Sunday, February 16, 2020

GUIDELINE TO MONEY WITHDRAWAL FROM EXNESS


As registered in the UK, Exness is a verified broker under FCA, which is applying the strictest law in terms of abiding and anti-exploitation.  Partially, Exness is obligated by FSCS with the refund guarantees maximum at 85000 GBP to its customers.
Besides, Exness operates branches in Cyprus with CySEC regulation, which enforces financial market law. Exness’ clients are also protected by the Investor Compensation Fund, which a reimbursement up to 20000 euros. Therefore, traders can feel secure if they want to withdraw money from their Exness account, which is the basic forex trading knowledge for beginners.


Popular trading platforms at Exness

MT4 and MT5 are two popular trading platforms at Exness.

Metatrader 4

This platform offers all you need to trade and rank first place in the world. It operated automatic expert advisors, Economic Calendar, VPS hosting, charts and customised trading indicator.
The spread is between 0.5 and 0.9 pips in accordance with the limited leverages at 1:30 by ESMA. an exception applied in a professional status of the clients.
Spread commission is zero. Android and iOS devices supported along with desktop version of the platform.

Metatrader 5

Despite the effectiveness of MT4, MT5 has replaced it after its operation of a decade. It comes with major improvement in terms of time frame, more pending order class as well as trading bots.
Un ESMA regulation, leverage is maximum at 1:30. There is no true information about any higher leverage on the website. The professional clients are accepted with leverage at 1:200.
The spread is 0.5 - 0.9 for EUR/USD. No Commission. Android and iOS devices are supported but desktop version is seperated. 

Minimum deposit

The minimum deposit of $500 is a must when open an Exness account. Later on, the limit is just $3 by credit cards, and $10 of all other methods. Bank Wire, Wire transfer, Neteller and Skrill are available for funding. It takes 3-5 days for wire transfer while other methods is instant access. This is applied to all Exness accounts, including Cent account.
The principal trading currencies are USD, EUR, GBP, JPY, CHF and CNY making deposit is at a fee.

Fees and procedure of Exness withdrawal

Exness money withdrawals are protected under the regulation of the FCS and CySec. There are major supported withdrawal methods, including wire transfer, Bank wire, Neteller, and Skill. Notably, Neteller and Skrill offer instant withdrawal. Meanwhile, it takes 3-5 days for process money with Bank transfer and credit card. The long of this service depends on the used payment system.
With Netteller, the minimum amount is $4. Skrill is minimum at $10. Depending on card classification, the minimum around $3 and $6. Lastly, $40 is the minimum withdrawal of Wire transfer. Surprisingly, Exness money withdrawals require zero fees.

Conclusion

Overall, Exness is a great place to trade forex, commodities and cryptocurrencies for UK, EU and international residents. It is highly regulated and operates in a secure, streamlined trading environment that inspires confidence in traders of all levels of experience without any problems of money withdrawals. Such traders can choose the popular MT4 or MT5 platforms and participants in the forex market can trade via a simple web platform but can also enjoy smartphone execution.

Monday, January 6, 2020

ALL 6 TYPES OF ORDERS IN FOREX TRADING


So in this topic I am going to talk about many types of orders in forex and most people don’t think there are that many but after reading this you will be surprised to witness how many there are and the differences which occur. This is the basic forex trading knowledge for beginners.

Market Order

The market orders are one of the most popular ways of which an order can be used in forex. It is basically an order to purchase something at the current cost. It is therefore that the order is processed in real time after it's been launched. This is done by the order in which it automatically tries to discover the best price which is available in the market. After this it books the order which you placed at that cost. It can however be executed at a different place very slightly because the market changes so quick, this is known as slippage. This can be a benefit especially for an investor, but on the other hand it may not and it will be against him. This is just one of the types of orders in forex though. 

Learn more about: What is forex trading and how does it work

Pending Order

There is another called pending order which is basically an I seduction to purchase or offload trade. For example an order in the market but only when specific terms are completed. Pending orders are not executed. This option also erases the considerations of keep checking the market to make a trade. This in turn will enable you to say up orders automatically which will instantly complete trades.

