Bitcoin is traded on InstaForex platform..
FOREX refers to Foreign Exchange (FX) market where currencies are traded. It is the highest and fastest growing financial market globally with a daily turn over of over $5.2 trillion dollars far in excess of the total traded volume of the US stock exchange.
Trading is done over the counter OTC,which means that there’s no central exchange or clearing house involved. It is a twenty four hours business, Mondays-Fridays. It was once the exclusive preserve of the banks,corporations,investment houses and financial institutions. With the advent of brokers notably Instaforex, the Forex market is now accessible to all traders worldwide.
Currencies tradeable are categorised into two thus:
1. Major currencies; these are paired with the usd,with a characteristics of lower spread-: three pips spread .e.g EURO/USD,GBP/USD,USD/CHF,USD/JPY etc
2. Cross currencies; These are not paired with the usd,and with a characteristics of varied pips spread e.g Eurjpy,GBPJPY,AUD/JPY,EURPNZD etc
BITCOIN: Was created by a mysterious developer using the pseudonym Satoshi Nakamoto on the 3rd January 2009(from Japan). It is the first decentralised digital currency otherwise known as Cryptocurrency. It is now legalised in the USA and are subject to the same taxes and reporting requirements as other currencies. There is no physical bitcoin as there are dollars,Euros or pounds. One can create a digital wallet where you can securely store digital currencies, then connect your bank accounts,debit cards or credit cards so that you can exchange digital currencies with local currencies.
All Bitcoins transactions are public,traceable and permanently stored in bitcoin network. Bitcoin addresses are the only information used to define where bitcoins are allocated and where they are sent.These addresses are created privately by each user wallets.
Bitcoin is traded on Instaforex platform,for example on Mt4 thus:
1.Locate ‘Market Watch’put your cursor inside it,right click,& locate ‘Show All’& click.This action would enable you to see all tradeable instruments on the platform.
2.Locate ‘Create a new chart’ on the platform,click & locate ‘Cryptocurrency’.
3.Place your cursor on ‘cryptocurrency’ & locate ‘Bitcoin’
4.Click on ‘Bitcoin’ & the Bitcoin chart would be displayed for trading
GOLD: Is similar to currencies like the US dollar or EURO because it is durable,portable,a store of value and widely accepted globally with standardised physical characteristics. Since the price of Gold often fluctuates, independent of its industrial supply and demand,the emotions and behaviours of traders tend to drive major trends of this metal. One of the major determinants of gold prices has been the level of real interest rates. When interest rates are low,investments in cash and bonds tend to provide negative returns,thereby prompting investors to seek alternative ways to protect the value of their wealth and vice versa, when the interest rates are high.
Gold is traded on InstaForex platform thus:
1.Locate ‘Create a new chart’ on the trading platform,click & locate ‘Metal’
2.Place your cursor on ‘Metal’& locate ‘Gold’.
3.Click on ‘Gold’& the Gold chart would be displayed for trading.
As with any other instruments there is no single best way to trade Gold. Many traders from other markets have found that the technical trading strategies utilised on other instruments, can easily be applied to the gold market. Success in gold trading have been found in adapting strategies that are based on trend-lines,overbought and oversold oscillators like the R.S.I and Stochastics.
From the above analysis,the InstaForex trading platform is among the first and always in the forefront of providing traders worldwide with the state of art/cutting edge technology which ensures that traders get the best as far as their trading business is concerned.
Start your Forex,Bitcoin and Gold trading career with InstaForex Nigeria and experience trading at its best. Hence, InstaForex prides itself as one of the best brokers globally.
To open a Free Forex Account Click here..
InstaForex Nigeria, Basic technical skills on how to constantly make money from the Forex Market is displayed here..
1. Plan ahead – Make your work plan in advance; Know the position size, the StopLoss Points and the TakeProfit Points (SL and TP) before you start to trade.
2. One or two pair at a time; It is better to focus on one pair than try to “conquer” many pairs.
3. The trend is your friend; Trade in correlation with the trend: Do not buy in a downward trend . and do not sell in an upward trend.
4. Cut your losses – While they are still small; Once you lose, do not keep on buying in the same direction, and hope the market will get your investment back.
5. Stop Loss Strategy; Never enter a position without giving a Stop Loss order. It is your last line of defence
6. Two indicators or more; Do not enter a position based on only one indicator. Look for other indicators like Relative Stregnth Index (RSI) that supports your
7. Always know that the market breaks the Resistance Level when the candlestick’s closing rate is above the resistance level.
8. Exit rule startegy is get out of a long position just as it takes off like a rocket and get out of a short just before the price drops like a stone
9. To be a successful trader is just to find the major support and resistance lines and trade from there with small stop losses
For more on our Forex Winning Tips Click here
Forex Trading is investment and investments worldwide involves the application of rules..
