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How to make money in the forex market?

The forex market is the place where buying or selling of currencies happens. Pair is made up of two different currencies, where one is called the base currency, while the other is called the quote currency.

What is the forex market?

Have you ever heard of a dog fight? That is what the forex market is, except that the dogs are not really dogs in this pit but the different currencies.

However, the idea of foreign exchange can be when a traveller travelling from his or her home country to a different country has to get the currency changed into the fiat currency that is prevalent in the host country. While this is the basic idea, forex trading takes everything up a notch by adding many different features in the whole game.

What are the ways to earn in the forex market?

There can be various ways to earn in the forex market. The basic ways to the most complex of the. All have one thing in common, and that is buy low and sell high. Now let us look at the different ideas of trading in forex to earn money.

What is Leverage?

Most traders take leverage as a bad way and think that it is primarily the way of losing money more than rapidly, but the truth is that if used carefully, leverage can help a lot of traders to attain their financial goals much earlier than they thought it would take.

The way leverage works is very interesting. Let us assume that a broker is offering leverage of 1:500. The trader here can enter a market of five hundred dollars with just one dollar a capital. A trader can enter a market of five hundred thousand dollars with just five hundred dollars.

This is more than better for a novice since they generally have less capital, and forex is the most profitable market.

The forex market is responsible for more than six trillion dollars traded in one single day. Since the market is that liquid, there are various money-making opportunities for the traders which assure massive returns.

What are future contracts?

This is another trading strategy that can help a trader earn some quick money. A futures contract involves two parties where one party predicts that the market is either falling or rising and then make the bets accordingly. Another party that thinks that money can be made off of this deal enters the deal. Shortly, when the contract’s maturity date arrives, both parties have seen the result.

How does a futures contract work?

When a party speculates that an asset’s price will fall (the asset is a currency pair here) and another party predicts rates will rise, they enter a contract. This contract has an opening date and a closing date.

The fate of the contract is decided on the day it closes or matures. Suppose the price does fall, then the selling party is in a loss or the price rises, then the selling party is in profit. It has to be kept in mind that the asset’s price on an opening day does not matter, the price on the closing day is what matters the most, and that is how they win or lose situation is decided.

What is Trading forex in options?

Options trading is almost the same as a futures contract or trading in contract for differences. Here the trader has liberty, not a liability, to actually own the underlying asset on which the trade is conducted. In trading for CFDs or contracts for differences, the traders have to show that they have ample space for the number of assets they are betting on, just in case they actually have to store them.

For example, a trader trading CFDs in oil barrels might have to shoot if he or she has the space to hold, say, 1000 barrels of oil.

This is not the case with options trading. Here, there are two types of calls: the put and the call. The put-call means that the trader is open to selling, and the “call” means that the trader is open to buying. If a trader sees a market move that is about to move in a favourable direction, he or she makes the buy to make a profit, and when there is a chance of the market falling, traders generally look at selling their options.

Conclusion:

Entering the forex market is relatively easy because of trading tools like leverage, margin trading, and some of the features mentioned above. But the fact is that all of these can also harm the traders in an unprecedented way. The traders are advised to sue them carefully because once the market turns on to the trade, there is nothing but chaos.

Looking up to a good broker can be of great help. One such broker is HFTrading. The broker has been around for a lot of ties and works around New Zealand and Australia.

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Business to Business Payments – Different Types & Challenges Faced!

Owing to the ease-of-use, convenience, and availability of modern technology, financial management has become quite easy for the modern businesses these days. While many businesses, still, use the traditional cash payments for their Business to Business payments transactions, there has been a rise of companies which have adopted electronic B2B payment methods.

When opting for a payment mode for your modern business, there are many factors that must be considered, such as security, processing time, etc. While one payment mode can work for a business and not for another one, choosing the right business to business payments methods can be quite challenging. This is why we bring to you this detailed guide on different types of methods available along with the challenges associated.

The different kinds of B2B payment mediums

Cash

This is the traditional method that has been used by most businesses since a long time, but this seems to be gradually obsolete. These days, especially when it comes to business to business payments, it seems weird to come and pay a supplier a briefcase full of bills.

