Trading with Olymp Trade: A Forex broker that cares - Saudi Gazette

Posted: 31 Dec 2020 12:00 AM PST

Brokers around the world claim to serve their clients with respect and dignity, but only offer haram trading options. Many platforms boast practices that a Muslim trader cannot condone.

The forex accounts offered by Olymp Trade meet all the requirements of Islam. This platform has created a community of hundreds of thousands of traders from all over the world.

Making trading accessible is a pillar of Olymp Trade's mission. Along with, High standards, low barriers to entry, and an intuitive platform attract clients from all walks of life.

This rings true especially for traders from Muslim countries. Now, Muslim traders can learn to profit from the life-changing opportunities offered by the foreign exchange market — forex.

Is Forex Gambling?

Muslims often have a misconception that forex trading is gambling.

Games of chance are gambling, sports betting, slot machines, and roulette are perfect examples. Forex profits are determined by international currency exchange rates. A trading strategy is what guides an investor's decisions, not blind chance.

No Swaps, or Interest

Olymp Trade clients do not pay the swap or interest on their forex trades that are left open overnight. Dealing in interest is haram, this is why Olymp Trade offers interest-free trades. To leave a position open overnight traders must pay a fixed fee, meaning the true cost of a position is known before a trade is opened.

Real Markets and Prices

Investing in contracts involving the deferred supply of goods like futures is not allowed by Islam. Therefore, trades on the Olymp Trade platform are made in real-time with actual assets.

Deals on Olymp Trade are made at market prices determined by external foreign exchange market makers. Charts indicate the value of an asset and markets are moved by people and their choices rather than blind chance.

Trades have no time limit, meaning investment decisions can be made without fear of expiration (ie, an asset leaving circulation).

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The Broker For You

Olymp Trade was built to be one of the simplest trading platforms available. Its elegant interface and streamlined technology allow traders of all levels to quickly master it.

There are many platforms to choose from, but none are as dedicated to ensuring their users are able to maximize their earning potential as Olymp Trade.

Bringing the life-changing practice of trading to people traditionally excluded from this industry has been the goal from the beginning. Bringing clients from novice to experienced profitable traders.

Education

Olymp Trade's free educational materials and built-in automated assistant were all created with new traders in mind. All concepts, strategies, and tools are explained in simple language.

With an extensive education suite, Olymp Trade gives you the tools you need to become a successful trader. Understanding how to use them seems more complicated than it is.

The Olymp Plus educational suite is full of useful information for traders of all levels. A library of webinars explaining Trading Basics through Advanced Technical Analysis, Insights, and asset breakdowns are all free for any trader or student to use.

Practice

Learning to invest and trade can be daunting. The fear of losing your own money is enough to stop many traders before they begin. The best way to practice is by using your free demo account.

While using your demo account trades can be executed the same way you would with real money. Real-time quotes, accurate calculation of the trade results, and the ability to trade different assets make this trading experience realistic.

Traders can replenish their Demo Dollars, making it possible to practice different trading strategies to find the one that best suits them.

Trading on the Go

Olymp Trade has made it possible to earn money from your mobile phone. Providing trading services since 2014, Olymp Trade has strived to make trading accessible to everyone and their Online Trading App is another step in that direction.

The Online Trading App - available both Appstore and GooglePlay - allows people to execute forex wherever they have their phones. Its intuitive interface and built-in training make it a wonderful choice for both new and experienced traders. Combined with their online educational library filled with trading strategies, trend indicators, and webinars, Olymp Trade is making trading easy to understand and execute.

Conclusion

Trading the foreign exchange market is not unilaterally accepted in Islam. The systems in place to determine the legitimacy of trading as a form of income are complex.

For those willing to try trading and change their lives, Olymp Trade has created the perfect environment meeting the strictest standards for Muslim traders. Their free halal forex accounts, educational tools, and demo accounts make this platform perfect for traders of all levels. Give Olymp Trade a try if, changing your life through trading is of interest.

