Learn The Tricks And Tips From A Currency Trading Broker

If you are planning on becoming a currency trader then you will need to spend some time being trained by a currency trading broker from one of the many brokerage firms.

To be able to trade the many foreign currencies, you need to access the market, and in order to have that, you must choose a dependable Forex broker to work with. At this point it is time to select several in a group for further reviews and comparison. Compare applicable features and determine how each currency broker attempts to out- do his fellow competitors.

The problem with this research is that the industry is full of trading brokers and finding the one that you want to work with and trading with is going to be a huge task. These are some of the information you need to research in order to find a broker for your training:

·         Reputation – The broker that you are looking for should be known in the industry as having a great reputation. There should be nothing to mar his reputation.

·         Customer Service – This broker should be known for having great customer service skills with everyone in his firms as well as others.

·         Broker Review – All the firms – the larger firms – put out a broker review with some of his deals that have been remarkable as well as reviews written by other traders. There are also many test results, articles he has written and other brokers’ opinions on this person.

·         Demo Platform – He should be able to set up a demo platform for you to practice on and learn his tips and tricks as you are learning your craft.

·         Matching Personalities – Since you are working together in a somewhat stressful environment, both of you should have personalities that work well together, so spend some time just talking and visiting with him.

There are many places that you can also do due diligence on the broker as well as his firm that he works for. Research, research, research – you should know as much as possible about this broker and the firm he works for before you make a decision.

Soon you will be making money in this industry – and good luck to you!

Forex Trading Online Is The Major Market To Earn Lots Of Money 24 Hours A Day

Are you interesting in earning enough money to support and save without sitting in the office through the day? Do you want to be one of those people who can get a good income regardless of where you are? Do you want money to work for you instead of not enjoying your life?  If this is really what you want then say Hello to Forex.

What is Forex Online?

Forex trading online is the trading market for international currency trading, where national currencies are being traded between financial institutions, banks, and individual participants’ non-stop. It’s a lot like corporate stock market in terms of the general mechanics and principles, but also trading in Forex is quite unlike trading in any other.

It is easier to get into the trading process and the market is much more volatile and dynamic, meaning you can make dozens of deals during the day and earn thousands of dollars by just choosing the right currencies to trade with.

Forex Principles

Forex basic principle is simple – currency rates will vary every minute, and at times to a great degree, since there are many deals being made that have that involve currency. And by buying or selling large sums of currency you are able to make money off the difference between the rates of currency.

But the real thing about Forex is the ability to contact the market anytime from almost any place in the world as long as there is a connection to the internet. This market is additional more democratic than the commodity or stock markets, so there are more players who are involved and the trade is more extreme. All this makes Forex the tool for earning that is perfect for earning a lot of money via the web.

Effective by current events

Because Forex is a market that is volatile and the currency amounts are affected by an amount that is huge with variables, it is very important to pay attention to economic, financial and even political news also becomes very important. A really good trader in this market has his mind set on what is happening in current affair and the latest news since they set trends in exchange rates and can help the trader to predict the income or loss possible at any one time.

Trade Bitcoins – Sure, But What Are Bitcoins?

What are Bitcoins? They are a form of money that is actually referred to as “cryptographic digital currency”. And they are considered very secure and safe.

How they are made 

Bitcoins are produced at a rate that is controlled using a program on the computer. This means they will not become unstable as the currencies around the world have become. Since Bitcoins are open-source – meaning nobody owns them - and are decentralized meaning no institutions of any type involved in trading Bitcoins this makes the cost much lower for both the seller and the buyer. There is no fine print or limits to transactions when you tradeBitcoins since they are not regulated by a bank.

How to get them

Anyone can purchase Bitcoins in one of 2 ways. Buy them through an exchange platform, or buy them directly through other people who have Bitcoins for sale.

Both of these methods do require the use of traditional currency such as the US dollar. There also are a number of websites that are dedicated to finding Bitcoin users. To trade with others, you work out a time and a place and make the trade.

