Forex

How to choose a broker: tips for beginners

Published

8 months ago

August 9, 2022

You have decided to invest in securities — this means that you cannot do this without a broker: according to the law, it is not possible to trade on the stock exchange without an intermediary. Transactions can only be carried out by legal entities that have a brokerage license — banks, investment, and brokerage companies. How to choose a reliable and appropriate broker for you.

What a broker does

A broker executes orders for transactions on the exchange; prepares reports on transactions and movements of funds, counts, and remits taxes on profits. A good example is Pelliron. The broker also develops investment and trading strategies, creates asset portfolios, and offers personal financial advisors.

What do you expect from a Pelliron.com broker or other companies?

Think about why you want a broker, other than formal access to the stock exchange. It is better to choose a broker with a clear idea of your goals. For example, broker Pelliron.com will suit you for all purposes.

What do you need to pay attention to?

The license

This is the first thing to check: without a license; no company has the right to conduct operations on the stock exchange. The regulator conducts regular inspections and, if it notices violations, withdraws the license.

Reliability

Legislation strictly regulates brokerage activities, and any unauthorized action with customer assets entails criminal liability. Large brokers with a long history and serious turnover do not benefit from it. To study the rating and at the same time the statistics (the volume of client operations, the number of registered and active users) is available on the website of the Moscow Exchange.

Markets

Find out what markets are available. Find out what assets the broker has access to. For example, you want to invest in the securities of U.S. companies. You can do this directly on one of the American stock exchanges. In the latter case, the commission will be lower and the selection of securities will be larger.

If you are a beginner and haven’t yet figured out exactly which securities you need, you can invest in ETFs (funds that hold a portfolio of assets and trade them in pieces) or in a ready-made portfolio with predictable income and risk levels.

Rates

Some people want to earn from intraday currency trading, while others want to buy bonds and leave them untouched for several years. Portfolio composition, returns and fees depend on the choice of tariff. If you are just starting to invest, choose the easiest one.

The broker earns a commission on the transaction amount, and the commission will vary depending on the tariff. Brokers can also charge a commission for depositing and withdrawing funds, using a trading platform, voice orders for a transaction and so on.

Training

If you are new to the securities market, a little education on the subject will be useful to you. Many brokers offer webinars, seminars, and personal consultations. Classes may be paid or free, and sometimes brokers offer promotions and give away paid classes. You can practice on a demo account.

Advice

Talk to the broker’s support service before opening an account. Pay attention to how quickly and informatively they answer you. For example, the Pelliron review states that this company cares about its clients and tries to quickly resolve any questions they may have. A prompt response is not just an important part of the company’s image, but also a guarantee that problems are resolved quickly.

Briefly

Before choosing a broker, think about what purposes you need it for, besides the obvious one — access to the exchange.
Examine the documents confirming the reliability of the broker. First check the availability of the license.
Familiarize yourself with the rates: different rates are appropriate for different purposes. Also, the amount of commission depends on your choice of rate.
Free training is a good bonus if you are a beginner.

Forex

Wall Street futures rise after the U.S. Fed meeting

Published

5 days ago

March 24, 2023

the preservation of the Fed's discount rate

U.S. stock index futures are rising Thursday, trading data showed. Markets are assessing the outcome of the U.S. Federal Reserve (Fed) meeting.

The Dow Jones Industrial Average (DJIA) futures rose 0.22% to 32,329 points, the NASDAQ high-tech index rose 0.96% to 12,828.5 points and the S&P 500 broad market index rose 0.48% to 3,989.75 points.

The Fed on Wednesday expectedly raised its benchmark rate by 25 basis points to 4.75-5% per year. The regulator noted that it does not expect the rate reduction this year, but allows it next year. U.S. exchanges were down 1.6% in Wednesday trading.

According to the CME Group, 55.8% of analysts now expect the Fed’s discount rate to remain unchanged in May, while 44.2% expect it to rise another 25 basis points. Thus, markets concede that the Fed may interrupt the cycle of hikes that began last March.

At the same time, shares of cryptocurrency exchange Coinbase were down 10.6% in pre-bid trading. The exchange this week received notice from U.S. authorities of an impending charge of violating laws.

Later in the trading, statistics on initial jobless claims in the U.S. for the week through March 18 will be released. Analysts forecast that the figure would increase by 5 thousand to 197 thousand applications.

Earlier we reported that the US budget deficit was $262bn in February.

Forex

ITB (International Trading Brachium) Broker Announced Its YouTube channel

Published

2 weeks ago

March 11, 2023

(Mahe, Seychelles-March 08, 2023) – ITB BROKER, LLC, an international forex broker, has announced that with our community growing, we believe that this will be the most effective medium to communicate with and so, we’re proud to announce the launch of ITB YouTube channel .

When a picture speaks a thousand words, How about a video?

Throughout our community building initiative, we strongly believe in video as our means of communication. Video has played a pivotal role in describing our futuristic services to our audience and in communicating our disruptive vision to potential traders or investors.
Over the next few weeks, we will be launching interesting videos on upcoming ITB features, bonuses, partnership or IB announcements and financial market expert interviews.
YouTube is a great place to pick up forex trading tips and learn how to use them in the real world.

There are a number of YouTubers that make great educational videos, perfect for beginners or those considering taking up forex trading. ITB group with over 10 years of financial experience provides you with useful tips and hints of forex trading via its YouTube channel.

About ITB

ITB Broker or ITBFX is a leading provider of online foreign exchange (FX) trading, CFD trading, and related services.

Founded in 2017, the company’s mission is to provide enthusiastic traders with access to the world’s largest and most liquid market by offering innovative trading tools, applying excellent trading platform, meeting strict financial standards, and striving for the best online trading experience in the market.

In addition, ITB offers educational courses on FX trading and Cryptocurrencies on academy section of ITBFX website.

Forex

U.S. budget deficit totaled $262 billion in February

Published

3 weeks ago

March 11, 2023

According to a report from the U.S. Treasury Department, the U.S. budget deficit in February was $262,434 billion compared to a $38.8 billion deficit in January. The Dow 30 also had problems.

Analysts at DailyFX suggested that the nation’s budget deficit for February was expected to be $256 billion. A year earlier, in February, the U.S. posted a budget deficit of $216,590 billion.

According to the GAO report, U.S. government spending rose 3.5 percent year over year last month to $524.548 billion, while revenue, in contrast, declined 9.5 percent to $262,114 billion.

Earlier, the U.S. edition of the Washington Post published an editorial stating that the new draft budget proposed by the Biden administration undermines U.S. national security and its ability to invest in the future, because it suggests a further growth of the U.S. national debt.

The WP editorial board noted that the new draft budget assumes a $2 trillion budget deficit, including due to the high cost of providing health insurance to the elderly of the baby boomer generation.

Earlier we reported that the EU has agreed to reduce energy consumption by 11.7% by 2030.