What is Ripple and Where to buy it?

Are you looking for the best exchange in India to buy Ripple (XRP)? Then, you have landed at the right place. By using this guide, you can easily buy ripple with INR on Koinbazar. Before we get into this, let’s see an overview of Ripple.

Koinbazar has recently launched the cryptocurrency exchange mobile app for both Android and iOS platforms. With this app, you can buy, sell, and trade your favorite cryptocurrencies instantly. Traders who download and sign in to the app will get FREE 10,000 SHIBA INU tokens instantly gets deposited into your koinbazar account.

What is Ripple (XRP)?

Ripple Labs is an open-source protocol for the development of the Ripple Protocol, including the XRP Leader and RippleNet, a series of payment technologies targeted at institutional use (banks, non-financial institutions, and digital currency exchanges).

Originally called OpenCoin, the business we know today was branded in 2015 as Ripple.

Created in 2012, Ripple Labs is a private corporation, located in San Francisco, California. So you can’t buy anywhere from your shop.

It should be noted that investing in XRP does not mean investing in Ripple Labs, but in the software, they have made.

Ripple Labs now hires more than 500 persons, has nine offices worldwide and (on average) reports an increase of 300 percent year-over-year.

Ripple also sells an XRP app package named RippleX tailored for developers and companies. The platform contains two protocols to be built independently from XRP for the interactions between XRP LEDGER and PayID and Interledger.

People also exchange Ripple and XRP, creating more chaos around the project.

XRP is a cryptocurrency that Ripple Labs, a US corporation, has made, produced, and partly controlled. XRP is one of the many Ripple Labs products that have been designed to increase cross-border payment performance, in particular in the banking sector.

It’s the native digital currency on the XRP Ledger — an open-source, permission-free and distributed directory with 3 to 5 seconds for settling transactions.

Without an intermediary, XRP can be explicitly sent as a handy tool to easily and effectively bridge two currencies. XRP’s key objective is to be a monetary trade mediator.

How do investors buy Ripple in India?

Like other major cryptocurrencies, XRP is also available on several exchanges like Koinbazar. Do you want to buy Ripple in India with INR? Then Koinbazar would be one of the best crypto exchange platforms where you can buy, sell, and exchange Ripple safe. Koinbazar offers an instant INR deposit option that helps traders to deposit funds instantly and start trading comfier.

How to buy Ripple in India from Koinbazar?

Do you want to buy XRP with INR? Follow the below-mentioned steps,

Step 1:

Visit Koinbazar.

Step 2:

If you are already a registered user, choose ‘SIGN IN’ at the top right corner of the website to log into your account. If you are a new user, click ‘SIGN UP’ in the top-right corner to register your account.

Step 3:

After you sign into the account, choose “MY ACCOUNT” at the top right corner of the page. Update the requested details to build your profile.

Step 4:

Choose KYC verification under “MY ACCOUNT”.

Step 5:

Update the KYC authentication section requested details and identity certificates should be updated and then click ‘SAVE’.

Step 6:

Choose ‘BANK DETAILS’ and update your required information. Then, click “SUBMIT”. Once the admin approved, you will be able to deposit and withdraw your funds from your Koinbazar wallet.

Step 7:

Once the admin approved your bank details, Choose “Funds” from the top right corner of the menu and select “Deposit”.

Step 8:

Choose the “Fiat” option from the deposit. Your desired funds are to be deposited in the form of fiat currency.

Step 9:

Then choose the ‘Manual Deposit’ option and update the required information and also instant INR deposit options available. Your transferred amount will be credited to your Koinbazar wallet after being reviewed by the admin.

Step 10:

Once your funds get deposited, go to the home page and select ‘TRADE’.

Step 11:

On the trading page, choose the “INR” market and select XRP/INR pair to buy Ripple instantly at the lowest fee.

Step 12:

At the bottom left of the page, start trading by setting the order type and order value you would like to buy.

