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Forex Trading in Brunei • Forex Strategies • Benzinga

Though forex trading is still a relatively new concept in Brunei, more and more brokers are entering the country and offering services to residents and travelers. There’s little question why more and more investors in Brunei are learning how to trade forex with trader-friendly regulations and a growing economy.

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Though forex trading is still a relatively new concept in Brunei, more and more brokers are entering the country and offering services to residents and travelers. There’s little question why more and more investors in Brunei are learning how to trade forex with trader-friendly regulations and a growing economy.

If you’d like to enter the forex market in Brunei, be sure to read our comprehensive guide to restrictions, brokers, terminology and more before you risk any of your money.

Get Started with Forex in Brunei 

Before you can exchange currencies or start investing in the forex market, you’ll need to open a brokerage account and add trading funds to it. Though the specific process you’ll go through when you open an account will vary by broker, here are the most common steps you’ll need to complete before you can access the market.

  • Step 1: Check your internet connection. From mobile phones to desktop computers, it’s possible to trade forex from almost any device with a stable internet connection. Check your connection and ensure that your internet is private before proceeding.  
  • Step 2: Choose a broker. There are a wide range of local and international brokers offering services to investors in Brunei. Be very selective when you compare brokers, as there are very few restrictions on brokers in Brunei. Consider fees, international licensure status, leverage availability and minimum deposits when you make your final selection. Then, open an account using your broker’s online process.
  • Step 3: Download a trading platform. Depending on the broker you choose, you might need to download an external trading platform. Most brokers support the MetaTrader 4 or 5 platform, but you might also have access to a proprietary platform through your broker.
  • Step 4: Fund your account. Once you have your trading platform and a fully functional account, deposit your trading funds. You can usually deposit money through a variety of methods, including bank transfers, debit card purchases and transfers from an electronic wallet.
  • Step 5: Place your first trade. It might take a few days for you to see your trading funds deposited into your account. When your deposit clears, you can officially begin trading forex by placing your first order through your broker. 

Brunei Forex Trading Strategies

Most forex traders in Brunei classify themselves by the length of time they hold their positions. There are 3 major types of trading styles: short-term, medium-term and long-term. The best forex trading strategy for you may vary depending on your risk tolerance and the currency pairs you trade. Let’s take a look at how each strategy varies and which might be right for you. 

Short-Term Investing

Short-term investors typically use a strategy called technical analysis to determine which currencies to buy and sell. Technical analysis is a type of trading that relies on charting patterns and candlestick formations to trigger buy and sell signals. There are a variety of charting patterns suitable for short-term trading strategies, but many traders rely on reversal candlesticks that indicate quick price movements.

Candlesticks may be bullish or bearish depending on their formation and placement. 

Short-term investors might hold their positions for as little as a few minutes or seconds, capitalizing on many small price movements throughout the day. In some cases, they may even use automatic trading software to fulfill orders automatically when a buy or sell signal is triggered.  

Medium-Term Investing

Investors who use a medium-term strategy typically also rely on technical analysis to inform their trades. However, these traders make fewer purchases and sales, relying on larger price movements and more complicated analyses to inform their trades. For example, a medium-term trading strategy called the “triple moving average crossover” requires the trader to establish a baseline period over an average of 21 days before they invest. Medium-term investors may hold onto their investments for as little as a few days to weeks.  

The triple moving average strategy is a popular medium-term trading technique. 

Long-Term Investing

Traders who use a long-term trading strategy usually don’t rely on technical analysis as their primary trading strategy. Instead, these investors usually use a strategy called “fundamental analysis,” which involves examining the underlying factors that influence how a currency moves in value. Traders who use fundamental analysis typically examine GDP reports, unemployment and inflation rates, federal interest data and other primary sources before they trade. Long-term trending strategies may last from a few weeks to years at a time.  

A strong economy means a strong currency. Traders who use fundamental analysis examine how economic indicators shift currency values. 

Forex Trading Example in Brunei 

Forex traders earn money by taking advantage of differences between currency values. A currency’s value changes over time depending on a variety of economic and political factors. By exchanging your Brunei dollars for another currency likely to increase in value and converting back when the value of the BND drops, you can earn a profit in your base currency. Let’s take a look at an example.

Imagine that Melissa believes that the value of the BND will soon fall in comparison to the USD. Melissa opens a brokerage account and deposits B$10,000 into her account. Her broker offers her 10:1 leverage on this trade, meaning that she can place a trade worth up to B$100,000 despite only having B$10,000 on-hand. 1 BND is currency equal to $0.7250 — converting her entire lot of BND to U.S. dollars leaves Melissa with $72,500.

