cex.io-review

CEX.io Review

Established back in 2013, CEX.IO initially operated as a cloud mining provider that was in charge of about 40% of the Bitcoin network at that time. However, since 2015, it has solely operated as a cryptocurrency exchange.

Broadly speaking, CEX.IO is a platform that allows users to buy/sell or trade Bitcoin, Bitcoin Cash, Ethereum, Ripple, Dash and many more popular cryptocurrencies in the easiest way possible. It is a plain and comprehensible platform having an increased focus on newcomers who wish to get the hang of cryptocurrency.

Options available on CEX.IO

There’s no rocket science here. Speaking of financial operations made available for its users, CEX.IO includes two basic options: Buy/sell and Trade. Let’s consider each of them a bit closer.

Buy/Sell

buy-bitcoin-cex-io

You may be wondering what’s the difference between trading and buying/selling. In general, there’s no difference. But, on CEX.IO, Buy/sell is a solution for people who don’t really need to engage in trading but only wish to buy a certain amount of cryptocurrency instantly and without any effort. See for yourself:

cex.io review

Under the hood of Buy/Sell, there’s a FOK (Fill-or-Kill) order system. Once you entered the amount of money you want to spend, the system freezes the rate of cryptocurrency for 2 minutes. In other words, it guarantees that you will buy THIS amount of crypto for THAT amount of money. On top of it, the total amount displayed includes all the fees of the platform so that you won’t receive any unexpected or hidden charges.

Cryptocurrency Trading on CEX.io

crypto trading

The Trade section, in its turn, includes three various trading options:

  • Limit. You specify the predicted rate at which you are ready to strike a bargain. In case it comes true, the order will be automatically executed, no matter if you are at work or sleeping. So, the limit order option is a risk-preventing mechanism for traders in a sense.
  • Market. This is all about traditional trading. All you need is to choose the amount of cryptocurrency to buy or sell, and press the “Place order” button. It will be executed based on the order book and at the best rate possible at the moment. For those who don’t want to count up the profitable rate, the average market price is inserted by default.
  • Margin trading. In a nutshell, this option allows users to enlarge their trading profits by means of borrowing money from the exchange. The hallmark of CEX.IO’s margin trading is that all operations are done within one account and money balance, whilst most of other exchanges require the users to make a separate margin trading account with funds in it.

Verification

Formerly, CEX.IO would let you deposit/withdraw $3,000 monthly without a need of verifying yourself. Now, the attention to cryptocurrency is much higher, so the regulating issue is more of a pressing point. You can read about it on their blog.

As to the process of verification, there’s nothing complicated about it. Going through CEX.IO’s official guide is enough to get the know-how.
Payment options

When it comes to deposits/withdrawals, you basically have two options:

  • Easy || Instant || Commision charged. CEX.IO made it possible by virtue of money transfers via Visa/Mastercard. First of all, you should link a bank card to your account. And once you’ve done this, funds can be transmitted literally in seconds. If you feel restless about your bank card data, it would be proper to mention that CEX.IO is PCI/DSS certified, which ensures the safety of card data processing. To conclude, the only disadvantage is the fact that a 3.5% + $0.25 deposit fee is imposed on this payment method. In terms of withdrawals, the fees will vary: $3.8 – for VISA, and $3.8 + 1.2% – for Mastercard.
  • No commissions, but longer execution. It is referred to as bank transfer. There’s nothing to add here. CEX.IO doesn’t charge commissions if you use it for deposits, but the transaction can stay pending for some time. As for bank withdrawals, commissions depend on the currency and the specific withdrawal opportunities available. You can always find the information on the fees in the Limits and Commissions section.

So, what is CEX.IO in summary? CEX.IO is a plain, trusted and easy-to-use cryptocurrency exchange, offering great functionality for regular customers who wish to unveil the cryptocurrency sphere with no hassle.

bitcoin simply explained

Bitcoin and Blockchain Explained Simply

Bitcoin took the world by storm over the course of the last twelve months with the meteoric rise in its market value.

Bitcoin peaked at an all-time high of $16,699 on December 8, 2017, and made the headlines across the globe.

Bitcoin is no doubt innovative as a payment option, and it runs on Blockchain technology.

An understanding of the Blockchain is equally important for anyone who is keen to follow-up on its underlying basics. Blockchain is best described as a distributed ledger that operates within a decentralized network of linked computers, nodes and devices. 

There is no central control over the Blockchain, and it can be accessed anywhere around the globe.

The use of Blockchain extends across several spheres of human endeavor from medicine to shipping, payment systems to database validation, etc.

Payroll processing, invoice management, and Insurance are some of the other facets of life that are revolutionized by the Blockchain. Bitcoin value in itself can be traced to the transparency, traceability, and auditable nature of the Blockchain.

How Bitcoin is Created

Bitcoin arose from the innovative work of Satoshi Nakamoto, who laid out the specification and operating methodology. Satoshi did not create Bitcoin alone, as he worked with other developers on the project. As a result of this approach, Bitcoin operates as an open source and decentralized platform.

While many people have wondered whether Satoshi was a pseudonym or a true identity; the answer remains unknown. Other collaborators on the Bitcoin project are Gavin Andresen, Jeff Garzik, Mike Hearn, among others. Bitcoin is definitely the outcome of a painstaking work that includes the footprints of several people.

Bitcoin is created when a computational difficulty is solved on the Bitcoin Blockchain, and this is rewarded through block rewards. Block rewards are given to miners who successfully completed the recognized process that gives rise to a Bitcoin. Block rewards are not arbitrary as they are subject to a verification process built-in as a part of the Bitcoin algorithm.

The Acceptance of Bitcoin

acceptance of bitcoin
Statista.com Image -Global Spread of Bitcoin Usage

Bitcoin has come a long way since it was first introduced in 1998, and it has become a global currency without boundaries. The value of Bitcoin is universal, and it is accepted as a means of payment in many countries on earth.  The popularity of Bitcoin has given rise to alternative coins (or altcoins) like Ethereum, Bitcoin Cash, Ripple, among others.

You can shop online and buy a range of goods and pay for services with Bitcoin. Many merchants accept Bitcoin as a means of exchange, and this has become easier with the issuance of Bitcoin debit cards.

The bandwagon effect of Bitcoin has led to a growing acceptance of the altcoins, and this can be seen in the increasing market activity. For example, ethereum price leaped to its highest peak of $1,389 on January 15, 2018 as the demand for it exploded. Bitcoin is accepted by businesses like Microsoft, Dell, WordPress, and PayPal.


Answers to Important Questions – There are some important questions that newbies always ask about Bitcoin. Here are the major ones you should know:

What Drives The Price of Bitcoin?

Bitcoin derives its price from the interplay of the forces of demand and supply. As people increasingly acquire it, the price soars and the inverse leads to a price drop as demand reduces. Bitcoin can then be seen in the likeness of gold or diamond that is scarce in supply.

Bitcoin is limited in supply to the tune of only 21,000,000, and about 17,000,000 of these are in supply at present. It is not known if any change can be made successfully to the underlying framework of Bitcoin; otherwise, it has a fixed supply.