Navigating the Nuances of Gold Loan Fees

Understanding Gold Loans
Gold loans are secured loans where borrowers pledge their gold jewelry or coins as collateral to obtain funds. The loan amount typically depends on the value of the gold. These loans are preferred due to their relatively low interest rates and quick processing times compared to unsecured loans. They can be used for various purposes including medical emergencies, agricultural activities, education, or even personal expenses.

Key Factors Influencing Gold Loan Rates
Several factors affect the interest rates of gold loans:

Loan to Value (LTV) Ratio: Higher LTV ratios, where a higher percentage of the gold’s value is given as the loan amount, generally attract higher interest rates.
Relationship with the Lender: Existing customers might receive more favorable rates.
Loan Amount and Tenure: Higher loan amounts can sometimes attract lower interest rates. The duration of the loan also plays a role.
Purpose of the Loan: Loans taken for agricultural purposes may have lower rates due to subsidies or government schemes.
Special Offers and Seasonal Schemes
Banks and financial institutions often run promotional offers and seasonal schemes which can significantly reduce costs. For instance, during festive seasons, lenders might offer reduced rates or waive off processing fees. It’s crucial to stay updated with current offers from various banks to capitalize on these opportunities.

Comparing Offers
When considering a gold loan, it’s advisable to compare offers from multiple lenders. Factors to consider include:

Interest rates
Processing fees
Loan tenure flexibility
Prepayment charges
Websites like DCB Bank Gold Loan provide detailed comparisons of different gold loan offers, which can be invaluable in making an informed decision.

Gold Loan Interest Rate Calculators
To estimate the cost of a gold loan, many lenders provide online calculators. These tools require inputs like the amount of loan, tenure, and expected interest rate to provide an estimated repayment schedule. Interest on gold loans can be calculated using two main methods:

Flat Rate Method: Interest is calculated on the entire principal amount throughout the tenure.
Reducing Balance Method: Interest is calculated only on the outstanding loan amount, which decreases as EMIs are paid.
Statistical Insights
According to a report by the World Gold Council, the demand for gold loans has seen an uptick as individuals seek quick liquidity solutions. The Reserve Bank of India (RBI) has also adjusted LTV ratios for gold loans to up to 90% to provide additional liquidity during financial stress periods, reflecting the growing reliance on gold as a financial asset.

Conclusion
Gold loans are a practical option for immediate financial needs, offering lower interest rates and quick disbursal. By understanding the factors that affect gold loan rates and using tools like interest rate calculators, borrowers can secure the best possible deals. Always stay informed about the latest offers and maintain a good relationship with your bank to leverage the most favorable terms.

Taxation in Debt Mutual Funds

Debt Mutual Funds significantly invest the money in fixed-income securities like government securities, debentures, corporate bonds and other money-market instruments. These products carry the low risk compared to Equity. They have low volatility and have potential to generate modest returns over time.

Tax on Debt Funds

Like other Funds, Debt Funds are also subject to capital gains tax, Short-Term Capital Gains Tax (STCG) & Long-term Capital Gains Tax (LTCG). If Debt funds are held for less than 3 years, then STCG is levied and if more than 3 years then LTCG is levied. Presently, the LTCG levied is 20% with indexation and STCG is taxed as per the investor’s tax slab. If the Investor’s Income Tax Slab is 20%, then the same will be levied on the Debt Funds gains in the case of STCG.

Indexation Benefits

Indexation is a tool that is applicable to long-term investments. It helps an investor to adjust inflation while gauging the returns of the invested amount.

As inflation is gradually rising, what’s worth Rs. 1000 could be worth Rs.1100 sooner in the near future. Thus inflation is reducing the purchasing power of our money. The same amount will be enabling the investor to buy lesser and lesser goods.

So how does indexation help us? To understand that, let us first understand what capital gains is. Capital gains are nothing but the increase in the value of an investment over a specific period of time. If a NAV of a fund was Rs. 10 when you invested and is now Rs.15 while you plan to redeem it, that difference of Rs.5 is called capital gains. So we are yielding a capital gain of Rs.5unit when we redeem.

In the case of debt funds, we arrive at long term capital gains after indexing the purchase price of the investment. When subjected to indexation, it lowers the long-term capital gains tax, which brings down your taxable income. Indexation is the reason why debt funds are looked upon as an excellent fixed-income investment option.

