Trade Forex to Earn Extra Income on Olymp Trade - Peace FM Online

Posted: 26 Sep 2019 12:00 AM PDT

Trade Forex to Earn Extra Income on Olymp Trade

26-Sep-2019

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If you're searching for a way to make extra income and change your way of life, Forex trading may be the answer for you. Read more to learn how to easily start trading Forex without a huge investment.

Trading currency in the Forex markets has become a great way to earn extra income for new and smaller investors. Forex markets can certainly be very lucrative for investors and surprisingly to many people, it doesn't require a huge investment to get started. So, where does a new trader begin with Forex?

We've provided a quick guide to get you going easily and with only a small investment to help you on your way to reaching your financial goals.

Open an Account with a Forex Broker

This is by far the most important part of the process. Not just because it is the first step, because it is where most new traders waste a bunch of time and money. There are many brokers to choose from when it comes to Forex trading. Unless you are very experienced and already have a broker, our suggestion is to use Olymp Trade Forex for several reasons.

First and foremost, they are a trusted company with a Category A rating from the International Financial Commission. Olymp Trade will give you access to all the markets you will likely be interested in and they give you easy access with only a small deposit, $10 USD, necessary to start. Best of all, they won't charge you any commissions on your deposits or withdrawals.

These two reasons alone should be enough, but also consider that they have 25,000 people trading daily on Olymp Trade and a quarter million every month. Their state of the art platform is user-friendly, but includes all the tools and charts that professionals use.

Additionally, they offer trading multipliers that allow small traders to increase the size of their trades by up to 500 times without risking more of their own money. It is a very popular platform in Africa and around the world and only takes about an hour to set up your new account using a variety of deposit options besides bank cards such as Fasapay, Skrill, and others.

Olymp Trade is not only for new traders and they have clients of all financial sizes. They are currently paying out over $13 million USD to clients monthly, but trades can be made with as little as $5 USD.

A trading platform should give clients access to modern diagnostic tools such as Bollinger Bands, Simple Market Averages (SMA), and others in order to help them make successful trades. Be sure to get familiar with the tools of the platform.

A good broker helps educate their clients about using their trading platform and Olymp Trade provides clients with a ton of resources. They have live webinars for clients hosted by professional financial analysts, a range of videos on their YouTube channel, an expert blog, and more.

Also, they supplement all their educational resources with 24/7 customer support services. If you have any questions, you can open an online chat, call them over the phone, or communicate through email. They will get you taken care of by a professional market analyst and not a call center employee regardless of the size of your portfolio and in 13 different languages.

Through your educational development in trading, you will begin to develop a unique strategy to trading that fits your financial goals. Every investor has different short and long term needs when trading and your strategy will need to be customized to your specifications.

Take Advantage of a Demo Account to Practice

Practice makes perfect. Before you start to trade with your own money, make sure to practice using a Demo Account so that you can work out the process and gain experience. Nothing is more frustrating than losing money because of one wrong click.

Olymp Trade provides every client with a free Demo Account with $10,000 USD in virtual money so they can test out their strategies and ideas ahead of risking their real money. This is a fantastic tool in the learning process and not one to be skipped.

Set a target profit goal with your Demo Account and get to work. Once you've reached your target profit at least once (twice is better), then start to trade on your "live" account. Many professionals recommend doubling your practice amount at least twice before moving on to real money.

If you lose your Demo Account virtual money, no worries. You can replenish it at any time up to the $10,000 USD.

Be Serious and Businesslike in Your Trading

Make sure to treat your Forex trading like a business. Keep thorough records of your trades and look for profitable openings while avoiding past mistakes. Just like any business, you will have some positive and negative experiences. The key is adjusting your strategy rationally based on information and not on emotion.

One great feature with Olymp Trade is that all your trading history is kept at your fingertips for you to review. You can see times, amounts, profits and losses, and more in your trade history, which will help you evaluate your progress, duplicate your wins, and eliminate your losses.

Yes, you can make money trading Forex, but investing in anything can be risky. By following these tips, you will be helping to eliminate the majority of mistakes that new traders make when starting to invest.

Along the way, you'll have a good amount of fun, be better educated on markets and the economy, and on your way to reaching your personal financial goals. A good broker like Olymp Trade will be your partner in this process and help facilitate your success.

Source: Olymptrade.com

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6 Factors to Consider When Choosing Forex and CFD Trading Broker - FXDailyReport.com

Posted: 27 Sep 2019 03:28 AM PDT

In the past few years, online forex trading has become quite popular, particularly due to the market's ease of access and 24/7 schedule. Retail traders and financial institutions from across the globe are now trading currency either as a part-time activity or professional occupation. Regardless of your reason to invest in Forex, it's important that you work with registered and reliable forex and CFD broker.

