Why Becoming An Online Trader In 2019 Is An Incredibly Wise Move

2019 is turning out to be a great year for trading, be it stocks, currencies or options. For many, transitioning into the trading lifestyle has been a milestone to mark in their lives! A lucrative field, online trading offers comfort, returns and stability. On the outset, many tend to believe trading to be a risky endeavor, which at times it is. However, backed by a strong approach, there's little that can stop you.

You can get started with online trading with a laptop and a good broker to guide, and here are 5 reasons you should: 

1) Work From The Comfort Of Home: 

The biggest and most alluring perk of online trading is that you get to work from home! Unlike arduous jobs that will demand you to travel far and wide, online trading will make sure you are comfortable where you stand, or sit. 

With a laptop, internet connection and a proper trading platform, you can get up and running. 

2) Starting Off Is Cheap: 

Rumors might have made you believe that to commence with, you need thousands of dollars. You don't! With sums as small as a few hundred bucks, you can trade easily and bank the rest on leverage. 

There aren't any extra costs for travelling or commissions either; so the money you make is yours alone!

3) You Are The Boss: 

Working under others isn't really preferred by everyone. For those who want to be their own bosses, online trading is undoubtedly the best. 

Here you make all the calls, be it deciding when to work, on which grounds, and how to! 

4) Trade From Anywhere: 

You can work and enjoy a vacation at the same time! Even on a lush beach in Mauritius, all you need is an internet-equipped laptop and a platform to work on, and you're all set to rock online trading in South Africa!

5) No Meddling Middlemen: 

Like stated earlier, you won't have to pay anything except the usual fees, because there are no middlemen! With the nominal exceptions of spreads and platform charges, you can take home everything you make.

Online Trading In South Africa is today, one of the most rewarding ventures to pursue. Be it saving for a retirement plan, or for making an extra buck - trading can be the perfect career option for you! Sign up with WesternFX today and get started with trading commodities from home. Working on our stellar platform and employing our cutting-edge strategies will ensure you bag all the wins! 

Forex Trading 101 - The Basics Behind Brokerage And How It Works

Forex brokerage is a world in itself within the currency trading market. On the outset it always seems as though only the trading fields are competitive; however, brokers face just as much competition in today's markets. Truth be told, the competition is intense to the point where some brokers end up scamming novices to make quick money. This is why it is important to know how to differentiate a genuine broker from a scammer!

How Brokers Make Money

Spreads are known to be the prime source of a broker's income. The difference between the buy and sell bid is what they earn, or so everyone thinks. Several brokers trade against their own clients; these types of individuals are known as market makers. Initially, traders are made to think that they are trading against other Forex players, while it is actually their broker on the other side! Novice traders fall into this trap and end up losing a good sum of money before quitting.

Straight-Through Processing

STP brokers follow a vastly better model when compared to market makers. These traders make money off of the spreads, and here you are trading against other traders rather than the Forex Brokers themselves. This is a win-win for you because the broker will not be against you in this scenario! Liquidity providers give the market rates and with a small added markup, STP brokers charge their spreads.

True ECN Brokers:

The vastly used brokerage model is the true ECN. Much like STP, traders here deal against other traders, with the only difference being that instead of earning through spreads, brokers earn through commissions charged on each trade individually. There is no separate spread demanded! Their transparent and minimal/zero-spread nature makes them the best choice for traders new and experienced.

A Forex broker should want you to improve on your trades and help you grow. Several in the industry today scam brokers with false claims of profits and lead them into losing trades on purpose. This had made finding a good broker a challenge for traders worldwide. Being an extremely volatile field, Forex can topple your trades and effortlessly throw you into losses; without a reliable broker to work with, currency trading is nightmarish!

Don't settle for the average, and don't fall for false claims - sign up with the world-class Forex broker, WesternFX, and master the art online trading in South Africa. With us there are no hidden costs, no claims and promises; we strive to serve you the best of brokerage possible, equip you with adept platforms and back you up with proven strategies. Open a Forex Demo Account with us and try for yourself!

A Beginner's Guide To Getting Comfortable With Online Trading

Do you know that today you can trade from home with just a laptop with an internet connection? This is the beauty of online trading. You can start your career trading any commodity from anywhere in the world! Let this not confuse you with the fact that the risks are constant, irrespective of whether you trade physically or online. And beginners always have starting troubles! Understanding how the markets work takes time; considering there are several markets today, it means there's all the more knowledge needed!

This generation gets to avail a number of technological benefits the previous ones didn't have. In the field of trading, there are signals; trade bots and a plethora of strategies that you get to apply in your trades today! With the basics learnt, anybody can start trading today.

For beginners, the first information is pertaining to the various markets that exist, and here are 3 of the most prominent:

1) Stock Markets:

As a stock, share or equity trader, you will be holding, buying or selling stocks of securities.

2) Foreign Exchange:

Forex Trading is the simple art of exchanging one currency for another, and profiting from the difference in value.

3) Options:

Without owning the underlying asset, you trade contracts for buying or selling said asset at a predetermined price.

The First-Most Important Element - A Trading Strategy:

The trading plan you implement will govern the outcome of all your trades, and also set the standard for your trading career. Strategizing is an art, no matter which market you take into consideration; and it is no easy task. From picking security to studying its past behavior, speculating the future behavior up until selecting the most strategically profitable entry and exit points - you will have to work on multiple elements to craft a good trading plan.

What Not To Do As A Beginner:

Following the rules is always a boring task. While not many like playing by the book, in the field of online trading it is absolutely essential to do so. Starting off, you will be venturing into the wilderness of trade markets, and discipline will be immensely important. Here are 3 things you should avoid:

1) Jumping Strategies:

The most tempting and easy move to make when your trade plan doesn't work immediately is to jump and change to a new plan. Give time to your strategy; nothing happens overnight! Only if a losing trend is spotted should you change.

2) Avoiding Stop-Losses:

Without proper stop orders in place, losses will blow your account up. Always place them, not randomly, but precisely; doing otherwise will cause you to miss out on profitable positions.

3) Lack Of A Solid Plan:

The biggest mistake beginners make while online trading in South Africa is not trading with a plan. As much as adventure thrills, it can prove costly all the same. Always keep a good strategy in place, and cover all the elements of trade.

Your career in Online Trading In South Africa can blossom tremendously when done right! Get the best of brokerage to assist you and take your trades to the next level. Call WesternFX today, and master the art of online trading. With our experts guiding you, you will transition from a beginner to a pro in no time!