Author: Larry Newman

how etf trading works

How ETF Trading Works

Larry Newman Leave a comment
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

Larry Newman Leave a comment
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

Larry Newman Leave a comment
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
passive order

Differences Between Etfs And Mutual Funds

Larry Newman Leave a comment
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.

bitcoin wallet

Cryptocurrency Wallets

Larry Newman Leave a comment
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:

passive order

Advantages of Trading Cryptocurrency

Larry Newman Leave a comment
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

Last Update: Larry Newman Leave a comment
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

Larry Newman Leave a comment
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

Last Update: Larry Newman 2 Comments

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.

OPEN FREE ACCOUNT

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.

OPEN FREE ACCOUNT

binance review

Binance Review

Larry Newman 1 Comment
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.

How To Buy Neo

Last Update: Larry Newman Leave a comment

NEO is one of the most promising cryptocurrencies of this year.

What draws traders toward NEO appears to be its keenness to improve on the operations first started on the Ethereum platform.

You might say that NEO is to Ethereum what Litecoin is to Bitcoin. But before we arrive at that conclusion, let us find out a little more about NEO.

Big news February 26th: eToro has just added NEO to their trading platform. The price of NEO is already up 15% for today: Read the eToro Review

What is NEO?

The first thing to know about NEO is that it is a Chinese-based currency and was actually founded under a different name. Its blockchain entered Github in 2015, becoming China’s first ever public open source blockchain. It would arrive in the west the next year as Antshares.

As of today, NEO is still seen as China’s response to Ethereum. Both are users of smart contracts. However, NEO utilizes its innovative blockchain as a step from what the Ethereum network can offer right now. NEO is marketed as a sort of disseminated network for a smart economy. That involves digital assets, digital identification, and of course, smart contracts.

The NEO network rests on two tokens – NEO and neoGAS. The tokens have all been pre-mined and have a hard cap of 100 million. Their uses are for creating blocks, managing the network, and meeting consensus requirements. Meanwhile, the GAS token serves as fuel and a kind of security for the blockchain.

How to invest in NEO

As it turns out, purchasing NEO is not the most straightforward thing in the world. You would have to buy Bitcoin first before trading it for NEO. The issue with this method is that it takes up a considerable amount of time and also carries some risks, some of which are less apparent than others.

In order to trade successfully with NEO, you are going to have to step-up your security beforehand. Precautions, like enabling two-factor authentication, use of a power manager, and updating yourself with the most recent threats to cybersecurity are all very useful and necessary.

It will not be just hackers that you will be up against, but also corrupt or incompetent owners that may cause your investment to backfire. If you desire an example, look no further than the hacking incident involving the MtGox users in 2013, where a reported $500 million in Bitcoin was stolen during the attack.

Unfortunately, we are yet to see an end to these kinds of attacks even at present. Earlier this year, Bitfinex sustained a similar attack and lost a reported $72 million right out of user wallets. So naturally, anyone interested in purchasing NEO would prefer a safer method. Fortunately, there is! Thank goodness for brokers.

If you want to alleviate the risks involved with relying on an exchange, you could consider CFD trading with a licensed and regulated broker. Now, it is just a matter of choosing the right broker to trade with. The first step involves verifying whether your broker is regulated, and adheres to a rigid code of conduct that makes it a lot safer to trade with than with an unregulated broker.

Now that we are exploring regulated brokers, the decision-making starts to close in on the finer details of trading and that requires some pretty comprehensive reviewing. However, we have done just that, so that you don’t have to, and according to our research, the best broker you can trade with right now in order to acquire NEO is eToro and Neo CFD trading on Plus500.

Plus500 Disclaimer: 84% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Plus500CY Ltd is authorized & regulated by CySEC (#250/14).

Why Plus500? For starters, it submits to a great deal of regulation on an international level. That means that even in the unlikely event you encounter any problems with your broker, you could take them up with a regulator and resolve it.

Plus500’s fee structure is very competitive. Commissions are an absolute zero. For NEO CFDs, that is usually around 1.80% but may be subject to change. As a rate, however, it is very competitive.

Plus500 harbors among the most thorough toolkits for risk management you could find anywhere. There are also additional tools that are not available with other brokers.  The most useful of all is the trailing stop, which enables your stop position to rise with the market at your consent. As a result, you stand to increase your profit without the need to adjust your stop position manually. Even if the market heads downhill, you will remain safe. That is good news for your NEO and CFD trades.

