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Finance

Finance

The tasks reserved for your company secretary! 

A company secretary is countable for several tasks in a firm. The tasks are done regularly and the secretary only is accountable for those tasks are classified as Routine Secretarial Services. The secretary will be the central administrator in charge of several administrative and reporting duties. He will assist with the provisions such as the filing of annual returns, recording, and filing of board resolutions as well as other corporate compliance matters with ACRA.

In addition to regulating and ensuring compliance with pertinent legal regulations, a competent company secretary in Singapore like the company incorporation service provided by Heysara who support the Company Secretarial Services moreover has the following responsibilities:-

Board Meetings

Co-coordinating the procedure of the company’s legal decision-making and documenting machinery; developing meeting plans with the chairman or the chief executive; attending meetings, taking minutes; maintaining minute books; and ensuring that correct procedure are followed.

General Meetings

Originating and obtaining internal and external agreement to all documentation for circulation to shareholders; co-coordinating the administration and attending of conferences, taking minutes, and assuring that exact protocol is followed.

Company Constitution

Assuring that the company acknowledges its constitution and drafting/incorporating modifications following exact protocols.

Maintaining Statutory Registers and Books:-

Statutory Returns

Updating ACRA on:-

  • any differences in the directors of a firm or attributes associated with the director(s)
  • modifications to a directors name or residential address
  • disposal from office in accord with the Singapore Companies Act or the constitution
  • disqualification from clasping office
  • appointments/resignations/deaths
  • annual return
  • modification of company name
  • adoption, substitution, and cancellation of a constitution
  • topic of shares
  • any other modifications that need updating with ACRA

Report and Accounts

Organizing the publication and distribution of the firm’s annual report, accounts, and interim announcement, and the preparation of the directors’ summary.

Share Registration

Conserving the company’s register of partners, dealing with transfers and different matters influencing shareholdings, and dealing with queries and petitions from shareholders.

Shareholder Communication

Conveying with the shareholders (i.e. through circulars), payment of earnings and interest, allocating documentation considering rights issues and capitalization stuff, general shareholder connections, and relations with institutional shareholders and their investment protection councils.

Shareholder Monitoring

Monitoring modifications within the register of partners to specify an apparent ‘stake-building’ in the firm’s shares by probable takeover bidders and giving rise to inquiries of partners as to helpful ownership of possession.

Share and Capital Issues, Transfers, and Restructuring

Enactment of changes in the hierarchy of the company’s share and loan capital and devising, enforcing, and conducting directors’ and workers’ share participation strategies.

Acquisitions and Disposals

Participating as a main partner of the company team ascertained to execute corporate accessions and removals, conserving the company’s interests by guaranteeing the cogency of all documentation and that due diligence disclosures enable reasonable commercial examination previous to fulfillment of a transaction.

Corporate Governance

Reviewing growths in corporate administration and advising and helping the directors concerning their responsibilities and duties, compliance with their commitments under company law and, if acceptable, Stock Exchange requirements.

Company Seal

Assuring the safe supervision and adequate use of the company seal if furnished for in the company constitution.

ACRA Compliance Alert and Reminders

HeySara will deliver reminders to you on documenting deadlines and compliance consequences.

When erecting a company in Singapore, it is significant that you commit to the services of a talented team to help you. Being the prominent service provider, the company incorporation service provided by Heysarawould allocate a committee of qualified professionals. 

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Finance

How do I apply for DP? 

If you are scheduling to shift to Singapore with a family fellow who has shifted there for a job, you will require a Dependant’s Pass (DP). 

What is a Dependant’s Pass?

A Singapore Dependant’s Pass (DP) Scheme in Singapore is a relocation visa handed out to assigned family partners of S Pass owners, Employment Pass, EntrePass holders, or Personalised Employment Pass (PEP) owners.

Dependant’s Passes are reasonable as long as the owner of the major Singapore work visa is actively laboring in Singapore. DP pass owners can dwell, infiltrate and evacuate Singapore voluntarily without having to pertain for different Singapore entry visas. 

