Forex Trading Platforms Compared

As a trader, there are a few factors that help determine whether you will be successful or not. Some of these factors are the forex broker that you use, the amount of leverage you use, your skill and expertise, and the trading platform that you use. The most common trading platforms are those from Metaquotes. This article will compare Metatrader 4 and Metatrader 5.

Metatrader 4

MT4 was the first product from Metaquotes. It is offered by most brokers and it can be accessed through a mobile application, a desktop application, and a web application. It is an easy-to-use platform that has several important features like inbuilt indicators, access to expert advisors, and access to strategy testers. The MT4 is commonly used by new unsophisticated traders.

Metatrader 5

This is the next version created by Metaquote. It is an advanced platform that has additional features than the MT4. Some of the features it has are the following.

First, it has more timeframes than the MT4. The MT4 comes loaded with nine timeframes while the MT5 comes loaded with 21 timeframes. The additional timeframes are very important because they help you do better analysis.

Second, the MT5 comes loaded with more technical indicators. These are usually more advanced indicators and are usually recommended to more experienced traders. Some of the indicators found in MT5 and not in the MT4 are: Adoptive Moving Average, Fractal Adaptive Moving Average, Triple Exponential Moving Average, and Average Directional Movement Index Wilder. To use these indicators in the MT4, you have to download them and export them to the platform.

Third, the MT5 comes loaded with the economic calendar. The calendar is a schedule of the economic data that is expected to be released in a given day. Traders use the data in the economic calendar to determine the performance of the economy. Examples of data found in the calendar are employment numbers, inflation numbers, sentiment numbers, and manufacturing and industrial numbers. The MT4 does not come with a calendar.

Fourth, the MT5 has more ways to start pending orders. A pending order is one that directs a broker to initiate a trade once a certain price is reached. The MT4 comes with four pending orders such as buy and sell stop orders and buy and sell limit orders. The MT5 comes with these order types and two others. These are buy stop limit and sell stop limit.

Fifth, the MT5 comes with the ability of setting up a virtual platform. The virtual platform is mostly important for advanced traders who want to use their algorithms. In the virtual platform, you can select your ideal server and pay a small fee to store your algorithms. This service is available in the MT4 platform but the steps to access it is a bit longer.

While the MT4 and MT5 have their differences, they are all known to be very good for new and advanced traders. This is because of their popularity and their universality. The latter means that even if you move from one broker to another, you won’t have problems trading because you already understand how to trade using the platforms.

Is It Possible to Get A Personal Loan with Bad Credit? Understanding Your Options

If you have bad credit, you may be wondering if it’s possible to get a personal loan from a bank. The answer is more complex than a simple “yes” or “no”. In this article, we’ll help you understand if it’s possible to get a personal loan if you have bad credit – and the other alternatives that may be available to you.

Getting A Personal Loan with Bad Credit Is Usually Very Difficult

Bad credit usually will prevent you from getting a personal loan – at least, at the majority of traditional banks and credit unions. Why? Well, it’s simple. Your credit score determines your lending risk. To simplify things dramatically, a low score means that you have a history of failing to repay your debts. A high score means that you rarely – if ever – have had trouble repaying what you owe in a timely fashion.

Lending risk is very important for personal loans, even compared to other loans like mortgages and auto loans. This is because personal loans are unsecured. Unsecured loans are issued without any kind of collateral. This means that, if you default on the loan, the bank has very few options to get their money back.

This is in contrast to a secured loan, like a mortgage or a car loan. If you default on your mortgage or car payment, the bank can take your home or your car, and recoup most of their money. To boil all this down, what this means is that individuals with a bad credit score (600 or less) will have a tough time getting a traditional personal loan. There is no collateral to secure your loan, and because you have a high risk of not repaying, you’ll either be denied outright, or have to pay a very high interest rate.

What Other Options Are There for Getting an Emergency Loan with Bad Credit?

If you really need an emergency loan with bad credit, there are a few options that you can use.

  • Payday loans – Payday loans typically have high fees compared to bank loans. However, they are easier to qualify for, as you can usually get payday loans online with any credit score, as long as you are employed and have proof of income.
  • Home Equity Line of Credit (HELOC) – If you have a mortgage, you can take a loan out against your home equity. You can usually do this even with a sub-par credit score, because your home’s equity works as collateral, securing the loan.
  • Credit card cash advances – Most credit cards allow you to take out a cash advance against your line of credit. However, these carry high APRs, and you will have to start paying interest on them as soon as you take them out.
  • Merchant cash advances – If you run a business, a merchant cash advance may be an option. A merchant cash advance uses your credit card sales as collateral. You get a lump sum loan, and the lender gets a set percentage – usually 3-10% – of your credit card sales paid to them each day, until the loan and its fees have been paid off.

Know Your Options for A Loan with Bad Credit

While it is possible, it’s not easy to get a traditional loan with bad credit. So, make sure you understand what other options you have, and you’re sure to make the right choice for your particular situation.

The Best Customer Acquisition Strategies for Your Business

customer

There is nothing as good as a customer leaving a positive comment about the business, product, or service you offered. As an entrepreneur, the primary goal should be how to reach the client.

Then, the strategy should be extended to winning the client, making him/her buy, and converting to roving customer to sustain high profits. The following are the top strategies that have worked in other top enterprises and, that you should also try.

Utilize different marketing forums

Forum marketing involves taking parts in different events where people talk about brands, products, and services. In many cases, the forums attract experts and top professionals who are trusted in specific industries and command huge following.

For example, a tech forum in an offshore target destination of interest could be a perfect place to market your enterprise and its products.

When you participate in such forums, a lot of people will know about your brand and become clients. Such forums will also be an opportunity to help you join the conversation to educate the audience about your products.

Craft unique partnerships online

As you work tirelessly to craft great strategies at all levels, things will work even better if there are other people working to help roll the wheel. Some of the top entities to rope in at this point are the influencers who command a lot of following.

These are personalities who are considered leaders in the industry and, their endorsement could help raise the sales to record high. Though such affiliates do not work for free, they might be the spark you need to fire the business to the next level.

Utilize online and offline marketing

Marketing is a very expensive undertaking. The focus at this point should not be simply cutting the budget.

Rather, you should target using methods that work and allow tracking the success. To win a bigger market share, it is better to use both online and offline methods.

Networking acts as a funnel that channels all clients from cooperating entities. Note that the cooperating entities will also require you to replicate by recommending their services to clients.

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