ODL Markets

April 22, 2010 03:00 ET

Petrol Prices Indicate an Opportunity to Profit from Currency Volatility, Says MetaTrader Software Provider

LONDON, UNITED KINGDOM--(Marketwire - April 22, 2010) -

Editors Note: There is an image associated with this Press Release.

With UK pump prices for petrol rising above £1.20 per litre in many places partially as a result of exchange rate volatility, opportunities exist for the canny investor to profit from forex trading, says ODL Markets, who provide the Meta Trader software to enable new and experienced traders to profit from currency movements.

While tax makes up a very large proportion of the pump price of petrol, currency rates also have a very significant impact on the price we all pay to fill up our cars. Oil is priced in US Dollars, so when Sterling is weak against the Dollar, oil prices become more expensive for Sterling buyers. The recent weakness of the Pound means that petrol and diesel pump prices have risen to all-time highs for UK buyers. Whilst this exchange rate volatility brings misery for drivers, it can open up opportunities for those seeking to profit by trading on the movements between currencies.

ODL Markets, an FSA-regulated broker, offers a package designed to support novice forex traders in the early stages of their trading life. The package includes software to assist the new trader in spotting opportunities and placing trades as well as a specially-designed "Discover" trading account to limit potential losses. 

MetaTrader 4 software from ODL Markets helps the new trader to spot opportunities to profit from currency movements and to play off the weakness of one currency against another. ODL Markets offers a free demonstration version of the software on its website to enable the would-be trader to explore the world of forex trading in a risk-free environment. The demonstration version also allows a novice trader to test out strategies and techniques in a risk-free environment. The software also enables trading in Gold, Oil and multiple indices. 

Established in 1994, award-winning broker ODL Markets also offers the Discover FX account for the new trader, which limits potential losses to the trader's initial deposit, reducing risk for those new to the world of trading. Higher petrol prices as a result of currency movements may push up travel costs for all of us, but they are also an indicator that there are opportunities to profit from these fluctuations.

For savvy investors who want to be able to track the impact of changing currency rates and stay one step ahead of the best prices, trading platforms such as Meta Trader 4 offer the opportunity to profit from the current volatility in the markets.

View the latest live currency rates on our MetaTrader 4 demo platform, or read more market news from ODL Markets by visiting http://www.odlmarkets.com

Notes to Editors:

ODL Markets is a trading name of ODL Securities Limited which is authorised and regulated by the Financial Services Authority – Registration number 171487. Member of the London Stock Exchange and NYSE Euronext.

For additional information please contact Cathy Blackburn by emailing cblackburn@odls.com or calling +44 (0)207 903 6100. ODL Securities Ltd, 8th Floor, Northern & Shell Building, 10 Lower Thames Street, London, EC3R 6AD

Spread Betting, CFDs and Forex are leveraged products and carry a high degree of risk to your capital and it is possible to lose more than your initial investment and account balance. You should only speculate with money that you can afford to lose. These investments may not be suitable for all investors, therefore, please ensure that you fully understand the risks involved and seek independent advice if necessary prior to entering into such transactions.

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