Everyone is not ready to take the risk of investing in forex market. I hasten to add that the foreign exchange market (from now on called forex market), strictly speaking, is not a financial market, because lending and borrowing does not take place in this market. However, since residents (ignoring exchange controls – that exist is some countries– for a moment) are able to borrow or lend offshore, or foreigners are able to lend to or borrow from local institutions, the forex market (which allows these transactions to take place) has a domestic and foreign lending or borrowing dimension, and can be viewed as being closely allied to the domestic financial market. Essentially the forex market is a conduit – as far as investment in financial markets is concerned.
The participants in the forex market are wide-ranging:
i. Authorised dealer banks.
ii. Foreign exchange brokers.
iii. Foreign banks.
iv. Central bank.
v. Government.
vi. Retail clients (household sector).
vii. Non-bank authorised dealers.
viii. Corporate sector.
ix. Arbitrageurs.
x. Speculators.
The forex market is the mechanisms / conventions for the exchange of one currency for another, for example LCC for USD. The banks are dominant in and “make” this market. It is appropriate for banks to make this market because bank deposits are exchanged in the first instance (in the second instance the purchase of a foreign investment is made, for example). The banks make this market in that they are prepared at all times to quote buying (bid) and selling (offer) exchange rates. It will be apparent that in order for a forex market to function there needs to be a demand for and a supply of forex. Demand is the demand for, say, USD, the counterpart of which, say, is the supply of LCC. This cannot be satisfied without a supply of forex (USD), the counterpart of which is a demand for LCC. The forex market brings these demanders and suppliers together.
Currencies are either:
i. Floating: if they are free to respond to supply and demand.
ii. Managed floating: if the central bank intervenes in the market by making purchases / sales of forex to keep the exchange rate within a specified band (i.e. local currency in terms of another currency – usually the USD).
iii. Pegged: if the exchange rate between the local currency and a specified foreign currency (usually the USD) is fixed by decree.
The terms spot and derivative markets also apply to the forex market, and the terms essentially apply to settlement dates. A spot transaction is a deal done now (at T+0) for settlement on a date established internationally by convention / agreement, which is T+2. The forex market also has a substantial derivatives market, the main products of which are forward exchange contracts (outright forwards, forex swaps, forward-forwards, etc), currency swaps, futures and options. The proper financial markets (i.e. the debt and share markets) have the market forms primary and secondary markets. Only primary market applies to the forex market; participants purchase or sell forex and they do an opposite deal if they wish to reverse the initial transaction (as in the derivative markets).
Market type denotes OTC (over the counter) or exchange (= formalised market). The spot forex market is OTC, while the forex derivative markets fall into both camps: forward, swap, and some options markets are OTC, while the futures and options on futures markets are formalised (this applies internationally). Both the trading drivers “order” and “quote” apply to the forex market. The forex market is the domain of the substantial banks, and they trade as market makers. This means that they quote buying (bid) and selling (offer) prices simultaneously to clients. Market convention dictates that the clients are obliged to disclose the size of the deal, but not whether they are buyers of sellers. It is up to clients to find the best quotes (exchange rates) by “shopping around”. The retail equivalent of the quote-driven OTC market is the prices quoted by the Bureaux de Change. Order trading in the forex market takes place in a specialised wholesale segment of the market: the domain of the forex brokers. They trade between the forex market makers, i.e. the banks place orders with the brokers and they communicate these (usually via “squawk boxes”) to the other market makers. There are two classes of brokers: the name-give-up brokers (the smaller ones), where settlement takes place between the principals and not between them and the brokers, and the principal brokers (the larger capital-strong ones) where settlement takes place with the broker. It should be noted that although the word principal is used, these brokers do not act as principals in the sense that they deal for own account.
