Forex Trading With ECN PRIME

Trading Forex

If somebody wants to trade on the interbank forex market, which is an OTC (over the counter) market, then the clients need to open a trading account at a forex broker. The forex broker provide all of tools and technology and settle trades to the market through its Liquidity network. Trading can be done either over the phone or through electronic networks, but the most popular way is using an online trading platform, where clients can analyze the market movements and based on their expectations and opinions, they can make investment decisions and place trades on the real market. The Forex trading is a 24-hour market, because of such a worldwide distribution of trading centers. Sydney, London, Tokyo, New York, and Frankfurt are the main hubs of trading. The market makes the biggest movements when markets overlaps each other. Trader mostly like London and New York session.

It is very important to learn Forex trading before taking up this trade. For instance, one should know about basic terms like currency trade. A currency trade is a synchronized purchase of one currency and selling of another. The currency combination used in this exchange is known as a cross (for instance, the euro/US dollar, or the GB pound/Japanese yen). The most frequently exchanged currencies are called "majors" and include EURUSD, USDCHF, USDJPY, and GBPUSD. 

The spot market is the most important Forex trading market as it has the biggest volume. The market gets its name because all of the exchanges are settled immediately, or "on the spot," although this is practically accomplished in two working days. Other than these terms, ECN PRIME offers access to real access to interbank forex market with ultra-fast order execution with very low spreads and costs via award winning MetaTrader 4, cTrader and Currenex platforms. ECN Prime provide real time market quotes and charts as free of charge. It gives you the possibility to trade on real market with virtual money and you can test your trading strategy and learn trading without any risk. 

Opening a real Forex account is very easy. It is done in three simple steps. The first step is to select the account type. You should decide in advance whether you want to open a live account in your name or in your business's name. Also, there is an option between Innovative Liquidity Connector and xLeverage accounts.

The next step is the online registration. The proof of ID and proof of address documents needs to be submitted to complete an account application. These documents are necessary to complete account application, because ECN Prime needs to follow and comply with the international and local Know Your Clients and Anti-Money Laundering rules and regulations.

Once the broker receives all the paperwork required, you will receive an email on how to fund your trading account with real money. After this process is complete, you will receive a final email with a username, password to login your trading account. You can now also open a MetaTrader 4 and cTrader demo account with ECN PRIME. 

So, if you are looking for benefits and want to invest and make money from Forex trading, then choose ECN PRIME. They are the best forex broker you could ever find. One of the main benefits of an offshore trading account is that there is no capital gain tax acquired from trading activities. If you make $500 or even $1 million, ECN PRIME has no obligation to report the capital gain to any tax authority. They hold client funds on segregated accounts.

5 reasons to hire a Virtual Chief Financial Officer

When it comes to dealing with the financial aspect related to a business, some companies prefer to do it on their own due to budget constraints. But, it is always advisable to seek professional help of a CFO as he is equipped with the knowledge and expertise to do the job right. For companies that cannot pay large amount to a CFO, virtual CFO is the solution. 

A virtual CFO is an outsourced service provider who offers skilled assistance in financial needs of an organization. He works same as a Chief Financial Officer but does not charge more for his services. Here are 5 reasons to hire a virtual CFO.

Saves you money

Hiring a virtual officer enables you to save your money since you need not appoint him for full time. He can be hired based on the needs and can be paid accordingly. Additionally, you can get the same quality of work you receive from a full-time officer. 

Offers flexibility

It cannot be denied that one of the biggest benefits of availing virtual CFO services is flexibility. It is due to this flexibility that you can access bespoke services that your organization requires. You can increase or decrease the services as per your needs. 

Provides access to experience and expertise

Finding an experienced and skilled virtual CFO is easier than seeking a traditional option. You need to simply mention the skill set along with minimum experience you require and the professionals will come to you. The best part is that these virtual officers have the experience of working with different organizations and they can bring a fresh perspective to your table. 

Increases your chances of better results

Having an opportunity to work with many companies before, they are already aware of common financial problems that your organization might encounter and can thus provide solutions based on what they have learned from their past experience.