Profit Booking Order

In profit booking orders there are normally orders to tee off a long open position. These are orders which will specify the conditions that will need to be met and will have to happen before the square off occurs. However it may take some time to do this as the orders enables the traders to make profits in the market which will change very quickly at a high tempo.

 Stop Loss Order

This is a reverse version of the profit booking order. But on the other hand it can be utilised more broader in the markets compared to the profit booking. The order mentions a decline threshold which the investor will withstand. 

Trailing Stop Order

This one is very identical to stop loss order. This defines that the order will also offload an open position after the cost hits the floor. But in this scenario the floor moves in a upward direction just in the case if there is a surprise profit. Usually the price floor would stay the same and the figure is 10% below the price at the initial stage when you started trading.

Dependent Orders

Forex market also enables the investor to make dependent orders. This basically means the investor would have the licence to launch a double order at the same time. This will be based on the market conditions in which only 1 of them can be executed. Another way is placing just a single order which can trigger another orders placing in the future. Out of all the many types of orders in forex people usually choose this one. 

Summary

So as we have mentioned there are many different ways and different types of orders in forex which have their own unique ways depending on the situation and road you want to go down. Some will work for you and some won't, but not all of them will work all the time, due to the circumstances and the situation as that can differ and change at different times. 

Sunday, December 8, 2019

BASIC FOREX TRADING KNOWLEDGE FOR BEGINNERS IN 2020


With global daily transactions exceeding $5 trillion, forex is regarded as one of the most dynamic and hottest markets all over the world. So what is Forex, we will discover through the following article.
Forex is a shortened form of Foreign exchange (sometimes abbreviated as FX) where traders, investors, banks and exchanges, buy, sell, speculate on currencies in the OTC market (over- the counter). Transactions were conducted May 24 through the interbank market.
What is forex trading and how does it work?
Forex trading is the activity of buying and selling currencies. The forex price is usually displayed in 4 decimal places, so it can show a small difference of spread (1 pip equals 0.001). however, no one can explain why a decimal is used and not another.
With transactions worth up to millions of dollars, the difference of a few pips between the bid price and ask price will bring you quite a profit. However, in the opposite case, it will also bring a significant loss when making a wrong decision. Therefore, with knowledge of beginner about forex trading, you must consider all risks that may occur to all your decisions.

This article is provided by BRKV Forex. The author is Mr. Fanara Filippo, a long-time professional forex trader. Go to BRKV for more helpful insight about the forex market.

Core Terminology for Trading

Position
"Position" is a term that the newbies in forex trading need to know accurately. It describes trading activity when the market goes up or down 
When a trader buys a foreign currency and expects the market to go up to sell that foreign currency and make a profit, the trader is in a long position. When the transaction is made successfully, the position of that trader will be displayed as "closed".
Another type of trader is to sell foreign currencies when the market shows signs of going down and buy at lower prices to make a profit. And when making a successful trade, the position of that trader will also be shown as "closed".
Used charts In Forex
Candlestick chart or Japanese candle chart is a chart that most traders like to use because of its visuality. It displays the opening, closing, highest and lowest prices of the trade on the same candle. There are 3 points to note when observing a candle that is open, close and wicks. The wick shows the range between the highest and lowest prices while the body shows the difference between the opening price and closing price. If the body is empty, it means that the price of closing is larger  than the opening; otherwise, if the body is colored, the price closing is lower than the opening.
The bar chart also features the candlestick chart as showing the highest and lowest prices at the top and bottom of the bar. The opening price is the left horizontal bar while the price of closing is displayed in  the right horizontal bar. The body in the middle of the two horizontal bars is the range of price fluctuations. Bar chart are used most commonly to detect reduction and price range increase.
For a newly-knowledged beginner in forex trading, the line chart is a good fit. It is just a line between the closing price of the previous trade and the opening price of the next trade. From there, the line chart clearly shows the up or down trend of the currency pair
Conclusion
Step by step learning and improving your forex trading knowledge through a variety of resources from beginner to advanced will help you go from a beginner to a professional trader. There are many useful programs that can help you at this stage: spread and profit calculator, currency converter pip calculator, market calendar, etc.

