Crypto Currency trading has appeared to be one influential and money-spinning career prospect, especially for the finance graduates. Who wouldn’t like to be their own boss? Crypto currency trading has been drawing smart and intelligent finance graduates to join the platform ever since, but few had thought to give it a boost. There isn’t any dearth of crypto currency trading platforms that practice it in a poor and convoluted manner.
How is crypto currency trading gaining popularity?
Despite the technological support has ever since been improving and enhancing for Crypto Currency Trading Platforms, some are yet lagging behind the race. You being a trader have to be skeptical enough while choosing a right broker online, in case you want to trade with Crypto Currency. For Crypto Currencies being a popular asset to trade in, today, traders from all over the world are seeking out more advancements and improvement in their ways. Apart from facing technical glitches and untimely support service, traders as well wish, if they could get a better sense of the market sentiment prior to investing.
Introduced in 2009, Bitcoin was the first digital coin. Till date, Bitcoin remains as the standard that all other coins like Litecoin, Ethereum, Zcash, Ripple and Dash etc. compare to.
Crypto currency landscape is constantly fluctuating with its price rising and rising (mostly). And, for traders are often unaware of the market sentiment, they can’t really determine their revenue rate in the face of uncertainties. Technical analysis is very much essential, and you may be lacking the professional expertise. Think of a crypto currency broker, who can help you in such a scenario. A crypto currency trading broker not only just allows you to trade your digital currencies, but guides you thoroughly on varying market price and potential revenue. Here’s a set of difficulties that traders generally face while trading crypto currencies.
Sudden rise in the trading cost
Brokers, offering crypto currency trading platform, basically charge an amount as exchange commission fee. Traders never know when that fee increases on the spur of a moment and they have to share quite a substantial percentage of their income. Apart from exchange fee, there are other charges too, such as for those who are holding the trade overnight. All these make crypto currency trading costlier after certain time.
Lack of crypto currency exchange options
While you are directly trading crypto currencies, the traders are typically allowed to choose an exchange they prefer to trade. Having over hundreds of crypto currency exchanges available in the market, the value of digital currencies happens to vary from one exchange to another, though it’s the slightest. However, the very slight difference sometimes affects the profits, if trader is trading as a risk-taker. With a not-so-popular crypto currency trading broker, traders are limited to only one or a couple of exchanges it uses, stripping them off the choices.
SimpleFX – The crypto currency broker with a difference
SimpleFX, operating as a crypto currency trading broker and a trader at a time, stands out as the most robust online trading provider. They offer trading with all leading digital currencies including Bitcoins, Indices, Litecoins, Gold and other precious metals. With the increasing number of traders joining crypto currency trading day in and day out, it’s the high time traders and forex trading brokers come up with a better method, and an advanced solution. SimpleFX experts pondered a lot over it and came up with simpler and more transparent trading conditions for the people. For SimpleFX to be traders itself, they can easily differentiate between the needs and wants of a beginner and an experienced trader. Simplification and expedition of the process along with no technical glitch – what else a trader would be happier about? And this is what SimpleFX offers to its users. Here are the salient features of SimpleFX along with the reasons why it should be your next pick for best crypto currency exchange rates and bitcoin price change:
- First of all, there is no initial deposit requirement to open an account with SimpleFX, as this best crypto currency exchange leverages up to 1:500 and has modest spreads. They have set their trade size to 0:01 (by default) on their proprietary web platform. This apart, SimpleFX has its traders enjoy 15 base currencies and anonymous registration, especially for Bitcoin traders. It offers an incredibly vast range of trading tools to the users so that even the uninitiated will feel comfortable on trading for Bitcoins, Ethereum, Litecoin, Zcash and other digital currencies on this leading exchange for crypto currencies.
- It offers perhaps the best trading conditions for the traders. Unlike many in the industry, SimpleFX comes up with fixed competitive spreads for the currency pairs, as compared to variable ones that don’t expand at the time of new releases. However, this is not exactly the case with SimpleFX. Its spreads remain as little as 1 pips for the EUR/USD pair. Besides, traders need not to pay any commission fees.
