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Are you Acquainted with Forex Accounts

Category: Investing | July 13, 2017 | Comments Off on Are you Acquainted with Forex Accounts



Forex trading is not easy unless you become acquainted with the forex accounts. If you are not well-versed then obviously you are going to have a hard time. Forex basic is easy because you only have to understand the chart patterns, read the market movements, learn the strategies and etc. but when you learn more and more you will understand that there’s no end for forex education. Of course, there is no end because the market is always changing and every time you get to learn something new. Anyways, once you learn the basic your next step should be selecting a reliable broker. But before you find a broker you should know the types of forex accounts because the brokers will inquire about the preferred account.

Figure: Trading CFDs with reputed broker Saxo

So, as traders, you should have the complete picture of the forex accounts in your mind. Actually, there three main types of accounts they are such as standard, mini, and managed accounts. If you are new to the market you would not have the proper knowledge on these accounts so in today’s article we will explain the three types of accounts in brief so you will have some knowledge in it. moreover, you cannot just pick ANY account instead it should be based on certain factors such as how much you are willing to risk, initial investment, time allocation and etc. read the article to learn more.

Standard forex account

The standard forex account is the common account among the forex traders. If you consider the standard account through it, you will be able to trade numerous currency pairs you will not have any restrictions. You can even trade currencies worth $100,000 but it doesn’t mean that you have to have $ 100,000 capital in your account.  There are many advantages in opening standard account and they are such as potential gains, ability trade many currency pairs, and etc. when you consider the forex trading account none of it will have ONLY advantages so the disadvantages in standard account are higher capital requirement, losses are higher, and not suitable for naïve traders. The standard account is not suitable for naïve traders because they do not have the proper experience in trading so obviously it will be risky to trade standard accounts.

Mini forex accounts

If you want to trade smaller lots then the mini forex account is the ideal for you. It is just the account which allows the traders to profit from trading smaller lots. The mini lot can be equal to $10,000 (it may vary according to the brokerage accounts). Normally, these mini accounts are targeted for the novice traders so brokers offer both the standard and mini accounts so it will increase their income as well. There are both pros and cons associated with the mini accounts and the pros are such as lower risks, flexibility and lower capital requirement whereas the disadvantage is it gives the lower reward.

Managed forex trading account

Managed trading account is controlled by the professionals meaning the professionals will do the buying and selling procedures but the capital will be invested by the investors or traders. However if you want to consider trading as your full time professional, you should trade the market all by yourself. There is no point of depending on other people since the outcome of each trade is unpredictable.

Summary- of course, there are many accounts but you should not just select any account instead you should test drive every account. As traders, you should learn the pros and cons of each account but you should not take quick decisions. After the test drive, you will understand whether the account suits your trading style or not so based on it, you can take the decision. If you are not acquainted with the types of forex account it will be hard for you to become a successful trader.

 

Things to Know Before Picking an Online Trading Course

Category: Investing | May 21, 2017 | Comments Off on Things to Know Before Picking an Online Trading Course



Picking the right online trading course can get you started on the right foot or leave a sour taste in your mouth for day trading. With our list of the top ten things to know before picking an online trading course you are bound to pick the perfect course for you!

Value

Are you getting the best bang for your buck? Look to see what is included, how long you have access to the materials, and what is not included. Many times you get what you pay for. Do not sign up for the cheapest trading course just to find out nothing you need is included.

Customer Service

Do they have twenty-four hours a day, seven days a week technical support and customer service representatives available. When you are having an issue you will want to make sure you can get it resolved as quickly as possible.

Results

You want to make sure you are learning from the best so that you can get the results you need. Check out Warrior Trading and their results to get an idea of what you should be looking for in an online trading course.

Course Materials

Online trading courses should offer written materials, videos, tutorials, simulators, call sessions, and direct contact with real mentors. Having the right materials, in the right mediums will ensure that you can get the information you need and develop the skills necessary to properly learn how to day trade.

Mission

Find a day trading course that has a mission that aligns with your goals. If you are looking for freedom and independence, look for an online trading course that has a mission that aligns with your goals.

Community

You should look for a day trading online class that is not just about you, but is about introducing you into a day trading community. The community should feel energized, friendly, focused, and dedicated.

Connectivity

You should look for a day trading course that utilizes all the social network platforms that you are using so you can stay connected and informed even when you are not actively trading. Warrior Trading’s Facebook page is a great way to stay informed and up-to-date while on the move.

A Current Blog

This shows that a company is active and committed to staying up-to-date and keeping you informed on what is happening now in day trading.

A Usable Chat Room

Probably the most important tool to your long term success, is a solid chat room. You want to find a day trading class chatroom that is active, busy, useful, and informative.