Is Bitcoin Legal?

Bitcoin has attracted lots of controversies in the course of the last few months as a result of concerns and misrepresentations. The United States, Europe, and several countries have accepted Bitcoin as legit, and efforts are being made to regulate it. This is not to say that it faces opposition in a couple of countries.

In China, Bitcoin is illegal, and South Korea has also imposed a couple of restrictions on it.  A few other countries have come up with laws to restrict its use. However, an overwhelming number of countries are open to Bitcoin.

Are Bitcoin Transactions free?

One important aspect of Bitcoin transactions is the fact that it also attracts transaction fees. While the fees charged might vary according to the processor, transacting in Bitcoin is not free. When you buy Bitcoin, you have to pay trading fees, and if you exchange it for fiat money, you will incur charges.

What is a Bitcoin Account Like?

Bitcoin is stored in an account that you can liken to a Bank account. The difference is that unlike a Bank account, your Bitcoin account is a virtual Bitcoin wallet. There is a unique address for each Bitcoin wallet that is created, and you can use it globally.

On a trading exchange, when you create your account, your Bitcoin wallet address is automatically created. You can choose to leave your Bitcoin on the exchange for trading or withdraw it to a private Bitcoin wallet. There are hardware, online, mobile, paper, web, brain, multi-sig, desktop wallets for Bitcoin.

There are different kinds of non-exchange wallets that you can use to store your Bitcoin for security purposes. Every wallet has a public wallet address and a private key used for accessing it. Your private key is like your password for emails.

Where Do I Buy Bitcoin?

Bitcoin can be bought in a variety of ways depending on where you live on earth.  The following options are widely used:

1) Peer-to-Peer Avenues
Peer-to-Peer avenues like LocalBitcoins give you an opportunity to buy Bitcoin. You will need to register an account on the platform to be able to use the platform to buy Bitcoin. Sellers and buyers are registered on LocalBitcoins to facilitate Bitcoin trading.

2) Bitcoin Exchanges

Bitcoin can also be bought by using an exchange. In any of the exchanges like Coinbase, Binance or Poloniex, you need to provide your personal details to register an account and be validated. While Coinbase is restricted to users from America and a few countries, you can register on Poloniex and Binance from other countries.

3) Bitcoin ATM

Bitcoin ATMs are increasingly becoming a glaring feature in major global cities. In America, Europe, Asia and South Africa, there are Bitcoin ATMs that give you a chance to buy Bitcoin. You need to have your Bitcoin account barcode scanned at the ATM to buy the quantity of your choice.

If there is a Bitcoin ATM around where you live or visit, you can locate it on Google Map and buy your Bitcoin with ease.

bitcoin atms
Google Map of Bitcoin ATMs in New York City

4) Mobile Apps

Buying Bitcoin is now easier than ever before with several apps on mobile phones now making it easier to do so. The Square app can be used to buy and sell bitcoin on your mobile phone.

Several other apps have a similar function, and they can be downloaded from Google Play and Apple iStore.

Can I Lose My Bitcoin?

Bitcoin is safe if you have it stored in your private wallet. There is a difference between storing your Bitcoin in your trading exchange wallet and a private wallet. Your trading exchange wallet is considered to be risky to store your Bitcoin.

When hackers attack exchanges or there is a system breakdown, you can lose access to your Bitcoin. To prevent this, it is advisable to use a hardware wallet for storage. Trezor and Ledgerwallet are two of the best known hardware Bitcoin wallets.

You can also lose your Bitcoin if you send it to a wrong address. It is important that you use ‘CTRL C’ on your keyboard when copying a recipient’s address. If you send Bitcoin to an unknown address, there is no way to claim it back at present.

Can I Mine Bitcoin?

Bitcoin can be mined by anyone who is interested in doing so. There are a few options when it comes to mining Bitcoin. You can decide to buy a mining gadget for that purpose and this is a common practice in many countries.

While the profitability of the mining exercise also depends on the market price of Bitcoin, the electricity implications have to be evaluated. As Bitcoin surges in market price, mining becomes more lucrative, and a crash in market price also means that you could incur losses.

You can also decide to use your PC for Bitcoin mining, and this will require that you download a Bitcoin mining extension by using your browser. Using a browser extension for Bitcoin mining is a rather passive means to earn an income. You will be credited a share of the Bitcoin mined with your browser by the service provider.

The outlook for Bitcoin looks bright with many countries opting for regulation instead of a ban. This perception is a green light for many people as they look out for ways to share in the Bitcoin boom. Evidently, Bitcoin will wax stronger in the days ahead.

hurry forex

Why Traders Hurry In Forex

Forex market is very old and there are many traders who have been trading in this market for a long time.

You will find they have the age of your grandmother and still they trade with patience in Forex. This thing is absent in the modern traders and they are all in a hurry.

They want fast result, they want short-term strategy, they want trend changing fast and they also trade in commodity market for making the fast profit. There is one thing in Forex that is always true and that is success never comes easy.

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You cannot expect that you can be rich if you are using day trading or you are scalping. Trading in Forex depends on how you are making the use of your time. If you want, you can place 100 trades in one day and lose most of them.

If you want, you can only place 2 trades in one day and win them. This article will tell you why people are always in hurry even after knowing that it will not do them any good.

Human greed

Greed is very dangerous when it comes to currency trading. Since the Singaporean traders have access to high leverage trading accounts, many traders often trade with a big lot to change their life.

Leverage is one of the most sophisticated tools offered to you in the investment world. You have to be extremely precise about the use of leverage or else you are going to blow your trading account. Learn to control your greed to become successful a trader.

There is no shortcut in the trading industry

Do you want to become rich within a short period of time? Do you want to change your life in a blink of your eye? If so, trading is NOT the right profession for you.

Trading is like your traditional business where you will have to assess the market with precise knowledge. You need to learn the use of advanced trading tools in your trading platform so that you can enhance your winning edge. Always try to trade with the elite class broker like Saxo so that you can experience premium service in the Forex industry.

All want easy money

The reason behind they are hurrying is they all want to make easy money, it is hard for them to think the market is going to change and they have not made a profit. They want to trade and they think wasting time is not going to bring them profit. They become brave and place the trades on the market. The result is known to us all.

This market may seem random but it is not and only the hardworking people are successful in Forex. If you want to make easy money, this market is not the right place for you. Only the experienced and patience traders can make the change in their career.

The wait is the important strategy in Forex trading that can make the transition from ordinary and common to successful and master trader.

Waiting is hard when there is so much money

You may think people do not know they need to wait for time to make the profit but most of them know but it is not easy to control your mind.

You begin to think when you are going to make money and as it is the biggest investment market, it is not easy for people to control their greed. Many traders have the nature of pigs and they lost their money. They want to make the profit and when they place their trades, all they have is only losses.

Millions of trades are being made in every hour and billions of dollars are at stake. It makes it hard for the traders to go home without trying. The results are they place in trades in whatever trends they get in Forex.

gold exchange traded funds

Best Gold ETFs

Are you considering investing in gold? Are you curious about other ways to do it besides buying it in a physical state?