Another reason why you should consider Plus500 is that it is one of those brokers that goes the extra mile to make its platform accessible to traders all over the world. The platform itself is user-friendly and is accessible in up to 31 languages. It has also been localized in up to 50 countries.

What’s more, the mobile app is exceedingly good as well, operating much the same way as it would on your desktop. This is allowing you to execute trades while on the move. While there may be other brokers to try out for those traders with specific trading needs, Plus500 takes the majority vote as the ideal broker for dealing in NEO CFD trades.

Conclusion

Cryptocurrencies have remained an intense subject ever since bitcoin, the first of its kind, arrived in the online trading scene back in 2009. Now, less than a decade later, there are hundreds of other cryptocurrencies that seek to rival it for the top spot. Many of the top players tend to emphasize on the unique features they contain that are not shared by bitcoin or any other cryptocurrency.

In the end, it is always important to know that NEO, like any cryptocurrency, is a highly volatile commodity. Even if you have chosen to buy it as a CFD, using a regulated broker, your capital is always at risk. If the market heads in the opposite direction of your interests, you could end up losing some or the entirety of your initial capital.

Trading NEO is ultimately like trading any other commodity, and as such, you should always take care never to trade more than you could afford to lose.

bitcoin simply explained

Pump And Dump Crypto

Last Update: Larry Newman Leave a comment
Pump And Dump is a method of artificially increasing the price of a cryptocurrency coin or stock. Traders then try to sell the coin/stock for a big profit.

We will focus on crypto pump and dumps in this article.

With the growing popularity of cryptocurrencies, more and more pump and dump groups appear on apps like discord and telegram.

CFTC and SEC Are Warning Against Crypto Pump-and-Dumps. Stay away from these groups.

How Does Pump And Dump Work?

Usually thousands of traders gather in a group and pump different coins at once. Usually the owners decide which coin will be dumped next. They usually buy it before announcing it to their group to make maximum profits.

However there are more fair groups where the owner finds out about the coin the same time as the others.

Who Starts These PnD Groups?

Traders who try to profit even more from cryptocurrencies and how don’t care about the losses of others.

How Can I Spot A Pump And Dump?

It’s fairly easy. Look at this screenshot – do you see that huge spike? Normal growth doesn’t look like this.

This was a pump and dump organized by the biggest PnD discord group.

Pumps like these only take a few minutes.

Is Pump And Dump Legal?

Pump and Dump is illegal with stock trading, however cryptocurrency trading is still unregulated, which means that it’s not illegal there. That’s why so many people do it.

Is It Profitable?

Yes, pump and dumps can be very profitable. You can make a lot of money this way.

Who Loses With This?

I don’t have any official numbers on how many percent of a pump and dump group makes money and how many lose money. My guess is that 80% make money with this, while 20% lose money.

Also traders, who are not aware that a coin is being pumped and dumped and want to buy the coin at the same moment, may lose a lot of money. Maybe they see it go up like crazy and start to feel like they are missing out (FOMO).

Or there are traders that are part of the pump and dump group, but they get greedy and try to make multiple trades or they set your sell orders (profit) too high.

Is It Safe To Do Pump And Dumps?

As said it’s not illegal to do it. However there may be some changes in the future.

Pump And Dump Advantages

This differs from group to group. Usually the pumps are being organized on discord (mainly used by gamers) where there are ranks based on how many people you have invited. People who invite their friends to these groups will usually have a bigger time advantage. There are ranks within a group and the higher your rank is, the faster you find out the name of the coin.

It’s up to you if you want to take part of such pumps. It’s really interesting to see how fast the coins are being bought when these pumps happen. Usually people will tell you to stay away from these finds of groups, but I know many who made a lot of money this way.

Let me know what you think about this, in the comments.

Binance Referral Code

Last Update: Larry Newman 2 Comments
Binance Referral IDBinance is the biggest cryptocurrency exchange at the moment. It even has it’s own coin called BNB (Binance Coin).

Binance is my favorite exchange, because it has most of the currencies I am interested in.

Why We Like Binance

  • has the most users
  • can process 1,4 million orders per second
  • has a unique coin called BNB
  • has multi-language support
  • low fees if you use a referral ID

Use The Binance Referral ID Code: 11285553

When signing up with Binance, you can use a Binance Referral ID.

