Economy
Best Trading Monitors In 2023: Enhance Your Trading Performance
In order to trade effectively, you require the best brokerage, a reliable trading strategy, and a dependable output device. A top-notch trading monitor is essential for accessing critical trading information and staying updated on market patterns and economic conditions. Selecting the right monitor can significantly enhance your trading performance. Here, Traders Union experts explore the six best trading monitors for forex traders in 2023.
Best trading monitors
If you’re serious about trading, finding the best monitor for trading can significantly boost your performance and stay ahead in the markets. Discover top trading monitors that elevate your trading experience and help you achieve financial goals:
- Samsung CHG90 Series 49“ – Best trading monitor with an ultrawide screen
Pros: Quantum Dot Technology, reduced input lag and ghosting, excellent image quality, High Dynamic Range (HDR) integration.
Cons: Some users may find it expensive.
- Dell U4320Q
Pros: Picture-by-Picture feature for multitasking, auto-restore feature, supports multiple charts, 4K technology with Vesa interface.
Cons: Not suitable for novices, requires a sizable desk space.
- LG 34WN80C-B UltraWide Monitor
Pros: On-Screen control options, built-in speakers and sensors, excellent gradient handling, height adjustment feature.
Cons: Relatively high price considering its size.
- HP X27q 27″ WQHD
Pros: Wide viewing angles with AMD FreeSync Premium, vertical tilt and rotation options, thin edges for dual monitor setup.
Cons: Eye-ease coating lessens image quality, limited swivel options.
- ViewSonic 32 Inch 1080p Widescreen
Pros: Dividable screen with ViewSplit software, premium IPS panel for clear charts, bezel-free design.
Cons: Features could have been richer.
- Samsung J791
Pros: Intel Thunderbolt 3 display splitter, HDR support, 1 ms response time, wide horizontal workspace.
Cons: Poor viewing angles, potential glare issues.
Choose the right trading monitor that suits your preferences and enhances your trading performance.
How much does a trading monitor cost?
According to TU analysts, trading monitors come in a wide price range, from slightly above $100 to well beyond $2000, but most are priced between $200 and $500. In this range, you can find 1-2 monitors with exceptional features. If you’re new to trading, starting with budget-friendly monitors is recommended, and as you advance in your trading career, investing in high-quality monitors with configurations priced between $500 and $800 becomes a viable option.
Laptop vs Trading monitor
Analysts at Traders Union consider that it is important to recognize that both desktops and laptops have their merits for trading, but one may better suit a trader’s specific needs. Desktops excel in providing more processing power and built-in customization options, making them a top choice. On the other hand, laptops offer undeniable portability, allowing swing traders and long-term investors to access the necessary information from anywhere, providing flexibility.
However, when it comes to day trading, a desktop offers a significant advantage due to the abundance of data to scale and monitor. Setting up multiple screens becomes easier, and the quick and powerful nature of desktops is particularly beneficial for day traders. For optimal productivity and reliability in day trading, choosing the best trading monitor becomes essential. Check also the TU experts’ article about weekend trading on Forex which is very important.
How to choose the best day trading computers?
When considering the best trading monitor, the computer’s functionality becomes a crucial factor for optimal performance. Real-time data requires sufficient processing power to avoid missed trading opportunities. Here are essential system requirements for a successful trading experience:
- RAM: A minimum of 8 GB RAM is necessary for speed and adaptability. For multitasking, 16 GB or more is recommended.
- Processor Speed: A quad-core 2.8GHz processor (such as Intel i5 or i9) is preferred for quick operations.
- Hard Drive: Opt for a 250GB SSD hard drive for swift data storage, using the primary hard drive for reliability and a separate SSD drive solely for trading.
- Battery Life: Longer battery life (at least eight hours) is beneficial, especially for traders in areas with power issues or emergencies.
- Display: Choose a high-quality monitor to ensure clear images and top-notch performance in trading. Consider important factors when selecting screens for trading.
Conclusion
Having the right trading monitor is crucial for effective trading, providing access to critical information and enhancing performance. Traders Union analysts have explored the top trading monitors for forex traders in 2023, offering a range of options to suit different preferences and budgets.
By Adedapo Adesanya
Market bellwethers, Central Securities Clearing System (CSCS) Plc and FrieslandCampina Wamco Nigeria Plc, lifted the NASD Over-the-Counter (OTC) Securities Exchange by 2.08 per cent on Monday, August 3.
CSCS Plc, the Nigerian securities depository company, gained N10.00 to close at N112.00 per share compared with the previous session’s N102.00 per share, and FrieslandCampina Wamco Nigeria Plc advanced by N4.71 to quote at N152.64 per unit versus last Friday’s N147.93 per unit.
As a result, the NASD Security Index (NSI) added 92.14 points to finish at 4,523.85 points compared with the preceding session’s 4,431.71 points, and the market capitalisation appreciated by N55.31 billion to N2.715 trillion from N2.659 trillion.
Business Post reports that the price of MRS Oil Plc crashed during the trading day by N12.00 to N120.00 per share from N132.00 per share, and UBN Property Plc dipped by 3 Kobo to N1.90 per unit from N1.93 per unit.