As it turns out, there is only one other way to do so and that is via an exchange-traded fund. While you may have to deal with a yearly expense ratio, you will not have to insure or store your gold all on your own.

Of course, if you are going to trade ETFs, you will need a broker. And some of the best brokers that allow you to trade ETFs as well as gold are eToro and Pepperstone.

The bottom line is there are 3 main gold ETFs right now.

  1. SPDR Gold Shares
  2. iShares Gold Trust
  3. ETFS Physical Swiss Gold Shares

SPDR is by far the largest of the three. However, the other two are also pretty substantial in their own right. But before we go any further, let us ask ourselves if gold is a worthy pursuit to have in our portfolios.

Why would you want gold in your portfolio?

It is not merely because it is – well, gold. There are plenty of other reasons that make it a highly sought after commodity in the online market at least.

Value is certainly a driving factor. The value of gold usually stays apace with inflation because the US Treasury will keep producing more money, but the amount of gold in the world is finite. Of course, we have not reached the end of that supply yet. But the fact that the supply gold is not unlimited gives it an inherent capability of keeping up with inflation rates year after year.

Moreover, gold has been shown to perform better than other assets in times of difficulty. If we look back at the financial crisis of 2008, we can see that gold was still able to generate a 4.3% rise while S&P 500 sunk by a whopping 38.5%.

Finally, as an investor interested in ETFs, you obviously care a lot about diversifying your portfolio and here again, gold can be very useful. This is because its movements are largely independent of the movements of other assets. Very often, you can find gold shifting in the direction opposite to that of other stocks. It is no surprise then that investors have deemed it a “safe” asset.

Best Gold ETFs To Invest In

  1. SPDR Gold Shares

This is a fund where purchases are made in gold bullion. Selling gold only happens only when there are expenses to be paid for or redemptions to be honored. Being so heavily invested in bullion, it very closely follows the trending prices of gold.

There are some neat benefits to be had from owning gold bars. First off, they cannot be loaned and every share has more value in gold than shares that do not purchase gold in its physical form. The drawback here is taxes. Since the IRS has labeled gold to be a collectible, the taxes imposed on long-term gains are pretty high.

  1. iShares Gold Trust

If for some reason, you have overruled SPDR in your list of options, this is another fund for you to try. Be informed that it sustains bills for insurance, transportation, and warehousing. The gold is stored in a series of vaults spread out across the globe. IAU has also developed a reputation for being a safe fund because of its unusual policy of not selling gold when prices are up to make a profit. Rather, its management focuses on investors being able to purchase and hold their gold bullion.

We mentioned at the beginning that there are certain expenses that must be paid. The good news is that these expenses are considerably low, making this fund a cost-efficient way of purchasing and managing gold. However, once again you will be subjected to taxes from the IRS which has labeled this fund a collectible as well.

  1. ETFS Physical Swiss Gold

This fund has its gold sealed tight in a vault in Zurich. It is also a very liquid fund so you can make purchases and sales without too much trouble. The only real standout feature about this particular fund is that unlike others that store real gold, it has all of its supply stored only in Swiss vaults.

But then again there is no reason to own Gold ETFs.

Conclusion

If you have by now already assumed gold to be a completely safe investment, hold your horses, because that notion, although backed by some strong evidence, is not entirely proven.

how etf trading works

How ETF Trading Works

Exchange Traded Funds are one of the best ways to diversify your investment portfolio as provide exposure to a multitude of different markets and industries – but then, so do mutual funds.

So if you were to choose one over the other, how would you go about it?

Of course, you could invest in both simultaneously if you have an ample of amount of dough to spend. However, that is not the case with a lot of traders.

So in this article, we try and explain the reasons why you might fancy investing in ETFs over any other alternative.

As far as investment portfolio diversification and exposure goes, we often see ETFs and mutual funds being listed alongside each other as very strong investment strategies.

That is because, in a number of key ways, they are quite similar. But crucially, in a number of key ways, they are also very different.

ETFs trade in the same way as stocks do and can be traded any time during the day. That affords them with a number of attractive qualities that mutual funds simply do not have.

Reasons to Invest in ETFs

Here are some of the key reasons why you would want to invest in ETFs exclusively.

1. Flexibility

ETFs cover a wide variety of markets and industries. In fact, some of them even represent the economy of an entire nation. The main benefit of this kind of diversity is that it effectively allows investors to ‘hedge’, relying on one investment to compensate for the risk associated with another.

But it is not merely with investing that ETFs offer flexibility. That quality is also present in the transactions. Since ETFs trade like common stocks, there are no time constraints on when they can be purchased or sold. To put that into context, if you wanted to short sell a mutual fund, you could be liable to pay penalty which could be as high as 1% of your initial investment. And the early sale period could be as long as 90 days after the purchase.

2. Low expense ratios

Owning and managing an ETF can be remarkably less costly than doing the same with a mutual fund. One study shows that in most categories, ETFs have expense ratios that are lower than mutual funds.

That said however, investors who prefer mutual funds will point out that the sum of commissions for all transactions combined with the scale of the bid-ask spread is enough to nullify the benefit of having a low expense ratio. Incidentally, these are both costs that do not apply to mutual funds.

3. No minimum purchase

If you have had prior experiences with investing in mutual funds, you will be aware that a lot of them have a minimum purchase amount which can be anywhere between $100 and $3000, maybe more. In fact, it is not unheard of for a minimum purchase to be as high as $50,000.

Fortunately, there is minimum purchase amount attributed to ETFs. You can literally invest in one share at a time if you want to.

4. Lower taxes

Once again, ETFs out-cheap mutual funds when it comes to capital gains taxes mainly because of the way each trade is structured. With a mutual fund trade, capital gains taxes are applied immediately whereas with ETFs, those gains are not realized until after the securities are sold along with the whole fund. That makes them a lot more cost-efficient when it comes to taxes.

5. Derivatives

When managing your portfolio, it is important to focus on risk management as well as diversification. A lot of ETFs offer plenty of useful tools to control risk including futures contracts, options, and swaps. So chances are, you can find a fund where you can hedge your bets with call or put options, or trade with option straddles.

However, some ETFs do actually contain options and futures in which case you should find out about how they may affect your trading strategy and the amount of risk involved.

Conclusion

These are just some of the many benefits you can have by trading ETFs over their alternatives. These benefits have been a driving factor in the popularity of ETFs since the early nineties and they continue to be so even today.

how etfs work

How Do ETFs Work

ETF is short for Exchange-Traded Fund and is essentially a collection of securities that can be traded via a broker on the stock exchange.

It is actually among the most valuable products private investors use these days.

This is due to a number of crucial benefits that it offers as well as the capacity to achieve investment goals if prudently used.

There is an ETF available for virtually anything– from traditional investments to alternative assets.

What’s more, investors can also make use of unique and intuitive structures of various ETFs to steer clear of taxes for short-lived capital gains, short markets, as well as gain leverage.

