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XM Guide to Start Your Trading Journey

Looking to diversify your investment portfolio? Consider trading currencies in the world’s largest, most liquid financial market: the foreign exchange or forex (FX) market. While the idea of making money in the FX market sounds intimidating for the novice trader, it can now be done more conveniently online.

XM Global Trading Platform Guide | MoneymaxXM Global Trading Platform Guide | Moneymax

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XM Global Trading Platform Guide | Moneymax

Looking to diversify your investment portfolio? Consider trading currencies in the world’s largest, most liquid financial market: the foreign exchange or forex (FX) market.

While the idea of making money in the FX market sounds intimidating for the novice trader, it can now be done more conveniently online.

Trade forex online in the comfort of your home with the help of a broker like XM Global. Before you participate in the forex market, learn more about this online forex broker and what it can do for you.

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="What is XM Global?” data-reactid=”35″>What is XM Global?

XM Global Trading Platform - What is XM Global?XM Global Trading Platform - What is XM Global?

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XM Global Trading Platform – What is XM Global?

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="XM Global Limited is a globally licensed, multi-awarded online broker that makes trading forex and contract for differences (CFD)[1] easy and efficient through its full-featured platforms.” data-reactid=”56″>XM Global Limited is a globally licensed, multi-awarded online broker that makes trading forex and contract for differences (CFD)[1] easy and efficient through its full-featured platforms.

For more than 10 years, XM has been sharing its expertise in global financial markets with over 3.5 million traders from 196 countries, including the Philippines.

As one of the industry-leading brokerage firms, XM enables clients to trade forex and CFDs on a wide variety of instruments—stocks, stock indices, commodities, metals, and energies—using a single trading account.

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="XM Global Review: Is XM a Good Broker?” data-reactid=”59″>XM Global Review: Is XM a Good Broker?

XM Global Limited is a legitimate broker with a global reputation for reliability and client fund safety.

Authorized to operate and provide brokerage services worldwide, the company is licensed by the following government regulatory bodies:

  • Cyprus Securities and Exchange Commission
  • International Financial Services Commission in Belize
  • Financial Conduct Authority in the UK
  • Australian Securities and Investment Commission
  • Dubai Financial Services Authority

This means the online forex and CFD broker is fully compliant with strict consumer protection standards and financial requirements by applicable laws and regulations. XM achieves that by maintaining a separate bank account for clients’ funds and having client and operational bank accounts with reputable institutions, among other measures.

Apart from being globally licensed and regulated, XM Global has earned multiple awards recognizing its excellence in forex brokerage, FX technology, customer service, and market research and education.

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Notable XM Global Features” data-reactid=”70″>Notable XM Global Features

XM Global Trading Platform - Notable FeaturesXM Global Trading Platform - Notable Features

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XM Global Trading Platform – Notable Features

XM offers an array of features to help new and experienced traders reach their investment goals:

  • 16 online trading platforms compatible with PC, Mac, Android, or iOS
  • Personal account manager for each XM client, providing full technical support (via live chat, phone, or email)
  • 24/5 personal customer service
  • Supports more than 30 languages, including Tagalog
  • Negative Balance Protection (a guarantee that XM traders cannot lose more than their deposited amount)
  • Free access to video tutorials and forex market research
  • Daily technical analysis, forex market outlook, FX trading signals, and FX webinars
  • No requotes and no rejection of orders
  • Low minimum deposit starting as low as $5

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="What Can You Trade Through XM Global?” data-reactid=”102″>What Can You Trade Through XM Global?

