Five reasons why VIPortal must take blame for giving Kenyans the wrong view on forex - forex currency trading demo

Five reasons why VIPortal must take blame for giving Kenyans the wrong view on forex ~ forex currency trading demo

It seems that our analysis on VIPortal incorporated, a Kenyan forex entity, is not going away any day soon. Let it be known that we have nothing against VIPortal. We only think that we owe it to the unsuspecting public which has a right to know, online forex being an unfamiliar terrain to many Kenyans. 

Online forex trading is considered as such because of the
limited interaction between the forex trader and the market maker, who is basically the forex broker. Try and fix VIPortal into this scenario and you will be left wondering whether VIPortal is trying to redefine the meaning of online
forex trading or whether what they are attempting to do is what forex brokers should actually be doing. It cannot skip our minds that VIPortalhas also branded itself as an ECN provider. We will not delve into that discussion today. Let it be the subject of another occasion. Today we only aspire to show how VIPortal Incorporated has misled the Kenyan public interested in the trading of forex on what online forex trading actually entails?

1.      Forex brokers are market makers

Being a market maker simply means that you provide an avenue through which forex traders will buy or sell any currencies,  metals or any other commodities. In a sense you have to be trading against the client so that when the client buys it implies that you have sold. So far VIPortal has not shown that it has been a market maker to over 8,000 of its clients. When most these clients first opened accounts with VIPortal, the entity had no Meta trader 4, which it has recently acquired. Yet majority of Kenyans I have interacted with on matters forex now believe that what VIPortal has been doing is what the typical forex broker does. That is, taking money from the client and trading on their behalf. That belief is wrong. The best a forex broker can do is to assign a trader to an account manager who guides the trader on when and how to trade on any platform registered in the full names of the trader. I highly doubt if any of VIPortal’s clients can see the results taken on their behalf for the past few months through the Meta trader platform.

2.      Forex brokers have different payment options

VIportal seems to be the de facto neteller ambassador in Kenya. Neteller is a money transfer system that allows transfer between merchants and individuals. You could compare it to Lipa na Mpesa. We wonder whether during the signing of trading contracts clients were notified that they could only be able to withdraw their money through Neteller accounts. If VIportal is on some affiliate program with Neteller one can only try and guess how much money they have made from each of their clients that opened a Neteller account to get their money back. The Kenyan public should know that forex brokers provide various ways of cash deposit and withdrawal depending on what is convenient to the trader. Some of those ways include depositing or withdrawing by wire transfer, debit card, credit card, skrill or moneybookers, Paypal and many other ways. If VIportal is on an affiliate program with Neteller their clients must be let know under the principle of full disclosure. But as matters currently stand, all its clientele believes that Neteller is the only way to get their money back.

3.      Hedge funds are the only certified entities that trade for individuals and organizations

VIPortal is not a hedgefund and as such should not be taking money from its clients and trading on their behalf. It claims that its staff constitutes traders rated from three stars to five stars. Were the clients provided with the trade records of all of VIPortals traders so as to ascertain whether they were capable of bringing profitable returns to the trader’s accounts? I doubt. Probably no client asked to be furnished with such information; not because they lacked the guts to inquire but because they do not know that before anybody handles your trading account you need to see a certified document showing all the trades they have taken for a given period of time in a real trading account. Hedgefunds generally trade for others because as the name suggests they hedge their positions so that the loss they make in one trade is covered by the profits in another trade taken at the same time.

4.     Studying how to trade forex online should not be that expensive

Forex trading is not an elitist profession. It is the only sphere where even college dropouts can do much better than those with master’s degrees. And just if you did not know, you do not need a university degree to trade forex online. Of course VIPortal has in no way made forex seem like a science, but it has been charging abnormal amounts to those who would want to learn how to trade forex. In a previous article we attempted to answer the question whether forex trading can betaught. VIPortal’s high fees could be as a result of enjoying a monopoly due to their permanent presence unlike most self declared Kenyan forex tutors without addresses who disappear soon after getting hold of your money. What any Kenyan aspiring to learn how to trade forex should know is that there are many online forex tutors that charge far less to train anyone on how to learn to trade forex online. And you will be surprised to discover that most of what you will be taught after paying over Kshs. 100,000 for an advanced course at VIPortal is actually available for free in an online forex forum. They probably copied the course from one of those forums.

