Take a look at the Top 10 best banks in Ghana 2022 here
There about 28 private banks in Ghana currently and a number of commercial banks in operation. This makes choosing the best bank in Ghana extremely difficult.
The recent baking sector clean up even made it worse for many people to impose their confidence in banks.
Compare to Best Banks in Ghana 2020
Based on a number of factors, we have compiled the list of the top 10 best banks in Ghana you can choose from.
Whether your aim is make an investment, save money or one you can take your salary from, our list has got you covered. Read through and choose one that serves your purpose.
Top 10 best banks in Ghana 2021
Absa Bank Ghana
Absa Bank Ghana (officially Absa Bank Ghana Limited) (ABGL), formerly known as Barclays Bank of Ghana Limited, is a commercial bank in Ghana, licensed by the Bank of Ghana, the country’s central bank and national banking regulator.
ABGL is a subsidiary of Absa Group Limited, a financial services conglomerate, headquartered in South Africa, with subsidiaries in 12 African countries.
Absa Bank Ghana is a large financial services company, serving corporate clients, high networth individuals, retail customers and small and medium enterprises.
As of 31 December 2020, the bank had assets of GHS:12.546 billion (US$2.075 billion), with shareholders’ equity of GHS:1.948 billion (US$322.2 million).
This makes ABSA one of the best banks in Ghana for your investments.
CalBank is a commercial bank in Ghana, that is licensed by the Bank of Ghana, the central bank and national banking regulator.
Founded in 1990, CalBank is a large financial services retail bank that serves the banking needs of large corporations, high net worth individuals, non-governmental organisations, regular customers and small and medium enterprises.
As of December 2020, the bank’s assets totaled GHS:7,924,586,000 (US$1.370 billion), with shareholders’ equity of GHS:1,132,772,000 (US$195 million).
CAL Bank is among the top 10 best banks in Ghana.
Agricultural Development Bank Limited
Another one of the best banks in Ghana is Agricultural Development Bank Limited.
Agricultural Development Bank of Ghana, commonly known as Agricultural Development Bank or ADB, is a government-owned development and commercial bank in Ghana.
The bank is the first development finance institution established by the Government of Ghana. It is one of the commercial banks licensed by the Bank of Ghana.
Agricultural Development Bank (ADB) Limited is a universal bank offering a full range of banking products and services in Consumer, Corporate, Parastatals/Public Sector, SME, Agriculture, Trade and E-Banking services. Its business focus is universal banking with a developmental focus on Agriculture and more.
The Bank successfully listed on the Ghana Stock Exchange (GSE) on December 20, 2016. The new ownership structure of the Bank is:
- Financial Investment Trust -64.05%
- Government of Ghana – 21.50%
- Ghana Amalgamated Trust PLC- 11.26%
- Retail investors and ADB staff – 3.2%.
Ecobank Ghana Limited
Ecobank Ghana PLC (Ecobank) was incorporated on January 9, 1989 as a private limited liability company under the Companies Code to engage in the business of banking. Ecobank was initially licensed, to operate as a merchant bank, by the Bank of Ghana on November 10, 1989 and commenced business on February 19, 1990.
In Ghana, Ecobank has grown consistently over the years to become one of the well-recognized corporate brands in the banking industry.
The bank posted sterling financial performance at the close of 2020, with total asset size of GHS15.951 billion, shareholders’ funds of GHS2.448 billion, profit before tax of GHS782.240 million and profit after tax of GHS549.874 million.
This resulted in a return on average equity (ROAE) of 26% and return on average assets (ROAA) of 3.8%.
Ecobank is one of the best investment banks in Ghana.
Access Bank (Ghana) Plc
Access Bank Ghana Plc, formerly Access Bank Ghana Limited, is a full service commercial bank in Ghana, licensed by the Bank of Ghana, the central bank and national banking regulator.
Access Bank Ghana is a subsidiary and component of the Access Bank Group, a financial services conglomerate with headquarters in Nigeria and subsidiaries in the Democratic Republic of the Congo, Gambia, Ghana, Kenya, Nigeria, Rwanda, Sierra Leone, Zambia and the United Kingdom.
The group also maintains representative offices in China, India, United Arab Emirates and Lebanon.
As of 31 March 2020, Access Bank Group was a large pan-African financial services organization with assets in excess of ₦7.28 trillion (US$18.82 billion)
Stanbic Bank Ghana Limited
STANBIC BANK GHANA LIMITED is located in Accra, Ghana and is part of the Depository Credit Intermediation Industry. STANBIC BANK GHANA LIMITED has 159 employees at this location and generates $122.73 million in sales (USD). (Employees figure is estimated).
GCB Bank Limited
GCB Bank Limited formally known as Ghana Commercial Bank is the largest bank in Ghana in terms of total operating assets and share of industry deposits, with 14.2% of total industry deposits.
The shares of stock of GCB Bank Ltd are listed on the Ghana Stock Exchange and are part of the exchange’s GSE All-Share Index.
The government of Ghana maintains 21.4% shareholding in the bank, while the remaining 78.6% is owned by institutional and private investors.
GCB Bank Ltd maintains its headquarters in Accra, the capital of Ghana and the largest city in the country.
The bank has over 184 branches distributed across most major urban areas of Ghana, with plans to refurbish many of them following a re-brand in 2014.
GCB is among the top 10 best banks in Ghana.
Republic Bank (Ghana) PLC
Republic Bank Ghana Limited, formerly HFC Bank, is a commercial bank in Ghana. It is one of the commercial banks licensed by the Bank of Ghana, the central bank and national banking regulator.
As of March 2020, Republic Bank was a medium-sized financial services provider in Ghana, with total assets valued at GHS:3.377 billion (US$586.5 million) and shareholders’ equity valued at GHS:574,616,000 (approximately US$99.8 million)
Republic is one of the top 10 best banks in Ghana.