- Traders enjoy maximum leverage, but how? It’s though a very obvious thing that leverage depends upon the trader’s account balance. However, thing is a little different with SimpleFX. As compared to other alt currency trading platforms, SimpleFX’s leverage level is pretty much as follows:
$5, 000 and below = 1:500
$100, 001 and above = 1:100
- Wide trading platforms: While a majority of advanced traders prefer to download MetaTrader 4 Platform, SimpleFX is happy trading with proprietarily-built web-based platform. They offer an extensive range of trading merchandise and also enable you to get started immediately in crypto currency trading. This very platform is, moreover, equipped with intelligent charting tools, FIFO (hedging) and on/off button to enable one click trading.
- Simple and streamlined payment method: This is the most talked about feature of SimpleFX – Easy deposit and withdrawal. Multiple payment modes are available to the traders on SimpleFX that include Bank wire supply; e-wallets; debit/credit cards; and crypto currencies: Litecoin and Bitcoin.
In addition, SimpleFX offers Bitcoin CFDs too. Bitcoin CFDs are to track the performance of bitcoin in the market. CFDs require not much, but a lesser deposit, allowing traders to trade as much bitcoins as they can with maximum leverage.
As we have discussed quite a lot about how SimpleFX makes a better choice as a crypto currency trader and broker, why not move on some of their traders’ reviews now? After all, a business’ authenticity is evident through what their users say about it. Here are the reviews of SimpleFX provided by some of their users>
“Before I speak anything else, I would like to quote that SimpleFX can really give you a fresh experience of trading. I am quite an old partner of them, trading Bitcoins with no troubles at all. Although they lack some features, but that does not bother me anyway, neither will do any frequent trader. What it provides is usually more than enough. Easy to deposit as well as withdraw.”
“I am simply in love with the way I could trade Bitcoin with SimpleFX. They are the best out there. Unlike many brokers with MetaTrader4 Platform, they use proprietarily-built web-based trading platform, which itself is equipped with multiple tools. The result is – your trading gets really fast coupled with several possibilities.”
Like these, numerous more traders are talking about their experiences with SimpleFX. You can check them out on the internet.
In addition to this, many are yet wondering why Crypto currency trading is more advised than Forex trading. So, here is the bigger picture –
You need no more than an hour to start trading crypto currencies, which is very unlikely of the traditional Forex trading. Right from account opening until you finally deposit a hefty amount of money, Forex trading takes several weeks to get started. A wait until you receive sign-up forms and access code just literally kills you. Whereas, crypto currency trading is easy to start and easy to leave. There are some brokers as well, who allow traders to start trading even with $1 and enjoy competitive spreads. Having smaller spreads means, making no loss (nearly) while exchanging. On the contrary, Forex, apart from the pair EUR/USD, charge higher spread after you exchange, making you loss nearly 0.018%, which is significant enough.
Spread analysis at a glance: The spread of EUR/USD looks quite like this –
The bid and ask are 1.1597 and 1.1599 correspondingly as of 08-11-2017, making the spread 0.0002. To calculate in a percentage, it becomes 0.0002/1.1599 = 1.724%
Maximum leverage at Crypto exchanges
Although you have the choice to use leverage on Forex too, but leverages at Crypto exchanges are more satisfactory. Leverage trading means trading an amount, which is not at your disposal. Usually, Crypto currency exchanges provide a leverage of 50:1, which means, for each dollar, one can get a substantial amount of buying power. Other than this, there is one more concern that a new trader must care for – choosing the right trader. Unless you trade smart, you can’t make the most of your profession.
Crypto currency trading is a strong alternative path to join Crypto-World. Neither does it require mining system nor investing a hefty amount in cloud mining or bitcoin HYIPs, which have high integrity risk.
Crypto trading in a nutshell
The world has seen crypto trading as a favorite money-spinning platform. Many coins, especially bitcoins usually quadruple their price or value in less than a week. If we now speak about last week, Bitcoin price skyrocketed upto $7395.94 at 1 Bitcoin. Breaking its own record, the market got to see a hike of 400% in its total market price. The investors say, it’s the volatility of Bitcoin (especially) that draws investors in flock. Of all Crypto currencies, why Bitcoin is gaining more popularity is because it keeps quadrupling its price quite frequently, owning large investor-base worldwide.