5.      Forex trading is not all about prayers

I am not discouraging anyone from sticking to their pious lives, but what you should know is that as a trader the market cares less about your background. Forex trading is not a sphere where you sow a seed (panda mbegu), and have profits henceforth. Bad trades in this sphere are not rebuked through biblical versus- it is a centre of realism. You are either profitable or a loser. Most of VIPortal’s reply to those with questions concerning its activities has been bible based. Visit their facebook page and you will discover that any concern raised is often rebuked through some verse from the New Testament. Forex is a murky world and most of those learning to trade under the tutorship of VIPortal will be devoured by this world when they open live accounts. My only hope is that they have not been insisting on the power of prayers to any of their students when it comes to the trading of forex. For forex trading is all about eating your just desserts.

It is our hope that you now know what it means to be an online forex broker. You also now understand that you can actually ask to be paid back your investment through any means other than Neteller as long as your contract did not spell out the means of getting your money back. You can get more information on forex trading from the article titled ten things you did not know about online forex trading in Kenya or from any of the articles listed below. 
You do not need huge capital to start trading. Open a trading account with NORDfx and trade both forex and binary options for only 10 dollars.
Read: How Profit Venture Limited is stealing from Kenyan forex traders
Call us today on 0725 050 419 for the best forex trading orientation.
Related articles:-

Why are many Kenyans failing in the online forex business

Is online forex trading illegal in Kenya

How VIPortal got it wrong

Have courage to open a live forex trading account

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Reasons why every kenyan forex trader must demo trade before going live - free demo forex trading account india

Reasons why every kenyan forex trader must demo trade before going live ~ free demo forex trading account india

After reading the whole of this article it is my hope that you will get a forex trading practice account  . You could access any of them by clicking on the underlined links. 
 I do not know how you learnt how to ride a bicycle or how to swim but I can certainly bet my neck that it was not by reading some how to book or manual. You took the bicycle and fell to the ground a couple of times until you at last learnt how to ride. You threw yourself into the pool until you understood or mastered what a back stroke or butterfly move implies. You learnt by doing.

Now of course you did not throw yourself into the deeper end of the pool on your first swimming lesson. You could have ended up dead. Demo trading is like your first swimming lesson- from that moment when you dived into the shallow end of the pool. Those that begin trading live without testing their skills on a demo account can be compared to a person that dives into the deep end of the pool on their first swimming lesson. Live trading without demo trading is either a manifest of ignorance or too much adrenaline rush that creates false confidence. And whereas there is a possibility that a first time swimmer could be saved by the presence of a life saver, the forex sphere has no life saver and you are in it alone.

Similarly, you probably trained how to ride a bicycle on a three cycle. The bonus wheel was there as a safeguard- to prevent you from constant fall and injury. Okay, you may brag that for you the training was with a real bicycle, but I’m certain that you did not learn how to ride that bicycle on a superhighway. You probably secluded your rides to some walkway or path rarely frequented by cars. That is the case with demo trading. It provides you with safeguards just like the three wheeled bicycle. The safeguard is the virtual money in your trading account. Its loss does not make you starve or broke yet the more you gain of the virtual money the more your confidence grows.

Be it learning how to swim or ride a bicycle, you did not become good at it in a day or two. You put in countless hours until you neared perfection. Perfection cannot be achieved in totality, that’s why there exists such a phrase like “room for improvement”. You had a goal and a singularity of purpose and after weeks of training when you could finally ride safely on a superhighway or dive into the deep end of the pool without the help of the life saver, you rejoiced. Learning how to trade forex involves a similar path- get into the habit of practicing with a demo account until that moment when you feel that you can now trade with real money.

If you are not good with a demo account do not deceive yourself into believing that you will fair well when handling real money. You will have yourself to blame if within a week or two you are back to refunding your account. That is one of the most annoying things for any forex trader. Go ahead and apply for a demo account. It is the best way to learn how to trade the markets.

