August 2021 – Zanzibar Treasures Marketplace

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Retd Govt Officer Lands In Web Of Trading Fraud, Loses 2 5cr Noida News

August 24, 2021 0 Comments, on Cryptocurrency service, by dummy_store_1

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is lexatrade legal in india

It offers signals and pattern recognition and is generally regarded as a reliable tool but of course there are no guarantees that it will be profitable. The minimum deposit is $250 and the available methods are Visa, CryptoWallet and e-Payouts; the processing time is not specified. Information about withdrawals is missing and this should is lexatrade legal in india be addressed by LexaTrade. All we could find is that withdrawal processing takes up to 24 business hours and that a representative will contact the client in order to complete the processing of the withdrawal. Forex trading is legal in India, and Indian residents can engage in currency trading, but they must adhere to the specific terms and regulations set by the authorities.

Once you have identified that, it will be much easier to take decisions in a dynamic manner in line with market movements. Once you begin trading, like every other investment, it is necessary to take informed decisions and wise choices. Finally, you will need to request the necessary access credentials that your broker will be able to provide you with. It is registered in Saint Vincent and the Grenadines (A small country in the Caribbean), a kingdom of thousands of shell companies. At a glance, it seems amazing platform and opportunity to earn trading profit with LexaTrade experts.

Is Lexatrade a legal broker?

As per the whois data, the domain Lexatrade.com was registered in September 2018, and according to similar web data it has around 13k monthly traffic from Kenya (60%) and India (26%). Her 15-year business and finance journalism stint has led her to report, write, edit and lead teams covering public investing, private investing and personal investing both in India and overseas. She has previously worked at CNBC-TV18, Thomson Reuters, The Economic Times and Entrepreneur. When investing in a fixed deposit, the amount you deposit earns interest as per the prevailing… This financial tool allows one to resolve their queries related to Public Provident Fund account. Unfortunately LexaTrade doesn’t offer a lot of information about withdrawals but according to the website, a representative will contact you to complete the processing, which takes up to 24 working hours.

An entity not appearing in the Alert List should not be assumed to be authorised by the RBI to deal in foreign exchange or operate electronic trading platforms for forex transactions. The authorisation status of any person/ETP can be ascertained from the list of authorised persons and authorised ETPs available in the RBI’s website,” RBI said. While you cannot directly trade in the foreign exchange market, you can still trade in currencies through the stock exchange.

There are some tips listed below that could help you if you have just begun investing with foreign exchange trading platforms. The trades are settled by cash, since it involves simultaneous buying and selling of currencies. While this is a feature wherein currency trading differs from trading in stocks or other instruments, another major difference is that you don’t require opening a DEMAT account to trade in currencies. It’s crucial for traders to be aware that the RBI keeps a vigilant eye on unauthorized Forex trading platforms. Engaging with these platforms could result in legal complications or exposure to fraud and scams.

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This does seem like a friendly broker, but I am not sure it’s the best choice for a total beginner, simply because the lowest deposit to open an account is $250. Many regulated brokers allow $50 and even $10 as minimum deposits, so maybe you should pick one of those. On the other hand, if you are confident in your abilities and $250 is not a lot for you, then LexaTrade may be a good choice. No, forex trading in India is not illegal, as long as it’s with a SEBI-registered broker. While participating in forex trading in India, knowing these tips may help you reap successful returns that help you meet your investment goals comfortably.

How can I legally start Forex trading in India?

All early signs show that LexaTrade is not a scam but keep in mind this is a very new CFD broker. The general online opinion is favourable and this is always a good thing because as soon as something goes terribly wrong with a broker, people flock to online forums, chat rooms, and social media to bash the said broker. This is not the case with LexaTrade and thus far we consider this CFD broker a reliable partner for your trading needs. For instance, the base currency being traded upon has to be the Indian Rupee (INR). There are only 4 currencies that can be paired with the INR and these include the US Dollar (USD), Euro (EUR), Great Britain Pound (GBP), and Japanese Yen (JPY).

LexaTrade provides access to popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and more.
Lexatrade charges a spread on trades, which is the difference between the buy and sell price of a financial instrument.
For instance, while trying to meet long-term goals, you can adopt a more conservative approach than if you are trying to meet short-term goals, for which you need to be able to generate returns quickly.
The Swiss franc, the Canadian dollar, and the Chinese yuan are also among the top ten most traded currencies, while the Swedish krona and the New Zealand dollar are the least traded currencies in the table.
To trade forex successfully in India, you need to choose a regulated and reliable broker that offers you access to a variety of currency pairs, platforms, tools, and services.

