Connect with us

Industry News

Trade with ForexTB: A newbie’s 101 guide!

Did you know that opening a Forex/CFD trading account is easier than you thought? You just need to know a few things first before you get started, like for example finding the right broker. Let’s assume that you’ve done your research and found ForexTB! A Cyprus-based broker offering online trading in forex and 300+ other…

A step-by-step guide to get your trading journey underway

Did you know that opening a Forex/CFD trading account is
easier than you thought? You just need to know a few things first before you
get started, like for example finding the right broker.

Let’s assume that you’ve done your research and found
ForexTB! A Cyprus-based broker
offering online trading in forex and 300+ other CFDs, along with loads
of resources that can help you on your baby steps in becoming an expert trader
and make the right trading decisions.

But how and when do you start trading?

If you’re a newbie and have no experience in the trading
world, you should consider opening a demo account! Don’t take it as an insult;
we just want you to practice a bit, before taking the big step and start
trading with the giants out there!

A Demo
account
is considered as a “Trial account”, which will allow you to experiment and trade with virtual money,
as well as trying different trading techniques, before setting up a real account with actual money. Don’t worry it is free, and you can
“play” around risk-free and under real
market conditions
! How cool is that?

Fast-forward to the day you’ve mastered trading.
You’re all excited to have passed your “test” and you’re ready to enter the real
trading world.

Once you feel confident, don’t you think it’s time to open a
real account, with actual money?
Usually, traders compare the commissions or other fees that might be charged by
brokers for offering their services (i.e: spreads, commissions etc.). Thankfully with ForexTB you
don’t need to worry about that. ForexTB offers
0% on trading commissions and no
fees on deposits when opening an account
.

The steps involved when opening an account
may be different from broker to broker, but the process with ForexTB involves
the following 4 easy steps:


1. Register
2. Deposit
3. Verify Your Account
4. Start Trading

Once your application is complete, you’ll be registered with
a username and a password allowing you to access your account.

Then it’s time to sort the transfer of funds from your bank
to your trading account. This is usually executed via your credit/debit card or
electronically via a bank transfer.

Millions of traders, before or during trading wish to
advance their knowledge and skills. Meta Trader 4 (MT4), is a trading platform
(well, the most popular one!) that allows traders to monitor the market and
have a better decision when it comes to opening positions on Forex pairs and
other CFDs. MT4 also provides:

– Advanced technical analysis tools
– Customizable trading system
– Algorithmic trading with Expert Advisors

In addition, everyone trading with ForexTB will have access to Trading Central, and will be able to
get free signals to work out their
strategies, and focus on the one that suits them the most. These signals
incorporate a broad analytical approach into forecasting different markets,
thus being a very valuable tool for traders.  

Need help or more info?

We got you covered.

ForexTB’s Help Centre
will help and guide you along your way, covering any questions you may have.
From creating your account and registration process, to withdrawing money from
your account after trading and any trouble you may experience throughout this
trading journey. For those who seek for a more personalized approach, ForexTB’s
dedicated account managers are available at your disposal 24/5, to help you
with any queries you may have. Oh, did we mentioned that there’s a Live Chat when you need
to contact someone immediately?

SUMMARY

ForexTB: A
Cyprus-based broker for trading, that can be accessed anywhere from any
device.

Licensed & Regulated by CySEC under license number
272/15.

Secured payment solutions with multiple payment methods.

0% trading commissions.

No fees on deposits.

Dedicated account manager.

Free access to Trading Central tools.

Practice trading skills through a demo account, risk-freeunder
real market conditions.

Trade on the multi-award winning MT4, as well as our
proprietary WebTrader.

Access to Help Centre and Live Chat 24/5 for more info, help
and immediate response.

Open an actual account with ForexTB following the below
steps:


1. Register

Sign up for free with your details


2. Deposit

Login & fund your account


3. Verify Your Account

Upload the required KYC documents


4. Start Trading


This
article was submitted by ForexTB.

For bank trade ideas, check out eFX Plus

Continue Reading
Advertisement

Daily Financial News

Don’t Count On JPY Correction; Staying Long GBP/JPY

The path of the potential pace of the JPY decline may still be underestimated by markets, which continue trading the JPY long.

While the 10% USDJPY advance from September lows looks impressive from a momentum point of view, it may no thave been driven by Japan’s institutional investors reducing their hedging ratios or Japan’s household sector reestablishing carry trades.

Instead, investors seemed to have been caught on the wrong foot, concerned about a sudden decline of risk appetite or the incoming US administration being focused on trade issues and not on spending. Spending requires funding and indeed the President-elect Trump’s team appears to be focused on funding. Here are a few examples: Reducing corporate taxation may pave the way for US corporates repatriating some of their USD2.6trn accumulated foreign profits. Cutting bank regulation could increase the risk-absorbing capacity within bank balance sheets. Hence, funding conditions – including for the sovereign – might generally ease. De-regulating the oil sector would help the trade balance, slowing the anticipated increase in the US current account deficit. The US current account deficit presently runs at 2.6% of GDP, which is below worrisome levels. Should the incoming government push for early trade restrictions, reaction (including Asian sovereigns reducing their holdings) could increase US funding costs, which runs against the interest of the Trump team.

