Ethereum broker in india
Coinbase is one of the most popular methods for buying ethereum. The exchange is one of the oldest around and has been active since 2012.
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Best ethereum exchange reviews & comparison
By: ofir beigel | last updated: 11/02/20
As ethereum becomes more and more popular, exchanges are including ether (ethereum’s currency) in their currency pairs. In this article I’m going to go over the different ethereum exchanges available and list the various things you need to take into account before choosing an exchange.
Ethereum exchange guide summary
In order to buy or sell ethereum you’ll need to find an ethereum exchange. When choosing an ethereum exchange it’s important to differentiate between 3 different types of exchanges: brokers, trading platforms and P2P marketplaces.
Here are my top 4 picks for the best ethereum exchange by category:
*etoro users: 75% of retail CFD accounts lose money. Your capital is at risk. Etoro US users – cfds are not available for US users. US users can only trade (long) real assets without leverage.
If you want a detailed explanation about the different types of exchanges and to read summarized reviews of the different exchanges keep on reading. Here’s what I’ll cover:
1. How do I buy ethereum?
In order to buy ethereum you’ll need to:
- Find an ethereum exchange
- Open an account
- Deposit funds
- Exchange your funds for ethereum
- Withdraw the ethereum to your own wallet (optional but recommended)
2. Ethereum exchange types
Before you choose an ethereum exchange it’s important to get familiar with the different exchange types out there.
Trading platforms
Connect buyers and sellers automatically through an online website. The buyer states the requested price and the platform finds a seller that meets the bid. No direct communication is done between the buyer and seller. Trading platforms are usually the cheapest option when it comes to fees but are also much more complicated than other options.
Brokers
A website that sells you ethereum directly for a premium. Brokers are usually the easiest way to buy ethereum but are also more expensive.
P2p marketplaces
Websites that connect buyers and sellers directly so they can negotiate on a price. While these sites usually allow for a wider array of options (payment methods, supported countries, etc.) they also hold a large amount of risk since you’re buying from an anonymous individual.
3. How to choose an ethereum exchange?
When examining an exchange you should take into account several factors:
- Fees – what are the deposit, withdrawal and transaction fees the exchange collects?
- Countries supported – is the exchange supported in your country?
- Payment methods accepted – does the exchange accept credit cards, wire transfers or even paypal?
- Exchange reputation – how long has the exchange been around? Is it transparent about its business?
- Level of verification needed – is there a long verification process or can you buy ethereum right away?
- Reliable support – how responsive is the exchange support? Can you chat with them or just email them?
Keep in mind that no exchange is perfect and usually an exchange will excel in one field and lag behind in another.
4. Best ethereum broker exchanges
CEX.Io
CEX.Io is a fincen registered bitcoin and ethereum broker that also supplies a complete trading platform. The exchange accepts credit cards, wire transfers and SEPA transfers if you live in the eurozone. The site has a very easy to use and intuitive interface that allows you to buy ETH relatively quick. If you feel comfortable using the site’s trading platform instead of the brokerage service you can save a lot in fees. You can read my full CEX.Io review here.
Coinmama
Coinmama has been around since 2013 and supplies a brokerage service to both bitcoin, ethereum and a variety of other cryptocurrencies. The exchange will buy or sell ethereum directly at a premium. They also put an emphasis on quality customer support. Coinmama accepts credit and debit cards, as well as SEPA transfers for ethereum purchases. If you have the option to pay via SEPA you’ll decrease fees dramatically. You can read my full coinmama review here.
Coinbase
Coinbase is one of the most popular methods for buying ethereum. The exchange is one of the oldest around and has been active since 2012. Coinbase supports 100+ different countries including the US, canada, UK, and australia.
Coinbase can act as a broker through its direct and easy buying service, or you can use the coinbase pro exchange if you’re a more experienced user. You can read my full coinbase review here.
Bitpanda
Bitpanda is a bitcoin broker that also specializes in buying and selling ethereum within the eurozone. The company was founded in late 2014 and since has grown to become one of the more popular options to purchase bitcoins around europe. The company has many payment options and delivers coins to your wallet in a fast and secure manner. You can read my full bitpanda review here.
5. Best ethereum trading platforms
Etoro
Etoro is a trading platform that allows trading in several cryptocurrencies such as ethereum, bitcoin, ripple, bitcoin cash, dash and more. It is very well suited for people who are looking to make money from changes in ethereum’s price but not so much for people who want to actually hold their ether in their own wallet.
The reason for that is that withdrawing your coins to your private wallet involves sending it first to your etoro wallet, which may take up to 3 days.
Important:
Keep in mind that cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. So keep in mind that your capital is at risk. US users – cfds are not available for US users. US users can only trade (long) real assets without leverage.
Bitstamp
Bitstamp has added the ethereum trading pair in late 2017. The exchange has been around since 2011 and is one of the oldest and most respectable exchanges around. The platform supplies two options for buying ethereum – using the trading platform or using the brokerage service. The trading platform is cheaper but harder to use for inexperienced users, while the brokerage service is a more expensive “one click” solution. You can read my full bitstamp review here.
Binance
Binance is a crypto to crypto trading platform that also supplies a brokerage service for buying cryptos with a credit card. This means that you can either use your credit card to buy ethereum or you can deposit any other cryptocurrency and exchange it for ethereum. The fees for using the brokerage service are of course much higher than the 1% transaction fee the trading platform charges. You can read my full binance review here.
Changelly
Changelly was established on 2016 and within a year has managed to attract over 100,000 users which is pretty impressive. The exchange allows you to trade one cryptocurrency for the other. If you own bitcoin you can almost instantly trade it for ethereum.
From personal experience it takes around 30 minutes to get a coin traded from one type to another and the interface is very clean and intuitive. However don’t use the exchange to buy ethereum with fiat currency since the fees are extremely high. You can read my full changelly review here.
6. Best ethereum P2P exchanges
Localcryptos
Localcryptos is a P2P marketplace where buyers and sellers of ETH can meet online and trade similiar to localbitcoins. Although this platform gives a wide variety of payment methods it’s important to remember that you’re dealing with individuals and not corporations.
This means that the chance a deal can go wrong is higher and it’s important to take that into account. As a general rule it’s best to keep this option for when all other options fail.
7. Conclusion
As ethereum becomes more popular the options for buying it increase dramatically. The main thing when choosing an exchange would be to make sure your country and payment method are supported. For beginners it’s better to use brokerage services and pay a bit of a premium while more advanced users should trade on trading platforms and save on fees.
If you have additional comments or questions feel free to leave them in the comment section below.
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Best bitcoin brokers for india
Top cryptocurrency brokers + their deals for you:
But at first we need to clarify what you're seeking:
1. Do you want to buy bitcoin because you don't own cryptos yet?
Or
2. Do you already have bitcoin and want to trade BTC against fiat money or against altcoins?
1. Exchanges to buy bitcoin in india
If you want to become a bitcoin owner as an indian citizen you need to use a bitcoin exchange to buy BTC with fiat money (by credit card or wire transfer):
There is a range of other bitcoin exchanges which have stopped INR deposits and withdrawals due to the governmental regulations of april 6, 2018 . Therefore above we are only mentioning the ones that might still work. It might happen that your bank doesn't accept bitcoin related transfers in case they notice that due to a certain keyword in the transaction details.
2. Brokers to trade bitcoin in india
If you already own bitcoin and want to trade BTC/USD or cryptocurrencies against each other for profit, then you want to use a broker platform:
Bitmex has become the most popular professional bitcoin broker in relatively short time. The reason might be that the platform is fairly uncomplicated - signups are quick and anonymous (the is no option for an ID verification) and the platform has a highly professional trading engine providing all advanced order types. Also withdrawals aren't limited at all.
