How To Choose The Best Broker For You

Published on: 08 August 2018 Last Updated on: 08 August 2019

Choosing the right Forex broker can make a big difference in launching a successful investment career in the trillion-dollar forex market. However, choosing the best forex broker is no easy task given the overwhelming number of brokers all gunning for people’s money at any given time.

1. Types of Forex Brokers :

When it comes to online foreign exchange trading, an important consideration is opening a trading account with a reputable forex broker. There are three types of forex brokers ranked based on how they handle transactions and how they execute market orders.

No Dealing Brokers :

As the name implies, No Dealing Brokers lack a dealing desk and instead, strive to offer the best composite quotes from multiple forex quote providers. In this case, providers will post their best market prices that NDD forex broker will have to choose to execute transactions.

NDD brokers charge a commission or widen the bid-offer in order to make profits from trades entered by traders.

Market Makers :

A market maker is a type of forex broker that offers a two-sided customer market. In this case, the broker always ends up taking the other side of trade depending on the side that a forex trader has taken. In case a trader makes a buy, the broker is obliged to take the sell-side.

Electronic Communication Network :

An ECN forex broker provides a platform whereby forex traders from all walks of life regardless of skills congregate to place trades.

2. Features of a Reliable Forex Broker :

Regulatory Compliance :

In a sector where the number of international forex brokers can be overwhelming, scrutinizing regulatory compliance can be the only way of ending up with a reliable forex broker. Going through forex brokers reviews do not a sure way of ending up with a reputable broker as such reviews can be manipulated.

Highest rated forex brokers are always in compliance with the highest level of regulation depending on jurisdiction. For example in the U.S, regulated forex brokers are members of the National Futures Association and are registered by the U.S Commodity Futures Trading Commission as well as the Retail Foreign Exchange Dealer.

A flashy forex broker website cannot be used to rate a broker. Trading with a regulated broker is essential if one is to rest assured of the security of their deposits as well as the integrity when it comes to trade execution.

Trading Platform :

The best forex trading account is one that comes with a trading platform that is pleasing, easy to use and has a variety of indicators and tools for technical analysis. Legit forex trading companies offer trading platforms that have clear-cut buy and sell buttons. Some go the extra mile and provide panic buttons for closing all open positions at once.

Conversely, trading with a forex broker offering a poorly designed platform can lead to costly mistakes such as opening a trade when one intended to close or going short when one meant to go long.

Customer Service :

Highest rated forex traders come with a robust customer service team that is always on dial any time of day to address forex trader’s needs. When choosing a forex broker, it would be essential to give them a random call just to get an idea of the service they are likely to offer once an account is opened.

3. How to Identify a Good Broker :

A good forex trader is one that charges lowest transaction costs when opening and closing trades. Spread and commission charges can significantly eat into one returns if caution is not taken.

Legit forex trading companies allow people to deposit and withdraw funds hassle-free. Any broker that comes with restrictions on when one can withdraw or the amount of money one can withdrawal should be a big no.

Execution of trades is another aspect that one should always pay close attention to when selecting forex brokers. Under the normal market condition, a forex broker should allow trades to get filled, at or very close to the market price on the screen.

Going through forex broker reviews is of utmost importance prior to opening a forex trading account. Such reviews provide clear-cut information about the kind of forex trading service one is likely to experience based on other forex trader’s experience. In addition, trading with a regulated forex broker is a must.

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How Promotional Merchandise Can Change the Way You Do Marketing

