So much is going on as we are about to enter October. The crypto, forex, stock, forex, gold, and oil. 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 October – make sure you make the most of it.
In September the Federal Reserve has not only cut interest rates but also pumped $278 billion to the banking system in overnight funding. The New York Fed has already declared that it’s going to continue the repurchase operation until mid-October.
This is a piece of great news for the margin traders. Every instrument can be affected, this should bring more volatility to the markets. Both gold, silver and cryptocurrencies markets should include this information into the prices.
The European Central Bank also decided to cut the deposit rate from minus 0.4 to a record low minus 0.5. The world’s banking system is entering uncharted waters, and it will have an impact on forex markets.
How about oil, one of the favorite commodities among SimpleFX traders? The oil markets in October are going to be even more interesting. Apart from the long term uncertainty of the future macroeconomic trends – in simple words when will the downtrend come – we have plenty of geopolitical tensions. The regional conflict between Iran and Saudi Arabia (the proxy war in Yemen) has resulted in many incidents that shook the oil prices.
In the background, the Saudis are lingering with the IPO of Saudi Arabian Oil Co. more widely known as Aramco.
For CFD trader this means great times for making a profit. October is one of the busiest months for business and trading. Make sure you make the most of it trading on your desktop, laptop or mobile with the same platform.
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 October as all the instruments are entering a breaking point.
At the end of July Bitcoin has dropped significantly after it’s an 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 October. 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.
It’s 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 the T&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 October 1. Check out if you have any live account active.
Spread the word using the new October Cashback Promo banners in the Unilink.io affiliate panel.
Make a guess and win Bitcoins
Once again we give away $200 in Bitcoins. Just try to guess the value of the next Nonfarm Payrolls (NFP) that is going to be published on October 4, at 8:30 a.m. EST (12:30 UTC). Publish your prediction in SimpleFX ShoutBox.
Disclaimer: The statements, views, and opinions expressed in this article are solely those of the author/company and do not represent those of Bitcoinist. We strongly advise our readers to DYOR before investing in any cryptocurrency, blockchain project, or ICO, particularly those that guarantee profits. Furthermore, Bitcoinist does not guarantee or imply that the cryptocurrencies or projects published are legal in any specific reader’s location. It is the reader’s responsibility to know the laws regarding cryptocurrencies and ICOs in his or her country.