Societe General (Ghana) Limited
Societe Generale Ghana Limited (SG) is a bank that is based in Ghana, previously known as Société Générale – Social Security Bank (SG-SSB). The bank is part of the Société Générale banking group.
According to its website it is the 7th largest bank in Ghana and has 45 networked branches in Ghana
The bank markets the “Sika” program including the SIKA Card, a credit card and the Sikatext Initiative Program. The bank is actively investing in internet banking.
United Bank for Africa (Ghana) Limited
Currently, UBA has 19 African subsidiaries, contributing about 20% of the Group’s balance sheet, with a target of contributing 50%.
UBA is one of the top 10 best banks in Ghana
The Special And Moving Reasons Why People Play Casino
A common question that warrants curiosity is ‘Why do people gamble?’ What convinces people to play casinos despite knowing that there are more chances of losing money than winning is a mystery. There might be several reasons for this, such as the thrill of the unknown, best online casino bonus offers and promotion, an escape from the day-to-day grind, or philanthropic reasons.
Every individual has different situations and reasons for participating in gambling, but some very common reasons are observed over time.
Here we are going to delve deeper into some of the psychological reasons behind gambling:
1. To Experience the ‘High’ of Winning Big
One of the major reasons behind playing at any casino is the overwhelming desire to hit the jackpot and win big. This desire blinds people to the stark reality of their situation: they are losing hard-earned money at an almost impossible chance of winning. People get motivated by the win stories that are exaggerated for the sole purpose of baiting. They want to be the person who took a big risk by placing a large bet and got payback by hitting the jackpot. But more often than not, these dreams never come true. The blind optimism and the adrenaline rush misdirect minds into believing the impossible.
2. To Overcome a Financial Crisis
Another common reason behind gambling is people view it as an easy solution to their financial crises. The media presents gambling as a chance to win large amounts of money with very little input. This image of gambling leads people to believe that it is the answer to all their financial problems. In the current failing economy, debt, joblessness, and stacking bills are common. Most people indulge in casinos with the hopes of giving their very hard-earned daily wage and taking home double or even triple of that in return. Traditionally, this doesn’t pan out well, but some people still don’t lose hope and keep taking chances, falling deeper into the hole of addiction.
3. To Experience the Glamour that Ads Portray
Gambling advertisements traditionally illustrate gambling as an elegant affair. This is done to lure people under the pretence of a glamorous experience. People generally forget while watching these commercials that they are paid to entice the viewers. They portray casinos with beautiful people and even more beautiful places. This brand of advertisement is very mysterious. People are motivated by the story of someone who won millions and changed their lives. The commercials are catered in a way that makes people forget the low probability there is of actually hitting the jackpot.
4. To take a Chance on the Online Gambling Ads that Pop Up Everywhere:
Online gambling is a major contributor in getting people addicted to gambling since they offer the added benefit of winning money sitting at home. Gambling sites also lure people in through uncountable advertisements. Gambling Advertisements and commercials are all over the internet. They even exceed the news about technology, space or the latest Android Apps in Apple Trackers.
Be it the menial act of watching a video or buying something online, we almost always end up with a gambling advertisement pop-up. These advertisements emphasize the availability and simplicity of gambling. They advertise the presence of a support system to guide new users through any problems they might face during the game. The Anywhere, Anytime aspect of online gambling is a very enticing detail for millennials, and these advertisements exploit this endlessly.
5. For Recreation
Some people gamble to escape their daily routine and have fun while spending some money. Nowadays, it’s easy to stay anonymous online with the best cheap VPNs. At the start, it might just be for recreational reasons, but as time progresses, this might turn into a habit. Things will then start to turn for the worse as they might even have difficulty recognizing that their just-for-fun activity is now an addiction. If not controlled, gambling can turn the fun into the anxiety and depression of losing hard-earned money.
Some Other Psychological Reasons to Gamble
- To Bond With Other Gamblers
Lately, gambling has been associated with being in trend. Peer pressure and maintaining a personality are major reasons some people get into gambling. Gambling is also a popular new way to make friends and socialize. A little friendly game with friends can become a habit if left unchecked. Sometimes people give in to peer pressure and join in on a game so that they aren’t the ones left behind and missing out on the fun. Some join a game with their family members, unaware of the possible outcomes since they just joined a trusted family member. There are uncountable starts to gambling but only one end.
- To Escape the Daily Stress
The common start behind addiction is a need to escape reality. Gambling is another such example. Gambling might feel like a haven for some people as it provides them with a means to avoid daily conflicts or problems. Avoiding reality can only be a temporary solution to a problem. When reality comes crashing down, as it always does, it might become too much to handle further worsening anxiety and depression with the added guilt of losing money.
- Philanthropic Reasons
Some gambling avenues advertise themselves in a manner that leads people to believe that whatever money they are spending finally gets donated to charities. This misguided belief renders them free of guilt for losing money since it’s ultimately for a good cause. For instance, some sites might imply that they are involved in philanthropic causes such as funding soccer teams or helping poor kids. This might make people continue gambling despite losses since they want to help the mentioned cause.
According to statistics, almost 26% of the world’s population gamble. Around 1.6 billion people bet globally, with 4.2 billion gambling at least once a year. In 2015, it was projected that there were 173 million players worldwide. The gaming sector is currently thriving, as shown by the data. The number of people betting is certainly on the rise, from live casinos in Canada to the online economy in Spain. Indeed, as we move forward, technological advancements such as mobile casinos, live dealer games, and, potentially, virtual reality are assisting in driving annual revenue to new highs.
Depression, migraines, sadness, and other anxiety-related issues are common among those who suffer from a gambling addiction. Like other addictions, it can lead to emotions of hopelessness and powerlessness if left unchecked. But if you gamble properly, there is no fear of all that.
