Four deadly consequences using a low-end broker - Global Coin Report
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Four deadly consequences using a low-end broker

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low-end broker

We all know trading is the best way to secure our financial freedom. Regardless of the economic crisis, traders can make a profit by executing orders in the Forex market. They execute the orders, traders use third party often known as Forex brokers. Unless you trade this market with a well-reputed Forex broker, it’s tough to ensure profit. You might get scammed in the investment industry. People are always thinking about their trading strategy and working more than 10 hours to learn the art of trading. They even forget the role of premium brokers. If you chose an unregulated broker, you are going to suffer a lot in the investment industry. Let’s learn to explore the consequences of choosing a low-end broker in the Forex market.

You might get scammed

If you trade this market with an unregulated broker, you might even get scammed. The traders are not aware of the fact, hundreds of false brokers are offering service only to get money from the investor’s pocket. Once you deposit money, you will be able to execute a trade without any problem. But things will take a turn when you request a withdrawal. They will show hundreds of causes and freeze your trading account. If you want to save yourself from such a broker, you must choose the broker who is well regulated by the financial regulatory bodies. But having a license from such organizations is not enough. You need to assess their past track record. Read public feedbacks and opinions and you will be able to understand the quality of the brokers.

The low-quality trading environment

All the low-end brokers offer a low-quality trading environment. The traders often experience heavy slippage and find it hard to execute the orders at the volatile market. But if you trade with the best Australian Forex broker, you are never going to experience such technical problems. Elite brokers like Rakuten always care about their clients. They worked hard to ensure the premium environment for the retail traders. If you asses the price charts, you will be able to see accurate price feed. On the contrary, if you trade this market with a premium broker you always get high-quality price feed. Those who are using the price action signals knows the importance of accurate price feed. A few seconds delay in the price feed can greatly change the candlestick pattern. So, the traders are bound to lose money due to faulty price feeds.

Horrible customer support

If you trade with the unregulated broker, you are going to get horrible customer support. The new traders are most likely to face trouble with the trading environment. In such a case, the premium Forex brokers always try to solve the problems with high priority. No matter how big the issue is, you can expect to get premium help from the retail traders. Being a new trader, you can also get access to their educational resources. On the contrary, if you trade with the unregulated broker, you never know about the quality of trading tutorials. You might learn trading in the wrong way and lose a big portion of your capital.

Makes you frustrated

Low-grade brokers have many problems. Every small problem contributes to your frustration. Being a new trader, you will be struggling to make a profit. And when you will start losing money due to technical problems, it will be very hard to control your emotions. Once you lose control over the emotions, you will make a big mistake and lose more trades. The pro brokers always try hard to make the traders mentally stable. They arrange regular webinars on trading so that the traders can learn new things. You might feel, the low-end brokers will cut down your trading cost but in reality, they will wipe your trading account.

Image by Alexas_Fotos from Pixabay

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The Pros And Cons Of Cryptocurrency

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Many facets of our lives are now digitized––money is no exception. 

Have you noticed that paper money is on its way to being obsolete because so many people receive direct deposit and love the simplicity of their debit card? 

Not to mention, cash carries germs, as we’ve heard lots about during the pandemic. Many businesses have turned to card only options in light of this. 

But what about cryptocurrency?

You probably heard everyone raving about it a few years ago, but the excitement’s calmed down quite a bit. That doesn’t mean that it’s not a viable option you should keep in mind. 

What’s Cryptocurrency? 

Let’s start with the basic definition of cryptocurrency so we’re all on the same page. Cryptocurrency utilizes cryptographic methods and complex coding systems to encrypt sensitive information during data transfers. This protects your funds and personal information on a whole different level. 

These transactions are virtually impenetrable due to the combination of mathematical and technological protocols created and put in place. This aspect of cryptocurrency is what makes it safer. Also, the details of transactions are kept private. No one can see who sent what, etc., because those rigorous mathematical and technological protocols protect it.

The Pros: 

Different From Traditional Banking Transactions

One thing people hate about traditional banks is the fact that they can…

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Enhancing the DigitalBits Ecosystem through the XDB Foundation

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The DigitalBits ecosystem welcomed a new benefactor in the form of the XDB Foundation, a non-profit organization dedicated to providing support for DigitalBits. The main objectives of the XDB Foundation include the DigitalBits Ecosystem Support Program, supplying both financial and non-financial assistance to qualified entities and projects within the DigitalBits community, with a focus towards innovation and speeding ecosystem growth.

Michael Gord, MLG Blockchain and GDA Capital founder, has been appointed to the role of Managing Director of the XDB Foundation.  “I am excited to see the launch of the XDB Foundation and to be joining the DigitalBits ecosystem in this new capacity,” says Gord. “In the coming weeks, the XDB Foundation will share additional updates regarding its key initiatives.  Over the past 2 years, we have seen DigitalBits achieve various milestones and with this next chapter I’m excited to see the XDB Foundation contribute as the new project lead supporting education, research and development, and ecosystem growth and adoption.”

Michael Gord’s first initiatives within blockchain started with establishing the McGill Students’ Cryptocurrency Club, McGill Students’ Fintech Association, Bitcoin Canada and providing leadership on the global expansion of the Blockchain Education Network.  Notably, he is also a key contributor to the Kerala Blockchain Academy, one of the largest innovation hubs for blockchain technology worldwide. 

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Bitcoin

As Global Tensions Grow, Bitcoin Price May Go Higher

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BTC Surged Again as A Safe Haven Asset During Global Tensions

  • India – China Border Conflict

After weeks of squabbling and brawling along their long-disputed border, hundreds of Indian and Chinese soldiers engaged in a deadly clash Monday in a river valley that’s part of the region of Ladakh last week. Troops had massed on both sides of the border in recent months in the northern India region of Ladakh and the southwestern Chinese region of Aksai Chin, causing global concerns of a potential escalation between the two.

  • North and South Korea Clash

Last Tuesday, North Korea destroyed the liaison office it jointly operates with South Korea in the city of Kaesong, just north of the demilitarized zone that separates the two countries. 

North Korea also said it would send troops to now-shuttered joint cooperation sites on its territory, reinstall guard posts and resume military drills at front-line areas in a violation of separate 2018 deals with South Korea. Jeong said South Korea will take “immediate, swift and corresponding” steps to any North Korean provocation.

The tensions grown in Asia and the potential “second wave” of coronavirus in the United States may add more difficulties to the global economic recovery. Thus, Bitcoin, as a safe haven asset, attracts more investors to buy and hold. 

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