Forex Review

Introduction

As long as there has been coined money (which does not really come up until the 600s B.C.E.), merchants from different countries have purchased each other’s currency. Today, many investors buy money of other nations – most commonly the American and Australian dollars, the Japanese yen, the euro and the British pound – in hopes of making a profit, the success (or failure, God forbid) of the investment depending on whether the rate of exchange between the two currencies involved rises or falls. This article will be about one forex trading platform in particular – what its policies are, what it offers and what steps are involved in setting up an account there.

iForex

iForex is a trading company based in the British Virgin Islands (NOT the U.S. Virgin Islands) that has locations all over the world, plus separate customer support numbers for Greece, Russia and Spain. It has one of the best-designed platforms of any company of its kind – though, it must be admitted, they have experienced slowdowns from time to time. Some customers have complained about the fact that iForex does not use the electronic trading platform MetaTrader 4 like so many others have. In addition, customers have to present images of both sides of their credit cards for their transactions to be accepted. On the other hand, a web and a standalone platform are both available and the customer support is very friendly! iForex’s spread (the difference in price between securities) is three pips between the euro and the American dollar.

Trading tools available at iForex

One of the most attractive things about iForex is its many educational tools designed to help the individual who is new to forex trading – or to investing in general – to learn the ins and outs of the trade. These six tools, each of which is in PDF form, are:

  1. Simon Says Trade – gives all the basics of forex trading
  2. Improve Your Style with Moving Averages – how to use this to make the best trading decisions
  3. Profit from the News
  4. the Trader Guide – how to open your first few trades on your own
  5. Common Trading Mistakes – Learning the pitfalls can help avoid them.
  6. Learn the Lingo – There are always terms peculiar to any human venture.

One must register to get the full edition of any of these items.

Posted in Personal Finance | Comments Off

Young learners of Personal Finance

Managing the Personal finance is such important thing in our lives but most of us are not careful about this subject. We earn a lot of money and we spend more than that. In this present age what we earn is not enough because we are not too careful about our personal finance and saving, we are not careful to make the best possible use of our recourses.

Budgeting, saving, investing play such important role in our lives but do we care about these thing; even if we do little bit of these things does that enough? Are we aware and careful about our personal finance, budgeting and savings? I think not really…. My farther earned lot of money but still felt shortage of it; but why? Because our previous generations and even we don’t thing about savings and investing money carefully.  We spend so much on things that we don’t really need.

This is such a huge and important subject but personal finance has never been taught in our schools and colleges. Now if this has been thought from our childhood don’t you think we would be more responsible and careful about money and our budgeting?

I came across a video and it is wonderful to see that these people take initiatives to teach out generation Next about the personal finance, budgeting, savings, investing. Hope we will have a more careful and responsible generation-X. Check it out..

Posted in Personal Finance | Tagged , | Comments Off

Small Business Loans Don’t Have to be Complicated

There are a number of places to find new business capital including friends and family, credit cards, or sites like esmallbusinessloan.com. Ultimately though, finding capital is not the easiest of tasks for small business owners which are why precautionary preparation is generally recommended. Without the proper preparation, a small business owner will severely decrease the chance that he or she will actually be awarded the funding.

Thankfully, other business owners have taken the plunge with both success and failure. From those trials and tribulations, I have compiled a basic set of guidelines for small business owners looking for financial help.

Be Sure to Provide Accurate, Detailed Information

It never fails; banks will always want the most accurate information when small business loans are involved. The rep from the bank will want to know exactly what the funds they are providing you with will be used for. They will also want to know your long-term plans for the funds; in other words, what are your goals for the business venture.

As an example, let’s look at a bakery owner who wants to add a new oven to their kitchen arsenal. This oven would be able to double production which, in return, would result in increased profits. However, before getting a loan to purchase this new piece of equipment, the loan representative will want quotes on the overall cost of the oven, an idea on the amount of capital you need for the purchase, and of course, projections on future growth.

When it comes to Financial Information, Don’t be Stingy!

Quite simply put; be prepared to share all of the financial information you have gathered with the loan representative. Lenders will want to be that nosy best friend that has to know every little detail. These details include your personal financial details, company background, and how you plan to expand your company’s growth in the future. Providing all of this information will give the loan representative a much clearer picture of your overall financial predicament, and a clearer picture will work wonders at reducing the length of time it takes to finalize the loan agreement.

Less is More? Nonsense!

When applying for a small business loan, a good plan of attack would include compiling a well-researched list of lenders. A good minimum would be five lenders. Now approach the first lender on your list and start there. If approved, don’t settle! Instead, keep migrating down the list to see if you can obtain a better deal. If your loan agreement is denied, then keep trying and use the denial as a foundation to learn from. What did you do wrong? Where could you improve? Use those mistakes to assist you in your next loan approach.