Promotional merchandise has had a long history in brand marketing. Companies from all over the world see the impact and effectiveness of this useful tool to create and promote their corporate identity. If you are looking for a way to enhance your business, you can use promotional merchandise to boost and revitalise your marketing initiatives. You have a wide array of choices when it comes to deciding what kind of product you want as promotional merchandise. You can use wearable items such as caps and shirts, or you can use non-wearable ones such as calendars, pens, and umbrellas. No matter what your company does, or where it’s located, you can benefit from promotional merchandise. There are a variety of ways you can use these items to your advantage. Here are the ways it can change your business: Different Ways Promotional Merchandise Can Change The Way You Do Marketing These are some of the factors you have to take care off while you want to increase the promotional merchandise of your marketing technique. Do not make your choices in grey while improving your organizational status. 1. Increase visibility You will have a broader reach by using promo merchandise because you will be calling attention to yourself. It will lead to an increase in visibility,and it will undoubtedly result in increased brand awareness. Hence, by using promo merchandise, you don’t need to resort to advertising or more expensive marketing gimmicks to attract new clients. 2. Promote your brand Promotional merchandise will give your brand a stronger image and identity. You will gain more credibility and generate brand love faster with these on hand. 3. Build loyalty Who doesn’t love freebies? Promotional merchandise will earn you the devotion of your past customers and potential clients. It is no secret that every customer wants to feel special. When you make them feel valued by trying your best to give them the royal treatment, they will come to love and rely on your brand to provide them with what they need. 4. Make effective sales Promotional merchandise gives you the chance to communicate with potential consumers effectively since you have their complete attention for a short while. You can make your sales pitch without boring them or losing their interest with promo merchandise as giveaways. 5. Increase market demand There will be a surge in sales since promotional merchandise increases brand love. You can expect that you will get a lot of pre-orders when you start rolling out your promotional merchandise. 6. Increase customer base Promotional merchandise can guarantee that you will have a wider market share. Since you are going to be more visible, you will become more well-known and popular than your competitors. 7. Increased profit and business growth Of course, when you are gaining more attention, you will clearly see an increase in your earnings. Promotional merchandise is worth the cost to have it made. And, since the items are cheap, they won’t put a big dent in your wallet. If you are experiencing a business slump, it might just be the answer to your problems. It can guarantee your business success in your field. These are the ways promotional merchandise can directly impact your marketing initiatives and make them more efficient than ever before. Using this marketing tool will give your business the boost it needs. Read Also: Why Do Entrepreneurs Put Up Their Drop Shipping Websites For Sale?