Published by Glusea
How to Find a Job According to your Qualifications
Despite the Covid pandemic 19, the reactivation of the economy has taken giant steps in recent months, and business activity and the demand for jobs have begun to increase considerably. But how can you find a job that suits your skills?
Finding a job that meets your needs can be a challenging process, but certainly, there are some very timely tips to optimize your job search and speed up the process
1. Find jobs that match your skills
Make a list of your work experience, education, and skills. Then, look for a position for which you are qualified. You should apply for jobs within your desired field or industry, but you may need to broaden your search.
Consider looking for jobs that you might not initially apply for but meet your needs. For example, if you’re in the technology sector, you can look for other positions in industries that are booming, such as data analyst. If you’re in the education sector and know how to write skillfully, try to figure out the relevant freelance sites, there you can pump yourself as a freelance editor or free paper writer expert.
That way, you’ll gain experience, and you’ll be better at generating creative ideas and developing helping other people. So, the skills you currently possess may well transfer to other positions and be much better paid than in the sectors where you usually perform.
When you apply for jobs, make it an ongoing process. Even if a company contacts you for an interview, you should continue to use it if you don’t get the position or the offer is not what you expected. In some cases, you may receive several job offers, and you will be able to choose the one that interests you the most.
2. Optimize your cover letter and resume
Hiring managers can see a CV in seconds, so you need to get their attention right away by optimizing every CV you send. Your cover letter and CV should be short, easy to read, and relevant.
To do this, you should adapt or write customized versions of your cover letter and CV for each job you apply for. In your letter, explain why you want to work for the company, summarize your skills, help the business thrive, and differentiate yourself from other candidates.
In your CV, highlight any experience and qualifications that meet the requirements. Limit your work history to the last five to seven years or the previous three jobs, so readers have a clear and concise idea of your experience. You can also include internships, volunteer work, education courses, or other projects.
Even if your skills didn’t grow conventionally, recruiters want to know what you’ve learned. For example, if you were successful in college sports, it would show that you are a team player. If you were an intern for a company in an area that is not your area of expertise, tell them what your tasks were, which will show that you are adaptable, that you could perform tasks other than the ones you are skilled in, and that you have other qualities that are not so obvious.
3. Ask your network for help
Some people find it difficult to ask for help, but it can be an effective way to get a job fast. Communicate with others in your field through industry events or webinars, email, or social media.
If you know someone who works for a company you’re interested in, ask them for advice on how to apply, or better yet, look for a “Company Assessment” tool. You’re more likely to get an interview if you know exactly what qualifications, experience, and personality the company is looking for. You can also ask for a recommendation.
Contacting your university’s alumni association, associations, and former colleagues can also help. Talking to the right people enables you to find a job quickly and learn more about opportunities. Don’t be embarrassed to announce that you are looking for a job.
4. Consider a temporary position
Getting a temporary position or contract can help you meet your momentary needs while looking for permanent, full-time positions. Christmas is coming, and with it, the generation of temporary jobs to meet the demand for products and services, keep an eye out for these job opportunities. Some of the benefits of a temporary, contract, or freelance position are:
- Because companies often need temporary employees immediately, the hiring process is quick.
- Freelance jobs are generally flexible, which means you can come in for interviews whenever you need to.
- You can meet people working in your industry and learn about long-term opportunities.
- If a company in your field likes your work as a temporary employee or contractor, they may promote you to a more permanent situation.
- You can work full time whenever you need to and then decrease your hours when you find permanent employment.
A position like this will help you cover your expenses until you find a job that you are delighted with and is usually better paid for the time contracted.
How to Get Started in Forex Trading
The forex market is an option you can consider when you want to invest some of your money to make it grow. Similar to the stock market, but also quite different, the forex market involves trading currency pairs. Anyone who is interested in forex can get into it, and you can decide how much you want to invest in it. Before you get started, though, there are some things to think about, and steps you need to take, to help ensure you get the best results. Continue reading to see what we mean.
Read Ibrah One net worth
Figure Out Which Forex Broker You Will Use
One of the first things you have to do when you decide that you want to get into forex trading is figure out which broker you will use. There are many online broker options out there, so weigh them carefully by comparing their pros and cons. Select a reputable online broker that suits your needs in terms of the services they provide and the fees they charge. And also consider the platform that you will be able to use to make your trades, as well as the tools that are going to help you make the smartest trades. For example, a popular trading platform is MetaTrader 5.
Learn How It All Works
If you want to succeed in forex trading, it isn’t something you should just dive into without doing the right amount of research first. So, take the time to properly educate yourself on how it works. For example, if you want to start trading forex, take the time to discover how people make money from their trades so you’ll know how to do the same.
Use a Demo to Get Some Practice
Doing research into forex and how it works is one thing, but you won’t really know what it’s like until you give it a try for yourself. One way to do just that without any risk of losing money is by taking advantage of a demo account. Basically, you can practice trading currency pairs with virtual money. Then, once you are ready, you can start trading with your real money. With this training, you may feel a lot more confident, which is definitely something you want!
Determine How Much You Will Invest
Once you have done some practice with a demo account, you will have a much better idea of how forex trading works and what it takes to make the moves that will deliver the highest returns. This training also gives you insight into just how risky forex can be. So, the next step is to decide how much of your money you will invest in the forex market. Whether it’s a lot or a little is entirely up to you, but you might want to start with a small amount before working your way up. Remember, there is a risk that you could lose money when trading forex, just like when you trade in the stock market.
Finally, once you are ready, you can begin trading forex to see if this is the investment strategy that you would like to follow long-term to grow your money. By keeping its pros and cons in mind and staying on top of various currencies’ behaviors, you will be better equipped to make trades that will reduce risk and increase profits.