Primexbt is a relatively new but highly professional bitcoin margin broker which gained popularity very quickly. Their trading platform is easy to use and very intuitive and they don't ask for any ID verification at all. Their live chat customer support is very helpful and responds within couple of minutes.
Binance is the number one altcoin trading site. They have a big altcoin portfolio. All altcoins can be traded against bitcoin or ether. Binance allows deposits or withdrawals for all listed cryptocurrencies but no INR or any other fiat currency.
- Limit/market buy
- Limit/market sell
- Stop loss
- Trailing stop
- Take profit
- Iceberg orders
- TWAP
- Fill or kill
- Post-only order
- Hidden order
Bitfinex belongs to the largest international crypto brokers. Their altcoin portfolio is constantly growing and they have a professional trading engine with advanced order types and a very intuitive user interface. Altcoins can be traded against bitcoin or ether. Indian citizens can open an account and deposit and withdrawal cryptocurrencies only, like at all unregulated crypto brokers.
Bitcoin and cryptocurrencies in india
India bans all business with cryptocurrencies
Spring 2018: india has banned all transactions with cryptocurrencies. At the same time, the central bank is examining the creation of a state digital currency.
The monetary guardians cited concerns about consumer protection, market integrity and money laundering as justification. "although the international response to cryptocurrencies is not uniform, there is a global consensus that these currencies can adversely affect money laundering laws, regulation and thus the integrity of the market and financial flows," said BP kanungo, governor of the reserve bank of india.
At the same time, however, the central bank is considering introducing its own cryptocurrency. An interdepartmental group had been formed. The group should prepare a report by the end of june that analyses the "desirability and feasibility of introducing a digital currency for the central bank".
The central bank's consideration of creating its own digital currency is particularly noteworthy against the background that the government has set as its goal the creation of a cashless society. In this context, a state cryptocurrency would only be consistent.
At the end of 2016, india surprisingly invalidated the two largest banknotes, causing months of chaos and negative economic growth.
Thailand had also banned financial institutions from trading in cryptocurrencies and announced new regulations last week. Some asian countries, some of which are crypto strongholds - such as china and south korea - have recently emerged as pioneers of stricter regulation.
Google, facebook and twitter had also banned advertising for cryptocurrencies like bitcoin from their portals. However, just a few months later, facebook opened the doors for crypto ads again, at least for certain products like educational material. Ads for icos, trading services and related topics are still disallowed.
The regulations are an obvious attempt of the indian government to keep the control over money.
Bitcoin as an answer to governmental control of money
Such political measures, of course, always provokes counter-movements. Bitcoin is the best answer for people who don't agree with the authorities since it is a digital currency that cannot be controlled by governments. Many people see this as positive because it is a way to invest money in something that cannot be accessed by authorities.
In addition, bitcoin is not inflationary and independent of the large global financial bubble of fiat money. Therefore, people want to have the opportunity to buy and trade bitcoin, even if the government should prohibit it for the above reasons.
Bitcoin exchanges and brokers in india
In india, the regulatory loop for crypto enthusiasts, traders and exchanges had become increasingly tight. Earlier this year, indian finance minister arun jaitley made it clear to the indian parliament that he did not recognise bitcoin as a currency.
Some time later, indian tax offices sent questionnaires to investors in cryptocurrencies - with the intention of making back taxes. In the course of this, the government formed a committee to discuss possible regulations for dealing with bitcoin and other cryptocurrencies.
As cryptocurrencies are still not recognised as a means of payment, companies began to use a loophole. They put the unocoin exchange between themselves and the customers who was responsible for exchanging crypto for fiat.
Contra bitcoin: fraud, inner values and ponzi
But the indian financial regulator also closed this loophole - RBI had instructed the stock exchanges in april to close all crypto transactions within three months. After the deadline of 6 july, the indian bitcoin community had suffered accordingly. The number of transactions fell sharply. But in the course of these regulatory restrictions, the stock exchanges decided to go to court.
Now representatives of government, central bank and brokers are facing each other in court. The reasoning should come as no surprise. It is the central bank, for example, that is leading the way in protecting against investors. Here they want to protect against fraud and money laundering.
Another problem is the lack of internal currencies – cryptocurrencies are not secured by assets. Similar arguments come from government representatives - who even call bitcoin a ponzi scheme.
Pro bitcoin: transparency and the indian constitution
The cryptocurrency exchanges, on the other hand, refer mainly to the indian constitution.
They also refer to article 14, which prohibits discrimination and provides the same protection under the law for all.
The crypto exchanges also say that they have largely complied with the anti-money laundering directives, which help the authorities to follow the path of money. Now, however, a large part of the trade has shifted to cash transactions, which can lead to illegal activities, a result that has even recently been recognised by the RBI.
Finally, the crypto exchanges have declared their willingness to the central bank and the authorities to ensure greater transparency.
When it comes to bitcoin brokers there is generally no problem with regulations. The ones that aren't involved in fiat money transfers aren't affected by regulations. So even as an indian citizen there should be no problem to trade bitcoin and cryptocurrencies on the broker platforms mentioned above.
Best ethereum exchange reviews & comparison
By: ofir beigel | last updated: 11/02/20
As ethereum becomes more and more popular, exchanges are including ether (ethereum’s currency) in their currency pairs. In this article I’m going to go over the different ethereum exchanges available and list the various things you need to take into account before choosing an exchange.
Ethereum exchange guide summary
In order to buy or sell ethereum you’ll need to find an ethereum exchange. When choosing an ethereum exchange it’s important to differentiate between 3 different types of exchanges: brokers, trading platforms and P2P marketplaces.
Here are my top 4 picks for the best ethereum exchange by category:
*etoro users: 75% of retail CFD accounts lose money. Your capital is at risk. Etoro US users – cfds are not available for US users. US users can only trade (long) real assets without leverage.
If you want a detailed explanation about the different types of exchanges and to read summarized reviews of the different exchanges keep on reading. Here’s what I’ll cover:
1. How do I buy ethereum?
In order to buy ethereum you’ll need to:
- Find an ethereum exchange
- Open an account
- Deposit funds
- Exchange your funds for ethereum
- Withdraw the ethereum to your own wallet (optional but recommended)
2. Ethereum exchange types
Before you choose an ethereum exchange it’s important to get familiar with the different exchange types out there.
Trading platforms
Connect buyers and sellers automatically through an online website. The buyer states the requested price and the platform finds a seller that meets the bid. No direct communication is done between the buyer and seller. Trading platforms are usually the cheapest option when it comes to fees but are also much more complicated than other options.
Brokers
A website that sells you ethereum directly for a premium. Brokers are usually the easiest way to buy ethereum but are also more expensive.
P2p marketplaces
Websites that connect buyers and sellers directly so they can negotiate on a price. While these sites usually allow for a wider array of options (payment methods, supported countries, etc.) they also hold a large amount of risk since you’re buying from an anonymous individual.
3. How to choose an ethereum exchange?
When examining an exchange you should take into account several factors:
- Fees – what are the deposit, withdrawal and transaction fees the exchange collects?
- Countries supported – is the exchange supported in your country?
- Payment methods accepted – does the exchange accept credit cards, wire transfers or even paypal?
- Exchange reputation – how long has the exchange been around? Is it transparent about its business?
- Level of verification needed – is there a long verification process or can you buy ethereum right away?