How does Indexation Work?

The rate used for inflation in indexation is obtained from the Government’s Cost Inflation Index (CII). The Central Government determines the values of the index and is updated on the Income Tax Departments Website. The data is available from 19981 onwards.

Let us consider the below example to understand how indexation works:

Imagine you invested Rs.1,00,000 in May 2015 in a debt fund of your choice. Today you choose to redeem your money. So you have gained Rs. 1,50,000 on your investment. Since your holding period was beyond 3 years you will not need to be required to pay tax on the entire amount of Rs.1.5 lakhs. You will need to arrive at the indexed cost by using the formula:

ICoA = Original cost of acquisition * (CII of the year of sale/CII of year of purchase)

So the indexed cost will be 1,00,000 (240/301) = 79,734.

So our Capital Gains will now be 1,50,000-79,734 = 70,266.

Using indexation, we have managed to reduce the income subjected to tax, which would be Rs. 14,053.2.

The benefit of indexation works best when your holding period is longer. For a holding period of 5 years, on average, the long-term capital gains tax on debt funds can come down efficiently. Thus indexation helps us to save tax on Long-Term Capital Gains and increases our earnings.

What Your Family Should Know About Debt Consolidation

We are a society of debtors. No matter how hard we try, it always seems like we owe more money than we make. This is especially true with families in North America. Household debt as a percentage of disposable income increased by over 170% in 2020. Part of this is due to the coronavirus. However, many families were already in debt before the pandemic took hold. Now, they are looking for a solution to right their ships. A possible way to return things to normal is a debt consolidation program. Here are some things your family should know about this form of payment option.

It Combines Debts Into One Payment
The biggest issue families have when controlling debt is to get it down to a manageable amount. With added late fees and interest, it feels like the total added to the principle is minuscule. A debt consolidation program works similarly to a standard loan for a home or car. You’re provided with an amount that closes the accounts of creditors, utilities, and other vendors. In exchange, you pay down the loan.

Firms Work To Negotiate Lower Payments
While debt consolidation firms want to help you, they also try to lower the amount of the loan provided. They do this through a similar exercise as a bankruptcy trustee. They negotiate for a lower pay-off amount. This normally works with loans from other banks, credit card companies, and debt collectors. In negotiating with these organizations, the consolidation firm minimizes its liability. Furthermore, it allows you to quickly pay down the loan.

It Is Not A Form Of Bankruptcy
A debt consolidation program is not a form of personal bankruptcy. In this practice, a trustee is brought on to negotiate with creditors on amounts owed. While bankruptcy features an amalgamation payment similar to consolidation, the effects it has on your credit are more harmful. For example, debt consolidation in Canada is in the form of a loan. Firms support these programs to help families reduce their debt difficulties.

Payment Plans Are Flexible
Though you still make monthly installments on a debt consolidation loan, the time it takes to close it out is flexible. Firms work with you to establish a reasonable payment amount and the months or years you feel it takes to finish things up. There’s a caveat to this. The greater the loan’s length the more interest your family ends up paying. Granted, the value applied to the principal increases over time. However, it’s more incremental for a 60-month loan than for a two-year plan.

It Doesn’t Cover All Debt
Most unsecured debts can be included in a consolidation program. This is in the form of credit cards, mortgages, or auto loans. Yet, some things can’t be added to a debt consolidation program. For example, student loans. Though these are unsecured they tend to be held by a government entity. Thus, consolidation takes place within that institution. Unpaid taxes are also not permitted for inclusion in a debt consolidation program.

Not all Debt Consolidation Programs are the Same
Most debt consolidators want to help you get past the burden of owning money. Hence, they work to get the best value for a program. Nevertheless, not every firm is so giving. Though they say your payments are considerably less than the total of your individual transactions, that statement might only refer to the principal. The exorbitant fees and interest rates they apply make your monthly installments even higher. This is why you must perform a thorough investigation of debt consolidation organizations before a contract signing.

