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Forex trading: Understanding account types and differences

Instaforex: See what different account options are available to FX traders  There are a number of different account types available in the FX sphere and this article will run you through some of the most popular account options there are and outline some of the key advantages and disadvantages.

Instaforex: See what different account options are available to
FX traders 

There are a number of different
account types available in the FX sphere and this article will run you through
some of the most popular account options there are and outline some of the key
advantages and disadvantages.

The first account type we will discuss
is the entry point account that all traders begin with; the demo account.

Demo account, the entry account for
all traders

A demo account is a brilliant way to
start trading and is offered by virtually all brokers. This is a demo or
‘virtual’ account that gives you a nearly identical experience of trading, but
without the risk of losing capital,

Advantages

Trade with
liberty: The absence of capital risk means
that you can trade with freedom. You can allow trades to develop exactly the
way you want them and practice following

Forgiving of
mistakes: If you lose your demo account, you
can just re-set it and start again. All capital risk is artificial and without
consequences to your income or lifestyle.

Disadvantages

Easy to trade incorrectly:
You can misuse a demo account by not treating it as a demo. The whole point of
a demo account is to trade it with liberty and freedom. Trading it like a real
account will not allow you to practice the necessary skills you need for your
longer-term trading development. 

Advantageous spreads: Sometimes a demo
account will give you unrealistic spreads and fills. Real market conditions may
be radically different to the artificial demo account environment.

Mini trading account

A mini trading account allows you to
start investing in trading Forex with a small personal investment up to about
$500. You can then use leverage, with some brokers offering high levels of
leverage, which would enable a trader to access a large trade size relative to
the capital in their account. Here are some of the advantages and disadvantages
of the mini account.

Mini car

Advantages

Small
capital at risk: the key advantage of this type of
account is its accessibility. Many traders are easily able to afford this
account and the use of leverage means that, for the experienced trader, some
money can still be made on a comparatively small initial outlay.

Low risk: This is an excellent option for beginner traders who would
like to try and graduate from a demo account. A mini account offers a great
first step to graduate from a demo account and begin to experience the emotions
involved with a live account

Risk
management: The skills needed to manage risk on a
large account can be practiced here on the mini account. The reality is that if
you can manage your risk responsibly on a small account then you can do exactly
the same on a larger account

Disadvantages

Limited
gains: Although an excellent entry into the
forex trading world, you are not going to be able to make a living trading a
mini account.

Standard trading account

The most common trading account which goes from around $1000 up to around $10000.
Different brokers require different capital requirements in order to open a
standard account. Again, let’s go through the different advantages and
disadvantages of this account

Advantages

Potential
for genuine gain: The larger deposit size, coupled
with the use of leverage does allow for a potential larger gain.

More
services from the broker: The greater commission generated
from the standard trading account means that the broker is motivated to keep
their client trading successfully with them. A number of brokers will offer
additional services for standard account holders.

They may include, but are not limited
to, a provision of an educational service, a dedicated account manager, access
to professional FX services and a cash bonus deposit bonus.

Disadvantages

Potential
for significant loss: However, the use of leverage and
larger capital requirements means that this is only suitable for experienced
traders. Trading takes time and rushing it will end in some kind of disaster,
sooner or later.

Larger
capital requirements: 
Minimum capital requirements in opening a standard FX account varies
from broker to broker. Expect minimum requirements to sit somewhere between
$2000 – $10000.

Managed trading accounts

This is a trading account where you
provide the capital requirements, but another trader, or robot, executes the
trades. There is an increasingly varied way of doing this from social trading
platforms, to professional FX traders and in-house broker services which link
other traders to your account automatically.

Once again there are pros and cons of
using a managed service. Here are some of the key advantages and disadvantages

Advantages

Potential
for profitability: If you are unable to trade
profitably, having someone who can trade for you can mean that you are making,
rather than losing, money in your account.

Get away
from the screen: Trading can be absorbing, and time
consuming, Having someone else trade for you means that you gain freedom to do
something else

Disadvantages

The price of
freedom: You will obviously have to pay a
premium to have someone else manage your account. This could be paying via a
monthly subscription, a profit share basis or some other commission structure,
either way, it is a luxury you will have to pay for

Placing your
trust in someone else: Ultimately, whether it is a man or a
machine, you will be putting your trust in something other than yourself. This
can mean that the good trade you can see may not be taken. It also means that
you may incur large losses due to human or machine error.

It can be hard to accept losses that
comes this way and some people prefer to have their own control over their
account at all times.

A couple of closing points

Metatrader 4, Metatrader 5, and web
trading

Some accounts offer access to MT4 or
MT5 accounts. The main difference between MT4 and MT5 accounts is that the MT5
platform has a wider range of instruments, including currencies, but also
including stock CFD’s.

Web trading options can be good, but
you need to check that platform is reliable. MT4 has been around for years and
has been proven over time.

Different spread options

Some brokers will allow you to pay
commission in different ways, as suits your trading style. So, for example, you
may have the option of a fixed spread. This means that you know in advance the
cost of trading a particular currency or instrument.

The cost is fixed for each trade you
take. By contrast, a variable spread option will give you a variety of prices
throughout a trading day. The price available to the broker is constantly
changing, so a variable spread reflects that change.

A raw spread option would be where you
pay the minimum spread, but you pay a round commission on the trade. So, it
could be something like, $5 per round commission plus the raw market spread.

Which is best? It depends on your
trading style, trading volume and time you trade. If you trade during busy
market times then a variable spread would be good for you. If you only ever
trade in the quiet Asian session then a fixed spread will probably be the best
way to go.

This
article was submitted by
Instaforex.

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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

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Who Will Speak at Blockchain & Bitcoin Conference Stockholm?

Who Will Speak at Blockchain & Bitcoin Conference Stockholm?

Bringing DLT Specialists Together:

 

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

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

Key speakers:[yasr_overall_rating]

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

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

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

Meet the speakers at the Blockchain & Bitcoin Conference Stockholm

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

See the full list of Key speakers here

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

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

Blockchain & Bitcoin Conference Stockholm

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

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Go Visit the Blockchain & Bitcoin Conference Stockholm

Go Visit the Blockchain & Bitcoin Conference Stockholm

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

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

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

Event goals:

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

Conference topics: 

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

Speakers:

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

Meet the speakers at the Blockchain & Bitcoin Conference Stockholm

who should not miss this Event :

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

why should not miss this Event :

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

Prices of the Event

Standard ticket  – 240 EUR

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

Student ticket – 121 EUR

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

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

Buy Your ticket Now


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

events around the globe

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