From here, the value of the BND begins to fall. When 1 BND is equal to only $0.7150, Melissa decides to take her profits. She converts her entire lot of USD back to BND and is left with about B$101,398.60. After accounting for the money she borrowed in leverage and her initial deposit, Melissa’s profit is about B$1,398.60. 

Making Money with Forex in Brunei

Brunei is an exceptionally accessible market for forex traders. There are no rules or regulations that restrict the amount of money that you can deposit into an international brokerage account, you can freely convert Brunei dollars to any currency your broker offers and you can take as much profit as possible from your trading so long as you are reporting all of your income.

There are also no limitations on the amount of leverage that you can use when you trade from Brunei. You might find local brokers offering up to 1,000:1 leverage, which is a very dangerous level of margin trading. If you do decide to work with a local broker instead of an international option, carefully monitor and limit your leverage usage.

Best Online Forex Brokers in Brunei

Choosing a reliable and reputable forex broker makes entering the forex market significantly safer. The broker you choose will influence how much you pay in fees, which currencies you have access to, how much leverage you can use and more.

There are very few broker regulations in Brunei. This can make it much more difficult to find a safe broker. We recommend working with one of our vetted choices below.

Account Minimum

100 of your selected base currency

Pairs Offered

80+

Account Minimum

100 of your selected base currency

Pairs Offered

80+

1 Minute Review

FOREX.com is a one-stop-shop for forex traders. With a massive range of tradable currencies, low account minimums and an impressive trading platform, FOREX.com is an excellent choice for brokers searching for a home base for their currency trading. New traders and seasoned veterans alike will love FOREX.com’s extensive education and research center that provides free, informative forex trading courses at multiple skill levels. While FOREX.com is impressive, remember that it isn’t a standard broker. You can’t invest in the stock or bond market through your FOREX.com and you cannot open an account with tax advantages. The confusing pricing and margin structures may also be overwhelming for new forex traders.

Best For
  • MetaTrader 4 users
  • Beginner forex traders
  • Active forex traders
Pros
  • Impressive, easy-to-navigate platform
  • Wide range of education and research tools
  • Access to over 80 currencies to buy and sell
  • Leverage available up to 50:1
Cons
  • Cannot buy and sell other securities (like stocks and bonds)
  • Confusing margin requirements that vary by currency
  • Limited customer support options
  • Cannot open an IRA or other retirement account
Account Minimum

$50 USD

Pairs Offered

47

Account Minimum

$50 USD

Pairs Offered

47

1 Minute Review

Though Australian and British traders might know eToro for its easy stock and mobile trading, the broker is now expanding into the United States with cryptocurrency trading. U.S. traders can begin buying and selling both major cryptocurrencies (like Bitcoin and Ethereum) as well as smaller names (like Tron Coin and Stellar Lumens).

eToro offers traders the opportunity to invest their assets into premade portfolios or cryptocurrencies, similar to services offered by robo-advisors through traditional brokers. Though eToro isn’t a one-stop-shop for everything an investor needs, its easy-to-use platform and low spreads is a great way to enter the cryptocurrency market.

Best For
  • International Forex/CFD Traders
  • New cryptocurrency traders looking for an easy-to-use platform
  • Traders who want to buy and sell cryptocurrencies on-the-go
Pros
  • Simple platform that is easy to master
  • CopyTrader feature that allows new traders to copy the same strategies used by professionals
  • Virtual dummy account that gives you $100,000 to practice trades
Cons
  • U.S. traders currently limited to cryptocurrencies
  • Only 15 major coins available to trade
Account Minimum

100 EURO

Pairs Offered

50+

Account Minimum

100 EURO

Pairs Offered

50+

1 Minute Review

A fully regulated broker with a presence in Europe, South Africa, the Middle East, British Virgin Islands, Australia and Japan, Avatrade deals with mainly forex and CFDs on stocks, commodities, indexes, forex, cryptocurrencies, etc. This brokerage is headquartered in Dublin, Ireland and began offering its services in 2006. It offers multiple trading platforms and earns mainly through spreads.

Best For
  • Beginners
  • Advanced traders
  • Traders looking for a well-diversified portfolio
Pros
  • Controlled by regulatory agencies of multiple countries
  • Choice offered in terms of trading platforms
  • Support available in 14 languages and trading platforms in 20 languages
  • Practice/demo account available for trying out
  • Breadth of trading assets
Cons
  • Does not accept customers from the U.S. as it isn’t regulated in the U.S.
  • Transferring funds to the account may take up to five days; withdrawals could take up to 10 days

Forex Terminology

The key to profitable forex trading is a solid understanding of how the market works. When you first begin researching how to trade forex, you’ll be introduced to a number of new terms that traders use to discuss the market and their trades. Familiarize yourself with a few of the most common terms below.

