There are a huge number of ways to make money online nowadays. You can do it sitting at home on the couch, at a table in a cafe or even in parallel with the main work. In general, anywhere, you just need an internet-connected computer or a smartphone.
Trading in the financial markets can be one of the most promising and profitable types of such earnings. Why? Let’s figure it out in this article.
What is Online Trading?
It is an opportunity to make money on fluctuations in the price of various financial assets. Simply put, you buy, for example, a currency and wait for it to rise in value. Or, conversely, you sell in the expectation of a fall in the rate. This is the basic principle of trading. But brokers offer more than just currency trading, which is a huge advantage. For example, working with a brokerage company like NordFX, you can trade a wide variety of asset types. For example, stocks, oil and gold, stock indices and even cryptocurrencies. Such a rich selection allows you to significantly diversify your earning opportunities. Moreover, you can earn not only on the growth, but also on the fall in the price of any of these assets.
Currency and Cryptocurrency Trading: Features
Let’s say you have chosen currency trading. What should you pay attention to? First, on the fact that all currencies are in pairs on Forex. That is, you do not just buy, for example, euros, but you automatically sell another currency in return. Basically, it all looks like in a standard exchange office. The thing is that you do not need to have all these currencies in stock, the broker will automatically convert funds from your trading account.
For example, when buying a EUR/USD currency pair, you purchase euros and sell US dollars. When selling the same currency pair, you, on the contrary, sell euros and buy US dollars. On Forex, all currency pairs are divided into major ones, for example, GBP/USD (British pound/US dollar) or USD/JPY (US dollar/Japanese yen) and cross rates (in such pairs, currency exchange is performed directly, bypassing the US dollar), for example, EUR/GBP (Euro/British Pound) or NZD/CAD (New Zealand Dollar/Canadian Dollar). Apart from this, there are also exotic pairs in which rare currencies are present, such as the African rand, for example, or the Norwegian krone. In total, 33 currency pairs are available for NordFX clients to conduct transactions.
In addition, you can make transactions with digital currencies. The principle of trading here is the same as in Forex. Trading operations can be carried out with any of 11 cryptocurrency pairs, including the leading cryptocurrencies against the US dollar: BTC/USD (Bitcoin), ETH/USD (Ethereum), LTH/USD (Litecoin), EOS/USD (Eos), XRP/USD (Ripple), etc.
The principle of stock trading is quite simple. You are not buying the stock itself, but a contract for the difference (CFD). That is, ownership is not transferred to you. You kind of make a bet with a broker whether a particular stock will rise or fall in price. And it gives you the chance to make a profit both if its value soars to heaven and if it collapses to zero.
Broker NordFX offers a large selection of CFDs on shares of nearly 70 companies, including such world-famous brands as IBM, JP Morgan Chase, Coca-Cola, Mastercard, McDonalds, Microsoft, Twitter, UBER, eBay, Alibaba, Deutsche Bank and many others.
Trading in Precious Metals and Oil
NordFX also offers the opportunity to profit from the difference in quotations of the most popular metals and raw materials. And if gold and silver are more often used as insurance assets to hedge risks, oil prices, on the contrary, are subject to fairly strong fluctuations reaching hundreds of percent. This combination with the addition of trading positions for stocks, currencies, and cryptocurrencies, allows you to form the most balanced investment portfolio that brings maximum profit with minimum risk.
What if I Do Not Know How to Trade Yet?
The overwhelming majority of those who come to online trading do not have relevant experience and generally know practically nothing about the financial markets. To help novice traders, the broker NordFX has posted a lot of useful videos and articles on its website. on the topic of Forex trading. In particular, you can learn about the basics of trading, strategy creation, market analysis, wealth management, and risk. Finally, a whole section is devoted to how to use the MetaTrader 4 (MT4) trading platform, on which, in fact, all transactions are performed.
It is clear that before buying a particular currency or another asset, it is necessary to analyze for the development of a trend, that is, to predict where the quotes will go, and, accordingly, open a buy or sell transaction. There are two types of analysis here: technical and fundamental.
