Connect with us

Demo Trading

Forex Trading in Bermuda • Forex Strategies • Benzinga

The forex market is exceptionally accessible from Bermuda, and Bermudian traders enjoy a number of benefits when trading currencies. With a strong regulatory system and a currency pegged to the United States dollar, there’s little question why more and more forex brokers extend their services to Bermuda. If you’re curious about trading forex in Bermuda,…

Benzinga Money is a reader-supported publication. We may earn a commission when you click on links in this article. Learn more.

The forex market is exceptionally accessible from Bermuda, and Bermudian traders enjoy a number of benefits when trading currencies. With a strong regulatory system and a currency pegged to the United States dollar, there’s little question why more and more forex brokers extend their services to Bermuda. If you’re curious about trading forex in Bermuda, use our guide to forex trading strategies and brokers to get started. 

Get Started with Forex in Bermuda

As an investor in Bermuda, you have your choice of forex brokers, funding methods and tradable currencies. Let’s take a look at some of the basic steps you’ll go through when you open your first account to trade forex.

  • Step 1: Connect to the internet. A stable, consistent connection to the internet is a must-have when trading any asset or currency. Run a speed test on your device of choice and make sure that your connection is private before proceeding.
  • Step 2: Choose a broker and open an account. Bermuda law allows both local and internationally licensed brokers to offer services to investors located in Bermuda. All legitimate domestic brokers must be licensed by the Bermuda Monetary Authority but international brokers may still operate legally within the country with oversight by a recognized international body like the Australian Securities and Investment Commission. Be sure to ask about licensure status and oversight compliance before you open your brokerage account.
  • Step 3: Download your trading platform. Many forex brokers don’t offer their own proprietary trading platform. However, these brokers typically support popular 3rd-party platforms like MetaTrader 4 or 5. Check and see which platforms are compatible with your broker and download your software.
  • Step 4: Add trading funds. After your account has been opened, deposit funds into your new brokerage account before you begin trading. Most brokers in Bermuda support a range of transfer methods, including direct bank transfers, credit and debit card transfers and deposits from an electronic wallet.
  • Step 5: Make your first trade. It might take a few days for your transfer to be fully deposited into your account. After it clears, you can officially begin forex trading. 

Bermuda Forex Trading Strategies

Thanks to a strong base currency, there are a wide range of trading strategies that you can use to profitably trade forex in Bermuda. Most trading strategies are divided into 2 categories: fundamental analysis and technical analysis. Let’s take a look at how these strategies differ and which might be right for your needs as an investor.  

Fundamental Analysis

Fundamental analysis is a method of examining the forex market by identifying and studying underlying market forces that move the value of a currency. Some primary sources of information that a trader who uses a fundamental analysis strategy might use include:

  • GDP reports
  • Reports on unemployment rates
  • Inflation and federal interest rate data
  • Election results
  • Consumer confidence and business sentiment indexes

Traders who use fundamental analysis look at economic indicators to predict how currency values will change. 

Fundamental analysis is best used by traders who take a long-term approach to forex investing. To begin with fundamental analysis, you’ll need a consistently updated, unbiased source for international news. 

Technical Analysis

Technical analysis is a type of currency examination that looks at charting patterns, price movements and discrepancies in volume to determine how the currency’s price will move in the future. Unlike fundamental analysis, traders who use technical analysis typically don’t spend much time researching economic situations or political movements. Instead, they identify patterns and formations that have led to buy and sell signals in the past.

Traders who use technical analysis search for charting patterns that predict future currency movements. 

Traders who use technical analysis as their primary trading strategy usually hold onto their currencies for much less time than traders who use fundamental analysis. Some technical analysis strategies can be complemented with automatic trading software programs that buy or sell currencies on your platform as soon as a preset indicator is triggered.  

Forex Trading Example in Bermuda

How can you earn money trading forex? Forex traders rely on discrepancies between the value of different currencies. They sell their dollars when the Bermudian dollar is strong, and they buy back their dollars when the value falls in comparison with their converted currency. Let’s take a look at an example.

Imagine that you believe that the Bermudian dollar will soon fall in value in comparison to the Japanese yen. You fund your trading account with $10,000, and your broker offers you 10:1 leverage on your trade. $1 BMD is currently equal to ¥106.47 JPY, so converting your entire lot plus leverage leaves you with ¥10,647,000.