Binance Referral ID: 11285553. Sign Up with Binance.com

Why use this referral ID?

Traders, who use this referral ID will get a fee discount of 50% and a referral bonus of 40%.

Step-by-step Guide on How to Sign Up with Binance

Binance referral code

  • Step 3: Enter your email, password and enter the number 11285553 as Referral ID  (if it’s not auto-completed already)
  • Step 4: Click REGISTER and you’re done.

What is Binance Futures Referral Code?

Binance Futures referral code is a unique code that allows new users to receive benefits such as discounts, bonuses, and rewards when they sign up for Binance Futures through a referral link.

The best Binance Futures Referral Code is: 11285553.

How The Binance Referral Offer Works?

Binance Referral Offer is a program that rewards users for referring new users to the Binance cryptocurrency exchange platform. Here’s how it works:

  • You refer someone to Binance using your referral link or code.
  • They sign up and start trading.
  • You receive a commission on their trading fees.

The commission rate varies depending on your referral level and can go up to 40% of the trading fees paid by your referrals. To participate in the program, you need to have a Binance account and activate your referral link.

Here are some key features of the Binance Referral Offer:

  • There is no limit to how many people you can refer. (Unlimited referrals!)
  • Binance periodically offers special promotions where you can earn even higher commissions for a limited time. (Keep an eye out for these!)
  • The referral commission is paid in the same cryptocurrency that was traded. (For example, if your referral trades in Bitcoin, you will receive a commission in Bitcoin.)
  • The referral program is subject to certain terms and conditions, so it’s essential to read and understand them before participating.

Is Binance A Good Exchange?

The growth of Binance is crazy. The fact that they have to stop new registrations is even crazier. I’ve read somewhere that at one point they had up to 250.000 users sign up every hour. This is why their coin BNB tops new highs so often.

If you believe that Binance will continue like this, then it may be a good idea to get some of their coins.

Binance is an awesome cryptocurrency exchange. Here are the reasons why I love them:

  • Binance is safe and trustworthy.
  • They offer two factor authentication via Google Authenticator that you can download on your smartphone (recommended) or to your PC (Chrome).
  • There has been no scam reports or any scandals involving this exchange over the years
  • Binance is the preferred cryprocurrency exchange of most traders

We really recommend activating the two factor authentication to avoid getting your account hacked.

Binance continues to be the top choice of many traders including me, and I really think Binance will remain the #1 for a while. I really think Binance is even better than CoinBase and KuCoin.

Binance Trading Fee

The trading fee on Binance is 0.1%, however if you own Binance Coins, you can pay your fees with them. Binance offers a discount for traders using the BNB coin, so you will receive a 25% discount (compared to 0.1% with no Binance coins).

Here is how to do it: After registering, go to your account (top right corner > Click on the little Person icon)

bnb fees

Let me know in the comments, what you think about Binance.

Binance Referral Program

In October 2017, Binance launched the Binance Referral Program and it’s a great success. Traders can invite their friends to Binance and get a cut of their trading fees. This happens in real time.

Binance used to offer 50% referral bonus, but in January 2018 they changed it to 20%. Even with 20% it’s still a good deal.

Where To Find The Binance Referral Code

First of all you need a Binance account. Signing up is very easy. It takes less than a minute.

When signing up you may get this message:

Fellow Binancians,
Due to the overwhelming surge in popularity, Binance will have to temporarily disable new user registrations to allow for an infrastructure upgrade. We apologize for any inconvenience caused.
Thank you for your support!

If you see this, then try again later. Binance sometimes disables the registration form for a few hours, but it should be back later.

After you have signed up, log in to your account.

When you log in to Binance you should see a banner on top of the page that says: “Binance Referral Program. It pays to have friends”.

If you can’t find the banner then simply click this page: https://www.binance.com/invite.html.

binance referral id

As you see on the screenshot above on this page you will have your Binance Referral Code, the number of referred friends and the amount you have earned so far.

bitcoin simply explained

Best Cryptocurrency Exchanges

Last Update: Larry Newman Leave a comment
A cryptocurrency exchange refers to a website that allows you to trade, that is to purchase, sell, or exchange cryptocurrencies either for different cryptocurrencies or prominent fiat currencies like the American dollar or Euro.

Those traders who are particularly keen on trading professionally and have advanced trading tools at their disposal had best subscribe to reputed exchanges that requires national ID verification to open an account.

