Connect with us

news

Forex Trading in Lithuania • Forex Strategies in 2020 Benzinga

If you want to operate in a well regulated and straightforward retail forex market, you can do so from Lithuania. As a member of the European Union (EU), forex trading and broking activities in Lithuania are regulated through the EU’s European Securities and Markets Authority (ESMA), the Markets in Financial Instruments Directive II (MiFID II),…

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

If you want to operate in a well regulated and straightforward retail forex market, you can do so from Lithuania. As a member of the European Union (EU), forex trading and broking activities in Lithuania are regulated through the EU’s European Securities and Markets Authority (ESMA), the Markets in Financial Instruments Directive II (MiFID II), the Markets in Financial Instruments and Amending Regulation (MiFIR) and the Central Bank of Lithuania itself. The country keeps an official list of the companies that have been given the privilege to do business within its borders. If a company is not listed, the country strongly recommends “not making use of its services.”

History.com – The euro replaced the Lithuanian lita as the official currency in 2015.

The Lithuanian government also took the time to produce an in-depth guide of warnings for retail forex traders, especially since most such traders lose money. The Bank of Lithuania advises that investors steer clear of opaque investments, do business only with properly licensed companies and steer away from “easy money” and no-risk proposals from brokers.

Get Started with Forex in Lithuania

There are plenty of resources available within Lithuania for the beginner currency trader. All traders are advised to look through the Central Bank of Lithuania’s website and follow the suggestions below for opening a forex trading account.

  1. Connect to the web.  The internet infrastructure in Lithuania is quite good in the country’s developed areas. Forex traders should be able to access sufficient affordable bandwidth to handle the trading platform, websites and trading tools that sophisticated forex traders may need to use.
  2. Connect to your broker.  Located in the Baltic area of Eastern Europe, Lithuania is a member of the European Union (EU). Forex brokers that accept Lithuanian clients must abide by the MiFID regulations of the EU. Pay close attention and stick to trading through major brokers that are overseen by a reputable regulatory agency and have a good online track record regarding dealing fairly with their clients.
  3. Choose an appropriate account type.  Most brokers offer several different account types. Choose one that best fits your initial deposit amount and trading needs. 
  4. Fund your trading account.  To fund your trading account, you will typically need to transfer money from your bank through a bank wire, make a credit or debit card payment or use an electronic payment service provider such as PayPal or Skrill.  
  5. Connect your trading platform.  You’ll need to download your broker’s proprietary trading platform or a 3rd-party trading platform your broker supports, such as MetaTrader or cTrader. Many forex brokers now offer a mobile trading option and a web-based platform that doesn’t require you to download software. 
  6. Make your first trade.  Now you’re ready to make your forex trade. You may want to practice trading in a demo account first to test out your trading strategy before operating in a live account. 

Lithuania Forex Trading Strategies

The way that you trade forex is unique to you. Be aware of how you react to stressful situations before committing large amounts of money to the market. Your personality will often determine what kind of trader you become. Take a look at the following profiles to see which one you match.

Day Trading 

Day traders usually need to take advantage of market opportunities quickly. Typically they trade in and out of positions throughout the trading “day” or session, although the forex market trades around the clock from 5 p.m. Sunday EST to 5 p.m. Friday EST, so the forex day trader must select the session they trade in. The London, New York and Tokyo trading sessions are typically selected by day traders and each have time slots corresponding to the standard business hours in those key money centers. While day trading covers a wide variety of trading strategies, these traders typically close out all positions before the end of the trading session. This means that they hold a position for a few minutes or a few hours but not overnight.

Swing Trading

Swing traders aim to profit from trends, corrections and ranges in a currency pair to determine optimum entry and exit points for their trades. They generally watch technical momentum indicators for signals of a market reversal that they might profit from. Many swing traders also watch for chart patterns and key levels of support and resistance to appear on the chart of a currency pair’s exchange rate to inform their trading. Unlike day traders, swing traders often take positions overnight that can be held for days or weeks in some cases. 