Adds a new perspective

Regular employees usually operate within a single company and have the same approach to perform tasks and address any issue. But since a virtual CFO has worked with diverse clients before, he can introduce a new perspective to solving issues - something that can be extremely beneficial to your company. 

Running a business involves money. You need to ensure that you are able to make the most out of what you are investing. 

Proactive CFOs operates as a full time and part time CFO Sydney, helping the businesses with their financial modeling. Implementing various business strategies, we help improve the bottom line of your business.

How To Compare between the Islamic Banking System and Conventional Banking System?

The journey started with making efforts to establish Shariah objected the conventional banking system in Pakistan and across the Muslim world and insisted to introduce Islamic banking. The concept of Islamic banking was to provide people with Halal banking along with safety from Riba (interest). The basic purpose was to avoid foreign financial services, especially banks and their overall banking system, in almost every single Muslim country. The core vision behind this concept was to establish an Islamic Economic System around the Islamic World. 

Following the initial phase, people raised the basic question "Is Islamic banking really according the Islam? This article will try to answer this question by discussing why comparison between conventional and Islamic banking systems is crucial. 

There are two major aspects behind this specific question or matter. At first, what is the basic distinction in the banking methodology or the system the lay person can see while dealing with an Islamic bank in comparison to a conventional commercial bank? In the second place, whether interest is totally eliminated from the Islamic banking system, even at the benchmarking level? 

The problematic issue emerges when the Islamic banking system is only taken as a simple change of name, not the whole system. So, it is necessary to understand the difference between Islamic banking system and conventional baking systems, which can be possible to make comparison between them.

Conventional Banking System 

Conventional commercial banking system, money refers to a commodity along with medium of exchange and store of value. For this very reason, despite of its face value it can be sold at high price as well as it can be rented out. In this system, charging interest on capital is based on time value. Interest is the basic part of this system charged even in such a situation when a business organization experiences losses by using bank's funds. Hence, profit and loss sharing is not its basis.

There is no concept of exchange of goods & services while disbursing any type of finance including cash finance, running finance or working capital finance, no agreement. Money is used by conventional commercial banks as a commodity which results in inflation.

Islamic Banking System 

In Islamic banking system, money does not refer to a commodity though it is employed as a medium of exchange and store of value as in the conventional system. Thus, money, despite of its face value, in Islamic system can't be sold at a higher price or rented out. Moreover, earning profit is based on profit on trade of goods or charging on facilitating people with service. It suggests that profit and loss sharing is the basis of Islamic banking system and its operational activities. Further, if the businessman or an organization has experienced losses, the bank has the responsibility to share even these losses on the basis of the mode of finance used (Mudarabah, Musharakah). 

In Islamic system, it is necessary to make agreements for the exchange of goods & services, while disbursing funds according to the contracts of Murabaha, Salam & Istisna. 

Islamic banking system inclines to establish a connection with all the real sectors of the economic system through activities associated with trade. Since, the money is connected to the real assets thus its contribution is direct in the overall development of the economic health.

In-Depth Comparison between Islamic Banking System and Conventional Banking System 

If we talk about conventional mortgage, a finance facility, if a person decides to purchase a property he as the customer borrows some financial support (money) and repays it with an extra amount (interest) over a specific time period. The extra amount the customer will pay is called the interest amount which is not according to the Shariah and Islam. On the other hand, if we talk about Islamic mortgage, Islamic bank is responsible for sharing with the customer in purchasing the property. So, both the bank and the customer make ownership and become the property's joint owners along the lines of their share in purchasing the property. So as to own and use such a property, the share of bank's property is purchased by the customer over a time period, while paying the rent for using the bank's property share. With the passage of specific time, the customer manages to buy the total share of bank. The customer acquires the sole property ownership finally. 

Moreover, as far as the Islamic mortgage finance is concerned, the rent will be charged once the delivery of the property has been taken by the lessee and it is in workable/usable condition. Keep in mind that rent cannot be charged from the moment the price was paid with the aim of acquiring the property. In case of delay from the end of the supplier regarding the delivery even following receiving the full price, there will not any liability on the lessee for the rent of the delayed period. In the conventional mortgage finance, on the other hand, the lease rentals typically commences from the date the bank pays to purchase the property.

