iFOREX Opens Up Opportunities

Being a professional athlete is particularly challenging when championship day arrives. The pressure of the big moment – after so many months of training – can almost be too much for the nerves to bear. Professional golfer Annika Sorenstam managed to enjoy the intensity of the moment. “Of course I felt pressure”, she says. “But it was a fun pressure. I wanted to see if I could handle it, just staying true to myself and believing in myself coming down the stretch”.

The prospect of failure in moments like these is much more frightening than in amateur sports. Her whole legacy as a sportswoman could come down to this one moment! But, without that possibility, the special feeling of the championship moment wouldn’t be possible.

Moving to the financial realm: Using leverage in your trading is very much like Annika’s experience. It magnifies the potential consequences of you actions exponentially. For some people, it doesn’t make sense to take on the extra risk involved, and, for them, it’s best not to dabble in this area. For others, it’s exactly the opportunity they’ve been looking for.

One of the things you’ll get upon opening an account with iFOREX is access to leverage of up to 400:1 on forex pairs. You’ll also get generous levels of leverage on many of the other instruments available on the platform, which include stocks, commodities, cryptocurrencies, ETFs, and stock indices. Join us for a minute as we explain how this tool works, and also some of the other aspects of the iFOREX trading platform that are designed to open up opportunities.

Leverage

Imagine a trader who wakes up and sees the EUR/USD currency pair is holding at 1.0700, which means it’ll cost you $1.07 to buy one euro. He strongly believes the euro will appreciate in value against the dollar later in the day, so he’s anxious to open a “buy” deal on the pair. He checks his account and sees he has $5,000 available for this trade, which he opens without delay. In the afternoon, he checks the EUR/USD exchange rate and finds it at 1.0730 – 30 pips higher. He closes the deal and pockets $15 (5,000 times 0.0030).

Another trader, in a different part of the world, had woken up with exactly the same trading plan, and with exactly the same account balance at his disposal. The only difference is that this person has one of those Annika-Sorenstam-type personalities. Before pressing “Deal” on his app, he made use of leverage of 400:1, turning a $5,000 deal into a $2,000,000 deal. That same 30-pip spike translated into entirely different numbers for him: a gain, in fact, of $6,000 (2,000,000 times 0.0030). And this after putting down only $2,000.

Bear in mind the potential cost of taking on such an approach. If the exchange rate had surprised our second trader and moved in favour of the dollar, his losses would be similarly multiplied.

Trading Conditions

As to the spreads on the iFOREX platform, which is the cost you pay for trading, they are very competitive on all CFD instruments. iFOREX operates with complete transparency, so you can easily look up the precise spread that applies to your instrument.

The trading tools on the platform are state-of-the-art and geared to help you succeed. There’s the economic calendar, which appraises you of the economic events that could affect your instrument. There are also trading signals, which alert you to the price changes you need to notice. You’ll have the power to view live charts of your instrument, and to plot technical indicators on your charts. You can even find out about the sentiment holding sway in the market.

Admin

iFOREX have streamlined the payment process so you don’t need to waste trading time in making deposits. They use some of the best payment providers available, and you can choose between bank wire, eWallet, credit card, or debit card. When you trade with iFOREX, you won’t pay any sorts of commission fees, so no need to worry about that.

When you want to withdraw your funds, follow the simple process outlined on the website. You should find your funds sitting in your bank account or credit card before very long.

Final Words

The last point is certainly not the least important. IFOREX offers robust customer support in a variety of languages through its online Support Centre, but also through email, WhatsApp, and the good, old-fashioned telephone call.

Whether you’re Annika Sorenstam, or whether you’re keeping your goals modest at the moment, iFOREX is a great option to empower you on your journey into the financial markets. Visit the iFOREX website to read more about it.