Reputation

You are investing in your future, you want to make sure you are signing up for day trading courses and classes that have your best interest in mind and that are committed to your success. Signing up for trading courses with an industry leader with a solid reputation will go a long way to getting you off on the right foot.

If you look for a trading course with these ten qualities, you cannot go wrong.

Why First-time Traders are Opting for Binary Options Trading

Category: Investing | April 21, 2017 | Comments Off on Why First-time Traders are Opting for Binary Options Trading



Binary options are also called Digital options which are modern financial instruments in which the payoff is either a fixed amount or nothing at all. While binary options are relatively new to the market and were introduced to the general public only in 2008 after approval by SEC, they have grown in popularity quickly among the novice investors. This is mainly due to the ease of access, limited risk and great profitability. While binary options have been banned by regulators in several jurisdictions and considered as a form of gambling, they have not lost the fame among first-time traders. Some of the reasons why first-time traders opt for binary options are listed below,

  1. Ease of Access

Binary options are easily accessible through online trading platforms and require very less minimum investment.  A majority of the binary options trading platforms are accessible through the web as well as mobile application. Hence, it is easy for anyone with an internet connection to get started with binary options trading.  Since the market is open throughout the day based on the underlying asset market, you can carry out binary options trading anytime at the comfort of your home. Also, you can open a binary options trading account with most of the brokers with a minimum deposit of just $250. But for other trading methods like Forex, Commodities trading or Stocks you will require a bigger initial investment. Also, the trading procedure is very simple and easy to understand for any beginner without much market knowledge. Beginners can go through the anyoption’s guide to binary options to get some understanding of how to get started with binary options.

  1. Social Trading Support

Another significant benefit of binary options trading is that many brokers support social trading which is very useful feature for first-time traders. Also known as copy trading, this feature allows beginners to copy and execute the successful trades of other experienced investors in the social trading community. A novice investor who does not have the market expertise or understanding of technical indicators may find it difficult to speculate future price movements. In order to help such first-time traders, many binary options brokers provide a social trading network where the successful investors are ranked based on their performance. This ranking is done based on various factors like success ratio, trading frequency, position size, expiry time, profits gained etc. Any beginner can join this social trading community and follow the top ranked investors.  After monitoring these top performing investors and finding out the best trader which suits your trading style, you can automatically copy and execute their trades according to your terms and conditions. This facility is not available with any other trading method and only binary options platforms provide this feature which is of great benefit to newbies.

  1. Predetermined Risk and Higher Profitability

Another reason for traders to choose binary options over other trading methods is its limited risk and significant returns. In binary options trade, a trader has to speculate whether the asset price will reach the strike price before expiry time. For example, let’s consider you are investing in binary options with spot gold as your underlying asset and your investment is $100 for that particular trade. You are speculating that the price of spot gold will reach $1,200 an ounce before 12 PM tomorrow. Normally, the binary options brokers offer a payout percentage of 70-80%. For our example, we shall consider the broker is offering a payout of 80%. Then, if your prediction is correct and the spot gold price rises to $1,200 before expiry time, then you shall gain $80 as profit and you will get back your initial investment of $100. But if your prediction is incorrect and the option expires “out-of-the-money”, then you will lose the $100 invested in that particular trade.  So, you will know prior to placing your trade, how much money you can win and how much you may lose. This is safer when compared to other trading methods like leveraging in Forex trading.  Here, the risk to reward profile depends on your success ratio and how well you are able to predict the market movements.

  1. Profitability in Declining Markets

Binary options do not involve buying or selling the actual assets but traders just bet on the price movement of several underlying assets.  The underlying assets can be anything like stocks, commodities, Forex currency pairs, market indices etc. This is one of the biggest advantages of binary options since traders can make money even under bearish market conditions.  If the asset price is declining, traders can go for a “Put” option instead of choosing a “Call” option. Since the success in binary options trade is not based on actual asset value but only on the correct speculation of price movement, traders can make money even if the overall market situation is very bad and all the asset prices are declining.  But while trading stocks or commodities, you buy the actual assets and you can’t make profits if the actual value of the asset is declining. Also, if you learn the binary options trading strategies like hedging, risk-reversal strategy, and straddle strategy etc. and understand how to use technical indicators, you can make a lot more money with binary options.

Conclusion

Due to above benefits offered by binary options like the ease of access, limited risk and social trading support, many first-time traders prefer to choose binary options. Also, if you are a beginner, you can get access to a lot of online training materials which can help you improve your trading skills to become a successful binary options trader.

Why Many Investors Choose ETFs over Mutual Funds

Category: General Investing | March 16, 2017 | Comments Off on Why Many Investors Choose ETFs over Mutual Funds



For many years personal investment brokers were touting the benefits of mutual funds because they were a managed investment vehicle in which you literally owned a small piece of a pie along with other members in the fund and you didn’t really need to know anything about market movement. You could simply look at how that particular fund performed in the last year, or the last number of quarters, and make an investment decision based on that. However, in recent years there is a new kid on the block that appears to be outperforming mutual funds and that would be an ETF, Exchange Traded Fund. If you are asking why, it might be wise to understand the key differences between the two types of funds.