Using the MetaTrader 4 (MT4) platform, you can carry out technical analysis of quotes using all kinds of built-in indicators and various charting tools. MT4 has a built-in news feed as well, which allows you to quickly learn about important macroeconomic events and, accordingly, perform another type of analysis, fundamental. In addition, you can find regular analytical reviews and forecasts for the main financial markets on the NordFX website, for which the company has even been awarded the prestigious international award as Best News & Analysis Provider.
Also, you will find an economic calendar on the website of this broker, thanks to which you will know in advance on what day and at what time certain economic events, decisions of Central banks or important macro statistics are expected.
How to Profit Without Trading Yourself
You can make money on financial markets not only by trading yourself. Clients of the broker NordFX are also offered various services with the help of which they can make a profit without even having an idea of what market analysis is and without making a single transaction on their own.
For this purpose, the broker offers PAMM accounts (Percent Allocation Management Module) which is a special platform where a client can choose an experienced and successful managing trader (one or more) and entrust them with managing the client’s funds.
In addition to PAMM, CopyTrading service is also offered. Here you also choose an experienced trader as your “partner”. But, unlike PAMM, you do not transfer your funds for management, but you copy on your account all those transactions that the trader you have chosen (the provider of trading signals) makes on their account, in a fully automatic mode. Moreover, you can work with one or many signal providers.
The use of robot advisors is another opportunity to profit from trading in financial markets, which does not require special knowledge. A robot advisor is a computer program that will make transactions for you according to the algorithm embedded in it. You just need to purchase or download the robot free of charge on the Internet, install it on your MT4 platform, after which it will trade for you 24 hours a day.
There are nuances here, however. Thus, NordFX does not offer specific robots to its clients. Accordingly, all of these will be third-party programs. Therefore, you need to test them and optimize their settings (for example, the volume of transactions, levels of stop orders and take profit) before working. This can be done using a special tester already built into MetaTrader 4. Also, any Expert Advisor needs not only one-time optimization, but also periodic monitoring.
How to Increase Your Profits Tens and Hundreds of Times
Trading conditions, margin and leverage are three things that can multiply your income from trading in the financial markets.
First, you need to be mindful of the trading conditions. All brokerages charge a spread fee for ongoing trading transactions. This is their earnings, and for some such commissions are quite large, while for others, like NordFX, they are minimal, which allows clients to earn even with insignificant fluctuations in quotes.
As for the leverage, in fact, this is a loan that the broker provides to its clients automatically and without any collateral, and which, like in NordFX, when trading currency pairs, can exceed your own capital 1000 times. That is, having in your account, for example, $100, you can make transactions of up to 100 thousand dollars. Accordingly, your profit grows too. Imagine that your deposit is 10,000 USD. In this case, with the help of such leverage, for only 100 transactions your turnover can reach a billion (!) dollars, and this is already a very large business on an international scale.
The same goes for cryptocurrency trading. With NordFX margin trading, you can open buy or sell positions with just $150 in your account. This despite the fact that the price of bitcoin is above 10.000 USD now!
And most importantly, everything that is described above is not a fairy tale or fantasy. This is a reality that is available to everyone. And you don’t have to graduate from Harvard, work on Wall Street in New York, or have a start-up capital of millions of dollars to open your way into the world of finance. Once again, you need just an internet-connected computer or smartphone and… $10. This is the minimum deposit in order to become a client of the NordFX brokerage company.
To achieve a lot, you can start with a little. The main thing is to start.
Tech innovations driving businesses to new success
Here, we have mentioned some significant tech innovations that help businesses to get more success.
In the last few years, the development of new technologies has changed the way we function in our daily lives. The things that were quite impossible to think about a few decades ago can be done within seconds with the help of newly developed gadgets. New technologies have made easy and quick communication as well as it has transformed the way of thinking and processing information. This evolution of new techs is also creating a revolution in the business sectors. Most of the people are diverting to online businesses and these tech innovations are necessary to maximize the chances of getting success. The technological revolution has also impacted offline businesses as well. Here, we have mentioned some significant tech innovations that help businesses to get more success.
Innovative Business Management Systems
Whether it is an online business or the offline business, such business management systems help businesses to manage all the necessary information. They automate the information processes and simplify it. The management of finance, marketing, sales, purchase, and all the other important processes of any company to function have become easier thanks to ERP.