With XM trading platforms, users can trade on these six asset classes:

  • Forex – Trade any of the 57 currency pairs available—including majors (EUR/USD, USD/JPY, GBP/USD, and USD/CHF), crosses (GBP/JPY, EUR/CHF, etc.), and exotics (EUR/TRY, USD/HKD, etc.)—with real-time execution of orders and no requote.
  • Individual stocks – Get cost-effective and direct access to global equity markets, whether for short-term or long-term trading strategies.
  • Equity indices – Trade on stocks belonging to the world’s most popular stock indices, including S&P 500, Dow Jones, and Nasdaq.
  • Commodities – Invest in contract-based tradable goods such as corn, sugar, or wheat without actually owning the financial instrument on which the contract is based.
  • Precious metals – Gain profit from trading gold, silver, platinum, and palladium online in highly liquid markets, regardless of economic conditions.
  • Energies – Trading oil—the world’s most actively traded commodity—is suitable for day traders who prefer fast price movements and trading CFDs on oil prices.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Related: How to Invest in Stocks for Beginners (Even with Little Money)” data-reactid=”111″>Related: How to Invest in Stocks for Beginners (Even with Little Money)

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Different Types of XM Trading Accounts” data-reactid=”112″>Different Types of XM Trading Accounts

XM Global Trading - Different Types of XM Trading AccountsXM Global Trading - Different Types of XM Trading Accounts

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XM Global Trading – Different Types of XM Trading Accounts

An XM forex trading account allows you to trade on currencies. You can choose from micro, standard, ultra low micro, and ultra low standard formats.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="All account types come with negative balance protection, provide flexible leverage from 1:1 to 888:1, and allow hedging[2].” data-reactid=”134″>All account types come with negative balance protection, provide flexible leverage from 1:1 to 888:1, and allow hedging[2].

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Here are the key differences between the four XM trading account types:” data-reactid=”135″>Here are the key differences between the four XM trading account types:

<h4 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="1. Micro Account” data-reactid=”136″>1. Micro Account

  • Base currency options: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR
  • Lot size: 1,000 units of the base currency
  • Minimum deposit: USD 5

<h4 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="2. Standard Account” data-reactid=”141″>2. Standard Account

  • Base currency options: USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR
  • Lot size: 100,000 units of the base currency
  • Minimum deposit: USD 5

<h4 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="3. Ultra Low Micro” data-reactid=”146″>3. Ultra Low Micro

  • Base currency options: EUR, USD, GBP, AUD, ZAR, SGD
  • Lot size: 1,000 units of the base currency
  • Minimum deposit: USD 50

<h4 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="4. Ultra Low Standard” data-reactid=”151″>4. Ultra Low Standard

  • Base currency options: EUR, USD, GBP, AUD, ZAR, SGD
  • Lot size: 100,000 units of the base currency
  • Minimum deposit: USD 50

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Demo Account vs Real Account” data-reactid=”156″>Demo Account vs Real Account

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="First-time forex traders may open a demo account before using a real one to get the feel of online trading in the forex market.” data-reactid=”157″>First-time forex traders may open a demo account before using a real one to get the feel of online trading in the forex market.

XM demo accounts simulate real-time market conditions, provide full access to multiple trading platforms, and enable trading with virtual funds worth USD 100,000. Using a demo account allows you to see how the execution of orders works on an XM trading platform.

Because demo accounts are free, unlimited, and non-expiring, you can use them to test your trading strategies for as long as you want at your own pace.

Once you’re familiar with the system and confident with your forex trading strategies, you can already start trading with real funds under real market conditions. For that, you need to create a real trading account on XM.

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="XM Global Trading Platforms” data-reactid=”165″>XM Global Trading Platforms
XM Global Trading - MT4 and MT5 PlatformsXM Global Trading - MT4 and MT5 Platforms

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XM Global Trading – MT4 and MT5 Platforms

XM Global offers online trading platforms that help clients perform forex market analysis and execute trades.

Their trading platforms work with Windows and Mac computers, as well as Apple and Android devices. They display key indicators, such as the following, that help users make trading decisions:

  • Live prices and symbols of trading instruments
  • Chart window that shows historical prices, indicators, and other tools
  • Active, pending, and closed trades

Choose from two types of XM forex trading software: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). The right trading platform to use will depend on your needs as a trader.

