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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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RoboForex adding EOS Cryptocurrency

RoboForex adding EOS Cryptocurrency

RoboForex announced today adding EOS, a cryptocurrency which is now available for trading with the broker on both MT4 and MT5 platforms.

Roboforex added EOS CryptocurrencyCurrently, RoboForex clients have 7 crypto instruments to choose from.

RoboForex keeps expanding its crypto portfolio.

The latest addition is EOSUSD, which is already available to the clients through MT4 and MT5, alongside with six other crypto pairs:

BTCUSD, ETHUSD, BCHUSD, DSHUSD, LTCUSD, and XRPUSD.

The EOSUSD trading conditions are the following:

  • minimum lot size: 100,
  • minimum increment: 0.01,
  • leverage 5:1.

EOS is a cryptocurrency that was introduced in 2017 and is based on blockchain and smart contracts. Its key features are scalability, decentralized apps, and huge throughput (a few million transaction per second).

This is another step towards developing our crypto portfolio.

Our clients do value the flexibility and state of the art technologies we offer them As for us, our mission is meeting their expectations and constantly improving the trading conditions by opening the door to new instruments and opportunities.

says Denis Golomedov, ;Marketing Director at RoboForex.

Roboforex and Cryptocurrency

This Broker has been on the forefront of crypto trading on the Metatrader 4 and Metatrader trading platforms from the beginning and pushing for more and more trad-able assets to be added to their offering .

it took this broker a little bit of time but now that they got them selves into the cryptocurrency trading arena they come to lead the pack. this in combination with their the trading platforms they are offering makes this a broker to take notice of.

as yet there are not enough brokers that offer metatrader 5 and especially one where you are able to trade bitcoin ethereum, litecoin and now also EOS.

About RoboForex

RoboForex is a brokerage company catering to clients from various countries. The broker’s focus is providing the traders with access to its own financial market platforms.

RoboForex Ltd is a licensed company (License No. IFSC/60/271/TS/17).

 

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Local bitcoin Trader Jailed for Money Laundering

Indicted: Local bitcoin Trader Jailed for Money Laundering

Local Bitcoin trader, Theresa Lynn Tetley, also widely known as Bitcoin Maven has been indicted for indulging in illegal bitcoin-for-cash transactions. According to the Central District of California, the LocalBitcoins.com trader has been sentenced to 12 months in prison.

She has also been handed a three-year supervised release and a $20,000 fine. A former real estate investor and stockbroker, the court ordered her to relinquish $292,264.00 in cash, 25 assorted gold bars, and 40 bitcoin.

money launderingTetley pled guilty to one count of operating an unlicensed money exchange business, and another related to money laundering. Her case is the first of its kind in the Central District of California.

Tetley was procedurally supposed to register her business with the Financial Crimes Enforcement Network, an agency of the United States Department of the Treasury.

The agency is responsible for analyzing transactions to curb money laundering and related financial crimes. She also failed to implement standard anti-money laundering protocol, including reporting of certain financial sources as per the requirements of this type of business.

Tetley is said to have traded over $6 million for clients within the United States and charged higher rates as compared to other traders within the LocalBitcoins platform.

Also noted in the court documents was that Theresa Lynn laundered bitcoin for a customer who had been suspected of having acquired the cryptocurrency through illegal activities, including drug sales on the dark web.

She also carried out a bitcoin to cash transaction for an undercover agent who had explicitly declared that his bitcoin was tied to narco-trafficking operations.

According to the report, Tetley’s service was responsible for fueling the growing use of cryptocurrencies to launder money and supported a black market system set up purposely to circumvent the law.

The organizations involved in her investigation included the IRS Criminal Investigation and the Drug Enforcement Administration.

Just One of Many

That said, the government has been committing significant resources to counter the crypto – dark web menace, and earlier this month, a major sting operation was carried out against a major money laundering network. Thirty-five suspects were arrested.

One individual, identified as John Edward Monette, was charged with Conspiracy to Distribute a Controlled Substance. He was also alleged to have carried out numerous bitcoin for cash exchange transactions on the dark web, most of them in 2017 and totaling about $19,000.

Another dark web vendor busted during the operation, Ryan Farace, 34 was indicted for being involved in an alprazolam tablets manufacture and distribution scheme.

He sold the drugs on the dark web, with all transactions being made in bitcoin. Additional digital currency money laundering transactions were made to conceal the sources.

Article Originally Published:

By ELIZABETH GAIL at Coincentral

 

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Why You Need to Get Onboard With Blockchain!

Why You Need to Get Onboard With Blockchain!

Blockchain tech – so revolutionary in nature that some are calling it the “new internet.” It has applications in just about every industry, and has completely altered the way we think about internet security, the processing of information, and the speed of transactions.

Blockchain is the technology that supports the digital currency  or cryptocurrency called Bitcoin –

however this is not what it is really about as it has a far wider scope of applications and is being commercialized in a growing number of areas.

It has generated much interest in technology circles and beyond, because of the new possibilities it opens up in financial services, the public sector and other areas.

According to sites like BitFortune.net, blockchain tech is definitely worth keeping an eye on due to the myriad of benefits it provides.

Blockchain and Bitcoin are not the same thing – Bitcoin is implemented using blockchain technology, but blockchain technology can be used in contexts much wider than Bitcoin or other cryptocurrencies. so when we are talking about the blockchain we are talking about a combination of a number of technologies, these including:

  • Distributed ledgers.
  • The blockchain data structure.
  • Public key cryptography.
  • Consensus mechanisms.

Part of what makes it so exciting is that it is completely open source. As a result, there are already a number of interesting blockchain apps, and the number is growing daily.

The technology is so secure that it is already being used by DARPA to secure military data. Various governments around the world are working on ways to use the tech to protect their own data.
The tech is tamper-proof, and the data stored within it is permanent. It cannot be erased or altered, and this is what makes it so enticing to those needing more secure networks.

But there is more, folks. (Okay, so that sounds a bit like an infomercial, but the benefits are real nonetheless.) Transactions can speed across the network – taking only as much time as it takes for them to be authorized.

The blockchain cannot be described just as a revolution. It is a tsunami-like phenomenon, slowly advancing and gradually enveloping everything along its way by the force of its progression.

William Mougayar

The system runs without the need for an intermediary, and this reduces the time it takes to execute transactions. This, and the unique way that the tech works, means that costs are significantly reduced as well.

What makes it so revolutionary is that the information is spread across every computer within the network. With Bitcoin, that means the data is securely “backed up” over thousands of computers.

Now, it is unlikely that banks will entrust their data to a public network in the same way, but they have been working on creating networks of their own instead.

The potential savings in terms of cost and time are extensive. If you want to learn more about these savings, check out the infographic below.

 

Why You Need to Get Onboard With Blockchain!


Why You Need to Get Onboard With Blockchain!


Visit bitfortune.net . for more interesting Infographics

Guys did an amazing job and was allowed to share.


 

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