Have Been Around For a While

Bitcoins are not new – they have been around for a while but have only become known to the public during the last presidential election. Think back and you will remember that Mitt Romney was having problems deciding when he would release his tax records and how much information he would release. There is a story about a group who anonymously acquired Mitt Romney’s tax records and demanded one million Bitcoins as payment to not release the information. Bitcoins? No everyday person knew what that was but it did not take long for the news about Bitcoins to spread.

Why were they started?

There is also another story that a group of people invented these Bitcoins that are opened sourced because they believed that the US dollars is going to collapse soon and they wanted to have a safe and secure way to stash their money. Now whether either of these stories are true are not – who knows. But Bitcoins are now a new word in the investment community.

How To Avoid Forex Scams By Using Best Forex Brokers

There are a number of forex scams that unsuspecting investors find themselves in thus making them loss a lot of money and develop negative perceptions about online trading. These scams include activities such as:-

·         Opening customer account on fake websites

·         Selling money making software

·         Huge profit claims by a customer etc

Most of these scams are heavily advertised on radio, internet, television and even newspapers. Their aim it to prey on vulnerable investors who are in need of making quick money. But most of the best forex brokers will give you the proper guidance needed to navigate through all these scams. You also need to take caution and use your reasoning to avoid some of the scams. Below are ways one can use to detect and avoid getting scammed:-

Opportunities that are too good to be true

If you hear about certain companies promising overnight riches using their system, be very careful and avoid them as a plague. Even though it is possible to make a lot of money in the short term, this is not always the case. People who make such promises are keen on taking your hard earned cash and then disappear never to be seen again.

Companies that make guarantees on profit

Trading in forex is a skill that is acquired over a period of time and different people will get different results. There is no way a company can promise that if you use their system, then you are guaranteed to make a certain percentage of profits. These profit claims are dirty tricks to lure you to give them your money.

Avoid trading on margins

The best forex brokers will advise you to avoid trading on margins unless you are experienced and you fully understand the risks that come with trading margins. Margins should be left for those who have the time and the experience to closely monitor trades and avoid making substantial losses.

You should also avoid dealing with companies that you are unable to get their background information or you have no idea about their past track records. In most cases, such companies will turn out to be briefcase companies whose main aim is to take your money then disappear. 

Factors To Consider Before You Buy Bitcoins

Bitcoins have been around for some time now and it seems that their popularity and value is rising with each and every day. Initially when they first hit the markets, a lot of people thought that it was just another fad about digital currency and it would soon disappear but this has not been the case.

In fact, a number of online stores and even big chain stores have started accepting bitcoins as a mode of payment for their goods and services. But before you jump on the craze and decide to buy bitcoins, there are some important facts bitcoins which you should be aware of.

Bitcoins are not regulated

The coins are under no regulation or supervision by any central bank or government. It is basically a free for all kind of currency and it’s regulated by the forces of supply and demand. Besides, other than buying the coins, they can only obtained through a process known as mining and only a few individuals with very powerful computers are able to mine them.

Being that they are digital currency, they are stored electronically in what are known as digital wallets. If you purchase the coins, you will have a digital wallet where you will be able to keep all of your coins. But one caveat with this form of storage is the fact that the wallets are encrypted in the personal computers and it is easy for them to be hacked and result in the loss of your coins.

Value of the coins

The value of bitcoins has been increasing at a very first pace. This is further encouraged by the fact that there are a limited number of the coins and ones all of them shall have been mined then there will no additional extra coins. In fact, some people believe that the next crop of world billionaires will originate from trading bitcoins. The coins are estimated to be worth $582.00 a piece at the moment.

How to purchase bitcoins

If you want to buy bitcoins, then you will have to use one of the crypto currency exchanges that are available in the internet. Just like normal online transactions, you will pay for the equivalent value of the bitcoins you want using secure payment methods and then you will have the coins will be transferred to your wallet.