The trading system of the forex market is telephone-screen. Prices are communicated on telecommunications systems such as Reuters, but these are regarded as indication rates. Deals are accomplished by participants telephoning the banks and obtaining buy/sell (bid/offer) quotes from them; the banks always quote these two-way prices / rates, unless a client asks for just “one side”. As noted, it is accepted practice that the banks quote two-way prices to clients based on a disclosed volume of business, but the client has the right to deal on either side of the quote. While the clients of the banks get quotes from them under the telephone-screen trading system, the banks themselves deal internationally on an ATS system. The forex brokers deal in single capacity (order only), while the banks act as market makers (quote) as we have mentioned. However, there are times when the banks accept specific orders (usually from smaller clients); thus, they deal in dual capacity.
Turnover in the foreign exchange markets worldwide is substantial. The countries that are most actively involved in forex dealing are the UK, the US, Japan, Singapore, Germany, France, Australia, Canada, and the Netherlands.
The role of the forex brokers is also substantial. In many countries the market share of the brokers is over 30%.4 The brokers merely communicate deals / quotes available and, given their market penetration, provide a window into the market. They also offer anonymity to the principals (the banks), meaning that the large deals of banks (which could possibly affect prices) are not communicated to the rest of the market. In the market making forex market reciprocity in dealing is “expected”; the forex brokers preclude such expectations from arising.
As you can see that forex market is highly profitable but is filled with risk. One must understand every twist and turn of the forex market to understand it properly. There are, however, alternative options to forex markets. These are as follows:
1. Content writing
2. Blogging
3. Affiliate marketing
4. YouTube
5. Selling photos
6. Other ways
Let us discuss them one by one.
1. Content writing: You see written content every day on the web pages you visit in the form of articles, blog posts, announcements and press releases (event content), technical and other tutorials, guides and descriptions. However, it’s not the same type of writing that you did in school, like compositions, summaries or dictations. Content writing should be unique and creative enough to immerse users in the essence of the texts and to help them embrace the idea, motivate them for the certain action, convince them of something or provoke certain feelings. In this case, you can succeed and earn money online for free.
You can make anywhere from $500 up $2,000+ per month writing content for diverse web resources. The exact amount depends on your skills, type of content and the volume of of articles you produce. The rates for top content writers can range from as low as $15 dollars an hour to as high as $80, though most fall in the $30-50 range. The prices depend on markets, the writer’s location and experience, as well as his/her expertise.
As a rookie, you’ll be looking for a good start. In our digital era, there are plenty of job boards that give good opportunities to beginners. To start, you can use:
1. Upwork
2. Fiverr
3. Freelance writing jobs
You can find short-term tasks or full-time contract work there. Your specialized skills can get you on a cool project team.
Some skills are required to earn money online without paying anything by writing content. Let’s look through some recommendations that would be very helpful for you at an early stage of your new career:
1. Use a task management program (Trello, Google Sheets or others)
2. Use an image editing program and editing apps (Grammarly or Hemingway)
3. Practice writing constantly
4. Create a portfolio
5. Keep track of all your projects
6. Jot down content ideas
Using a job board is not the only way to start your career as a paid content writer (however, it is the fastest and the easiest). You could start a blog that you then can use to showcase your skills. Another approach is to find related communities on social media (Facebook or LinkedIn) to get a job.
You should keep an eye on the quality of your work and continue to gradually improve your writing up to the highest standards. Here are some common recommendations to make your texts more valuable:
1. Form a killer title and first paragraph
2. Keep it simple, sans exaggeration
3. Edit, read, and edit again
4. Deliver value through your content
5. Conclude with a powerful note
6. Pay attention to the critics
To make it easier to get started, and make quick money online for free, you should pick a niche at first. After mastering that niche, then you can try to become a multitasker. Besides, you should learn different writing styles, but finding your own is crucial.
2. Blogging: Plenty of people have their own blogs, but not everybody seeks to gain benefits from them. However, it is possible and profitable. A blog is a site with mostly written content, where the author writes about a certain topic from his/her own perspective. They then go on to correspond with readers to make direct contact. Blogging is a hobby and it’s a good way to share your knowledge with the world. The reader’s’ interest and positive comments are just a bonus, but they can bring in a lot of revenue if you want. While your blog is gaining popularity and the number of subscribers increases, you can add products or services on your blog to sell.