Checks

In addition to cash, accepting checks is also another commonly used traditional payment method. After all, it is relatively easy and there is also a trust factor associated with this payment mode. This category includes traditional paper checks and electronic checks issued by a purchaser to a seller. Once the check is deposited to the bank, the payment request from the buyer’s bank will be sent to the seller’s bank.

Wire transfers

In this modern day, when more and more businesses are working with clients who may be located in other cities or countries, using wire transfer has gained popularity. Introduced over 150 years ago by Western Union,the payment is electronically routed through a financial network like SWIFT and Fedwire. While it can be expensive, but many businesses rely on this method to accept payment from international clients.

Credit cards

Almost everyone, these days, owns a credit card and it can be accepted for business to business payments. However, it is not accepted by many businesses, especially the ones operating at small scale because of the processing fee involved.

Payment gateways

If you have been working with the international clients for long, you would be aware of the different types of payment gateways such as Paypal, Stripe, Square, and Bill.come. The best part about using these payment gateways for payments is that the buyer can make the payment to seller, which is received instantly. The process is quite easy, allowing the buyers to pay for good and services online during the checkout process.

The Obstacles for B2B Payments

Payment mediums variety – While there is a large range of payment methods available for business transactions, they also have their own drawbacks. The reason here is that not all businesses are the same, which means not all the payment methods will work for all of them. For example, one business may find accepting check for payments, while other may like to receive online payments for quick and easy payments.
Security issues – We are living in this age where online transactions are very common. While the scenario has made things easy, it also poses security threats for the businesses as well as their buyers as the online hackers are always looking for the vulnerable platforms. When it comes to accepting online payments, things can be quite tricky as the data is exposed to the hackers who know how to get access to the financial details. According to a study conducted by Deloitte, over 22% of the middle market business have been attacked by payment fraud in recent years. To ensure safety, it is important to ensure having a secure payment method and gateway that is encrypted with the advanced technology.
Transparency – Almost every business, that received payment, would like to know about the status of the payments being made. The goal is to control the cash flow of a business. In case a particular payment method is not offering transparency, things can be quite challenging and hectic for the business.
Cost – When you are accepting payments, you need to keep in mind various costs such as fee for transaction and account maintenance that you need to bear. For example, if you are accepting payments through wire transfer, you have to be willing to pay significant fees for payment services. While there are certain fee involved with the online payments as well, you can opt for a business to business payments partner that offers best price for your transactions so that you can save more on every payment being received.
Time – Following the complex process involved with the business to business payments processing, it can take days for the payments to be received. So we can say that it is time-consuming to get all the payment made as expected. According to the experts, it takes over 40 days to process a B2B payment, especially when receiving through the traditional payment methods.
Benefits of B2B Payments

When you integrate a suitable payment methods to receive payments for the sales of goods or services, you are likely to enjoy a range of different benefits associated with it. Some of them include:

Improved cash flow – For a business, ineffective cash flow management can be a challenge and cause of business failure. With the automated or online payment transactions, it is possible for the businesses to see the patterns in their incoming and outgoing cash flow via reports. This all helps minimize any unwanted results from financial management failure.
Save time and resources – Why hire a professional dedicated to process the payments, while you can have them all processed automatically online? This is the power of online payment transactions. This gives your team members more time to focus on other vital areas of operation or product development.
Final Thoughts

The technology has made life easier. And payment transactions are no exception here. Today, the modern business transactions are a lot complicated than the past, which makes it important to choose the right and smart business payment method with the reliable partner. Choosing the right payment platform for your B2B business is like choosing the right boat for your journey.

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10+ Best Chat Apps for Team Collaboration (Free and Paid)

Originally Published at Troop Messenger

Business enterprises always find better ways for team communication and collaboration. Instead of writing heavy emails daily, chat simplifies team conversations and organizes team tasks more efficiently. Many office chat apps for teams ensures a wide range of collaborative features for quick communication.

The Scottish-American business magnate Andrew Carnegie once said that teamwork is the fuel that allows common people to attain uncommon results.

He couldn’t have been more precise because time and again teamwork has proved to increase the efficiency of projects by distributing the workload so that great results are achieved on time and with quality. However, hiring skilled resources is just the beginning of building a good team.