ETFs are different from mutual funds in that they trade like common stocks on the stock exchange. Therefore, they do not have a net asset value or NAV to be calculated at the end of each day.

> Differences Between Etfs And Mutual Funds

ETFs also usually have a higher liquidity and lower fees on a daily basis compared to mutual funds which further elevate their appeal to private investors.

How big are ETFs today? In the United States alone, they have attracted an estimated $1 trillion from investors and have roughly 1000 products trading on stock exchanges all over the country.

An ETF can be bought or sold just like shares of stock since the shares of an ETF are traded on a public stock exchange. Shareholders receive a percentage of the profits, and a residual value if the fund liquidates.

Creation and Redemption

The amount of ETF shares is controlled by a system called creation and redemption. It involves a few big investors or authorized participants and large financial agencies like banks or investment firms that have a high capacity for making purchases. Such APs are the only participants capable of creation and redemption.

In creation, an AP trades a certain number of underlying assets and receives in exchange some newly created ETF shares. Redemption is when the AP returns the ETF shares and receives the underlying assets.

Types of ETFs

There are many different types of ETFs to become familiar with. Fortunately, they are not that hard to get.

  1. Market ETFs are aimed at keeping track of specific indexes like S&P 500 or NASDAQ.
  2. Bond ETFs are designed to give some insight into various types of bond.
  3. Sector and industry ETFs give exposure to industries like technology, medicine, and crude oil.
  4. Commodity ETFs keep track of the price of a given commodity such as oil, precious metals, and food items
  5. Style ETFs keep track of certain styles of investment or focus on market capitalization.
  6. Foreign market ETFs keep track of markets like the Hang Sang index in Hong Kong and Japan’s Nikkei index and others which are outside of the United States.
  7. Inverse ETFs at making a profit out of a declining underlying market/index.
  8. Alternative investment ETFs: These refer to innovative ETF structures like those that enable investors to be exposed to certain investment strategies.

Advantages of ETFs

  • Ability to buy and sell at any time of the day.
  • Investors can place different types of orders since ETFs are traded in much the same way as stocks
  • Without counting brokerage commissions, fees are generally lower as there is no sales load.
  • Offers investors more control when dealing with taxes such as when they have to pay their capital gains tax.

Disadvantages of ETFs

  • Given that your strategy is to invest small amounts on a regular basis, it would be more cost- efficient to consider alternatives that invest directly in a no-load fund with a fund company.
  • Technical problems and discrepancies are not unheard of in ETFs that keep track of their underlying Index.
  • An ETF sale will not be settled until after 2 days of the transaction. So as a seller, the funds you receive from selling an ETF cannot be reinvested for at least a couple of days.

Conclusion

Happily, however, ETFs will continue to be the subject of innovation, speculation, and advancement for years to come. The key is to be fairly picky about which one you choose to advance your trading goals because, as we know, not all ETFs are created equal.

Pepperstone Review

pepperstone review
Rating: rating
Pepperstone is a trusted trading platform based in Australia

  • Minimum Deposit: $200
  • Accept US traders: No
  • Our Rating: 4.5/5
Promo: Quantas Points » Sign up now

Broker founded in 2010 and based out of Australia, Pepperstone is one of the forerunners in the online broker business mostly thanks to its innovative and intuitive trading platform among other benefits.

But of course, with most traders, all that counts for nothing if it is not licensed by a recognized government agency.

Fortunately, Pepperstone’s services are licensed and regulated by the Australian Securities & Exchange Commission. All operations are run online. Headquarters are located in Melbourne with additional branches in Dallas, Texas, and Shanghai.

How important is Pepperstone in the online trading community? Quite a big deal actually. In 2014, it was named by the BRW magazine as the fastest growing company in Australia and was also a winner at the Governor of Victoria Export Awards.

Pepperstone Trading Accounts

Pepperstone allows traders to manage multiple accounts. The Edge standard account is designed for regular traders. It contains Institutional Grade STP Spreads and is free of any commissions.

Meanwhile, the Edge Razor account is for more EA and advanced traders. It has Raw ECN spreads from .1 pips. The commission rate for this type of account is $3.5 per 100k trade.

The Pepperstone Platinum account is meant for active traders and institutional partners of the broker. The Platinum account is so called as it offers an improved range of services and execution of ECN EDGE.

Muslim traders have access to an Islamic account where the swap rate is activated whenever positions are being held overnight without generating any interest in the forex trades.

Finally, there is the demo account which allows you try out the services of the broker without actually risking your own money. This makes a broker so much more accessible to novice traders hoping to learn how the game is played. What’s more, Pepperstone’s demo account uses the famed MT4 trading platform.

As mentioned earlier, you can manage multiple accounts at the same time, in which case you can make use of Pepperstone’s Multi Account Manager. Moreover, each account allows you to trade a diverse array of trading assets from currencies to commodities and even soft commodities.

Pepperstone’s Main Features

We have mentioned the Edge environment a few times now and it is one of Pepperstone’s most attractive features. It is actually the most the advanced assimilation of forex technology in the world. It has the capacity to execute trades at light speed while keeping the accompanying spread as fat as a piece of fine string. What’s more, traders can use the EDGE environment to trade ECNs on the MT4 platform directly.

Another crucial benefit afforded by the EDGE environment is an uncanny level of market depth, a definite clincher for forex traders. Any given block order or scalping goes into the market with best possible price efficiency.

Moving on to Pepperstone’s electronic trading system, it has been formed out of a collaboration between the broker and Equinix – a NASDAQ listed firm – and features a state of the art infrastructure for forex trading.

Pepperstone also gives access to several auto trading and social trading systems such as MyFXBook, AutoTrade, RoboX, MirrorTrade, ZuluTrade, and MT4 signals, all of which allow you to accurately copy systems of other traders.

The minimum initial deposit for opening an account with Pepperstone is $200 with leverage going up to 1:400.

A lot of brokers will require you to download and install their platform before using it. But Pepperstone Webtrader allows you direct access to your MT4 account with no prior need for a download or installment. The platform is compatible with most of today’s major operating systems like Mac, Windows, Linux, and OSX.

Deposits/Withdrawals

You can make deposits to your Pepperstone account with a variety of payment options such as credit/debit cards, bank wire transfers, and of course online applications like Neteller, Skrill, WebMoney, and Qiwi.

To make a withdrawal, you must first fill in a withdrawal form online. Withdrawals made via bank wire transfer usually take between 3 to 5 days to be processed.

Conclusion

As a broker, Pepperstone really does bring a lot to the table. Not only does it allow traders to use the very latest in forex trading technologies, it is also backed by a 24-hour customer support team that communicates with clients in multiple languages. It is about as good as a broker gets these days.

Broker Name Pepperstone
Regulation CYSEC, ASIC
Website www.pepperstone.com
pepperstone Minimum Deposit $200
Minimum Trade $1
Depositor Bonus None
Maximum Payout n/a
Free Demo Account 30 Day Practice Trading Account
etfs

Differences Between Etfs And Mutual Funds

The investor centre is fraught with decisions – domestic or foreign, stocks or bonds, value or growth, ETFs or mutual funds?