The easier approach is to sell your blog space for ads. You should not need to find advertisers, because your blog will be popular, and they will have already started hunting you. You can join Google AdSense or other contextual advertising networks at the beginning.
Blogging allows you to make money online from home for free, but how much can you get? The payments depend on you as a blogger. Are you independent or are you employed as a blogger for an established company or website? For the last one, the ranges vary from $19,000 to $79,000 a year. Freelancers can get $10,000 or more for just a post.
Your salary will depend on several factors – the frequency of updates, the relevance and quality of your content, the competitiveness in the niche you’ve chosen and the effectiveness of your marketing strategy to build an audience and generate traffic.
Here’s a general guideline for understanding how to create a functional blog that would generate demand and avoid mistakes:
1. Find a good descriptive blog name that is relevant to your topic
2. Choose a great domain name and domain extension (.com, .net, .org, etc.)
3. Employ a blog host and software to get a template
4. Customize your blog (change the design)
5. Write several blog posts
6. Publish the blog
7. Promote the blog to gain traffic and an audience
8. Start monetization
To succeed in blogging, you should be passionate about your topic, but also about your long-term business model. Analyse competitors and take into consideration potential challenges. If you need more tips, visit Travelpayouts for valid information. Interesting content is paramount and helps grow your income. There are two main ways to monetize – take money for ads or sell something. Other ads may not be as profitable as you want. You allow other people to use your traffic. This means that you may earn money on an ad, but it may not resonate with your audience and cause dissatisfaction. However, such an approach does not demand much of your time and effort, so you can take this route if you don’t care about your “personal space.”
If you are selling a physical or digital product, you should know for sure that your readers need it. Then, you should get your leads’ contact information in exchange for a valid giveaway. You can make a sidebar opt-in box on your site, as well as a popup to encourage users enter their email to win the giveaway.
3. Affiliate marketing: If you want to make money online with no money to start, you can join affiliate marketing and become an affiliate. That means you direct your site/blog visitors to the product and get commissions for purchases they make. In this case, you can combine blogging and affiliate marketing to get more revenue. You can trash the blog and use affiliate arbitrage to resell traffic via PPC. For this purpose, you should know more about making money without a website.
Affiliate rewards usually start at 1% and can reach 10% or even more. The percentage depends on the company’s policy. Additionally, you can get extra promotions and privileges. Note that you do not get money for clicks, but for real purchases. Moreover, if you get $500 today, it does not mean you’ll earn the same amount tomorrow. Affiliates are divided into levels according to their income. Low-level affiliates usually earn up to $100/day. The affiliates at the highest level manage to earn a profit of more $10,000/day.
First, you should find an appropriate affiliate program, taking into consideration the program’s terms and conditions, along with your own preferences. To choose a niche you already like is much better than to start from scratch. You should select an evergreen niche like traveling. You don’t need pay anything to earn via travel, just follow the steps:
1. Join Travelpayouts
2. Get your personal affiliate link to flight tickets, hotels, or other travel services
3. Share this link on your blog or even with your friends
You will be rewarded for each purchase that was made through your affiliate link. After you make your first profit, you can re-invest it to create a blog or continue to develop your current project.
Set up your own blog or website and fill it with content related to the product you promote. Then, start development by using relevant keywords – this is not a fast way to make money, but it’s a good way to build your own source of steady income.
Content can be diverse – product reviews for individual products, comparisons, information-based articles, guides, etc. You should use an appropriate set of marketing tools to gain more traffic – PPC, email marketing or SMM, for example.
Affiliate marketing is not rocket science, but you should acquire some knowledge first, though. Your goal will always be traffic generation to direct users to the merchant’s resource through your affiliate link.
