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Forex Trading in Bolivia • Forex Strategy • Benzinga

The forex market has been growing at a rapid pace in Bolivia, where increased currency stability, free-floating government regulations and an expanded internet infrastructure has made it easier to trade. If you’ve ever wanted to trade forex in Bolivia, our comprehensive guide will show you how to get started, open a brokerage account and formulate…

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The forex market has been growing at a rapid pace in Bolivia, where increased currency stability, free-floating government regulations and an expanded internet infrastructure has made it easier to trade. If you’ve ever wanted to trade forex in Bolivia, our comprehensive guide will show you how to get started, open a brokerage account and formulate your own unique trading strategy.   

Get Started with Forex in Bolivia

Getting started with forex trading begins with opening a brokerage account. You can open a brokerage account on nearly any device that connects to the internet, including:

  • Desktop computers
  • Mobile phones
  • Tablets
  • Laptops

Before you begin the process of opening an account, check and make sure that your internet connection is secure and private. You may also want to run a speed test on your device.

There are many international and local brokers offering forex trading capabilities to investors in Bolivia. When you compare brokers, be sure to consider the following characteristics:

  • Currencies the broker offers access to
  • Territories the broker services
  • Local and international licensure and regulation status
  • Account minimums
  • Fees and other transaction expenses

When you find a broker that you want to work with, create an account using that broker’s process. You may also need to download a 3rd-party trading platform like MetaTrader 4 or 5 before you can trade.

After your account has been opened in full, choose how you’d like to deposit trading funds. Most brokers in Bolivia allow you to fund your account using a number of methods, including:

  • Direct bank transfers
  • Transfers from electronic wallets like PayPal or Skrill
  • Deposits from a debit or credit card

It might take a few days for your deposit to show in your account. When your deposit clears, you can officially trade forex by placing your first order through your broker. 

Bolivia Forex Trading Strategies

Thanks to a high level of volatility, most forex traders in Bolivia use a technical analysis strategy to profit from their trades. Technical analysis is a type of currency examination that uses past charting patterns and indicators to predict how the price of the currency will move in the future. There are a wide range of technical analysis strategies used throughout the world. Let’s take a look at a few examples to help you get started. 

Head and Shoulders

The head and shoulders pattern is 1 of the most commonly used technical analysis formations. The head and shoulders pattern first establishes a baseline, with 2 minor peaks positioned in between a major peak. This pattern gets its name from its shape, which resembles a head and a pair of shoulders. The head and shoulders pattern is a bearish indicator and typically represents a sell signal. 

Reversal Candlesticks

Traders who rely on short-term price movements often use reversal candlesticks to determine when they should buy or sell a currency. A reversal candlestick is an indicator that signifies that a currency’s price trend direction will change soon. A reversal candlestick can be bullish or bearish depending on its position. There are a wide range of reversal candlesticks, and the strength of each candlestick is typically determined by its tail length.  

Forex Trading Example in Bolivia 

How can you earn money trading forex? Let’s take a look at an example of how differences in currency values can be profitable for you.

Imagine that you fund your account with Bs10,000. Your broker offers you 10:1 leverage, which means that you can place trades worth up to Bs100,000. You believe that the value of the USD will rise in relation to the BOB, so you use your entire lot and leverage to buy dollars. $1 is currently equal to 6.89 BOB — converting Bs100,000 leaves you with about $14,513.79.

Soon, you see that the value of the BOB is falling in comparison to the U.S. dollar. When $1 is equal to 6.93 BOB, you decide to cash out. You convert your entire lot of dollars back to BOB and receive Bs100,580.55 in the trade. This means that, after accounting for leverage and your initial deposit, you’ve earned a profit of about Bs580.55.

Making Money with Forex in Bolivia 

Though the realm of forex trading is still gaining traction in Bolivia, residents and travelers in Bolivia are free to exchange currencies as they wish. There are no limitations on the amount of money that you can deposit into an international brokerage account. You don’t need any type of special permissions from the Central Bank of Bolivia before you begin.

This freedom to trade combined with a growing internet infrastructure has led to the growth of forex trading in Bolivia. However, you’ll need to take steps to protect yourself and your capital during this period of change and growth. Some of the ways you can fight back against fraud and forex scams include:

  • Working only with licensed, well-known brokers. Whether they’re registered with the Central Bank of Bolivia or a comparable international oversight body, legitimate forex brokers are always regulated. Be sure to ask about licensure and regulation before you open an account.
  • Limit your leverage usage. It’s possible to find local brokers offering up to 1,000:1 leverage. This is a dangerously high level of leverage that’s very likely to cause bankruptcy for new traders. Limit the amount of leverage you use as much as possible.
  • Practice trading with a demo account. Most forex brokers allow you to practice your trading strategy with a demo account before investing your own money. Be sure to get familiar with your broker’s tools before you invest.

