Choosing the right trading account is crucial to your Forex success. There are different trading accounts to choose from, each with its advantages and disadvantages. Here’s a beginner’s guide to help you select the right type of trading account to start with:

Demo trading account

A demo trading account is a virtual trading account that allows you to practice trading without risking real money. It’s an excellent option for beginners who want to learn how to trade and test different strategies without risking their capital. Most forex brokers offer demo trading accounts with all the features of a live trading account, including access to real-time market data and trading platforms. However, demo accounts do not replicate the emotional and psychological aspects of trading with real money. Do you know how to create demat account?

Micro trading account

Micro-trading accounts allow you to trade in small increments, typically with a minimum deposit of $50 or less. It’s an excellent option for beginners who want to start trading with a small amount of capital. Micro trading accounts usually have higher spreads than standard accounts, but they offer the same trading conditions, including access to real-time market data and trading platforms.

Standard trading account

Standard trading accounts require a minimum deposit of $1,000 or more. It’s an excellent option for traders who want to trade with larger capital and enjoy lower spreads. Standard trading accounts offer the same trading conditions as micro and mini accounts, including access to real-time market data and trading platforms. Are you familiar with how to set up a demat account?

MINI trading account

Mini-trading accounts require a minimum deposit of $100 or more. It’s an excellent option for traders who want to trade with larger capital than micro accounts, but need more capital to open a standard account. MINI trading accounts offer lower spreads than micro accounts but still have higher spreads than traditional accounts.

Managed a trading account

A managed trading account allows you to delegate your trading account management to a professional trader or a team of traders. It’s an excellent option for traders who need more time or expertise to manage their trading accounts. Managed trading accounts usually require a minimum deposit of $10,000 or more. They charge a performance fee on the profits generated by the brokerage account.

In conclusion, as a forex beginner, it’s essential to choose the right type of trading account to start with. Demo trading accounts are an excellent option for beginners who want to practice trading without risking real money. Micro, mini, standard, and Islamic trading accounts are suitable for traders who would like to trade with different levels of capital and enjoy different spreads. Managed trading accounts are an excellent option for traders who want to delegate trading account management to professional traders. Consider your trading goals, risk tolerance, and capital when choosing the right type of trading account to start with.

History of Bitcoins says that around a million Bitcoins were mined by Mr. Nakamoto before 2010 and then handed over the alert key and control of code to Gavin Andersen, who later on became the lead developer of Bitcoin Foundation https://bitpapa.com. In 2011, Bitcoins first started to trade which started with the price of $0.30. Later on, lots of variations were observed in the prices of Bitcoins where I can buy crypto in Nigeria.

Things That Clearly Define The Btc Assets!

When the first few transactions were made and a “proof of concept” was made available to the general public did the actual users of Bitcoin start pouring in, mainly used for trading on the black markets – the most famous example being “Silk Route” that only accepted Bitcoin or btc, as a currency of exchange for 30 months after its inception.

What Is Bitcoin And How Was It Originated?

Bitcoin is a branch of cryptocurrency or better still is the first break out from cryptocurrency. Some countries have legalized the bitcoin process while other countries are investigating the process. The domain name bitcoin.org was registered in August, 2008.

These days’ people organize classes for interested individuals that would like to learn about bitcoin.

The increase in bitcoin trading:

The Chinese government was the first one to completely ban Bitcoin, a move that began in late 2017 and was fully acted out in early 2018. Due to the ever sky rocketing value of the currency and it reaching an all-time high of $19,783.06 on 17th December 2017, the government decided the currency wasn’t suitable to be  used as a currency of exchange. Ever since, the value of the currency has been a 4-5 digit figure, with massive fluctuations seen every now and then depending on how the currency performs in the market Over 100 payment methods.

Investing in Blockchain!

The best way to invest and know you will definitely get your money back is through bitcoin. You get your money and also added income too. 1 btc or one bitcoin when bought equals a great amount of money, imagine when it is saved and then invested on. The world is evolving and the best thing would be to evolve with it and understand how far your growth has come. Do not doubt the fact that the bitcoin trade can yield great results.

The transactions:

The unit of Bitcoin is btc. Bitcoin transactions are recorded in Bitcoin. Blockchain is a chain of blocks. The blockchain is maintained by a network of nodes that helps in communicating and also maintains the software.   The role of the networks is it helps to invalidate all the transactions and then adds them o the ledger concern and finally broadcasts those ledgers to other different nodes.  The whole process of transactions takes around 10-12 minutes to complete.