Which is the best capital protection investment plan?

Protecting your capital, a BIG task, Isn't it? You have your higher studies planned, EMI to take care of and a huge college fees for your children awaiting to empty your purse in couple of years. And, of course, unwanted emergencies like health issues and uncertainty at work which can lead to unexpected personal finance problems.

The usual way Investors protect the capital:

Normally, in two different situations, the investors look into protecting the capital by preserving it.
1. When the asset prices are too volatile
2. When risk is alleged to be high with any particular product

In these scenarios, the investors hide inside their shell to safeguard their hard earned money rather lose it by trying to invest in high risk instruments. After looking at the capital that doesn't grow due to fear of losing it, the investors seek advice from the experts for options.

Are bank FDs the safest and the best mode of protecting your capital?

The answer is 'yes' and 'no'. When you invest in bank FDs, your money is safe. But, the investors get confused when they struggle to beat inflation with the return they get from bank FDs. Normally, bank FDs offer you an interest of about 8.75%-9.25%. After you pay taxes on the interest earned, you earn returns approximately at 7%. Did you know for the last five years, the inflation rate is at 7.5%? It makes your investment value as same as what you invested initially. You gain nothing extra here.

Understand how these safest capital protection mutual fund schemes work?

You wanting an upside with bank FDs and seeking risk free protection is a clear paradox, you can't have a cake and eat it too.
You need to understand things clearly. Say For example, you are investing 30 lakhs in a fixed deposit. You are amazed at the statistics comparing capital protection mutual fund schemes over bank FDs given by the banker who sells these, right?
From your capital protection mutual fund scheme investments, the bank earns a huge sum of approximately 1 lakh as a fee and the banker earns an incentive. This is the reason banks broadcast and advertise extraordinary about their high risk averse HNIs over other capital protection plans. Remember, you gain no hot revenues which does any good to your portfolio.

So, what is the best alternative capital protection plan if not bank FDs?

Well, you have liquid funds to choose from mutual funds. The bankers will not advocate such plans as they incur low fees for them. These fixed mutual liquid funds are the best alternative to your 'so called safe' plans in name of bank FDs. There are debt funds that offer low risk products such as capital protection funds and FMPs(Fixed maturity plans).

How does the capital protection funds work?

Understanding how capital protection mutual fund schemes works is not a rocket science. Let me explain it simply. When you choose capital protection mutual fund scheme, 80% of your investment goes into fixed income securities and the remaining 20% is invested in equity funds. This arrangement makes sure your capital is safe as the 80% invested in FDs are kept until the tenure of the scheme. You gain an excess return on your capital through the 20% invested in equity products. A point to remember here is the risk associated with this small portion when the market is volatile. If you are ready to take a little risk with 20% of investing your capital in equities during a volatile market, then go for this scheme.

How does the FMPs work?

The fixed maturity plans gain returns as they are invested in bonds and held until maturity. Your capital is invested in couple of certificates which trade at 9.5% or more. These investments are held until the period of maturity. After deducting the incurred expenses, the investors get a return at the rate of approximately 9%. This is slightly higher than other short term funds or liquid funds.

Ok, how do these investment products differ from bank FDs?

Safer Investment Option - Well, I can't say this as a difference, but these mutual fund models offer the same level of protection as the bank FDs since these are invested for a fixed period. But, the key difference is the multiple options you get here.

* If you want to invest your capital for a shorter period, FMPs offer options to invest for minimum 30days onwards and available even for 3 years.

Works best at all times -If you want to protect your capital when the bond yields are high, safely invest in FMPs.

Save on Tax with long term capital gains:

You pay taxes of about 20% with indexation and 10% without indexation from long term capital debt funds gain. This helps in adjusting the buying price in accordance with inflation and you get an edge from your taxes on interest over normal FDs.