Which Bank is Best for Investment in Ghana? Best 10 in 2022
In this list, we bring to you the list of the top 10 best banks in Ghana for investment in 2022. Saving money can a harder task for most people to do. With investment banks, you simply entrust your money in the hands of a financial institution to trade with securities on your behalf to generate dividends.
In this list, we bring to you the list of the top 10 best banks in Ghana for investment in 2022. Saving money can a harder task for most people to do. With investment banks, you simply entrust your money in the hands of a financial institution to trade with securities on your behalf to generate dividends.
Aside the financial security provided by the invest banks, they also give higher returns than the normal savings account
Read About the top 10 best banks in Ghana
The are a lot of investment bank in Ghana, however, not all of them are the same when it comes to payment of dividends. In this article, we will be profile the top 10 best investment banks in Ghana with which you can invest your cash.
Which bank is best for investment in Ghana?
with investment banks you can choose a low risk path to increase the returns on your deposits. Unlike savings, you are less likely to get access to you money at any given time.
without further ado, lets take a look at the top 10 best invest bank in Ghana;
- National Investment Bank
- Fidelity Bank
- Standard Charted
- Stanbic Bank
- First National bank
- Access Bank
Top 10 Best Investment Banks in Ghana
take a look at the best investment banks in Ghana at the moment.
EcoBank Ghana Limited
On top of our list is Ecobank Ghana Limited. The Bank have a lot of investment options you can choose from. They are located in 30 countries in Africa thereby providing a minimum risk investments.
Among the invest options provided by the bank includes;
- Ecobank Fixed Income Fund
- Ecobank Money Market Fund
- Ecobank Securities Trading Platform
- Collective Investment Schemes
- Ecobank TBILL4ALL : The Ecobank TBILL4ALL is a mobile-money based investment service that allows Ghanaians to purchase and manage Government of Ghana Treasury Bills from their mobile phones. Ecobank Ghana currently offers the service on the MTN mobile money platform.
Another one of the best investment bank in Ghana at the moment in Databank Group. The bank provide a wide range of investment solutions to customers. Their products includes;
- MFUND : MFund puts you on the road to financial independence by offering you better returns than a savings account, easy access to your funds, and the peace of mind knowing that your investment is protected.
- Epack: With Epack, investors get to enjoy well-researched stocks traded on the Ghana Stock Exchange (GSE) and 9 other African stock markets. This helps to diversify investor-risk and yield significant growth in the long term.
- Edifund: EdIFund seeks to provide you with the peace of mind that comes with knowing your educational needs are being taken care of. Take control of your education.
- Balanced Fund: Databank Balanced Fund (BFund) is a mutual fund designed to give you the best of both worlds when investing for long-term needs
National Investment Bank
National invest Bank is another one of the best investment banks in Ghana at the moment. Among the packages includes;
- Fixed Deposits
- Call deposits: Call Deposits are investments available to clients who are interested in making cash lodgments for an unspecified period whilst attracting high returns. The rates are negotiable per the level of investment.
- Treasury Bills
National Investment Bank, normally abbreviated to NIB, is a state owned commercial bank in Ghana. It is one of the commercial banks licensed by the Bank of Ghana, the national banking regulator. NIB is a medium-sized financial services provider in Ghana.
More on best banks in Ghana for investment
Calbank Ghana Limited
CalBank is a commercial bank in Ghana, that is licensed by the Bank of Ghana, the central bank and national banking regulator. Calbank has a list of investment packages you can choose from. Among them includes;
Premium Account: CalBank Premium Account is a hybrid account designed to offer the unique benefits of both savings and current accounts. It also offers clients the prestige to issue cheques as well as enjoy attractive interest rates on the account.
Student Account: CalBank Student Account is a unique account specially designed to help students manage their finances. It is for every tertiary students of age 18 years and above. It offers students a convenient and cost-effective way of banking without any applicable service charges. Attractive interests for accounts with over GHS 200.
- Calbank Invest plus Account : This is a unique deposit instrument that is structured to provide the general public with flexible investment opportunities
- Fixed Income Securities: A fixed income security is an investment that provides a return in the form of fixed periodic payments and the eventual return of principal at maturity
- Calbank Supersave: This is a special investment product designed to address clients’ investment needs.
- Fixed Deposit: This is a high interest-bearing investment instrument specially offered to both corporate and individual clients.
- Treasury Bills
Among the low-risk investment options offered by Fidelity Bank includes;
- Business Savings Account: Business Call Account is a high yielding investment account with a special feature that makes it accessible anytime. It is linked to your local currency business account with an automatic two-way standing instruction arrangement to ensure you don’t miss those payments schedules. You also earn attractive interest rates on your surplus funds.
- Commercial Bonus savings plan: Commercial Bonus Savings Plan rewards businesses with competitive interest rates on their ambitious savings plan. Whether you are planning to expand your business, acquiring new equipment or vehicles, the Commercial Bonus Savings Plan allows you to build up funds for future projects.
- Business Call Account: Commercial Savings Account helps businesses save and manage surplus funds at competitive interest rates. Set up a standing order from your business current account and start saving for that project or asset.
Standard Chartered plc is a British multinational banking and financial services company headquartered in London, England. It operates a network of more than 1,200 branches and outlets across more than 70 countries.
In Ghana Standard Charted has the following packages;
- Premium current account
- Foreign current baccount
- stqandard current acoount
- access 247
- Diva club current acoount
- savingsplus account
- my dream savings
- Premium savings account
Stanbic Bank Ghana has the following investment solutions;
- Pure Savings account
- Fixed Deposit
- Contract savings account: ContractSave is an affordable, disciplined savings plan that can be tailored to suit your specific needs.