Trading data showed that the volume of securities exchanged rose by 113.1 per cent to 1.5 million units from 690,990 units, and the number of deals climbed by 19.2 per cent to 31 deals from 26 deals, while the value of securities slid by 13.1 per cent to N65.2 million from N75.0 million.
Great Nigeria Insurance (GNI) Plc remained the most traded stock by value on a year-to-date basis, with 3.4 billion units valued at N8.4 billion, followed by Infrastructure Credit Guarantee (Infracredit) Plc with 2.3 billion units sold for N6.5 billion, and CSCS Plc with 76.8 million units traded for N5.5 billion.
GNI Plc also closed the session as the most traded stock by volume on a year-to-date basis, with 3.4 billion units worth N8.4 billion, followed by Infracredit Plc with 2.3 billion units exchanged for N6.5 billion, and Resourcery Plc with 1.1 billion units transacted for N415.7 million.
By Adedapo Adesanya
The Nigeria Revenue Service (NRS) has introduced a 1.5 per cent stamp duty on eligible virtual asset transactions, with the tax deducted directly from the cryptocurrency purchased before it is credited to the buyer’s wallet.
According to the new guidelines issued on Monday, anyone buying Bitcoin (BTC), USDT or other cryptocurrencies in Nigeria will receive fewer digital assets due to the deduction.
This requires registered crypto exchanges and other Virtual Asset Service Providers (VASPs) to withhold the levy in the digital asset being traded and remit it to the government, marking Nigeria’s most comprehensive move yet to bring cryptocurrency transactions into the country’s tax net.
Unlike traditional taxes deducted from a customer’s bank account, the 1.5 per cent charge will be taken from the cryptocurrency itself, meaning buyers will receive less Bitcoin, USDT or other tokens than they paid for.
The tax body stated that “income tax deducted at source and stamp duty shall be remitted to the service in the originating token of the transaction.”
Besides the new stamp duty, the guidelines also clarify how income tax, Value Added Tax (VAT) and other tax obligations will apply to virtual asset activities such as trading, staking, mining and other crypto-related transactions.
To illustrate the new rule, the tax authority said a buyer who pays N1 million for one Bitcoin will receive only 0.985 BTC after 0.015 BTC is deducted as stamp duty and remitted to the government. When that Bitcoin is later sold, the next buyer will also have 1.5 per cent deducted from the cryptocurrency credited to their wallet.
The NRS said the guidelines are intended to provide clarity for taxpayers, crypto exchanges, peer-to-peer (P2P) marketplace operators, financial institutions, tax consultants and all participants in Nigeria’s virtual asset ecosystem.
According to the guidelines, the 1.5 per cent duty applies to eligible virtual asset transactions facilitated through registered exchanges and other recognised intermediaries. Where a cryptocurrency is used to complete a transaction that already attracts stamp duty under the law, the applicable duty on the underlying instrument will also be payable.
For crypto users, the implication is higher transaction costs, as eligible purchases will attract the 1.5 per cent stamp duty, while VAT on exchange service fees and income tax on taxable gains may also apply, depending on the nature of the transaction.
By Adedapo Adesanya
The Naira opened the week on a positive note, as it appreciated against the US Dollar by N3.39 or 0.25 per cent in the Nigerian Autonomous Foreign Exchange Market (NAFEX) on Monday, August 3, to N1,364.83/$1 from N1,368.22/$1 last Friday.
However, it suffered a marginal decline against the Pound Sterling in the official market during the session by 10 Kobo to close at N1,837.89/£1 compared with the preceding session’s N1,837.79/£1, and lost 6 Kobo on the Euro to sell at N1,573.93/€1, in contrast to the previous trading day’s N1,573.87/€1.
At the black market segment, the Nigerian currency traded flat against the Dollar yesterday at N1,405/$1, and at the GTBank forex counter, it was unchanged at N1,374/$1.
Interbank FX transactions increased sharply as market makers’ activities raised total Dollar volume exchanged to $137.048 million, more than 132 per cent above $58.990 million in turnover at the previous close. The surge in turnover was driven by increased deals at the NFEM window. The central bank reported that deal count at the interbank FX window rose to 138 from 67 on Friday.
As for the cryptocurrency market, major tokens advanced despite ongoing uncertainty around unresolved Coldcard wallet sweeps that have drained hundreds of Bitcoin (BTC), while traders are watching whether bitcoin can hold above $63,000 through the US session. BTC rose by 1.70 per cent to $63,765.88.
Bitcoin treasury firm Strategy disclosed Monday it sold 1,638 bitcoin for about $105 million between July 27 and Aug. 2, its third sale of 2026, per an SEC filing.
Also, an attacker has moved about 1,816 bitcoins, or roughly $114 million, from more than 5,200 addresses since July 30 in a fourth wave of sweeps targeting BTC in Coldcard-generated addresses.
Cardano (ADA) appreciated by 6.7 per cent to $0.1959, Binance Coin (BNB) gained 1.5 per cent to sell for $590.82, Solana (SOL) jumped by 1.3 per cent to $73.72, TRON (TRX) soared by 0.9 per cent to $0.3286, Dogecoin (DOGE) also grew by 0.9 per cent to $0.0703, Ripple (XRP) advanced by 0.5 per cent to $1.07, and Ethereum (ETH) rose by 0.4 per cent to $1,863.33, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) traded flat at $1.00 apiece.