Alternatives to Capital Protection Funds:

Capital protection funds invest 80% in debt and 20% in equity. You can do this on your own. That is you can invest 80% of your money in FD or FMP or debt fund and invest the balance 20% in equity funds.

Mostly, the capital protection funds have high expense ratio.
So instead of investing in capital protection funds, you can create your own capital protection asset allocation combination.

Remember, you need to make the investments to work for you, not to the banks. Plan well and save your hard earned capital!

The author is Ramalingam K, an MBA (Finance) and Certified Financial Planner. He is the Director and Chief Financial Planner of Holistic Investment Planners (www.holisticinvestment.in) a firm that offers Financial Planning and Wealth Management. He can be reached at ramalingam@holisticinvestment.in

How healthy your personal finance management is?

Like how we take care of our physical health through periodic check-ups, inspecting the financial health from time to time is very important. We tend to look at what we eat, how we keep our lifestyle in order to have a healthy life.
In the same way, having a disciplined way of managing your portfolio will safeguard your future spending, earning and saving.
Personal finance management helps to plan our future appropriately. Read ahead to understand how one can analyse their personal finance strength with some easy to do ways.

Monitor Budget Vs actuals:

I have seen families starting their monthly expenses after budgeting. They allocate a particular amount for each fixed expense like rent, education fees, petrol, commuting, etc., But, if you ask me how many of them check at the end of the month whether the money they spent on each task matches with what they budgeted. My answer is 'not so positive'.
Yes, it is very important to check, compare and monitor the budget with the money spent actually. This exercise will help you in,
Identifying the current and future cash flow
Achieving your finance goals by managing cash outflow very well

This can be achieved by simply, but unfailingly following two steps.

 Organize personal finance records properly
 Fix a period to monitor and compare the budget with the actuals

Formulate Proper Financial Plan: 
Attaining financial goal is like a journey. Planning is necessary if you want to travel from one destination to another even within a city. Because planning gives us proper,safer and easier route to reach our
destination. Likewise, planning is necessary in order to reach your financial goals which include but not limited to retirement benefit, healthcare etc.

Focus on identifying short term & long term financial goals and list some key factors like,

Your current financial position
Think about the current cash flow and list down all sources of income
Estimation of amount and time required to achieve your short term & long term financial goals
Measure the financial securities that you have in hand like current assets
Consider possibilities of future financial expenses and emergencies like medical treatment, marriage, child education, etc

Group them to make a considerable financial plan to secure your future.

Monitoring Your Finance Activities:

After making financial plans, the most powerful process in personal finance management is supervising or monitoring the activities.

Monitoring your financial activities will help to

Identify new sources of income (extra income)
Identify unwanted cash outflows such as impulsive buying or extra vacation
Control and strengthen your financial securities
Identify the best ways to spend your income
Finding proper ways to save your money
Identify the sources of new investments
Identifying financial trouble:

Identifying risk is an essential part in personal finance management.

"Risk is much more about what you don't know than what you think you might be able to control."- The Wall Street Journal

Couple of things where trouble/risk can occur:

Extra penalty towards late payment fees such as rentals, maintenance, electricity bill payments, telephone and cable charges etc.
Exceeded credit card limit and late payment of credit card bills leads penalty and excess interest
Not keeping minimum balance in bank accounts.
Unnecessary credit card usage

Managing Financial Crises: 

Many times, financial urgencies like illness, loss of job, family changes, long term disability, legal problem cause finance crisis.

Follow some basic rules to manage such situation:

Always maintain contingency reserve to manage emergencies
Take health insurance, accident & disability insurance and critical illness insurance policies which can support you long term 
Use credit cards as a trump card, only during emergencies

Handling un-managable debt or bankruptcy:

Understanding the tactics to handle un-avoidable debt is very important in personal finance management. Not able to manage debt go to the extent of suicide. In case of insolvency, reach out for expert's guidance instead of taking any foolish step. There are legitimate ways that can help manage bankruptcy or unavoidable debt.

Most important advice given by Warren Buffet is "Don't put all the eggs in one basket". Follow the key points given in this write-up and make a wonderful plan to strengthen your finances. Believe me, luxury follows those who plan well and keep their finances a healthy one.