- Stanbic Cash trust Fund: Maximize your short-term income while preserving capital through investing in a portfolio of money market
- Individual Fund Management
- Bonus Invest Account : A Bonus Investment allows you to invest a lump sum over a chosen period and rewards you with bonus interest
First National Bank
First National is another one of the top 10 best investment banks in Ghana. The bank has the following packages;
- 32 day interest plus
- fixed deposit
- call deposit
- flexi fixed deposit
- 7 Day notice
Access bank Ghana has numerous packages;
- AGAPE ACCOUNT
- HAPPY SCHOOL ACCOUNT
- MPOWER BIZ ACCOUNTS
- MPOWER SALARY ACCOUNT
The Agricultural Development Bank (ADB) is a government-owned development and commercial bank in Ghana.
The institution engages in corporate banking, retail banking, risk management, treasury management and has an agribusiness division.
Thanks for reading about the top 10 best investments banks in Ghana. Leave your reply in the comments below.
What is Forex Trading? How to Trade Online
An uninitiated person, when he hears the phrase “financial market”, does not see much difference between the concepts of the stock market, exchange, Forex, stock markets, bonds, currencies, derivatives, etc. Therefore, it is necessary to clarify the situation.
What are financial markets — the stock exchange and Forex?
The financial market is an environment for the mobilization and concentration of capital, lending, currency exchange, and investment in the manufacturing sector. The balance of supply and demand for borrowed capital forms the global financial market. It can be divided according to the types of goods that are subject to bargaining.
There are the following types of financial markets:
- Foreign exchange market (Forex) — the main commodity here are currencies, which are bought and sold by brokerage companies, banks, and investment funds.
- Stock market — securities (stocks, bonds, bills, derivatives) are traded here.
- A commodity market is a place for trading in raw materials: oil, metals, agricultural products, etc.
- Precious metals market — often included in the commodity market category, but it should be distinguished as a separate segment due to the noticeable increase in trade turnover. Precious metals have traditionally served as a means of protecting financial reserves.
It is also worth considering the division of financial markets by the trading method:
- Exchange platforms. Exchanges are separate trading platforms that trade standardized contracts. Each of the exchanges specializes in a specific market segment — metals, energy, agricultural products. Trading on exchanges takes place at a strictly defined time (trading sessions). To conclude any purchase or sale transaction, the presence of an official counterparty (representative) in the sales area is required.
- OTC Markets. For instance, Forex is a market that does not have a specific trading location. Trading can be conducted over the internet or by telephone. Forex trading does not depend on the place where transactions are made but is influenced by trading sessions held in different parts of the world at different times — Asia-Pacific, European, and American. Thanks to this feature, trading is carried out almost around the clock — sessions move from one to another. These properties allow us to say that the Forex market is the most liquid and accessible to almost every trader.
All these can help you answer the question of what is Forex trading all about. Beginners should use educational materials that are presented in such blogs, as Forextime.
How to start trading Forex?
The basis of pricing in the Forex market is trading in an open market auction. Price arises from supply and demand at a particular point in time. In the foreign exchange market, hundreds of thousands of transactions are simultaneously made: up to 5 trillion dollars pass through the Forex market in one day. If at some point in time there are more sellers than buyers, then the price falls. If at some point there are more buyers than sellers, the price rises. All this leads to constant movement and price changes.
Choosing a broker
To start working in the Forex market, you need to decide on a broker who will provide you with access to the market. This is a crucial step and must be taken seriously. After all, in the end, the broker is your partner with whom you will do business.
Choosing a trading platform
After the future trader has chosen a broker, it is also necessary to decide on the trading platform on which he will trade in the future. A variety of trading terminals allows you to choose the most suitable option, considering your needs and preferences.
In Forex trading, your main working tool will be a trading terminal. It is through it that the trader maintains contact with his broker and gives him orders to buy and sell financial instruments. Besides, if a trader plans to trade not only from his desktop but also to use various mobile devices and gadgets, then it is necessary to study possible options, install and test the selected programs on your devices. This is necessary for the trader to have the opportunity to access the market at any time or place (whether you live in Nigeria or another region), and to be able to carry out the necessary transactions.
Demo account and first practice
After selecting a platform, you have to decide on the type of account. To begin with, it is better to choose to trade on a demo account, which will help you learn how to open and close positions, set Stop Loss and Take Profit levels, and use charts and indicators.
- Stop Loss is a protective order placed by a trader to limit possible losses in the event of a negative development of a trading situation.
- Take Profit is an order that will automatically close a deal when the instrument quotes reach a certain price level.
How to trade on a demo account for practicing?
Suppose that a trader has selected the MetaTrader 4 terminal as the most popular one, opened a demo account for 10,000 virtual USD, and decided to trade 1 lot deals on the EUR/USD currency pair. In this case, the trader opens transactions for virtual money, in case of loss of which he will not receive real financial losses. Each trader can open many demo accounts with a broker and spend any amount of virtual funds on trading.
Six Secrets You Need To Know About Online Gambling
Although online gambling has significantly risen in popularity in recent years, not many people know the inner workings of this billion-dollar industry. Regardless of whether you’ve just started gambling online or just reading this for its trivia, we are going to share some hidden things about online gambling that we think you should know!
Online Casino Bonuses
When you join an online casino, they appear to shower you with exclusive gifts that seem to be one of the bigger slots bonuses out there. This is done so that you’re inclined to sign up with their casino and play more. Although it may appear great at first, it might not be as amazing as you thought it would be.
In reality, online casinos require you to wager 20 to 50 times your deposit amount as a prerequisite before you can cash out your money. This is to prevent sly users from cunningly profiting at the casino’s expense. In certain instances, after calculating the “hefty” bonuses you were showered with, your deposit, the huge wager requirement, and the house edge, your credit in the casino can end up with a negative value despite winning! Hence, it is important to research the online casinos you choose to use, along with their house edges and wager requirements.