Debt Consolidation is One Step Toward Financial Freedom
Here’s the most important thing to know about debt consolidation programs. They only work well if coordinated with other steps toward financial freedom. To put it another way, you remain in debt if your family continues the same practices.

Conclusion
So, as you pay down your consolidation loan you must learn how to work well with money. This means reducing your expenses, creating a budget, and eliminating the use of credit cards. These changes help get out of the financial basement and into a world of financial security. In the end, don’t let the positives of a debt consolidation program falter.

Smart Hacks to Prepare for Your IIT Exam 2022

Exam preparation is really a cumbersome task. One needs to be patient and properly understand how IIT Preparations can be at the times. It would be better if you will prepare through Best IIT Coaching in Delhi, which will provide you complete study material for your exam preparation. The highly experienced faculty will guide you through all the exam related doubts and stress. The tricks and methodologies to crack the exam will also help you in all matters. We are providing you with some important exam tips, which will help you in getting a good score.

So here are those definitive variables
1. You

Preparations start with you. First ensure that you have persuaded yourself to commit a little while and afterward put it all on the line. It is a long distance race, not a run. In this way, you really should deal with your physical and psychological wellness.

Take good food, do some meditation/yoga (even with 10 minutes every day, I felt the distinction in my routine and energy level – it helps!) and take legitimate rest.

Make a plan and spend at minimum a predefined hour on each subject (material science, science or maths) every day or week after week.

Recall there’s no need to focus on the quantity of hours you spend; it is about the number of useful hours in the correct course.

2. Syllabus

Indeed! The schedule is immense yet it is feasible.

Also, indeed, for come by great outcome you want to cover its greater part! There is less possibility that you will clear the exam assuming you are master at just couple of points. In this way, the key is to get your assets and shortcomings and invest energy carefully.

Classify the subjects in light of your strong points and shortcomings; invest moderately more energy on your more vulnerable points.

How could I work on my shortcomings? – I observed specific subjects very exhausting, a few parts took longer than others to try and get an essential agreement. However, i never left them! I continued to peruse them over and over till I got the idea. Common folks it is hard yet individuals can get it, on the off chance that you can’t comprehend it in a single shot, read it once more, ask specialists for help and rehash it. You will get it!

Attempt to get the subjects/ideas instead of recalling that them (What are you perusing? Where is it relevant? What is the essential funda behind it?). I concur once in a while you really want to recall a few compound recipes, conditions however the greater part of the times you ought to have the option to get the idea.

You really want to deal with two rates too. Right off the bats the amounts of all out prospectus have you covered and furthermore what is your ability level of your good to go themes? As indicated by me both % ought to be more prominent than 80, the more noteworthy the better. The most effective way to investigate this rate is by stepping through great exam series whenever you are finished with your preparation. Work on working on your rate.

I have committed this error and it cost me long term. During my first endeavor, I thought of scoring just cut off marks in Physics and scoring higher in rest of the subjects. With this methodology, I was unable to clear JEE that year

Misjudge no singular subject and do a decent preparation. Any subject can get you a position in light of the trouble level of the paper. There is no edge botches like the one I made.

3. Competition

This is less significant. I’m composing this since I was apprehensive at first of lakhs of up-and-comer showing up for the exam (some were from better instructing organizations, better schools, better urban communities, better IQ levels, seniors, clinchers….it was terrifying!). However at that point I understood that by agonizing over others I am simply losing concentration and rest. At the point when I think back, that guarantee of not being annoyed by others was the best choice I each took during the preparation.

The genuine competition for you is yourself!
You really want to have faith in yourself, be consistent with yourself (about your solidarity and shortcoming) and dissect your preparation. You are your best appointed authority.

On the off chance that your preparation is sufficient and you are consistent with yourself, you should break it! Take admission in IIT Jee Advanced coaching in Delhi for your exam guidance.

Finally, recollect IIT JEE is neither the beginning nor the end. There are a great deal beneficial things in life already in the works to you regardless of whether you were unable to clear JEE. So offer your most obvious opportunity yet regardless of whether you come by the best outcome, don’t surrender. Your preparation will pay you here and there. It certainly makes you more grounded.