You should care about both free and paid traffic. Utilizing social media marketing is very helpful for getting traffic. Doing videos on social networks is extremely effective today. Don’t forget to use anchor links in order to make them short, friendly and attractive users.
Another crucial skill is copywriting. Note that only a few affiliate programs provide you with ready posts. You will need to prepare articles yourself or hire someone.
4. YouTube: It is possible to make money online with YouTube without having millions of subscribers. You can create your channel with a great earning potential depending on the niche you’ve chosen and the level of engagement that you create. If you already have your own blog and a strong subscriber base, you can start making money quickly. You can also earn via video ads, sponsorships and crowdsourcing. Nobody can say exactly how much you’ll earn, because of many factors influence the result – CPM (cost per million), views, CPC (cost per click), watch time, CTR (click through rate), user retention, traffic source, traffic region and video category all play a role. You only start earning money after 4,000 watch hours for the previous year, plus 1,000 subscribers.
You can forecast your result using the YouTube Money Calculator that was developed to calculate the estimated income from your videos or channel. The calculations are based on the factors listed above. For example, if your daily video views equal 20,000 views/day, you can get from $28.50 up to $47.50 dollars a day.
First, build your channel and then add keywords in the settings to allow people to see your channel in the YouTube SERP according to their requirements. The second step is to add high-quality, yet brief content. Note that uploads must be on a regular schedule and you should track the results of each one.
Your next task is to build an audience to increase monetization and that starts with allowing YouTube to place ads in your videos. Then, you should set up Google AdSense to let the service send you money per click or per view.
To grow as a YouTuber and to improve your content, you should always check your analytics to see how your strategy is performing. Here are some additional tips:
1. Do not use YouTube exclusively for placing videos. Share them wherever possible – social media sites, blogs, etc
2. Join YouTube as a partner to get access to more content creation tools
3. Use services to create free quizzes and polls to encourage people to answer your questions. In this case, you get paid for visitors and you get audience feedback at the same time
4. Improve your content by using various high-quality equipment like software, cameras, tripods, etc
5. Make eye-catching descriptions
Do not view your subscribers as traffic. They are real people and that’s why you should always try to respond to them. Answer their questions and discuss their comments. Your loyalty and readiness for communication is an effective tool to build an audience.
5. Sell Photos: If your main goal is to earn money online without investing, and you are a creative person at the same time, you can earn revenue through stock photography. Stock photos are licensed pictures used by businesses, web-designers, marketing agencies and media companies. How do they work? You take photos and then sell them to global companies like Shutterstock or Fotolia.
There are many of stock photography websites. First, you should sign up on the stock photography website you decide to go with. One of the most popular ones is Shutterstock. Here are some simple steps to get started:
1. Sign up on the website
2. Download high-quality images
3. Upload content with their platform to get tips for success
4. Earn a fee every time your image is downloaded
Note that you will need an account at submit.shutterstock.com. You will have to provide personal information and verify your email. You can provide some photos, illustrations, or videos for your debuted submission debut.
Choose a single topic to sell more – business, everyday life, medical or education, for example. Take everything that happens every day into consideration to help catch a moment and make your photo extremely natural. You should always look at what is happening on TV and in normal life. You can draw graphics as well, with the aid of drawing tablets (they make digital art easier and faster).
Most of the large stocks want you to shoot authentic people and things that inspire you. At the same time, some contributors track hits and competitor sales and want similar photos. Therefore, to become an expert you should focus on both your own preferences and the company’s policy.
6. Other Way:
1. Client work through digital marketing to sell websites and other tools for promotion online. For example, you can create logos or business cards if you are a designer. If you are keen on copywriting and SEO, you can fill websites with relevant content.
2. Complete small surveys providing your feedback and opinions which can earn from $1 up to $20 per one survey.
3. Join a PTC websites to click and read the apps. It takes just up to 30 seconds to view one ad and be paid for it.
4. You can become a captcha solver who reads captcha images and types the related symbols. It only takes two hours a day and lets you put $2 for every thousand captchas in your pocket.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath
