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Forex Trading in Puerto Rico • Forex Strategies • Benzinga

With the U.S. dollar as a base currency and advantageous tax laws, Puerto Rico’s forex trading market has exploded in recent years. Are you interested in discovering more about how you can learn to trade forex? Our guide to forex trading in Puerto Rico will help you get started safely.

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With the U.S. dollar as a base currency and advantageous tax laws, Puerto Rico’s forex trading market has exploded in recent years. Are you interested in discovering more about how you can learn to trade forex? Our guide to forex trading in Puerto Rico will help you get started safely. 

Get Started with Forex in Puerto Rico

There are many international forex brokers accepting clients trading from Puerto Rico. Here’s how you can get started on your forex trading journey by opening a brokerage account online.

  • Step 1: Find a stable internet connection. A consistent, reliable internet connection is the most important tool you can have at your disposal as a forex broker. Make sure your desktop computer or mobile device is connected to the internet and that your connection is private and secure before you proceed.
  • Step 2: Choose a broker. Most forex traders choose to work with an internationally licensed broker offering services to clients in Puerto Rico. Compare a few brokers’ fees, available currencies and trading tools before you decide where you’d like to open an account.
  • Step 3: Download your trading platform. Though some brokers do offer their own proprietary platform, many also require you to download a 3rd-party trading platform like MetaTrader 4 or 5. Check to see if your broker offers its own platform before you choose which to download.
  • Step 4: Fund your account. After you open a brokerage account, you’ll need to add trading funds. Most brokers operating in Puerto Rico allow you to quickly fund your account with a direct bank transfer, but many also support the use of electronic wallets and debit card funding as well.
  • Step 5: Place your first order. Once you’ve funded your account and your funds are cleared, you can officially place your first order through your brokerage platform. 

Puerto Rico Forex Trading Strategies

There are 2 major types of forex trading strategies that traders use to determine which currencies to buy and sell: fundamental analysis and technical analysis. Because Puerto Rico uses the USD as its base currency, you can choose from both trading strategies and see profitable trades thanks to the high liquidity of the dollar.

Let’s take a look at a few of the differences between fundamental analysis and technical analysis, how each is used and what you’ll need for each trading strategy.

Fundamental Analysis

Traders who use fundamental analysis as their primary trading strategy focus on the underlying economic and political factors that can cause a currency’s value to fluctuate. Some factors that traders using fundamental analysis might consider before they place an order include:

  • GDP reports
  • Consumer confidence indexes
  • Non-farm payroll data
  • Trade balance sheets
  • Manufacturing indexes

Fundamental analysis can be popular with traders taking a long-term approach to currency trading and those who aren’t interested in learning the mathematical calculations required for technical analysis. To perform well using fundamental analysis, you must have a consistent, up-to-date source for international political and economic news. 

Technical Analysis

Traders who use technical analysis as their primary trading strategy rarely examine the political and economic statuses of the countries whose currencies they trade. Instead, they focus on charting patterns and volume changes that may indicate that a currency will change in value. Some factors that traders using technical analysis may focus on include:

  • Candlesticks that indicate a price reversal
  • Cascades of candlesticks that indicate a certain price movement
  • Volume changes that predict how a currency will move

Investors who use technical analysis typically take short-term or mid-term positions when trading. To get started with technical analysis, you’ll need a solid understanding of candlestick reading and a powerful trading platform. 

Forex Trading Example in Puerto Rico

Is it really possible to make money trading forex? Yes! No matter where you are, you can take advantage of movements in currencies to capitalize on changing values. Let’s take a look at an example of how you might make money trading forex.

You decide to open a brokerage account and fund it with $10,000 USD. You believe that the value of the Japanese yen will rise in comparison to the USD, so you decide to invest your entire lot of USD into the yen. Your broker offers margin trading and you choose to use 10:1 leverage — this means that you can purchase $100,000 worth of yen while only maintaining $10,000 in your account.

The yen is currently trading at $1 to 107.12 JPY. You convert your entire lot of USD (including your leverage) into JPY and are left with a little over 10.7 million JPY. Soon, you see that the USD is dropping in value. When $1 USD is equal to 107.01 JPY, you decide to sell. You exchange your entire lot back to USD and are left with about $100,196. After accounting for the leverage you used, you saw a profit of about $196 on this trade. 

Making Money with Forex in Puerto Rico

The government of Puerto Rico has taken multiple steps to make the country more inviting for day traders and traders who rely on capital gains as their primary source of income. Puerto Rico’s Act 22 (also known as the “Act to Promote the Relocation of Investors to Puerto Rico”) completely exempts individuals from paying local taxes on income generated from passive investment strategies so long as they reside in Puerto Rico for at least half of the year.

Introduced to draw high net-worth individuals to Puerto Rico and boost the country’s faltering economy, many investors consider Puerto Rico to be a tax haven. However, this lack of oversight and intervention comes at a price. Puerto Rico’s forex market is significantly less regulated than the markets of countries like the United States, Germany, Japan and others. This means that currency scams are more common.

It’s possible to make a profit trading forex in Puerto Rico, but you need to take steps to protect yourself and your finances. Observing the following safety best-practices can help you keep yourself safe.

  • Work with a licensed international broker. Most traders in Puerto Rico choose to work with an internationally licensed broker, which helps ensure that your deposit is back and protected.
  • Limit your margin usage. There are no legal limitations on the amount of margin you can use in Puerto Rico. However, you should make it a practice to use as little margin as possible to prevent yourself from falling into debt.
  • Practice on a demo account first. Many brokers allow you to practice your trading strategy using a demo account. Practice making trades and using your broker’s platform before you invest any of your money.

Best Online Forex Brokers in Puerto Rico 

There’s a general sentiment among many traders that forex brokers in Puerto Rico are unsafe and risky to work with due to a lack of government oversight. This isn’t necessarily true. Though forex scams and fraud are more common in Puerto Rico, investors can freely access registered international brokers. These brokers must adhere to international laws set by the United States, European Union and other regulatory authorities, providing an enhanced level of safety to Puerto Rican traders.

Choosing the right forex broker for your needs is incredibly important. Take a look at our list of suggested brokers before you open an account. 

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

Before you can trade forex, you need to understand the lingo. Forex traders have their own set of unique terminology they use to describe trades, orders and other parts of the market. Start by familiarizing yourself with a few of the most common terms listed below.

  • Pip: A pip is the smallest movement of any given currency value. In most instances, a pip is equal to 0.0001 of a currency. For example, if the USD moves in value from $1.0000 to $1.0001, we’d say that the value increased by 1 pip.
  • Lot size: Your lot size is the number of units of currency you’re buying or selling. For example, if you place an order to sell $10,000 USD, your lot size is equal to 10,000. Most forex traders consider 100,000 to be the standard lot size.
  • Orders: An order is a set of instructions you place with your broker when you want to execute a currency trade. Your order tells your broker how many units of currency you want to buy or sell, the price you’re willing to accept and more. Using multiple types of orders can help you automatically limit your losses and maximize your profits.
  • Calls: A call (or “margin call”) is a requirement from your broker to deposit more money into your account to maintain your position. Most of the time, you’ll be subject to a margin call only when the total value of your portfolio falls below a certain percentage and you’re using leverage. A single margin call can wipe out a significant amount of your profits, so be very careful when calculating how much leverage you can afford to use. 

Maximizing Your Profits in Puerto Rico

Puerto Rico’s advantageous tax laws for U.S. citizens were designed to help improve income from high-value traders and digital nomads. However, it’s important to remember that forex scams and crime are still regular occurrences in Puerto Rico. Work only with a licensed broker and never deposit more money than you can afford to lose into your forex account. 

Hire a Pro: Compare Financial Advisors In Your Area

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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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Statements about Cryptocurrency

Statements about Cryptocurrency

Cryptocurrencies are in a bubble and regulators could burst this at a whim.

  • Eight years after the introduction of Bitcoin, there are now over 900 cryptocurrencies and their prices are at all-time highs.
  • Richard Schiller categorizes bubbles as an underlying story driving the market forward, as opposed to the fundamentals of the assets. Cryptocurrencies are riding on a narrative of economic empowerment and freedom.
  • Despite the widespread attention that cryptocurrency receive, many of the actors involved in the market are not fully informed. Debate tends to turn to hype and naive investors are buying crypto-assets without fully understanding what they are.
  • Banks spend 73% of the market capitalization of Bitcoin each year on regulatory compliance. Crypto-assets are currently unregulated and free of these restrictions. As such, the market has thrived but also developed some bad habits.
  • Regulators cannot necessarily shut down cryptocurrencies, but they can restrict liquidity into them from fiat currencies and hamper their growth. The global derivatives market, for example, is worth $1.2 quadrillion, dwarfing Bitcoin’s $100 billion market cap.

Statements about Cryptocurrency

Market manipulations in crypto markets are undermining their credibility.

