Remittance is the transfer of money from one point to another; a transaction usually made by foreign workers and immigrants to send money to their home country. Money remittances serve as one of the largest types of financial transactions in the world, with remittances to developing countries reaching £83.9 billion in 2005, and close to £125.6 billion in 2006. This figure is more than twice the amount of international aid.
Remittances are considered a lifeline for people in developing countries. With the relative strength of currencies from developed countries, the money sent regularly to homes could be much more compared to the average salary in developing countries.
The increasing role of remittances in families' incomes is starting to play a role in national development policies. Since one needs to open a bank account to receive remittances, governments can leverage remittances to promote economic development.
For example, the strength of the Philippine Peso and the Indian Rupee is based on the volume of foreign currency sent. The large amount of foreign currency that is transferred to these countries helps moderate local currencies. In South America, remittances account for almost 10% of the GDP in six Latin American and Caribbean countries.
An increase in money remittances is a symbol of a globalised economy, as more migrant workers from developing countries travel to the developed world to work in various jobs where domestic manpower is not available. Remittances are also valuable sources of domestic investment to aid economic goals.
Remittances can also be a crucial source for supplemental income during natural disasters and calamities. Money transfer services are also employed by non-government organizations and charitable institutions, so they can effectively mobilize their programs during a crisis.
Various remittance agents and money service providers facilitate money sent from one country to another. In India, cash2india.com or Xoom.com handles online-to-offline money remittance. With their online facility, you can transfer money from the UK to be picked up or delivered to the receiver in India. The global leader in money transfer services is W Union. With their long history in this industry, you can find a W Union branch almost anywhere on the globe.
Popular online facilities are also used for remittances. The easiest way to transfer money to india is Paypal, the largest and most widely used online money transfer in the world. A leading alternative to Paypal widely used in UK and the rest of Europe is Moneybookers. More and more international and local money transfer services facilitate remittances from UK to all parts of the world. The cost of money transfer varies depending on the type of service and the geographic cover of operations.
The top remittance countries in the world are mostly from Asia. In the period between 2006 and 2007, £13.5 billion worth of remittances were sent to India, followed by China with £11.3 billion. Third on the list is Mexico followed by France and the Philippines. Remittances will continue to come from UK, US, and the rest of the developed countries to these developing economies.
Article Source: Transfer Money from UK
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How to Send Money Abroad From the UK
What PayPal Doesn't Want You to Know About Their Protection Program
Online shopping has never been so popular. These days, more and more people are using online marketplaces such as eBay to shop for their needs. Buying online is not only convenient, but it empowers buyers. They can use comparison engines such as Froogle and PriceGrabber to get the best prices and save money in the process. And best of all, you don't have to physically present in a store to be able to buy things.
PayPal has been around for such a long time, and it makes it so easy to pay for things online. Anyone who has used eBay in the past few years has probably used PayPal to pay for items on eBay. PayPal is so popular that more online stores are adding PayPal as a payment option. After all, not only it's convenient, but also it's a very secure option for both sellers and buyers. Or is it?
PayPal promises a lot to both sellers and buyers. Most people use PayPal as they find it to be secure and easy-to-use. However, hackers have managed to access numerous PayPal accounts in the past, and that problem is only getting worse. Hackers access people's accounts by sending them fraudulent e-mails to gain access to their account information. Unfortunately, there is so much PayPal can do to avoid this issue. So it is essential for the consumers to go to PayPal by clicking on any email link.
PayPal offers protection to both buyers and sellers against fraudulent activity. PayPal's seller protection program protects sellers against unjustified chargebacks and reversals. But the protection is not foolproof, as sellers are not protected against "Significantly Not As Described" claims.
Buyers are also not fully protected by PayPal's buyers protection program. While you can dispute transactions that you have done via PayPal, it does not protect you against items that you have bought on other marketplaces than eBay. In addition, the complaint process is very time-consuming, and there are many loopholes that PayPal can use to reject you complaint. Worst of all, PayPal does not cover non-physical products. That means if you purchase a website on a marketplace such as SitePoint, PayPal will not protect your purchase against fraud.
In most cases, it is better to only add credit card accounts with $0 fraud liability to your PayPal account. That way you can dispute your transactions with your credit card company regardless of PayPal's decision. PayPal is a wonderful service that helps millions of shoppers has a rich online shopping experience on a daily basis. However, the protection provided to buyers is not nearly enough. By using a PayPal credit card account that protects you against fraud, you can shop online more freely, knowing that your transaction is protected regardless of the loopholes available in PayPal's protection program.
Article Source: credit tricks
Day Forex Signal Strategy Trading
Day forex signal strategy trading is different from swing trading strategy in frequency of trade signals, depth of stop-loss, and profit-taking levels. Forex day trading is meant for active traders.
But traders who hold positions overnight or even for several days may consider the swing trade signals. There are many traders who prefer a hybrid trading strategy to take advantage of short-term and long-term trading opportunities simultaneously.
For forex day signal strategy trading, stop-loss levels range between 15-25 pips with profit-taking levels at 25-45 pips. Signals are generated on the basis of knowledge of experienced traders and institutional research.
Day forex signal strategy trading is an ideal solution for those who do not have the time or experience to analyze the market effectively or for experienced traders in making informed trading decisions. Day forex signal strategy trading systems also offers excellent risk management measures.
Using a day forex signal strategy trading platform, you can create your own trading signals during any of trading period. All you will have to do is to fill some data in a grid and the software will automatically calculate the entry signals.
These software use advanced non-linear computing algorithm to generate signals for forex day trading. Signals are generally updated periodically for all the major currency pairs like EUR/USD, USD/JPY, USD/CHF, GBP/USD, and USD/CAD in real-time and allows you to stay ahead of the market.