What papers do I need to apply for a Dependant’s Pass?

  • A finalized Dependant’s Pass petition form
  • A copy of the personal particulars paper of you/ your kid’s visa
  • A copy of the official relationship, birth or adoption certificates as evidence of a relationship
  • Academic enrolment details in an academic institute in Singapore
  • Salary details for the extremely recent job 

Do remark that application forms for kids under 16 should be approved by the parent on behalf of the kid. Relevant certificates that are not in English must be deciphered by a certified translator and fulfilled along with the actual certificate copy.

Who is capable of a Dependant’s Pass?

Spouses and single kids under 21 years old (both birth and lawfully accepted children) of Employment Pass, S Pass, EntrePass, or PEP owners who are reaping at least S$6,000 a month can request for a Dependant’s Pass.

Common-law spouse of Singapore works visa owners are not capable of a Dependant’s Pass Scheme in Singapore. Nonetheless, subject to specific conditions, they are usually capable of a Long-Term Social Visit Pass (LTSVP).

How do I apply for a Dependant’s Pass, and how extended does the procedure take?

Dependant’s Pass applications can be accepted either online (for dependants of Employment Pass and S Pass holders) or manually (for dependents of EntrePass, Personalised Employment Pass, and Employment Pass (sponsorship) owners). DP applications must be pertained by the employer of the Singapore work visa holder and documented individually for each capable family member. 

DP applications are generally processed between 3-5 weeks. If the DP petition was introduced jointly with the Singapore work visa application, the effect will be vastly likely realized at the same time.

How do I recognize if my Dependant’s Pass has been authorized, and how do I take it? 

When your Dependant’s Pass application is ratified, an In-Principle-Approval (IPA) letter will be handed out by Singapore’s Ministry of Manpower (MOM). The DP applicant must be in Singapore to receive the pass. 

You will require submitting the following papers when you receive your Dependant’s Pass:-

  • The IPA letter you obtained
  • Your/your kid’s visa
  • Any extra documents desired in the IPA letter such as medical test summaries, embarkation/disembarkation cards, etc.

Can Dependent’s Pass owners apply for permanent residence?

Yes, Dependant’s Pass Holders can pertain for permanent residence (PR) in Singapore jointly with the Singapore work visa holder. If the Singapore work visa owner’s PR petition is authorized, the PR petition of the DP owner will be authorized as well.

Ask the experts at Timcole and get their assistance. Be it just incorporation of companyor any additional petitions for documents, we are here to help. 

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FeaturedFinance

Investing is silver bullion coins or bars

For year precious metals have been held as alternatives to stocks, bonds and other traditional investments. When the economy is not doing well, central banks resort to printing more money this devalues fiat currencies and raise inflation which is why people hedge their bets with precious metals like silver and gold. 

When a precious metals investor decides to “get physical,” he or she often begins with a silver purchase, even before getting to gold. The low price of entry (relative to other precious metals) makes a physical investment in silver possible even with a very small amount of capital. And with a first investment in physical silver, a popular choice is, of course, the silver bullion coin. 

When an investor decides to buy physical bullion, he might consider silver before gold. This is because of the low price of silver which makes it a low entry level investment. You can buy silver for a very small amount of money. Silver is often popular as a first investment in precious metal. 

A lot of investor love silver because it retains its value in difficult time it also serves to protect their wealth from inflation. This way investors can be sure that they have a currency that cannot be inflated or deflated by continuous money printing or falling interest rates. There are a number of ways to invest in silver:

Bullion Coins or bullion bars

Investors buy physical silver like coins or silver bullion coins because of the emotional satisfaction they get from having something that is more tangible because you have physical possession of the metal. When the price of silver rises you can sell silver bullion and make a good profit. When buying silver you have to be aware of the spot-price so that you know that you are buying it at a fair price the same is true for when you sell silver you need to know what the current spot price of silver at that point. You might not get the exact price for your used silver bullion especially when you are selling to a dealer because other costs are factored into what you’ll get offered.  