ERP (Enterprise Resource Planning) is in trend as well as a basic necessity for businesses. Such systems allow businesses to have a centralized database and make it easier to have proper control and the security of the products or the services. The proper arrangement of data and the information allow better decision power.
The introduction of mobile phones and similar devices with internet connectivity has impacted the behavior of people as well as businesses. In order to create a communication channel with potential buyers or customers, mobile applications are being developed by businesses. These days when people use the smartphone more than other devices, businesses are reaching their customers through such apps.
In this category, we can take the example of online gambling. Online gambling services were initially available for computer users, but now seeing the huge target market among smartphone users, they offer a mobile application for the services to offer a customized experience. For instance, sport888 bet online offers mobile applications for mobile platforms so, their customer can have access to their betting service anytime anywhere. However, there are various things that need to be considered while implementing the use of the app in businesses. For example, the design, objective, potential profit in the future, integration of multiple services, and enriching customer experience.
Customer is said to be king of the market and that is why relations have to be maintained with all the customers. With customer relationship management systems, even international businesses can maintain relations with customers from all parts of the world. This includes three main services that are related to the customers i.e. marketing, sales, and after services.
By incorporation these systems, businesses can adapt to the complication of the demands of the new customers while improving the services for the current as well as old customers.
Digital Marketing and Artificial Intelligence
These two things are interconnected and help businesses in many ways to maximize success. Nowadays, most people use a smartphone and the internet. So, digital marketing help businesses to approach customer where they are. However, one needs to account that not all the customers can be potential customers and that’s where artificial intelligence arrives. AI technology processes the data of the consumer and helps the businesses to reach their potential customers.
For instance, when a customer wishes to buy a shoe and searches various deals on the internet, with the help of artificial intelligence, such customers can be reached by the online/offline shoe store. Apart from selling ads, digital marketing, and help the businesses to understand the target market so it can be reached with proper blogs, tutorials, news, and many other things.
The internet has changed all the businesses. Now even a small store from one corner of the world can reach customers from all across the globe with the internet. The Internet has not only bridged the gap between business and customer, but the communication channel inside the businesses has improved. With one online platform, all the employees can be in touch and share all the information. This helps in smoother and quicker functions of the business operation which eventually leads to fast success of the business. The regular updates on the services and products lead to efficient management. Additionally, video conferences for conducting meetings, interviews, and online training has benefited the business in several ways. Thus, the latest communication technology helps businesses to reach their goals quickly.
Data Management Systems
Any business has to manage a bunch of data. Earlier, it was tricky to manage such big data on physical papers. The latest data management systems do not only store the big data without acquiring physical space, but they make it possible to sort this data in a way that it can be accessed and analyzed easily in the future.
Information/data is knowledge, and it can be accessed easily and quickly with the new data management system. The proper management system can help in making better decisions for businesses as well as customers in the future.
Ecobank, Chapel Hill Denham, DBN and BOI partner on Lions’ Den to support SMEs
Ultima Limited brings the world’s number 1 business reality TV show, Lion’s Den to Nigeria.
The worlds of Business and Entertainment are set to collide as Ultima brings the world’s number 1 business reality TV show to Nigeria.
Ultima Limited, the studio behind magical shows like Who Wants to Be a Millionaire and Project Fame West Africa, is bringing another exciting reality show to Nigeria with Lions’ Den.
Lion’s Den, which is set to air in 2021, will see Nigerians across the country seek to make their dreams come alive by pitching their businesses and/or ideas to prospective and willing Nigerian investors.
The business reality TV show, Lions’ Den will be brought into the homes of millions of Nigerians with the support of Gold Sponsors, Ecobank Nigeria; Silver Sponsors, Chapel Hill Denham; and Bronze Sponsors, Development Bank of Nigeria (DBN), and the Bank of Industry.
The registration portal for entrepreneurs with businesses seeking investments is open and can be found here.
Got questions? Visit the FAQ page for more information!
Hope PSBank To Deliver Digital Banking Experience To Customers
Hope PSBank offers a competitive edge among the lot as it delivers financial services to customers with ease, convenience, affordability and access unhindered.