A few days later, you see that the value of the yen is rising. When $1 BMD is equal to ¥105.30 JPY, you decide to cash out and convert your money back to your base currency. After the order is filled in full, you’re left with about $101,111.11. This means that you’ve profited about $1,111.11 on this trade. 

Making Money with Forex in Bermuda

The Bermudian dollar is pegged to the United States dollar at a rate of 1:1. This means that $1 USD will always be equal to $1 BMD, regardless of changing economic conditions. The United States dollar is the strongest reserve currency in the world, which means that Bermudian traders own a very valuable base currency.

It’s completely legal to earn money forex trading in Bermuda. The forex market of Bermuda is well-regulated, with oversight from the Bermuda Monetary Authority. There are no limitations on the amount of money that you can deposit into your brokerage account, and you don’t need any special permissions or license to begin.

While forex trading is possible, this doesn’t mean that it’s a guaranteed source of income. Before you risk any of your money, be sure to practice your trading strategy with a demo account. You should also only work with brokers that are licensed by the Bermuda Monetary Authority or a comparable international authority. 

Best Online Forex Brokers in Bermuda

There are many reliable, safe and reputable forex brokers offering services to investors in Bermuda. You can choose to work with either a local broker or an international broker extending its services to residents and travelers in Bermuda. If you don’t already know where you’d like to open your account, consider a few of our top picks below. 

Forex Terminology

Understanding some of the most common forex terms before you enter the market will enhance your trading and help you explore more educational resources. Below, you’ll find definitions for a few terms you’ll see over and over again when you learn to trade forex.

  • Pip: A pip is the smallest calculatable unit of any currency. In most cases, a single pip is equal to 0.0001 of a currency. The only exception is the Japanese yen, which is rounded to only 2 decimal places.
  • Lot size: Your lot size is the number of units of currency you’re moving on a single transaction. For example, if you’re converting $100,000 BMD into its EUR equivalent, your lot size is equal to 100,000.
  • Orders: An order is a set of instructions that tell your broker which currency you’d like to buy or sell, your lot size and the price that the trade needs to be executed at. There are multiple types of orders and you can combine order types to limit loss and automatically take profits.
  • Calls: If you use leverage to trade and your portfolio value falls, your broker might subject you to a margin call. If you receive a margin call, you must deposit more money into your account or close out of your position. Even a single margin call can wipe out large amounts of profit, so be very careful before you trade on margin. 

Trading from Bermuda

Trading forex in Bermuda is safe and easy to begin with. However, this doesn’t mean that you’re guaranteed to earn money exchanging currencies. Taking steps to protect yourself by thoroughly researching any brokers you work with and practicing with a demo account can save you from getting involved with a forex scam. Though these scams are less present in Bermuda than they are in other countries, they still exist.  

Continue Reading

Broker Reviews

Sollari Review – top 75 Broker ?

Sollari review

Sollari Review

Sollari is a global forex and CFD broker with trading platforms that is suitable and fully functional for all devices.

This is a good option for all levels of traders, although the product portfolio is average, and there is an inactivity fee to be aware of.

Initially formulated in 2023 to provide a robust forex trading platform, Sollari offering to include CFDs, indices, shares, commodities, and cryptocurrencies.

Sollari has several trading tools and features designed to make your trading experience as smooth as possible. The trading platform, has been heralded as a simple and convenient platform without losing the functionality you would find at MetaTrader 4. Some education is also available through the trading platform, and highly responsive customer service is available 24 hours a day.

Please read my full Sollari review for further details of this forex broker so you can decide whether Sollari can meet your needs.

Who is Sollari?

Sollari is a global forex, spread betting, and CFD online broker. Sollari is an online Crypto and Forex Broker providing traders across the globe with cutting-edge technology to trade the world’s markets. In a continuous effort to give their traders a more comfortable and safe trading experience, their experts have been improving their service and solutions ensuring traders have the freedom to trade whenever and wherever they like.

 They are headquartered in Kingstown, St Vincent and the Grenadines. with offices in Milan, Nassau, Sofia, and Luxembourg and are authorized and 

Sollari product range overview

The product range at Sollari is average compared to other brokers. They offer a solid selection of currency pairs and CFDs, no futures CFDs, and an average number of commodity and stock index CFDs. additionally they do offer leverage trading on the main cryptocurrencies.