Accounting Services for Self-Employed Individuals

Accounting services for self-employed are becoming increasingly popular in the UK. The number of businesses who are now setting up an independent or small company is on the rise. This is partly due to the fact that tax laws have been changed and the laws now state that any income earned by a company is taxable under UK tax laws. This has led many new start-ups to choose to set up their own company as they don’t want to be tied into any tax schemes set out by the authorities.

Self-Employed Firms
There are many accounting services for self-employed firms available in London. Many accountants have a firm set up in London so that they can take on new clients. Many firms have multiple locations in London, meaning that they can cater for all the needs of their clients. You may need a tax advisor in London, if you have earned a huge amount of money from your business.

Tax Advisor
A tax advisor will help you to ensure that you pay the right amount of tax. This is a service that you shouldn’t just take on board when it comes to hiring an accountant. This is a very specialist area and one that only highly experienced professionals should engage in. You need to ask plenty of questions about the accountant’s background and experience. You also need to ask how much experience they have with these types of services and what professional associations they are linked to.

Self-Employed Professionals
It is possible to get accounting services for self-employed professionals for just a few pounds. However, many accountants will charge higher rates for their services. If you want to be sure that you get an accountant who is reliable and experienced, then you might want to consider paying a bit more to make sure that the person managing your accounts is someone you trust.

You can also get accounting services for self-employed professionals at a lower rate than that of a regular accountant. This is because there are some tax advisors who offer their services for cheaper prices than others. The reason for this is because they are more likely to deal with less complicated tax situations. In general, it costs the accountant less money to provide their services because they do not have to buy office furniture or pay for expensive staff. You can usually get a better deal if you go with a tax advisor who is also an accountant.

Accounting Services For Self-Employed Individuals
When you are looking into accounting services for self-employed individuals, it pays to ask about what services are offered for a fee and how much they will cost overall. You also need to find out how long it will take for the advisor to settle any tax bills that you owe. Most self-employed people will not have their taxes settled right away, but many tax advisors will offer a settlement within a few weeks of your tax filing date. There may also be ways to get a refund back from the IRS if you owe them money. However, you should understand that these refunds will generally have a lower amount than the total amount of money you owe.

Finding Accounting Service
Finding accounting services for self-employed individuals can often be easier than you think. If you have any questions, you can call the local office of the CPA or tax professional that you have used in the past. They will be able to tell you what you can expect, what you can look forward to, and what the IRS requires from you. By talking to them, you will be able to get an idea of what to expect from the experience.

The accounting world can often be quite confusing for those who are just getting started. However, if you take the time to educate yourself and talk to the professionals that are available, it can make a big difference. Accounting services for self-employed individuals should not be something that is overlooked. Take the time to consider what they can do for you will likely feel more comfortable with them than you did before.

How an SIP can help build your child’s higher education corpus?

Planning for your child’s higher education corpus may look quite daunting at the beginning to gather such a large amount of funds considering the increasing inflation rate. Still, it is achievable, provided you are planning early and start your investments with SIP i.e. systematic investment plan in a mutual fund. Plan your financial journey according to your child’s future needs to achieve your desired goals.

Hypothetical example is given below -

Ms. Varma is a single mother of a child who will graduate in 10 Years. Ms. Varma wants her son to pursue Law. Let’s assume today’s cost is Rs 3 lakh; and now we need to calculate an estimated cost for the same in next 10 years based on assumed at 6 % p.a. inflation rate. So the cost of the education in the next 10 years is Rs. 5.37 lakhs. This goal can easily be met through SIP provided a regular investment of Rs.2334 is made on a monthly basis assuming the rate of return is 12 % p.a. (Please note this is based on the SIP and inflation calculator, however, it is not a guaranteed rate of returns)

Thus, it is most essential to plan and prepare to ensure your child gets access to the best of colleges. If you plan early, you may not have to compromise on your child’s future

Below is the step-by-step guide given to plan your SIP journey that helps build your child’s aspirations

Step 1: Decide Your Time Horizon

As stated in the earlier example, time is a crucial factor to determining your goals. Estimate the number of years left for your child’s graduation. The longer the time horizon, the better it is for you to plan and invest. Start early, invest wisely.

