Finance Archives -

Online Payday Lenders

by Bharat Vashistha on March 6, 2020

The main things you need to know about online payday lenders

The interest rates on payday loans are often quite high but it is important to know that you should always compare them with your credit card’s interest rate. Also, make sure that you get a good interest rate because it will save you a lot of money.

How do payday loans work?

Payday lenders like to get money from you via their loans. You pay the loan by cash or debit card, usually you can get a loan up to three months at a time, but you can pay as little as one day for the loan.

When you apply for the loan, you will usually be asked to pay an upfront deposit of the money in advance. The amount of the loan, in most cases, is usually in pounds sterling. You can get a payday loan at any bank branch or online service, but the most popular online service that allows you to pay your loans by bank card is EasyPay.

Frequently asked questions

1. What kind of fees does the Online Payday Lender charges?

The Online payday lender charges some fees like the interest rate, fee and the withdrawal fee. The interest rate for the loan is very variable and you should be able to read a table with the interest rates for each online payday lender to know their fees.

2. What are the benefits of an Online Payday Lender?

Online payday lenders provide more flexibility in your ability to pay your bills online. They have more options to pay your bill online and they are more convenient to use. You can even use them on your mobile phone if your phone offers an internet access feature.

Let us get down to the hard truth

The Best Online Payday Loan: Payday Cash

Payday Cash is an online payday loan website, which helps borrowers who want to get loans from their lenders. It’s not just a payday loan website. It’s also a platform for the borrowers to apply to payday loan agencies that are available in their city or state. It’s just a platform, but it’s a good one. There are more than 600 online payday lenders in the world, and they provide a great service, with the cheapest interest rates among them.

Payday Cash provides the best service to the online payday lenders. You can get a loan through their platform, from a financial institution in your own country. You have the choice of the following types of online payday loans: Payday Loans of all types – You can apply for payday loans with all types of loans. If you want to make a short term loan, this is the easiest way to get one.

Further information

Payday lenders are often portrayed as greedy and unscrupulous people who prey on poor people. However, these are not true people. As a small business owner who has always been a part of the world of business, I have been dealing with these payday lenders for the last 12 years. I know exactly how these guys work, how much they have to offer and how they go about their business.

The best payday lenders are really not greedy or unscrupulous at all. They are honest people who are willing to take your money with no strings attached. The truth is they all make money from the interest they charge the borrower. In fact, many of these lenders even allow the borrower to choose the interest rate that they charge.

The interest rate they charge is set by their own rules. So, when you decide to pay your payday loan online, you know the right interest rate is set for you. Here’s the list of payday lenders you’ll find in the list below. The list of Online payday lenders are different depending on which country you’re in.

Something one must learn about Online Payday Lenders

1. Online Payday Lenders Offer a Discount Of Up To 85% And If you are not a financial expert yet, you can use a coupon and save up to 85%.

2. They are not illegal, but you have to pay the interest charges upfront and they will only let you use your loan until the interest is paid back. This is different from most payday loans that you can borrow from your bank or a friend. So, I would highly recommend you to use a credit card for online payday loans because you will pay the interest only once and it’s cheaper.

3. The interest rate on payday loans is high, especially on a weekly loan, because the lender does not give you the opportunity to pay the interest back.

4. Most online payday loans will give you interest that is a higher than 6%. In the above cases, the lender is not going to make the interest of a week.

5. Some payday loan lenders offer the advantage of cash back if you use their online service.

6. Payday loan providers will not disclose the amount of the loan to you.

What everyone has to know about Online Payday Lenders

Do the research before you make a decision. Don’t just pick a payday loan because it looks like the best thing out there, but do your research to know how the service works and if the loan is suitable for you.

Do take the time to make a review before you sign up, and make sure you do it right. Read the website and understand everything you are getting yourself into. If you can’t afford to pay the loan back, you should at least pay it back as fast as possible.

Never ever get a loan for a month in advance. This may seem obvious, but the more you delay getting a loan, the more likely you are to end up in a mess.