Determining the best forex trading company in India can be subjective, but Saxo Bank is often considered a top choice due to its wide range of currency pairs. Fusion Markets is known for offering low commissions, while IC Markets boasts low FX commissions and tight spreads. Global Prime is favored for its low forex fees, and Tickmill offers low FX commissions and tight spreads. Forex trading in India is a lucrative and exciting activity that can offer many benefits for traders who are willing to learn and master it. However, forex trading also involves significant risks that require careful management and mitigation.

is lexatrade legal in india

Risks Associated With Forex Trading in India

However, they can still trade in foreign currency derivatives on SEBI- and RBI-approved platforms or brokers via centralized stock exchanges, such as the Bombay Stock Exchange (BSE) or the National Stock Exchange (NSE). Called as foreign exchange (forex) trading, currency trading occurs on foreign exchange markets. Forex trading is most often conducted over a foreign exchange trading platform, wherein an individual trader bets on whether a certain currency will rise or fall against the domestic currency. LexaTrade is a financial trading platform that offers a range of financial instruments for traders to choose from, including contracts for difference (CFDs), foreign exchange (FX), and cryptocurrencies. Even though Indian regulations state that currency trading cannot be for speculative purposes, SEBI-registered brokers have provided services for speculative trading for some years. Indian traders responded through a broker’s association to push for a reconsideration of RBI’s non-speculative rule.

Knowing your market and instrument is important to be able to successfully navigate the trading landscape, which is why it is important to remain updated on happenings in the world that might affect currency movements. Conduct thorough research and analysis to assess the different investment strategies that traders have successfully employed to gain high returns in currency trading. It also helps to compare the different strategies and construct your own personalised strategy that is able to align with your own goals and requirements.

That being said, caution should be used anytime money is involved, with all brokers, old or new. On the other hand, the majority of traders don’t need Expert Advisors, scripts and the (sometimes) stuffy interface of Meta Trader. Besides, LexaTrade’s Web platform offers all the tools that can turn a skilled trader into a profitable trader. And besides, if you really want to do advanced technical analysis, LexaTrade offers Meta Trader 4 so you can have the best of both worlds. The alternative to speculative trading is hedging risk for an underlying holding. For example, if a business is exporting goods to the UK, it might open a GBP/INR trade to lock in the exchange rate for the export value.

How to Perform a Cash Reconciliation: A Step-By-Step Guide for Accountants

August 6, 2021 0 Comments, on Bookkeeping, by dummy_store_1

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cash reconciliation

Consistency in this process is key to early detection of errors and ensuring that your financial records always reflect the true state of your finances. Petty cash reconciliation and cash reconciliation are related but distinct processes within the broader scope of financial management. Mid-sized businesses often deal with a higher volume of transactions and might use specialised software to track cash flow, making reconciliation a more complex but equally vital task. Imagine having a financial guardian angel that ensures every penny in your business is right where it should be. That’s cash reconciliation for you – not a tedious task, but a powerful ally keeping your business safe from those sneaky financial discrepancies that can lead to trouble. The function of account reconciliation is typically carried out by accountants or finance professionals within an organisation.

As part of your financial close process, you’ll need to record every transaction that occurred in your general ledger. This way, you can ensure that your financial statements will be correct and up-to-date. Petty cash reconciliation should be performed at regular intervals to help keep track of the petty cash. Under this method of reconciliation of cash, the business compares the cash usage and inflow with the previous period. This method may not be as reliable in the reconciliation of short-term cash transactions as it compares the data of the present period to a previous one. Generally, there are two major ways of conducting cash reconciliation in any business.

Beyond: How Vistair are modernising their finance function with Pleo

When producing annual accounts, it is vital to reconcile accounts regularly, at least at year-end. Before you start, ensure you have all the relevant documentation to hand in for the reconciliation process; you will need credit card statements, bank statements or supplier statements. If you’re a small business owner, reconciling your bank accounts is vital to keeping accurate records and ensuring that your books are balanced. By matching your bank statement with your internal bookkeeping, you can spot any discrepancies and correct them accordingly. The process of account reconciliation provides businesses with the opportunity to notify the bank (or other external source of statements) of errors and have them corrected. This is critical because any discrepancies left unaddressed could distort a company’s understanding of its financial health.