The latter may not be a particularly pressing dilemma. Nevertheless, being aware of the differences and similarities between them can have a profound impact on the amount of money you make and how easily you make it.

Check out the best brokers to trade with: Top Rated Broker List.

ETFs vs Mutual Funds: Similarities

The first similarity to note between ETFs and mutual funds is that they both allow you to purchase a collection of securities as one investment security. But there are more similarities

  1. They have great utility in terms of diversifying your portfolio.
  2. They also tend to invest in the particular market of stocks and bonds.
  3. The majority of ETFs are passively-managed in much the same way as index mutual funds. That means that they will exactly replicate the performance of the underlying index. Also, the expense ratios are much lower than they are with actively managed funds.

That said, however, the meat of this articles is based squarely on the differences between ETFs and mutual funds. So what are they?

ETFs vs Mutual Funds: Differences

Pooling your money into a mutual fund is essentially pooling it with whatever company that is managing it. You can do this directly or have it done through a broker.

The buy is carried out at the net asset value of the fund which is calculated using the price as quoted when the market closes up for the day. Of course, if you happen to place your order after closing time, that figure will be taken at the end of the next day’s operations.

Predictably, that same process is reversed when you sell your shares but there is a catch. There may be a penalty attributed to some mutual funds if you decide to sell early. This can sometimes amount to 1% of the total value of shares and the period in which a sale is considered early is usually sooner than 90 days after the purchase.

Now ETFs are quite different in this regard. They trade in much the same way as stocks do – between two private investors instead of one investor and some corporate behemoth.

Purchases and sales can happen at any time that takes your fancy at whatever price the market is currently trending. There is no need to wait until the end of the day and there are no penalties tied to the shares for selling out early.

This enhanced flexibility really comes into its own when you consider that ETFs keep track of international assets, where prices that have already been updated in US markets are yet to be updated elsewhere.

Compared to mutual funds, ETFs do a much quicker job of relating new market information.

Another key distinction with ETFs is that they keep track of indexes like S&P 500 and attempt to mirror their returns and price shifts. They do this by putting together a portfolio to match the elements of the index as accurately as possible. Not to say that mutual funds are not capable of doing the same.

However, they are under active management by people who are always looking to usurp the index which they consider to be their benchmark. Also, they can be considerably more expensive. Active management naturally requires a hoard of analysts, extensive research into the economy and different industries and that makes a mutual fund a lot more costly to invest in than an ETF.

Which should you choose?

ETFs? Mutual Funds? Or both? Neither of these is a particularly bad option. The main concern for investors here is the cost involved relative to the gains.

Then there are the different types of investments for which one of the funds will be more beneficial than the other.

It is also useful to tap into the performance history of a fund which will help you evaluate your profit potential with it.

Finally, it is not absolutely necessary for you to choose between them. ETFs and mutual funds can actually work to further diversify your portfolio so long as they do not compromise investment goals or pose too much of a risk.

Conclusion

As you can see, ETFs and mutual funds can be incredibly resourceful and rewarding to invest in, and knowing what sets them apart from each other will help you deal with them a lot better than you otherwise would.

best etf brokers

Best ETF Brokers

You cannot go wrong with being slow and steady, can you? Probably not. But that is not all that attracts investors to an exchange-traded fund.

There is also the exposure afforded to a wide variety of different markets and industries.

We realize, of course, that some readers who stumble upon this article may only just know what ETF stands for.

But don’t worry, there is no shame in that. The critical thing to know about ETFs as a collection of securities is that you do not just invest in the first one you see. Your investment will ride on some critical factors which you need to get right before you make a decision. Factors like the quality of shares in the fund, the value of information that you possess, and not least the broker whose services you are depending on to make it all work.

You cannot directly invest in an ETF. Only your broker can do that. And the broker factor is what we will be focusing on most in this piece because it is so important to get right. Signing up with bad broker could at best give you marginal returns even if the ETF itself performs decently, and that would be a huge disappointment.

And so, we have prepared a list of things you should pay careful attention to before selecting your broker. So let us jump right in.

How To Choose The Best ETF Broker

Choosing the best ETF Broker is not easy. You have to take a few aspects into consideration. Here are some important things to look at:

1. Go through their selection of products

It is a given that your broker ought to be able to handle investments in ETFs in the first place.

But knowing that alone is not enough. Your broker should also have plenty of available investment alternatives. You know your broker is a good one if you can tick off ETFs, options, municipal bonds, CDs and precious metals on its investment portfolio.

Of course, if your broker happens to be significantly more limited than that, you could open an account with other firms that offer the options that are lacking. However, it is always preferable to have just one broker handling your investments.

2. Read the fine print on the pricing

Pricing may not be everything but it certainly counts for a heck of a lot anyway. As a trader you need to be fully aware – not just in the moment but also in the grand scheme of things – how much it costs to execute trades. The fine print is what informs you of the costs associated with broker commissions.

However, it is not the only source. You can also read up on third-party reviews.

3. Understand how they behave at peak trading hours

Every investment contains some element of risk and the level of risk is a major determining factor in the level of volatility in a market.

So naturally, most investors will look to shift the markets at around the same time, and make purchases when prices are low and sell their equities when prices soar. However, whenever the volume of a market is at its peak level, it causes brokers to slow down their trade executions unless they are reliant on some advanced trading technology.

For traders, it is a good idea to visit a specific broker’s website at different hours of the day see how consistently operations are run, especially during peak hours.

4. Accessibility

With a broker, ease of access is another key factor to consider. Many brokers now offer multiple ways to access their platform. Aside from your desktop at home, you can also log in on your mobile device.

However, it would be ideal for you to have alternative means of access at your disposal such as over the phone broker deals, email orders, and touch-tone telephone trades etc.

Conclusion

Apart from the factors described above, be sure to also look for the fundamental criteria that any broker should fulfil such as user-friendliness, good customer service, and plenty of informative articles, charts, analysis, and tutorials.

All this adds up to make your work as a trader much easier and more efficient.

cryptocurrency wallets

Cryptocurrency Wallets

In the simplest form, a crypto-wallet is a place to store and trade cryptocurrency. It also works as the ledger that stores public and private keys and allows users to trade crypto-coins.

The authorized access is the most important aspect of the process to keep the trading process safe.

Some wallets allow users to use multiple cryptocurrencies in a single wallet. Software wallets are most commonly used as crypto-wallets.

A dedicated application is installed locally on the computer or the private keys are stored by a third party source in a web-wallet.

On the other hand, hardware wallets create payments through the API of the wallet and the public keys are sent to the network after being signed by wallet’s hardware.

The wallets which are connected to the internet are known as hot wallets whereas the cold wallets are not connected.

The Future of Cryptocurrency

As the crypto-coins are not actually inside the wallets, losing the access to the wallet doesn’t necessarily mean the loss of money but losing the keys can prove to be detrimental. In future, cryptocurrency is expected to be used while listening to music, watching videos or traveling from one place to another. The applications will have their own mechanisms for payments which will replace the bank accounts and middlemen.