You might think that the only difference between silver bullion coins and silver bullion bars is their appearance and weight. That is not the only difference. These two forms of silver bullion products differ also in their purpose. Silver bullion coins have a legal tender value making them currency in their respective country of origin. Bars on the other hand aren’t classified as such and are therefore only valued for the silver content. It’s easier to sell silver coins during crisis than it is to sell silver bullion bars. 

Some investors may have bought numismatic silver coins. These are different from silver bullion coins. They have no legal tender hence no guarantee that they may be used as currency one day. Numismatic coins are valued for their rarity and their uniqueness. Of course the amount of silver is important but unlike bullion coins, numismatic silver coins aren’t made with the finest silver. However, they are known to trade over the silver spot price. Whatever type of silver product you may have, make sure you trust the dealer to offer a fair price.

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Finance

Simple Tips for Investment in the Forex Market

The Forex market is a complex but fascinating one for investment. Forex traders have no dearth of opportunities to make money. However, one needs to constantly work on their skills, to consistently grow within the Forex Market.

Every competent Forex trader knows that a strategy and a detailed trading plan are crucial when it comes to consistency in the trade. After choosing a trading strategy, one needs to stick to it for a while to observe whether the strategy is yielding the desired results within the current market scenario. A few important tips will help guide someone who wants to succeed in Forex trading.

How to navigate the Forex marketplace

  1. Make a start

Most traders do not emphasize the importance of consistency in trade. They rush to change their strategy as soon as the trade goes in the wrong direction. Since trading is a game of probability, one need not always be right about market direction. However, you need to stick to a strategy that ensures a good risk to reward ratio.

A trading strategy must be tested upon by multiple trades to see if it is suitable for the current market scenario. This is extremely important since any strategy takes a little time to show its true potential.

  • Determine your risk appetite

Since you need to make a few trades to test a strategy, you need to limit the risk involved in each trade you make. It will give you scope to test multiple trade strategies. Let’s say, you risk only 1% of your account in each trade. In such a case, you will need to encounter 100 consecutive losing trades to run out of money. This is highly unlikely.

So, play safe during the testing phase and establish a strategy that works. After that, you can go and win big!

  • Study the game

A successful trader takes the time to study his trade. Detailed analysis regularly allows opportunities to learn what works for a particular trade, and even more so what does not work. Forex is no exception.

See to it that each of your trades is in harmony with your strategy. Do not get too excited or emotional about your trades and avoid making unnecessary trades. After analyzing which trades were made according to your strategy, you will know whether your strategy works in the current market environment.

  • Use a limited number of instruments

The Forex market offers many trading opportunities each day. However, it is not always possible to keep track of every order. So, start by tracking a few instruments so that you are aware of your entry and exit points based on your strategy.

After testing your strategy on multiple instruments, you can add more pairs to your watch list. Evaluate which strategies work with those pairs and you will have a set of strategies at your disposal.

Having a variety of strategies is crucial to consistently succeed in the Forex Market. The strategies will help you adapt to the ever-changing market scenario and keep your risk low.

So, use the aforementioned tips and succeed in the World of Forex trading.

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Finance

Are kazano coin and Cryptocurrency the same thing?

Digital money that can only be gained through the use of the Internet is called cryptographic currency, or simply crypto. No physical representation of this money exists; instead, it exists in the user’s imagination simply as a numerical value.

Cryptocurrency has the following characteristics:

These computers aren’t tied to any one government or bank, and the “blockchain” systems are shared by everyone who participates in this system.

Unauthorized operations are virtually impossible with blockchain’s near-perfect security.

Anywhere in the world can carry out cryptocurrency-related actions.

Participants’ personal information is safely encrypted at all times.

Is it possible to describe the look of kazano coin?

Each cryptocurrency has its own regulations for issuing new coins.

High-performance computers are used in mining to create new currency.

The act of creating new blocks in order to speed up system transactions is known as forging (confirmation of transfers between users).

