70 Trades: all you should know before starting

70 Trades: all you should know before starting

Now that you have ventured into forex trading, you need a broker that will act as a medium of exchange with the forex market. You’ve made the best decision by chosen 70trades as your ideal broker. But you shouldn’t wet your feet blindly. You must arm yourself with the right information to climb the investment ladder.

We’ve got a detailed guide to take you through 70trades and know what is expected from both of you. Remember, this is a collaboration, and both parties should play their parts.

How 70trades operate

Unlike other forex brokers on the web, forex uses one of the least popular trading software called PROfit. The platform is straightforward to adapt to and use. That’s why it is the go-to platform for newbies.

The software possesses features like shares, market indices, bonds, built-in currencies, and commodities.

Since trading is a volatile venture, pouncing in it without a plan is unwise. However, most brokers don’t have programs to introduce newbies; hence, they end losing loads of cash. It’s the reason why they allow you to trade with as little as $50. For 70trades, the least amount of money you can start with is $200. Don’t let the figure fool you; they have a way of compensating for this high requirement.

The broker has a demo account for starters. You use the account to practice investing and familiarizing yourself with forex trading. Some of the things you’ll learn with the demo account are making investment decisions and getting acquainted with master techniques. When you are good to go, you can throw in your $200 and practice what you learnt in the demo.

One of the characteristics that make 70trades stand out is having a traders’ protection policy that prevents any negative balance. It’s one of the most common trading challenges that traders face, and you can end up losing more than what you expected to receive.

Forex trade advisers and experts stress on this issue. Not all the forex brokers do this while still allowing you to trade in the platform.

Earning and Withdrawing Money

You ventured into forex trading for money. It doesn’t come easy, and your strategies must be right. Plus, you must know your time to drop down from the business.

The maximum ratio leveraging the risk factor for your transactions is about 1:200. On such immense proportions, you can either make big wins or big losses. Since you don’t know what to expect, you can consider it a high risk.

Once you’ve started earning money, the only thing that remains is withdrawing it. The platform doesn’t have issues here, but you need to get everything right.

For instance, you must have a valid bank account and successfully initiating a withdrawal request. Whether you are using PayPal, WebMoney, skrill, Bitcoin, or credit card, you are good to go.

Summary of 70trades features

You should first know that what 70trade offers is more than what you’ll get from other competitors out there. Why? Here are some features to prove that point.

As much as their platform layout is not the typical MetaTrader 4, it isn’t hard to get the hang of it. You will find this new or strange altogether, but you’ll love the experience of cruising through the platform. The first thread starts at 3 pips which can only work in the USD/EUR pair. When compared to the brokers in the industry, this might sound high, but remember that you already got a free demo and got trained.

The platform also offers professional advice from experts if you want to delve deeper into the forex market. They have divided the class into 3, the beginner intermediate and expert levels. All the classes have different bouquets which grow as you go up the ranks. By the time you’ve set foot on the expert level, you’ve got ideas on risk management, technical forex trade strategies, and analysis.

Bottom-line

Whether you are an expert or beginner in forex trading, 70 trades offer you a good platform to try out your luck. The free guides and tips you will get are golden opportunities that traders using other forex brokers envy. So don’t waste your time, use it while you still can.

 

Forex trading: definitions and tools

Forex trading: definitions and tools

Forex trading is the decentralised market in which currencies are negotiated, whose purpose is to facilitate the financial flow derived from international trading. This market is the largest and most liquid commercial market in the world, with daily trading that exceeds joint trading of all the bond and stock markets of the world, for more than 5.4 trillion dollars a day.

To understand what this volume of business means, it is what the New York Stock Exchange (the largest in the world) moves in a whole stock market. As in the stock market, you can change the currency based on what you think is worth (or where it’s headed). The big difference with the Forex is that you can trade up or down with the same ease. Let’s find out a little more about trading and forex.

Facts about Trading and Forex

Forex trading is, in simple words, the act of trading money. The currencies are traded through a broker or dealer in pairs, for example, euro and US dollar: (pair EUR/USD). Don’t get confused by the fact that you won’t buy or sell any physical money. Think of buying foreign currency as the purchase of a share in a country’s economy. You will be exchanging your money for another currency, based on that country’s economic activities and strength.

In Forex, the price of a currency pair is determined based on the country’s economy against the nation of the other currency.  Unlike other financial markets, the Forex market is decentralized and does not have a physical location. The Forex market is considered OTC (over-the-counter) market, because this market works electronically, in a network between banks 24 hours a day.

If you think that a coin will increase the value, you can buy it, if you think it will decrease the cost you can sell it. With such a large market, you will find a buyer when you are selling and a seller when you are buying, it is much easier than in other trading markets. Maybe you hear on the news that China is devaluing its currency to attract more foreign businesses to its country.

Forex trading tools

As with stocks, you can trade currencies based on your opinions about their values (or the prices you think the coins will have in the future). However, what sets Forex apart is that you can trade in both bullish and bearish trends. If you predict that a currency will increase, you can buy it. If you think your price will fall, you can sell it. Also, since Forex is so vast, finding buyers and sellers is much more comfortable than in other markets subject to liquidity.

If the price quotes are up to hundredths, how can you make significant profits by investing in Forex trading? The answer is leverage. To use leverage, you just have to set aside the margin required for the size of the operation. For example, if you apply a 50: 1 leverage, you can trade with $1000 by setting aside a margin of only $ 20 in your trading account. That gives you a much more significant exposure to a low investment.


Author: Editorial staff of 70 trades reviews blog

Why do some traders fail when they start doing online trading?

Why do some traders fail when they start doing online trading?

Some traders fail when they start doing online trading. Why is it happening? How can they avoid it?When we say that some traders fail when they start doing online trading, we do not mean to lose money: everyone who trades can lose money, this is part of the rules of the game. The traders who fail are those who lose (very little, no matter), they are discouraged and stop trading. Why is it happening?

Not everyone was born to do online trading

Online trading can be a source of great earnings but you should not think about trading as a machine to make easy money. When you start, the online trading does not take a big capital (you can start with a capital of just 10 euros) but it takes courage and winning mindset.

Making online trading means doing market operations, many transactions. Some of these will close in loss, others with earnings. Even millionaires traders lose money on some operation.

Those consider any loss as a tragedy, they are not really fit to do online trading. Better for them to do something else.

The winning trader is not the one who knows complex strategies, after all the strategies you learn or you can copy automatically using a social trading broker. The winning trader is the one who is capable of dominating the emotions.

And unfortunately not all are capable of it. To avoid loss as a trader is important, then, do an analysis of your personality to figure out whether you are able to withstand trading stress or not.

The wrong trading platform

Needless to go around: The online trading platform that you use it really makes the difference. In many cases, you can lose money because of a wrong choice.

The most striking case is that of unauthorized platforms: choosing a platform like that means losing all your money, because in most cases they are real scams.

scam-tradingBeware of scams

The worst way to start doing online trading is to believe the promises of easy earnings. Systems such as 1k Daily Profit, safe and instant gains. In fact, they are systems that do not work and that, indeed, they make you lose all the invested capital.

Those who start doing online trading should never believe, for any reason, to that kind of promise. They are fake and deceptive promises, designed to drive the trust and money of the less experienced.

Online trading is not a way to make easy money: to earn it requires an authorized and regulated platform, it takes commitment and takes time to devote. Anyone say something different, probably, is trying to cheat.


Author: Editorial staff of 70 trades reviews blog