There are basically two types of exchanges: ones that require ID verification and the ones that don’t. The reason for this is that whenever there is fiat money (USD, EUR) involved, they have to check your identity. In order to get started with crypto trading, you will have to first deposit fiat money.

You can do this on exchanges like Coinbase and Kraken. While these exchanges aren’t the best for trading altcoins, you may want to move the newly purchased coins to another exchange that offers the altcoins you want to buy.

There is no exchange that offers both: fiat money deposit and withdrawals and high number of tradable altcoins (other coins than Bitcoin). This means that you will have to use at least two exchanges.

Let us now look into a few different types of exchanges that would be more suited to the specific needs of traders.

Types of Exchanges

  • Trading Platforms/Exchanges: Websites that match buyers with sellers and retain a commission from every transaction.
  • Brokers: These refer to online websites that you can visit to purchase cryptocurrencies at a price that is set by the broker.
  • Direct Trading: These are platforms that facilitate direct trades between persons. That includes traders trading from different countries. There is no fixed market price here, only the exchange rates set by the seller.

What To Look For Before Signing Up With A Crypto Exchange?

Research is always helpful. You never know when you might uncover something that could alter your entire perspective on the subject or change your mind just a little. It all adds up to a better end result. Here are some crucial factors of a cryptocurrency exchange that you should explore thoroughly before you join them.

  • Reputation: Exchanges are constantly reviewed by their users as well as the experts. Head over to Q&A forums like BitcoinTalk or Reddit to clarify answer any questions you might have.
  • Requirements for verification: Most Bitcoin trading platforms in both the UK and the US require some kind of ID before allowing for any deposits or withdrawals. However, there are some that allow users to remain anonymous. Verification can take as long as a few days which can be irritating. However, it does come with protection against various scams and money laundering.
  • Methods of payment: This is particularly important. You need to know that the exchange you are signing up with accepts your preferred methods of payment. It could be via credit/debit card, bank wire transfer or PayPal. If the number of payment of options at your exchange is strictly limited, you may want to consider using another. Also bear in mind that buying cryptocurrencies with your credit card always comes with an ID verification as well as a premium price due to the risk of fraud, higher transaction, and fees for processing. Using a bank wire transfer to purchase cryptocurrency will take a relatively long time due to the processing speed of the bank.
  • Fees: Your cryptocurrency exchange should not be shy about containing information regarding fees on its website. It will help you get your eye in on how deposits, withdrawal, and transaction fees will work before you join. The fees are not all the same with each exchange. They can differ substantially.
  • Exchange Rate: Rates differ for different exchanges. If you take the time to really figure out your options, you could save yourself a lot more money. It is not at all an anomaly for rates to fluctuate as much as 10% or higher on certain occasions.
  • Geographical Restrictions: Some of the more specific services from exchanges are only available in certain countries. So make sure that the exchange you sign up with provides your region with full access to the tools and functions of its platform.

Best Cryptocurrency Exchanges

Now that we have covered what cryptocurrency exchanges are and what you should think about before signing up with one, we can focus on what the best cryptocurrency exchanges are.

The list of short reviews detailed below has been compiled from extensive research and also draws from reviews by users that cover fees, security, accessibility, and overall user-friendliness. So without further delay, let us get into the list.

1. Coinbase Review

Being accessible from many currency zones, CoinBase has come up with a simple and stress-free process for purchasing Bitcoin.

It was first launched in 2012 and is represented in more 30 countries. The largest customer bases for Coinbase reside in the United States, United Kingdom, and Brazil.

It is also highly reputed for its level of security and trustworthiness as a platform. It easily qualifies itself here as one of the best cryptocurrency exchanges. This is one of the cryptocurrency exchanges that takes USD.

Pros

  • 2 digital wallets available
  • Easy trading of cryptocurrency with other traders
  • Deposits are ensured, except in the event where an account is hacked with the user password.

Cons

  • Strict security measures mean that your account can be frozen from time to time causing you to wait a while before using it
  • Withdrawals are always tracked, which discourages the use of Bitcoin purchases for gambling and other shady transactions.

Visit Coinbase.com

2. CEX.IO Review

CEX.IO is a trusted cryptocurrency exchange for over 700,000 users worldwide, particularly those who are interested in the Bitcoin trade. CEX.IO is renowned for its simplicity. You can easily deposit funds using your credit or debit card. You can also transfer funds by having your account checked to your CEX.IO account and just like that, you just about ready to begin trading in cryptocurrency. This exchange does make the top 5 list in the minds of many people.