Conclusion:

Today, Bitcoin is still widely used by institutions globally. However its popularity mainly remains limited to general knowledge amongst people over actual everyday market usage due to its exuberantly high prices and equally significant fluctuations.

Bitcoins are technically the online version of cash which one can send by its digital wallet to another’s wallet.  Bitcoins are very difficult to copy compared to money and it is also not controlled by any Government authority or any bank.

There has been a lot of development in the precious metals’ world, especially when it comes to materials engineering and new smelting techniques. This has brought variety to the precious metals’ world. When it comes to jewellery people are making unconventional choices driven by design more than the material used to make a particular piece of jewellery. They trust that when a jeweller says something is made of gold it really is. In the past gold jewellery was distinctively yellow, these days gold comes in other colours like rose pink and white.

With the number of different options available today, some people are bound to be confused. There are still people who make jewellery from iron sulphide and people who buy said jewellery thinking that it was the real deal only to find out later that they have fallen for fool’s gold. Sometimes you need a gold dealer’s trained eye to tell the difference between gold and pyrite.

When gold isn’t mined out of the ground it is yellow in colour. It is smelter and refined to remove impurities. The highest purity that gold can attain is 24 karats or 99.99%. At this purity, it is either made into investment-grade bullion or fashioned into other products like jewellery.  24 karat gold is too soft. To make it more durable and rigid it is combined with other metals like nickel, copper, or zinc. White gold is produced when gold is combined with zinc, nickel, and palladium. This combination is what makes the gold look white like silver.

White gold and silver are almost identical in weight and colour but gold dealers will usually conduct tests to determine what they are and their purity. Dealers and jewellers who have been looking at jewellery for a long time can spot the difference between metals that look the same but aren’t.

White gold and silver the difference

White gold might look the same as silver or even platinum but there are a ton of differences that contribute to the vast contrast in market pricing, uses, and whether they tarnish or not. For instance, but because white gold is an alloy, you won’t find a pure 99.99% gold bar that is white in colour. Adding additional metals is what gives the desired color but when it comes to gold bullion, the unspoken rule is that it cannot be any other colour but yellow.

Purity

To influence the colour of the gold, goldsmiths have to add sufficient palladium, zinc and nickel to pure gold to change gold from yellow to gold. White gold jewellery is not any less pure than yellow gold jewellery. If your white gold ring has a hallmark of 18K then it means there is 75% gold, that’s holds true for a gold jewellery piece with an 18k hallmark. Both have 25% metal alloys; the gold is strict as a result of metal alloys. However, the highest quality of white gold you can get is 21 karats which means a maximum of 87.5% pure gold. That is quite hard for most jewellery and a lot of gold rings hardly get close to that kind of purity. Jewellery with less pure gold will be prone to some tarnishing and with nickel being one of the metal alloys, people with nickel allergies will react to its presence in what they are wearing.

By default, sterling silver contains 92.5% pure silver and 7.5% other metals while fine silver has 99.99% pure silver.

Pricing

When it comes time to sell gold jewellery it doesn’t matter whether its color is yellow or white. Gold dealers will pay you the same price for it regardless. This is because when a gold dealer evaluates your jewellery its only to buy the gold content in it to put through the recycling or refining process. 

A pension plan is one of the best financial tools that can help you prepare for your retirement. Read on to know how.

What is a pension plan?

The plan gives you financial security and independence in your retirement life. Also, known as retirement plans, they offer a combination of life insurance and wealth creation opportunities using compounding. You need to pay a fixed amount regularly for a specific duration. The plan gives out a constant flow of pension regularly after you retire. Some plans even offer the option of a lumpsum payout.

The plan can aid you financially when you are not earning actively. It allows you to lead a financially independent life, without having to compromise your standard of living.

What are the features of a pension plan?

Before you purchase any policy or invest in a plan, it is necessary to understand what exactly it offers and how it will benefit you. So, here are some salient features of the plan that you need to know:

Annuity

Annuity refers to the regular payment that you will be receiving from your plan fund. You can choose your annuity to be monthly, quarterly, half-yearly, or yearly, as per your requirements.

Vesting age

Vesting age refers to the age at which you will begin receiving the annuity from your pension policy.

Accumulation period

The accumulation period refers to the time during which you make your investments in the plan to accumulate wealth and build a corpus for your goals.

Payment period

The payment period refers to the time when you will be receiving the payment from the plan after your retirement.

Surrender value

You can choose to surrender the plan before its maturity. The amount that you will receive after surrendering the plan, is the surrender value.

What are the benefits of a pension plan?

