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The Most Famous Forex Traders Ever

April 16, 2020 By Leave a Comment

The Forex market has produced some of the most successful traders in the world over, since its inception. With most professional traders earning big, it comes as no surprise that there are some traders who have far exceeded others in terms of incredible results and consistency over their career. A select few have even reached international stardom, who have left their footprints in the investment industry.

A lot of these individuals offer guidance and inspiration for other traders who look to improve their results. They often take meticulous risks leading by example on how a forex trader should function and plan.  This article aims to present five of the most successful forex traders in the world at the moment.

  1. Stanley Druckenmiller: Hailing from a middle-class suburb in Philadelphia, Stanley Druckenmiller started out his journey in 1977 as a bank management trainee. He formed a company after four years called Duquesne Capital. He then gained attention and success for managing George Soros’ money, another big, internationally known trader. He worked as the lead portfolio manager for Quantum Fund from 1988 to 2000.
  2. Andrew Krieger:  Andrew Krieger is another successful trader having joined Banker’s Trust after leaving Solomon Brothers in 1986. He immediately became known as a successful trader and got rewarded by the company by having his capital limit increased to $700 million. This was significantly more than the standard $50 million limit allotted. These turn of events were to help him find a perfect position to profit from during the 1987 market crash known as “Black Monday”.
  3. George Soros: As mentioned before George Soros is an internationally famous forex trader, born in 1930.  After escaping Hungary which was occupied by the Nazi administration at that point, Soros began his financial career at London based Singer and Friedlander in 1954. After working at a series of financial firms , he established Soros Fund management in 1970, which would go on to generate $40 billion in profits over the next 5 decades.
    Soros rose to international fame after netting a profit of over $1 billion after short selling $10 billion worth of GBP. He became known as the trader who broke the Bank of England. He is also included in the list of the 30 wealthiest individuals in the world.
  4. Bruce Kovner: Born in Brooklyn, New York in 1945, Bruce Kovner didn’t even initiate trading till 1977. At age 32, he borrowed against his personal credit card, buying soybean futures contracts, netting a $20,000 in the process.  After joining the Commodities Corporation as a trader, he booked millions in profits, gaining a solid industry reputation. Bruce Kovner founded the Caxton Alternative Management company in 1982. It has since grown into one of the world’s most successful hedge funds, with an estimated $14 billion in assets.
  5. Bill Lipschutz: Bill Lipschutz started his trading journey while attending Cornel University in the 70s. He started his success by turning $12000 to $250,000. He learnt a hard lesson on risk management after he lost his entire stake after a poor trading decision. After learning the lessons, he migrated to Solomon’s newly formed foreign exchange division. He became an immediate success, earning an estimated $300 million per year for Solomon by the end of 1985. From 1995, he has held the director of portfolio management position at Hathersage Capital Management.

Using IQ Options for Trading

All the above traders started from somewhere, overcoming various obstacles to become what they are today. They provide the inspiration required to many small scale traders to dream big and achieve profits. For that, they need a reliable broker they can trust.

IQ Option- a safe and trustworthy broker for trading Forex, is a multi-asset brokerage platform that offers several classes of tradable assets and instruments. It offers a mix of Stock CFDs, forex CFDs, stock CFDs, and cryptocurrency CFDs along with binary and digital options, all under a single platform.

IQ Option is registered at Cyprus, regulated under the Cyprus Securities and Exchange Commission. It is available in 213 nations around the world, requiring a minimum deposit of only $10 and minimum trades at $1. IQ Option also offers a demo account where traders can try out the platform before diving into the real-time trading environment.

Conclusion

The article names and discusses in brief, some of the most successful forex traders in the world, which constantly being updated with success stories from around the world.

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10 Questions To Ask Before Investing In Precious Metals

December 12, 2019 By Leave a Comment

Source: Pexels.Com

Precious metals have significant economic value. They are rare metals with different uses that make them great for investments. There are 12 types of precious metals and 4 of which are considered to be the most valuable. The precious metals that are are most in demand include gold, silver, and platinum.

Invest in Gold or silver?

The average precious metal investor prefers to invest in gold rather than silver. Gold is used for hoarding and adornment. Many people use it to hedge against the dollar.

While both gold and silver have industrial uses, demand for silver in industries is more than demand for gold. Many central banks around the world use gold. Approximately $3 trillion in gold is owned by central banks. In the first six months of 2019, central banks purchased over $15 billion worth of gold. Central banks now hold 34,000 tonnes of gold.

As an investment, gold is free of VAT. In contrast, silver and other precious metals are not free of value added tax. If the metal is in an accredited vault in an allocated account, one may avoid paying VAT.

2. What Is the Best Way to Invest in Precious Metals?

There are different ways to invest in precious metals. The different methods of precious metal investment expose investors to different measures of risk. Investors are encouraged to take great lengths to consider the benefits and potential disadvantage ages of using the different mediums of precious metal investment.

3. What about buying through eBay?

When it comes to making purchases online, platforms like eBay can present challenges in terms of trust. It isn’t always easy to know who you are really dealing with at the other end of the screen.

Providing you can trust a seller, eBay can provide options to purchase collectible coins as well as other types of precious metal items. You may have to make considerable effort to ensure that the product being sold is genuine.