  • Due to low liquidity, no regulation, and a lack of clear understanding of the markets, pump and dumps are widespread in crypto markets. This is where a speculator can artificially sell while concurrently buying their own currency, wait for the market to rise, and then dump their holdings.
  • Frontrunning is also a common occurrence in ICOs, where early investors—who are used to show initial faith in the enterprise—buy discounted tokens before immediately selling them on.

As with historic bubbles, scams are exploiting naive investors.

ICOs can have the characteristics of vaporware. Entrepreneurs are raising hundred of millions of dollars purely on concepts. Money is being raised from investors who do not truly understand the technical concepts being proposed to them, let alone whether they are feasible.

  • The actual asset structures of ICOs are not only complex but also new forms of assets in their own right. This further confuses investors, which is compounded by the “FOMO” mentality of rushing into investments and following the crowd.
  • The use of celebrities to promote ICOs further demonstrates the use of manipulative marketing techniques used to cajole immature investors into participating in ICOs.
  • The current ICO craze is reminiscent of the South Sea Bubble of the 18th century, a speculatory period that involved crazed investment into enterprises in the New World. Once one of the highest valued companies of all time, the South Sea Company’s bubble burst and the company disappeared almost as quickly as it appeared.

Blockchains are still not proven technology, and more work is required.

  • Blockchains are still new concepts and their technology has not yet been proven on a consumer-wide scale. Attention should be focused on developing this, not speculating on short-termist projects.
  • The security of blockchains is a concept that most investors in crypto-assets do not understand. The onus is on them to protect their assets, which, on the basis of the amount of thefts and frauds in the space, is not being done properly.

There are some solutions to these issues.

  • A less polarized mentality of “us against the world” is needed; this could be enforced by the promotion of self-regulatory standards. These could also help to highlight the bad actors in the ecosystem.
  • More development is required into the underlying technology of blockchains. In the long run, this would be far more valuable than ICO moon-shot projects.
  • Awareness and discussion needs to be promoted. Conferences should present balanced debates from both sides of the crypto-view and more emphasis should be placed on educating investors instead of soliciting their investments.

Originally Published here at https://www.toptal.com

Statements about Cryptocurrency

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CMStrader Signals provider, the number 1 signal provider 4 years in a row

CMStrader Signals provider, the number 1 signal provider 4 years in a row.

CMStrader, the number 1 signal provider 4 years in a row, is now offering free signals to new clients!  Reliable trading tools are fundamental part of successful trading.

cmstrader for the Best Trading Signals

cmstrader for the Best Trading Signals

 

CMStrader’s signals success rate is estimated in 91% this should be enough to take a look and decide for yourself. since this is their biggest feature and drives this broker towards success, it is opretty afe to say that they do their utmost to provide you with quality forex signals.

This broker also entered the cryptocurrency market and offers several cryptocurrencies.  in short they act on the market and engage their clients directly.

when you start trading at CMSTrader, you can choose from a extended list of currencies, indices, commodities, gold and oil.

CMStrader Signals for better Trading

CMSTrader sends trading signals to traders’ accounts when there is an opportunity to buy or sell orders at specific points; an overview of the speculated price or loss ratio is included.

CMStrader Signals the number 1 signal provider among brokers

CMStrader Signals the number 1 signal provider among brokers

The signals are sent directly via SMS to a cellphone for major currencies traded on the stock exchange, foreign goods and precious metals.

In addition, signals can be sent to an e-mail address and or traders can be notified directly over the phone.  This service is available 24/5.

Like with Most proper signal services don’t expect 50 signals a day as simply there are not that many. you will get maybe a few good ones a day on which you could and most of the time should act.

Earn profits with CMStrader Signals in the forex market – the biggest trading scene in the world. Enjoy our unique benefits, trading education, minimum margin and best leverage! Start with a demo account and enter the amazing world of forex with CMStrader.

More about CMStrader Signals & Forex Broker

  • Name :CMSTrader
  • Website :cmstrader.com
  • Established :2013
  • Regulation :FSP
  • Country :United Kingdom
  • U.S. Clients Allowed ?  :No

CMSTrader is a leading investment advisor specializing in personal wealth management and growth and is a somewhat a newcomer to the Forex market.

they started in 2013 and since then have won several awards 2 including one for having best customer service in 2013.

CMSTrader “CMStrader Signals” is authorized under the name of CMS Ventures Limited which is a New Zealand Registered Financial Service Provider (FSP).

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