign Exchange Matching System (EFEMS) platform prepares to end next week, precisely on January 19.
The CBN had given a 42-day window to the operators to access the platform to help stabilise the Naira in December, and this expires next week.
On Friday, the Nigerian currency tumbled against the Pound Sterling in the official market by N30.78 to sell for N1,889.29/£1 compared with the previous day’s N1,858.51/£1, but gained N5.48 against the Euro to finish at N1,583.81/€1, in contrast to Thursday’s rate of N1,589.29/€1.
As for the parallel market, the Nigerian Naira remained stable against the US Dollar during the trading session at N1,650/$1, according to data obtained by Business Post.
In the cryptocurrency market, it was bearish as the US economy added 256,000 jobs last month, the Bureau of Labor Statistics reported on Friday, topping forecasts for 160,000 and up from 212,000 in November (revised from an originally reported 227,000).
However, the readings came after a number of recent economic reports triggered a broad-market pullback across asset classes such as crypto as investors quickly scaled back the idea of a continued series of Federal Reserve rate cuts in 2025.
Cardano (ADA) fell by 3.6 per cent to trade at $0.921, Solana (SOL) slumped by 2.8 per cent to $185.93, Ethereum (ETH) depreciated by 1.4 per cent to $3,233.27, Litecoin (LTC) lost 1.3 per cent to finish at $103.62, Dogecoin (DOGE) shed 0.5 per cent to sell at $0.3315, Bitcoin (BTC), waned by 0.2 per cent to $94,154.43, and Binance Coin (BNB) went south by 0.1 per cent to $693.30.
On the flip side, Ripple (XRP) jumped by 1.5 per cent to settle at $2.34, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) sold flat at $1.00 each.
By Dipo Olowookere
Profit-takers took control of Customs Street on Friday, plunging it by 0.08 per cent at the close of trading activities.
The sell-offs were across all the key sectors of the Nigerian Exchange (NGX) Limited on last trading session of the week.
The insurance space went down by 1.53 per cent, the banking index depreciated by 0.41 per cent, the consumer goods sector weakened by 0.16 per cent, and the energy counter slumped by 0.08 per cent, while the industrial goods sector closed flat.
At the close of business, the All-Share Index (ASI) tumbled by 79.68 points to 105,451.06 points from 105,530.74 points and the market capitalisation retreated by N48 billion to N64.303 trillion from N64.351 trillion.
Yesterday, investors traded 1.5 billion shares worth N19.4 billion in 12,877 deals compared with the 489.5 million shares worth N13.1 billion transacted in 13,010 deals in the preceding day, indicating a decline in the number of deals by 1.02 deals and a rise in the trading volume and value by 203.14 per cent and 48.09 per cent, respectively.
Wema Bank was the busiest stock with 976.2 million units valued at N9.8 billion, Tantalizers traded 53.0 million units worth 129.6 million, Universal Insurance sold 34.8 million units for N26.8 million, Access Holdings exchanged 33.9 million units valued at N843.8 million, and Nigerian Breweries traded 27.3 million units worth N873.3 million.
The heaviest loss was suffered by Sunu Assurances with a decline of 9.99 per cent to trade at N7.30, Eunisell shed 9.96 per cent to N17.35, SAHCO crumbled by 9.87 per cent to N30.15, DAAR Communications plunged by 9.28 per cent to 88 Kobo, and Sovereign Trust Insurance went down by 7.04 per cent to N1.32.
On the flip side, C&I Leasing gained 10.00 per cent to close at N4.51, Honeywell Flour appreciated by 9.99 per cent to N10.02, Trans Nationwide Express jumped by 9.89 per cent to N2.00, RT Briscoe rose by 9.83 per cent to N2.57, and Secure Electronic Technology grew by 9.46 per cent to 81 Kobo.
Business Post reports that the bourse ended with 33 price gainers and 25 price losers, indicating a positive market breadth index and strong investor sentiment.
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