An energy-intensive activity, mining requires a lot of resources. Using large amounts of computing and energy resources is required. New currencies can be generated even by so-called mining farms, which are made up of a huge number of computers that are linked together as a single entity. To put it another way, it will be impossible to create cryptocurrency using a typical home computer.

Having a cryptocurrency serves what purpose?

Because it’s so easy to store and buy with, cryptocurrency has evolved from its original purpose of serving as an alternative to fiat currency to become a widely accepted medium of exchange in its own right. It is also feasible to profitably invest in digital currencies by purchasing at a time when the rate is low and selling when the value is high, due to the constant fluctuations in their value.

When buying bitcoin, what’s the best way to do it?

New investors and people interested in digital currency frequently ask the question, “Where can I buy cryptocurrency?” A public or a private bank cannot accomplish this (despite the fact that the purchase of bitcoins in Russia is not prohibited by law). When it comes to beginning out, many ways are available to everyone.

In order to buy cryptocurrency, here are the steps:

Trading digital currency on an exchange is a specific trading platform for digital currency purchases and sales.

Convert your Bitcoin to kazano currency through one of the many online money exchange services.

Transact with the currency’s owner directly.

In what ways might a cryptocurrency exchange be used to purchase bitcoin?

To trade digital currencies, there are a variety of dedicated cryptocurrency exchanges. Some of the most well-known cryptocurrency exchanges include Binance.com, Coinbase.com, and Bitfinex.com. On this platform, anyone can buy and trade almost any coin. This is where “coins” buyers and sellers meet and trade.

Follow these procedures to buy digital currency on the exchange:

Choose the “Buy Cryptocurrency” option and enter how much cryptocurrency you want to buy; next, sign up using your email address and validate your account in the system.

Payment with a credit or debit card; awaiting the transfer of assets to your account on the market; Exiting the exchange with digital currency

Buying cryptocurrencies with the help of a kazano coin exchange

On the Internet, you can use one of the many exchanges to quickly convert rubles to bitcoin. However, they routinely overestimate the value of cryptocurrencies in order to raise the price at which they sell them and therefore make more money than they ought to be earning. You must also keep a close eye on the rate because it changes during the day.

Make sure that the exchanger accepts your preferred mode of payment before making a final decision. Finally, the size of the service commission is likely the most important factor (it can be at least 5 percent). A pre-issue pre-issue sale of the KAZANO currency may be purchased at a discount before the currency is released to the stock exchanges, and its value will rise by thousands of percent when the currency is launched to the markets and stock exchanges. If you’d want to purchase it in advance, you may do so on their website: https://qoozza.com/join/kazano-coin-18 .

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Finance

EcoMarkets Review: What Makes a Trading Company Good for Beginners?

Do you know that there’s a wide variety of online trading companies out there on the web? Well, if you’ve tried getting into the online trading world before, you may have the right idea about how difficult it is. Speaking frankly, you should know that when you’re with the right online trading company, everything becomes easier to deal with. This EcoMarkets review is all about finding a good online trading company that can fulfill your trading needs and requirements. If you’ve got some idea about what I’m talking about, then you’ve probably that I’m going to talk about the qualities of a great platform.

Stick to the end of the article to learn more about an amazing trading services provider that has started gaining thousands of users now, i.e. EcoMarkets.

Intelligent Industry Policy Compliance

As a word of wise that comes from an experienced individual, you should never trust a trading platform that doesn’t comply with the industry’s rules and regulations. This is for your safety and the safety of other traders on the web. Why is that? Well, the industry’s regulatory authorities have outlined specific criteria and a set of rules that every trading services provider and other financial services providers must adhere to. In case a company fails to do so, the authorities have the power to seal and shut down such trading companies on the web. This could result in losses for thousands of traders.

However, EcoMarkets has complied with all types of industry-required policies, standards, and has received the latest regulations. For one, the company complies with KYC and AML policies to ensure that only legitimate and non-money laundering individuals get on the platform. Further, the company obeys the security codes and standards to keep all traders safe and secure.

High-End Security Upgrades and Updates

The company, EcoMarkets, is famous among modern traders for offering the latest security patches and updates despite their heavy costs. Doing so has benefited the company in several ways. Firstly, the company has peace of mind along with all its traders who are investing their hard-earned savings through the platform. Secondly, the company is trusted in the industry for spending huge amounts on incorporating the latest security details and programs on its website. It has made EcoMarkets popular and put it among the most trustworthy trading platforms on the web.

There’s nothing that beats security so you should never ignore this factor when looking for the best online trading company to fulfill your trading need and requirements. EcoMarkets also offers 256-bit encryption on the website to keep your, i.e. trader’s, information, and funds secure. Through the 2FA login process, the company ensures that no one besides you can enter your trading account and use the funds for investing in assets.

Reliable Trading Platforms with Tools

Also, you should consider the level of trading platforms and tools you’re receiving from the trading platform you’ve chosen. This is a crucial step in building an amazing trading career. EcoMarkets has installed the latest tools and features on its platform and allowed nearly all traders to benefit from them. Whether you sign up through the basic trading account type or a professional-level trading account option, you’ll have a ton of features at your service.

This defines the emphasis that EcoMarkets has laid on its trading platforms. You can download reliable versions of the trading platform on your smartphone or any other modern portable device such as an iPad, tablet, or laptop. This will allow you to trade on the go if you’re someone who’s always caught up in a hectic routine.

Conclusion

When an opportunity knocks on your door, it’s best to give it a try even if you plan to reject it. Who knows? Maybe, you could be a skilled and profitable trader in the future. Starting with the beginner-level trading account is the right decision when you’ve got a lot on your plate. Otherwise, you can start directly with an advanced-level trading account and learn to trade at a faster pace with EcoMarkets.

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Finance

Claim Justice Review: A Leading Recovery Firm

If you have lost any money to a scam online, you need the assistance of a recovery service that can help you out. I will suggest you seek the help of Claim Justice who are a very well reputed firm that can help you in recovering your money. In this review, you can read about their top features that will tell you why you should consider them if you have been scammed. 

Great Customer Help

It is very important for scam recovery companies to have excellent client support and the good news for you is that Claim Justice does not disappoint in this regard at all! They have excellent customer support team who you can contact them for any assistance. What you should know about them is that they are very skilled and whether you need help with your case, have a question to ask them about their scam recovery services or anything else, you can rest assured that they will be able to help you!

To contact them, you can shoot them a message via the form on their website or use the live chat option on their website. After you do so, one of their team members will then get back to you to help you out. You can be confident that they will not leave you hanging and get back to you very quickly so that you do not have to wait too long for a response.

Affordable Service

The reason why Claim Justice is considered one of the best scam recovery companies in the world is that they offer the most affordable services right now. Most of the scam recovery firms charge quite high and you might end up paying them a lot of money to recover your own stolen funds. You do not want to do that! That said, with this company, you will not be paying anywhere close to this high fee. In fact, their services are modestly priced. You will only be paying their team a very small fee upfront along with a small commission on your funds after they are retrieved from the scammer. 

Overall, the fee is low and the cherry on the top is that the first consultation with their team is free of charge and you do not have to pay them anything for that! How cool is that! 

Team of Experts

Claim Justice has a very professional team of experts that you can count on to take care of your case and do everything possible to claim the justice on your behalf and get back your money that was stolen from you. You can expect the best possible support from their team as they are very helpful and have helped many people before to recover their money. That is why you can trust their experience to help you as well! 

Their team comprises lawyers and other experts who will fight for your case and do everything from laying out a careful plan at the start to filing lawsuits against those who have scammed you. Just make sure that you provide them all the proof of the scam including any receipts and other relevant paperwork. After that, you can rely on them to assist you and keep you updated at every step of the way as well! 

Bottom Line

Overall, there is no denying that Claim Justice is a terrific recovery service that goes out of their way to recovery your money for you. You can count on their team of experts and customer support at every stage of the journey. They are the real deal and every customer of theirs will tell you the same. I will also like to highlight that you can read the crypto scammer list on their website which mentions all the common scams in this industry right now. By reading this list you will be more aware and vigilant if you get approached by some scammer in the future. 