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="XM MT4 Trading Platform” data-reactid=”193″>XM MT4 Trading Platform

Mainly a forex trading platform, the MT4 is the most popular software for retail FX trading because of its easy-to-use features and ability to automate trading. This is the recommended platform if you want to focus on forex trading.

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="XM MT5 Trading Platform” data-reactid=”195″>XM MT5 Trading Platform

The MT5 is a multi-asset trading platform. Aside from forex, you can also trade individual stocks, equity indices, precious metals, energies, and cryptocurrencies. Trade on the MT5 platform if you want to diversify your investments.

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="How to Start Trading with XM Global” data-reactid=”197″>How to Start Trading with XM Global

XM Global Trading - How to Start Trading with XMXM Global Trading - How to Start Trading with XM

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XM Global Trading – How to Start Trading with XM

Whether you’re a beginner or a pro in forex trading, you’ll find the XM platform easy and convenient to use, from account opening to the actual trading.

Take these simple steps to begin your journey as an XM forex trader.

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="1. Sign Up for an XM Trading Account” data-reactid=”220″>1. Sign Up for an XM Trading Account

A forex trading account gives you access to your preferred platforms and the XM Members Area where you can monitor and manage your account. Creating an account takes only around five minutes.

<h4 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="How to Open a Trading Account” data-reactid=”222″>How to Open a Trading Account

  1. On the XM homepage, click the Open a Live Account button. This will take you to the XM Real Account Registration page (or directly access the page here).
  2. Fill out the online form with the required details.
  3. Select MT4 or MT5 as your trading platform.
  4. Choose the account type you want to trade on.
  5. Click the Proceed button to go to the next page
  6. Fill out another form with details about your trading account, yourself as an investor, and your trading knowledge and experience.
  7. Create a password for your trading account. It must have at least two numbers, lowercase letters, or uppercase letters. Re-type your password to confirm it.
  8. Read and accept the Terms and Conditions and other policies.
  9. Click the Open a Real Account button.
  10. Check your inbox (or Spam folder) for a message from XM with a link to confirm your email. Click on the email confirmation link to complete your account registration.
  11. You’ll be taken to the XM Members Area where your MT4/MT5 ID number is displayed. Enter the password you created during your account registration. Click the Login button.
  12. Check your inbox again for a message with your MT4/MT5 ID and server name, as well as links that will allow you to log in to the Members Area and download your chosen trading platform.

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="2. Validate Your Trading Account” data-reactid=”236″>2. Validate Your Trading Account

To access all XM trading account features and benefits, including fund withdrawal, submit the required documents for validating your account.

<h4 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="XM Global Requirements for Account Validation” data-reactid=”238″>XM Global Requirements for Account Validation

  • Proof of identity – Valid passport or any valid government-issued ID that contains your complete name, ID issue/expiry date, birthplace and birthdate or TIN, and signature
  • Proof of residency – Recent utility bill or bank account statement with your name and address and dated within the last six months

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="How to Submit Your Account Validation Documents” data-reactid=”242″>How to Submit Your Account Validation Documents

  1. Go to the XM Members Area.
  2. Enter your MT4/MT5 ID number and password. Click the Login button.
  3. Click on “Validate Your Account Now.”
  4. Upload clear and colored copies of the requirements for account validation.
  5. Wait for an email confirmation from XM’s Validation Department that your account has been successfully validated.

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="3. Make a Deposit to Your Trading Account” data-reactid=”249″>3. Make a Deposit to Your Trading Account

XM clients can choose from a broad range of payment options for fund deposit or withdrawal. These payment methods include credit cards, e-wallets, local bank transfer, and wire transfer.

Funds can be deposited in any currency, which will be converted automatically into your account’s base currency.