Pros

  • Reputed for being among the best Bitcoin trading platforms for its ability to enable virtually instant trading
  • Users can purchase BTC with good payment methods like Visa, MasterCard, bank wire transfer, and of course, cryptocurrency

Cons

  • Currently operates only for Bitcoin exchange due to the closing of cloud mining activities at the beginning of 2015
  • The platform operates on a ‘Fill or Kill’ or FOK basis which means that what you have agreed to pay initially is indeed what you will end up paying. Changing your mind is not an option.
  • May not necessarily retain the best exchange rates for cryptocurrencies. You will probably find better rates on a site that allows you to make purchases from other traders.

3. Coinmama Review

Many users of cryptocurrencies have declared Coinmama to be the easiest Bitcoin market for opening a new account and getting straight into coin exchange. Its popularity has been rising significantly since its launch back in 2012. At the time, it was one of the very few trading sites for Bitcoin that accepted deposits via a Western Union transfer.

Pros

  • One of the top-rated and reliable sights for purchasing Bitcoin online
  • Exquisite quality of service
  • You can easily open an account after depositing funds with your credit card

Cons

  • With the credit card method being so simple, there are higher user fees being charged – as high as 6.5% – depending on your method of payment.
  • If you rely on alternative payment options, you are better off seeking out another site that chargers lower commissions

4. Localbitcoins.com Review

Are you in search of a reliable BTC trading site that connects you with other traders in your region for making cryptocurrency exchanges? Localbitcoins.com could be exactly what you are looking for. Unfortunately, it is yet to be available worldwide. However, since its launch in 2012, it has managed to extend its services to over 248 nations. Chances are, you live in one of them.

Pros

  • The fees structure is very simple – 1% per transaction paid by the seller. There is also a network fee in addition to the transaction fee. The seller usually includes the transaction fee as part of the asking price.
  • Escrow service guarantees fairness for both buyers and sellers of Bitcoin
  • Signing up requires nothing more than your valid email address. No personal information needs to be submitted. However, other users can require seeing identification prior to trading with you

Cons

  • Not particularly suitable for inordinate purchases of Bitcoin. You may want to try out another site which makes bulk purchases a lot easier and less expensive
  • Platform is not particularly user-friendly for novice traders
  • The probability of being scammed is relatively high so you will need to keep yourself informed of the latest safety precautions as well as methods of approaching other traders

5. Changelly Review

One of the better-known features of this site is its ability to keep track of transactions. Its interface is considered by many to be simple and user-friendly, containing some unique features such as low exchange rates, the exchange of bitcoin into other acceptable cryptocurrencies, and of course, keeping track of the transactions.

Pros

  • Transactions are made quick and easy
  • Trusted exchange for thousands of cryptocurrency traders
  • Very low fee rate. Changelly charges a mere 0.5% for an exchange between cryptocurrencies.

Cons

  • Since not all transactions happen in real time, you could end up purchasing BTC online for and be given a lower amount due to the exchange time.
  • Purchasing cryptocurrency with Changelly using a credit or debit card carries fee rates that can be as high as 40%. Therefore, you may want to consider more inexpensive alternatives.

6. BitPanda Review

BitPanda was initially known as Coinimal. It is a widely recommended site for purchasing and selling the most popular cryptocurrencies, Bitcoin and Ethereum. The options to purchase either of them is available 24 hours a day for all 365 days of the year. Also, there at least 10 methods of payment available including Visa, Mastercard, Amazon, Skrill, Neteller, and Sepa.

Pros

  • Fantastic online customer support
  • Bitcoin wallet is freely available
  • The Bitcoin transaction executed swiftly making this one of the best sites for purchasing BTC

Cons

  • You will be required to submit some form of identification prior to making a purchase which is not ideal for those concerned about their privacy
  • While many other sites will display the fees cost separately, BitPanda includes it as part of the price you pay

7. Coinhouse Review

Traders looking to exchange Bitcoin will appreciate this company for making the payment process a simple one. Simplifying the process involves Coinhouse purchasing Kraken crypto and selling it to its users. This is beneficial because Kraken trading can be rather confounding. Plus, it does not accept credit or debit cards. In order to validate your account with Coinhouse, you must submit government-issued identification and then you can purchase BTC.