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Finance

Should beginners trade options?

Options are among the most powerful financial instruments available to investors, yet there is no consensus on how beginners should use options. Some traders advocate a conservative approach and argue that beginners should not buy or sell naked.

In contrast, others argue that selling covered calls can be rewarding for beginner options traders. Others argue that selling index futures using cash-secured puts also provides a low-risk way for beginners to gain exposure to equities without buying individual stocks outright.

What is Options Trading?

In finance, an option is a contract that gives the buyer the right, but not the obligation, to buy or sell an underlying asset or instrument at a specified strike price on or before a specified date. The seller of such a contract is called a writer of the option. A call is, in essence, a bet that the stock will rise above the strike price by expiration, while a put is, in essence, a bet that it will fall below.

An American style option can be exercised any time before its expiry, while European options may only be exercised on specific predetermined dates. Because of this difference in where they can be traded and when they expire relative to each other, US options are more common than their European counterparts. As far as traders are concerned, the option is simply a stock purchase with additional features and restrictions.

Two types of options contracts: Puts and Calls

The first type, Put, is an option contract that gives the owner the right to sell a certain amount of equity at a specific price within a predetermined time frame. Calls work exactly as you might expect them to: they give the holder the right to purchase a given equity within a preset time and at an agreed-upon price.

An Options Trading Strategy

When trading options, it is possible to take advantage of both rising and falling markets and retain many of the benefits that can be obtained from buying shares or other financial instruments directly without actually having to buy them. One of the key benefits of trading options compared with owning actual stocks is rights. Still, traders can often limit their risk by carefully choosing which ‘side’ they take in buying and selling options.

This also means traders need much smaller funds than those required when forex or commodities trading, for example. Of course, there are equally as many opportunities to lose money and these benefits if approached incorrectly, mainly because options trading is a complex market to understand. For this reason, beginners should seek expert financial advice from a reputable saxo broker before beginning.

An Options Trading Example

A simple example of the benefits available when trading options would be if an investor wanted to make a one-off purchase in company XYZ but was not sure whether the share price would fall or rise before the option expired. If they bought call options giving them the right, but not obligation to buy shares at $50 by expiry then if the price went up they could simply let their option expire, losing only some small brokerage costs which can be as little as $150 depending on where it is traded.

However, if instead, they believed that XYZ was going to go down in value they could have sold put options and made a profit despite the share price falling. For example, if they sold XYZ $30 puts they would make money if XYZ’s value fell above $30 by expiry making it worthwhile to buy them back for less than this (in order to close out or “exercise” their option).

Conclusion

Trading options requires valuable knowledge and expertise on the market and on the specific options being traded, which are very difficult for someone new to the market to acquire. Therefore, beginners should refrain from trading options until they have significant knowledge of how the market works and what types of different options are available.

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Finance

What is Your Method of Value Investing in General?

The Beginner's Guide To Value Investing

Value investing is the strategy of investing in undervalued stocks trading for less than their intrinsic value. It is based on the belief that the market will react to good or bad news resulting in stock price movements in your favour. 

Meaning: 

Well, imagine buying a Rs 20 chocolate from a superstore near you and then buying the same chocolate from your local store for Rs 18. As a businessman, wouldn’t you buy Rs 18 chocolate, sell it for Rs 20 and then make a Rs 2 profit? Well, that’s what value investing is—buying low, selling high. 

The basic concept behind everyday value investing is straightforward: If you know the true value of something, you can save a lot of money when you buy it on sale. Most folks would agree that whether you buy a new TV on sale, or at full price, you’re getting the same TV with the same screen size and picture quality.

In the sense of the stock market, as a value investor you would focus on buying stocks that are undervalued, waiting for the right time to sell them off and reap the benefits of your patience. However, millennials don’t buy stock as a long-term investment but rather as a quick cash option, which is not intelligent investing.  

Now, if you are wondering how to take the first step towards value investing, well it’s simple. 

