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Trade like a pro: Leverage real-time discussions and market-moving ideas to outperform.
Today many people want to earn more and more money.
That is why they look for additional sources of money, and online trading is one of them.
If you want to start trading crypto or Forex, you can get a lot of benefits out of them if you know what to do and know what services are good and what are bad.
Today we will talk about those two ways of trading and about steps you need to follow not only to protect your money but to multiply it.
How to Avoid Scammers
Unfortunately, this is the type of service that is waiting for newcomers when they enter the Forex or crypto market.
But you are lucky! There are ways to avoid scam services if you know some basic rules of choosing the legit broker or channel.
First, let’s talk about crypto services.
The biggest number of scammers appears in the field of altcoin signals Telegram channels. So, if you want to use the legit and profitable channel, you will need to check their past activity, experience, results, etc.
But the first and the most important flag of scam channels is the big amount of subscribers. There are services that have more than 20,000 subscribers.
In this situation, the channel can be a highly experienced or scam one. You need to check this channel on the Internet and try to find reviews on it. If you manage to find a lot of them and all of them are positive, it can be the channel with great profit and experience. But, I think that you won’t find them, so it is better to avoid such a channel.
With Forex services everything is more complicated.
You need to know that according to the official statistics of Forex brokers, 70% of people lose money trading on Forex.
And it’s not because of scammers but because of high volatility and leverages.
If we talk about scam Forex services, the first thing I need to talk about is different Forex brokers.
A lot of them use the scheme when you deposit money to the account, you trade and win or lose sometimes, and then, when you decide to withdraw money, they will freeze your account.
It is almost impossible to guess if the broker is good or bad. The only thing you need to do is to check the reviews and feedback of other users, they will help you to see the real situation.
Where to Store Assets Safely
This question is very important among users who deposit money to the crypto exchange account.
If we talk about Forex, you have no choice and you need to store all the money on your account or to withdraw it to your card or PayPal account.
And in the case of crypto trading, we have cryptocurrency wallets.
A lot of cryptocurrency experts say that it is very risky to keep all the money on your account on the crypto exchange because they are vulnerable to hack attacks.
That is why it is important to have your best crypto wallet. In your advantage to find the safest wallet, for example, the hardware one.
Is It Possible to Trade Without Proper Experience?
I need to tell you that it is impossible.
Every process needs preparation, and online trading is not an exception. You need to spend some time reading and finding out everything possible, especially if you are going to trade on your own.
There is a good chance for newcomers – to use market predictions made by professional traders.
If you are the Forex trader, you can find a Forex signals channel, check it properly, and trade.
If you want to trade crypto, it will be also possible to find the crypto signals channel. There are a lot of them now but you need to check every service properly.
Is It Possible to Use Trading Bots?
Yes, auto-trading is very convenient when you have, for example, your primary job.
Unfortunately, you can’t use bots trading on Forex.
But I have good news for those who want to trade crypto – there are a lot of useful bots you can use.
They will simplify your trading process for sure.
I hope this guide was useful to you and you found a lot of important details for your future trading.
I wish you high profits!