- Reliable support – how responsive is the exchange support? Can you chat with them or just email them?
Keep in mind that no exchange is perfect and usually an exchange will excel in one field and lag behind in another.
4. Best ethereum broker exchanges
CEX.Io
CEX.Io is a fincen registered bitcoin and ethereum broker that also supplies a complete trading platform. The exchange accepts credit cards, wire transfers and SEPA transfers if you live in the eurozone. The site has a very easy to use and intuitive interface that allows you to buy ETH relatively quick. If you feel comfortable using the site’s trading platform instead of the brokerage service you can save a lot in fees. You can read my full CEX.Io review here.
Coinmama
Coinmama has been around since 2013 and supplies a brokerage service to both bitcoin, ethereum and a variety of other cryptocurrencies. The exchange will buy or sell ethereum directly at a premium. They also put an emphasis on quality customer support. Coinmama accepts credit and debit cards, as well as SEPA transfers for ethereum purchases. If you have the option to pay via SEPA you’ll decrease fees dramatically. You can read my full coinmama review here.
Coinbase
Coinbase is one of the most popular methods for buying ethereum. The exchange is one of the oldest around and has been active since 2012. Coinbase supports 100+ different countries including the US, canada, UK, and australia.
Coinbase can act as a broker through its direct and easy buying service, or you can use the coinbase pro exchange if you’re a more experienced user. You can read my full coinbase review here.
Bitpanda
Bitpanda is a bitcoin broker that also specializes in buying and selling ethereum within the eurozone. The company was founded in late 2014 and since has grown to become one of the more popular options to purchase bitcoins around europe. The company has many payment options and delivers coins to your wallet in a fast and secure manner. You can read my full bitpanda review here.
5. Best ethereum trading platforms
Etoro
Etoro is a trading platform that allows trading in several cryptocurrencies such as ethereum, bitcoin, ripple, bitcoin cash, dash and more. It is very well suited for people who are looking to make money from changes in ethereum’s price but not so much for people who want to actually hold their ether in their own wallet.
The reason for that is that withdrawing your coins to your private wallet involves sending it first to your etoro wallet, which may take up to 3 days.
Important:
Keep in mind that cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. So keep in mind that your capital is at risk. US users – cfds are not available for US users. US users can only trade (long) real assets without leverage.
Bitstamp
Bitstamp has added the ethereum trading pair in late 2017. The exchange has been around since 2011 and is one of the oldest and most respectable exchanges around. The platform supplies two options for buying ethereum – using the trading platform or using the brokerage service. The trading platform is cheaper but harder to use for inexperienced users, while the brokerage service is a more expensive “one click” solution. You can read my full bitstamp review here.
Binance
Binance is a crypto to crypto trading platform that also supplies a brokerage service for buying cryptos with a credit card. This means that you can either use your credit card to buy ethereum or you can deposit any other cryptocurrency and exchange it for ethereum. The fees for using the brokerage service are of course much higher than the 1% transaction fee the trading platform charges. You can read my full binance review here.
Changelly
Changelly was established on 2016 and within a year has managed to attract over 100,000 users which is pretty impressive. The exchange allows you to trade one cryptocurrency for the other. If you own bitcoin you can almost instantly trade it for ethereum.
From personal experience it takes around 30 minutes to get a coin traded from one type to another and the interface is very clean and intuitive. However don’t use the exchange to buy ethereum with fiat currency since the fees are extremely high. You can read my full changelly review here.
6. Best ethereum P2P exchanges
Localcryptos
Localcryptos is a P2P marketplace where buyers and sellers of ETH can meet online and trade similiar to localbitcoins. Although this platform gives a wide variety of payment methods it’s important to remember that you’re dealing with individuals and not corporations.
This means that the chance a deal can go wrong is higher and it’s important to take that into account. As a general rule it’s best to keep this option for when all other options fail.
7. Conclusion
As ethereum becomes more popular the options for buying it increase dramatically. The main thing when choosing an exchange would be to make sure your country and payment method are supported. For beginners it’s better to use brokerage services and pay a bit of a premium while more advanced users should trade on trading platforms and save on fees.
If you have additional comments or questions feel free to leave them in the comment section below.
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Bitbns truly impress me alot, I never expected an indian exchange to provide such a wide range of features with such flexibility. Their deposit system and customer service is the best in indian crypto market. It is a very secure platform with a genius team and multiple products.
Bitbns is for everyone
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Why bitbns?
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Automated buy and sell
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I entered the market with "crypto is a scam!" phrase and mindset. My first exchange was bitbns and i was pretty scared while investing but this exchange is very user friendly, easy to understand. Year after year the trust developed and by now believe me I dug into the whole team and was mesmerized how bitbns was created.
Bitbns is a part of buyhatke internet pvt. Ltd. - the parent organisation, which was incorporated in 2015. With 97 + cryptocurrencies listed at present, bitbns allows users to buy and sell cryptocurrencies at best available prices and offers ease of trading like no other cryptocurrency exchange. Some of the top cryptocurrencies one can trade on bitbns are bitcoin (BTC), ethereum (ETH), ripple (XRP), litecoin (LTC), binance coin (BNB), neo (NEO) and more.
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How to buy ethereum in india 2021? Complete guide for beginners
Ethereum is an open-source platform that uses blockchain technology to create and run decentralized digital applications or “dapps” that enable users to make agreements and conduct transactions directly with each other to buy ethereum in india 2021 directly without any middle man.
Ethereum is a global, open-source platform for decentralized applications. On ethereum, you can write code that controls digital value, runs exactly as programmed, and is accessible anywhere in the world.
Key elements of ethereum include:
- Ether: this is ethereum’s cryptocurrency.
- Smart contracts: ethereum allows the development and deployment of these.
- Ethereum virtual machine: ethereum provides the underlying technology — the architecture and the software — that understands smart contracts and allows you to interact with it.
- Decentralized applications (dapps): ethereum allows you to create consolidated applications, called decentralized applications. A decentralized application is called a dapp (also spelled DAPP, app, or dapp) for short.
- Decentralized autonomous organizations (daos): ethereum allows you to create these for democratic decision-making.
How to buy ethereum?
The most straightforward way to get ether (ETH) might be to buy it on an exchange or through a brokerage service. Depending on the service, you might be able to make a bank transfer, pay by credit card, or use paypal. Enjoy fast verification and high-speed trading on this well known indian cryptocurrency exchange like buyucoin.
Step by step guide for beginners, hoe to buy ethereum in india?
Buyucoin is an exchange that provides buying and selling ethereum in india as well as other cryptocurrencies. Below is a step by step guide to buying ethereum via buyucoin:
Step 1 — open a digital wallet
A digital wallet is where you hold your cryptocurrencies and interacts with others via blockchain technology. There are many providers of digital wallets, however, it is important to make a deep research before you decide which one is the best for you. Currently, the most popular digital wallets provider is buyucoin.
Step 2 — register & open an account
once you enter buyucoin/signup, register and open an account that can provide you with their service. Select the type of your account either individual or corporate. Select your country and agree to the terms and conditions register your account for crypto trading.
Step 3-KYC
KYC and AML are mandatory for indian jurisdiction. Your data is saved and encrypted and is stored in indian data centers only. You will be redirected to a different URL to complete your KYC. Please be ready with your recent selfie. You will need the images of your pan card. You will need the mobile number with you which is linked with your aadhar.