Here are some benefits of purchasing the plan:

Regular income even post-retirement

Once you’ve retired from your working life, you will want to live a stress-free and hassle-free life. The plan, with its regular payouts, will have you covered and provide the financial support you need in your retirement years.

Rider options

You can choose an add-on rider in your plan, which will pay the sum assured from your plan to your nominee, in case of your untimely demise. With this, you can keep your family financially secured even in your absence.

Tax benefits

You can avail tax benefit under section 80CCC and Section 10(10A) of the Income Tax Act 1961. Consult with your tax advisor for more details.

Flexibility

You can choose a premium payment term as per your financial situation and requirements. Also, you can customise the plan to best suit your financial needs. You can also use a pension plan calculator to figure out what term and payout mode suits you best.

Who should opt for a pension plan?

This plan can be an integral part of every person’s retirement planning. Since old age brings a lot of age-related ailments, medical expenses tend to increase. A pension plan is extremely useful in this case. Hence, experts recommend that this plan is a must if you are planning for your retirement regardless of what life stage you are at.

Most of us have been taught since childhood to set aside a small amount of money to enjoy a greater amount in the future. A plan that focuses on savingscan help policyholders amplify this habit while also providing them with many other benefits such as protection and money management.

The following are the benefits of the best savings plan in India one can enjoy upon opting for one: 

• Coverage &Payouts: Being essentially a life insurance product, this plan offers much-needed financial coverage to your loved ones in the event of your untimely demise. Apart from the payouts you receive, the added benefit helps protect your family financially in a more comprehensive way.
• Financial Discipline: Along with being aware of the importance of financial savings, making it a regular habit is also essential. That is where this plan can prove to be useful. One of the most important advantages of purchasingone is inculcatingthe habit of financial discipline.
• Goal Achievement: Some of the best plans in Indiathat focus on savings are specifically designed towards meeting important life goals for many individuals and families. For instance, some of these plans are designed to create wealth, help you save up and finance your child’s educational goals.
• Life Cover and Riders: Some savings plans also offer the dual benefit of a life insurance cover and wealth creation options. This makes them a more preferred option than other plans. Some plans may also provide for the addition of certain riders that could enhance the financial protection for you andyour family.
• Wealth Creation Options: This plan also offers several options in terms of wealth creationvia financial instruments. Your money can become a part of equities that involve reasonably high risk,or traditional and safer instruments like fixed interest securities. Some plans may also offer guaranteed returns.
• Flexibility: Every individual has different life goals and priorities. Plans that help you saveconsider such differences and offer a range of flexible features that can be adaptedto suit each individual’s needs. They offer options in the wealth creation criteria,along with terms and payouts. You can also switch your choice of wealth creation avenues as and when your risk appetite changes.

Choosing the Right Plan

Plans that help you save come in a range of products and variants across the board. To find one that best suitsyour savings requirements, you mustanalyse your financial goals. Chalk out your long-term or short-term goals that will benefit from this plan. Use a savings plan calculator and calculate the different estimated values of plans. Moreover, finalise a growth horizon and determine your risk appetite.

You must also pay attention to the specifics of the plan you wish to opt for. Consider vital factors such as the unique features, the flexibility it offers, and additional benefits such as riders.

Once you are sure of your decision, you can go ahead and purchase an online savings plan from a good insurance company

Nowadays, many people need to borrow money, but it is one of the complex decisions that one has to make because it is hard to find a lender. A person may not get all the things so quickly, and even if they find the lender, there are also many other things that they need to take care of. It is because it involves endless paperwork that has to be done, and it is vital for a person to have a good credit score, and if they will not, they may not be eligible for the loan amount.

But if you want are the mortgages for first time buyers, then you should go for a mortgage broker because they will help you in solving all these problems and give you the best solution for that. Now you have the doubts such as that that are mortgage broker, what they or why people should choose them? So In this article, you will get to know about all the things related to them.

About Mortgage Broker

A mortgage broker is a mediator between the lender and borrower; he is the middleman that people hire to manage the mortgage loans for the individual or the business. They keep contact between the lender and borrower; a person does not require any professional degree to become the broker.

But they do need some knowledge about the market in which they are going to work. This process involves lots of paperwork, and the mortgage broker helps the person in getting all the documentation done.

What are the responsibilities of a mortgage broker?

A broker has to handle plenty of things between the lender and the borrower. This work comes with so many responsibilities and duties that a broker has to offer to their clients, such as mortgages for first-time buyers, which may vary from service they are offering to a different client.