The Random Number Generator (RNG)
The RNG is a machine used to generate numbers or symbols that are not predictable. What this means is most industries, especially casinos, use RNG that uses a seed number to produce outcomes in their games. These are computer algorithms that select a number from a predetermined range of numbers.
RNG In Slots
In slots, a value is assigned to every symbol on a reel. So if there are ten symbols on one reel, and it’s a conventional five-reel machine, the RNG would have values of 1-10 for each reel. When you spin, the outcome would be five different symbols based on the values assigned by the RNG. And if the 5 ‘random’ symbols make the winning combo, you’ll receive your payout. With RNGs, both the casino and the player can’t manipulate the winning chances, making playing much more fair and fun.
RNG In Poker
In poker, the RNG filters through millions of numbers per second, and when the time to deal out a new hand comes, the RNG stops. The current card deck distribution is then used to deal out the hand. With so many combinations in play, there is absolutely no way for humans or computers to predict the outcome of the hand. From there, the algorithm filters through all the potential possibilities, making any attempt at anticipating the final product completely impossible.
Online Gambling Information Websites
Fake Promotions And Reviews
Online casinos commonly pay certain websites heft sums to promote their casino or to review it well regardless of how reliable the casino is. Similarly, they also use this to flood their page with tons of good user reviews.
However, do note that most of them are probably advertised reviews rather than real user reviews. If you look closely, you can differentiate them! The trick is to look at the phrasing of the reviews. If one review is worded very professionally and flamboyantly, you can tell it is advertised. If it sounds more sincere and layman, it is less likely to be advertised. Regardless, an unspoken rule is to take everything you see on the internet with a pinch of salt.
Another common scam is fake gambling skill packages that guarantee you winnings and are vague about their contents. They tend to use flamboyant words and make it seem like they cracked the code to beat the game. That is completely nonsensical. The truth is you can get better at casino games but they often don’t need you to pay so much for skill packages. A better or safer alternative would be to read books about gambling games with researched and legitimate backings, after all, it is easier to proof check the reliability of books rather than some shady online gambling package.
Live Dealer Blackjacks
Live Dealer games are online casino games that do not have the RNG, instead, they start a live video of a dealer dealing casino games with actual cards, dice, and casino game items.
In Blackjack, there is a technique called “card counting” which is used by advanced players to increase their chances of winning blackjack games. To card count, you start by assigning a value of “+1” or “-1” to each card dealt. Before the deal, the running count is always “0”. Every time a card is laid down on the table, you’re going to add or subtract one from the running count — the overall score after adding the values of each card dealt. If you see a “2”, “3”, “4”, “5”, or “6”, add one to the total. If you see a “10”, Jack, Queen, King, or Ace, subtract one from the total. If you see a “7”, “8”, or “9”, the total remains the same. This counting technique is known as “Hi-Lo”.
However, this doesn’t work if the deck gets shuffled on every hand, which is a common practice in live dealer blackjacks, who use automatic shuffling machines.
Online Gambling Rigging
As much as it is fun and interesting to speculate, it is extremely rare for online casinos to rig their games. Online casinos earn money by awarding winnings at lesser odds than the winnings.
This can be seen in roulette, a game where you bet that a unique number will show up among 38 numbers. The odds of winning is 37 to 1 while the casino pays off the bet at 35 to 1. With math naturally in their favor, there is no need to rig games. It’d be more troublesome to do so. In the casino industry, reputation is everything, and a casino will suffer way more loss if they were caught or even suspected of cheating.
While it is uncommon to see casinos rig their games, it doesn’t ensure a completely fair game for you as there will always be players who try to cheat and this can be seen in online poker. One common way is data mining where players can get their hands on opponent’s data and statistics to judge their tendencies and maximize their chances of winning the game.
Another common cheating method is through collusion. This is when players share their cards to help them make better choices when it comes to odds. For the most part, this cheating is normally not very beneficial to the cheaters, to begin with except in a few situations where the information may actually help. With more than two players in on it, however, it may become a problem with 4 players are all sharing information. This is difficult to catch because, in this scenario, cheaters will fold their hands when they realize another one of theirs has a stronger hand. Since you can’t see mucked cards online, it’s impossible to know if people are folding strong hands.
However, the poker site may or may not be able to detect this type of play. Let’s say a flop showed ace, kings, two, where Cheater A holds a pair of kings while Cheater B holds ace and king. If cheater B were to fold to a bet from Cheater A there should be some warning bells raised from the server end.
All in all, online gambling can be exciting but it is also risky. In its essence, it deals with money, a lot of money and when it comes to money, it can drive people to do questionable things. It is always better to safeguard yourself so you can minimize your risks whilst having fun!
Geography of the Wealthiest Gamblers in 2021
People all around the world are dying to know what it would be like to make a living as a professional gambler. As it turns out, there is an extensive list of wealthy gamblers, who probably had some of their best year ever in 2021.
But make no mistake with expectations and illusions, as these gamblers also suffered big losses. What has set them apart is that they knew how to play intelligently, using strategies, reliable and safe sites such as SlotsUp, and a lot of patience to achieve success.
In this article we would like to reveal to you the geography of the wealthiest gamblers in 2021.
Bill Benter | Blackjack & Horse Racing – United States
Total Net Worth: $1 Billion
For Benter, it all started in Las Vegas. He was born in Pennsylvania and has a degree in Physics, in which he immediately stood out for his incredible mathematical skills.
It turns out that his knowledge of mathematics and his intellect are so incredible, that most of the big casinos in Las Vegas have already banned him for life – and he’s only been in the industry for seven years.
