CFDs are financial products made to mirror the price movements of popularly traded instruments like forex pairs, company shares, or commodities. 1 crude oil CFD would be equivalent to a single barrel of crude oil on the commodities market but, when you open a CFD “buy” deal on it, you are not actually buying a barrel of sticky black liquid but, rather, you’re making an agreement with your broker to settle on the price difference in crude oil from time X to time Y. Aside from saving you the trouble of storing hundreds of leaky oil barrels in your living-room, CFDs give you the power to take advantage of price drops just the same as of price surges. If you believed, for instance, oil prices were due to plummet, you’d opt for a “sell” deal rather than a “buy” deal.
The iFOREX trading app is a unified platform for trading in the price movements of hundreds of CFD instruments. This allows you to diversify your portfolio as your trading know-how grows and develops over time. However, the iFOREX app is a lot more than that. It’s designed to assist you at every turn in your business of following and identifying market trends, and of seeing opportunities when they arise so you can act on them in a timely fashion. That’s why you’ll receive on-the-mark, live updates on the rates you need to know, ready on your smartphone whenever you have a moment to glance down. And while you’re glancing, take a peek at the iFOREX economic calendar. It lists – in whichever form is most convenient for you – the announcements, meetings, and reports that are likely to impact prices in coming days.
But what about news events that trigger price jumps in your instrument? Well, for that, just open up the stream of fresh, relevant financial news that keeps coming into the app for your perusal. Suffice it to say that the iFOREX app was carefully built, like a stethoscope, to keep your ears close to the heartbeat of the markets. This way, you’ll have that edge that can make all the difference in financial trading.
Instruments
And now to give you a map of the library of instruments on the platform: Let’s start with the largest market in the world, by far – the forex market. You’ll find a list of popular and exotic forex pairs in an easy-to-find format, including well-traded partners like GBP/USD, EUR/JPY, and AUD/USD. If you have a taste for sugar, coffee, wheat or other commodities, you’ll find a generous array of these types of CFDs too. If you find reason to believe natural gas prices are going to dip, or wheat prices are about to rise, you’ll be ready to act.
As to shares, there’s definitely no shortage: Choose among big names like Airfrance, BMW, and Microsoft. And then there’s ETFs, which track baskets of assets based on specific themes, like Global Cannabis, Crude Oil Fund, or Airline Industry. Don’t forget the range of stock indices, including choices like Hong Kong 50, Germany 40, and US Tech 100. And, finally, you’ll find an enormous variety of cryptocurrencies with familiar names like Axie Infinity, Binance Coin, and Litecoin. Whatever the industry you have in mind, and whether prices are sliding down or surging up, you probably won’t have to look much further than the elegant and powerful iFOREX app.
Leverage
When the time comes to open that deal, iFOREX gives you the power to magnify its size much beyond the confines of your account balance, using a tool called leverage. Let’s say, for example, you believed the euro was going to appreciate against the US dollar but had only $500 in your account. You could use leverage of 100:1 to turn your $500 deal into a $50,000 deal. Then, if the euro were to gain 0.8% against the dollar, your gains would equal, not 0.8% of 500 ($4), but 0.8% of 50,000 ($400). Since this facility is made possible through borrowing money from the broker, it also has the power to magnify your losses when things don’t go your way, so use it advisedly.
Polish Up Your Knowledge
In moments of doubt, you’ll be able to access a range of straightforward articles and video tutorials on fundamental topics like “What is Stop Loss?” and “What is a CFD?”, but also on more advanced subjects like “What is a Momentum Indicator?” or “Elliot Wave Theory”. This way, you can brush up on the concepts or skills that are relevant for the moment with speed and efficiency. In fact, you can even consult with a real trading coach who can help take your trading to the next level.
Summing Up
To find out more about iFOREX and their unique trading app, take a trip to the iFOREX website and do some more reading. Take notice of the customer reviews because these give you real insight into the customer experience on offer. And, before diving in, try out the app with a free demo account to see how it feels to trade with it in real time.
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