Here are some of those responsible are as follow-

• The first duty and responsibility of a broker are to give the best financial advice to their clients, and for that, they need to have perfect knowledge about all the stuff that is related to the market so that they can tell about the financial position of the borrower and help them in every situation.
• The person should research the market so that they can find the best and mortgage products available in the market and offer them to their clients. As a broker, it is their responsibility to provide their clients the best deals.
• It is their responsibility to always give the complete details to their clients, complete the mortgage application of loan, and meet all the necessary paperwork. If you are broker is not offering you all these services, then a person should not choose them.
• The broker’s next responsibility is that they should disclose all the legal documents to both the parties, such as the lender and the borrower. And they should also make this sure that whatever they have explained to the clients is understood by them or not, and if they do not understand it, they should explain that to them.

From all the points, a person may have got the idea that if they are hiring the broker, then they should check their services if they are offering these the only they should hire them. If they are not, then they should seek some other options.

Advantages of broker

A mortgage broker offers so many benefits to the people, and some of those advantages are mentioned below-

• One of the main benefits that a person can experience from hiring a broker is that they help you in saving time. First of all, they will give you the lender according to your specification. There is a lot of paperwork involved in the loan; the broker does all those things, and the clients do not have to worry about anything.
• If we talk about the borrower, then they do not have to pay any fees to the broker because the broker has already been paid by the lender when the loan is taken out. They get their commission from there and the borrower does not need to pay them again.
• They have so many contacts with the lender, and they will find you the best market deals and make it process in the fastest way it is possible. People do say that there should be no rush while mortgaging the loan, but there are some situations where you need money, so these brokers help you in getting that in no time.

So, you may have got the idea that if you hire the broker, then these are some of the benefits that you will get to experience. This is not just there are many others such as you can save you money and time and many other benefits that you will get to know once you hire them.

Moving to the cloud is a term that you will find in many organizations. But in a real sense, it is an easier said than done term. Cloud procurement and the courage to move to the cloud is a scarily step that many organizations are not ready for. The IT team is worried about privacy and security issue. On the other hand, employees are concerned that this step might make them lose their jobs. However, in modern times, moving to the cloud is the best option for any organization. Research has shown that the best way to manage data is through cloud services. Below are some of the reasons why organizations should embrace cloud services.

• To reduce the burden and the burnout on the internal teams.  

The IT teams have a lot of work in an organization. They have to provide 24/7 support to the team and ensure that all things run well. All the organization departments depend on the team, and incase their consent is withdrawn, and the organization runs into trouble. However, when an organization gets all these done by an eternal source, the team’s burden is significantly reduced. They can now focus on the other issues of the organization, such as the following product review or innovative plan. By so doing, the organization will run well, and things will be okay.

• Reduction in cost of savings

When your organization embraces cloud services, there is a substantial reduction in the cost.

Earlier on, one had to purchase servers and ensure that they are well maintained. Maintenance of physical servers is not a simple thing. Organizations have to part way with a lot of cash. However, when you move data to could, you eliminate this issue. Here, your organization can grow exponentially without necessarily going for in-house investment. All this is taken care of by the cloud vendor. Thus the organization can focus on other issues such as strategic management and plans for the next quarter.

• Flexibility and scalability 

An organization that embraces cloud services is more flexible and scalable in how it does its business. The workers here can execute their duties from anywhere on the planet. They do not need to visit the offices to what is required of them. A good example is now when the whole world is faced with a pandemic. Employees in the organization can work from home, and this ensures that the organization grows. Using either a laptop or their phones, they can complete the work faster than in the office. Even on a visit tour to the client, employees have the joy of accessing internal systems through the cloud platform.

Thus, embracing the cloud is super crucial for any organization that needs to be flexible and scalable.

The Forex market can be affected by different economic theories on a short and long-term basis. Such influence has the ability to bring about changes in the financial data more immediately. Most times, the largest firms and companies in the currency exchange market are comprised of various participating countries. The currencies of these countries represent the shares of these countries. So, it can be summed up that a country’s financial data corresponds to the net earnings of and information about a business entity.

Financial Factors that Impact the Forex Market

There are instruments like the information and news regarding a country’s internal economy, which directly influence the country’s currency price. Pretty much the price of a country’s currency follows the direction of those concurrent events and news releases.

Here are several of the essential factors that help shape a currency’s potential at a particular time.

1.     Employment Data

The date which represents the current number of employed people in the US finance is termed as the non-farm payroll. This non-farm payroll data gets released every month on its initial Friday. The date has been being released by the BLS of the Bureau of Labor Statistics.