It was when he met Alan Woods that he moved to Hong Kong to gamble at Horse Racing. After parting ways with Woods, Benter honed his horse betting skills to such an extent that he even created his own software.
2021 was a particularly good year for him, as he managed to bank over $100 million, with single races bringing him up to $10 million.
Edward Thorp | Blackjack & Baccarat – United States
Total Net Worth: $800 Million
Apart from being a professional gambler, Thorp is also a mathematics teacher and author. In fact, he can be called as the inventor of the first wearable computer which he created together with Claude Shannon in 1961.
Edward Thorp did not take long to become the world’s wealthiest gambler on several occasions. His beginnings were on Wall Street, where he used his mathematical skills to predict real abnormalities.
In addition to being a genius thinker, Thorp is so good at Blackjack that he was even inducted into the Blackjack Hall of Fame.
Zeljko Ranogajec | Blackjack & Horse Racing – Australia
Total Net Worth: $610 Million AUD
Even if it is true that $610 million AUD is only $450 million USD in 2021, Ranogajec easily makes it to the podium of the wealthiest gamblers of the year.
Born in Australia, Zeljko did not study mathematics, but tax, finance, and banking. He taught himself to count cards in Blackjack while working in a casino. As it turned out, he was soon banned from all land-based casinos in Australia, so he moved to the United States.
It didn’t take him long to get kicked out of Las Vegas either, so he’s now back in Australia and his big success last year came from horse betting.
Terry Ramsden | Horse Racing – UK
Total Net Worth: $200 Million
Terry is not just a professional gambler, so to speak. His specialty is the Japanese business market, where he was already successful in the 80s. Although it was not that market that made him the 57th richest person in the UK.
Ramsden is very famous in the horse racing world, although he started with low stakes races, until he invested and bought a company specialized in betting on horses.
It took three years for his company to create revenues of $4.1 billion USD. Although this revenue did not come directly from his betting activity, Terry still managed to make it onto this list with a net worth of over $200 million.
These are just some of the biggest and most interesting names of professional gambling, with a huge number of wealthy players following their footsteps.
Let’s see what 2022 will say about these gamblers, and perhaps there will be some new addition to the wealthiest and luckiest players worldwide.
Useful Tips on how to Buy a Used Car Profitably
Every year, new models of vehicles appear on the Nigerian automotive market. Buying a new car from the salon is a very pleasant event that can become an exciting memory. Unfortunately, not all drivers can afford such a serious investment of money. Buying a used car is a reasonable solution for those who want to keep a budget and enjoy driving without extra costs. In our article, we will talk about the reasons why you should also make a choice in favor of buying a used vehicle.
At the same time, buying cars in Nigeria shouldn’t be risky. Here is how to protect yourself from buying a lemon car and save your budget.
The main factor that many experienced motorists pay attention to is the reliability of used cars. You’ve hardly heard stories about how old cars have been rusting in just a few years. But modern vehicles, unfortunately, are often subject to such a problem. No one wants to give money for the latest model, which will turn into a rusty pile of metal too soon.
You can verify the reliability of a used car by studying the history of operation. If the previous owners drove carefully and regularly remembered about maintenance, you have nothing to worry about. At the same time, some facts from history may alert you. If the vehicle was involved in an accident or was damaged as a result of natural disasters, you will have to resort to repair. Use the vin decoder to be sure of the safety of the selected car.
You must not forget about the importance of a good reputation and positive reviews. The older the car and the earlier it appeared on the automotive market, the more information about it can be found. Almost all car brands produce both excellent vehicles and not very successful ones. When you get acquainted with the stories and opinions of other motorists, it is easier for you to form an objective view that will help you make the right purchase decision.
Someone may object that the car from the salon definitely deserves a good reputation because of its clean history. But you need to understand that it has not yet been used in real conditions on the road, and therefore not all the words of the dealer should be trusted. It is much safer to get acquainted with the real vehicle history, which reflects its technical condition.
The decision-making may also be influenced by previous positive experiences if you previously had a car of the same brand or brand. Then you can roughly imagine how well the vehicle fits your driving style.
Then you won’t want to invest in a brand new car that you’ve only seen in an ad. It is much more profitable to turn to a reliable and proven option that will not give you an unpleasant surprise.
You can also ask your friends what vehicles they use and whether they can recommend this model. If for a long time they have not been forced to give money for expensive repairs and fixing various breakdowns, you can pay attention to such a brand. However, it can be dangerous to rely only on someone else’s feedback. Additionally, use the license plate lookup to be sure of the correctness of your choice.
You also have the opportunity to get certain guarantees if you buy a certified used car. Now you can easily find a dealership or a specialized company that sells used vehicles and at the same time provides reliable information about their history. In this case, you do not need to be afraid that you will find a serious breakdown after a test drive or registration of the transaction.
Thus, buying used cars has quite a lot of advantages. If you are looking for a suitable vehicle, it is not necessary to consider expensive options from the salon. Having saved your budget, you will be able to spend money on other useful things, while enjoying comfortable and safe driving.
Read about the most expensive cars in the world
The Curious Creators of the Main Cryptocurrencies
Many mysteries surround the creators of the world’s main cryptocurrencies. There are anonymous characters and also other well-known ones with a public life that generates worldwide interest in parallel with the interest aroused by the main cryptocurrencies.
In this article we tell you about the main names behind the most important cryptocurrencies in use in the world.
Satoshi Nakamoto, the creator of Bitcoin
It has recently been 11 years since the public disappearance of Satoshi Nakamoto, the anonymous figure credited with the most significant technological innovation of the current century: bitcoin.
In December 2010 the inventor of the most popular and well-known virtual currency left the community and has never reappeared.
Some theories suppose that the fact that Wikileaks used bitcoin in 2010 upset Satoshi Nakamoto to the point that the creator of the cryptocurrency disappeared forever.
