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How to Choose Your Online Trading Platform

by Jeremy

If you decide to invest in the FOREX market to buy and sell currencies, you have no other choice than to do it through a online trading platform. One of the first things you need to do when you decide to become a trader is to choose the best online trading platform.

What should you be mindful of when choosing a trading platform?

There are a lot of different factors you need to check before making your decision, but here are the most important ones:

Dealing Desk/No-Dealing Desk broker. Some might argue about the importance of knowing the difference between these two kinds of brokers and understanding if your broker plays the role of market maker. Let’s not spend too much time on this one: both are making money on the Spread – the difference between the ask and the bid price.
Fixed/Variable Spread. Competitive spreads are generally fixed, but vary by types of currencies (majors, minors, exotic currency pairs). You can also find the spread, depending on the characteristics of your own account type.
Downloadable/Non-Downloadable trading platforms. The format is important depending on how often and from where you trade. Web-based platforms can be accessed from anywhere, while downloadable platforms are stored on a specific device.
Programming languages. Different trading platforms are classified in different types according to the programming languages they use such as Metaquotes, ActFX, Lua etc. One of the most well=known FOREX trading platform is MetaTrader provided by MetaQuotes Inc.

How to Repair Your Finances as a First Priority

by Guest Contributor

Financial Management is not an academic subject. No one gets exam marks to indicate how they are progressing with the subject. It is a matter of making good decisions and learning from any mistakes which hopefully are not too costly. The USA consumer finance statistics are fairly disturbing. There are too much credit card debt and certainly insufficient retirement savings in society. Some people must be stressed every time they open their credit card statement or read about the Social Security System’s problems and the fact that an insufficient number of people are saving enough for a comfortable retirement. The sooner you get into the habit of saving and spending sensibly the better your chances of living a trouble-free future. … Read more

This Is One Apple That May Not Keep The Doctor Away

by Guest Contributor

While the internet is abuzz with news of the imminent iPhone 7 launch – boasting, among other things, the end of the Headphone jack that we have all come to love, waterproof abilities and an improved camera – you would be forgiven for leaving mouth agape and light-headed at the ‘prescribed’ price tag at which the device will be offered to the UK consumer market.

As traders and spread betting companies will be well aware, the Pound has taken a rather intense beating thanks to the successful Brexit vote, and while recent sentiment has been positive in the market place, it seems that Apple has decided to take no prisoners when it comes to their latest release.

While the US has seen limited changes to their original price tags, the loss of a 16GB version means that the entry model for the iPhone 7 is now £599 and their top spec version is £799. Should you opt for the ‘Plus’ option instead however, you can expect to fork out even more, spending somewhere in the region of £719 to £919 dependent on your choice of Internal Storage space.

Riding the Wall Street Wave: Ways to Succeed in a Volatile Market

by Guest Contributor

Tips and Hints for Your First Stock Market Investment

Very few things in life stay the same for too long and you can certainly apply that philosophical view to financial markets, where there is often a snooze-you-lose mentality pervading many trader’s thoughts.

The way silver prices are currently reacting to market conditions is a case in point, and you can read the full article on MoneyMorning.com to get the lowdown on that situation. Volatility in many different markets is often only a breaking news story away. So, how do you successfully ride the Wall Street wave?

Timing the market dips

Volatility can bring trading opportunities, but if you want to know how to time the market dips successfully, the simple answer is that you shouldn’t even try, unless you plan to relieve your bank balance of a few extra zeros.

You might get lucky and execute the perfect trade, buying at the lowest entry point and then watching the stock price climb again shortly afterwards, but the point about timing the market dips, is that much of what you achieve will be down to just as much luck as judgment.

The investing mantra that you would do well to keep in the forefront of your mind every time you are tempted to profit from a breaking news story, is that in the long-term, consistency over immediacy will give you a much better survival rate and allow you more chance to post solid gains.

3 Internet Business Ideas You Can Try Right Now

by Guest Contributor

If you’ve ever tried to list all the ways you can make money online, you probably know that there’s no way to even scratch the surface. Internet business ideas come in droves, and every day there are more ways to monetize your presence on the web.

From being Santa Claus for kids to running an affiliate marketing business, you can put just about any talent or interest to work online. Here are 3 Internet business ideas that you can try right now:

3 Internet Business Ideas You Can Try Right Now

1. Sell Information

Do you know how to do something? Are you an expert at finding the perfect hunting spot? Do you play an instrument? Have you kept your happy marriage going for multiple decades? Do you make the best fried chicken, hands down?

Any type of information can become a product to sell if you package it properly. You can draw from your career – maybe you have an advanced degree that isn’t being put to good use in your job. There is nothing stopping you from writing an eBook or creating a video that teaches others what you know, and selling that material.

Taxes for Binary Options Traders: Know What You Owe

by Guest Contributor

Yes, taxes rank as one of the most hated things in life, but there’s really no getting out of paying. For US citizens, if you earn more than $600 in a fiscal year, then you owe the government a cut of your earnings. That applies to all sources of income, whether you’re sweating in a mechanic’s shop or making money through binary options trading. How are taxes for binary options traders assessed, though? What are you looking at in terms of tax liability when everything is said and done?

How to Report Your Earnings

Hopefully, you’ll be earning money with binary trading, rather than spending it without any return. That income must be reported each year on your taxes. You have two choices as to how you’ll report your earnings to the IRS – you can opt to call it general income, or you can classify it as capital gains. However, it’s better for compliance with the IRS to report any profit from the sale or trade of an asset as capital gains (short-term gains). Your earnings will need to be listed on Form 1040 D.

With that being said, if you’re a full-time trader, your income will need to be reported under general income rather than capital gains. That offers something of a tax break depending on how much you earn, of course. Make sure to clearly state where the income came from, and the total amount you earned from your trading.

Taxes for binary options traders working with a broker are actually a little easier. The broker is required by law to report your earnings to the IRS. In fact, your taxes are deducted from each trade as you go, so there’s little worry that you’ll be hit with a huge tax bill at the end of the year. It’s closer to the way taxes are taken out of a weekly paycheck than the way a small business owner files his or her taxes each year.