Once a team is created, an organization needs to provide the teams with the platforms and resources to make their collaboration continuous. Besides providing good equipment and facility, there has to be a forum or medium where ideas can be exchanged and peer reviews can be sought. And that is exactly where Best Business Communication Platformsneed to be deployed. Team chat apps are carved out to provide functionalities essential for communication in team projects.

However, choosing the right team chat app among the hoard of such apps can be a tedious task involving a lot of time.

Therefore, to save time–the most precious possession these days–we’ll provide an overview of some of the best office chat software that businesses should deploy for better communication in team projects.

Team Chat Apps: A quick look

1. Troop Messenger
2. Flock
3. ezTalks
4. Basecamp
5. Google Hangouts
6. Zangi
7. Grove IRC
8. Redbooth
9. Flowdock
10. Brosix
11. Telegram
12. Podio

Troop Messenger (The Office user’s Team Chat App)
Attain optimum communication at your workplace with the new instant messaging collaboration application-The Troop Messenger. The design idea of Troop Messenger is to collaborate, share, and communicate new thoughts among fellow employees of every organization. Small, medium, large or any size of organizations can give a sure try of Troop Messenger for their endless office chat communication and collaboration.

Tech Times, Newyork, had listed Troop Messenger as one of the best Instant Messenger For Businesses In 2019.

Troop Messenger is a cross-platform application, as it is available on iOS, Android, Mac, Linux, and Windows. The best part is that it is available in three pricing plans. Its sign-up process is completely hassled free. Anyone can download it for free and start their hands on the application.

It facilitates highly workable features to support the office chat experience of the user by offering highly secured end-to-end chat encryption. Its bouquet of features includes Screen share, Burnout, Forkout, Video calling, Favourite contacts, Groups, etc.,

Flock ( The Affordable Team Chat App)

Flock is an all-in-one messaging and collaboration tool built especially for small businesses. The Goal is to help businesses communicate better so they can build a culture of transparency and speed within teams.

With Flock, teams can exchange messages, share files, video-conference, manage tasks, and centralize access to a variety of business tools and services. It brings people together and provides an easy and secure place for them to get work done, from anywhere.

Flock is used by over 32,000 businesses of all sizes around the world. We have a strong presence in all English speaking markets globally – the United States, India, the UK, Canada, Australia, and mainland Europe lead with the greatest share of our user-base.

Flock offers applications within every business function and organization size. Flock finds rapid adoption by teams in non-technical business functions as well, owing to its simple user interface and easy learning curve.

ezTalks ( The Reliable Team Chat App)

There is no doubt that ezTalks meetings is one of the most popular chat apps, which helps to increase real-time interactions and improve collaboration with your partners, your friends, customers and so on. It presents a way to cut the cost and chat effectively.

Free & EasyAnyone can download it for free and it is completely easy-to-use.

FlexibleezTalks is compatible with Windows, Mac, Android, iOS devices and browsers.

ReliableIt is a reliable platform with highly secured end-to-end encryption so that you can talk freely.

SeamlessezTalks not only provides high-quality video and audio chat but also offers free instant messaging service with text or emojis in private or in public over the internet seamlessly.InteractiveWhen chatting, you can also share a screen or a whiteboard to engage those you’re chatting with. It is also feasible to record the whole or partial chatting sessions for reference or sharing.

All these aim to create a memorable and amazing chat experience to each user. As for the paid version, it only costs $10/mo/host for up to 100 participants. Alternatively, you can start a 100-participant chat free-plan in 30 seconds. Sign up free NOW!

Basecamp (The Project-focused Team Chat App)

The campfire was merged with Basecamp sometime back but continues to offer some of the best features for team projects.

It is considered as a group chat tool for Internet-based companies by allowing managers to assign tasks, group notes, and download files.

Besides, it also offers regular chat features such as group chat and conference calls.

It is priced at only $99 a month, and whether one has a team of 5 or 50, that price doesn’t change.

Google Hangouts ( The Competitor Team Chat App)

Since a long time, Google Chat has been allowing people to communicate and collaborate without any charge.