<h4 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="How to Deposit Funds” data-reactid=”252″>How to Deposit Funds

  1. Log in to the XM Members Area.
  2. Click the Deposit Funds button.
  3. Choose your preferred payment method.
  4. Follow the provided instructions on how to deposit money through your chosen payment method.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Available Methods for Depositing Funds” data-reactid=”258″>Available Methods for Depositing Funds

  • Credit/Debit Cards
  • Online Bank Transfer
  • Neteller
  • Skrill
  • WebMoney
  • Perfect Money
  • SticPay
XM Global Trading - Deposit FundsXM Global Trading - Deposit Funds

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XM Global Trading – Deposit Funds

Take note that available methods may vary depending on your country of origin. For Online Bank Transfer, below is the list of local banks available for XM.

  • BDO
  • BPI
  • China Bank
  • Metrobank
  • RCBC Savings Bank
  • Robinsons Bank
  • UnionBank EON
  • UCPB
XM Global Trading - Online Bank TransferXM Global Trading - Online Bank Transfer

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XM Global Trading – Online Bank Transfer

Payments made via Online Bank Transfer will be redirected to Dragonpay wherein over-the-counter processes via SM, Cebuana, ECPay, RuralNet Bankks, and Coops are also available.

<h4 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="How to Withdraw Funds” data-reactid=”318″>How to Withdraw Funds

To request a fund withdrawal, simply click the Withdraw Funds button in the Members Area and enter the amount you wish to receive. Your request will then be processed within 24 hours.

Your money will be sent back on the same day or up to five business days to the payment method you used for making a deposit.

<h4 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="How Much are the Deposit and Withdrawal Fees?” data-reactid=”321″>How Much are the Deposit and Withdrawal Fees?

XM Global does not charge any fee for making a deposit or withdrawal, regardless of the payment method used. The company shoulders all transaction fees for its clients, except for deposits less than USD 200 via international bank wire transfer.

<h3 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="4. Install the Trading Platform” data-reactid=”323″>4. Install the Trading Platform

At this point, all you have to do is download, install, and log in to the XM trading platform before you start using it.

<h4 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="How to Install the XM Trading Platform” data-reactid=”325″>How to Install the XM Trading Platform

  1. On the XM homepage, click on “Platforms” at the top menu.
  2. Select your preferred trading platform (MT4/MT5) and operating system (PC/Mac for computers or iPhone/Android for smartphones or tablets).
  3. Click the Download button.
  4. The setup window will appear. Click the Save File button to download the XM.exe file.
  5. Go to your Downloads folder (or any other folder where you save your downloaded files). Then double-click the XM setup file.
  6. Read and agree to the End-User License Agreement. Click the Next button.
  7. Wait for the installation process to complete. Click the Finish button.

<h4 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="How to Access the Trading Platform” data-reactid=”334″>How to Access the Trading Platform

  1. Double-click the XM icon on your desktop to launch the trading platform.
  2. Select your trading server. Click the Next button.
  3. Select “Existing trade account” and enter your MT4/MT5 ID and password (the same login credentials you’re using to access the Members Area).
  4. Click the Finish button.

Everything’s set—now you can start trading using the XM platform.

<h2 class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Final Thoughts” data-reactid=”341″>Final Thoughts

The potential to earn profit in the forex market is high, and so are the risks. It’s best to start with a demo account, so you can familiarize yourself with how the XM Global trading platform works. Explore the XM Members Area and learn as much as you can, too. Arm yourself with the knowledge and confidence needed to succeed in the forex market.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="This article was created in partnership with XM. While we are financially compensated for this collaboration, we ensure to maintain our editorial integrity to provide you with the best recommendations that can help you make smarter financial decisions.” data-reactid=”343″>This article was created in partnership with XM. While we are financially compensated for this collaboration, we ensure to maintain our editorial integrity to provide you with the best recommendations that can help you make smarter financial decisions.

Find the right credit card for you!Find the right credit card for you!