1. EARLIER ADVERT AND MISCONCEPTIONS BY INTERNET MARKETERS;
In the early nineties and even till this day, a lot of internet marketers instead of realistically marketing Forex trading has been in the forefronts of making bogus and unrealistic claims thereby misleading the public.
2. LACK OF ADEQUATE KNOWLEDGE OR TRAINING;
Most prospective clients and client alike were found to have plunged into Forex trading, based on the information that one could double his account over night.
Forex trading is knowledge-based and requires skill. likewise any trade or career or business that requires skill requires thorough training and re-training. At InstaForex Nigeria Office we always emphasise on proper and adequate knowledge hence we run training on daily basis.
It is said that “one cannot value any right decision with an unstable mind” Forex trading is investment and investment are all about decision making and decision taking. These and many more especially how to manage and avoid emotional trading are well taught to our numerous clients and trainees.
Emotional trading always lead traders to revenge-trading. This should be avoided at all cost. Most traders after a string of losses attempt to increase their volume/lot sizes hoping to recoup their losses by so doing they risk their account.
We emphasise to our clients that on no account should they revenge trade instead should reduce their/lot sizes in that situation.
4. INABILITY TO SET STOP LOSS & TAKE PROFIT;
It has been found that most traders/clients do not know how to set take profit (TP)and stop loss(SL) accordingly.
InstaForex Nigeria Ofice much emphasis are laid & trainees are thoroughly taught and reminded of the importance of stop loss(SL) and take profit(TP).for more on how to set stop loss and take profit, log on to www.instaforex.com.ng and go to our blog section and locate ‘how to set stop loss and take profit’ and many more.
It is said that greed is the bane of most traders. many come to Forex trading with a very wrong mind-set; Seeing trading as betting which it is not. with wrong mind-set and in order to make a’kill’ of the market they forget that Forex trading is investment and investments worldwide involves the application of with rules.
We strongly advice against this against this vice, and to wait patiently for your trade and manage their risks devoid of greed accordingly.
For more tips on Forex secrets Click here..
- Minimum Deposit of $1 and a 1:1000 leverage. InstaForex started allowing of Forex trading with only $1 deposit and they still offer it till date. At a time most brokers had minimum deposit at $100. Its often surprising that which has many millionaires’ traders can also accommodate many traders with $1, $5 deposit. But no matter what the deposit is, they still offer same and equal services for every account because their funds in the Forex market are in billions of dollars.
- Good bonus system – InstaForex Nigeria offer several bonuses to its clients including bonuses like 30%, 55% etc. the best part is that these bonuses are tradable which many brokers are trying to imitate. Other brokers will remove their bonus from their client’s account when the customer is losing and this eventually causes the client to lose all his funds. This is not so with Instaforex, InstaForex broker allows the bonus to buffer and support the client’s capital throughout.
- live chat is so much helpful- no delay to response on some problem..But we know it is easier to deliver effectively to a small range of people than to a large amount of people. You can compare IFX with Facebook. Facebook is becoming bigger everyday but their service is not depreciating (don’t compare it with google because if you call google support, there is a great chance that no one from other side will answer your call), InstaForex Nigeria support service is better because is gives clients within Nigeria the opportunity to have issues regarding their accounts resolved locally.
- No cheating.- Most brokers offer the same amount of spread but this is what newbies will discover. Some cheating brokers will offer a spread of 0.3 but when you want to close your trade their platform will prevent you until 0.3 or more values have been added to that trade. InstaForex does not exhibit this type of fraud. A client once complained about a broker that he could not close a profit trade until 4hrs later after so many attempts and requotes. He eventually closed that trade in a loss. This is pure cheating.
- Payment processors-Most payment processor are available for Instaforex customers. Instaforex suspended using Webmoney long before other brokers realized the difficulties experienced by clients using that processor. This shows that Instaforex is very conscious of their clients best interest. Instaforex encourages fast withdrawal and are pioneers in the internal use of Wallet system and local deposit and withdrawal system. InstaForex even offers clients the opportunity to fund and withdraw from their accounts locally. For Instance, in a Country like Nigeria where Wire transfer is difficult to do, clients now funds their InstaForex Accounts in minutes by just making an internet transfer deposit or Cash Deposit to InstaForex Nigeria Bank account.
- Demo Contest– unlike other Brokers, Instaforex care equally for the very rich and the very poor spectrum of their clientele. There are clients that have the trading skills but lack the capital to trade with. To help such clients they introduced so many types of contest from weekly to monthly type with cash prizes that are credited onto live accounts from which these clients can trade and earn profits for themselves. This way InstaForex has made itself well loved by vast range of Forex traders. Several Nigerians have won thousands of dollars from such contest and this became their start-up capitals.