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TRADE ONLINE
WITH BITSPOT TRADE
The world economy is constantly undergoing changes Traders are
the only ones who profit form these changes
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Meta Trade 4 is one of the most trusted and popular tradnig platform and the
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ACCOUNT TYPES PAGE
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Swap Free Account Page
Swap-Free accounts are suited for long-term trading strategies as they let traders avoid losses
when transferring positions through midnight.
SWAP-FREE ACCOUNTS FEATURE:
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Swap-free, meaning your position can stay open without charges when transferring to the
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No hidden charges
Dedicated account manager, with years of experience in financial markets
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Platforms Page
We are with you wherever you trade
Choose Your Platform

Bitspotrade provideS you completrly secured trading platforms that are carefully
designed to facilitate you a practical, powerfull and efficient trading experience. All Our
platforms are multilingual trading platform that gives you 24/7 secure access to your
account from your preferred platform – Web, Mobile or Downloaded one!!
Trade On the GO
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Fast Execution
Execute multiple order types
High reliability and safety
Bitspo Trade Web
Bitspo Trade MT4
Bitspo Trade Mobile App
Trading Page
Products
What would you like to trade?
Forex
Technological advances have increased the size of the foreign exchange market, which has
now exceeded $4 trillion of average turnovers per day.
Indices
At BitspoTrade, you can trade in a variety of global indices which are collections of the
largest as well as the most widely traded stocks.
Commodities
All commodity trading from metals, energy and agricultural products are influenced by
political, economic and environmental factors.
Stocks
If your expertise lies in trading the wide variety of stocks available in the financial markets
worldwide, then BitspoTrade offers CFD trading in a vast selection of individual stocks
from around the world.
Metals
Trading precious metals is one of the most popular ways of diversifying your portfolio.
Trade spot gold and spot silver prices against the US Dollar and other major currencies
with a global broker today
Forex Page

bitspotrade offer its traders a secure, cutting-edge and intuitive trading platform that provides a
lucrative trading opportunity in Forex. Trading in Forex or foreign exchange enables traders to
enter a platform that allows one to buy and sell global currencies. With more than US$4 trillion in
daily trades, the Forex market is the largest in the world. Forex is essentially a liquid market of
currency pairs that react to global news, events and economic policies.

Whether you are new to the online trading world or a seasoned professional, the customer
service and execution provided by your broker is key to your success in the Forex trading market.
With our understanding of the role we play in your trading effectiveness and success, bitspotrade
offers reliable and superior customer support and service. Our team of dedicated professionals is
available at any time to assist you each step of the way.

We currently offer close to 65 currency pairs which of course including the most popular major
currencies but also more exotic crosses. This while offering the most accurate quotes found
across the Forex market. In order to provide our traders with choice and flexibility, you will also
be able to access a wide selection of additional currency pairs. To enable you to increase your
profits, bitspotrade does not charge commissions or other fees beyond the minimum spreads for
each currency pair.

With the perfect combination of outstanding liquidity, low costs and top profit potential, Forex
trading is the way to go. To boost your trading accuracy and effectiveness, bitspotrade will
provide you with access to a state-of-the-art trading platform, powerful charting options, social
trading and much more. With our all-inclusive trading offer, bitspotrade enables our traders to
take full advantage of the profit potential within the Forex trading arena.

You too could be a part of the exciting world of Forex trading within minutes. Our registration
process is free of charge and straightforward, so if you are ready to start earning today, Open a
Real Trading Account Now.

Currency Pairs at bitspotrade

Euro vs United States dollar

United States dollar vs Japanese yen
Pound sterling vs United States dollar
Euro vs Japanese yen
Australian dollar vs United States dollar
United States dollar vs Swiss franc
Euro vs Swiss franc
Euro vs Pound sterling
United States dollar vs Canadian dollar
New Zealand dollar vs United States dollar
Australian dollar vs Japanese yen
Swiss franc vs Japanese yen
Pound sterling vs Swiss franc
United states dollar vs Hong kong dollar
Canadian dollar vs Japanese yen
Pound sterling vs Japanese yen
New Zealand vs Japanese yen
Canadian dollar vs Swiss franc
Euro vs Australian dollar
United States dollar vs Singapore dollar
Australian dollar vs Canadian dollar
Australian dollar vs Swiss franc
Euro vs Canadian dollar
New Zealand dollar vs Canadian Dollar
New Zealand dollar vs Swiss franc
Pound sterling vs Australian dollar
Pound sterling vs Canadian dollar
Australian dollar vs New Zealand dollar
Euro vs Danish Krona
Euro vs New Zealand dollar
Unitade States dollar vs Danish Krona
United States dollar vs Turkish lira
Pound sterling vs New Zealand dollar
Euro vs Turkish lira
Euro vs Norwegian Krona
United States dollar vs Polish Zloty
Euro vs Polish Zloty
Euro vs Swedish krona
United States dollar vs Norwegian Krona
United States dollar vs Swedish Krona
United States dollar vs Israeli shekel
Euro vs Hungarian Forint
United States dollar vs Hungarian Forint
United States dollar vs Romanian Leu
United States dollar vs Mexican Peso
United States dollar vs South African Rand
United States dollar vs Russian Ruble
United States dollar vs Czech Republic Koruna
Indices Page

combine the most traded company stocks around the globe. Their main asset is the
shares of the large corporations and moves in the market depending on their
profits and losses. Some of the more popular indices that can be traded with
Bitspotrade are the London FTSE100, Standard & Poor’s 500, Dow Jones and
others. When trading indices you gain exposure to the various equity markets,
helping you get the upper hand when a profit opportunity occurs.