This will help greatly in managing investments and also in doing the analysis of investments. People will feel to be in full control of their accounts in the absence of a centralized authority. Getting the services from networks will be different as people will contact developers if they need a secure place to store personal data. Marketing strategies will also be transformed with the change in consumer experience.

Wallets to look for

Only those wallets are expected to exist in the future which will adapt quickly to the changing needs of consumers. Mobile application wallets are expected to take over the transactions completely in the future. Following are some mobile application wallets:

  1. Coinbase:coinbase

Coinbase is estimated to have around 13 million customers in more than 30 countries. The most outstanding feature of this wallet is the option of recurring investments that can make the funds increase rapidly. It supports transactions across Bitcoin, Litecoin as well as Etherium.

The wallet is available in more than 190 countries. If you want to trade more cryptocurrencies then we recomment Binance with this referral code.

  1. Electrum:

At the moment, electrum is only available on Android and desktop platforms but it is expected to expand on other platforms too. It also allows users to use third-party plugins of hardware wallets like Trezor etc.

This is an open-source wallet but ensures the security by using only the verified servers which offer better optimization.

  1. Blockchain.info:

It is estimated to have more than 14 million customers worldwide. The simplicity and security are the core features of this product.

  1. Mycelium:

Mycelium is considered as one of the most reliable choices available when it comes to ratings given by the users. It also supports third-party plugins and is expected to give an optional link to connect debit cards in the near future.

  1. Coinomi:

Coinomi is a multilingual wallet that supports all the currently available cryptocurrencies and exchanges can be made using ShapeShift. The security and secrecy are the significant features of this wallet. It is designed to discourage IP tracking to make the whole process of transaction extra anonymous.

  1. Lykke:

Lykke is a rapidly growing multi-asset wallet that allows users to buy, sell or trade: FX currencies, bitcoins, ethers, or tokens. Users can manage their existing wallets with better security options. It is an open source wallet available on iOS as well as Android platform. Under the effective leadership of Dr. Demetrios Zamboglou, Lykke won the FinTech of the Year Award in Digital Championship Cyprus 2016-2017.

Zamboglou is credited for his unconventional and relentless approach for making Lykke a competitor for the giants of the market within no time. He is hopeful of making all the transactions made through Lykke available in blockchain to make it transparent and accountable.

  1. Mobi:

Mobi is essentially a Bitcoin wallet and now supporting an excess of 100 currencies across the globe with the use of Visa debit card. International transactions have become a lot easier with the use of Bitcoins. The instant crypto-conversions have revolutionized the whole idea of cross-border transactions.

Also read:

etfs

Advantages of Trading Cryptocurrency

Cryptocurrencies have emerged as a means of a digital substitute as compared to conventional modes of exchange, such as cash or credit credits and have liberated a distinct point.

In the beginning, it seems to be unfamiliar and somehow different as the credit card appears to the users in the earlier times. It appears to be a good source for the kidnappers, fraudsters and offenders who most of the times are indulged in ransomware dodges.

Though, with the increase in the Bitcoin value, the cryptocurrency has become as a feasible mechanism. The positive buildup encompasses the blockchain innovation that backs it up and may have a positive effect on the wallets and trading practices of standard financial specialists around the world.

In this article, you will have an insight on cryptocurrency and why it is considered as a workable option to more established forms of trade.

  1. Transactions

In conventional business transactions, agents, legal representatives and brokers may add substantial inconvenience and cost to have a clear transaction.  There is paperwork, commissions, brokerage fees and some quantity of other particular conditions which might apply.

One of the upsides of Cryptocurrency transactions is they are balanced undertakings and occurs on shared systems networking framework. This results into a great amount of clarity in setting up assessment trails, less misunderstanding over who should pay to whom and better accountability. In that, two parties are included in a transaction and each knows their identity.

  1. Transfer of Assets

The Blockchain cryptocurrency seems like great property rights database, which is used to implement and authorize two-party contracts on goods, such as automobiles or land. But, the blockchain cryptocurrency biological system may likewise be used to encourage expert methods of transfer.

For instance, Cryptocurrency contracts can be intended to include third-party consents, create a reference to outer evidence or be finished at a predefined time or date later on. As you are a Cryptocurrency holder and have restricted authority of your account, this reduces the cost and time included in making transfer of assets.

  1. Transaction Fees

Transaction fees can make some substantial bit from your assets, particularly in the case when you are performing out a considerable measure of transactions in a month.

Transaction fees don’t apply because the data miners, which do calculations that creates Bitcoin and other cryptocurrencies get their pay from cryptocurrency network.

Some of the external expenses are included if you receive the services of third-party administration for maintaining your cryptocurrency wallet. However, another upside of cryptocurrency is that they are still liable to be significantly less than the transaction charges incurred by customary financial frameworks.

  1. Great Accessibility to Credit

Internet and digital transfer of data are the media encouraging the trade in cryptocurrencies. So, these administrations are accessible to any individual who has certain knowledge of cryptocurrency network, a feasible data connection and prepared access to their significant portals and websites.

It has been assessed that there are currently billions of people all over the world who have access to mobile phones or Internet but do not have access to conventional frameworks of trade or banking. The cryptocurrency biological system holds the possibility to make transaction and transfer of asset procedure accessible to this huge market of willing shoppers when the required framework is set up.

  1. Easier International Trade

As an unrecognized legal tender on a national level, cryptocurrencies are not subjected to trade rates, transaction charges, interest rates or other charges imposed by a particular nation. By making use of a shared instrument of blockchain technology, cross-border transactions and transfers might be conducted without confusions over currency trade fluctuations and so forth.

  1. Individual Ownership

In the conventional banking system, you adequately turn stewardship of your assets over to an outsider that can practice the influence over your assets. Accounts might be closed down without any notice for intrusions because the account holder passes through many difficulties in the system.

Possibly, the best of all advantages of cryptocurrency is that till you have assigned administration of your wallet over to an outsider administration, you are the sole proprietor of the corresponding public and private encryption keys that make up your cryptocurrency identity or address.

  1. Strong Security

When a cryptocurrency transfer gets approved, it can be turned around as on account of the ‘charge-back’ transactions permitted by credit card organizations. This is a fence against misinterpretation that requires a particular agreement to be made between a purchaser and seller with respect to discounts in case of a mistake or returns policy.

Strong encryption frameworks used all through the blockchain and cryptocurrency transaction procedures are a protection against fraud and account altering and assures consumer privacy.

Without a doubt, cryptocurrency is a concept which seems to further increase in the years to come.

About Author:

Robert Bint is senior editor at Bitex.Global; which is pioneer in cryptocurrencytrading & exchan ge. He enjoys creating, uncovering a nd disseminating new and interestingperspectives in the cryptocurrency trading industry.

Cryptocurrency Trading

If you have taken at least a momentary glance into online trading operations, you will likely have heard something about cryptocurrencies and their associated terms.

One of the main reasons that drive the popularity and in some cases, the infamy of cryptocurrencies, is their capacity to bring in a huge profit or a catastrophic loss to traders.