Sollari Range of Market

Sollari Range of Market

Forex trading

More than 50 Forex pairs are available at Sollari with no commission and some of the tightest spreads in the industry.

Indices and Financial Trading

Indices and financial CFDs have flexible margin requirements and low spread , representing some of the industry’s best spreads. There are no overnight or hidden fees of any description to worry about.

Commodities Trading

At Sollari, there are several commodity CFDs, including metals and energies.

Share CFDs Trading

Trade more than 100 company shares without ever owning the underlying security. At Sollari, you can access global stock exchanges with the option to go long and short and benefit from leverage. For non-leverage trading, there is zero commission.


Sollari Accounts

There are five trading account options at Sollari. Of note are the Professional Trading Account and the Islamic Trading Account. There is also a free demo account from where to practice your trading.

Free Demo Account
You can select from the free demo account which platform you would like to practice trading on their trading platform. You will immediately receive $100,000 of virtual funds, which can be used to familiarise yourself with the financial markets and forex and CFD trading.

Islamic Account
This is a Shariah-compliant Islamic account which includes many features that are in keeping with Sharia law.


See here the overview of all the accounts.


MINIMUM DEPOSIT$5,000$10,000$25,000$100,000$250,000+
ORDER EXECUTIONInstantInstantInstantInstantInstant
ACCOUNT MANAGERyesyesyesyesyes
SPREAD, PIPSFixedFixedFixed & Floating, VariableFixed & Floating, VariableFixed & Floating, Variable
QUOTATION (NUMBER OF MARKS AFTER POINT)5 marks5 marks5 marks5 marks5 marks
MAX. TRADE SIZE10 lots20 lots40 lots50 lots100 lots
MARGIN CALL LEVEL40%40%40%40%40%
STOP OUT LEVEL30%30%30%30%30%
TRADING PLATFORMall devicesall devicesall devicesall devicesall devices
CUSTOMER SUPPORT24/5 support24/5 support24/5 support24/5 support24/7 support

Sollari Trading Platform

Sollari provides a web, desktop, and mobile trading platform on their trading platform, which is provided by the High-tech software provider “easytech”.

This trading platform has an excellent reputation among traders. 

Sollari Trading Platform

Sollari Trading Platform

web trading platform

The web platform allows you to place trades directly from your web browser in an easy-to-use interface that is customisable and available in several languages. The web trading platform falls short because of its lack of social trading; however, it is well-designed with several useful features.

There is a two-step login for additional security, and you can search for an asset using its name or by category. Order types include:

I was impressed with both the portfolio and fee reports which were comprehensive and easy to use, with clear information on commission, swap fees, and performance.

There are also the following useful features available on the trading platform:

Trailing stop

Trailing the position of a current price can then trigger a stop order as the price reaches a predetermined distance from a stop order. It works similarly to a stop order but in a more controlled way that aligns with movements in the market.

Market Sentiment

This allows you to closely monitor movements in the market using data from other traders concerning a specific instrument.


This allows you to mitigate risks by investing in the same product in a different direction.


Real-time charts provide up-to-the-moment information, including historical trends, forecasts, and current trends.

Sollari mobile trading platform

The mobile trading platform is in keeping with the web trading platform, with much of the same functionality. 

The actual design is well laid out and easy to use with customizability. I found the mobile app fast with personalised watch lists and the ability to open positions directly from real-time charts.

There are price alerts that include statistical alerts, which can be monthly or yearly for currency pairs, indices, etc. Clicking on the alert will automatically open the app on the instrument.

Sollari desktop trading platform

Use the desktop platform. This platform is designed with professional traders in mind, leaving the webtrader as an alternative for beginners and intermediate traders.

There is excellent customizability, some good search functions, and a choice of several languages.

There are several tools and technical indicators designed to enhance your trading activity.

Sollari customer service review

Customer service is excellent at Sollari, with immediate response times across multiple channels.

There are several channels for contacting customer support, including phone and email. When I tested their service, my query was dealt with immediately without even the intervention of a chatbot. The service provided via email and phone was similar, with fast, relevant responses to my queries. Customer service is provided 24/5, which is above average.

Sollari is opening an account.

The account opening process is straightforward, fully digital and quick. You will need your ID.