Step 2: Estimate the Cost of Education

You need to decide whether he or she wants a global exposure for education or a nearby well-renowned institute for their child. Also, which area of education do you want your child to graduate in is another important parameter to check. Depending on such points, you should be able to figure out an estimated cost of education. While keeping this in mind, it is thus important to determine future cost of school/ college.

Step 3: Assess Your Existing Assets and Liabilities

Make a list of all your assets and liabilities to help you assess your financial health and you can choose to plan better for your child‘s future goals. In a typical case, depending on your age, income and other significant criteria, you may need to prioritize your child’s education loan over the cost of a dream car or perhaps choose to delay your retirement planning depending on assessing your expenses and income (add a full stop)

Step 4: Estimate for the Amount to Be Saved

After calculating and assessing your assets and liabilities, the next step is to estimate our savings. Depending on that, you can choose your investment corpus. Decide how much you need to save now or whether a monthly contribution is required to achieve this goal on or before time. The easier way is to put aside some money towards each goal in a systematic manner. You can either opt for the Systematic Investment Plan in mutual funds or choose any other mode of investment options. An SIP is a preferred way to manage your investments. A disciplined and a planned approach will always make your journey easy.

Step 5: Choose your investment plan

Choose judiciously and invest wisely should always be your mantra. Asset allocation strategy is a boon to your investment journey. You may need to invest your hard-earned money in different investment avenues that depend on your risk appetite that aligns with your goals. Make sure you use the diversification strategy and continue to rebalance your portfolio at timely intervals. An SIP in mutual fund helps you do just that. You can choose from various assets such as equity, debt, gold, hybrid, etc. Ensure you analyze all the risks involved before investing, for example: Market risk, changes in Government policies, financial or economic crisis, etc.

Step 6: Prepare Yourself For The Unexpected

Make sure you are prepared for the additional costs that may or may not be included in the education cost, for example – tuition fees, hostel stay, books and stationery, etc. Remember to add them while preparing the cost analysis. None the least, start your investments today, Don’t delay. The earlier, the better.

Thus, with proper planning you are able to envision your child’s education expenses and help him or her achieve their dreams.

What mistakes should investors avoid when evaluating mutual fund returns?

Every investor, at some point in time, makes a mistake while evaluating investment decisions. There are five valuable lessons learned in the investing arena from these mistakes. Let’s understand them in detail.

Mutual Fund returns over the past year: This is the most popular form of comparing two mutual funds. Comparing mutual fund returns in India over the last year may be the starting point of assessing mutual funds. However, you should look beyond 1 year to make a realistic expectation of the mutual fund returns.
Investing without a financial goal: Your investment decision should not be based upon recommendations of friends and a good financial advisor is a must. For example, suppose you are planning to invest for your children’s education and you have 10 years, you can consider investing a diversified equity fund portfolio instead of parking your money in a debt fund or a fixed deposit. Once you have a financial goal, you can use a mutual fund return calculator that helps you to get an idea of how to calculate mutual fund returns with time.
Timing the market: Another mistake that mutual fund investors make is hasty decisions to redeem or sell their investments due to market uncertainty. Do not invest with the intention to reap short-term profits. You also need to understand that mutual fund returns are taxable. On redemption, the capital gains are taxed as per the holding period. For equity mutual funds, short-term capital gains are taxed at 15% while long-term capital gains are at 10% for gains exceeding Rs. 1 lakh. Taking a hasty decision can be detrimental to your wealth creation journey.
Mutual fund returns comparison without factoring your risk appetite: You need to assess whether, for every risk you take, you are getting commensurate performance/returns? Solely evaluating mutual fund returns won’t suffice, you need to assess the risk-adjusted return using performance indicators such as standard deviation and Sharpe Ratio.
Over-diversification: Diversification is a good thing, but over-diversification is not. For the sake of earning additional mutual fund returns, do not resort to investing in too many mutual funds.