Best Online Forex Brokers in Bolivia

The forex broker you choose will dictate how much you pay in fees, which currencies you can buy and sell, the platforms you can use to trade and more. This means that it’s well worth the effort to take plenty of time researching and comparing brokers before you open an account.

Don’t have time to conduct your own research? Consider opening an account with one of our favorite international brokers offering services to investors in Bolivia below. 

Forex Terminology

One of the first things that you’ll notice when you begin researching the forex market is that forex traders seem to have their own unique language they use when discussing trades. Familiarizing yourself with forex terminology before you enter the market can enhance your understanding of the materials you’re reading. Explore a few of the most common forex terms you’ll hear with the definitions below.

  • Pip: A single pip is the smallest calculatable unit by which a currency can move, usually calculated to the 4th decimal place. For example, if a currency moves from a value of $1.0000 to $1.0010, you could say that the value increased by 10 pips.
  • Lot size: Your lot size is equal to the number of units of currency you are buying or selling on a single trade. For example, if you want to exchange ¥100,000 into euros, your lot size is equal to 100,000. Most forex traders consider 100,000 units of currency to be a “standard lot.”
  • Orders: An order is a specific set of instructions you provide to your forex broker so they can carry out a trade on your behalf. When you place an order, you’ll specify which currencies you’re exchanging, your lot size, the price that you need the order executed at and more. There are multiple types of orders and you can combine order types to limit your loss and automatically take profits.
  • Calls: A margin call is a risk of using leverage to trade. If you borrow money on leverage and your portfolio falls below a certain percentage, your broker might subject you to a margin call. If you receive a margin call, you’ll need to deposit more money in your account to make up the difference. If you cannot bring your portfolio value back up, you’ll need to exit your positions. 

Getting Started with Forex Trading

Forex trading is still a relatively new market for traders and investors in Bolivia. This means that laws and restrictions on brokers, leverage caps and more may change in the coming years as the Bolivian government gains a fuller understanding of how currency investing affects the local economy. If you do decide to trade forex, be sure to protect yourself and your investment by only using licensed brokers to invest with, limiting your leverage usage and practicing your trading on a demo account before you put money into your broker’s account. 

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Online Trading platform SIRIX

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SIRIX|  Online Trading platform SIRIX Review

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Everyone that has been trading for some time has most likely traded on the metatrader 4 trading platform of metaquotes. This has been the standard in the industry for the last couple of years.

 

But more and more brokers Like CMSTrader and UBCFX are offering alternatives that might suite certain traders even better then the MT4 as they have a lower learning curve and are designed more intuitive.
One of these platforms is the Sirix Trading Platform.
The Sirix Trading platform is

Sirix, a fully packed trading software with numerous with numerous options and special indicators that are designed by the software company to present you with a personalized trading experience.

Positive features and benefits of the Sirix Trading Platform

Ease of Use: if you are a trader you will be able to access your Sirix trading platform and see all your trades and other information at any place and time. The Web-trader is a fully function trading platform that does not require you to do any download. This has more or less become the norm of the industry and if you for example take the Sirix Trading platform of LegacyFX you will be able to have a download desktop version, a web version and a mobile version.
these in general all have the same functionalities but of course is the mobile version a bit more limited due to the smaller screen real estate.

Indicators and Options: this platform provides build I more than 50 Indicators which for most traders is over kill but it does allow most traders to find the right indications to match their trading behavior and trading strategies.

The Charting Package that Sirix provides is easy enough to understand and gives you as a trader all the information you need, there are different time frames that in combination with the ability to display lines and annotations make this platform feel like it is designed for you.

Social Trading: Sirix has a full feature social trading module that allows you to watch the trades of others which might give you new insights and trading ideas. If you come a across a trader that is particular successful you are able to copy that traders’ trades and create a full automated copy trader,
You as the trader are still in charge and you have the option to trade with lesser or higher amount then the trader you are copying.
In order to use the social trading, you have to open an account with their social trading community.

This can only be done by using a nickname an order to protect you identity. When you are part of the community then you are part of all the brokers that offer this feature to their traders. Meaning you are able to follow a trader that is trading with 12trader while you are trading with account from UBCFX or any other broker that has Sirix.

Now I have to mention that if you look to only trade social then the Etoro Platform is still a better solution s this system is built only for social trading and they have pretty much defined the concept.

 


Sirix Crypto Trading Platform

this is the latest platform that was launched by Leverate.

it focuses , just like the name says more n the trading of cryptocurrencies.

as this company understands that this is the direction where the market is going and more and more traders are asking for trading in Bitcoin or ripple trading to just name a few they have added this feature to the Sirix Platform , this means that every broker that has the sirix trading platform is in theory able to offer trading in cryptocurrencies.

in addition they have launched also a platform that is only trading cryptocurrencies but that will be another review as i have yet to see and play with this system


Conclusion
The Software company Leverate has created a very user friendly platform with inbuilt social trading and news functionality. When they launched this platform in 2012 it was already a good platform but today it rivals the best of them easily.