Things you should consider as a beginner in trading
Amidst such highs and rise, you have got to be cautious as well. There are a lot of fake coins, circulating the markets. Chances are very high for you to be falling for the wrong one and stand a loss. This is why getting in touch with an experienced and renowned trader or broker like SimpleFX is imperative before you start trading. It’s a highly sensitive market and you will never know, but the price will go up in an hour and you will be trading at the old price. To keep yourself at bay from fake pump and dumps, ponzis and schemes, first you need to learn differentiating.
By joining SimpleFX, you will get access to see who’s actually playing and who’s feigning around. Plus, you will also get advantage others just wish, if they had. It’s quite essential for an unitiated trader to know which crypto-currencies are scams and which have the real potential to skyrocket the value just as Bitcoin. Remember, it’s a journey in which you got to find real opportunities for your own rise and safety.
Traders should be careful about where they are investing and a beginner needs expert assistance throughout. Remember, you better not invest, what you can’t afford to lose later. SimpleFX, being one of the robust online trading platforms, will hold your hand throughout the process like a parent. By offering trading options ranging from Litecoins, Bitcoins, Indices and precious metals with Forex CFDs, SimpleFX simply stands out.
Unlike many on the racing track, their mission is very much simple like their process motto – “Keep it simple.” Having traders complaining about lengthy verification and complicated joining and withdrawal process, SimpleFX considered brining a real change into the landscape. With instant account opening and no minimum amount requirement for deposit, they are doing business with thousands of traders every year.
Finer questions to ask your broker
Before finalizing a broker, ask them the below questions:
How are you hedging?
This is important for you to know because as a trader, you should know risk management policies of your broker. Crypto currencies being extremely volatile, unhedged broker is prone to major losses incurred by the traders.
What are the weekend hours like?
While crypto currencies are available during the weekend, your broker may not. Ask them if they operate on weekend so that you can respond to crypto currency changes during the weekend.
What about commission and trading on margin?
Margin conditions with crypto currencies are significantly more than forex or CFDs. So, leverage is high. Margin rates for the traders will depend on their risk management and trading strategies subscribed to.
Are there short sales too?
Shorting is important for many traders and its lack can prove to be a deal breaker. Many brokers offer long sales only as few hedging solutions are available for short trades.
Here’s why SimpleFX: Concise and precise
They are the traders themselves, which further helps them understand other traders’ needs and security concerns quite closely and subtly. Crypto currency to be simple was very much important, because of increasing scams and fraudulences. The simpler and easier, the safer!
Here are few more differentiating features of SimpleFX that make it stand apart:
- Other than liquidity, simple execution and best pricing
- Cutting-edge crypto trading technology
- Wide platform, many tools
- Assured deposit protection fund
- Finally, round-the-clock trading, i.e. 24/7/365
Benefits of joining SimpleFX as a trader
For finance graduates, who are ardently looking for a prosperous career in trading, SimpleFX makes the best choice. Not only because they have been in the industry for years now, rather that they are acting both as traders and brokers. It’s very much essential that you learn in the hand of a genuinely experienced crypto trader. Understanding spreads and commissions during liquidity gap, best hedging techniques, commissions and margins will be quite difficult unless you get along with someone having extensive experience in the field. Remember one thing that trading is for those, who don’t invest what they can’t afford to lose. Determining the right time is a matter of research and guidance.
Moreover, doing business with SimpleFX, their clients have always come up with encouraging words. There is value and respect, not just technical facilities and procedural benefits.
Choosing the right broker is important
While online brokers may have a couple of decades experience, crypto currency ecosystem is still evolving. So, if you are accustomed to trading on the charts in the classic economy or through mobile apps, a broker with expertise in crypto currency, like SimpleFX is the way to go.
Unlike the cumbersome interfaces of exchanges, SimpleFX is designed to provide immersive trading experience to the users. SimpleFX ensures that your privacy is protected to the maximum and made fool proof. The website developers have devised the website in a manner that ensure maximum safeguard of personal information of the registered users who trade on SimpleFX.
Volatility is crucial for day traders as it creates small trading opportunities which they try to capture by risking holding for long term. For them, crypto assets prove to be a viable option.
Crypto currencies allow the people to buy, trade and invest without the involvement of banks and other financial institutions. Crypto currency doesn’t have a physical form, the digital asset remains as data.