Oh, Crop! Killer E-commerce Mistakes You Need to Conquer

One of the most lucrative and fast-growing industries is the e-commerce industry. It has risen in popularity over the years due to the convenience and accessibility it provides for the consumers, and even for the sellers themselves. A lot of people have been trying to start their businesses from home, yet they don't know where to start, and they have no idea about the wide variety of industries they can invest in or the right tools they should use. Aside from knowing what to do with your new venture, you also need to know the common mistakes and blunders you can commit. Lapses, no matter how small, can be highly detrimental to your business. But as worrying as it all sounds, don't worry. You can learn how to spot, avoid, and remedy these mistakes with this simple guide. Without further ado, here are five mistakes you need to avoid to keep your e-commerce business bug-free and in full swing. Mistake #1: Forgetting Your Market One of the biggest and most common mistakes online entrepreneurs make is forgetting what their market looks like or who their target audience is. Aside from spending most of your time and effort in honing the perfect product, without actually creating a need for your customers, you also have to know your customer demographic. Wouldn't it be ideal to have customers before creating a product, rather than having a product beforehand and then looking for clients? All of your efforts will be rendered fruitless. Know how to target your audience or your buyer persona. A buyer persona is a representation of your customer's demographics, such as age, gender, profession, and social status. To paint you a clearer picture, if you're a designer in the print industry, you need to know your target audience before you begin selling. You won't sell cheap business cards to upper-class professionals looking to spruce up their portfolios just as you wouldn't sell overly-priced prints for low-quality products. Mistake #2: Lack of Social Media Presence The regular person owns at least five social media accounts. And on average, we spend about an hour and 40 minutes browsing these sites. Can you believe that the number of online shoppers in the United States alone will reach 224 million in 2019! Numbers aside, the stats are telling us to leverage social media in getting our brand out there. Say hi to social media. Brands are using social media marketing for some highly useful and practical reasons. Some even devise different loyalty program for their avid followers on social media channels. Some of these are because it provides: Low-cost solution. Social media platforms are an excellent way to get bang for your buck advertising and brand exposure. Customization. From Facebook Insights to Google Analytics, you can customize your pages to your heart's content and receive detailed reports on your customers' demographics and browsing behaviors. Excellent customer service platform. According to a recent study by Venturebeat, 51 percent of the respondents say businesses need to be available around the clock. If e-commerce brands are now adopting customer service chatbots with 24/7 messaging services, so should you. If you’re still not convinced, you can think of your social media accounts as your company’s very own affordable business cards, showcasing your brand and the services you offer virtually. Mistake #3: Neglecting Mobile Optimization Mobile is everywhere, and the world is accessing the internet through their smartphones. With 80 percent of internet users owning a smartphone, failing to recognize the need for mobile optimization, could mean losing half of your potential e-commerce market. Poor user experience can negatively impact your conversion rates. If you shift your focus on creating the ideal mobile user experience for your customers, you can increase your brand reputation and customer retention, and avoid losing 61 percent of your clients due to the poor website experience. As an internet-based entrepreneur, use whatever tools you have at your disposal to provide an optimized user browsing and shopping experience. Bank on your best assets and give yourself an advantage over your industry rivals. Mistake #4: Faulty Shipping Flexibility When you first decided to run an e-commerce business, I'm guessing you did for the flexibility it gave you in doing your daily tasks. You didn't have to meet people face to face, and you could make your timetable to suit your needs. You can now do all of your work at home, and nobody would have to see you in sweatpants. The same principle goes for your consumers. All customers like to have options, especially when it comes to shipping. According to research, only 1 in 4 online shoppers complete a purchase? 44 percent of cart abandonment cases are due to high shipping costs, and a whopping 93 percent of online shoppers say they'll buy more if they got free shipping. Free shipping can increase sales and improve customer loyalty. According to a study from E-tailing, 73 percent of purchasers consider unconditional free shipping as a decisive factor in shopping online. But like all other business aspects, weigh the pros and cons of your business before making a decision. Mistake #5: Failing to Measure Performance If you want to succeed in the competitive world of e-commerce, you need to know how to gauge and evaluate your performance. Take note of your business habits, particularly regarding expenses and marketing. Use your business plan as a roadmap to help you steer your way throughout your business venture. Check your statistics regularly. Update your ledger and see if your business is thriving or failing. Look at your consumer insights and keep up with the masses' latest trends. Be as specific as you can with your data. Don't inflate your figures and understand the areas you lack to improve them further. By monitoring your performance, you are helping your business achieve greater heights compared to passive management. And the good news is, there's always room for improvement, be it for you or your business. Takeaway As John Sagel said, "What we do know now is that the 'E' in e-commerce doesn't stand for 'easy.' Opening an e-commerce business can be overwhelming and nerve-wracking, but it can also be a highly worthwhile and profitable venture. There is no guarantee of overnight success. However, you can set yourself up for the best chance at succeeding. To do so, grasp the basics, learn from seasoned entrepreneurs, and watch out for their mistakes to avoid committing them yourself.

How to Deal With Debt By Doing Business Marketing Smartly?