The Intuitive aspect of this platform is one of the key features and makes the threshold of trading lower for newbies. There is also a fastn amount of Sirix Tutorials out there that will help even the total beginners with the Sirix Platform

Now of the traders that need bots and more indicators then there sis still nothing that beats the metatrader 4 trading platform but for many traders Sirix offers more then enough and makes the trading experience easier then with MT4.
More and more brokers are offering this alongside their other trading platform so you as a trader will come across more and more brokers that have the Sirix Trading platform in their arsenal.

These are some of the Best Broker for trading on Sirix

UBCFX
LegacyFX
12Trader
CMStrader

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Who Will Speak at Blockchain & Bitcoin Conference Stockholm?

Who Will Speak at Blockchain & Bitcoin Conference Stockholm?

Bringing DLT Specialists Together:

 

 On September 11, Sweden will host Blockchain & Bitcoin Conference Stockholm organized by Smile-Expo – international coordinator of business events.

The conference will introduce various topics regarding blockchain and will drive attention to the most topical problems of the cryptocurrency market today.

Key speakers:[yasr_overall_rating]

One of the invited experts is the Member of Swedish Parliament Mathias Sundin who is involved in the Tax Committee and the Finance Committee. The specialist has co-founded a revolutionary technological organization Warp Institute and joined financial company Goobit. At the event, the speaker will analyse the power of decentralized systems, evaluating its long-term strenghts.

Head of Digital and Innovation at Landshypotek Bank Merete Salmeling will deliver the presentation, too. She will explain how DLT can be integrated into the real estate, and what advantages it brings.

President of Blockchain Alliance Europe Tanja Bivic Plankar will join the conference as well. Being an initial coin offerings expert, she will share knowledge about ICOs, describe recent innovations in the token sale sphere and talk about the regulatory framework.

Meet the speakers at the Blockchain & Bitcoin Conference Stockholm

Regulatory and legal challenges coming with innovations will also be discussed by Dr. Guenther Dobrauz-Saldapenna – Partner & Leader PwC Legal Switzerland. The speaker is a lawyer, VC investor, and banking specialist. He provides business consultations and has already written 10 books discovering innovative processes, money and technology.

See the full list of Key speakers here

Blockchain & Bitcoin Conference Stockholm is the second crypto event in Sweden carried out by Smile-Expo. The company has already held 40 successful crypto conferences in 25 countries.

Use an opportunity to meet leading DLT specialists, ask questions and learn new topical information about the blockchain industry at first hand at the conference!

Blockchain & Bitcoin Conference Stockholm

Details of the event and registration are available on the official website of Blockchain & Bitcoin Conference Stockholm.

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Go Visit the Blockchain & Bitcoin Conference Stockholm

Go Visit the Blockchain & Bitcoin Conference Stockholm

The Blockchain & Bitcoin Conference Stockholm is a highly anticipated crypto event in Sweden.  and is being held for the second time.

after the success of the first one they look to make this event a annual one.  since the crypto industry is going more and more out of the shadows and becomes more mainstream you will find that the quality of people involved also grows.

this is clearly displayed in the extensive list of speakers at this event.

Event goals:

bringing together the international business community in order to share their experience of integrating blockchain and cryptocurrencies; discussing blockchain industry issues and finding ways to solve them; encouraging a balanced growth of the cryptocurrency market.

Conference topics: 

  • blockchain in various sectors: energy industry, real property, newsmaking etc.
  • Legal regulation of the blockchain sector
  • token models and their application
  • ICO regulation.

Speakers:

the list of world-renowned blockchain experts, including government officials, foreign investors, entrepreneurs, lawyers, and developers is impressive and should get this event the notice it deserves.

Meet the speakers at the Blockchain & Bitcoin Conference Stockholm

who should not miss this Event :

investors, business people, lawyers, startup founders, and those aiming to launch a token sale.

why should not miss this Event :

:to receive full information with case studies about the blockchain application, to discover how to comply with the legal norms in the blockchain industry, to find business partners, and to enhance your brand awareness.

Prices of the Event

Standard ticket  – 240 EUR

  • Full access to all conference sessions
  • Access to demo area
  • Сoffee breaks
  • Speed networking

Student ticket – 121 EUR

  • Full access to all conference sessions
  • Access to demo area
  • Сoffee breaks
  • Speed networking

A valid student ID should be presented at check-in. No refunds on the day of the event.

Buy Your ticket Now


Blockchain & Bitcoin Conference Stockholm is a part of the series of Blockchain World Events held in 25 countries. The organizer is Smile-Expo International Company.

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