Due to the lucrative nature of forex, the number of online forex brokers has immensely increased in recent years. With all these brokers promising huge returns on your investment, it becomes difficult for forex and CFD traders to differentiate between genuine and scam brokers when finding the best broker for their needs. For successful and profitable trading, it's imperative to ensure the broker you choose is reliable and the best fit for your needs.

In this guide, we shall take you through some of the most important factors to consider when choosing a forex and CFD broker for your trading needs.

1. Proper Regulation

Regulation is probably the most important factor to consider when selecting a forex and CFD broker. Regulation plays a very important role in protecting the interests and rights of traders against fraudulent and unlawful brokers. First, it protects your funds in the event your broker disappears or develops financial issues. Regulation also ensures the FX and CFD broker is adequately capitalized in case of trading losses by keeping its clients' funds in segregated accounts that are entirely separate from its accounts. Moreover, regulation helps to maintain fair trading practices so that your trades are executed at the current market prices. To benefit from the above benefits, you should select a licensed broker with a clean record.

Also Read: Top Regulated Forex Brokers

Most developed countries have their own regulatory bodies which set standards and oversee brokers operating in their jurisdiction. However, those brokers doing business in more than one jurisdiction are often regulated and registered by more than one regulatory body. All licensed and regulated brokers should list the names of their regulators plus their registration numbers on the website.

2. Customer support

Whether you are a novice trader or experienced one, it is imperative to choose a broker with good and reliable customer support. How does customer support help you? Well, it ensures that you'll swiftly and efficiently get a solution to an issue when it arises. Some of the issues you can encounter when trading forex and CFD include incorrect execution of your trades, an encounter with large slippage or errors when making a withdrawal or deposit.

Customer support should be available through a number of channels such as phone, live chat, and email. It should also be available in an array of languages.

Having access to such kind of support ensures you can handle all issues related to your online trading and the platform as soon as they arise to ensure smooth trading experience.

3. Trading platform

It doesn't matter how good the customer service is if the trading platform has a horrible user-interface as this will make you struggle to succeed. As a trader, you should ensure that the broker's trading software is easy to use and navigate and offers a wide range of technical analysis tools such as charting capabilities and forex indicators. The platform should be designed in a way that it's easy to place different types of orders in a reliable and secure environment.

Other things to check out for in the broker's platform include customizable add-ons, low spreads, and risk management functionality, including take profit order and stop loss.

Most forex and CFD brokers provide free demo accounts so that their potential clients can test out the software before opening a live trading account.

4. Spreads and slippage

Spreads and slippage are other important things to consider when choosing a forex and CFD broker. What type of spreads does the broker offer? Currency pair spreads. The largest source of income for the Forex and CFD brokers is currency pair spread, which is defined as the difference between the bid and ask prices. There are two main types of spreads offered by forex brokers- variable spreads and fixed spreads. Some others, however, offer a combination of the two. Variables spreads, as the name suggests, are spreads which change depending on the market conditions. Fixed spreads, on the other hand, remain the same during all market conditions. Variables spreads are usually tighter than fixed spreads. However, during adverse market conditions that lead to low liquidity, variable spreads can widen quite a lot which could be favorable or unfavorable for you. If you are not comfortable with slippage, then fixed spreads could be the right option for you. Some forex brokers allow you to choose the type of spreads you want which will either be fixed or floating. Therefore, it's important to know what type of spreads you are comfortable working with before choosing a broker.

5. Deposit and withdrawals policy

This is another important factor to keep in mind when finding the right forex and CFD broker for you. What payment methods does the brokerage company offer? Are there any fees applied for the methods and how much? Is there any minimum withdrawal requirement? How quickly can you get your money when requested?

Brokerage companies accept a range of funding methods, including credit card, bank check, and wire transfer but ensure you check their payment policy first as brokers have different policies when it comes to withdrawals and deposits. You also want to start trading as soon as you make your deposit, so if there's a delay after making a deposit, imagine how long you'll have to wait after you request a withdrawal. Choose a broker with fast, smooth, and easy deposit and withdrawal process.

Also Read: Forex Brokers with Low Minimum Deposits

6. Data Security

When you sign up for an account with a forex and CFD broker, you disclose a lot of personal and confidential data. A broker will often need copies of your identity card or passport, credit card numbers, and bank account information. A broker with poor cybersecurity practices can cause your financial data to be stolen or even put you at high risk of identity theft.

So, to prevent all these troubles, ensure you work with a broker that partnered with a reputable cybersecurity firm. Also, make sure that the broker uses SSL encryption to make sure the financial and personal information you transmit doesn't fall into the wrong hands. Two Factor Authentication is also another security feature that can make your trading account hard to hack.

Final Words

Before choosing a forex and CFD broker, ensure you learn everything about them by doing thorough research to ensure the safety and security of your funds and personal information. This way, you'll have smooth and hassle-free trading experience.