Small businesses and startups often find it much easier to borrow the lion’s share of their capital. Finding an investor is never completely off the table, but it is not an easy task to do. It is much easier to find lending organizations, who are ready to test out the abilities of the new entrepreneurs to multiply their monies. Very soon, a time arises when the creditors expect at least a part of their invested money back. Now, this is a time most entrepreneurs know will come, but none are ready to face. It is almost always "too early" or "too sudden." Online marking, when you are already in massive debt? Gaining momentum for a new business not only takes time and effort, but it also takes some serious marketing skills. By marketing, we do not mean TVCs, hoardings, and pamphlets. Those are ancient forms of advertising that no one even notices anymore. If you are in such a situation, what you need is a stable dose of online marketing that will make you visible to your target audience. Here comes the biggest conundrum in the world. When a business is already nose-deep in debt, can it afford to plunge further in by going in for online marketing? That entirely depends on your perspective of online marketing. Your contenders and contemporaries may think online marketing to be an added expense, but you know what almost 71% of the US population is already online and looking for businesses like you. So, would you deem online marketing as an added expense or a smart investment? You need a website first : The first step of online marketing is getting your own presence established online. It means an excellent site. By nice, we mean something that's functional, professional, SEO optimized, and capable of attracting and converting traffic. It should represent your selling theme, services, and products perfectly. Building a website is no easy feat. You may have the enthusiasm to build a website from scratch, but not all entrepreneurs can have the coding skills and analytical skills needed to construct a working business website. Building a website from scratch can take up a lot of time, and it takes a lot of algorithms to perfect the buying and payment process. Either you can opt for DIY website builders like WordPress or Joomla, or you can surely approach a professional website builder. A professional website builder will again cost you a few bucks. If you are thinking of building a PHP based website from scratch, it will also take considerable amounts of time. Now, this is not going to be cheap for your business. Therefore, it is not uncommon for entrepreneurs to wonder if going for online marketing is the best way to a debt solution. The inspiration you need : So, let us tell you a real-life success story. Initially a nobody, Rank Fishkin started out with his own tech startup and went plummeting into a $500,000 personal debt. From there he is now the owner of the world’s largest SEO, social media, and content marketing website Moz that is netting about $40 million in revenue for the last seven years. That is a success story better than any fairy tale you will ever hear. Was it easy? Did it involve magic spells? No! It required endless hours of smart digital marketing strategies and intelligent investment moves. The moral of the story is: just because you are nose deep in debt, does not mean you can invest in something new. Digital marketing and social media marketing are the new ways to reintroduce your brand to a new world of potential buyers. People are waiting out there right now to hear from you about your products and services. How to find them? Finding the right people at the right time is the only “magic” you need to perform. You will need a few social media listening tools like HootSuite, Buffer, and Social Sprout. These offer a few free services. Their premium services cost less than a Grande. Of course, you will need to work on your social media account before you start listening to what people are saying about your brand online! So get started. Create a professional Facebook page, Twitter account, and at least an Instagram page. You need to post daily. Sometimes twice a day. Engage in regular conversations with your customers. Stay visible and exciting. If you ever run out of original content, do not shy away from asking your followers for some. Do it tactfully. Introduce new photo contests, quizzes, and polls with attractive rewards. That is the way to create user-generated content. It is the most efficient way to keep your page and wall filled with meaningful content every minute of staying online. Investing is not the problem, not spending in the right places is : Online marketing is an investment in every way possible. It is like putting a bait to catch the bigger fish. Using the right keywords in your product descriptions, doctoring your URL to suit the liking of the bots, and including image tags to become visible during Google image searches are all parts of that investment. Still, you may want to consult your personal financial advisor before you take the plunge. You need to be in touch with your financial reality before you can make new investments. Your financial advisor or your debt counselor should help you in understanding the debt program's details. Your current debt program may have reservations about making new investments or certain kinds of investments unless you pay off a certain fraction of the amount you have borrowed. Most businesses end up in a fiscal dead-end due to ignorance and bad decision-making, rather than investing in new marketing. We have seen companies drown because they were not adventurous enough and they have always played safe. In 2017, online marketing is not a luxury or an option. It is a compulsion you need to embrace before your competitors take away all your potential clients. Making yourself more visible on the internet will get you more sales and profit. It will help you make more money and pay off your debts faster than usual. Read Also : 5 Marketing Tips To Help Grow Your Business On Instagram Discovering A New Promotion Position For Your expanding Search Engine Marketing Business Top 8 Benefits Of Professional Business Cards

How To Choose The Best Broker For You

1. Types of Forex Brokers :

No Dealing Brokers :

Market Makers :

Electronic Communication Network :

2. Features of a Reliable Forex Broker :

Regulatory Compliance :

Trading Platform :

Customer Service :

3. How to Identify a Good Broker :

Explore Some Interesting Marketing Trends for Your Business in 2018

5 Reasons to Use Magento for Your Next Ecommerce Website

Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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How Promotional Merchandise Can Change the Way You Do Marketing

Oh, Crop! Killer E-commerce Mistakes You Need to Conquer

How to Deal With Debt By Doing Business Marketing Smartly?

How To Choose The Best Broker For You

1. Types of Forex Brokers :

No Dealing Brokers :

Market Makers :

Electronic Communication Network :

2. Features of a Reliable Forex Broker :

Regulatory Compliance :

Trading Platform :

Customer Service :

3. How to Identify a Good Broker :

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Explore Some Interesting Marketing Trends for Your Business in 2018

5 Reasons to Use Magento for Your Next Ecommerce Website

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

Leave a Reply

Popular

Follow Us

Recent

Related