Step 4-google 2 step verification
to use 2FA you will have to install an authenticator app on your smartphone or tablet. Once enabled you will be asked to provide an additional six-digit one-time password along with your email and password every time you login to your BF account. This works only when signing in with email and password. When using facebook or linkedin you can enable 2FA with your social media provider settings.
Step 5-add bank details
add the credentials of your bank name, holder account name followed by account number, and IFSC code details.
Trade ethereum
As one of the three largest cryptocurrencies in the world, investors can trade ethereum easily on fiat exchanges. Some investors who want to trade multiple currencies or have the option to convert other currencies easily into ethereum may want to consider the C2C exchanges more closely.
- Consider what you want to achieve, and set daily weekly, and monthly goals
- Decide which markets you’re going to trade, and learn about them thoroughly
- Set out how much you’re willing to risk on each trade, and how much you’re willing to risk overall
- Use that information to determine your risk-reward ratio
Can I use regular money to buy ethereum?
Yes, you can use regular money to buy ethereum using the buyucoin platform. Likewise, bitcoin is great at being a store of value and a way to make payments across borders. But there’s no good way to create smart contracts on bitcoin. Ethereum is great at using smart contracts. This is why ethereum is a good investment if you’re interested in investing in cryptocurrencies beyond bitcoin.
Getting an ethereum wallet
Ethereum wallets are applications that let you interact with your ethereum account. Think of it as an internet banking app — without the bank. A full node wallet requires you to download the entire ethereum blockchain to operate. Essentially, this transforms your computer into a node, an entity that supports the entire network by updating the blockchain via reaching an agreement on the legitimacy of transactions with other nodes.
The reason why it is so safe is that it gives complete control to you, the user. You do not need to worry about the well-being of a piece of hardware, nor do you have to worry about hackers or any piece of malware. You just need to take care of a piece of paper.
Ethereum exchanges in india
Ethereum is a decentralized exchange with real-time trading and high transaction throughput where you can start trading instantly. This crypto coin is of high interest for the individuals who would like to exchange ETH to USD and vice versa to be able to use it on the ethereum blockchain.
That blockchain network is not a centralized database; it’s a decentralized network in which the participants of the network (the miners) validate (verify) all the transactions that are happening using the smart contract on the blockchain network. So any transaction or action happening on a twitter-type application that has now been transformed will be a decentralized transaction.
Ethereum mining
As a result, most of ethereum mining equipment is now able to operate with a profit margin above 90% even at an electricity cost of $0.05 per kilowatt-hour. … at the time, ETH was changing hands at around $320 and daily mining profitability was about $3.27 per 100 MH/s.
As of wednesday, october 07, 2020, it would take 39.4 days to mine 1 ethereum at the current ethereum difficulty level along with the mining hash rate and block reward; an ethereum mining hash rate of 500.00 MH/s consuming 950.00 watts of power at $0.10 per kwh, and a block reward of 2 ETH.
Currently, some state-of-art ethereum mining equipment, such as innosilicon’s A10 pro with a computing power of 485 megahashes per second (MH/s), can generate $12.92 in daily revenue at ethereum’s current price and mining difficulty.
Once you’ve successfully mined a block, you are entitled to receive a three ETH reward. Along with the reward, miners receive fees associated with the transaction. Those fees serve as another incentive for miners to do their job, as many miners will prioritize transactions with higher fees.
Conclusion
Ethereum is a technology that completely revolutionizes the way transactions are carried out. Thanks to smart contracts, it is possible to replace all existing standard contracts to improve transaction security, limit costs, and decentralize the world.
Forex brokers that accept ethereum
Compare forex brokers and trading platform that accept ethereum for deposits and withdrawals.
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Liteforex (liteforex.Com) is an international ECN forex broker. Trade a wide range of markets on metatrader 4 or 5. Liteforex accepts a wide range of deposit methods, including bitcoin, monero and other cryptos.
- Markets: forex (CFD), indices (CFD), metals (CFD), energy (CFD)
- Platforms: metatrader 4, metatrader 5, copy trading, mirror trading
- Regulators: E.U.
- Incorporated: 2005
Classic account: trade forex on floating spreads from 2 pips on MT4 or MT5. Get started from a low $50 deposit. Market execution with no requotes.
ECN account: trade forex on floating spreads from 0 pips plus commission on MT4 or MT5. Get started from a low $50 deposit. Get market execution with no requotes. Liteforex pays 2.5% interest per annum on the balance of your account.
LQDFX (LQDFX.Com) is an international forex broker and CFD provider headquartered in the marshall islands. It delivers STP execution on MT4 across 71 currency pairs, indices and commodities.
- Markets: forex (CFD), indices (CFD), metals (CFD), commodities (CFD)
- Platforms: metatrader 4, mirror trading
- Regulators: marshall islands
- Incorporated: 2015
Micro account: trade up to 71 currency pairs as well as cfds on metals, commodities and indices through MT4 from a low $20 deposit. STP trading with no requotes.
Gold account: trade up to 71 currency pairs as well as cfds on metals, commodities and indices through MT4. STP trading with no requotes.
Gold account [islamic]: trade up to 71 currency pairs as well as cfds on metals, commodities and indices through MT4. STP trading with no requotes. Swap-free account only available to clients of muslim faith.
ECN account: trade up to 71 currency pairs as well as cfds on metals, commodities and indices through MT4. Get depth-of-market information with this ECN account.
VIP account: trade up to 71 currency pairs as well as cfds on metals, commodities and indices on even tighter spreads. This account has no restrictions on the maximum trade size.
Liteforex (liteforex.Com) allows you to fund your account from as little as $10 when you deposit through euthereum. It also supports other crypto-currencies and traditional funding methods. We like that liteforex charges no fees for deposits and will even refund any fees or commissions charged by third party vendors upon funding your account.
LQDFX (liteforex.Com) also allows you to fund your account from just $20 through ethereum. It also accepts deposits through bitcoin, bitcoin cash, litecoin and ripple. LQDFX charges no fees for deposits, however, it won't reimburse third party fees. Funds deposited through ethereum and other digital currencies are immediately available.
Ethereum (ETH) is digital money and the second largest crypto-currency platform by market capitalisation. However, unlike bitcoin, it provides a decentralised platform for smart contracts. Ether is the currency generated by ethereum miners as a reward for computations performed to secure the platform.
Best execution
MT4 floating - instant execution
Trade 70+ currency pairs, spot indices, energies, metals and shares on floating spreads and instant . More trade 70+ currency pairs, spot indices, energies, metals and shares on floating spreads and instant execution. All eas are allowed.
- $500 deposit
- 1:500 leverage ?
- 1.71 pips EUR/USD
Best conditions
Avatrade account [BVI]
Trade 55 currency pairs on fixed spreads, plus cfds on crypto-currencies, stocks, indices, bonds and. More trade 55 currency pairs on fixed spreads, plus cfds on crypto-currencies, stocks, indices, bonds and commodities. Avatrade accepts all metatrader eas except those with a focus on arbitrage.
- $100 deposit
- 1:400 leverage ?
- 0.9 pips EUR/USD
Best platform
Premium account
Trade forex as well as cfds on cryptocurrencies, shares, indices and metals on floating spreads . More trade forex as well as cfds on cryptocurrencies, shares, indices and metals on floating spreads without commission. This account, designed for experienced traders, allows you to trade up to 60 lots per position.
- $100 deposit
- 1:500 leverage ?
- 1.2 pips EUR/USD
Pro account
Professional account [EU]
Trade 55 currency pairs on fixed spreads, plus cfds on crypto-currencies, stocks, indices, bonds and. More trade 55 currency pairs on fixed spreads, plus cfds on crypto-currencies, stocks, indices, bonds and commodities. Avatrade accepts all metatrader eas except those with a focus on arbitrage.