This ensures the business that it gets the true cash position within the organization. To help with bank statement reconciliation, we also created a free Excel template for download for bank statements and cash accounts. You will need to complete a reconciliation for each credit card you have for the business. It is so that you can check that the transactions on the credit card statement match the transactions in the accounting system. The size of your business will depend on the number of reconciliations you will need to complete.

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The charges have already been recorded by the bank, but the company does not know about them until the bank statement has been received. It is possible to have certain transactions that have been recorded http://www.chinzadopeness.com/2020/01/ as paid in the internal cash register but that do not appear as paid in the bank statement. An example of such a transaction is a check that has been issued but has yet to be cleared by the bank.

You can figure out if there is any cash theft and also hold the person who is indulged in the fraud, accountable.
The IVP Reconciliation Solution also provides a transparent view of data so fund managers can see exactly where and how breaks happen.
You’ll no longer require any manual work when it comes to matching statements to the ledger.
Keeping cash accounts accurate and eliminating bookkeeping errors is much easier with cash reconciliation.
It aids in informed decision-making, ensures compliance with financial regulations, and significantly contributes to the overall financial success of your organisation.

When it comes to the financial soundness of any business, the managers and senior-level executives have to take care of a lot of factors. Different businesses and managers have different sayings about the subject. Thus, petty http://www.anwiza.com/content/view/53/10/ is the process of assessing petty cash payments and making sure that company records are up to date. This process covers the matching of the closing balances per account on an entity’s books that make up the overall balance sheet. It ensures the closing balances are classified and submitted correctly so the final balance sheet’s accuracy can be confirmed via an auditable lookback. An intercompany – or intergroup – reconciliation is the validation of the parent entity general ledger with its subsidiaries.

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Account reconciliation is an important process for any business; it is the process of checking account balances in the records to other sources. It ensures that the financial account balances are accurate and up-to-date. Once you have found the errors in the reconciliation, you need to make the adjustments http://vysotskiy-lit.ru/words/1-%D0%9A%D0%9E%D0%A1%D0%9C%D0%9E%D0%A1/vysotskiy/kosmos.htm to ensure that they balance. There might be several different adjustments, but they usually involve adding missing transactions like supplier invoices, cash receipts or an adjusting journal entry. The accounts receivable reconciliation is between the customer ledger and the customer account statements.

cash reconciliation

You can also plan the cash flow budget by viewing the worksheet of your petty cash. Download this template to get the structure to structure for the worksheet. Position reconciliation is the process of confirming that an asset manager holds the same number of securities that a custodian, broker, or other counterparty says the asset manager holds. The process entails matching position balances from two or more sources, typically the custodian or broker record and the asset manager’s internal system. Position reconciliation is also known as holding positions or holding the balance.

Petty Cash Fund Reconciliation Form in PDF

And you can’t replace petty cash with corporate cards for the simple reason that not every employee has one. Because they’re seen as risky, and they’re too expensive to only use occasionally. The main challenges of the reconciliation process are related to its complex, time-consuming and tedious nature.

How to Buy BitcoinBTC

August 2, 2021 0 Comments, on Cryptocurrency exchange, by dummy_store_1

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how to buy bitcoin

However, great profits often come with great risks, and you must exert proper risk management to reduce the risks of losses in the volatile crypto market. Bitcoin’s value can fluctuate rapidly due to the volatile nature of the cryptocurrency market. Bitcoin’s price is influenced by various factors, including market demand, investor sentiment, regulatory news, and broader economic conditions.

The cryptocurrency can sound overwhelming to understand, but in actuality, it is quite simple. Bitcoin was invented in 2008 by an anonymous entity by the name of Satoshi Nakamoto and changed the financial market as we know it. It was created as a response to the global financial crisis at the time, allowing the people to have more control over their money. If you want to learn more about purchasing bitcoin in the United States, read about how River’s bitcoin brokerage services are tailored to suit bitcoin investment needs for the long term. Bitcoin ATMs provide a way to purchase bitcoin at a physical kiosk, often located in a gas station or grocery store. Bitcoin ATMs often require you to scan an ID to fulfill compliance obligations.

