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Everything posted by Simon

  1. Hello Linah, CFD being a suitable investing alternative to other traditional investments, has attracted so many people to be part of it. It's easy to open an account and operate it using CFDs, amongst other benefits that come with it. Therefore, you need to do thorough research about its markets, understand when it is right for you to place a trade and some risks which you might face while engaging in this trade. In as much as CFD gives you an opportunity to diversify your risks, some traders, especially the new ones, often risk way much than they are supposed to and end up making major losses. You are therefore required to manage your risks appropriately and avoid over-leveraging. Your account also is on the risk of being closed if you do not manage it well and deposit the additional amounts that will offset the margin requirements. This market is also highly volatile.
  2. Hello Linah, Retirement savings account, also known as Roth IRA, usually allows your savings to accumulate without being taxed. The money you finance your Roth with is usually already taxed. This money will fill out, and at the point of withdrawal, you are not obliged to pay any taxes for it. So the answer is yes. You can invest ETFs in your Roth IRA. The good thing in investing ETFs in your Roth IRA is because ETFs here are low-priced, and it is always a constructive way to invest while retiring. ETFs are an excellent way to put up a firm portfolio as they offer entrance to specified zones of the market. Their fees are also affordable compared to other long-established mutual funds. ETFs are also broad-ranging. However, due to financing moderation, coming up with leverage in a Roth IRA is practically impossible. Good luck!
  3. Simon

    Why should I own an ETF?

    Hello Moses, An exchange-traded fund (ETF) is a money market fund that is traded similarly to stocks on stock markets. ETFs are effectively provided on assets such as traditional investments, commodities, shares, or even currencies. In recent years, ETFs have been designed as one of the chief and treasures products for individual stakeholders. Exchange-traded funds, if well utilized, will help an investor achieve their goals. ETFs operating costs are much lower compared to other open-end funds. They will also allow you to trade whenever you can. If you want to build your trading portfolio, then this is the go-to investment option for you. Other than this, You will enjoy significant tax benefits with ETFs in comparison with additional mutual funds. You can never forget how important risk management is while investing. Through ETFs, you can certainly be able to diversify your risks and manage them. Why not start investing with ETFs?
  4. Hello Moses, Forex trading necessitates the buying and selling of currencies. Forex market came about due to the need to exchange currencies for trading purposes. One of the most traded currencies is the U.S. Dollar. It is actually the most valuable currency in the world. One of the main reasons why the U.S. Dollar is famous is because the USA has one of the largest economies. The EURO, even though it's among the youngest currency, is the second most traded currency. Currently, over 500 million people in the world are using it. The economic blow in the region where it is widely used makes it among the most traded currency. The third most used currency is the Japanese Yen. Its strength depends on the competence of the Japanese economy, especially in the manufacturing sector. Others that follow closely are the Sterling Pound and the Australian Dollar.
  5. Hello Moses, Experienced traders mainly use a contract for differences, as it is an advanced strategy. CDF is a setting whereby the differences in agreement between opening and closing trade prices are settled by cash. It requires the seller to pay the buyer the difference in the present-day worth of an asset and its price during the time of the contract. Here, you are not supposed to buy nor sell the commodity; however, you should barter in the number of units in that commodity according to whether you speculate that the prices will rise or fall. CFD instruments may include, amongst others, shares and stock indices. If the cost of a tool favors you, then you get the amount of CFD units that you have bought or sold. If the price of the instrument does not pick you, then you will be making a loss.
  6. Hello Moses, Forex brokerage links forex traders with their market. It provides them with a way to reach the banks, therefore, enabling you to buy a currency pair to hold on to easily. They give opportunities to clients to trade on every significant currency pairs. They will also permit them to trade on upcoming market currencies. Forex brokers make it easy for a trader to open trades through buying currency pairs and close trades by selling the exact pairs. Over the years, they have upgraded their services by allowing clients to open accounts online, which is fast and straightforward. Forex brokers help clients learn how to carry out trade. These entities, however, make money in the process of assisting traders in executing successful trades.
  7. Hello Moses, Where should I trade on Forex? It is a question which most traders ask, especially those that have just joined the platform. You always need to do thorough research on where you should trade according to your trading styles. One of the best trading platforms is Plus500. Here, even with a little amount of money, you can be able to control assets worth a considerable amount of money. Oanda is another good forex trading platform. In this platform, you can begin with a demo account. Markets.com is also good, especially for new traders, since it is straightforward. You need to use a platform that is easy to analyze so that you can trade with confidence. That way, you can execute winning trades easily. EasyMarkets, which is a web-based platform, offers features that are favorable for beginners, and it is also uncomplicated. I wish you all the best!
  8. Hi Moses, when selecting the best Forex trading technique, this will all depend on an individual. Therefore, what works for one person may end up being a disappointment to you. You should, therefore, weigh yourself down and consider what works best for you. One of the strategies you can use is that of a 1-hour trading technique. One of the currency pairs you can trade with this technique is GBP/USD. Another strategy is that of weekly trading since it is more stable. It provides sizeable market information. You can also use a momentum indicator technique whereby the preceding closing price is compared with the latest price. This strategy helps show the market strength. Always go for what suits you best. Good luck!
  9. Hello Moses, there are several misconceptions about whether one can trade during the weekend. Most people, as usual, will want this precious moment to themselves. Each market operates differently depending on when it seems fit for it. Some will run from Monday to Friday. Others will open 24/7 while others during the weekend. So yes. It's possible to trade on the weekend. One advantage of operating during weekends is that you will be able to study the market in which you work well and in peace. A trader will use this time to look for opportunities and come up with strategies to improve their trade. Also, during the weekend, there are fewer distractions; hence you will be able to concentrate better and make enhanced decisions for your business.
  10. Hello Moses, yes. It's very possible to have multiple trading accounts. However, you should be aware that you can't open multiple trading accounts with the same trading platform (broker). If you wish to have multiple trading accounts, you will have to register with different brokers. The good thing is that you can link the same bank account with multiple trading accounts. The advantage of having multiple trading accounts is that you can enjoy different trading tools/features offered by different brokers. Nevertheless, there's a disadvantage in this as you'll have to manage the multiple trading accounts. You'll have to open the multiple accounts and trade on both platforms as long as you need to reap out the fruits. Trading on multiple accounts can be hectic and time-consuming. Good luck!
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