If an economy indicates a steep fall in the employment rate, it shows a highly contradictory economy. Conversely, a steep rise is the indicator of a prosperous and investable economy.

2.     Interest Rates

Interest rates are more important than they sound. They were and are always one of the prime focuses in the currency business. In all the economies in the world, monetary policies and supplies are mandated by the central banks of the respective countries.

A higher interest rate set by the central banks shows their willingness to make their currencies more sharable. People get more profit by trading them. Those who are trading mutual funds, must https://www.home.saxo/en-sg/products/mutual-funds. By having clear knowledge of this industry and the impact of interest rate, retail traders in Singapore can make wise decisions with great ease.

In contrast, central banks prevent their currencies from getting traded by increasing their rates of interest. People stop trading such assets with lower interest as they cannot make much money exchanging them.

3.     Inflation

Inflation is the measurement of an asset’s pricing level and the decrease and increases volume over a range of time. The level of inflation is determined by a group of services and goods that a country produces or imports.

A high level of inflation means that the money of a country has less value. People typically avoid such a country’s money because of their given indication of a less stable economy.

On the contrary, a low level of inflation is a sign of a more stable economy and never fails to hook traders to trade the asset of that economy.

4.     GDP

GDP is the measurement of the services and goods that a country produces within the range of a year. The GDP can fall into four discernible categories:

• Business Earning
• Government Earning
• Private Production
• Total net Imports

GDP is the ultimate representation of a developed, organized and productive country. The GDP value of a country shows its economic progress compared to the previous years.

5.     Geopolitical Events and Macroeconomics

Events like financial crises, elections, monetary policy changes, and wars have the greatest impact on the Forex market. Most times, because of these events, a country has to revamp its internal structure. Any change in a country’s internal political and economic state affects the tradability of its asset.

6.     Capital Flows

The value of a currency can be significantly influenced by the monetary or capital flow resulting from particular interactions among countries. When the volume of imports exceeds the volume of exports, there is a tendency for a related country to observe a decrease in its tradable assets’ values.

On the other hand, an increased investment volume evokes the opposite result.

As we bid goodbye to 2020 and say hello to 2021, it’s also time to say hello to tax season.

This is one tax year that’s going to confuse a lot of people. You may have received help in the form of PUA unemployment insurance, PPP loans, or EIDL grants. About 13 million were on the PUA program alone.

Each of these programs has tax implications that you may not be aware of. How can you make sure that you’re ready for 2020 taxes?

Read on to find out exactly what you have to do to get your taxes right.

PUA Unemployment Insurance

Did you collect unemployment through the Pandemic Unemployment Assistance program or regular unemployment?

That income is taxable by the IRS. Some states tax your unemployment benefits, too. When you sign up for unemployment, you can elect to have about 10% withheld for federal taxes.

If you elected to have taxes withheld, it still may not be enough. You may end up owing money to the IRS and your state.

If you didn’t have taxes withheld at all, you will have to pay taxes on your unemployment income.

PPP Loans and Taxes

For small business owners and self-employed people, the PPP loan program provided a lifeline to get through a tough period of lockdowns.

PPP loans allowed businesses to have the loans forgiven if the loan was used for payroll, rent, utilities, and mortgage interest.

The catch is that after the program rolled out to millions, the IRS announced that businesses couldn’t deduct the expenses paid for by the loan.

The loan isn’t considered taxable income, so those expenses are considered double-dipping.

Fortunately, that issue was corrected by lawmakers. Businesses can now deduct those expenses paid for by the loan. However, it’s not clear if states will allow you to deduct the expenses or not.

EIDL Grants

Another program was the EIDL loan program. Businesses that applied for a loan under this program received a grant between $1,000 and $10,000, depending on the number of employees at the business.

Many rushed to sign up for this loan in the hopes of getting “free money” from the government. This money is taxable income, so there’s nothing really free about it.

Behind on Your Taxes?

Let’s say that your taxes caught you by surprise this year. What do you do if you owe a large tax bill? You do have options, but you have to be proactive.

You can go on an installment plan or file an offer in compromise. Check out this page if you need help figuring out the best option for you.

File Your 2020 Taxes With Confidence

The year 2020 has been a challenging one on many levels. Don’t let your 2020 taxes be challenging, too. You just have to know what to expect before you file your taxes.

It’s safe to assume that the IRS treats everything as income. That includes PUA, and “free money” from EIDL grants. You need to make sure you include these funds with your annual income.

Be sure to check out the Finance section of this site for more money tips.