- $100 deposit
- 1:400 leverage ?
- 0.6 pips EUR/USD
Risk warning: cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 66-89% of retail investor accounts lose money when trading cfds. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.
TOP BROKERS
Top 3 brokers in india 2020
Top 3 brokers in india 2020
Top forex brokers 2020
Top forex brokers 2020
Weekly forecasts & technical analysis
Weekly forex & crypto forecasts
BTCUSD weekly outlook and bitcoin fundamentals , 9th january 2021
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BTCUSD weekly outlook and bitcoin fundamentals , 23rd december 2020
What is forex market?
Forex is a decentralized market that enables participants to exchange, sell and buy currencies. It is composed of financial institutions, central banks, hedgers, FX brokers and individual traders. This global market facilitates the trade of over 5 trillion dollars per day, making it one of the largest financial markets in the world. The forex market stays open 24 hours a day for 5 days a week i.E. Trading hours begin at 22:00 GMT (sydney) on sunday and remain open till 22:00 GMT (new york).
The currencies of the market are traded in pairs and are divided into three different categories, namely: major, minors, and exotics. The majors are the most traded currency pairs with highest forex rates, these include euro/US dollar, US dollar/japanese yen, british pound/US dollar and US dollar/swiss franc. The minors are those pairs that are not traded against US dollar and these are euro/british pound, british pound/japanese yen, swiss franc/japanese yen, british pound/canadian dollar, and euro/australian dollar. The exotic pairs combine major currency along with the currency of developing economy, common examples are US dollar/ hong kong dollar, australian dollar/mexican peso and euro/turkish lira.
As currencies in the forex market are traded in pairs, the market does not have an obsolete value for currency, rather it sets a determining value by setting market price of a particular currency that will be paid for the other. This means the average forex rates of 1 USD would be equivalent to X amount of JYP, CAD or CHF. Hence, the essence of forex trading lies on the currency pair that you choose.
Forex trading in india
The realm of forex trading in india is as diverse as it can be. Most of the traders are inclined towards those currencies that have had a benchmark against INR. Some of the key pairs that investors love to trade are:
- EUR/INR
- USD/INR
- JYP/INR
- GBP/INR
You can trade with the help of indian brokers who provide a platform to trade on various exchanges such as bombay stock exchange (BSE), national stock exchange (NSE) and MSC-SX because these exchanges give 100% access to derivatives of currency. At times, indian traders are not able to trade USD/YEN or EUR/USD, as the RBI (central banks) may lose quite a lot of funds when the trader loses. This is because, the investor has to purchase more funds, and this increases the present account deficit.
Today, not just established intuitions or investors, but even small-scale participants are able to reap maximum benefits from forex india. With the help of secured web technologies, proper information about the forex market, even individuals are able to speculate the movement of currencies and place their winning order in a seamless manner. Even though trading currency is not free from risks, yet the derivatives are able to efficiently manage the risk and feature spectacular benefits such as:
-speculation: if the fundamental analysis indicates that there would be a steep rise in the price of oil which would impact the import bills of india, then you must trade with INR/USD with a prediction that the value of INR would depreciate with time. On the other side, if you predict stronger exports from certain sectors then you should probably sell USD/INR.
-hedging: when you want to improve your FX exposure then you can consider purchasing a major currency pair i.E. INR/USD and then fix a payout rate. Remember: in forex india such a type of hedging should only be performed when you know that USD/INR is going to depreciate.
-leverage: brokers let you place your trade using leverage, which is a unique feature of forex trading without actually having to own them. Let's say your leverage is 10:1 then for every 1 INR that you use the value of the trade would be equivalent to 10 INR.
How can I start forex trading?
-A reliable online forex broker and
-A suitable forex trading account
There are innumerable brokers who guarantee to come up with exceptional services, however only a few are able to stand upon the claims that they make. Instead of choosing any random broker that you come across, research more about the company, the services that it has in store (education and expert help in the form of ebooks, PDF and articles). You can even consider the experience of the broker and how well it has been its business so far. These are the best indicators to determine whether you are about to choose a reliable forex broker for online trading or not.
Next, the type of account that you choose is as important as the broker. Most of the trading accounts are categorized into different types based on the assets that you get to trade, leverages, margin, lot size and commission fees. If you are a beginner who is new to the world of online trading then it is advised to opt for the initial accounts designed for novice traders. To open such accounts you need as less as 500 INR. While professional traders can opt for the advance accounts that offer complete access to the services of the broker.
What are cryptocurrencies and why to trade?
Cryptocurrencies are virtual currencies that are based on the framework of cryptography for creating additional units, securing transactions and verifying transfer of assets. Unlike any other currency, these are not controlled by central banks or the government and thus operate as one of the largest decentralized electronic currency network that have evolved to become an alternative to the traditional currencies. ICO (initial coin offering) is a medium through which various cryptocurrencies are raised for new ventures.
Even though there are no regulatory authorities, still basic algorithms of the currency stipulate how the currency will be created and its advance rate. These currencies do have a limited supply and that is something that increases their value and demand. For instance, in bitcoins (BTC), a new coin is generated when miner discovers a new blockchain. Due to the complexity of mathematical algorithms, the generation of blocks have decreased significantly and this keeps the supply of coins limited.
With this it can be stated, that blockchain technology holds the ability to revolutionize the financial system of the globe. This is something that makes crypto-market a lucrative platform to trade on as:
Free market: the cryptocurrency market is a place with minimal regulations and restrictions, providing a pool of opportunities for traders from different parts of the world. Unlike any other currency market, this market stays active 24 X 7, allowing you to trade anytime and from anywhere.
Quick settlement: selling or buying stocks comes with a delay in terms of settlement time. However, such complications never happen in case of cryptocurrency as blockchain technology completes the process of settlement in no time.
No withdrawal limits: trading on cryptocurrency market is quick, fast and effective. Plus, you are able to withdraw all the profits that you make at once, as majority of the exchanges do not impose any sort of withdrawal limits on the trader.
Brokers offering cryptocurrency trading with bitcoin, ripple, ethereum and others
With the growth of cryptocurrencies to unimaginable heights, acquiring almost $190 billion dollar market capitalization by the end of this year. Its overall growth has not only been rapid but even had a widespread impact, leading to the development of new currencies, associated startups and major players becoming a part of the exchanges. As speculators and investors become interested in the sector, the demand for a certified broker turns out to be more important than ever. Here is a list of potential crypto brokers that you should look after:
1. IQ option
This particular broker offers something or the other for traders and cryptocurrency trading is one of them. Some of the currencies that you can find here are: ripple, bitcoin, ethereum, bitcoin cash, monero, ethereum classic, zcash, IOTA, litecoin, santiment, omisego and monero. Its large section of resources and tools combined with a user-friendly interface makes trading digital currencies a seamless experience. You can begin trading some of the best currencies of the crypto market just by opening an account, making the initial deposit and then choosing the currency that you want to trade. Read IQ option review
2. Binomo
This binary options broker delivers an impressive section of cryptocurrencies, indicating that soon peer-to-peer electronic cash would be similar to the common currencies used every day. It provides only one type of account called as the real account which can be opened with a minimum deposit of $10. Binomo review
3. Olymptrade
This is one of most trusted binary options broker that allows crypto-depositors to trade some of the major cryptocurrencies against other types of currencies, making it part of the list of crypto brokers that allow you trade digital coins against real currencies. It supports ethereum, litecoin, bitcoin cash, IOTA, dash,bitgold, monero, zcash, ethereum classic and bitcoin. Olymp trade review
Ethereum (ETH) vs. Bitcoin (BTC)
Bitcoin (BTC) that came into existence in 2009 stands to be the strongest cryptocurrency ever and is followed by the second most powerful currency- ethereum (ETH). Despite of being digital currencies, both of them are quite different from one another. For instance, the programming language that operates ETH is turning complete, while for bitcoin its core is based on stack of languages. Another noticeable difference between the both lies in the block time. Transactions in bitcoin price takes minutes for confirmation, while in case of ETH it is confirmed in seconds.