Never Fear, Help is Here!

Most small business owners dramatically neglect the phenomenal resources that are already available. One of the best resources—the Small Business Administration (SBA)—offers a diverse array of excellent help for small businesses. As far as a business loan is concerned, the SBA employs counselors that can assist you with the overall process. While SBA is a resource itself, it also can provide you with many other resources. Check out their website at www.sba.gov.

Local is Usually Better

There are lending institutions set up the world over, and the major lenders may not be set up in your hometown, there are usually great local institutions that are just as good, if not better. Local lenders are oftentimes much better equipped to assist you and your business prospect because they know the territory much better.

Posted in Loans | Tagged , | Comments Off

How to Upscale your Business

Starting a business is never easy. Unless you’re lucky enough to win The Apprentice or score an investment on Dragon’s Den (complete with a Dragon’s presence to boost interest in the company), most people need to work their way from the bottom of their field upwards. The majority of businesses start out as little sole trader endeavours, with only a handful of staff, if any at all.

all

This steep learning curve extends through all areas of the business: from the buying and storing of stock, to dealing with suppliers and customers, right through to handling the end of year accounts. What was once a simple tax return can quickly become problematic. Making the transition from small to medium isn’t easy, but there are a few things that can make it smoother.

1. Ensure everyone’s got a correct and legally binding contract drawn up. This may seem obvious but many staff who initially might have been hired on a casual basis need to be sure that they know all their rights. It’ll also prevent any potentially costly disagreements further down the line regarding holiday entitlements and sick pay etc.

2. Update the accounts procedures. Making sure that someone fully competent with Sage or a similar payroll system is essential. Make use of online payroll systems to future-proof the company, it also means that if the office space is still limited while the company expands that the accounts can be completed at any location.

3. Consider the premises and decide if an upgrade is in order. Running a business from what is essentially a broom cupboard might be fine when you’re a one man band, but when the client numbers increase it’s not ideal for business meetings. And don’t forget location is just as important as size – maybe more so. Better to be smaller in a nice postcode than bigger in a rough one.

These are just the absolute basics to get right. It’s important to upsize organically and make sure the essentials are sorted before beginning on anything more complicated, like hiring more staff en masse. Get the business plan in order and be sure that you can walk before you try to run.

Many companies expand too quickly and without the correct infrastructure beneath them, risk busting before they can boom. Who knows, perhaps one day you’ll be the one hiring your own apprentices, and becoming an angel investor for other entrepreneurs.

 

Posted in Personal Finance | Tagged | Comments Off

Keeping a Building Project on Budget

Investing in bricks and mortar is often considered one of the safest places to keep your money (as ‘safe as houses’ some might say). One of the quickest ways to create equity in a building is by updating the infrastructure and ensuring that developments and improvements are fitting to the site and executed to the highest standard.

allfi

Ensuring that a comprehensive budget – with a minimum 10% contingency allowance – is established from the beginning is absolutely essential. A skilled and experienced project manager may seem like an expensive extra but don’t be fooled. The experience and knowledge a seasoned project manager can bring can actually save money elsewhere.

Surprisingly, one area that is often overlooked by investors is the quality of a building’s roof. Paying for an additional structural survey could prove invaluable as a new roof is a costly problem. That said, discovering a problem with the roof in advance places the buyer in a strong position to haggle down the price. With a lower starting price, the equity that can be created is increased, and replacing a dodgy roof is actually a simple way to improve a building’s market price.

Ditto, a jungle of a back garden or outdoor space will cause the asking price to drop dramatically. Replace tired and broken concrete slabs with smart new decking, that will appeal to buyers and estate agents alike. Again, ensure there’s a sensible and realistic budget set aside for these jobs. Contact a specialist like ArborForest Products to increase the ‘green credentials’ of a job too, again this adds value in the eyes of any future buyers.

Ultimately, the old adage that time is money is never truer than on a building site. Setting achievable deadlines and making sure that the project manager cracks the whip with all contractors is absolutely paramount to prevent the project running over budget at a spiralling rate. Each extra day on site incurs further costs so ensure that daylight is maximized and all weather conditions have been accounted for in advance – summer downpours aren’t exactly uncommon so create contingency plans to avoid wasted time.

The most important thing to remember however is to make sure the build, and all staff and contractors involved, are fully insured. Accidents on building sites are unfortunately still common, and watching the budget disappear down the drain on a personal injury claim from an injured contractor isn’t ideal. It may involve a little expenditure now, but it’ll ensure no expensive surprises later on.

Posted in Personal Finance | Tagged , | Comments Off