Of Prime Importance – ETFs Are Subject to Much Lower Taxes

When investing in anything whatsoever, from real estate to stocks and bonds, you hope to make a profit. After all, that is the reason you are investing in the first place and this understanding is inherent in the definition of the word ‘investment.’ One of the biggest factors which can affect your bottom line is the amount of taxes you will end up owing to Uncle Sam. Without going into the particulars here, it is widely known in the financial sector that ETFs have a greatly lower tax liability than mutual funds and for this reason, all things considered, ETFs are considered to have the greater potential for profit of the two.

Both Are Managed Funds So Why Choose ETFs?

Especially important to new investors is finding an investment vehicle that is managed for them as they learn the ropes. Both mutual funds and ETFs are managed funds and so there will be an investment manager who oversees the fund in terms of where the group’s money will best be invested so as to yield the highest dividends. ETF Investing is said to have approximately the same performance but will have a higher yield primarily due to lower taxation. However, that is not the only reason why many new investors choose ETF managed funds that are indexed.

Mutual funds are traded only once each day but ETFs, like stocks, can be traded any time the market is open. This means that your funds manager can move investment money around as the market fluctuates, even within the course of a single day. This is also where you should take time to learn about active vs. passive management of your ETF fund because trading styles can affect your bottom line as well.

Which Is Right for You?

While both ETFs and mutual funds are, in simple terms, a group of investors pooling their money to buy into the market, there are differences involving how and when they are traded as well as in the amount of tax liability you will incur. There are other differences as well, but those are the two most prominent differences to understand before looking at which is better for you, personally. For most new investors, the simple fact that ETFs have a much lower (as much as 75%) tax liability all due to long term capital gains inherent in mutual funds is enough to sway their investing decision. Now it’s up to you to learn more about what each is and how they are traded. Only then will you know which is right for you.

How to Make Money Off of Your Car

Category: Personal Finance | March 7, 2017 | Comments Off on How to Make Money Off of Your Car



Maybe you’re in a financial jam and you need to figure out how to make some quick cash. Or perhaps you just want to bolster your current income with a side hustle. If you’ve got a car, there are several ways you can use it to make money.

  1. Sell It

This is the most obvious idea, and also the one that’s likely to make you the most money, at least in terms of a lump sum. Selling your car private party could earn you quite a bit, depending on your car’s current market value and if you’re willing to drop the price to sell it faster.

If you’re in need of a solid chunk of cash, this may be the way to go. The downside is that you won’t have a car anymore, but if you live in or around a city, this may not be as bad as you think. Public transportation is getting better and better, plus there’s rideshare options available, which coincidentally brings us to our next money-making venture.

  1. Drive for a Ride Sharing Company

Provided your car is new enough to meet the minimum requirements, driving on Uber, Lyft or another ridesharing platform is an excellent way to make money on your own schedule. Now, in all fairness, it’s important to mention that rates aren’t what they used to be. The days of making huge money through these platforms are mostly over. You can make some decent extra cash, or drive consistently to make a living. For the best results, you’ll want to drive during the most popular times, when rideshare services jack up their rates. This usually happens on holidays and around the times when bars are closing.

The great thing about driving for ridesharing platforms is that it’s also an excellent way to meet new people. This is especially helpful if you want to network. You can print out business cards and distribute them to anyone you drive who is interested.

  1. Be a Delivery Driver

Delivering products is an easy enough job that you don’t need experience to get hired, and besides a base rate for every delivery, there’s also the possibility of receiving tips. The traditional way of getting a delivery driver job is applying at a company that needs products delivered, such as a restaurant that offers food deliveries. While this is still a good option, you can also work for a company such as Postmates, which has an app that allows customers to order whatever they want and have it delivered to their door. This type of job is similar to working for a rideshare company, as you simply log in on the app and make yourself available, and then you can accept delivery requests.

  1. Get a Title Loan

If you’re in need of fast cash but you don’t want to sell your vehicle, then car title loans are another option. You go to the title loan company’s office, they appraise your car, and then they’ll issue you a loan based on the current market value of your car. You’ll typically have 30 days to pay back the loan plus any interest charges.

This is definitely a last resort option. The interest rates on title loans are almost always very high, often reaching an annual percentage yield (APR) of 300 percent. This does depend on your state, and some states, such as Florida, actually put a reasonable cap on title loan interest rates. The key with a title loan is that you borrow as little as possible and you make sure that you’ll be able to pay it back.

There are many ways that a vehicle in good condition can make you money. All you need to do is find the method that’s best for you and your financial needs.

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