On a general note, the purpose of each currency is different from the other. While the agenda of bitcoin india was to provide an alternative to the traditional currency, as a result of which it became a medium of transactions, ethereum was established to perform peer-to-peer applications and contracts via its signature currency cycle called as ether. Though they function as the premier cryptocurrencies of the market, yet the purpose of ethereum price was not to be an alternative to cash rather monetize the functioning of ETH so to aid in the development and distribution of apps (dapps).
Therefore, it can be concluded that ethereum is a form of advancement from the classic blockchain technology of bitcoin india. Yet, the rise in its market cap and prominence brings makes a stiff competition for other contenders in the crypto market. In fact, like bitcoin even ethereum price had a surge, making its overall market cap more than litecoin and ripple altogether, even though it's still far from the race of defeating bitcoin price. Hence, ethereum and bitcoin are structured with blockchain technology that have established their mark in the market, yet their driving force remains to be different.
How to buy ethereum – beginner’s guide
By: ofir beigel | last updated: 11/19/20
Ethereum is a DIY blockchain platform with smart contract functionality. It’s a platform for developers that was invented by vitalik buterin in 2013 to build decentralized apps. The platform has gained immense popularity and so did its currency, ether. This post will cover the best ways to buy ether online.
Don’t like to read? Watch our video guide instead
How to buy ethereum summary
- Get an ethereum wallet
- Find your ethereum address
- Go to CEX.Io and choose the amount of ether to buy
- Enter your ethereum address and payment information
That’s it! The ethereum coins (i.E. Ether) will be sent to your wallet within a matter of minutes. If CEX.Io doesn’t work out for you, here are the top exchanges for buying ether online:
*etoro users: 75% of retail CFD accounts lose money. Your capital is at risk. US users – cfds are not available for US users. US users can only trade (long) real assets without leverage.
If you want a more detailed explanation of the buying process and also a better understanding of ethereum and its currency, ether, keep on reading this post. Here’s what I’ll cover:
1. What is ethereum?
Ethereum can be used to decentralize just about anything: voting, domain names, financial exchanges, crowdfunding, company governance, contracts and agreements of most kinds, intellectual property.
It’s a do it yourself platform for creating blockchains. The ethereum platform is the base layer, and on top of that you can create different tokens (e.G. ERC-20 tokens) to run decentralized apps (aka dapps). If you want to understand ethereum completely, watch this video:
2. What is ether?
Ether is the currency of the ethereum platform. Ether will be required by anyone wishing to build upon or use the ethereum platform. Just like bitcoin, ether can be traded around the web and mined. Most people use the term ethereum to refer to the currency instead of ether and that’s why it can get a bit confusing.
The total supply of ether and its rate of issuance were decided by the donation gathered on the 2014 presale of the currency. The results were roughly:
- 60 million ether created were granted to contributors of the presale.
- 12 million (20% of the above) were granted to the development fund, most of it going to early contributors and developers and the remaining to the ethereum foundation.
- 3 ethers are created every block (roughly 15-17 seconds) to the miner of the block (this was reduced to 2 ether in 2019).
- 2-3 ethers are sometimes sent to another miner if they were also able to find a solution but his block wasn’t included (called uncle/aunt reward).
The founders of ethereum state that ether is not a currency as much as it is “crypto-fuel”, meaning it’s a token that has one main use – to pay for the ethereum platform.
3. How do you buy ethereum?
Step 1 – get an ethereum wallet
Before starting the buying process you will need to get an ethereum wallet to hold your ether. There are many types of ethereum wallets. Here is a short breakdown of the most popular ethereum wallets.
Ethereum hardware wallets
Hardware wallets are the most secure way for storing ether. It’s a piece of hardware that you connect to your computer (just like a flash drive) that stores your ethereum private keys offline. A hardware wallet is probably the optimal mix between security and convenience you can find. The main hardware wallets that support ethereum are ledger and TREZOR.
Electrum software wallets
If you’re just starting out with ethereum, don’t have a lot of ether to store or don’t have the money to buy a hardware wallet you can use free software wallets. These wallets are free of charge but are less secure since they are constantly connected to the internet (and therefore can be hacked). The top ethereum wallets for beginners are exodus (for desktop), edge (for mobile) and myetherwallet (for desktop / mobile).
Step 2 – buy ethereum with a credit card or wire transfer
The easiest way to buy ethereum (i.E. Ether) would be through one of the popular ethereum exchanges which are listed below.
Buy ethereum through CEX.Io
Cex.Io is a cryptocurrency exchange that allows you to buy ether with a credit card. If you use the company’s brokerage service (buying directly from the exchange) the fees will already be calculated into the exchange rate, that’s why it will seem higher than other exchanges. If you want to get better rates try using the site’s trading platform (suited for more advanced users).
- Open a CEX.Io account
- Add your payment method (credit card or bank account)
- Go to “buy/sell” and select ethereum
- Choose the amount of ethereum you want to buy
- Click on “buy ethereum”
Buy ethereum through etoro
Etoro – if you’re only into ethereum for price speculation and don’t need to hold the actual coins or send them to anyone else, etoro is probably the easiest and cheapest option. The company offers a friendly and intuitive UI to help you buy and sell ethereum for fiat currency (USD, EUR, etc.).
Etoro is less recommended for accessing and using the actual coins, due to their relatively complicated withdrawal process. So, if you’re using etoro for investment only you can skip step 1 of getting an ethereum wallet, as you won’t be using the coins you’ll buy.
Important:
Keep in mind that cryptocurrencies can widely fluctuate in prices and are not appropriate for all investors. Trading cryptocurrencies is not supervised by any EU regulatory framework. So keep in mind that your capital is at risk. US users – cfds are not available for US users. US users can only trade (long) real assets without leverage.
Buy ethereum through coinmama
Coinmama – A worldwide seller of ethereum that has been working in the cryptospace since 2013. The site allows you to buy ethereum with your credit card or bank wire transfer (SEPA and SWIFT). Exchange rates are relatively fair especially if you use SEPA transfers.
Buy ethereum through coinbase
Coinbase is a convenient and cheap way to buy ethereum and the platform is open to 100+ countries). Coinbase will sell you ETH for a fee of 1.49%-3.99% depending on your payment method (credit cards have a higher fee than wire transfers). Here’s how you buy ethereum on coinbase:
- Open a coinbase account
- Add your payment method (credit card or bank account)
- Go to “buy/sell” and select the amount of ethereum you desire
- Click “buy ethereum”
Buy ethereum through bitpanda
Bitpanda is a cryptocurrency exchange specializing in buying and selling cryptos inside the eurozone. The company has a pretty intuitive interface for purchasing ethereum and other cryptos and the service is relatively quick. The only issue is that there are no listed transaction fees and you’ll need to calculate the fee charged from the final price.