  • Pip: A pip is the smallest unit by which a currency can move in value. In most cases, a pip is calculated to the 4th decimal place. For example, if the value of a currency goes from 2.0200 to 2.0300, you could say that the value increased by 100 pips.
  • Lot size: Your lot size is the number of units of currency that you are buying or selling. For example, if you want to convert 100,000 Brunei dollars into euros, your lot size is equal to 100,000.
  • Orders: When you want to buy or sell a currency, you’ll do so by placing an order through your broker. Order options may vary by broker, and there are multiple different types of orders that you can use to limit your losses when trading.
  • Calls: A margin call is a risk of using leverage to trade forex. If you trade on margin and the value of your portfolio goes down, your broker can put out a margin call. If you receive a call, you’ll need to add more money to your account or immediately close out of your position. 

Mastering the Forex Market

No matter where you’re trading from, the most important tool that a new forex trader can have at their disposal is a solid, well-researched trading strategy. Most forex brokers offering accounts in Brunei offer demo accounts that allow you to test out the broker’s platform and your unique trading strategy without risking any of your own money. We highly recommend that you use a demo account or a paper trading account to perfect your skills before you enter the market for real. 

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Neteller Launches Cryptocurrency Exchange Service

Neteller Launches Cryptocurrency Exchange Service

Neteller  one of the most known Digital fiat currency wallet provider , has started allowing its users to buy, sell, and hold cryptocurrencies including BTC, BCH, ETH, ETC, and LTC.

They do this on the large scale with a pilot in 10 countries and soon another 50 countries to join . They understand that if you do this effort it will only succeed if you can do this on a global scale.

Neteller and Cryptocurrencies

Neteller is a service which is operated by Paysafe Financial Services Ltd.,

paysafe

paysafe

founded in 1999, Paysafe Financial Services entered the market with the mission to provide an online alternative to the known traditional payment methods.

Most of the traders aiming us now neteller as one of the companies through which we made our deposits and if we had any profits also our withdrawals. A couple of years ago they left the Forex and Binary industry behind since the charge-back issue became just too expensive.

But as any companies knows, if you do not adept you die. The binary option market is all but dead and the Forex industry has moved also into the directions of the cryptocurrencies. thus, neteller understands that this is where the future is.

So Lasts week they announced that they are now offering a wallet with buy and sell cryptocurrency options.

As of today, Neteller users can buy, hold and sell cryptocurrencies via a recognized cryptocurrency exchange including bitcoin, bitcoin cash, ethereum, ethereum classic and litecoin, purchased using any one of 28 fiat currencies available in the Neteller wallet.

It may not seem so exciting but for many users that love this service it actually is. More and more currencies will be added making them an true exchange in the near future.

Now one is able to fund their neteller account through many different means (Mobile, Epay, Paysafecard, local bank deposits, and bitcoin)

We think that will make the threshold for many people, who would want to buy or sell cryptocurrencies, lower. This in return is a good thing for the overall acceptance of the cryptocurrencies in the mainstream of every day life.

Conditions for buying and selling cryptocurrencies through Neteller

The rates offered are somewhat in the lower middle of the current market making them go for the save route. The average market rates on the major cryptocurrency exchanges differ all in all not that much anyways, as this is not the main reason to choose to buy Bitcoin through Neteller

The minimum cryptocurrency purchase or sale amount is “approximately equal to 10 EUR,” the firm clarified, adding that the maximum amount depends on the transaction limits associated with each account.

When You open an account with Neteller you have to choose your default currency. This is of course for most people in accordance on their geographical locations, people in Britain will go for the pound most Europeans go for the euro and pretty much the rest of the work goes for the US Dollar, thou other currencies are available

The fee is 1.5 percent for purchasing and selling cryptocurrencies from wallets with EUR or USD as the default currency.

The fee rises to 3 percent for wallets with other default currencies.

Neteller  | Why is this a good move for neteller and one that we should expect from other online Payment providers as well ?

At this moment till last week Neteller users can pay, get paid on thousands of sites, and send money around the world through their system.

The company claims to have “millions of point-of-sale, ATM and online locations” for users to withdraw or spend their cash.

