news
How to make money with Forex during Covid 19 Lockdown – Sandton Chronicle
Coronavirus is on everyone’s lips. And the biggest worry, apart from the potential illness affecting us or our families, is how we are going to stay financially afloat. Self-isolation and quarantine are devastating economies around the world. But it doesn’t mean that making money is impossible.


Coronavirus is on everyone’s lips. And the biggest worry, apart from the potential illness affecting us or our families, is how we are going to stay financially afloat.
Self-isolation and quarantine are devastating economies around the world. But it doesn’t mean that making money is impossible.
Traders and those who are interested in becoming traders, have the unique opportunity to make money now. Equipped with an internet connection, traders can continue as usual, while playing their role in preventing the spread of COVID-19 by staying in isolation.
For those who don’t know, Forex is a decentralised financial market that has become the money-making playground for all sorts of traders. Anyone who is looking to make some extra money, can do so remotely, while trading Forex.
The great thing about Forex trading is that anyone can become quite successful at it and once the pandemic passes, you can still enjoy the financial rewards of this style of trading.
If, while you are isolating you are looking to become a Forex trader, there are a few ways that you can go about it.
How to become a Forex Trader
To start with, you will need an internet connection. And a reliable one at that. Forex trading is not only done online but most of the tools you will need are also hosted online. There are offline tools but they are not the same as they don’t automatically update stats and news, and are therefore not exactly the best quality.
You will then need to set up a Trading account or get in contact with a Forex broker support team, that can assist you to open your account.
If you are going to spend your downtime learning everything you need to know to understand Forex, you should start by reading up as much as you can about the industry or by taking on an online course, of which there are many.
It doesn’t take long to grasp the basics, and while it is an ever-changing industry, the basic principles of Forex stay the same.
Learn everything you need to know about CFD Trading.
Getting Started
Once you opened your account, you can start building your knowledge. There are many Brokers out there offering Forex accounts, so it is important that you make sure you select the right one, that’s trusted in the industry, and also Licensed under the FSCA.
Accounts can be applied for online, and while you might have to wait for them to be approved, it shouldn’t take long for your account to be set up. You will have to provide certain information as well as confirm an email address before you can proceed.
The next step will be to create a demo account, which you can use for practice while you are learning the ins and outs of the industry.
No one can say that the field of Forex trading is not exciting. Prepare yourself for some profitable boredom. Read more about the best forex broker platforms for beginners.
Even though economic times are uncertain at the moment, and the future after this period is looking just as bleak, many South Africans are utilizing trading on the financial markets to create additional income. Now is without a doubt the time to start, especially if you are out of work for the next few weeks.
The fantastic thing about Forex trading is that the amount of capital input is low, and you will enjoy flexible trading hours, which you can continue to follow once the lockdown period has passed. Another benefit is that the risks associated to Forex trading are also considered to be quite low, as long as you make good decisions.
Quarantine shouldn’t necessarily be considered an unplanned, mini-holiday, instead you should make sure that you use your time wisely and learn as much as you can about the field of Forex trade and look into other types of investment opportunities while you are at it.
The information and knowledge that you will gain during this time will come in immensely helpful in the long run.
news
Forex Trading Knowledge Questions and Answers