A day before disappearing forever Nakamoto had written, “I make this appeal to WikiLeaks not to try to use Bitcoin. Bitcoin is a small beta community in its infancy. They would not be getting more than pennies and the exposure they would bring would probably destroy us at this stage.”
Today in 2021 the identity of Satoshi Nakamoto remains a mystery and it is not known if that mystery will remain hidden forever. It is very likely that it will.
Supposedly, as announced in his Wikipedia biography, Nakamoto was born on April 4, 1975. He claimed to be a 37-year-old male resident of Japan, however many doubt the veracity of that identity as the alleged Nakamoto was fluent in English and furthermore bitcoin is neither labeled nor documented in Japanese.
Some researchers and analysts defend the idea that Nakamoto is actually a group of people and not a single character. If he were a single character, he must be a genius. The initial development code of bitcoin is so well developed that it is difficult that it could be the creation of a single person.
Over the last decade several people have claimed to be or have been fingered as the real Satoshi Nakamoto.
Recently, in September 2021, a sculpture was unveiled in Budapest depicting Satoshi Nakamoto covered by a hood. The face of the bronze sculpture is designed to reflect the person looking at it head-on. It is a symbol that represents Nakamoto’s anonymity while reinforcing the idea that anyone or everyone could be him.
Vitálik Buterin, founder of Ethereum
The creator of the world’s second most popular and well-known cryptocurrency was born on January 31, 1994 in Russia. He holds Russian-Canadian nationality.
He was considered a child genius. When he was in the third grade in Canada he was placed in a class for gifted talents. From an early age he developed skills in mathematics, programming and economics.
Although many do not know it, the creation of etherium has a lot to do with his frustration generated by being an avid World of Warcraft player. The game’s developer removed a feature from one of Buterin’s favorite game characters. This made the young Buterin aware of the risks and dangers posed by centralized systems.
During 2007 and 2010 World of Warcraft was Buterin’s main activity.
Buterin is the co-creator of ethereum, which is not only a decentralized network for mining cryptocurrencies but also a platform for developing software.
He is also known for being one of the founders of Bitcoin Magazine, one of the first serious publications about cryptocurrencies and which in 2012 started publishing in print.
Is it worth buying ethereum today or bitcoin? If we are guided by the brilliance of its creators and developers, the answer will surely be yes. Yes.
How Research Papers Can Help College Student
There are several ways in which research papers are helpful for university and college students. It has become an integral part of the college curriculum, and it’s almost impossible to go through the college setting without writing research papers. However, this is changing. Many people now perceive them as irrelevant, given the rise of technology and modern publishing. Plagiarism is another reason why people write research papers off, coupled with the fact that teachers no longer want to be buried in over ten pages of research papers for over 100 students.
Research papers are dying in colleges and universities year after year. Still, before it is taken out of the curriculum entirely, it is essential to point out how research papers are helpful to students.
According to college paper help, these are some of the ways that research papers help students:
- It requires the use of complex reading skills for multiple sources
Students have to read and study complex texts from various sources in writing a research paper. In their research paper writing process, they must comprehend, analyze, evaluate, and synthesize these texts. This is a complex task and more complicated than writing an article summary for a report. This effectively reflects the nature of the work demands on college students and prepares the students for their careers after college.
- It increases student curiosity and creates a research mindset in the student.
Everybody has the drive-in from childhood to search and understand complex questions and situations. An innate human trait is a drive to question information while exploring various experts and sources. With research papers, students have the required structure to explore this trait, and they can do this independently in studying multiple aspects of a course.
With research, students learn to find answers to complex questions and situations. They can investigate profound issues and dig deeper into broad and complex problems to find out isolated facts
The advent of the internet and social media has led to information overload. According to several thesis writing services, students are primarily at the receiving end of the information. They come in social media posts, tweets, blog posts, etc., narrowing the students’ experience to opinions from anonymous writers. These tweets and posts don’t come with citations or bibliographical references. However, research requires more than expert opinions and information, but sources attribution through bibliographies and in-text citations. The more they use research materials with bibliography and annotation, the more they develop the mindset to ask the right questions: where’s this coming from, who said it, why did they say so?
- Intellectual property rights and plagiarism
The prevalence of plagiarism in students’ works may make an excellent argument to exclude research papers from the college curriculum. However, more work needs to be put into dealing with intellectual property rights and plagiarism issues. This issue must be a significant conversational point throughout the college curriculum, whether related to video piracy, music, or research papers.
Many students may not understand plagiarism for what it is or the consequences it bears for their character and learning process. They don’t see how it is a big deal or why and how to avoid it. Without this firsthand knowledge passed to the student, plagiarism will continue to be an issue in college papers.
Although plagiarism is taught through direct instructions, students must learn to practice how to write research ethically. The process of writing a research paper provides both teachers and students with the opportunity to discuss the ethics of writing and intellectual property rights as an essential part of the student’s assignment.
Writing research papers in the age of information.
Writing a research paper involves finding information, understanding it, and explaining it to others. It is also a means of authentically extending the purpose and content of the course.
Both public and private sectors create and consume research that is written carefully. For example, feasibility studies, field or laboratory research, and inquiries used to determine banking, political, or education policies are all formats of a research paper used by organizations when making critical decisions.
Before new information is reported, published reports with bibliography and requisite citations are used. According to writers providing help writing college papers, all research starts from what experts have previously contributed to the discussion. Since students are entering into this intellectual milieu after they graduate from college, they must be prepared for the skills (complex reading, thinking, researching, and writing) that they will need to succeed. Without experience writing research papers from college, students will struggle to settle into this medium after graduation.
Research papers are beneficial for students in many ways beyond their present status as students. While many students will learn and keep the knowledge from college, they will need and use it beyond their college years.
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