To open your account, you should first decide on the account type you wish to open

Then you can follow these quick and easy steps:

  • Select your country of residence
  • Add personal information, including name and email address
  • Choose a password
  • Enter your home address and tax residency
  • Complete some simple questions relating to your trading experience
  • Fill in information pertaining to your personal finances, such as income and savings and employment status
  • Select your base currency
  • Upload your ID documentation and proof of address, such as a utility bill or bank statement.

Sollari Deposit and Withdrawal

Deposits and withdrawals and essentially free, and the minimum deposit is high compared to what you would find at other brokers.

Before making your first deposit, you will need to choose between the following base currencies:


Deposit options include:

  1. Bank transfer
  2. Credit and debit card
  3. Cryptocurrency

The minimum deposit is $5000, which is high compared to other brokers. There are no fees should you choose to deposit via bank transfer from your bank account.

Bank transfers take several business days.

Withdrawals can be made using the same methods accepted for deposits, and there are no withdrawal fees for electronic wallets and credit/debit cards. 

Sollari safety

Sollari is not regulated by the Financial Conduct Authority (FCA) but is performing full due diligence to comply with AML regulations.

In addition, all client funds are held in segregated bank accounts to protect those funds should Sollari go bust.

The Sollari negative balance protection protects client funds should their balance go negative.

Sollari fees

Sollari has low CFD and forex fees and average non-trading fees.

Fees can be separated into two main categories for a CFD and forex broker: trading and non-trading fees.

Trading fees

The trading fees will vary depending on the financial instruments you are trading within each asset class. Trading fees can be charged as a spread, a commission, or a financing rate.

Spreads differ between the bid and ask price for a foreign currency price. Here’s how Sollari spreads compare against some other forex brokers:

Non-trading fees

Sollari has low non-trading fees as they do not charge deposit and withdrawal fees, and there is no account fee.

Inactivity fees are charged. There are inactivity fees to be aware of. However, these will only kick in once your account has been inactive for several months and you have a positive balance.

Who is Sollari suitable for?

Sollari is suitable for all levels of traders looking for a solid trading platform and very competitive spreads.

The selection of account types is aimed at both retail and professional investors.

Continue Reading

Demo Trading

The Advantages and Negatives of Forex Demo Trading

trading on the demo account

Intro to Fx Demo Trading

Despite the placement as the planets greatest monetary market, the forex marketplace only became easily available to retail traders in latest years because of the introduction of sites based trading via on-line forex brokers.

Aspiring forex investors can right now make use of digital trading systems – like the extremely well-known MetaTrader software program
(offered as a free of charge download by MetaQuotes Software program Company ) to access the large forex market thou they might trade only in very small amounts themselves

The majority of on the web brokers will support MetaTrader and could also provide their own proprietary platforms or web-centred dealing interfaces.

These types of systems typically enable traders to do a quick overview of the currency marketplace and maybe carry out some specialized evaluation, in addition to permitting them to gain access to trading necessities like purchase access and deal delivery for a wide selection of foreign currency pairs.

free of charge fx practice account

Like a common way of motivating forex investors to use their offer setup solutions and first deposit funds with them to make use of as trading accounts perimeter, many online forex brokers will offer a free of charge fx practice account to potential or existing clients.

Referred to as a forex demonstration accounts, such unsecured debts enable a trader to encounter a hands-on demo of what seems prefer to trade currency pairs in the forex market with this broker without placing any actual money at risk.

Although using a FX trading demo account has several benefits for traders, some tricks are well worth talking about because the technicians of getting into a demonstration operate and the producing emotional responses an investor can possess while controlling it can differ significantly from the encounter of live forex trading utilizing their personal hard-attained money.

Additional common demonstration accounts circumstances which make them vary considerably from an actual cash financed account include broker-imposed period limitations and set debris of virtual foreign currency.

The subsequent areas of this content will talk about starting up an on the web trading demo accounts, in addition to probably the most significant benefits and negatives of using a demonstration forex account in comparison to utilizing a live fx accounts for trading foreign currencies.

Starting Up a Free of charge Forex Demonstration Account
Simply about any trustworthy fx broker will allow potential and current customers to open up up a demo account with them free of charge to enable investors to practice currency trading using digital money.

Demo accounts traders frequently also get access to at least a few of the broker’s customer providers and consumer support personnel to ensure that they can obtain a much better feeling for what coping with the broker will end up being like when they determine to finance a trading account with genuine cash.