However, there were some privacy concerns, and therefore, it was often less preferred for internal communication. It offers chat features such as one-to-one chats and allows a total of 9 participants in group chats in its free subscription plan.

An enterprise version of hangouts is called Hangouts Meet and its subscription plans start from $5 per month per user.

Zangi ( A Privacy-focused Team Chat App)

Zangi is a privacy-focused messenger with multi-level encryption and a serverless system. Its strong security measures make it great for companies & businesses that need to secure their confidential calls, files, and messages. Teams can simply download the app on their smartphones and have conversations with no risks.

If companies are willing to go the extra step, Zangi also offers a special business solution for teams. Businesses can choose to gain full control & privacy of the apps by self-hosting it on their company servers/cloud, making the apps completely theirs.

The communication app can have their company name, logo, branding, special security keys and it can be private/public on Google Play & App Store.

The app also gives a web dashboard for the full management of your team. Using the Zangi app is free; self-hosting it starts from $4/per user.

Grove IRC (The Hosted IRC Team Chat App)

One of the newer startups, Grove is a private IRC (Internet Relay Chat) host, which manages chat rooms.

It allows the use of a desktop or mobile client to help a user to connect to a company’s server. It can be used for private as well as group chats.

Its subscription is free for up to 5 users and goes as high as $125 per month for up to 50 users.

Redbooth (The Workplace Team Chat App)

Previously known as Teambox, Redbooth is an instant messaging app for business.

Besides offering the features of group chats, file sharing, and conference calls, it also offers features such as delegate and assigns tasks for project management.

It has a free subscription plan that allows companies with less than 10 users to run their account for free, indefinitely.

This plan offers a 2 GB file storage space and supports up to 2 workspaces.

Flowdock ( The Team inbox Chat App)
Branded as a team inbox with chat, Flowdock is available to download on mobile devices as well as desktops.

It provides group chat conversation in the form of threads and also allows for one-to-one flows. It also provides a tagging functionality to group threads together for easy filtering.

For video conferencing, it invokes its appear.in feature. It is free for up to 5 users indefinitely.

For more than 5 uses it offers a 30-day free trial plan.

Brosix ( Instant messaging Team Chat App)
Brosix is an instant messaging chat application especially been built for seamless team collaboration. It provides top priority to team’s privacy and security.

Every message that transfers through Brosix has high-level end-to-end encryption for all communication channels. No one outside the team can access the data of Brosix, all channels such as messages, text files, voice, and video calls are end-to-end encrypted.

Brosix feature-stack is fully loaded with multiple features to increase team collaboration. File transfer, screen-sharing, screen-shot, whiteboard, video and voice calls, one-on-one messaging and group encrypted chat are few among them. It ensures smooth user-experience, and always strive to serve better by updating the features based on the end-user feedback.

Quick Insights of Brosix

It’s a cross-platform application where it can be downloaded on Mac, Windows, Linux, Android, iPhone, and Web.

This application is available on the cloud. All operations from regular application upgrades, maintenance, and support are done on the cloud servers.

Network Administrator manages, configures, and monitors each user account.

Brosix makes an ideal instant messaging for all team sizes.

Telegram ( The Famous Team Chat App)
It is a cloud-based instant messenger that offers all the essential features such as group chat, one-on-one chats, and file sharing, among other features.

One of its advantages is unlike many of the other chat tools, it does not ask the user to manually set up a chat backup; it does so automatically.

Its free subscription plan supports 3 users, 10 scheduled messages, with up to 2 recurrences and a maximum of 5 minutes of time lag.

Podio (The All in one Team Chat App)

A product by Citrix, Podio is considered as a full backend management suite. It allows users to keep all their content, context, and conversations in one place.

Besides the regular chat features, it also offers integration with other products such as Google Drive, Dropbox, and Zendesk.

Its free subscription plan offers only task management, apps, and workspaces, but to enjoy the actual features of PoConclusiondio, one has to shell out around $24 a month!

Conclusion
These team chat apps can help an organization to maintain great teams by providing seamless interaction regardless of geographic boundaries and time zones. They help in enhancing productivity, economize on the costs of communication as well as drastically reduce time to accomplish projects.

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