Last July 25, Paysafe ( which as you remember is the company that owns Neteller and Skrill)  announced that another digital wallet provider in its group, Skrill ( formerly known as moneybookers), started allowing customers to “instantly buy and sell cryptocurrencies, including bitcoin, bitcoin cash, ether and litecoin, using any one of the 40+ fiat currencies available in the Skrill wallet.”

We could now see that this was like their test run on this concept.

We do not know the numbers that Skrill produced since they offered this service but it must have been encouraging enough for Paysafe to include their flagship brand in this endevour.

We will see where this leads but we are hopeful that this is the next step in global acceptance to the cryptocurrency revolution. Let me know what you think

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The basics of trading that one should know

The basics of trading that one should know

Things you should be aware of before you start

The currency trading industry and now also the cryptocurrency trading industry have gone through enormous volatile times the last couple of years. Now with trump and its trade wars. The fast rise and somewhat recline of the cryptocurrencies and the fast pace of international politics and economies that create high rises and steep fall of the currencies.

So what does it all mean and what can you do before start to trade on these news headlines.

Good brokers like LegacyFX and UBCFX provide the traders with the latest market news and updates on a continuous basis but if you are new to trading you still have no idea what to do with this.

You start by understanding that the involves a high degree of risk, including the risk of losing you hard earned money. Besides the ones that were lucky enough to have bought Bitcoin a couple of years back and cashed in in the end of 2017, most people don’t get rich overnight.

You have to understand that you only trade with money that you are able to lose, going hungry because you want to open a trade is not the right wy to go about it.

So, What is Forex?

You should by now understand that the value of currencies goes up and down every day.

This in general becomes apparent the moment you go on vacation and what you bought last year with your money now is not the same amount you get today at the exchange.

This is on a large scale, what a lot of people do not know is that there is a foreign exchange market – or ‘Forex’ for short – or “FX” for even shorter, where you can potentially make a profit from the movement of these currencies.

The most known Trader is George Soros who made a billion dollars in a day by trading currencies. This is of course on a scale that we are not able to reach and you need a huge amount of money to begin with. Still he made a billion in one day!!

The internet has played a huge part in making trading in currencies accessible for the masses. You also do not need huge amounts of money to actually do this. Now keep in mind that if you make 10% profit on your investment but the investment was just $50 you basically just end up with $55. still no bank will give you 10% interest on your money.

Many people and I am talking millions are now trading every day, most do this on the side and don’t do this as a full-time job, but there are today enough people that are full time traders and making enough money to live comfortably.

Retail forex market needed Brokers

The Forex market for the retail market was born, it started around 15 years ago to become more serious as technologies advanced and the stream of information became almost instant, this is important for trading as one second can make the difference between profit or loss.

So, the moment the technology was there the people that wanted to trade were there all that was needed were the Forex brokers that offered the platform for trading.

There are latterly hundreds of companies of not thousands that offer this service and there are good ones like LegacyFX and there are scams (these tend to not last long)

Forex explained in short

The Forex market is the largest financial market on the planet and has been for many years now.

Its average daily trading volume is more than $4 trillion. (just let that number sink in for a second). Of this total amount around 5% is the retail market meaning traders like you and me. Still 5% of 4 Trillion is still a number with a lot of zeros behind it.

If you compare that with the New York Stock Exchange, which only has an average daily trading volume of $55 billion. You truly see the size.

To give you another example:

if you were to put ALL of the world’s equity and futures markets together, their combined trading volume would still only equal a 25% of the daily Forex market. Insane right?

Why does this even matter?

It matters because there are so many buyers and sellers that transaction prices are kept low. To explain how trading the Forex market is different than trading stocks, here are a few major benefits.

  1. Most Brokers don’t charge commissions – you pay only the bid/ask spreads.
  2. There’s 24hour trading – you decide when to trade and how to trade.
  3. You can focus on your currencies and become experts in only those pairs that you follow instead of following and selecting out of 5000 stocks
  4. You can trade on leverage, (something to be very aware of as it can magnify potential gains but also your losses).
  5. Forex is accessible for almost everyone– you don’t need a lot of money to get started
  6. In the Forex market you can trade on Demo accounts to learn before you commit your money

How is Forex traded?

The mechanics of a trade are virtually identical to those in other markets. The only difference is that you’re buying one currency and selling another at the same time.

This is also the reason as to why the currencies are quoted in pairs, like EUR/USD or USD/GBP.

The exchange rate represents the purchase price between the two currencies.

Example:

The EUR/GBP rate represents the number of GBP one EUR can buy (relevant now with all the Brexit issues going on) . If you think the Euro will increase in value against the British Pound, you buy Euros with British Pounds. If the exchange rate rises, you sell the Euros back, and you cash in your profit.