Finance

How To Get Instant Loans: A Brief Overview

by Caroline johansson on March 5, 2020

Instant Loans, I am sure by the name itself you can very well understand what I am talking about it is the payday loans or the cash loans which is most easily available to those who are in immediate need of cash and has a regular source of income to make them competent enough to be eligible for the loans.

It is the primary aid in case of shortfall of cash; hence it provides liquidity in the market. If you are suffering from any cash shortfall, it is the best-suited option for you. Herein, borrowing money is a good solution to fill in the need of your money and you will be free from the worry of late payment of bills, or bounced checks, etc. One can overlook the drawbacks, as long as it can pay the installments of the loan. It is even helpful in the case of overcoming. When you need to obtain emergency funds for unexpected expenses or pending bills, it is preferable to avail the cash loans.

The instant loans come with a handful of advantages out of which some have been listed below;

· These loans are often granted based on the salary or the income of the employee, and to your surprise, the same is not required to be approved by the employer. Hence when employees are willing to take the loan, no consent of the employer is required.

· No relevance is given to the debt status of the borrower; all the lender wants to inquire is about the current status.

· The repayment is flexible due to the technical advancements and digital trends, and can also be linked to your salary account or the business account wherein the amount is being debited at the pre-decided date.

Basis of granting loans

· The amount of loan is being decided by the lender, according to the business or the salary of the borrower.

· The loan can be insured both by the borrower and the lender; however the same has to be decided by them. It is according to their wish, the loan should be insured or not.

Documents required for applying for an instant cash loan

A copy of id card of the borrower which may be in the form of passport or license etc.
TAN Number.
Completed application form, which is being provided by the lender, and the borrower is required to fill in all the particulars containing the correct details and has to self attest the same taking the responsibility of putting in the right facts in the form.

Alternatives to the Instant Cash Loans

There are various other options from where you can get personal loans such as the YeLo app. You can get instant loans approved using the YeLo app which is available on mobile devices. The YeLo App Walkthrough is provided on the Recharge channel on YouTube where Govind explains the YeLo app and guides that how to get your loans approved through YeLo App.

Business Finance

What is the GST Registration Process and What are It’s Requirements?

by admin on March 4, 2020

India in 2017 made a major indirect tax change, as goods and services tax was introduced. It subsumed almost every other indirect tax out there (except a few). It has since then brought many bigger taxation changes and the processes have changed a lot as well. one of the biggest benefits scored out of this new tax is removing the cascade effect of taxation on the goods and services provided. Also, GST has embraced digital use, as everything related to it is completed online through GST portals. Many steps are included for a business owner bog or small, and the first step is theGST registration process.

GST registration

GST registration is a step that is compulsory for all those business owners who have a turnover of 40 lakhs (2019 April onwards)or more. In hills states the minimum limit is of 10 lakhs. If the business turnover is 40 lakhs or above then it is counted as a taxable entity and thus requires registration.

As mentioned above, registration for GST is compulsory for business owners. If one fails to do so and continues doing business then it is seen as a tax offense. For those stricter actions are taken and the business is also heavily penalized.

All those needs to get themselves registered for the GST are listed below:

Resident/ non-resident taxable person
Businesses with 40 lakhs or more as turnover
Those who are taxed previously under excise, service taxes and VAT
Input service distributor and agents of supplier
E-commerce aggregator supplier
Taxable people under reverse charge mechanism
Those who supply database retrieval and access services and online information

Requirements

As GST registration is a governmental process, there is a certain list of documents that are mandatory and need to be uploaded during the procedure. The compulsory documents for registration are:

Aadhaar card
PAN card
Address proof of business
Business registration proof/ incorporation certificate
Promoters or directors photographs along with identity and address proof
Canceled cheque or bank account statement
Letter of authorization
Digital signature

The entire GST registration process has many steps and takes some time. one should keep the documents and their scanned soft copy ready, as they are to be uploaded at varied stages of registration.

If one does not register for the GST, they are tagged as tax evaders and will be penalized. the penalty of tax evasions and making genuine errors in the form of short payments is 10% of the pending tax amount. The minimum value of the penalty is fixed at 10,000 INR.