Day forex signal strategy trading needs real-time market analysis indicators. The signals are therefore supported with integrated trend, volatility and sentiment gauges. With proper indicators, you can identify when a pair may be toward the top or bottom of a range.
For example, if a pair is highly overbought or oversold and the trend is weak, there may be an opportunity for an aggressive range or reversal play. If a pair displays a strong bullish trend, a day forex signal strategy trading can identify dips for an optimal entry point.
Volatility is another strong statistical measure of the tendency of a market or pair to rise or fall sharply within a short period. A day forex signal can use it in conjunction with other variables to determine strength of price action and to effectively manage market risk. In other words the trader can instantly assess how fast or uncertain the market is moving.
Day forex signal strategy trading systems generate alerts via email, SMS, AIM, ICQ, etc. You can receive notifications for new signals, updates on the status of existing signals. On an average you can receive 4-6 signals per day which comes with easy-to-use graphical interfaces.
Day forex signal strategy trading is to help you in buying or selling decisions. But you must keep in mind that no trading signals can be 100% accurate and all trading strategies contain losses. Therefore it is important that your gains are greater than your losses. Be sure to set the stop-loss to the entry price. Ultimately, experience is the determining factor for your success.
Forex Signal Service Providers
Forex signal service provides price action that set off market entry, exit, or any other intra-trade adjustment on the basis of technical indicators. Forex signal service providers are either brokers or professional traders or some market analysts.
It is always advisable to subscribe to one of such forex signal services, as you need not to spend time in monitoring the market round the clock. Forex trading signal providers help you in minimizing risks or losses in trading. But it is important that you understand the logic behind the signals. Then only you will be able to take the complete advantage of such signaling services.
There are forex signal service providers who offer their assistance in return of a small subscription. Many automated forex trading platform however offer free signal services to their customers. The purpose of the forex trading signals is to make informed decision for the trading. A mix and match of various signals provides a full proof trading strategy to gauge the right direction of the market.
The Forex signals service providers analyze several factors responsible for the movement of the market. The signals indicate the buying and selling time of the different currencies which are traded in the forex market. The signals are calculated and generated by using different indicators such as trends, moving average, Elliott waves, Bollinger bands, Fibonacci series, etc.
Forex signal service providers send you alerts when the conditions are right for the trade. They use cutting-edge technology based software, which constantly monitor all major currency pairs for generating technical indicators.
These forex signal service providers use historical data to match current chart patterns with old ones. Therefore you can judge the quality of service of the forex signal service providers by judging their past performances. The forex signal service providers must have proven track records of recommendations, which turned out to be true.
Some forex signal service providers specifically generate services for advanced or experienced traders and others are for new or intermediate investors and traders. To take the full advantage of the forex signal service, you should have a basic knowledge of the forex market.
Time frame for which the forex trading signals are generated is equally important. Few trading signals can be valid only for a few minutes or an hour; others may have recommendations that are valid for a day or more. If the forex trading signal providers generate signals for shorter time frame, you need to monitor the market frequently.
Some forex signal service providers offer add-on services like email or mobile alerts. The service provider should have end-to-end technical support for the customers. Some other factors, which you need to check before choosing a forex signal service provider are
Spread: Some forex signals providers do not include spread in their recommendations, which affects the performance of the trading system negatively. So find out the average number of positions performed per month on all currencies to guess the real profit.
Back testing results: Some forex signals providers may display only back testing result of their system performance that may show positive result. But this does ensure that the system will run in real time with same efficiency
Forex Trading Machines
Forex trading presents a real opportunity to achieve huge financial profits. All that you need is to tread in the market sensibly and use the tools available. Forex trading machine is one such tool. They are automated trading platforms through which you can trade into the market without having in-depth knowledge on forex.
Day by day, forex trading is becoming the most popular alternative career for people from every walk of life. Forex trading machines or the automated trading platforms are making life easier for them. To them it is the dream machine to trade forex that helps them to take each and every decision for their trading.
For veteran traders, forex trading machines are a place for experimenting different trading strategies. According to seasoned forex traders price driven forex trading or PDFT is one such strategy that works like a forex trading machine, churning out profits from every trade.
PDFT is a method free of technical indicators or any other trading tool. Therefore, according to experienced traders, this system works like a forex trading machine which is perfectly mechanical. Anyone will be able to trade following simple instructions given by the automated system.
But this exceedingly powerful forex trading machine can be exploited to its fullest potential with little innovation and understanding. If you learn the tricks of the trade, you will be able to use the ‘machine’ even better. You must try to learn the essential basics of the forex trade before you actually start the trading.
An e-book by Avi Frister titled “Forex Trading Machine” introduces the readers to the forex market without bothering them with technical and fundamental indicators. The book is easy to understand and use. “Forex Trading Machine” will not teach you pivots, chart patterns, MA's or other techniques that demands your experience or judgment.
Instead, it focuses on strict entry and exit rules on basis of price action that eliminates subjectivity from trading. The author claims that after going through the steps, you would be able to trade like a ‘robot’ with guaranteed profits.
Introductory chapters of “Forex Trading Machine” informs the reader about basics of the forex including explanation of currency quotes, pips, margins, daily ranges, technical and fundamental analysis etc. The book also describes how one can develop a disciplined trading strategy, control over emotion like fear and greed, watch the market for assessing the trends etc.
The book “Forex Trading Machine” outlines specific strategies following which you can develop a disciplined trading practice. These strategies are supported with risk management measures, which prevent you from incurring losses.
The main Forex trading strategy described in the book is ‘Cash Cow’ which is perfect for a person who does not have time to analyze the forex market and forex charts or to sit in front of the terminal throughout the trading hours. Advanced traders, who are capable of employing more than one strategies will be immensely helped with the book in understanding technical or fundamental indicators.