Pros

  • Reputed for being a reliable, solid Bitcoin broker
  • Contains great and highly responsive customer service
  • By far, the best method for purchasing bitcoin in Europe with a credit card

Cons

  • Fees are relatively high, so purchasing Bitcoin in bulk can be problematic
  • Your capacity for making purchases is limited on a monthly basis

8. Kraken Review

Kraken is a renowned Bitcoin website which charges lower fees and is the choice of many professional traders all across the world. It boasts some formidable security features as well as healthy connections with banks and the capacity to make transaction quick and easy. It is the preferred choice for millions of Bitcoin buyers. All of these features help place Kraken among the top 10 highest-rated trading platforms in the industry, which is also very encouraging for prospective users.

Pros

  • One of the reliable and reputed options for purchasing Bitcoin anywhere in the world
  • Security for your trades and exchanges is high since you will be signing into the service with a two-factor authentication
  • Has managed to cultivate a good reputation and remain competitive ever since its launch in 2011

Cons

  • The fee structure is rather complex to get around since there is slippage, conversion, deposit and withdrawal fees concerning both Bitcoin and Kraken.

9. Bitstamp Review

Not unlike Kraken, Bitstamp was also launched in 2011 and remains to this day one of the best BTC exchanges you can find. The main reason you can be assured financial security by using Bitstamp is that over 98% of the digital funds are kept in offline places. Bitstamp also makes cryptocurrency exchanges quick, safe, and hassle-free no matter what amount you decide to purchase.

Pros

  • Ranked high on most rating lists since it has never been reported to scam its users with any hidden fees
  • Bitstamp was the first nationally licensed exchange for Bitcoin
  • One of the easiest options for buying Bitcoin since users can make purchases with credit cards
  • Customer service is highly responsive, at least within an hour of being contacted

Cons

  • Margin trading and exchange of Altcoin is not available
  • Transaction times are not very consistent. Users have reported the first couple or so transactions to appear within minutes and then extend to as long as 5 days after that.

10. HitBTC Review

HitBTC is a more recent cryptocurrency exchange to join the industry, launching only in 2015. It is headquartered in London. Despite being fairly recent, its numbers have been rising consistently ever since it started. It offers good security measures for its users with a two-factor authentication process and variable trading fees going by the time when a transaction is executed. For those interested in a UK BTC exchange, HitBTC is becoming a fast favorite.

Pros

  • Platform is easy to use even for novice traders
  • Backups for software can be accessed on a daily basis through a computer as well as a mobile device
  • Professional traders can enjoy the benefits of low fees and high liquidity

Cons

  • There have been reports claiming that this is not one of the safest options for purchase of Bitcoin
  • The reviews have not been consistent regarding the quality of services and responsiveness of the customer support team

11. 247exchange Review

247exchange is renowned for providing a user interface that is easy to access and highly transparent on matters like fees so traders can feel more knowledgeable and relaxed when they sign up for it. Also, once you are through the process of verification, you will be entitled to purchasing Bitcoins with your credit card. However, it falls somewhat short of making it as one of the best exchanges since it makes the process of verification and other documents available in English only.

Pros

  • User interface is simple and easy to use and is accessible from your computer and mobile devices
  • Customer service is good, particularly with the verification process
  • Verification does involve revealing your phone number which can be easily managed with a text message

Cons

  • Verification for credit card can take as long as a couple of days
  • You may encounter some trouble with the verification documents if you are not familiar with the English language
  • There is room for improvement regarding communication of the verification process

12. POLONIEX Review

The poloneix cryptocurrency exchange is based in the United States and promises great security with the use of monitoring programs that are active all day, every day.  There plenty of reviews online that regard Poloneix as a safe and reliable service. In fact, it is so highly regarded that it has actually been overloaded with users giving its customer service team a very hectic schedule.

Pros

  • Altcoin exchanges are available
  • Good liquidity available
  • Capable of serving international customers even if the primary focus is on the US market

Cons

  • Fiat trading is not available
  • Customer service takes a while to respond due to the surge in popularity which has caused an overload of customers

13. BitBay Review

Bitbay is an exchange for Bitcoin that is based in Poland. It is important to know upfront that this not an exchange that offers any international trading services. It is also not exactly the cheapest option for purchasing Bitcoin, but it charges fees that are lower compared to the majority of its competitors. You can assess the fee rates more accurately after comparing them to several more sites.