Process of registration

The process that one needs to follow for online registration for GST are:

Visit the GST portal and click on the register menu of taxpayers (normal).
Part A
Then click on new registration and click on (I am a taxpayer).
Choose the district and state from the drop-down menu.
Now enter the business’s name and PAN number.
Then entire the mobile number and emails for receiving OTPs and finally click on proceed.
Now check the email address and mobile number for OTP and then enter them in the given box and click on proceed.
After this, your mobile number and the Email id will receive a TRN number which should be noted down.
After this go to the GST portal, choose the TRN ( temporary reference number) option and enter the code and the captcha. And click on proceed.
After this again an OTP will be sent which needs to enter. Click on proceed.
After this, the application status will be mentioned in the drafts. Click on the edit option.
Part B (fill in various details and submit documents)
Photos
Business address proof
Taxpayer constitution
Bank account details
Authorization form
Now got to the verification page and click on the declaration and submit the form. Submission can be done through:
EVC (OTP on mobile number)
DSC for companies
E-sign (OTP on aadhaar mobile number)
After successful submission, A reference number or ARN will be sent to registered number and email.

One can use the ARN nimber to check the application status on the GST portal itself.

Business Finance

Leading Multinational companies in India

by sawon saha on January 28, 2020

Many top-notch and prestigious multinational companies reside in India. India is one of the most competitive nations across the world and aims to attract a few of the most leading multinational companies. Along with being potentially fit for attracting popular organizations, India has an impressive workforce. Hence, the capable and upcoming citizens of India are a boon to our country today. Multinational corporations have undeniably had an influential impact on the Indian economy. Multinational companies are thus playing a crucial role in promoting maximum efficiency of resources, enhancing the technology, enhancing the Indian economy, and decreasing unemployment. With that said, here are the top 10 multinational corporations in India.

1. Microsoft:
Founded by Bill Gates, Microsoft is one of the leading multinational companies in the world today. The headquarters of Microsoft is situated in Washington. This company has a value of 750.6 billion dollars and continues to lead its way to the top. The company is popularly known for its operating systems, Internet Explorer, software products, and edge-web browsers.

2. Coca-cola:
Founded by John Stith Pemberton, Coca-Cola is one of the maximally consumed non-alcoholic drinks. Coca-Cola provides a wide range of soft beverages such as Sprite, Limca, Thus-up, Georgia Tea, Minute-maid juice, etc. this company was established in 1886. The headquarters of Coca-Cola is situated in Kolkata, India.

3. Nestle:
Henri Nestle founded nestle in the year 1912. This leading company has a global presence and is known explicitly for its transnational beverages and goods. Few of the most popular Indian Nestle products include KitKat, Maggie, Bar One, and Milkmaid. The headquarters of Nestle is situated in Vevey, Switzerland.

4. Apple Inc:
Founded by none other than Steve Jobs, Apple is one of the most widely known companies in the world. Along with having a value of about 926.9 billion dollars, this company has set a high mark in the business industry. Few of their products are iPad, iPhone, AirPods, AppleWatch, and MacBook.

5. International Business Machines Corporation:
IBM is yet another brilliant I.T. company that has a global presence. This company was founded by Charles Ranlett Flint in the year 1992 and had a value of about 132.3 billion dollars. The headquarters of IBM is situated in Bangalore, India. This company specializes in business consultancy, computer hardware, storage solutions, etc.

6. Sony Corporation:
Akio Morita and Masaru Ibuka founded Sony Corporation in the year 1994. This Japanese company has grown as a pioneer in the electronics and entertainment industry. Thus, this company, in a nutshell, aims to design a few of the most innovative and insightful entertainment units.

7. TATA Group:
TATA group is an established company founded by Jamsetji Tata in the year 1868. TATA Group consists of about 100 countries operating independently under a network of services like TATA Global beverages, Tata Teleservices, Tata Chemicals, Tata Steel, Tata Communications, and Tata consultancy services.

8. Google:
Google is a popularly known company founded by Larry Page and Sergey Brin in the year 1998. This American-based company provides a network of services like Google Sheets, Google docs, cloud storage, social networks platforms, Google slides, etc.