Buying Bitcoin

For interest, after purchasing BTC you can store the coins in the integrated wallet provided, or use the funds to buy goods and services or send to friends. If you want to broaden your investment portfolio with a digital currency, Bitcoin is the first and biggest market in the space. There is a possibility of risk in investing in crypto assets as investors are exposed to fluctuations in the crypto market. If you are concerned about Bitcoin being a speculative asset speak to your financial advisor about whether this is a good fit for you. A lot of beginners wonder how to get Bitcoin for free or how do you buy Bitcoin for less.Reality is, there are no legitimate ways to get Bitcoin for free. Not only will you be able to buy Bitcoin online with credit card, but also store it hassle-free in the Paybis wallet.

Investing in Crypto 101: A Beginner’s Guide

This guide will walk you through the steps you need to follow, from choosing the right platform to understanding how to store your Bitcoin safely. Buying Bitcoin can seem overwhelming at first, but it is easier than you might think. With the rise of digital currencies, many people want to know how to buy Bitcoin and invest in this exciting market. Hot wallet holders who haven’t created enough security run the risk of losing funds to theft.

How to buy bitcoin & other cryptocurrencies: A step-by-step guide

The most popular and straightforward option is purchasing Bitcoin and holding onto it. By doing so, you stand to profit as long as the BTC value continues to rise. However, it’s important to note that there is a potential risk of losses if the market experiences a crash.

When there are more people buying Bitcoin, the value will increase.
The interface of centralized exchanges like CEX.IO keeps things simple and minimalistic while incorporating a host of functionality.
To better understand its true value in the marketplace, we must look to its latest movements.
By combining blockchain technology and mining, Bitcoin operates without needing a central authority, making it a decentralized currency.
The machine will process the transaction, which may take several minutes to complete due to the Bitcoin network’s congestion.

Centralized exchanges (CEXs) like Binance, Coinbase, OKX, KuCoin, Bybit, and Kraken are popular choices for purchasing Bitcoin. The frequency options include daily, weekly, biweekly, or monthly purchases. If you’re not looking for a recurring purchase, it will default to introducing broker ib what is it vs clearing broker how to be a one-time buy. When you’re ready to buy, you’ll need to figure out how much Bitcoin you want. You do not have to buy an entire Bitcoin; you can purchase parts of one. For example, you can choose to buy $100 worth of Bitcoin, regardless of how many Bitcoins you receive.

To pay for your Bitcoin, you can use Paypal, credit cards, cash (sometimes), bank transfers or debit cards. Yes, with the Tap app, it is just as simple to sell the cryptocurrency as it is to buy Bitcoin. Simply go into your Bitcoin wallet and select the Sell option. Tap is an online platform that allows anyone to buy Bitcoin using a bank account (via bank transfers) or debit card. The BTC is then stored in your individual cryptocurrency wallet on the app. Gain access to the world of cryptocurrency with a fast and safe platform to buy, sell, spend, and store your digital assets.

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Compare offers and buy crypto instantly

You can process payments candlestick patterns for day trading interpretation bitcoin guides and invoices by yourself or you can use merchant services and deposit money in your local currency or bitcoins. Most point of sales businesses use a tablet or a mobile phone to let customers pay with their mobile phones. Free bitcoin wallets are available for all major operating systems and devices to serve a variety of your needs.

Before buying bitcoin, be sure to check out the legal, regulatory, and tax status of purchasing it where you live. The history of transactions made on the blockchain is transparent, but identifying user information isn’t. On the Bitcoin blockchain, only a user’s public key appears next to a transaction, making transactions confidential but not buy ethereum in stock anonymous. Whether you own 1 bitcoin, 15 bitcoins, or 0.01 bitcoin, you’re equally exposed to the cryptocurrency’s ups and downs. Some other cryptocurrencies, such as Ethereum, are used to carry out more complex transactions. Some, such as Dogecoin, were created as jokes but have attracted investor interest anyway.

Online trading platforms like Robinhood, for example, allow people to invest in Bitcoin, but they do not go as far as to let investors own Bitcoin (or its respective keys). Whereas Coinbase grants investors the “keys” to their own Bitcoin holdings so that they may transfer the assets to their own wallets, Robinhood does not. As a result, investing in Bitcoin on Coinbase will allow investors to own the asset and treat it like a currency.