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Sources:” data-reactid=”357″>Sources:

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="DISCLAIMER: Information published on this blog or elsewhere on www.moneymax.ph should be used for general information purposes only and does not constitute investment advice, performance data or any solicitation or recommendation that any security, investment product, transaction or investment strategy is suitable for any specific person. This material does not take into account your financial situation, risk tolerance level, investment experience or objectives; all of which are unique to you. Before acting on information on this blog, we suggest consulting an independent professional to advise you on the risks of any decision and the extent of any exposure to loss.” data-reactid=”361″>DISCLAIMER: Information published on this blog or elsewhere on www.moneymax.ph should be used for general information purposes only and does not constitute investment advice, performance data or any solicitation or recommendation that any security, investment product, transaction or investment strategy is suitable for any specific person. This material does not take into account your financial situation, risk tolerance level, investment experience or objectives; all of which are unique to you. Before acting on information on this blog, we suggest consulting an independent professional to advise you on the risks of any decision and the extent of any exposure to loss.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The post XM Guide to Start Your Trading Journey appeared first on Moneymax.” data-reactid=”362″>The post XM Guide to Start Your Trading Journey appeared first on Moneymax.

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AvaTrade introducing 3 new crypto pairs

crypto trading with Avatrade

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.

AssetTypical SpreadLeverageMarginMin Nominal Trade Size
NEOUSD1.5% Over-market2:0150%10
EOSUSD2% Over-market2:0150%10
MIOTAUSD1.5% Over-market2:0150%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:

AssetOld SymbolNew Symbol
RIPPLEXRPXRPUSD
ETHEREUMETHETHUSD
LITECOINLTC_MiniLTCUSD

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.

Visit Avatrade NOW

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Neteller Launches Cryptocurrency Exchange Service

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

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 and Skrill)  announced that another digital wallet provider in its group, Skrill ( formerly known as moneybookers), started allowing customers to “instantly buy and sell cryptocurrencies, including bitcoin, bitcoin cash, ether and litecoin, using any one of the 40+ fiat currencies available in the Skrill wallet.”

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

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The basics of trading that one should know

The basics of trading that one should know

Things you should be aware of before you start

The currency trading industry and now also the cryptocurrency trading industry have gone through enormous volatile times the last couple of years. Now with trump and its trade wars. The fast rise and somewhat recline of the cryptocurrencies and the fast pace of international politics and economies that create high rises and steep fall of the currencies.

So what does it all mean and what can you do before start to trade on these news headlines.

Good brokers like LegacyFX and UBCFX provide the traders with the latest market news and updates on a continuous basis but if you are new to trading you still have no idea what to do with this.

You start by understanding that the involves a high degree of risk, including the risk of losing you hard earned money. Besides the ones that were lucky enough to have bought Bitcoin a couple of years back and cashed in in the end of 2017, most people don’t get rich overnight.

You have to understand that you only trade with money that you are able to lose, going hungry because you want to open a trade is not the right wy to go about it.

So, What is Forex?

You should by now understand that the value of currencies goes up and down every day.

This in general becomes apparent the moment you go on vacation and what you bought last year with your money now is not the same amount you get today at the exchange.

This is on a large scale, what a lot of people do not know is that there is a foreign exchange market – or ‘Forex’ for short – or “FX” for even shorter, where you can potentially make a profit from the movement of these currencies.

The most known Trader is George Soros who made a billion dollars in a day by trading currencies. This is of course on a scale that we are not able to reach and you need a huge amount of money to begin with. Still he made a billion in one day!!

The internet has played a huge part in making trading in currencies accessible for the masses. You also do not need huge amounts of money to actually do this. Now keep in mind that if you make 10% profit on your investment but the investment was just $50 you basically just end up with $55. still no bank will give you 10% interest on your money.

Many people and I am talking millions are now trading every day, most do this on the side and don’t do this as a full-time job, but there are today enough people that are full time traders and making enough money to live comfortably.

Retail forex market needed Brokers

The Forex market for the retail market was born, it started around 15 years ago to become more serious as technologies advanced and the stream of information became almost instant, this is important for trading as one second can make the difference between profit or loss.

So, the moment the technology was there the people that wanted to trade were there all that was needed were the Forex brokers that offered the platform for trading.