9. Infosys:
Infosys is one of the prominent companies in India. This company was founded by N.R. Narayana Murty and established in the year 1981. This multinational company has offices in Middle East Asia, USA, Europe, China, and Japan. The headquarters of Infosys is situated in Bangalore, India. This company has a net worth of 10.93 billion.

10. Aditya Birla Group:
Aditya Birla Group is another leading company founded by Shet Shiv Narayan Birla in the year 1857. This multinational conglomerate has hired about 120,000 employees worldwide and has offices in nearly 35 countries. The headquarters of Aditya Birla Group is situated in Mumbai, Delhi.

About Tofler:
Tofler is a leading market research-based website that aims to provide its customers with deep insights for making informed decisions. This company aims to provide detailed descriptions based on your business to help you save your money and time. The chief purpose of Tofler is to make your life a bit easier and to help in expanding your business potentially.

Finance

Life Insurance for Children

by admin on May 14, 2019

Should you purchase life insurance for your children? Well, it’s a tricky question because typically life insurance is to protect investments and those making a salary. Your children are probably doing neither at this time. Whole life insurance protection can be a good option if you understand it.

People typically give their kids life insurance to lock in premiums, cover funeral expenses for the tragedy of an early death and allow for parents to build up a savings stockpile for college. Whole life insurance gives out a death benefit, or parents can add in a child rider.

Child Rider in the Sky

Child riders can be added to your own life insurance, and it provides another death benefit. Plus, for many people, the cash value can build up over time as long as you pay the premiums. The premiums don’t increase as the benefits do, so you’ll be paying the same price no matter what. Plus, the coverage can double the year that your child becomes an adult. In addition, when your child becomes an adult and starts his or her own journey on the life insurance track, they often get the option to continue paying the child premium with their adult life insurance. This ensures that your child will be able to afford and qualify for life insurance.

Protecting Against Problems

If your child wants to get adult life insurance, then they can turn in the child policy and get the insurance’s cash value. Plus, parents can borrow against it as long as they keep up the premium payments. Sometimes having that financial buffer will make all the difference with the unpredictability of life right around the corner.

Having a Whole Life Insurance For Child policy also protects them from potentially being disqualified from other problems later in life. Once they have some form of insurance, they have the ability to get insurance, no matter what happens to them as an adult.

Don’t Sacrifice You For Your Child

Now, while giving life insurance to your kids is okay and has a lot of great pros, be sure not to forget about yourself. You as an adult are far more likely to have problems that require you to use a life insurance plan, and you need to make sure that you are ready. Only once your life insurance is taken care off, should you consider buying some for your kids. Then everyone can reap the benefits together.

Finance

Medical Bill Income Tax Exemption and Steps to Claim It

by Bharat Vashistha on January 28, 2019

In the recent past, the number of health issues and their treatment costs has gone up by leaps and bounds all across. The main culprit for this includes poor lifestyle choices and changing food habits. As per a leading report, Indians pay around 78% of their medical costs out of their own pockets.

As a result, many companies in India pay their employees the medical allowance to cover up the costs. It is an allowance which is a fixed amount paid by some companies to employees on a monthly basis.

However, when it comes to saving some income tax, the medical allowance can’t be claimed as a cut from the taxable income. Medical allowance needs to be entirely taxable under the head ‘income from other sources’ in such cases.

For anyone who does not know how to calculate tax on income can take the help of the income tax calculator. It is an online tool that can help you know the taxable income at the click of a button. The income tax calculator is generally made available free of cost at many finance websites and apps.

Reimbursement of medical bills by the company

The Income Tax Act allows a series of deductions and exemptions. One of these exemptions is related to medical bills and similar costs incurred during the fiscal year.

All these costs/expenses include those incurred for self and family members/dependents treatments. The medical expenses’ reimbursement to salaried class employees by employers are not taken under the umbrella of the taxes.