  1. Find

Usually, when you invest in equity, you find the right company first. Similarly, as a value investor, you have to find the right company, the right stocks to invest in, keeping in mind the companies that will prosper in the days to come, whose stock price is low and which ones are doing well but are not known to many. So, basically, you have to analyse the company to find the best investment option. 

  1. Evaluate

To reap the benefits in future, you have to evaluate the nitty-gritty of the company, analyse the annual reports from the past four-five years and see the trend. Is their profit growing? Are they acquiring assets? Do their assets value more than liabilities or vice versa? All these questions as a value investor will bring you profits in the future as you understand the company’s trends and why it is undervalued. 

Do your research on:

  • Its long term plans 
  • It’s business policies 
  • Financial structure and reports 
  • The team- Managing director, CEO, CFO, other members 
  1. Invest 

You found the company, evaluated the annual reports, and found the undervalued share, well its time to invest in the stock. Don’t put all your eggs in one basket, but  invest and make the share a part of your portfolio for the long term. Patience is the key to value investing. 

Value investing is not for everyone. To some, it might feel like a slower option to earning, but there is wisdom behind the idiom “slow and steady wins the race”. As a value investor, this should be your motto: to earn profits, a steady income, and low risk. 

For excelling in value investing you need to have strong research and regular updates about the stock market. What if you can have access to stock market updates in 50 words with just one click?

Best finance information app – the FlipItNews App is all set to revolutionise the way Indians perceive finance, business and capital market investment.  FlipItNews launched “Circle”- a community of smart investors. A smart platform where any fin-tech company can build its community. 

Feature Circle provides you with the opportunity to learn from market advisers, fin-tech companies, wealth advisors etc and engage yourself with other users through group discussion, polls and quizzes. Also, earn flipitcoin for every action.

Download the best app for finance –  FlipItNews App now and get stock market latest news in Hindi too. Join Circle to become a part of the biggest investment network.

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Finance

Spot Gold Trading: Things to Know

Trading spot gold is as simple as selling and buying gold at a spot price. Nut there is no existence of brokers or market makers in spot gold trading. Traders can buy or sell directly among themselves on an online platform. Fractional amounts of gold coins, ingots or bars can be sold in spot gold trading. This very thing makes this an affordable option for even small investors. One can venture into the world of spot gold by following a few steps. 

Opening an account

There are companies that offer spot gold trading option. The very first thing to do is to open an account with such a company. Check the credibility before submitting all the paper works. Try not to choose companies that trade gold using exchange traded funds or gold funds. When you open the account with your selected company, ask for a demo account. Do your own job and learn the things that can be done on the platform. If there are any questions you need to ask, make sure to contact the customer care representative. While choosing the company, it is necessary to look for their customer service. You might need their help quite a few times during your stint. 

The ask price and bid

The ask price and bid are two different but major things in spot gold trading. The bid price is the one with which you buy the gold. The ask price is the amount for which you sell your gold. The amount of spot gold varies a bit from city to city. Make sure t choose the city and then go for bid and ask price. Make good use of your demo account. Buy gold when you think the price will ultimately rise. Sell it if it feels like the price is going down. Keep doing trade until your losing trades are outnumbered by your winning ones. 

Start trading

Ones you gain enough knowledge and confidence to start trading, it is time to fund the account. Then you can just go on to trade spot gold (เทรดทองคำ, term in Thai) and earn. Make sure to keep a record of all your transaction for future tax records. 

The benefits of spot gold trading

Spot gold is something that assures both buyers and sellers of the gold they are buying or selling. The platform provides a place for a price discovery mechanism that is transparent. This process is beneficial for an organized market that is comprised of formal and authorized players across the chain of gold value. It might encourage the unorganized traders and jewelers to get integrated in the formal system. Spot gold trading might become able to get rid of the unorganized sector. There are also options like gold ETFs which enable one to get different options to invest in gold than owing it physically. 

There are things to know and learn about spot gold trading. Putting the right bid at the right time is the key to success. It will be easier to deal in this sector with better understanding gained through proper training.

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