Position Trading 

Position traders take the long view on the direction of a currency or pair against a basket of other currencies. For example, a position trader that has a bullish view on the U.S. dollar might sell the EU euro, the British pound sterling and the Japanese yen against the U.S. dollar to reflect their view. Position traders can patiently hold positions for months or even years depending on whether their view of a currency pair remains firm. Position traders typically trade less frequently than swing or day traders due to their long-term trading horizon, and they tend to be more focused on a currency pair’s fundamentals to inform their position-taking. 

Forex Trading Example in Lithuania

The bid/ask spread for the EUR/USD currency pair currency stands at 1.1800/1.1805. You decide to take a long €45,000 position in the pair at 1.1805 to wait on a short-term move up. Your online broker allows you to use leverage of 30:1 in EUR/USD and requires you to have at least €1,500 in cash in your trading account as collateral in case you lose money. 

After 15 hours, the EUR/USD bid/ask quote is 1.1825/1.1830. The exchange rate for the pair increased by 20 pips allowing you to sell out your position at 1.1825. You get (€45,000 x 0.0020)  or $90. Had the market instead fallen by 20 pips, you would have lost that same amount of dollars. 

Making Money with Forex in Lithuania

Medium

There are a number of strategies and trading vehicles that you should know about when considering operating in the forex market, starting with those listed below. 

  • Short selling: Taking a position in which you have net sold the base currency in a currency pair because you think its exchange rate will decline. For example, if you want to go short the EUR/USD currency pair, you would establish a trading position in which you have sold the euro against the U.S. dollar. If you instead want to buy the euro against the dollar, then you could go long the EUR/USD currency pair. 
  • CFDs: Contracts for difference (CFDs) consist of contracts whose value depends on that of underlying assets and which lets traders avoid taking positions in the underlying market itself. Some online brokers let you trade forex CFDs, as well as CFDs on other assets like stocks, indexes and commodities.  
  • Binary options: Binary options consist of exotic derivative contracts that give the holder the opportunity to pay a fixed premium in exchange for a fixed payout if some specific market condition occurs on or before the option expires. The European Securities Market Authority, the regulator for financial markets in the EU, put in place “product intervention measures” that effectively ban brokers based in the EU from offering binary options trading to residents. As a result of these changes, traders based in Lithuania looking to trade binary options will probably need to find a binary options broker based outside of the EU. 

Best Online Forex Brokers in Lithuania

Forex traders in Lithuania and the EU have access to some of the best online forex brokers in the business. The retail forex market is well regulated and trading opportunities are numerous.  Choose from among brokers that are licensed by reputable regulatory bodies to avoid losing your margin deposit to fraud.

Forex Terminology

It makes sense for most traders to learn the basic jargon of the currency marketplace before starting to operate in the market. 

  • Pip: Stands for “percentage in point” and is the minimum movement in an exchange rate of a particular currency pair. Corresponds to a shift of 0.0001 for most pairs. 
  • Lot size: A standardized unit for trading. The standard lot size at most online forex brokers is 100,000 base currency units. 
  • Orders: Instructions to a broker that detail the specifics of a trade you want to make so that they can execute it on your behalf.
  • Calls: Derivative option contracts that give you the choice to buy an asset at a specific price on or before a future expiration date, although you don’t have the obligation to do so. Puts, on the other hand, give you the right to sell an asset. Because of the nature of currency pairs, where the underlying asset consists of an exchange of currencies, currency options are all both calls and puts. 

Is Trading Forex from Lithuania for You?

The Lithuanian economy is growing steadily, in part because of its inclusion in the Eurozone, and residents of the country have the security of using a major currency like the euro. Forex trading is available to residents of Lithuania, so you should be able to find an online broker who will take you on as a client. 

While learning how to trade forex may seem relatively easy, profitably trading forex currency pairs can take a lifetime to master, so trading in a demo account to develop a consistently profitable trading strategy makes sense before putting real money at risk. For more information about forex trading, bookmark our website. We pride ourselves on bringing you actionable and up-to-date advice relevant to forex traders.

Continue Reading
Advertisement

news

Online Trading platform SIRIX

best-forex-demo

SIRIX|  Online Trading platform SIRIX Review

[yasr_overall_rating]

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

Continue Reading

news

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.

Continue Reading

news

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.

events around the globe

Continue Reading

Trending