You do not need huge capital to start trading. Open a trading account with NORDfx and trade both forex and binary options for only 10 dollars. 

Call us today on 0725 050 419 for the best forex trading orientation.

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Two reasons why I still prefer Blogger when blogging for money - forex trading demo youtube

Two reasons why I still prefer Blogger when blogging for money ~ forex trading demo youtube

In today’s article I’ll attempt to contrast the two blogging sites associated with making money online through the publishing of content; Wordpress and Blogger. Above all I’ll try to build my case as to why I prefer blogging for money using the Blogger site as opposed to Wordpress. But first the tough question; is Blogger in danger

of being swept away by Wordpress?

Word press adherents love underlooking anybody or anything from the Blogger section. They think that anyone using Blogger in the hope of making money online is so yesterday and so must fail in their ambition to make money blogging. They say that newbies who start blogging with blogger are stuck to the materials of 90’s in the 21^st century.

Indeed, a lot of newbies who become aware of Wordpress on their earlier days of trying to make money online as bloggers quickly discard Blogger for Wordpress in the hope  that it marks the beginning of their success as bloggers for money. The Wordpress themes are eye catching and because every newbie reads that to make money online as a blogger you must look professional, they choose to err on the side of caution. They chose Wordpress not knowing its antecedent challenges.

Blogger is fast losing its appeal among those who would love to publish content for money online. It has been said that Wordpress is SEO friendly compared to Blogger and that if you want real success in blogging for money you must pack and leave- Blogger. But I stick to Blogger because I know what I’m specifically after. And as a Blogger devotee everything is falling into place for me. I don’t suffer the siege mentality that is characteristic of most people attempting to make money online whenever they get to know of the Wordpress themes.

You may call this brutal confidence that will make me agonize one day for all the time I wasted on Blogger in the hope of blogging for money. But I’ve got news for you- I’m actually making money online through Blogger. Of course I’m all aware that I can opt out of Blogger anytime if I want to. I’m also quite informed that Google might say enough is enough and leave me in the cold. My alliance with Blogger is not an immutable union with no exist clause.

It is indisputable that the look of your blog is inextricably at the core of your success in making money online. But for me to leave Blogger at this moment would be a mistake. I have approached that late hour when the labor pains are almost commencing and pressing the exit button would be tantamount to aborting an eight month old fetus.

Enough of my yapping let me state the two reasons why Blogger remains my preferred blogging station.

1.      I am not tech savvy

To make money online using wordpress requires a degree of technological knowhow. If you are not good at HTML set up you must get the services of a professional SEO code cracker. Blogger too requires some basics in HTML especially when manipulating the templates but not to the extent of wordpress. That is the main reason why Wordpress turns me off. Looking at their themes I realized that to apply even the less complicated After Morning theme would require the input of a technology guru.

For a newbie who is still new in the game, paying hundreds of dollars to have all the tabs and links in order turns the much hyped means of making money online as a blogger into a nightmare. It is on the aspect of technology that I keep forwarding the argument that Blogger remains the single most justifier of the fact that Google still has the goodwill that the newbie should succeed.

2.      There is much money to be made using Blogger

Blogging for money is the reason we keep publishing articles and professionalizing our blogs. No one wants to be on a site that does not offer returns. It creates the sad feeling of mockery of a deserving effort.  Blogger is hosted by Google and that means that blogging for money using Blogger increases the possibility that you could be accepted into the adsense program.

You cannot run the Google Adsense or Chitika ads using Wordpress and that is the point where I say “Blogger till I die.” To make money using Wordpress you must shift from the free hosted site Wordpress.com to Wordpress.org where you must pay for the hosting services.

Google Adsense is the largest online advertising forum and any platform that does not give you the chance to blog for money using adsense is doing you a disservice. Chitika is another good ad site that any person blogging for money must use. Others include infolink.com, adbrite.com and affinity click. Wordpress uses the Adwords program to run Ads on your site.

So you now know. If you are not the tech savvy type you have no business with Wordpress especially if you are broke and just trying to make money online as a blogger. Also, if your number one reason for blogging is to make money online, you’d rather stick with blogger because it’s the only way you are going to get a Chitika, infolink, kontera  or Adsense account approved.