There are latterly hundreds of companies of not thousands that offer this service and there are good ones like LegacyFX and there are scams (these tend to not last long)

Forex explained in short

The Forex market is the largest financial market on the planet and has been for many years now.

Its average daily trading volume is more than $4 trillion. (just let that number sink in for a second). Of this total amount around 5% is the retail market meaning traders like you and me. Still 5% of 4 Trillion is still a number with a lot of zeros behind it.

If you compare that with the New York Stock Exchange, which only has an average daily trading volume of $55 billion. You truly see the size.

To give you another example:

if you were to put ALL of the world’s equity and futures markets together, their combined trading volume would still only equal a 25% of the daily Forex market. Insane right?

Why does this even matter?

It matters because there are so many buyers and sellers that transaction prices are kept low. To explain how trading the Forex market is different than trading stocks, here are a few major benefits.

  1. Most Brokers don’t charge commissions – you pay only the bid/ask spreads.
  2. There’s 24hour trading – you decide when to trade and how to trade.
  3. You can focus on your currencies and become experts in only those pairs that you follow instead of following and selecting out of 5000 stocks
  4. You can trade on leverage, (something to be very aware of as it can magnify potential gains but also your losses).
  5. Forex is accessible for almost everyone– you don’t need a lot of money to get started
  6. In the Forex market you can trade on Demo accounts to learn before you commit your money

How is Forex traded?

The mechanics of a trade are virtually identical to those in other markets. The only difference is that you’re buying one currency and selling another at the same time.

This is also the reason as to why the currencies are quoted in pairs, like EUR/USD or USD/GBP.

The exchange rate represents the purchase price between the two currencies.

Example:

The EUR/GBP rate represents the number of GBP one EUR can buy (relevant now with all the Brexit issues going on) . If you think the Euro will increase in value against the British Pound, you buy Euros with British Pounds. If the exchange rate rises, you sell the Euros back, and you cash in your profit.

Now the same works for strading Bitcoin, ethereum, Litecoin or other cryptocurrencies. this has become an entire new market and has introduced many people to Forex . you should here be also aware that trading cryptocurrencies is like regular trading so you will be able to lose great sums of money.

the Best thing i found about trading cryptocurrencies is that the Leverage by default tends to be very low which makes the risk of losing it all much smaller.

Sounds simply enough?

Why does not everyone Trade.

The same could be asked as to why not everyone plays poker, you can make money. The comparison between the 2 is actually closer than you might think.

All traders that are successful will tell you that 80% of successful trading is psychology and the other 20% is research. It takes time to get the research down, but it can take a lifetime to master the psychology.

People tend to do things differently when real money is on the line and are accepting losses in the hope that the trend will reverse or taking out profit too early because they don’t want to lose what they just have gained. In short, the psychology is the hard part.

One should be aware that you can loose real money and a lot of it very fast if you don’t know what you are doing.

Now most Good Forex brokers offer some educational tools, some more than others that will teach you how to trade. There is also something that is called social trading that will allow you to follow other traders and see what they are doing in order for you to learn and make money at the same time.

So here are some ground rules for those that look to start trading

  1. Get involved in the market, watch read and listen to the news to understand what is happening
  2. Go through a trading course ( a good one is here)
  3. Open a demo account and trade at least a month (my advice to do this even longer)only on this before you even think about trading with real money.
  4. Check out social trading, there are some options for this, this broker offers this also.
  5. Try with an amount that you are able to afford losing. See this as your tuition money.
  6. Take it slow, don’t become greedy and follow the basic rules

Basic Rules (there are many more but start with these)

  1. The trend is your friend
  2. Don’t add money to a losing position
  3. Don’t trade on too many different currency pairs
  4. Trade only with a good broker
  5. Don’t open to many positions (no one needs 100 positions a day)
  6. Develop your strategy and stick to it.
  7. Know that NO ONE is 100% of the times right, everyone loses some.
  8. Last but not least, don’t trade with money you cannot afford to lose.

Now all that I want to say is good luck.  😊

 

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