Bitcoins are relatively new and many people are yet to comprehend and adopt their use. You should do thorough research and have the necessary information before you decide to invest in them. 

Top Three Unique Traits Of The Best Forex Brokers

With the current proliferation of forex brokers, it can be mind bogging for a new investor to differentiate between legitimate and reliable forex brokers and the conmen who are out to make a killing out of robbing people of their money. But with just a little time and research, it is very easy to weed through the sea of brokers and end up with a couple whom you can rely on. Here are some of the essential characteristics that best forex brokers will never miss.

Current and efficient Trading platforms

Trading platforms are what the traders use to interact with the markets. This is where they are able to manage their accounts, observe news, place their trades and also conduct market analysis using the technical indicators. A good brokerage firm will have efficient and easy to use trading platforms which will enable the investors to execute their trades quite considering the fact that the forex market is very dynamic and extremely volatile. New traders can test the effectiveness of a broker’s platform by trying out a demo account to see the effectiveness of the platform.

Flexibility in the trading accounts

There are different aspects when it comes to the type of accounts that are offered by brokerage firms. The best forex brokers will offer accounts that are friendly to their clients with regards to features such as the leverage, spreads available, minimum lot sizes that can be trades as well as the minimum account balance requirement. They will also make it easy for the investors to deposit and withdraw their money without having to go through a lot of hustles.

Stability with good financial backup

It would be suicidal to invest your hard earned cash with brokerage firms that have a thin asset base. In case of insolvency, you will be sure to lose your investments or take forever trying to get it back. Though many new investors fail to do a background check in order to determine the asset base of their brokerage firms, it will add you more confidence to know that you are dealing with a firm that has a good asset base and one which will not become insolvent in the near future. 

Four Tips For Selecting Good Forex Brokers

The foreign exchange market is the world’s biggest financial market. This is due to the large volume of currency traded on a daily basis. Due the fact that there is no central place where the traders interact with the markets, forex brokers act as a conduit between the traders and the markets. Presently, there are so many brokers and many still continue to join the market. Because there are also conmen out their waiting to prey on unsuspecting traders, you need to be careful while selecting a broker. Here are some of the important things you need to look out for.  

Compliance with regulations

Various countries have different regulations which govern foreign exchange within their territories. As such, there are a set of regulations that each brokerage firm will be required to meet before being licensed to take part as a broker in foreign exchange. It is important that you work only with firms that are compliant with such regulations as they are guaranteed to operate above board and you can’t easily lose your investments while with them.

Currency pairs

Brokers have various currency pairs from which the investor can choose the ones to trade. You need to indentify the currency pairs that you are interested in and make sure that the broker has a combination of such pairs. You can decide to trader on either the major or the minor currencies.

The features of their accounts

Each broker will have different account options available for their investors. Below are some of the important features to look for in the accounts:-

·         Leverage and margins – these magnifies the trader’s account and enables them to trade with more funds than they actually have in the account.

·         Ease of deposits and withdrawals – it should be easy for you to access your money.

·         Commissions and spread

·         Initial deposits – many accounts will allow small deposits of as low as $50.

Customer care

Forex trading occurs on a 24 hour basis and good forex brokers should be accessible at any time you may need them. They should have a number of ways which you can use to contact them such as live chats, dedicate telephone lines, short message services etc. You don’t want a situation where you have to wait for days in order to get in touch with the customer care staff.

Reasons Why Many New Forex Traders Fail

The initial rate of success among new forex traders is usually very low. This however improves with time as many of the traders begin to see the benefits of their continued efforts. Unfortunately for a large number of the traders, they simply pack and leave believing that they do not have what it takes to be successful at trading foreign exchange. If you intend to begin a journey in this dynamic and interesting world, below are some of the reasons which are responsible for the failure of many new traders. Watch out for them.