However, to claim this exemption, the following conditions need to be fulfilled such as:

The medical expenses incurred on self, spouse, dependent parents, siblings and children can only be claimed for exemption
You can also relate these medical expenses with medicines brought from pharmacies or medical shops. It also includes treatments of a disease undertaken at a clinic, private and public hospital.
You need to submit these discussed medical bills only with your employer. You should always note that you can’t claim any reimbursement at the time of filing the Income Tax Return (ITR)
When it comes to claiming the income tax deduction for medical expenses in a year, there is a limit that you need to adhere to. You can claim tax exemption in lieu of medical bills along with transport allowances up to a deduction of Rs.40,000 per year.
For the financial year 2018-19, a standard deduction of up to Rs.40,000 has been proposed for pensioners and salaried professionals. The amount is in lieu of travel, medical costs reimbursement and any other proposed allowances.
A salaried employee working for a company either is eligible to receive a fixed medical allowance or is entitled a reimbursement by the company.

How to claim the benefits?

The only condition for claiming the deduction is to provide the certificate of the diseases that you or any other eligible members may suffer from. You can obtain the same from a specialist medical officer. He/she should be practicing at a private or public hospital from where you availed the medical services.

The medical specialist should also possess a degree in which he claims to have the specializations. The Medical Council of India must approve the degree.

However, the medical expenses’ deduction can’t be claimed if an insurance company does your reimbursement.

However, if the reimbursement done by the insurance agency is lower than the actual costs, you can claim a tax deduction for the remaining amount.

If you are a salaried employee and wish to claim income tax deductions, you are now aware of what you can claim and how. If you are still unsure, you can contact a known income tax expert to help you out. All the best!

Finance

Documents Required for GST registration in India

by admin on December 5, 2018

Goods and Services Tax is abbreviated as GST, a tax which is levied on most goods and services. The GST is paid by consumers, but it is sent to the government by selling goods by the business holders. There are 5 different rates such as 0%, 3%, 5%, 12%, 18%, 28% for Goods and Services Tax which are differentiated as per the type of goods and services.

As per the GST law, it is necessary for every taxpayer whose annual turnover is above 20 lakhs (10 lakhs for Northern Eastern states) have to register themselves under GST.

In this article let us have a glimpse at the requirement and GST registration documents.

List of Documents Required For GST Registration

Proprietorship

PAN card of the owner
Aadhar Card
Bank details
Address proof

Private limited

PAN card
Aadhar card of the directors
Bank details
Address proof
MOA and AOA
Company incorporation

Partnership/ Limited Liability Partnership

PAN card
Aadhar Card
Bank details
Address proof
Partnership deed/ LLP certificate

Let us have a brief look at the required documents and the purpose of their requirement.

PAN Card

PAN (Permanent Account Number) is required for every taxable person. GST registration is linked with PAN card number, therefore it is necessary to have a PAN card while applying for GST registration.

Aadhar Card

As per the government, it is necessary to provide Aadhar Card details while every registration. The Income Tax return can be filed on when the Aadhar Card and PAN Card is linked. Nowadays, Aadhar Card should be available with every individual and also works as the Identity proof of an individual.

Bank Account

The details of the bank will be required while registering under GST, The details such as the front page of the passbook (Account number detail, IFSC code), One canceled cheque.

Identity proof

The identity proof such as PAN, Aadhar Card, Passport, Voter ID, Driving license can be submitted while applying for GST registration.

Address proof (Individual residential proof)

Address proof such as Driving license, Electricity bill, Passport, PAN Card, Voters Identity number can be used as address proof while registering for GST.

Address proof (Office)

Address proof such as the certificate of the company incorporation, Electricity bill, Rent agreement(If the property is rented) can be provided as Address proof while registering GST.

Digital signature certificate (DSC)

While applying for GST registration online you need to provide DSC as the process cannot be carry forwarded without the proprietor’s permission.

MOA / AOA

MOA is nothing but Memorandum of Association and AOA is Article of Association. MOA includes every data which is required for company incorporation; AOA contains every rules and regulation for the company. These two documents are required while applying for GST registration.

These above mentioned are the basic requirements for registering GST. Make sure you register your business under GST as soon as possible if you fall in those criteria.