VAT on Services – Why Accounting Firms Needed a VAT Consultant

The recent increase in VAT on services in the UK has created quite a stir in the accounting industry. As such, some accountants have decided to go ahead and re-classify their services as ‘VAT exempt’ rather than ‘VAT exempt’. However, this is not without reason. There are a number of accounting firms who are able to thrive irrespective of the recent increase in tax due to VAT.

This means thataccounting firms have to cater for a number of clients. Not all clients are UK based. Therefore, there needs to be a UK company with which they work. The majority of accounting firms are UK based. This can be attributed to the fact that the majority of firms need to have branches in the UK and therefore have to cater for a huge clientele base spread across the different islands of the UK.

VAT On Services Charged
For such firms, being VAT exempt allows them to offer a wider range of products and services to their UK clients. Since accounting firms have a vast client base in the UK, being VAT exempt allows them to offer a higher quality service to their UK customers. Therefore, for such firms, being VAT exempt is a benefit that outweighs the benefits that they get by being VAT on services charged. The latest VAT results show that accounting firms have benefited greatly from this.

VAT on services has become a major headache for accounting firms all over the world. However, accounting firms in the UK have been hit hard by this. The recent increase in VAT has meant a hike in clients. This means that even accounting firms who are VAT exempt have seen a sharp fall in their client base.

Accounting Firms
In such a scenario, it becomes essential for accounting firms to look at ways in which they can reduce their overall expenditure and increase their customer base. This is where they can look at ways in which they can expand their business. The scope of expansion includes taking up new projects and expanding into other areas. There are also other options like combining their existing client base with other firms that offer similar products and services.

This way, accounting firms can ensure that they remain on top of their game. They can do this by ensuring that they offer competitive prices. Competition among the accounting firms in the UK will continue as long as there is still VAT on services. It is just a matter of looking at how they can retain their client base amidst the pressure of competition.

Profit Margins
The latest tax changes have further worsened the situation for accounting firms. The changes come into effect on April 2021 and will force accounting firms to implement changes with regards to the way that they operate. Some accounting firms are already facing serious cuts in their profit margins. The latest changes have made things worse for such firms, with the tax rate hike making it tough for them to cope with the burden of the increased tax.

Many accounting firms have already announced that they will be forced to shut down. The closure of such firms would result in job losses and further impact the overall economy. The only way out of the problem that is looming large is for accounting firms to seek help from the VAT consultants. These consultants have extensive knowledge of all the technicalities that come with implementing the new tax changes. This way, accounting firms can plan their business strategies in accordance with the new tax laws. In turn, they can increase the productivity of their employees and reduce the amount of cost that they incur on accountancy every year.

What is a Forex Trading Strategy?

Let us begin by addressing the most basic question. What exactly is a Forex trading strategy? Traders use certain methods that help them in making a decision regarding the buying and selling of any currency pair. A trader is required to use certain trading techniques for the generation of profits. Trading strategies are of various kinds, and can often be looked at as manual or automated signals for trading.

Manual strategies are those where traders manually look for signals, for example through a computer. Automated strategies are those where there is no human input required and the work is done by an algorithm. The algorithm finishes the job of locating signals and executing them.

It is unsurprising that according to experts, a majority of forex traders end up losing their capital very quickly. If we go looking for reasons, a blatant one is the absence of trading strategies. While from hearing the words forex trading strategies, one may feel that it is a one fit for all thing- a wiser person would know that forex trading strategies are rather unique for everyone.

Undoubtedly, these seemingly complex words can hardly be called some no-brainer, but the common person also does not need to be so frightened of them. It’s important for any individual to first realize that long term wealth cannot be acquired without creating a strategy for their own. The profits without that strategy will only be short term.

To help you achieve your goal, here’s a list of the top forex trading strategies.

Candlestick strategy
One of the most profitable and used Forex trading strategies is the Candlestick trading strategy. One must keep in mind that this strategy is built on the spring principle of price movement. What you’ll essentially require is a chart plus a W1 timeframe. The size of the of the candle bodies has to be estimated. Different currency pairs like AUDCHF, AUDUSD, GBPCHF being some examples. Now by pick the longest distance from candle’s opening to the close. Long position means a bearish candle, whereas short indicates bull. This has to be done within a week of the candle.