The Benefits of Forex Trading – Film Daily - Film Daily

Posted: 23 Jan 2021 05:04 PM PST

Forex stands for foreign exchange or currency trading. If you invest in it wisely, you will have a great chance of making a fortune. This global market has huge trading volumes with liquidity. Whether you use the forex borderless prepaid card or take part in Forex trading to expand your savings, you will have more than enough benefits to enjoy. Let's get deeper into details.

The Positive Sides of Forex Trading

Forex trading is a global market that is marked with incredible liquidity and an immense daily trading volume. Similar to any other type of investment, it can't provide you with a 100% guarantee for a positive result. But it offers such conditions for trading investments that minimize the risks. Thus, forex trading has some unique benefits over other markets that need to be known by every trader.

No service charges

Forex trading doesn't have any clearing, exchange, government, and brokerage fees. How do they earn money then? Luckily, most retail forex brokers get compensation for their services through the so-called "spread".

No fixed lot size

In the future markets, contract sizes are estimated by exchanges. For instance, an average contract for silver futures is 5,000 ounces. Forex offers you smaller trades that involve just 1,000 units.

Attractive transaction costs

The retail operation cost is usually less than 0.1% under normal market conditions. To proceed with larger transactions, the spread can just 0.07%. At the same time, this indicator is dependent on your leverage, and the further processes on the trading market.

24-hour market availability

There is no need to wait for the next opportunity to buy or sell something in the Forex market. From Monday till Friday, the Forex platform is ready to assist you in your trading endeavors. This is a great option for those traders or investors who want to trade on a part-time basis.

No one can corner the market

It has been mentioned before that the Forex market is liquid. This feature minimizes the risks of possible manipulations within trading hours. No need to mention the importance of safety in a trading environment. High liquidity allows Forex developers to keep the market processes under control.

Leverage

The best thing about Forex trading is that even a small deposit can control a larger total contract value. In this case, leverage allows the trader to earn money without taking great risks. For example, if a Forex broker has 40-to-1 leverage, it will establish a $40 margin deposit for traders who want to buy or sell $16,000 worth of currencies. But don't think that leverage will make your life easy in the Forex market. Without efficient risk management, a high degree of leverage can cause great losses.

Deep Liquidity

Considering the impressive size of the Forex market, it is extremely liquid. It means that you can buy and sell any currency, metal, or share under adequate market conditions. You will need to try hard to "stuck" in a trade. Forex has made things super easy on its platform by letting you close your position once the desired profit is reached.

Low Barriers to Entry

You would think that getting started as a currency trader would cost plenty of money. This is not really the case. Most Forex brokers provide traders with "mini" and "micro" trading accounts, where a minimum deposit is estimated at $50. Of course, you can invest more and increase your chances for success. But the availability of a low minimum deposit makes Forex trading more accessible to all categories of people.

Free "demo" option

The variety of Forex brokers is immense. So, it takes much time and effort to choose the right one. That's' why most Forex brokers offer "demo" accounts that allow traders to practice trading without paying a single cent. Sound great, don't you think so?

Demo accounts are very valuable resources for those who struggle financially. Thus, you don't have to spend your last money without having full trust in this or that trading resource. By checking the platform in a trading mode for a few days, you can decide whether it is suitable for you or not. It will surely save you much time and money.

2020 has been far from a stable year, but the finance industry has seen instability left and right. If you're invested in trade, here are some tips.

Final Word

As you can see, there are multiple benefits to Forex trading. It doesn't mean that you should start trading without worrying about a single thing. Similar to any trading resource, Forex is not devoid of risks. Whether you make a fortune or lose everything, you can only rely on your luck. To boost your luck, you can develop a long-term strategy to be used before every trade.

If you are about to proceed with trading, Forex is the right resource to rely on. Apart from trading options, it also provides you with all the necessary guidelines for making the right decisions. And this is the kind of support you can hardly find on any other trading platform.

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