Tuesday, November 19, 2019

WHAT IS THE CENT ACCOUNT?

Cent accounts are trading accounts within retail foreign exchange trading with balance measured in cents instead of the US dollars. If you deposit $5 and your account will have a balance of 500 cents, deposit $10 and the balance will be shown as 1,000 cents. The Cent account is the ideal account for new traders - With a minimum deposit of only $10 this account feels like trading Forex in real money and helps to understand the psychology behind this experience, with a lower level of risk. This is the perfect account for beginners.
Check out forex trading knowledge for beginners


On the Cent server, a standard lot represents 100,000 units of any currency. The size of 1 Lot is equal to 0.01 Lot Standard or 1,000 units. The maximum volume per transaction on Cent server is 100 Cent lots, which is equivalent to 1 Standard lot or 100,000 units. Whereas a mini-lot represents 10,000 and a micro-lot represents 1,000 units of any currency. A one-pip movement for a standard lot corresponds with a $10 change. For example, if you buy $100,000 against the Japanese yen at a rate of ¥110.00 and the exchange rate moves to ¥110.50, which is a 50 pip movement, you have made $500. Conversely, if the exchange rate falls 50 pips to ¥109.50 your net profit and loss is minus $500.

Advantage of Cent account

As example about Cent account above. With a small capital, traders can easily enter the Forex market to experience and to understand the psychology behind this experience, with a lower level of risk. This is one of the knowledge for beginners in forex trading.

Another advantage is that the Cent account helps traders reduce leverage. Leverage in Forex is the ratio of money customers exchange with the volume that the broker trades. It is difficult to say which level of leverage is the most suitable option. Much depends on the trader's trading strategy and ability to look at the market. Usually the 1: 100 leverage ratio is considered to be average. However, the higher the leverage, the higher the trading volume can be, the possibility of interest also increases, at the same time it can also increase the risk.

Cent – account

Cent accounts do not limit the amount of money in your account

Another potential use for a cent account is a kind of a transitional stage between demo and dollar accounts being a first step into a real trading, an opportunity to decrease the minimum available position size to 0.0001 of a standard lot. However unlike a demo account - type of account provided by trading platforms such as Metatrader, Trade station… and there is a symbolic virtual currency available to help traders to experience the use of the trading platform as well as experience services from brokers. At Cent accounts, the risk will affect your real fund. In addition, there is no minimum or maximum deposit and no other specific requirements to open a cent account. Beginners can deposit a very low amount for Cent accounts. In contrast, because it does not specify the size, the broker can also provide a Cent account to the trader with a much greater value than other types of accounts (if the trader accepts the risk).
In case you're interested: Top best traders in India
There are currently hundreds of Forex exchanges open, so choosing a reputable broker is essential. According to the experience of brokers, XM of cent account is the most suitable Forex floor for investors. XM supports the 3 most popular trading platforms today: Meta Trader 4 (MT4); Meta Trader 5 (MT5) and Web Trader.

Sunday, October 27, 2019

HOW TO EARN MONEY LIKE THE BEST FOREX TRADERS IN INDIA


Even though India is not in top of the wealthiest countries in the globe, there still exist forex investments in this country. India has a more-and-more significant role in the forex financial market. That is because the people there get better salaries and want to use their saved money for investment. As a result, currencies has become one of the greatest choices. Nevertheless, to get enough knowledge to identify which broker is good in such large industry is still a problem among traders. Understanding that forex trading knowledge for beginners, we write this article to bring you some useful details related to forex regulation, commission and spread, and customer service. We hope that after reading our article, you can get more helpful information regarding the forex traders in India

Is there any difference between the general regulation and Indian regulation?   

The regulation in India is absolutely different from others. All forex transactions are regulated by an organization named SEBI (Securities and Exchange Board of India). SEBI was established in 1992 and took the responsibility for regulating the capital markets as well as the securities in India. Nowadays, the organization has more responsibilities such as issuing licenses, auditing, opening regulation, etc.  
As Indian trading currencies are not always legal, traders should be careful. Only Indian Rupee (INR) is legal, which means there are only for pairs for you to trade as a trader in India including USD/INR, EUR/INR, GBP/INR, or JPY/INR. Thus, as a forex trader in India, you should be careful about that. 