Scalping
This strategy is considered a very advanced trading strategy among all the forex trading strategies. The span of these trades is extremely short, sometimes only being a couple of minutes. Scalpers rapidly try to beat the bid. For profit, they only skim some pips before they exit. Usage of low time-frame charts is common in this strategy. An example of this advanced forex trading strategy is the Forex-1 minute Trading Strategy.

Parabolic profit
This is another typically adopted forex trading strategy which fetches people profit. You will be required to set three moving averages and the Parabolic indicator. Use different colors to help make the analysis more convenient. In case you want to open a buy deal, ensure that the Parabolic is at the bottom. It should be on top, however, if the position is short.

Bollinger Bands Trading Scheme
This forex trading strategy utilizes Bollinger Bands, which are tools for technical analysis. They use standard deviation for establishing where the band lies. They’re useful for giving immense information on topics like periods of market consolidation and trend continuation, as well as potential price targets. There are three bands in total, and they revolve around SMA, or the simple moving average. the default value for this is 20. There are two default boundaries- lower band and upper band, and the price generally lies between these two.

Fibonacci trading
Another profitable forex trading strategy that traders tend to adopt involves the use of Fibonacci retracements. These are generally used for the identification and trading of the support and resistance levels. These are helpful in locating exactly where orders for market entry should be placed. Since every trader has their unique strategy, many prefer the Fibonacci style for how it suits them. There is usage of hard data only and close to zero emotional interference. A trader can use these strategies for both short and long term trades.

Is the strategy effective?
While you cannot stick to one forex trading strategy and call it the best or the top, there are some rather distinct differences that tell an effective strategy apart from the others.

The accuracy – an effective forex strategy will not be chockfull of lagging indicators. You will find accuracy through this strategy and can trust it.

Understanding – do you actually understand the strategy? It’s essential for a trader to not fall for the trap of seemingly impressive formulas and stick to something that actually makes sense to them. You must have a thorough understanding of your strategy.

Uniqueness – As we have established, it’s important that your circumstances align with the trading strategy. If it isn’t inherently working out for you and your character, it’s not going to fetch you the profit you want. Your trading strategy should be tailored according to your needs.

Types of Forex Trading Strategies
As previously established, there is no one strategy that works universally. What works for one trader may not suit the other. Thankfully, there are various strategies that traders can choose from, and below are some of the types of the forex trading strategies you can go through for tailoring your own strategy. Some of the common types of strategies are discussed below:

Trend trading – beginning with something incredibly easy to understand, this forex trading strategy is not only reliable but also simple to understand. Through this strategy, we try to get positive returns by taking the advantage of the market’s directional momentum.

Price Action Trading – we study historical prices here and formulate strategies that are technical and can be utilized both with an indicator and on its own.

Carry Trading – here, one currency is borrowed at a rate which is lower, and then we invest in another currency for a comparatively higher rate.

Range Trading – this strategy involves the detection of support and resistance points. Technical analysis is a chief feature of this strategy. Trades are placed around the key levels.

Day trading – this strategy is for short term. It is primarily designed for trading financial instruments within the same day so positions close before the market closing.

Why you must choose wisely
While many of the popular choices that are available have been outlined above, it’s crucial to keep in mind that you need to be wise while making this decision. If you’re not, you’ll end up in huge risks were not worth taking. Analysis of trading strategies is recommended, along with the analysis of the risk-reward ratio. It’s also necessary that you see how much time investment will be required in the strategy that interests you. Whether you’re more open to risk or averse to it also makes a huge difference.

Conclusion
Where most traders end up in losing out on long term success is that they limit themselves to an economic calendar only for fundamental analytics. Which is why creating a unique forex trading strategy is important for thriving in the Forex market. If you’re determined to go ahead in this market, it’s crucial that you brush up with the novelties and dedicate your time to studying ready-made schemes for trading. Emphasis has to be given on your individual action plan.