Pros

  • Enables transaction to be instant so that you will receive the prevailing market price
  • You can have bot do the trading for you in case you cannot do it on your own
  • User interface easy to use thanks to some great features that help make Bitcoin exchanges immediately
  • Traders are allowed to set whatever price they content with paying as well as how much cryptocurrency they would like to buy

Cons

  • Not the ideal option for you if you are not residing in Poland
  • It has been reported by some users that the site is somewhat unstable
  • Debit card or Mastercard privileges are restricted only to users operating from Poland

14. Bitfinex Review

Bitfinex is based in Hong Kong and is an immensely popular exchange site for traders seeking to trade cryptocurrencies in US currency. Bitfinex has been listed consistently among the highest ranking cryptocurrency exchanges since 2014. It prides itself on its transparency of services, policies, and user-friendliness. It is certainly one of the most prominent players in the market for cryptocurrencies.

Pros

  • Trading on margin and margin-funding are available
  • One of the largest platforms for cryptocurrency exchange
  • Access to a wealth of useful trading tools

Cons

  • There is just one method of making deposits and that is via SWIFT along with a bank transfer
  • Customer service does not have a swift response time
  • Withdrawals often take more than a day to process

15. CoinCorner Review

CoinCorner was created only in 2014, and it is well known for making it an easy process to purchase and sell Bitcoin. It also contains a very generous affiliate program offering a commission rate as high as 25% along with daily payments in Bitcoin as well. Management of this exchange is handled by peers that work tirelessly to keep the platform open-source allowing anyone to make a purchase.

Pros

  • Customer support is very responsive not merely to inquiries but also posts on other forums
  • Interface is user-friendly even for novice traders

Cons

  • Account verification can make the process rather slow
  • Setup help videos are of little help.

As you can see, there is no shortage of good cryptocurrency exchanges for you to try. All that is left do is pick the one that is the closest match to your specific trading needs and carry fewer risks.

kucoin review

KuCoin invitation code

Last Update: Larry Newman Leave a comment
KuCoin.com is the hottest cryptocurrency exchange at the moment. Kucoin even has its own token called KuCoin Shares (KCS).

VISIT KuCoin
I am a kucoin user myself, and I love the fact that this exchanges listens to the community – they have integrated many features that the traders asked for.

UPDATE May 2018 – The KuCoin “Referral Bonus” program is open again. Use KuCoin Invitation Code: 24R8w and Sign Up Here.

Kucoin is not considered one of the fastest growing and most trusted crypto exchanges. Most of the time you will find cryptocurrency on kucoin first, before they add it to bigger exchanges like Binance and Bittrex.

Here Is a KuCoin Invitation Code

KuCoin invitation code: 24R8w – Sign Up Here

So if you want to invest in lesser known coins that have a higher possibility to go 5x or 10x, then Kucoin is the right exchange for you.

KuCoin even has a referral programs, where you can refer your friends and get a cut of their trading fees.

Lets say you sign up to KuCoin today. You get your unique referal link and invite your friend. He generates $1 trading fees. You will get a cut of these fees (you get 20%).

The reward program has 3 tiers. That means that once you invite your friend, you will also earn from his invited friends and so on (up to 3 tiers). You get 20% for tier 1 (your friend), 12% for tier 2 (your friend’s friend), 8% for tier 3 (your friend’s friend’s friend).

To understand it better, take a look here:

Where To Find The KuCoin Invitation Code

If you want to start inviting your friends to this exchange then you first need a KuCoin account. Registration is very easy, and it takes only a few seconds.

There is no complicated verifcation process or anything like that. You’ll have an account in a minute.

Next you should go to the Explore > Invitation Bonus menu. It should look like this:

Buy Kucoin Tokens

There are a few advantages for buying KCS (KuCoins own token):

  • Less Fees: All KuCoin Token holders get a 50% fee discount when trading on their platform. This works just like on binance. It’s always better to use these tokens to pay the fees.
  • Better Support: Some people claim that you get faster support, this way (unconfirmed).

I really think that KuCoin is one of the better exchanges out there. Their platform is fantastic and you will find all features you need to trade currencies successfully. They really listen to their community and try to add even more features in the future. The layout is simple and clean. The fact that they add ICOs and lesser known coins faster than others, means that you can get your hands on these before they start pumping.

Good luck with your trades. To the moon!!!