Now the same works for strading Bitcoin, ethereum, Litecoin or other cryptocurrencies. this has become an entire new market and has introduced many people to Forex . you should here be also aware that trading cryptocurrencies is like regular trading so you will be able to lose great sums of money.

the Best thing i found about trading cryptocurrencies is that the Leverage by default tends to be very low which makes the risk of losing it all much smaller.

Sounds simply enough?

Why does not everyone Trade.

The same could be asked as to why not everyone plays poker, you can make money. The comparison between the 2 is actually closer than you might think.

All traders that are successful will tell you that 80% of successful trading is psychology and the other 20% is research. It takes time to get the research down, but it can take a lifetime to master the psychology.

People tend to do things differently when real money is on the line and are accepting losses in the hope that the trend will reverse or taking out profit too early because they don’t want to lose what they just have gained. In short, the psychology is the hard part.

One should be aware that you can loose real money and a lot of it very fast if you don’t know what you are doing.

Now most Good Forex brokers offer some educational tools, some more than others that will teach you how to trade. There is also something that is called social trading that will allow you to follow other traders and see what they are doing in order for you to learn and make money at the same time.

So here are some ground rules for those that look to start trading

  1. Get involved in the market, watch read and listen to the news to understand what is happening
  2. Go through a trading course ( a good one is here)
  3. Open a demo account and trade at least a month (my advice to do this even longer)only on this before you even think about trading with real money.
  4. Check out social trading, there are some options for this, this broker offers this also.
  5. Try with an amount that you are able to afford losing. See this as your tuition money.
  6. Take it slow, don’t become greedy and follow the basic rules

Basic Rules (there are many more but start with these)

  1. The trend is your friend
  2. Don’t add money to a losing position
  3. Don’t trade on too many different currency pairs
  4. Trade only with a good broker
  5. Don’t open to many positions (no one needs 100 positions a day)
  6. Develop your strategy and stick to it.
  7. Know that NO ONE is 100% of the times right, everyone loses some.
  8. Last but not least, don’t trade with money you cannot afford to lose.

Now all that I want to say is good luck.  😊

 

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Wanted Cryptography Experts in China

 Wanted Cryptography Experts in China

The sooner we get to the official launch of China Digital Money. the more Cryptography Experts are needed.

it almost is surreal as they pushed against this from the beginning but now S China digital money may soon be a reality.

The Bank of China (PBOC) is hiring cryptography experts by the masses as reported by the South China Morning Post (SCMP)

this is the latest in the Chinese efforts to have a state controlled cryptocurrency for its own means.

The institution is one which worries a lot about the effect of investor activity in the cryptocurrency market. this in great contrasted to the directive issues in 2014 by the PBOC  that Bans any activity related to the cryptocurrency market.

Yet the Central bank of china started to build their own work force for building and developing their crypto in 2017.

something like if you can beat them , copy them.

in 2017 the Yicai Global reported that this targeted workforce would work from central Beijing as was to be names the  digital currency research institute

This research institute would primarily focus on the latest in digital currency technologies and all the different applications that would benefit from cryptocurrencies.

the former deputy director of the PBOC’s science department, Mr Yao Qiann would be in charge of the overall project

since then they are expending with opening a new research institute expanded in Nanjing . the idea for this center is to create more interest n the technologies and its possible applications.

the pilot programs are to be implemented by state controlled banks and academic institutions which should result in blockchain hubs that would attract new developing talent and additional capital to further develop the cryptocurrencies.

“Beijing’s ideal digital currency must ensure the smooth running of monetary and financial stability policies and at the same time protect consumers.”

Apparently, the ultimate goal for the Digital Currency Research Institute (DCRI) was to clear the path for a national cryptocurrency. Reports indicate that the fintech hubs will serve a purpose higher than initially believed. Reportedly, the hubs will serve as testing ground for China digital money. Here, the currency will undergo tests from prototype phase to future mass production.

and thus we get to the point that they are looking aggressively for new talent in the cryptographers and computer scientists sectors. now that more and more student have said good bey to the united states in the last couple of months after feeling they were less welcome this drive for finding new employment has only intensified and is answered by the large amount of brilliant young people coming back to live in chine after their education abroad.

The salaries are even higher then what they would have earned if they would stayed in the US and gone of to work in some of the companies in the Silicon Valley.

So we could expect that China is now also looking to become a world player in this industry as they have become the leaders in so many other fields.

 

 

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