Too high expectations

Many new traders begin their forex journey with unreasonably high expectations. They come already misguided that through online trading, they will be able to become overnight millionaires. Because of this mentally, they focus on making quick money and not on developing sustainable trading strategies which will enable them to have lots of winning trades. As a result, they end up committing mistakes which make them lose their investments and this becomes the end of the road for them in forex.

Trading without a sound plan

A sound trading plan is important to every forex trader just like the radar is important to a ship in the high seas. Many new traders just jump onto the platforms and start trading without an elaborate plan which will guide how they execute their trades. Without a plan, the traders are unable to know where to enter or exit the trades and they also have no idea on the profits they need to make. Success in forex trading requires meticulous planning of every move you make so that you can continuously improve and become a better trader.

Lack of discipline

Even with reasonable expectations and sound trading plans, many new forex traders still fail due to lack of discipline. Discipline here refers to the ability of the traders to faithfully adhere to their plans even in the midst of rapidly changing markets. For instance, a trader may be tempted to adjust their take profits position when they see that their initial point has been surpassed. The moment you start to second guess your decisions and trading plan, you lack discipline and you are likely to fail. Make your trading plan and stick to it. 

Facts You Need To Know Before You Trade Bitcoin

Bitcoins took the world by storm when they first showed up their face in the financial markets and they are continuing to mesmerize many individuals. The fact that it is an intangible currency that is not controlled by any bank make many individuals to brush it aside like a bubble which will soon burst. But things are about to change on how the world views this digital currency.

Currently, a number of chain stores have started accepting bitcoins as forms of payment and its immense increase in value is also something not to be taken lightly. But before you take your money and start to trade bitcoins, here are some facts you need to know about it.

They are not regulated by central banks

No central bank in the world regulates the supply and demand of bitcoins as is the case with other currencies. The lack of control and anonymity surrounding the coins make it to be somehow risky to consider as a serious investment because there are no guarantees whatsoever that your investments will be safe. Actually, someone could steal it right under your watch and there is nothing you can do about it.

Bitcoins are stored in digital wallets

Bitcoins exist in what are known as digital wallets that are encrypted in the computers of individuals. Though the digital encryption is fairly secure, you risk losing your coins should you lose your computer. This is unlike the credit cards which if you lose one then you just walk into the bank and get a replacement without losing a coin.

Perceived value

A majority of people seem not to understand what controls the value of the bitcoins. It has a perception in value which can fluctuate without any due consideration and this makes it a very risky venture. For instance, you might make a purchase of the coin today at a higher price only for the price to fall by over a half within the next few days and the converse is also true.

Few bitcoins exchanges

Before you trade bitcoins, you need to be aware that there are very few exchanges that deal with bitcoins in the world. Don’t expect to purchase them and hold them in your hands because they are digital currency and they only exist in the digital form. Presently, bitcoins have been gaining in value and some analysts believe that it will be accepted by a majority of businesses as a mode of payment and become just like the other currencies currency. Just be cautious before investing in it. 

Four Common Misconceptions About Forex Trading Online

Misconceptions and myths are bound to exist in any industry. The foreign exchange market is filled with a plethora of misconceptions and as a trader, it is important that you differentiate the facts from the myths and don’t let the myths affect your judgment on how you conduct your trades. Below are some of the misconceptions that have dodged the forex trading online arena for a long a while now.

Get rich quick route

Many people have the misconception that trading in the online foreign exchange market is a way to make a lot of money within a short period of time and basically get rich quickly. They look at the successful lives of the Wall Street money bags and then think that it was an easy journey for them. Those who think that trading forex online is a shorter route to success do not know that it requires dedication, commitment and continuous learning in order to enjoy the fruits.

Forex is a rigid market

This myth is specifically advanced by traders who have incurred losses and are looking for somewhere to lay blame for their failures. Simply because you have incurred losses does not mean that forex is some sort of a scam or that the brokers are corrupt and they are the ones responsible for your losses. If anything, online forex is one of the most flexible and liquid financial markets in the world with a daily turnover of over four trillion US dollars.