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Five Great Reasons Why Every Forex Trader Should Open a Trading Account With eTORO - standard bank forex trading demo account

Five Great Reasons Why Every Forex Trader Should Open a Trading Account With eTORO ~ standard bank forex trading demo account

Seasoned forex traders will readily admit that before opening a live forex trading account, having a good forex broker is just as crucial as having a great forex trading strategy.

Forex trading is not easy but can become even more complicated with a wrong forex broker taken as a choice for any forex trader. We have discussed about forex brokers in this site in very many past articles and have even reported on true forex scams that led into forex traders losing a lot of money. This piece is therefore essential for those forex traders still shopping around for a legitimate forex broker whose technological and financial model is well tailored toward his or her forex trading strategy.

Every forex trader must therefore endeavour to open an account with a good forex broker. The characteristics of a good forex broker have also been discussed in our past articles. Here we only aim to point out to you why you should open a forex trading account with eToro, a forex brokerage company that we have used for over 4 years now. We aim to give sound and legitimate reasons that go past the usual minimum spreads or good customer care that is often branded around in support of any forex broker.

To open an account with eToro simply follow the link and fill out your details. You will then be asked to send your anti money laundering documents before you can fund your forex trading account. This is a very important point that differentiates a scam forex broker from a legitimate forex broker. If you open a trading account with a forex broker and you are immediately asked to deposit forex trading capital into the account with no requirement for your government issued identification documents like a passport or driver’s licence issued in your names, or a proof of residence document such as an electricity or water bill, this should be a red flag. Proof of residence and proof of identification documents are key in the forex trading business to prevent money laundering. A forex broker that fails to request for the anti money laundering documents commonly known as AML from a forex trader risks being sanctioned, fined or even closed down by the forex regulatory authorities in the country in which it is registered. This therefore is not a light issue.

Once your identification documents are authenticated you are free to fund your forex trading account and can start trading immediately.

With eToro you can fund your trading account through bank wire transfer, neteller, skrill or visa card as long as it is in your names and matches the names used while opening your forex trading account. The minimum amount you can start trading with at eToro is 50 dollars. This is a great way to encourage most forex beginners to start trading without risking so much. I have seen forex traders that start with such small amounts for forex trading and end up trading profitably in a while. But you can fund more than 50 dollars into your forex trading account depending on the style you have at hand.

This broker is also famous for the invention of revolutionary forex trading platforms. This implies that if you are trading with this broker the choice of opening and closing a forex trade are as diverse as the gadgets you have in your possession. You can open or close a trade through your pc, laptop, macbook or android mobile phone. This is essential because a system that limits a forex trader to enter or exit a trade through one platform alone may be disadvantageous at times. Forex traders need to monitor their open positions and this is what this broker provides.

eToro also provides social trading services. This service is mostly aimed at traders who lack a great forex trading strategy but are ready to fund their forex trading accounts. A forex trader that wishes to benefit from this system may sign up for the copy trade and every time a pro forex trader of his choosing enters a trade he too can open a trade. This cuts short the forex trading learning curve that most forex beginners pass through and which has prevented many forex traders from turning profits consistently.

Those are some of the great reasons as to why you should open a forex trading account with eToro. Other reasons include their low spreads especially on the majors. They have also been a forex service provider for a long time and this means that they are a tried, tested and trusted forex broker with whom you should open a forex trading account. They are also registered and therefore legitimate. This is what determines the safety of any forex trader’s deposits. Incase they go under, you are certain to be compensated because your deposits are kept in segregated accounts and are insured. They also have international offices and hold frequent forex seminars and expos. This just goes to show how much they are dedicated to their business and clients.

There is therefore no reason why any forex trader should not join this forex broker. Open your forex trading account with eToro today and enjoy great execution speeds for your forex trades, small spreads, the advantage of forex copy trades from professional traders with a proven forex trading record, great customer support that is ready to help you 24 hours a day and simple ways to fund and withdraw money from your forex trading account whenever you so desire.

Please read the article below to learn about a simple yet effective forex trading strategy.

How price action traders can benefit from the VSA Indicator

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