Instead of counting on risk aversion to stop the JPY depreciation, we expect nominal yield differentials and the Fed moderately hiking rates to unleash capital outflows from Japan.The yield differential argumenthas become more compelling with the BoJ turning into yield curve managers. Via this policy move, rising inflation rates push JPY real rates and yields lower, which will weaken the JPY. Exhibit 12 shows how much Japan’s labor market conditions have tightened. A minor surge in corporate profitability may now be sufficient, pushing Japan wages up and implicity real yields lower.

JPY dynamics are diametrical to last year . Last year, the JGB’s “exhausted”yield curve left the BoJ without a tool to push real yields low enough to adequately address the weakened nominal GDP outlook. JPY remained artificially high at a time when the US opted for sharply lower real yields. USDJPY had to decline, triggering JPY bullish secondround effects via JPY-based financial institutions increasing their FX hedge ratios and Japan’s retail sector cutting its carry trade exposures. Now the opposite seems to be happening. The managed JGB curve suggests rising inflation expectations are driving Japan’s real yield lower. The Fed reluctantly hiking rates may keep risk appetite supported but increase USD hedging costs.Financial institutions reducinghedge ratios and Japan’s household sector piling back into the carry trade could provide secondround JPY weakening effects

Continue Reading

Daily Financial News

Mexico raises interest rates, cites Trump as risk

The head of Mexico’s central bank says U.S. Republican candidate Donald Trump represents a “hurricane” sized threat to Mexico.

Banco de Mexico Gov. Agustin Carstens told the Radio Formula network Friday that a Trump presidency “would be a hurricane and a particularly intense one if he fulfills what he has been saying in his campaign.”

Trump has proposed building a wall along the border and re-negotiating the North American Free Trade Agreement.

Mexico’s central bank raised its prime lending rate by half a percent to 4.75 percent Thursday, citing “nervousness surrounding the possible consequences of the U.S. elections, whose implications for Mexico could be particularly significant.”

Mexico’s peso had lost about 6 percent in value against the dollar since mid-August. It recovered slightly after the rate hike

Continue Reading

Financial News

Africa’s first Fairtrade certified gold co-operative offers hope to gold miners living in poverty

Syanyonja Artisan Miners’ Alliance (SAMA) has become the first artisanal small scale mining co-operative in Africa to become Fairtrade certified, bringing much needed hope to impoverished communities who risk their lives to mine the rich gold seam that runs around Lake Victoria.

SAMA is one of nine previously informal groups from Uganda, Kenya and Tanzania which has benefitted from a pilot project launched by Fairtrade in 2013. This innovative program aims to extend the benefits of Fairtrade gold to artisanal miners across East Africa.

In that short time, SAMA has undergone training in business and entrepreneurship, as well as safe use of mercury, internal control systems, labour rights and better working conditions, health and safety and more. Previously, daily contact with toxic chemicals used to process gold meant members risked disease, premature births and even death.  Fairtrade gold was first launched in 2011, and SAMA now joins Fairtrade certified gold mines MACDESA, AURELSA and SOTRAMI in Peru.

The co-operative produces just 5 kg gold per year, but nevertheless has the potential to significantly benefit many people in the local community through better conditions through certification. It is expected that Fairtrade and organizations like Cred Jewellery will support the miners, ensuring their gold can be refined and made available to jewellers in the UK and other markets.

Gonzaga Mungai, Gold Manager at Fairtrade Africa said: “This is a truly momentous and historical achievement and the realisation of a dream that is many years in the making. Gold production is an important source of income for people in rural economies. Congratulations to SAMA, it sets a precedent which shows that if groups like this can achieve certification, then it can work for others right across the African continent.”

The Fairtrade Gold Standard encourages better practice and changes to come in line with international regulation around the production and trade of so-called ‘conflict minerals’. Under the Standard, miners are required to:

  • Uphold a human rights policy preventing war crimes, bribery, money laundering and child labour
  • Clearly represent where the minerals were mined
  • Minimise the risks of conflict minerals through robust risk assessments and collaboration across supply chains
  • Report to buyers and trading partners regarding the risks of conflict minerals

Now in its second phase, the programme will focus on supporting other mining groups in the region to access affordable loans and explore a phased approach to accessing the Fairtrade market, allowing more mining co-operatives across Africa to participate in the programme.

Gonzaga added: “Sourcing African metals from smallscale miners in the Great Lakes Region is the responsible thing to do. For a long time companies have avoided buying gold from this region, with devastating consequences for impoverished communities who were already struggling. It has driven trade deeper underground, as unscrupulous buyers pay lower prices and launder illegal gold into legitimate supply chains. That’s why we have chosen to work with these groups to help them earn more from their gold within a robust compliance system that offers social, environmental, and economic protections.”

The Fairtrade gold programme offers a small but scalable solution to sustainable sourcing of gold from the region in line with Section 1502 of the Dodd-Frank Act in the US, OECD Due Diligence Guidance and recent EU Supply-Chain Due Diligence proposals which could come into effect in 2016. This means that up to 880,000 EU firms that use tin, tungsten, tantalum and gold in manufacturing consumer products could be obliged to provide information on steps they have taken to identify and address risks in their supply chains for so-called ‘conflict minerals’.

Continue Reading

Trending