This is no free for all party, you do need the right skills and a little bit of luck if you are going to – well, get lucky.

Unfortunately, understanding the nature of cryptocurrencies and how they operate is far from the simplest thing in the world. But give yourself enough time you will get the hang of it, and eventually the confidence, to start trading.

How to Trade and Invest Cryptocurrencies

The first thing to know about cryptocurrencies is that they carry a lot more value compared to their fiat counterparts. For example, the price of a single Bitcoin currently hovers well over $8000, and that value keeps changing unpredictably.

It is important to make a clear distinction between investing in cryptocurrencies and trading them. Investing simply refers to the purchase of a particular cryptocurrency, holding onto it, and then selling it when the price goes up.

Trading cryptocurrencies, on the other hand, is a lot similar to your typical forex trade. It involves trading one cryptocurrency in exchange for another or fiat currency via a cryptocurrency exchange. It is common for traders to swap cryptocurrencies in order to maintain the highest market value.

Is It Real Money?

Being a fairly recent arrival to online trading, cryptocurrencies are not quite a widely accepted means for trade although their industry is already so profitable. The forerunners like Bitcoin are introducing the concept to more and more people which may eventually normalize day-to-day trading with virtual funds. Bitcoin is by far the most prominent cryptocurrency in existence but since its launch back in 2009, it has seen the rise of hundreds of competitors desperate to knock it off the top spot.

The rest of these cryptocurrencies are known collectively as altcoins and a few of them like Ethereum represent a very real threat to Bitcoin’s position on the charts, especially given that they offer some unique features that are not available to Bitcoin users.

Government Regulation

Cryptocurrency networks like Bitcoin are essentially decentralized meaning they do not answer to a central authority like a bank or government.

Predictably, this does not sit well with the administrations of some nations. In a country where mining Bitcoin is illegal, miners tend to continue their work underground and mine other cryptocurrencies if they prove to be safer and more profitable.

There is also a lot riding on the decisions made by the NFA or SEC. The value of some cryptocurrencies could change dramatically based on such decisions. As a general rule, you would be better off trading a cryptocurrency that is not likely to be blacklisted by your local government. To do that, you would have to keep in touch with the political atmosphere of the government.

Is Trading Cryptocurrencies Worth Your While?

Maybe. Maybe not. It really is your own determination that will help you make it as a trader. It certainly carries the prospect of a very good payday but is also accompanied by risks that are just not justifiable to some traders. Some even say that cryptocurrencies will be all but irrelevant in the new future but for now, no one can really know for sure.

Whatever you think about trading cryptocurrencies, never lose sight of the golden rule, ‘Do not invest more than you can afford to lose.

That way, if things do go terribly wrong, you will have sustained a loss but more importantly, you would still remain afloat financially and be ready to play a second hand. As unpredictable as these cryptocurrencies are, there is certainly a lot to learn that could help your chances. And no one is a veteran here. It has not even been 10 years since the first ever cryptocurrency network, Bitcoin, arrived on the scene.

Conclusion

Trading and investing in cryptocurrencies is a growing trend in online markets today. While they do represent certain considerable risks, they have also proven to churn out worthy profits for those traders that have gambled on them.

how to start forex trading

How To Trade Forex For Beginners

Trading forex, also known as foreign exchange can be an exciting hobby which can earn you an extra coin.We will teach you how to start forex trading even if you are a beginner.

No, many people actually rely on forex as the main source of income. To prove this is the rise in the amount of money that is traded on forex market trades on each day.

One can trade on foreign currencies in many ways through the available platforms online. Check out our top rated forex brokers.

Here are 7 simple steps on how to trade forex for beginners:

1) Examine the Trading Position

First, you need to take a look at the trading position of the country you are willing to trade the currency.

For instance, if the country produces many products that are constantly in demand, then there are high chances that the exported goods will help the country make good money.

A boost to a country’s trade in most cases translates into a boost in the value of the country’s currency.

2) Find out on the Country’s Economic Reports

Secondly, do a research on the economic reports of the country in question.

You can find comprehensive information by looking at the country’s GDP reports as well as reports on other important factors like inflation and employment status.

All these are likely to influence the value of the currency of the said country.

3) What Are The Possible Economic Trends?

Predict the economic trends of the country. For instance, should you feel that England’s economy will weaken, then you ought to know that this will cause a negative impact on the EUR, then it will be prudent to sell the EURs in exchange for a currency whose the economy is much stronger and may be more stable.

4) Study the Political Weather

Look at the country’s political climate. Should the country be in an election year, then there are two possibilities.

If the win goes to a leader who has great fiscal agenda then the value of the currency is likely to go up.

In many cases, the new governments will want to make the trading environment friendlier during such times, if this happens more people will venture into the trade markets something that is likely to boost the value of the currency in question.

5) You Will Be Calculating Profits, Learn How To

Learn how to calculate the possible profits. To avoid unnecessary losses as a beginner, then consider opening a demo trading account where you can do calculations using virtual funds.

Profits are calculated by determining the number of pips between a currency pair. A pip is a difference in value between two currencies that are in a currency pair.

In many cases, a pip is equivalent to 0.0001. This means that if a currency pair of EUR/USD moves from 1.354 to 1.356 then your pair has moved by 10 pips.

In order to know how much you have earned, you will need to multiply the number of pips earned from your account times the exchange rate. The result of this calculation is the indication of how much value has been gained or lost by your account.

6) Choose a Trusted Dealer

You also need to be careful as you select your preferred broker or dealer. The company has to be led by professionals who knowwhat they are doing.

We pride ourselves as a regulated dealer with a wide array of products at your disposal. We will also offer demo trading account which will help you in gaining some experience before you trade in real money.

7) Do a Research on the Available Account Types

Get information on the available accounts. Note that you can choose to register for a personal account where your trades are yours to make or a managed account where the dealer will offer insights and make the trade on your behalf.

While still on the account opening details, be sure to inquire about the associated costs such as the cost of transferring funds from a bank account to your forex account.

As proof of the account opened, you can ask for documentation. This can always be sent to you by email.

The next step is to activate your account. This is the final step to you accessing your account. The access link will be sent to you by the broker by email.

Follow the link and all the instructions and you are good to start trading.

Always remain calm, remember to always analyze the market before casting the dice.

Binomo Review

Binomo is a major player on the financial market that provides a progressive and client-oriented set of services for trading on futures contracts.

The company was founded in 2014, and has actively developed into a major trading platform in just a few years, taking a leading position among other well-known companies on the futures market.

Today, the Binomo brand is recognized around the world. The Binomo company is registered in Cyprus, where its management office is located.

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The company has an FMRRC licence, which confirms that Binomo is a reliable broker that operates legally.

Every year Binomo is checked by this trustworthy financial regulator to ensure their quality of services and transparency of activities are in compliance with the certificate standards.

It is also worth noting that an FMRRC license provides the company’s clients with insurance of their funds in the regulator’s compensation fund.

Binomo Trading Accounts

You can sign up with Binomo in just a few minutes through a special form which can be opened on the main page of the company’s website in the upper right-hand corner.

