Forex is the largest financial market with an astonishing volume. Every day, over 5 trillion US dollars circulate between its participants. Until the 1…
Forex is the largest financial market with an astonishing volume. Every day, over 5 trillion US dollars circulate between its participants. Until the 1990s, only institutions were allowed to make a profit through trading. Now, anyone with an internet-connected device can do the same. All you need is the right software and knowledge of the market. Here is where to begin.
In 2021, trading is defined by digital technologies. Sophisticated apps and platforms connect users to the gigantic marketplace. Currencies are bought and sold online, and the system is decentralized. Unlike the stock exchange, it does not have a physical center. To get started, you need a registered account with a brokerage.
Step 1. Open a Demo Account
It is the first step for every Forex novice. Theoretical knowledge alone will get you nowhere. You need safe practice. Regulated providers allow their clients to train as long as necessary. For instance, an Olymp Trade demo account comes with a virtual deposit and unlocks all the features of the trading software.
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Today, there are trading systems for desktop computers and mobile devices. They work on all popular OS: Windows, Mac, Android, and iOS. Usually, you only need to submit the basic contact details to register. The broker will email your password and login straight away. Use them to unlock the terminal, and you are all set.
Step 3. Build Your Skill Set
On average, traders spend between 2 and 3 months working in the simulator. It imitates real market conditions, but no money is deposited or withdrawn. The demo is indispensable, but it still feels different from live trading. When your own capital is a stake, making the right decisions is always more difficult. This is something to bear in mind.
To access the biggest financial market, you need another type of account — live (sometimes called ‘real’). To create it, the broker will need a few documents to conduct an identity check. Popular companies make this process as speedy as possible. Once the new credentials are ready, you can fund your account and get down to business!
Start small and avoid leverage until you feel perfectly confident. The market may always move against you, so risk management is a must. Use Stop Loss for every position and never risk over 1% of capital per trade. Finally, remember that learning never stops — even seasoned traders continue to explore new strategies and tools.
How to Choose Your Brokerage
It is a crucial decision for every beginner. A broker does not only provide access and tools — it processes financial flows. If you trade through an unscrupulous middleman, you will never withdraw any cash. Do not be naive.
Look for a regulated provider in your area. In India, there are local and international firms. The biggest global brands are licensed, and they serve millions of clients worldwide.
Manvendra Chaudhary, with over 5 years of professional experience as CEO of Unique News and Megalent Marketing, shares insights on life, business, and health for your success.
Quick-service restaurant chain Wow! Momo has secured Rs 70 crores from Z3Partners in an extension to their latest funding round following Rs 350 crores from Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia. Wow! Momo operates three brands – Wow! Momo, Wow! China, and Wow! Chicken.
CEO Sagar Daryani expressed gratitude stating, “We have been consistent and resilient…this round of investors have shown in us fortifies our faith and further motivates us to be change-makers.” Launched in 2008, Wow! Momo has 600 outlets in 38 cities and ventured into the FMCG sector along with their QSR vertical.
Managing Partner at Z3Partners, Rishi Maheshwari, praised Wow! Momo saying, “Wow! Momo is a reflection of the vibrant entrepreneurial landscape in the country…building a high-quality food business at scale, fuelled by superior execution expertise.” This funding round totals over Rs 480 crores, with Rs 270 crores via primary infusion and Rs 210 crores through a secondary purchase from early-stage investors.
Wow! Momo’s growth trajectory has been impressive with a strong presence in multiple cities. This latest funding will further solidify its position in the market and support its expansion plans. Sagar Daryani and the team at Wow! Momo are optimistic about the future and grateful for the support shown by investors.
Varanasi, April 17 (IANS) – Six more products from Uttar Pradesh have been granted the Geographical Indication (GI) tag, including the famous ‘Tirangi Barfi’ of Kashi, a tricoloured sweet symbolic of the Quit India Movement. The GI Registry awarded the certification on Tuesday, bringing the total number of GI-tagged products in Uttar Pradesh to 75, making it the state with the most GI products in India.
The newly certified products in Uttar Pradesh also include Banaras Metal Casting Craft, Lakhimpur Kheri Tharu Embroidery, Bareilly Cane and Bamboo Craft, Bareilly Zardozi Craft, and Pilkhuwa Hand Block Print Textile. According to GI expert Padma Shri Rajnikant, “Two renowned products from Varanasi, the Tirangi Barfi and Metal Casting Craft, were granted GI certification on Tuesday.” Rajnikant, the general secretary of the Human Welfare Association, has been instrumental in securing GI tags for 148 producers across 14 states and Union Territories.
Rajnikant highlighted the crucial role played by the National Bank for Agriculture and Rural Development (NABARD) Uttar Pradesh, Lucknow office in supporting these six GI tags. He emphasized that this achievement strengthens Uttar Pradesh’s position as the leading state in GI products. In 2008-09, the state had only one GI product, the ‘Allahabad Surkha Amrood.’ With 75 GI products now, Uttar Pradesh continues to lead in this area.
The GI tags not only recognize the unique identity and qualities of these products but also provide protection against imitation and unauthorized use. These certifications also help in promoting traditional craftsmanship and skills, thereby boosting the local economy and preserving the cultural heritage of the region. Tamil Nadu follows Uttar Pradesh with 58 GI products, reflecting the rich cultural diversity and heritage of various states in India.
In a record-breaking achievement, the Central Board of Direct Taxes (CBDT) has signed 125 Advance Pricing Agreements (APAs) in the financial year 2023-24. This marks a significant increase of 31% from the previous year, totaling to 641 APAs since the inception of the programme.
These agreements were established with the aim of promoting ease of doing business, particularly for multinational corporations engaged in cross-border transactions with their group entities. The CBDT statement highlights the importance of these agreements in providing certainty to taxpayers in transfer pricing.
The increased number of APAs is a result of mutual agreements with India’s treaty partners like Australia, Canada, Denmark, Japan, Singapore, the UK, and the US. This collaboration not only brings certainty to international transactions but also offers protection against double taxation, benefiting taxpayers for up to nine years.
The APA Scheme specifies methods of pricing and determines the arm’s length price of transactions in advance, providing taxpayers with a roadmap for the next five years. The option to rollback APAs for the preceding four years further solidifies tax certainty and ensures a smoother process for businesses operating in India’s dynamic economy.
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