What's coming up in August
This August will be the best month for trading crypto, stock, forex, and commodities. There's so much going on and so many markets are on the edge of a trend change, you simply cannot miss an opportunity of profitable margin trading. Let's pump up the trading volume! SimpleFX cuts spread for all the transactions in August - make sure you make the most of it.
Bitcoin and other cryptocurrencies are on the rise again. Gold is trending up and even silver may be on the brink of a breakout. At the same time, the global stock may be approaching a turning point as there are more and more signs about slow down or even a recession lurking.
Global investment banks are downgrading the forecast for stock and there have been some gloomy macroeconomic data published.
This also means very interesting times for crude oil prices, where the volatility of the price depends on both the future of global economic growth (where uncertainty would drive the prices down with concerns about the demand) as well as political tensions in the Middle East (where uncertainty would create a downtrend pressure with worries about the future supply).
For CFD traders this means great times for making a profit. Especially when there's often nothing else to do during the holiday season. You can take your smartphone with you on the beach and trade with the best trading app available.
While it's difficult to predict the trends in August, one thing is for sure - you should spend the time in a beautiful relaxing place with good internet access trading. You should also use SimpleFX WebTrader - the best mobile trading app.
Making the most of every trading opportunity
SimpleFX WebTrader is an intuitive easy-to-learn margin trading tool designed for every device. When margin trading you can benefit from the prices going up or down, which is going to be essential in August as all the instruments are entering a breaking point.
At the end of July Bitcoin has dropped significantly after it's impressive rally from $4,000 in April to heights of almost $14,000 in late June. These price levels have not been seen since the very early 2018. Altcoins followed the apex cryptocurrency. Ethereum went above $360 on June 26 but soon started to decline rapidly.
Anything is possible in the coming month of August. Some coins may drop heavily but it is equally possible they will fly up to unseen heights. This extreme cryptocurrency volatility can be easily coined to a profit. Especially, if you can trade with leverage.
Brokers such as SimpleFX offer an up to 5x effective leverage when trading Bitcoin, Ethereum, Ripple or other cryptocurrencies. This feature removes yet another barrier that many beginner traders have.
Since when seeing an opportunity to profit you can open a much bigger order than your account deposit.
Let's say you have $100 and see Bitcoin climbing rapidly as it took place on July 18, when BTCUSD surged almost 10% in 30 minutes. You can open a roughly $500 worth position and earn five times more.
The good thing about margin trading with apps like SimpleFX is that the upside of your trade is unlimited as Bitcoin can explode at any moment, while the downside is capped by the funds you have on your prepaid account at the moment.
August is going to be the hottest trading month of the year and we want to put even more heat to our already scorching platform. Throughout the month SimpleFX will offer a 20% lower spread (here are theT&C). You'll get all the saved money back with a cashback transfer to your account.
Make sure your account is funded and ready to go before August 1.Check out if you have any live account active.
Spread the word using the new August Cashback Promo banners in the Unilink.io affiliate panel.
Make a guess and win Bitcoins
Once again we give away $250 in Bitcoins. Just try to guess the value of the next Nonfarm Payrolls (NFP) that is going to be published on August 2, at 8:30 a.m. EST (12:30 UTC). Publish your prediction in SimpleFX ShoutBox.
This article was submitted by SimpleFX.