Are there any interesting things about commissions and spreads? 

‘Buy’ and ‘sell’ or ‘bid’ and ‘ask’ price are really different because of the making-money method of dealers and brokers which may be fixed, variable, or fixed with extra fee. It can be said that fixed spread is the biggest one in the forex industry. Some most popular currency pairs like EUR/USD or USD/JPY has about 2-3 pips in case they are fixed spreads. 
Unlike fixed spreads, variable spreads are dependent on the market conditions. Specifically, they will be 0.1-0.6 pips under the normal conditions, and will be up to 20-30 pips in case there are some fundamental database in the market. 
Additionally, some firms also provide traders with small fixed spread plus a small extra fee for small accounts like Cent account or Micro account. For example, you have 0.5 pip on EUR/USD, and the extra 6-7$ on a lot position of 100k. 

Are Indian forex traders offered any special customer services compared to others?  

Unlike in other countries, customer services in India do not cover the brokers’ characters, intentions as well as willingness to help traders. They want to get more than give, so if your transaction is in English, you had better go to some other places. 
Also, their online customer support is slow and not available to answer questions or solve the problems for customers, which indicates a bad business manner. 

In a nutshell, learning about the forex traders in India is a necessary thing, as the more knowledge you get, the more success you will achieve in the forex trading field. 

Wednesday, October 9, 2019

HOW DO FOREX BROKERS MAKE MONEY? YOUR ANSWER IS HERE!

When you are in trading forex, sometimes you forget to wonder how do forex brokers make money from Forex. My advice is to think that question carefully before joining Forex. This question is a good chance for you to have some forex trading knowledge for beginners before trading.
Also, you can understand more about money flow running in the Forex system. Your account is just for you, so you should put your trust in who partnered up with you. To help you understand about how Forex brokers make money, this article is a good answer for you.

When you have a thorough knowledge of ways of making money, they will help you and of course you need to choose the right brokers. A lot of brokers own several charges to be used to gain profits from their customers. If you are familiar with them, you will know exactly what your money is going.

How do forex brokers make money - from broker’s fees?

To many Forex brokers, they charge a commission per each trade. Other brokers will charge their spread in terms of the bid prices and ask ones. In general, the popular way for Forex brokers to make money is by either keeping their spread or charging a fee per round turn. Many brokers choose both of them but this seems less popular nowadays because the commoditization in the business demands tend to lower the price. 
Some careless Forex brokers told that they had free trades of commission but they tried to charge more in the spread to make the difference.

The spread is sometimes changeable or fixed due to many conditions. If there is a variable spread liquidity pool, the number of the spreads can be up to how many type of orders available. 

The spread can change (widen) if there is an important announcement about Nonfarm Payroll Numbers issued by the United States. This can have an effect on paying more in spread than what you wish, especially in a volatile market. 
This is a good chance for a fixed spread because you will be sure of what you will be charged to help with buying and selling

How do forex brokers make money - alternate sources of income?

Some brokers are ready to charge extra money for what they work with their customers such as service or education. They are some additional elements like offering signals, deep analysis or educational training or seminars for any traders who want to pay more or be offered a larger one. 
In fact, if you have a deep understanding of methods of managing trading and proper money, all the stuff is not necessary. 

Loan is a good way to make money offered by some Forex brokers. If you purchase or short a currency with margin, a loan can be resorted to. This activity can be risky and complex but it’s enough for brokers with larger amounts of orders can get profits from transactions in the market. 
In spite of what you are told by other people, you don’t go anywhere by the true Interbank market, because the orders can have larger amounts to work out. Basically, the Forex brokers will have business with the liquidity providers which seek for those orders in smaller amounts. 
This will allow people to exchange with each other. In fact, the true Interbank markets are composed of many large and popular banks all around the world. If there is any small trader ($500), they won’t trade with you. 
I hope that this article will help you to answer the question: How do forex brokers make money? Based on the answer, you can apple these ways to your Forex trading career.