It is possible not to have losing trades

However seasoned you are at trading online forex, you can’t be right all the time. No one has ever developed a fail proof strategy that ended up giving them only winning trades without losing on even a single one. Success in forex trading online comes with minimizing the number of the losing trades and not avoiding losing trades at all.

You can be successful by doing what the other successful people did

While this might be true in other markets, it’s simply a myth when it comes to trading online currencies. The foreign exchange market is very dynamic and there is no way you are going to be successful by being a copy cat. You have to understand the markets and be able to rely on your own analysis in order to be successful. 

4 Reasons Why You Need Forex Trading Online

The currency market is the largest financial market in the world where volumes of up to $4 trillion are moved in just a single day. The market never goes to sleep and this means that traders can trade for 24 hours a day. There are a number of reasons why forex trading online can be very lucrative. Other than the fact that you can practically make a lot of money within a very short time, online forex offers lots of advantages that you can’t find in markets such as the stocks or even the indices.

Here are some of the lucrative which make it so lucrative:-

Liquidity

The forex market offers a great deal of liquidity. This $4 trillion market can give you the opportunity to move large amounts of money than any other market in the world. This makes it easy to make huge profits but don’t forget that there are also higher chances of incurring bigger losses.

Flexibility

The forex market is flexible in a number of ways. First, it operates for 24 hours a day and this gives you the ability to trade at the times of your convenience. Secondly, the various online brokers have developed advanced platforms with superior technical analysis which helps the traders to understand the market behaviors before executing any trade. These platforms are also available on mobile platforms hence the traders have the ability to monitor their trades wherever they are using their smart phones.

Ease of Entry

Entry into the online forex trading is not as high as compared to other markets such as the commodities or the indices. Many brokers have lowered their entry requirements to as little as $100 and this make it possible for a number of people to join forex trading online. Besides, most of the brokers allow people to trade on margin which makes it possible for one to trade more money than they already have by using leverage. If done right, this can lead to generous profits for the traders.

Education materials

The other factor that makes trading forex online lucrative is the fact that there are lots of trading materials which even a completely new trader can use to sharpen their skills in trading. Besides this, most of the brokers will offer numerous eBooks, video tutorials as well as webinar lessons in order to teach their clients on how to benefit from trading forex. 

Plus500 Review: What You Need To Know Before Signing Up

Plus500 is an online forex trading platform where traders from all over the world can access and trade forex. There are several such trading platforms and the choice of which to use entirely depends on the user. Plus500 have a number of users some of which are satisfied with its services while others are not comfortable with. This Plus500 review gives information that would be crucial for any potential investor would wish to sign up for a platform.

General Information about Plus500

The full company name is known as Plus500 Ltd and it was founded in 2008 and has been operating online since 2009. The company is registered in the United Kingdom where it has its headquarters. It accepts different kinds of payment methods such as PayPal, credit cards as well as wire transfers.

Account types offered by Plus500

To have an account with Plus500, one must have at least $100 as this is the least amount that the platform accepts. They generally have fixed spreads with each spread having a value of EUR/USD of 2. There are a total of twenty three pairs of currency traded on their platforms which includes Plus500 windows trader and Plus500 web trader. Finally, their margin call levels in 40% of the value of the account.

Ratings of Plus500

The company seems to have a low rating as compared to other trading platforms. With a rating of only 4 out of 10, many people that the platform is not among the best and others even think that it is a scam. For instance, there have been a number of users who have expressed their dissatisfaction on the services offered by Plus500 especially with regards to withdrawal of the funds. Several clients claim that they have had their withdrawal requests cancelled and when they make inquiries, they do not get any good explanation.

But there are also a number of customers who are satisfied with the services offered by Plus500. Some of the positive comments about Plus500 review portray it as a great company to trade with due to their efficiency in account verification and also in the processing of withdrawals. Due to these mixed reactions, you should take your time to thoroughly investigate if this company will be suitable for your online trading needs. You also need to consider other alternative platforms should you find this as unsatisfactory.