The management of Hope PSBank-a subsidiary of Unified Payment Services Limited and Nigeria’s premier digital-first bank has assured customers-unbanked, underserved and banked of its readiness to deliver seamless digital banking experience to them as part of efforts targeted at promoting and driving financial inclusion in the Nigerian banking ecosystem.
The assurance came during the launch of the company’s brand identity on Tuesday, November 24, 2020, in Lagos following the approval of license as a Payment Service Bank by the Central Bank of Nigeria (CBN) in August 2020.
In his opening remarks at the occasion, the Chairman, Hope PSBank, Alhaji Shehu Abubakar described the launch of Hope PSBank as one that would not only revolutionalize the banking sector but help a great deal in shaping and advancing the future for financial services generally in Nigeria.
Abubakar noted that it was heartwarming that a new bank like Hope PSBank was stepping into the fold to give banking access to millions of Nigerians including those that are unbanked.
He explained that the setting up of the bank was largely driven by the need to ensure that a vast majority of Nigerians have access to financial services.
The bank Chairman noted that its logo represents the optimism and dependability which the brand espouses.
“It is not just semantics that the name of our bank is ‘Hope’, rather this is symbolic as we bring the message of hope to millions of Nigerians that are unbanked or underserved,”, Abubakar explained.
He revealed that the payment service bank offers a unique and unparalleled experience for customers as the wallets/accounts are opened end to end without any human intervention.
Also speaking, the Managing Director, Hope PSBank, Mr. Ayotunde Kuponiyi expressed the company’s aspiration to give hope to Nigerians.
He stated that the bank is ready to redefine financial and payment services by driving inclusion through the leverage of digital technologies.
Kuponiyi added that the setting up of the bank was in line with the objective of the Central Bank of Nigeria to enhance financial inclusion
“When the inclusion rate in an economy is high, the citizens of that economy will have access to credit/finance, will be able to save, have access to insurance, grow cottage industries, employ more staff, unemployment rate is reduced, the employed citizens are able to pay tax, Government will have more revenue to provide infrastructure and this will generally improve the standard of living of the citizens,” he said.
He explained further that beyond financial inclusiveness which the bank hopes to achieve, it would serve as a platform to empower the people with many becoming agents thus leading to job creation and alleviation of poverty.
“We support Medium Small and Medium Enterprise(MSME) and Small and Medium Enterprise(SME) with our Hope Market Place by giving them an “online real estate” to display their shops thus giving them more visibility and exposing them to more consumers,” Kuponiyi said.
“At Hope PSBank, we have redfined the concept of open banking and the boundaries of competition by offering our unique financial and payment services and solutions to customers of other banks who are not required to open or maintain account with our bank. All transactions on our platforms are gladly settled into accounts of our community of users and customers with any bank of their choice”
According to him, Hope PSBank offers a competitive edge among the lot as it delivers financial services to customers with ease, convenience, affordability and access unhindered.
“This is a bank that leverages technology by bringing financial and payment services as well as tailor-made solutions closer to everyone across different channels regardless of economic or social status and location,” he added.
Also speaking, the Chief Marketing Officer, Hope PSBank, Mrs Kathleen Erhimu said the bank is unique from other players in the market “At Hope PSBank, every mobile telephone user can easily enjoy instant digital financial and payment services with his or her phone number as account number and also a means of payment across all channels – person-to-person on personal devices, web, merchants’ points of sale, automated teller machines and agency outlets. No cheque-book is required, no payment card of form factor.”
About Hope PSBank
Hope Payment Service Bank Limited (Hope PSBank), Nigeria’s premier Digital-first Bank was incorporated in September 2019 to leverage digital technologies to deliver inclusive financial services. The company believes that everyone irrespective of education, social or economic status and location should have access to financial and payment services with ease and convenience. We seek to provide the 4As – Accessibility, Affordability, Availability and Awareness of Digital Financial Services.
With Hope PSBank, every mobile telephone user can easily enjoy instant digital financial and payment services with his or her phone number as account number and also a means of payment across all channels – person-to-person on personal devices, web, merchants’ points of sale, automated teller machines and agency outlets.