Investors desperate to open up a demonstration trading accounts can typically get around to the site of one or even more forex demonstration brokers and adhere to guidelines shown there for opening up a demo or practise account with the brokers they select.

Selecting the greatest fx demo accounts for your requirements might require critiquing those provided by a number of online brokers with different features in order to make an knowledgeable decision which broker is the best partner for your start.

When starting a demonstration account, you may even require to choose a quantity of virtual money to fund the demonstration accounts with and get into some personal data to determine yourself with.

In case you feel worried about offering your true personal data to a broker you are will to try not really you have more freedom as no documentation is required for this in general, the moment you open a real account your KYC documentation will be needed for compliance and this protects the broker as well as the traders from money laundering and fraud. 

You can also open up a new e-mail account to get communications about the demo forex account if you are concerned about getting your personal email address offered to third celebrations like digital email entrepreneurs.The Advantages and Negatives of Forex Demo Trading


Pros of Forex Demonstration Trading Demo_trading_advantages

The two beginner and experienced forex investors regularly make use of demo accounts to rehearse trading currencies and check out a fresh broker or trading strategy.

Some of the more common advantages of interesting in forex demo trading consist of the following:

Observe if You Like Trading Foreign currencies

Those fresh to trading foreign currencies or trading generally can use an fx demo accounts to find if they are psychologically and psychologically appropriate to the bustle of trading forex. Everyone is usually different, and some people might actually appreciate trading currencies, as the activity might not match others’ preferences, personas or lifestyles at all.

Operate Forex without Risk Whilst Learning or teaching how to trade

– Beginners who are still learning how to operate foreign currencies frequently experience substantially even more assured putting their real cash in danger in the marketplace if they have an opportunity to try points away from 1st. A demo account allows them to place their training into practice in a near to actual existence environment without placing their genuine money at risk. This enables those to make common beginner’s mistakes while they find out without needing to spend for the effects out with their very own bank.

Practice Great Cash Administration Methods –

One of the secrets to taking pleasure in long-term success when trading forex requires learning to apply well-established cash administration concepts. A demonstration accounts allows a brand-new or skilled trader to practice such methods completely on true exchange rate actions and see on their own how the common benefits accumulate to their demo account in digital money earnings.

Find out to Control Your Feelings When Trading –

Probably the most difficult elements of trading for many people consists of learning how to control their psychological reactions to earning and shedding deals in such a method that it stimulates overall success. Dealing properly with normally regular mental replies to producing and losing cash – such as dread, avarice and wish – can often differentiate the effective fx investor from the loss.

Check a fresh Trading Technique Without Jeopardizing Actual Money –

Smart experienced traders and beginners as well will generally wish to check the achievement of any new trading technique they arrive plan before applying it in a live trading environment. This kind of enables them to accustom themselves to pursuing the program and also to function out any insects in it that may become obvious while using it as real exchange price movements happen.

Try Out a New Broker’s Trading System –

Unless you are utilizing the Mt4 system that a great deal of on-line forex brokers support, you will most likely want to make use of a demonstration accounts to observe whether a fresh fx broker’s private internet or client structured trading platform is usually ideal for your trading requirements.

Examine if a Fresh Broker Offers Useful Features and Solutions –

Fx Brokers keen to possess you open up a live trading account with them will frequently provide demonstration investors gain access to their unique customer features, educational and information services, and customer support departments. This can be a great method to examine your quality of the broker’s general solutions before carrying out any actual trading money to ensure they are the type of trading partner you will need keeping your accounts.

Continue Reading

Broker news

Donald Trump blasts ‘fools’ who oppose good Russian ties

US President-elect Donald Trump has posted a progression of tweets censuring the individuals who contradict great relations with Russia as “‘dumb’ individuals, or nitwits”.

Mr Trump promised to work with Russia “to comprehend a portion of the numerous… squeezing issues and issues of the WORLD!”

His remarks came after an insight report said Russia’s leader had attempted to help a Trump race triumph.

Mr Trump said Democrats were to be faulted for “gross carelessness” in permitting their servers to be hacked.

In a progression of tweets on Saturday, Mr Trump said that having a decent association with Russia was “no terrible thing” and that “lone “idiotic” individuals, or simpletons, would believe that it is awful!”

He included that Russia would regard the US increasingly when he was president

Continue Reading