Swapzone
If you wish to exchange other crypto for ETH rather than buying it, you can check out this service from swapzone. Swapzone provides a single view on which you can compare exchanges by rates, user reviews and delivery time. You can then exchange ETH instantly on the site.
At the time of writing, there aren’t many exchanges available on the site, however, that can be expected from a relatively new service.
Step 3 – withdraw the ether to your wallet
Once you bought ether remember to make sure the coins are sitting in your own personal wallet. If you leave your coins on the exchange and the exchange gets hacked or becomes insolvent you may end up losing your coins.
For this step you’ll need to send your coins to your ethereum address. Just like you need an email address to receive emails, you have an ethereum address to receive ethereum. The address is a long string of characters and numbers that start with 0x and looks something like this: 0x123f681646d4a755815f9cb19e1acc8565a0c2ac. You can retrieve your ETH address from your ethereum wallet.
4. Frequently asked questions
How do I buy ethereum with paypal?
Most exchanges won’t accept paypal since its buyer protection allows the buyer to reverse the transaction and that opens up the option for fraud (you can read more about this here). However, if you’re willing to pay a price there are several ways you can buy ethereum with paypal.
One workaround would be to buy bitcoin with paypal and then trade it for ethereum on a cryptocurrency only exchange like binance. The process will take time, as buying bitcoin with paypal isn’t straightforward, and you will pay a transaction fee for each step of the process. Only use this if you’re willing to pay up to 15% or more in fees.
Alternatively you can use localcryptos – a marketplace that allows individuals to connect with each other in order to buy and sell ethereum. The concept is similar to localbitcoins. While the variety and flexibility of this marketplace are usually high, the risk is also high. You have to make sure the person you’re dealing with is legit before conducting a trade.
How do I start investing in etheruem?
There are many forms of investing in ethereum. You can mine, trade, buy and hold or even invest in different sites. However, many of these methods contain great risks. I suggest reading in depth about the different types of investments here.
How do you sell ethereum?
If you’d like to sell ethereum you’ve bought you can do so on all of the exchanges listed about except for etoro. Etoro will only allow you to sell ethereum that was bought thought their platform. So here are your options:
- Coinmama
- CEX.Io
- Coinbase
- Bitpanda
For a complete list of ethereum exchanges where you can buy and also sell ethereum visit this page.
5. Ethereum (ETH) vs. Ethereum classic (ETC)
Ethereum classic is a cryptocurrency that was created due to a disagreement with the way original ethereum conducted business. The catalyst for the split was due to a hacker finding a way to steal $60m worth of ethereum coins.
The supporters of ETH said that the code should be altered and the stolen coins should be refunded, while the supporters of ETC said that “code is law” and whatever happened happened. ETC is actually the original ethereum code and ETH forked their code to create a new ethereum.
Therefore two identical competing currencies were created that have two different exchange rates. Today ETH’s price is much higher and is usually what is referred to as the “true” ethereum in the crypto community.
6. You can also mine ethereum
If you’re looking for an alternative for buying ethereum you can try mining ethereum. Using your own computer (CPU mining) will probably not get you too far. However, if you have a GPU on your machine then you can get some actual rewards. Mining ethereum is similar to bitcoin mining in many aspects aside from the fact that you don’t have to buy dedicated hardware to participate in it.
7. Conclusion
Ethereum is a disruptive technology that is set to change how the internet works. Whether it succeeds or not remains to be seen, but for now you can easily get your share of “the internet’s future” by following the steps mentioned above.
As ethereum becomes more popular its currency, ether, seems to be gaining momentum and appreciating in price. But as always cryptocurrencies are a very risky investment and things can change in a heartbeat (as demonstrated by ethereum’s colossal price drop during 2018).
If you want to learn more about ethereum you can use the variety of social channels dedicated to the platform: facebook, twitter, youtube, reddit, stackexchange and the etheruem blog.
If you have additional questions or comments I’d love to hear about them in the comment section below.
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Best brokers in india 2021
The brokers below represent the best brokers in india
Your capital is at risk
IRESS, MT4, MT5, webtrader
Your capital is at risk
Your capital is at risk
ECN, no dealing desk, STP
Your capital is at risk
Your capital is at risk
Your capital is at risk
FP markets
Regulated by: ASIC, cysec
Headquarters : level 5, exchange house 10 bridge st sydney NSW 2000, australia
Your capital is at risk
FP markets was founded in 2005 and is regulated by the australian securities and investments commission (ASIC), offering segregation of client funds and top tier liquidity. FP markets is a group of companies that includes first prudential markets ltd which is authorised and regulated by the cyprus securities and exchange commission.
FP markets also offers a range of education and market analysis resources through the traders hub which includes technical analysis and fundamental analysis articles and videos, as well as, trading ebooks and video tutorials. Users can access live support via telephone, email and live chat 24 hours a day, 5 days a week.
Regulated by: cysec, IFSC
Your capital is at risk
FBS markets inc. Is a forex and CFD broker that offers its services across the globe. The company was established in 2009 and since then, the brand has grown in size, capacity and technology. It offers currency pairs, cfds, stocks, metals and cryptocurrencies on MT4 and MT5 platforms.
FBS markets offers 37 currency pairs, 4 metals, 3 cfds, 4 cryptocurrencies and 32 stocks.
FBS provides the MT4 and MT5 trading platforms as webtrader, desktop applications and mobile applications. For leverage accounts, this brokerage offers leverage of up to 3000:1.
Octafx
Headquarters : suite 305, griffith corporate centre, beachmont, kingstown, st. Vincent and the grenadines
Your capital is at risk
Octafx was founded in 2011 and offers forex ECN trading, as well as CFD trading on indices, metals and cryptocurrencies, across the metatrader and ctrader suite of trading platforms for windows desktop, web (windows and mac) and mobile (android and ios), as well as their own octafx trading app.
The broker’s octafx.Eu website is an approved domain registered with the cyprus securities and exchange commission (cysec) under octa markets cyprus ltd. This enables users to trade with a broker under european regulatory oversight. The broker’s octafx.Com website is registered in st. Vincent and the grenadines and has no restrictions from european regulators, enabling users to take advantage of higher leverage and bonus promotions.
*the broker offers additional payment methods for certain geos.
How to choose a forex broker as an indian trader
Despite the fact that india is not among the richest countries in the world, it is still open to investments and plays a big role in global financial markets such as forex. People who have saved money or earn good salaries want to invest and currencies become one of the best choices. However, how do you know which broker to choose in such a big industry where scams abound? We are going to look at some of the key things and they are: picking a regulated forex broker, selecting an easy to use trading platform, checking if the broker has competitive spreads, variety of accounts, good customer and useful extra services. Let us look into each these now.
General regulation & indian regulation
This is where things might get a little complicated. In most countries of the world you may have loose and strict regulators with different requirements for brokers, but if you live in EU or US you would be able to trade any currency pair in the world and use quite large leverage. Limits that are imposed on brokers in the area would be more on manipulation, risk, inside trading and acting without license type ones.
When it comes to india, it is completely different. Forex market in the country is regulated by SEBI, which stands for securities and exchange board of india. In 1992 the institution was authorized to regulate securities and capital markets in the country. Its role has increased more recently and now it issues licenses for brokers, creates regulation, does inspection and auditing and etc. The regulator is also responsible for forex trading regulation in india. The thing is that trading currencies in india is not entirely legal. The only possibility of trading legally is to trade currency pairs that have indian rupee (INR) in the pair. This means that as an indian trader you can trade only four pairs: USD/INR, EUR/INR, GBP/INR and JPY/INR. As INR is weak against US dollar and the central bank of india is short of dollars and if traders bought US dollars they would do it from the central bank, consequently increasing the shortage of dollars with the bank. It would then have to buy USD/INR at worse rates and INR would continue going down.