The author is Ramalingam K, an MBA (Finance) and Certified Financial Planner. He is the Director and Chief Financial Planner of Holistic Investment Planners (www.holisticinvestment.in) a firm that offers Financial Planning and Wealth Management. He can be reached at ramalingam@holisticinvestment.in

Financial Advisor In Richmond

The site at atlasfg.com has all the information you need for a financial advisor in Richmond or a financial planner in Richmond. Everyone who is trying to get the best results for their finances needs to make sure that they are going to have someone who will help them with everything that they are trying to do. That usually means that you are going to have someone who is going to help you with all your investments, and you need to be sure that you are going to be able to change your life with extra money that you are making from these investments. 

The investments that you make with the financial advisor in Richmond or The Fee only Financial planner in Richmond are going to be very good because that is going to point you in the direction of an investment that really makes sense for you. Every person has to make their own investment decisions, but you will have someone on your side who actually knows what they are doing. You will have all that you need when it is time to get these things done, and then you can make changes any time that you need. There are a lot of things people might choose to do, and they have to be sure they are working with someone who will help make the changes easily.

Your first step is going to have to be with someone who knows the stock market, and you have to check and see what they can do for you. They will teach you a lot about your money, and they can share with you some things that will make it a lot easier for you to make money. They can help you with stocks, property and other investments that might work for you, and it will be really fun for you to work with someone who knows all of this.

The people that do this every day are going to have access to a lot of things that will make your life better, and you should start thinking about how you are going to have a chance to get help that really means something to you. Your own work can be done a lot easier because you are speaking to someone who will help you make money on investments, and they will handle all your accounts so that you do not have to worry about it. It is so much simpler for you to do this when you are working with the right person, and you should start thinking about how you are going to get results from the things that you are doing. Everyone who is working hard on these things will make more money with an advisor.

Gaining an insight into job responsibilities of a Chief Financial Officer

The CFO is a corporate officer responsible for handling finances of an organisation. From financial planning and record-keeping to financial reporting to higher management, he manages all this and more. He supervises the financial unit and operates as the chief financial spokesperson of the company. 

The typical day-to-day job responsibilities of a Chief Financial Officer may vary. However, the three basic areas include the following.

Accounting and reporting

The Chief Financial Officer is responsible for maintaining accurate financial records and preparing financial reports on a company's financial status. When working for a small company, the CFO handles basic accounting duties and generates monthly and annual financial reports. Contrary to this, his duties shift toward analysis and management while working in a larger corporation. The actual accounting and reporting is carried out by the divisions and the CFO reviews them to analyse the corporation's financial status. CFOs working in larger organisations usually submit an annual financial report to the board of directors of the organisation. 

Management and budgeting

In a smaller company, the CFO handles matters such as cash flow, salaries, budgeting, and investments. His other job responsibilities include signing employee paychecks. On the contrary, the CFO plays more of an administrative role in terms of management and budgeting in a larger corporation. He decides on pay scales and allocates resources on the basis of reports from division manager. CFOs often seek opportunities for capital investment for their organisations.

Strategy and planning

In all types and sizes of companies, Chief Financial Officers are partnering with CEOs as well as corporate boards to assist with long-term strategic planning. They assess productivity and look for opportunities to develop areas of efficiency in order to improve profitability. They are consulted for their knowledge of markets, funding sources, as well as general economic outlook to help organisations with wise decision making when it comes to analysing risks and allocating resources. 

The qualification for a CFO can vary according to the organisation. Given that they have to undertake financial management responsibilities, most of them are expected to have training as well as experience in accounting or finance. Larger organisations require a CFO to have MBA and/or advanced degree in finance, accounting or economics.

In a nut shell, the Chief Financial Officer has an important responsibility to help organisations and companies to grow. Simply put, he keeps a company going strong.

Proactive CFOs offers both CFO and virtual CFO services to improve financial performance of businesses. The professionals help the business owners to achieve efficiency in operations and set and monitor key performance indicators.