Table of Contents
Forex Trading Knowledge Questions and Answers
What Is A Demo Account?
Demo accounts enable new investors to test their ideas and learn how to use trading technologies without risk. Users can use the demo account to trade with simulated money and see what their returns would be if they traded with real money. Demo accounts are often used in schools and universities to teach investing and compete in trading competitions.
Demo accounts are commonly used by stock traders, currency exchange traders, and commodities dealers, but not by long-term investors. A demo account is less effective since the longer it takes to produce earnings from an investment, the more time it takes away from compounding real money.
How Does A Demo Account Work?
Using demo accounts, investors can practice trading on a platform without putting their own money at risk. You will not be exposed to the dangers associated with live trading platforms on a demo account. As a result, you can learn how platforms work without putting your money at danger.
A demo account guarantees that you will not lose money, but it also guarantees that you will not make money. To reduce risk when trading on the real market, traders must learn discipline and establish techniques.
How to Open A Demo Account?
In general, opening a demo trading account is pretty simple. Choose a Broker – Most brokers provide demo trading interfaces to help you become acquainted with the features and create techniques. Choose which broker to use initially.
Registration is necessary, and you must provide your personal information. Name, address, and financial information will be requested. Your identification will almost certainly have to be validated as well.
Once you’ve decided on a broker, you can install MetaTrader4. Once you have decided on a broker, you will require a trading platform. MetaTrader 4 and MetaTrader 5 are the most popular trading platforms.
You will obtain login details after registering with a trading program. You will be able to open an account.
How Long Do Demo Accounts Last?
Traders can use a demo account to test out a program for up to three months before deciding whether to purchase the complete edition. The three-month term is basically offered to guarantee that the prospective buyer has enough information to make them desire to buy.
Why Is It Necessary to Open A Demo Account?
Traders can use a demo account to test out a program for up to three months before deciding whether to purchase the complete edition. The three-month term is basically offered to guarantee that the prospective buyer has enough information to make them desire to buy.
What Are Advantages of A Demo Accounts?
Demo accounts are an excellent method to learn about various trading tactics and software. Paper trading is a lot safer way for a beginner investor to make technical mistakes than real trading. Investors can benefit from the customised trading software provided by each firm.
A demo account lets you to test methods without risking any money, whether you are a novice or an experienced trader. Trading on a demo account allows the trader to test the approach before trading with real money.
Even though many traders begin with equities, commodities and Forex can be profitable. The same strategies, however, may not be applicable in all three asset groups. A demo account allows experienced traders to experiment with several asset classes.
The Differences Between Demo & Live Accounts
A forex demo account is distinct from a genuine account in that it is utilised as a training account for traders to practise trading without putting real money at risk. Real accounts, on the other hand, use actual money, and traders put their own money at risk. A demo account enables users to trade with fictitious money in order to imitate the earnings they would receive if they traded with real money. Demo accounts are often used in colleges and institutions to teach investing and compete in trading competitions.
However, studies have shown that even if a person has obtained extensive trading expertise through the use of virtual accounts, things may turn out differently when real money is involved. Because you are not putting anything at risk is more accessible when dealing with virtual money than when trading with actual money.
Can I have Multiple Forex Demo Accounts?
You may be able to open up to five demo accounts depending on the broker. Some, however, provide up to 19 demo accounts. There is no way to predict how many demo accounts are available at any particular time. All brokers do not limit the number of demo accounts.
If your broker has a demo account limit, you can contact their customer service via email or live chat to request more demo accounts.
There are brokers who will only allow you to open one account of each type per email address.
As a result, you are not able to establish any additional accounts until you give them with another email address or open a new account. Traders do not benefit from this practise because it requires them to spend their resources on opening new accounts rather than allowing them to open as many as they like.
In most circumstances, you won’t need more than five accounts, and depending on your plan, one may enough.
In any case, you should practise on a demo account until you are really proficient.
Is A Demo Trading Account Free?
Demo platforms are usually free. There is no risk of losing money because you will not be dealing with real money. As a result, there are no deposits, withdrawals, or training fees involved.
How to Choose Forex Accounts?
Different accounts have different settings. Before you open a trading account, you should answer the following questions:
How much money do you want to put down? You should keep in mind that trading with money you cannot afford to lose is not a good idea.
What is your level of risk tolerance? If you are a cautious trader, you can open a micro account and trade micro-lots. However, if you wish to trade more aggressively, you should open a regular account.
Do you require any specialised equipment? Many forex brokers provide their best trading tools to its professional clients, which may include cutting-edge news analysis or access to a diverse set of indicators.
Once you’ve determined what kind of trader you are, your trading objectives, and your risk tolerance, you’ll be able to choose which account is best for you.
Can I Take Money Out of a Demo Account?
Unfortunately, the answer is no. Demo accounts are only for practise purposes. You do not deposit anything because the account is not funded with real money.
As a result, any profits you would have made would be ineligible for withdrawal.


Forex Trading Knowledge Questions and Answers
news
AvaTrade introducing 3 new crypto pairs


AvaTrade introducing 3 new crypto pairs – updating 3 others
AvaTrade has yet again improved their cryptocurrency trading offering.
AvaTrade is introducing three new cryptocurrency pairs: NEOUSD, EOSUSD & MIOTAUSD in addition to the 15 crypto assets already on offer.
These new pairs have been available since July 1st, 2019 and provide an excellent opportunity to diversify your clients’ portfolios and increase their exposure to this vibrant 24/7 market.
Asset | Typical Spread | Leverage | Margin | Min Nominal Trade Size |
NEOUSD | 1.5% Over-market | 2:01 | 50% | 10 |
EOSUSD | 2% Over-market | 2:01 | 50% | 10 |
MIOTAUSD | 1.5% Over-market | 2:01 | 50% | 10 |
To unify their cryptocurrency instrument labels, They are relabeling their existing Ethereum, Ripple & Litecoin instruments, by replacing the existing instruments with new USD labelled ones:
Asset | Old Symbol | New Symbol |
RIPPLE | XRP | XRPUSD |
ETHEREUM | ETH | ETHUSD |
LITECOIN | LTC_Mini | LTCUSD |
These new pairs have also been available since July 1st,
The trading conditions for each one is identical to those of the older respective assets they replace.
Effective immediately, new positions are only available on the new pairs.
Avatrade Clients will not be able to open new positions on the old assets, but those already open will remain unaffected until July 29th.
Existing positions on XRP, ETH and Litecoin-mini that remain open on July 29th will be automatically replaced with corresponding positions on the new pairs, , at the same opening price and at no cost to clients.
as any broker that values their clients would do , Avatrade makes sure that the clients will not be affected by the change.
news
Neteller Launches Cryptocurrency Exchange Service


Table of Contents
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
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
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
- Videos Of interest3 years ago
Lesson 2 – Pair characteristics (the majors and the crosses), Understanding Forex Pairs
- Videos Of interest3 years ago
Lesson 1 – What is Forex and how does It work
- Videos Of interest3 years ago
What is Price Action Trading and How to Use it
- Videos Of interest3 years ago
Lesson 3 – Introduction to charting
- Videos Of interest3 years ago
How to Recognize False Breakouts
- Broker news3 years ago
FX Broker ActivTrades Wins the “Le Fonti Forex Broker of the Year Award”
- Videos Of interest3 years ago
4 Things to Always Do Before You Start Trading
- Broker Reviews3 years ago
NSFX Demo Account Review | 2018 Must Read |