In the same fashion, online trading using online platforms is not permitted for indian citizens. Internationally brokers are allowed to offer their services in the country. However, indian traders can trade only with SEBI approved brokers without using online platforms and trading only INR denominated pairs. So, current situation for forex traders in india does not look very appealing. However, the government is considering lifting the restrictions to allow more popular pairs to be traded by indian forex traders. Let us hope they will lift the limits sooner rather than later.
Trading platform & software
As it is illegal for indian traders to use online forex platforms there is not much to be said. However, forex traders that are not natives and reside in india can trade and use those platforms. As we expect that this ban will be lifted for indian traders we will briefly mention what you need to expect from a broker regarding the issue. If a broker offers a platform that is complicated to use and which is not user friendly you may have serious problems. There are countless of cases when traders wanted to close their positions and actually doubled them experiencing big losses, because they could not figure out how to simply close a long or short position. Good brokers often include a button that can close all of your positions if you need that. In terms of platform, you should be given at least a few options to choose from. One would be a downloadable platform such as metatrader 4, another one an online version that could be traded from your favorite browser. Finally, most brokers will offer you a choice to download an app from their website, install it on your smart phone and trade it wherever you go.
Commissions & spreads
The way forex dealers and brokers make money from their services is through spreads, which is the difference between ‘buy’ and ‘sell’ or ‘bid’ and ‘ask’ price. These can be fixed, variable or fixed with an extra fee. Fixed spreads tend to be the largest in the industry. Typically, the most famous currency pairs such as eur/usd or usd/jpy will have around 2-3 pips if spreads are fixed. Variable spreads depend on market conditions. Under normal market conditions eur/usd and usd/jpy can be 0.1-0.6 pips, which is very little. However, if some fundamental data hits the market you may expect the spread widen to 20-30 pips per most popular pairs and even more with less popular ones. Occasionally, some companies offer a small fixed spread with an extra small fee per position. So, you can have 0.4 pip on eur/usd, plus extra 5-6 $ on a standard 100k lot position.
Account types
You do not need to worry if you have only a small amount to trade currencies. All of the brokers offer leverage, which means you, will be able to open much larger position than your initial deposit. However, you will also have to limit risks. Al lot of brokers will allow you to trade micro accounts with initial deposit as little as 50$-100$. If you have 1000-2000$ a mini account would probably fit you best. And if you have 10k or more brokers would possibly offer you a standard account. There could be many more variations of the types of accounts, for example, islamic account where interest accruing rules would not apply or VIP for particularly large sums of money and special services. You need to contact a broker and discuss your needs with him to find out which type of account fits you best.
Customer service
An indian forex trader should naturally expect service in his native language or a dialect that is widely spoken in the area. Customer care uncovers brokers’ character, intentions and willingness to give rather than take. If it is only in english, you better go somewhere else, because the broker probably came just to get, not to give.
Online customer support is also something you would expect from a reliable broker. A broker should be there to answer questions, solve issues, discuss problems and offer advice in a fast and effective manner. Slow customer service is a bad manner of business and you should stay away from such brokers.
Additional services
Extra services are also expected from a reliable broker. Regulated brokers will inform their customers about risks trading in the markets, offer various kinds of courses on a variety of financial topics, provide video lessons, post financial news feed on their website as well as economic calendar for all traders to see what fundamental factors can affect markets in the nearest future and etc.
Conclusion
As you may see there are a lot of things to be taken into consideration before you fund your real money account with some broker. When you find a broker who offers the best of what has been described in the article you will be able to trust him and trade your money with focus and confidence which will ultimately help you to make money.
So, let's see, what we have: discover the 9 leading ethereum exchanges, what you need to check before choosing an exchange to buy ethereum and read detailed reviews. At ethereum broker in india
Contents
- Top forex bonus list
- Best ethereum exchange reviews & comparison
- Ethereum exchange guide summary
- 1. How do I buy ethereum?
- 2. Ethereum exchange types
- 3. How to choose an ethereum exchange?
- 4. Best ethereum broker exchanges
- 5. Best ethereum trading platforms
- 6. Best ethereum P2P exchanges
- 7. Conclusion
- Best bitcoin brokers for india
- 1. Exchanges to buy bitcoin in india
- 2. Brokers to trade bitcoin in india
- Bitcoin and cryptocurrencies in india
- India bans all business with cryptocurrencies
- Bitcoin as an answer to governmental control of money
- Bitcoin exchanges and brokers in india
- Contra bitcoin: fraud, inner values and ponzi
- Pro bitcoin: transparency and the indian constitution
- Best ethereum exchange reviews & comparison
- Ethereum exchange guide summary
- 1. How do I buy ethereum?
- 2. Ethereum exchange types
- 3. How to choose an ethereum exchange?
- 4. Best ethereum broker exchanges
- 5. Best ethereum trading platforms
- 6. Best ethereum P2P exchanges
- 7. Conclusion
- Trade crypto like it's meant to be
- Bitbns is for everyone
- Kickoff your journey in just 2 steps
- Why bitbns?
- Safe and secure
- Automated buy and sell
- Extra downside protection
- Verified network
- 24x7 customer support
- How to buy ethereum in india 2021? Complete guide for beginners
- Key elements of ethereum include:
- How to buy ethereum?
- Step by step guide for beginners, hoe to buy ethereum in india?
- Trade ethereum
- Can I use regular money to buy ethereum?
- Getting an ethereum wallet
- Ethereum exchanges in india
- Ethereum mining
- Conclusion
- Forex brokers that accept ethereum
- Best execution
- MT4 floating - instant execution
- Best conditions
- Avatrade account [BVI]
- Best platform
- Premium account
- Pro account
- Professional account [EU]
- TOP BROKERS
- Top 3 brokers in india 2020
- Top 3 brokers in india 2020
- Top forex brokers 2020
- Top forex brokers 2020
- Weekly forecasts & technical analysis
- BTCUSD weekly outlook and bitcoin fundamentals , 9th january 2021
- USD/INR – weekly outlook & analysis for 31st december 2020
- BTCUSD weekly outlook and bitcoin fundamentals , 23rd december 2020
- What is forex market?
- How can I start forex trading?
- What are cryptocurrencies and why to trade?
- Brokers offering cryptocurrency trading with bitcoin, ripple, ethereum and others
- Ethereum (ETH) vs. Bitcoin (BTC)
- How to buy ethereum – beginner’s guide
- Don’t like to read? Watch our video guide instead
- How to buy ethereum summary
- 1. What is ethereum?
- 2. What is ether?
- 3. How do you buy ethereum?
- Step 1 – get an ethereum wallet
- Step 2 – buy ethereum with a credit card or wire transfer
- Buy ethereum through CEX.Io
- Buy ethereum through etoro
- Buy ethereum through coinmama
- Buy ethereum through coinbase
- Buy ethereum through bitpanda
- Swapzone
- Step 3 – withdraw the ether to your wallet
- Step 1 – get an ethereum wallet
- 4. Frequently asked questions
- 5. Ethereum (ETH) vs. Ethereum classic (ETC)
- 6. You can also mine ethereum
- 7. Conclusion
- Best brokers in india 2021
- FP markets
- Octafx
- How to choose a forex broker as an indian trader
- General regulation & indian regulation
- Trading platform & software
- Commissions & spreads
- Account types
- Customer service
- Additional services
- Conclusion
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