Finance

The True Extent of the South African Loan Shark Problem

by Bharat Vashistha on November 18, 2018

Loan sharks, or so-called ‘mashonisas’, have long been a problem in South Africa, offering unregulated loans with high interest rates to those who are unable to access credit by regular means. Now a new report by online loans provider Wonga has looked more closely into the extent of the loan shark problem and the issues they are causing.

The Wonga Informal Lending Report has revealed that non-registered credit lenders are more of a widespread problem than previously thought. It found that there could be as many as 40,000 loan sharks operating in South Africa, which is approximately 1 for every 100 households in informal settlements.

The report found that the average loan was for relatively small amounts of between R500 and R1,000, while the most someone could typically borrow was around R5,000. The interest charged on the loans ranged from 30-50 percent.

The credit problem in South Africa

While mashonisas clearly present a problem, it is the misuse of credit in South Africa that is a real cause for concern in the wider economy. The number of credit users in the country has grown by 12 percent since 2008, up from 57 percent to 69 percent, with a proportion of that credit completely unsustainable.

During 2017, household indebtedness as a share of disposable income, which is seen as a metric of financial stress, continued the downward trajectory it has been on since 2007. One of the enduring problems is the value of long overdue credit and store cards debts, with the value of debt in deep arrears (over 120 days) now heading towards the R18 billion mark.

The growing reliance on loan sharks is exacerbating this credit problem by giving South African communities access to credit from unregulated sources that many are simply unable to repay.

Mashonisas are not always ‘big scary men’

While the reliance on unregulated loan sharks is clearly indicative of a wider problem, the report did highlight that South African loan sharks are not always as destructive an influence as some might think. In fact, they are often valued members of the community from all walks of life who simply have a surplus of cash available and see lending as a viable form of employment.

With financial literacy levels typically low in South African communities, it seems many people prefer to borrow from unregulated rather than regulated lenders as they find the service they provide easier to access and more convenient. Mashonisas also offer much more simplistic pricing structures, with no admin fees or hidden charges and interest rates that remain constant regardless of the loan amount or term.

Intimidation and shame can be used

While that might paint a rosy picture of the way loan sharks work, the report also shed some light on the less savoury behaviours associated with unregulated lenders. For example, lenders will often roll over loans and add a new charge of interest, take IDs and bank cards as security and seize assets if repayments cannot be made. Intimidation and shame are also commonly used to ensure loan repayments are made.

However, despite the drawbacks, Brett van Aswegen, CEO of Wonga SA, said: “It would be naïve to think that mashonisas can be regulated like the formal market. The sheer scale of mashonisas would make this virtually impossible and I don’t believe customers would want mashonisas threatened as they depend on them on a monthly basis to get by”.

With that said, potentially there could be some way the formal and informal lenders could come together to make sure the demand for quick, short-term loans is met but in a safer and cheaper way.

Business Finance

Impact of a POS System on Your Business

by Bharat Vashistha on November 16, 2018

A point of sale system offers many benefits to business owners compared to the traditional cash registers. If your business establishment currently uses a credit card terminal and an Electronic Cash Register system, it would be wise to consider upgrading your system to the more efficient Point of Sale system. POS systems are cost effective and easier to operate; by using this system, you are guaranteed to see drastic changes in all areas of your business. Below are a few advantages that Point of Sale systems have over cash registers.

It increases efficiency

By empowering your cashiers with the right tools of work, you increase the efficiency of your business operations. It is impossible for your employees to increase their output if they are not afforded the right tools of work. A point of sale system and a bar code will greatly help decrease the time taken to clear customers.

It is easy to use

Analog technology continues to fall behind further. Using a touchscreen has become a common thing to everyone. The system has an intuitive interface that makes it easy for your staff to learn and use. It takes a very short time to train people on how to use the POS cloud software. Consequently, the productivity of your employees will go up drastically.

The system widens the customers payment capabilities

One of the major benefits of using a point of sale system is its ability to expand your clientele’s payment capabilities. It makes financial transactions in your business more convenient and efficient. The system supports many payment options; this, in turn, boosts customer satisfaction, and it also increases revenue for your establishment.