When you open the form, you will need to enter some standard information, your email address and a password, and you’ll select your account currency and accept the terms of the client agreement.

After that, you will automatically be granted access to your personal account and to all the services of the company. In your personal account you can fill in information for your profile, your name, gender, and date of birth, and you’ll also confirm your email via a link sent to that address.

However, you don’t have to enter all your personal information right away. You can use the company’s services and the demo account as much as you want without any obligation to the company. Incidentally, the demo account automatically opens when you sign up.

In terms of choosing a trading account, Binomo offers several account options, depending on the amount you credit to the account: Demo, Standard, Gold, and VIP. Each type of account opens up different opportunities for the trader:

  • Demo – this is the training account that automatically opens when you sign up on the company’s site as a new user. It allows you to take advantage of absolutely all the services of the company, including participation in tournaments. This type of account allows you to conclude real trading transactions on the broker’s platform using virtual funds, which, in fact, never run out. The company only credits 1,000 EUR/USD, depending on the account currency, however after you use up this amount it can be reset, and you can do that an infinite number of times.
  • Standard – this is the basic type of trading account assigned upon crediting an amount of at least $10. This type of account allows you to conclude trades starting at $1, use the basic set of services, which is 20 trading assets (popular currency pairs and cryptocurrency), get maximum yields of 85% on trades, receive standard general technical support, and have unlimited withdrawals of funds within 3 business days.
  • GOLD – this type of trading account opens when you credit at least $500 to an account or it is assigned after your trading balance exceeds this figure. This type of account expands the arsenal of trading assets, trading profitability rises to 86%, and the time frame for withdrawals of profits is reduced to 24 hours. The gold account also offers a weekly cash back loss compensation service of up to 3%, contract insurance, and the amount of bonuses credited to the account is increased.
  • VIP – this is the highest level of account status on the Bimono site, and it is assigned to traders who credit at least $1,000 to an account. The VIP account opens up more opportunities for the trader in the form of a fixed yield of 87%, the full set of trading assets, transaction insurance, and 10% weekly cashback. Clients with a VIP account also get analytical Skype support, a personal manager, and profit withdrawals within 4 hours. This type of account is also assigned to anyone whose balance exceeds $1,000.

Deposit/Withdrawal of funds

For financial transactions involving account crediting and profit monetization, the company offers the most popular payment systems:

  • credit cards: MasterCard/Visa
  • electronic payment systems: Yandex.Money, Neteller, Qiwi, Alfa.wallet, WebMoney
  • cryptocurrency wallets: Bitcoin, Ethereum, Litecoin and Zach
  • mobile banking

All the client’s financial transactions are conducted in a secure area of the site. Money is credited to the trading account instantly and the withdrawal time depends on the type of the trading account. The minimum withdrawal amount is $10 and there is no additional commission.

It is also worth noting a mandatory condition for the withdrawal of profits – you must use the same payment method that was used to credit the account. Since the company doesn’t verify this, it is the only way to protect the client’s funds against unauthorized withdrawal by a third party.

Tournaments & Promotions

Regular promotions on the company’s site make it possible to get an additional bonuses or a certain number of free trades, to insure a few trading positions, or to get temporary access to VIP platform services and many other beneficial promotional offers.

Tournaments are also held regularly on the Bimono site. Even traders with only a demo account, i.e. those who have not yet made a deposit, can also take part in them.

In fact, the company holds all the tournaments on a separate tournament account which uses virtual funds for participation.

The prizes in these tournaments are real money, which means that any beginner can start earning on the company’s trading platform without even transferring any starting capital simply by earning their first deposit in a free competition.

However, there are also paid competitions which have entry fees for participation, and they differ only in the size of their prize funds.

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binance review

Binance Review

Binance is a fairly recent yet highly popular Chinese cryptocurrency exchange. Its main attractions include a significant amount of Initial Coin Offering listings as well as extremely low trading fees.

Binance.com Review – The Platform

Upon visiting the Binance exchange platform, you will immediately come across the two options offered to traders of cryptocurrencies – basic and advanced. This, however, is not to be confused as a matter of usability. Both versions are only recommended for traders with working knowledge of cryptocurrencies and how to trade them.

The best way to draw a distinction between the basic and advanced version of the Binance platform is by evaluating the level of technical analysis provided by each of them in the long run. Simply put, the advanced version goes more in-depth into analyzing the value of cryptocurrencies than the base version.

binance screenshot

If it all happens to suit you just fine and you get yourself registered with this exchange, the next logical step is to begin funding your account. For this, there is a multitude of different cryptocurrencies to choose from, but the most recommended happen to be BTC and ETH. Afterward, you can get into exchanging, investing, and trading numerous cryptocurrency pairs. The platform also allows you to generate and limit and market orders.

Unless you are entirely new to the world of cryptocurrencies, you will find trading them on Binance to be a fairly straightforward matter.

Binance Fees & Limitations

The fee rates charged by Binance are quite low and that only contributes to its appeal in the market. On average, the exchange gets 0.1% of a given trade. Meanwhile, if you trade using the Binance token, you will be paying at the discounted rate of 50%.

When it comes to withdrawals, the fees are variable, depending on which cryptocurrency is involved. Bitcoin, for example, comes with a 0.0005 fee rate while for Ethereum, the rate is 0.005.

On the subject of transfers, there are no limits regarding how many coins may be deposited. On the other hand, there is a limit on withdrawal amounts if there is no prior verification. Verifying your identity with Binance requires your full name, gender, country, and a photograph from either your passport or ID card.

We’ve checked several binance reviews online and most of them were also positive.

Security

In spite of its recent arrival, Binance has already gained huge popularity and trust among cryptocurrency traders, so you would expect that security measures are up-to-date and highly efficient. But as it turns out, not as much as we expected. For instance, access to information regarding secure funding is rather limited. But there is a two-factor authentication system and the platform does offer a multi-tier system architecture.

Customer Support

But while pretty much any cryptocurrency exchange has the capacity to be a well-oiled machine harboring an attractive array of trading tools and opportunities, it still has to present itself well to actual people. And that is where customer support is so important. With Binance, customer support is fairly responsive and helpful to traders.

However, it does lack a few important features that are standard for most other cryptocurrency exchanges. There is no telephone number to call or a live chat option on the website. What you can do is submit a support ticket through an online form on the platform to which a response will be communicated via email.

Conclusion

Binance is one of the fastest exchanges currently operating, capable of processing nearly one and a half million orders every second. What’s more, it is compatible with several different devices including Android, HTML5, web, and WeChat.

Binance is also accessible in different languages including Chinese, Japanese, Korean, and of course, English.

In summing up Binance, you will likely have mixed feelings about it. While it may not be the most user-friendly platform in the world, it certainly has one of the lowest fee rates and a highly competent customer support team. It also provides traders with a wealth of opportunities and trading tools.

But of course, you can never be too careful when dealing in cryptocurrencies, no matter how good a deal your exchange will be presenting. Always remember the basic steps such as using a unique password, activating 2-factor authentication, and not storing a large number of virtual funds on the exchange for very long.