4. How Do You Store and Insure Your Precious Metals?

Investors may have to spend extra money to store and insure their physical precious metals. For $700 – $1,000 , a safe can be installed in your home to store your precious metals. It is best to purchase safes that have been given good ratings. Such safes may cost more than other safes.

Precious metals may be added to the contents policy. This can cost additional premium. Proof of purchase will be required to make a claim for the precious metals.

5. Bullion Coins or Bullion Bars?

In many cases, bullion bars prove to be easier to buy and sell than bullion bars. Half a stash of bullion coins can be sold more easily than half a gold bar. Coins are divisible, allowing for easier transfer of value.

It is also important to consider the weight and fabrication costs of  bars. Larger gold are usually priced lower due to smaller fabrication costs associated with them. Gold bars usually cost less than smaller weight gold coins.

6. What are the Differences Between Bullion Coins?

Bullion coins come in different varieties. Types of bullion coins include the Isle of Man Angels, Chinese Pandas, and Canadian Maple Leafs. Bullion coins may be available in silver and platinum , which many governments have a penchant for.

7. What are the Different Types of Precious Metals?

There are different types of precious metals that exist, providing new use cases for individuals and groups in different sectors. Gold is the most popular precious metal, followed by silver.

Gold attracts the most attention from investors. It is used for different purposes in industries. Central banks around the world use gold as part of their policy objectives.

Silver is a hybrid metal, providing benefits that different metals present. It is a byproduct of lead, zinc, copper, and other metals. While it is not as sought after as gold, it proves to be useful for industrial purposes.

Source: Pexels.com

8. Are Stocks Better than Precious Metals?

Stocks provide advantages which precious metals do not provide. Unlike precious metals, dividends can be made from stocks, allowing for extra income without selling the asset.

Conversely, the income from precious metals is typically gained after making selling the asset. While this may seem like a significant disadvantage of owning precious metals, investors should be reminded of the fact that there are risks associated with owning stocks which owners of precious metals are not exposed to.

9. What are the Tax Implications of Investing in Precious Metals?

Active precious metal investors may be treated as businesses with their profits being taxed as income. Precious metals may be subject to maximum 28% capital gains tax.

It is important to consult with a tax professional in order to gain deep understanding of the nuances of tax laws in relation to precious metal investments. There are different ways to reduce tax obligations which a tax professional can shed light on.

10. Who Should You Buy Precious Metal From?

Precious metals can be obscure in appearance at times with different processes having to be executed to ensure authenticity of the seller and the item. Trusted organizations like Lear Capital make the process of purchasing and selling precious metals seamless, with expert customer service representatives ready to add value to your investment decisions.

To learn more about the quality service provided by Lear Capital for precious metal investors, you may read the reviews of the organization which has handled $3 billion in precious metals investments.

Read More:

Safeguarding Your Future: A Comprehensive Review Of Augusta Precious Metals

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How You Can Invest Without a Lot of Money

May 25, 2016 By 1 Comment

Invest Without a lot of Money
You’ve done your research. You have picked the stocks and markets in which you want to place your money. You’ve even brushed up on the stock market lingo, but you don’t have thousands of dollars to drop. Good news, you don’t have to have thousands to invest.

Making your first investment is an exciting and terrifying task. However, many people are under the impression that, in order to invest, you need to have a lot of money. That is just not the case. In fact, many successful investors have started small and worked their way up. Here are a few ways to start your investing journey small:

Get a plan through your employer

Placing money into a mutual fund or 401(k) through your employer is a no-brainer. There is no minimum required investment for many of these plans. You will simply have it automatically placed into the 401(k) from your paycheck. Many employers also offer a matching contribution as well. Usually you have to stay with the company a certain number of years or have put a certain amount in the 401(k) to have the company match your contribution, however, it is definitely worth it. If you put $1,000 in, the company will put $1,000 in as well, giving you $2,000. Some companies offer a percentage match or up to a dollar amount as well (capping at $5,000, for instance).

Schwab Index Funds

Investing firm Charles Schwab offers five conventional stock-index mutual funds and three bond-index funds. Each of these has a $100 minimum. It has U.S. stock market fund options, international-index fund and bond-market funds. Any or all of the three would make for great portfolio holdings and none of them require a huge amount of money to get started.

Actively managed fund

Some investing firms will waive their regular minimum if you agree to making a recurring deposit. For instance, if you don’t have a lot of money to invest now (only $100), you would agree to have $50 withdrawn from your account monthly for a specific period of time.

Online Brokerages

Online brokerages have made it easy for many people to start investing. With as little as $500, you can open an account. Some online brokerages don’t require any minimum deposit. With these brokerage accounts, there are ways to pay no commission and buy/sell investments for very little money (about $10 is standard).

Acorns Investing

If you have never tried it, Acorns is an app through Intuit. It allows you to create a portfolio based on your investment goals. You can set up recurring deposits or you can start with a small amount (as little as $5). Acorns also allows for a “Round Up” investment. This means that every time you swipe your credit or debit card, the app rounds up and places the change in your investments account.

Any account with only $100 or $1,000 won’t do you much good. If you want to gather a decent amount of cash, you will have to save as much money as you can. When you have extra money, place it towards your investments.

Do you have any additional funds or investments that don’t require a high minimum? Let us know! We’d love to hear from you. 

Photo: Flickr: 401(K) 2012

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