Nowadays, conducting Forex deals with different crypto and fiat currencies is one of the productive ways to earn income. The key point of the process comes with buying and selling currencies (or rather, currency pairs) and takes place 100% online. The Forex market does not have physical trading platforms, and all deals are running online.
The average daily turnover of capital in the foreign exchange market is huge, amounting to trillions of US dollars. But running deals in this market on your own will not work; the trader needs an intermediary.
The DotBig Forex platform has been providing clients with trading and investing opportunities on Forex for more than 20 years. The broker has a proven reputation and you can always find out about the current state of affairs in real DotBig reviews.
Forex in Israel
Recently, Israel has demonstrated impressive economic growth in many fields. That is why it is the most developed country in the entire Middle East.
Brilliant positive dynamics are reflected not only in the development of leading industries, high-tech discoveries, and an increase in the number of successful startups. Also, the incomes of the population in Israel are constantly growing, which proves the economic advantage of this country over neighboring countries. Obviously, people’s passion for online Forex trading has not passed Israel by either. The investment sector is also of great interest to the population.
Today, many international brokers, including the DotBig platform, open accounts for Israeli citizens. As for local legislation, local Forex brokers must be licensed by the Israel Securities Authority (ISA), and the ISA is also the regulatory body responsible for overseeing operations on the stock market.
Reasons for Forex’s Popularity in Israel
Why do Israeli traders trade Forex? Because of its advantages, of course:
- Convenient schedule
The Forex market is open 24 hours a day. This means that bidders and investors can choose their working hours, rather than working in the office from 8 a.m. to 5 p.m. every day except weekends.
- Trading from anywhere
Transactions are very convenient, as they can be carried out from your own home using a regular computer connected to the Internet. Forex brokers such as DotBig exchange also provide trading platforms for tablets and smartphones.
In general, users are given complete freedom of movement. All you need is high-quality Internet.
- Test mode
Top exchanges, such as DotBig, provide free real-time quotes, software, tools, news, analysis, and more. A novice trader can open a demo account and, without any risk to his wallet, try himself as a trader or, for example, try out his strategies.
Do not neglect this opportunity. Open a demo account and trade on it, while learning and honing your skills.
- Low fees and a meager entry threshold
Another reason why Forex is so popular among Israelis is the relatively low commission fees and low entry threshold. The vast majority of Forex brokers do not charge commissions, and make their money through spreads (the difference between the purchase and sale prices of a currency), which are displayed in a special window of the trading platform.
- Leverage
Forex trading sites provide credit support or leverage to their customers. Thanks to this support beginners can run deals having only a couple hundred dollars on deposit. This is risky, of course, but from the other side, a newbie can always select a lower leverage, thereby reducing their risks.
For example, if you pick a trading leverage of 1 to 100, you get an opportunity to enter into transactions for an amount one hundred times higher than your initial deposit. With only $100 in your account, you can trade with an amount of $10,000.
In a word, the leverage allows people to earn sums much higher than those that could be expected by trading without a given broker’s margin.
How to trade Forex with DotBig
To start making Forex trades, enlist the support of a reliable DotBig broker. For this, one should enter the official DotBig website and pick the desired language in the upper-right corner of the home page.
There is a simple registration form where users type in valid personal information. After that,
DotBig’s manager contacts a new user and provides further guidance on how to log into the personal account.
In the Forex space, the DotBig company has been working for more than 20 years. The company is one of the universal brokers for dealing with various assets, such as fiat currency, stock, commodity, and crypto tokens. DotBig Forex broker operates with users from different regions and states, including Israel. Traders who have reached the age of 18 can open an account with this broker.
Personal DotBig Account Overview
The DotBig official website provides visitors with a simple and convenient trading toolkit. The personal account contains these sections:
- Profile. Personal information is managed in this tab.
- Deposit. The section displays the current account status and payment history. You can also deposit funds to your balance here.
- Withdrawals. Here you can output money from your account to a crypto wallet, card, or bank account, and the payout history is displayed.
- Referral program. The tab displays a link to invite new users and the percentage of their earnings credited to the user as a reward.
- Verification. The section provides identification of the trader’s identity using documents. In this way, DotBig checks users and prevents fraud and other illegal activities. Opening a full-fledged account is not possible without verification.
The DotBig investment home screen interface is simple and user-friendly. In the upper part, there are indicators of the client’s account status, buttons for replenishing the balance, contacting support, choosing the language, and accessing the personal account. The main field is occupied by the quotation chart of the selected asset.
DotBig Trading Services
In addition to regular asset trading, DotBig provides clients with access to automated trading services. Social trading allows you to learn from the experience of other users and copy their successful deals. Besides, the economic calendar available on the platform will help you perform detailed market research and plan trading to increase future income.
In addition to the website, one can trade in the mobile app. It is available on popular Android and iOS platforms. Mobile trading allows Israeli users to work in the financial market anywhere and at any time.
Favorable Factors for Earning on Forex
For earnings on the Forex market to be successful and large, favorable factors such as:
- Following trends.
- Periods of pullbacks that occur after sudden and volatile movements.
- The overall price increase.
- Formation and growth of public debt.
- The rise/fall of interest rates set by the Central Bank.
- Economic crises in specific countries worldwide.
It is crucial for Israeli traders to constantly monitor the news in the world and view price movement charts in the trading instruments used. According to DotBig reviews, this will help to identify problems with national currencies, which open up income opportunities for every Forex trader.
Also, by monitoring the entire financial case, it is possible to detect economic crises at any level and find the best solution for yourself.