It improves the accuracy of your staff

The system’s easy to use touchscreen interface enables your staff and associates to access all information they need readily. With this system, your employees do not need to key in the prices of items manually. This is one of the things that make a POS system outstanding. The technology enhances accuracy in your business operation and minimizes human error. This is due to the fact that you do not need to, always, upload data into your back-office systems.

It helps in the management of inventory

This technology differs from the cash register system because it utilizes advanced capabilities of managing inventory. A point of sale system saves you time since you will not need to do inventory management on a weekly basis. Additionally, it gives you real-time data on your inventory. This is something that cannot be done even by the best cash registers.

It helps you manage your employees

A point of sale software will greatly reduce the amount of time you spend making schedules and enforcing them. The POS technology comes with time clock functionality. This means that your staff can clock in and out on the POS system. It allows you as a business owner or manager to have access control; this ensures that the identity of your employees is verified at all times. It also helps reduce the possibility of theft from your employees.

It simplifies accounting

This technology will play a pivotal role in streamlining the accounting processes of your business. Initially, cash register systems forced accountants to go through large numbers of receipts in order to verify accounts. With the POS technology, however, you can print receipts and reports at any time. This information can also be easily transferred to your accounting software.

Finance

WHY DO MOST TRADERS CHOOSE EXNESS FOREX BROKER? – EXNESS QUICK REVIEW 2018

by admin on November 12, 2018

It can’t be denied that Exness is one of the biggest brokers and best ECN brokers by now. It has the great withdrawal system, excellent support team with reasonable cost of transactions. This article will be bringing an overall quick Exness reviews for those traders who are now considering to work with one of the top 10 forex brokers.

KINDS OF ACCOUNT AT EXNESS

Like many biggest brokers in the market, Exness forex broker also has some different types of account for traders, which are Cent, Mini, Classic, and ECN. Each type is created for certain kind of traders or you could choose your own kind based on your trading plan or strategies. For example, Mini and Cent account require only $1 minimum deposit and then, they allow us to check and test our trading plans or have more experience, knowledge about forex market. Therefore, they are mostly for beginners or new traders. In contrast, ECN account of Exness which is like that of other best ECN brokers is mostly for experts because of its special conditions.

WITHDRAWING IN EXNESS

It could be said that the withdrawal system of Exness is the best in the best forex brokers 2018. Withdrawing fund or transferring money at Exness is really fast and instant. It only takes a moment to finish a transaction while it could take up to hours or days to do the same tasks in other brokers. You may ask how a broker on the top 10 forex brokers in the world could execute the withdrawal system accurately, automatically with enormous amount. The answer is using machines to do the job instead of human. Exness is one of the biggest brokers to take advantage of machines to enhance the productivity and efficiency for the system. The withdrawal speed is even the fastest in the market that it attracts more and more traders.

THE SUPPORT TEAM OF EXNESS

Exness forex broker really focuses on the customer service in many countries that it has targeted. It offers supports not only in English but also in other languages such as Vietnamese, Persian, Chinese, Thai and Bahasa Malaysian. The support team even works 24/7 to help traders at local offices, which is convenient and kind. Exness is the best place for those traders who are not good at English since it brings the care in many other languages. Moreover, now Deloitte – one of the Big 4 accounting and consulting firms, is hired to audit Exness and that means you can totally have a trust in Exness.

COST OF TRANSACTION AT EXNESS

Exness charges spread as the cost of transaction, and it is said to have the lowest spread in the forex market. It now has the lowest spread of the top 6 most trading currency pairs, which might be higher at other brokers. Especially, it is very convenient for traders who trade currency pairs with fixed spread that Exness also offers the lowest fixed spread, which you cannot find at any other brokers in the market.

THE HIGH LEVERAGE OF EXNESS

Some traders said that they are not interested in the high leverage because the higher the leverage, the riskier they might face. Meanwhile, the experienced traders believes that it is safer to have the higher leverage. Exness offers the highest leverage and even up to unlimited. It means that margins don’t have to be paid and your orders are open for nothing.

In conclusion, Exness forex broker is one of the largest brokers, the best ECN brokers 2018 and the most reliable for most traders from all over the world.