The increasing use of mobile and internet is fueling the growth of mobile payment technology. Mobile payment transactions areexpected to cross 3.5 trillion euros by 2023.Irrespective of their size, almost all businesses around the globe have started accepting mobile payments. For the commercial transactions, the increasing usage of Mobile Payment Technology have not only changed the way we purchase but also where we purchase.

What are Mobile Payments

Mobile payments are normally associated with digital wallets or e-wallets. The real meaning of mobile payment is quite similar to this. Mobile payment is a broad umbrella term which includes payments or transfer of funds via mobile devices using digital wallet applications,banking mobile apps, and online payments. Whereas,e-walletsare smartphone applications that can store and manage virtual money and can also facilitate payments for the online/offline services via wallet money as well as banks accounts and cards. Nowadays, e-wallets also provide the users with services like travel tickets booking, movie tickets, mobile recharges, etc.

Theforex 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.

India continues to be one of the highest remittance receiving countries in the world. Over the years, Indian economy has won the confidence of foreign investors, helping the market survive even during recession. In 2000, the government even replaced the FERA (Foreign Exchange Control Act) with FEMA (Foreign Exchange Management Act) to facilitate more foreign investors.

A growing number of people are going out and working in countries like the UK, USA and UAE. They send money back home in India on a monthly or even weekly basis. Purpose for sending money varies from maintenance of family, medical reasons, business or to buying a property in India.

If you also want to start sending money to India, there are various remittance modes to choose from. No matter which mode you choose, make sure it is reliable and licensed.

1. Direct deposit is a popular method of sending money to another country. It is an effective method for people who wish to transfer money back home on a regular basis. In this remittance method, the sender allows an Indian bank to withdraw money from his/her foreign bank account and send it to the recipient. Once the withdrawal is done, the recipient can go to that bank in India and get the money.

1. Another method for money transfer from US to Indiais to use foreign currency drafts. It is very similar to sending a bank draft. Mostly businesses prefer this method for transferring money from one country to another. Even though it is a time consuming option, it is quite safe if you are sending a large amount. On an average, it takes approximately 20 days for the money to reach if you send through foreign currency money drafts.

1. Money orders are also used for sending money overseas. These are provided by banks and you can send them via mail. It is a time-taking process but very safe.

1. You can also use a foreign currency cheque to send money. In this simple process, you just need to write a cheque and get it delivered to the recipient. The recipient can then get the money at his/her bank. It takes more than 20 days for the entire process to get completed. If you want to get it done faster, you can send the cheque through overnight courier services as these courier services take less time.

1. Wire transfers are one of the safest and quickest ways of sending money to another country. The recipient will get money through a wire transfer in just 1 to 2 business working days. It is also one of the most secure methods because it includes banking codes and routing codes.

With the advancement in internet, life has become very easy. Today, it is possible to send money from one country to another from the comfort of your home or office. If you are choosing an online agency, make sure it is licensed to offer this service.