Trade indices with Bitspotrade and take advantage of our low commissions, tight
spreads, and leverage up to 1:50. Our extensive asset library is at your disposal
where you can make your choice of a preferred index and start generating income.
Commodities Page
Commodities are the valuable resources around which our civilization has been
built. Whether it would be Metals, providing material for our industrial revolution
throughout history, Agriculture that sustained and kept humanity well-fed, or
Energy that kept us warm during cold winter nights, nowadays all commodities are
an integral part of the financial world.

With Bitspotrade you can trade a plethora of commodities in many different fields:

Metals such as Gold, Silver, Platinum, Copper and others

Agricultural such as Wheat, Cocoa, Coffee, Sugar, and others
Energy resources such as Natural Gas, Crude Oil, and others

When trading these types of products, keep in mind that we offer you low
commissions as well as tight spreads, enabling as many customers as possible to
get into commodity trading.

Different commodities have different trading hours, so please check the table
below in order to keep yourself informed. Even though the hours vary depending
on the asset, you can always get in touch with a Bitspotrade representative for
further information and strategies.
Stocks Page
Trading Stocks is an excellent opportunity to get into the world of financial markets
mostly because of their simplicity and popularity. Less experienced traders feel
more confident when trading with popular names such as Apple, McDonalds or
Coca-Cola, for example. Also, following stocks news is very accessible because
almost every big news outlet reports on the largest corporations, and no financial
background is needed.

Some traders like to trade with a single stock but others prefer to trade stock
groups. We offer our customers a large variety of individual stocks from all over the
globe. Bitspotrade enables you to get a hold of some of world’s leading companies
and trade with their stocks.

When trading stocks with us you don’t have to wait for an uptick before going short
on a stock. As with other types of assets, Stock trading gives you the opportunity to
open both long and short positions.
Metals Page

Precious metals like Gold and Silver are amongst the oldest and most
trusted forms of currency. Bitspotrade provides you MT4 to trade these
metals as commodities in the same way as regular Forex currency trading.

To trade in metals you do not require to physically purchase them. Instead,

you simply trade on the real-time price movements of the asset, meaning
you have potential to profit whether the market is going up or down. And
because metals are traded Over The Counter (OTC), your transaction occurs
directly between the buyer and seller, meaning no brokerage fees and no
commission on standard accounts.

Advantages of Trading Metals

Sell short or long, trading in whichever direction the market goes

Maximum exposure from minimal investment – margins as low as 1%
Flexible leverage so you can control your level of risk

OTC trading – no brokerage fees and no commission on standard accounts

Simple trade execution through the MT4

Trading Hours
Code
Market Name
Open (GMT+2)
Close (GMT+2)
Break (GMT+2)
Gold
Silver
Monday
Friday
About Us Page
About Us
Why Choose Us ?
Dependable & Transparent

Bitspot Trade has a worldwide presence. We are servicing clients across the
globe today. Being in field for over 10 years now, we understand the
importance of building reliable Data centers, Secured trading platforms,
well-trained, efficient and experienced support staff to solve your every
query. Bitspotrade does not have a Dealing Desk. Thus we ensure ‘No
Conflict Of Interest’ and No price manipulations to assure you the stable
trading parameters.

We also guarantee the transparency of Data. The data you need to share
while trading, we provide you with all the necessary information and tools
so that you share only the data necessary for trading and only to a relevant
extent.
Safety Of Funds
At Bitspot Trade, we are committed to provide you a safe and secure trading
environment. This is especially important when it comes to depositing and
withdrawing your hard-earned money. Bitspo Trade lets you trade with
unprecedented assurance and security. We take enormous measures to
make sure your funds are handled in the safest possible way.

SEGREGATION OF FUNDS
Your funds are received in the company’s fiduciary segregated client bank
accounts. These funds are off balance sheet and cannot be used to pay back
creditors in the unlikely event of default of the Company.
BANK ACCOUNTS
The Company maintains operational and client bank accounts with reputable
international banking institutions.
ADVANCE TECHNOLOGY
We use Secure Socket Layer (SSL) encryption between the servers to avoid
any information leakage. Our Data centers use both Hardware and Software
firewalls to protect your data from intruders, hackers & malicious code.
Contact Us Page
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Legal Page
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What is trading Page

Contract for Difference is a contract between two parties, typically described

as “buyer” and “seller”, stipulating that the seller will pay to the buyer the
difference between the current value of an asset and its value at contract
time (if the difference is negative, then the buyer pays instead to the seller).
In effect, are financial derivatives that allow traders to take advantage of
prices moving up (long positions) or prices moving down (short positions) on
underlying financial instruments and are often used to speculate on those
markets.
For example, when applied to equities, such a contract is an equity
derivative that allows traders to speculate on asset price movements,
without the need for ownership of the underlying asset.

Long Position

If you believe that the price of the underlying asset is rising, you would open
a “Long Position”, meaning that in order to make a profit out of this trade,
the price when closing the position should be higher than the opening price.
Short Position
In contrast, if you think that the price of the underlying asset will be
dropping, open a “Short Position”, meaning that when closing the trade, the
Factors That be
price should Influence The the
lower than Value
opening price.
Expiry time of the order
Type of asset
Market movements
Value of order
Why Should I Trade ?
When trading underlying assets you are not actually buying/selling them, so
there are no additional borrowing costs and fees
By opening Long and Short positions, your trading is a lot more flexible
Trading allows you to take advantage of Leverage
Maximise your profit potential by trading on both rising or falling market
positions
Does Trading Have Any Risks?
The main risk when trading Contracts for Difference is the global market
itself. Successful traders have to understand the basics and follow the trends
and news in order to be as efficient as possible. Most times you can predict
the market movement even with no research but if you want to take it to
the next level, knowledge of the global finance field is recommended.
Forex Essentials Page
The world of trading on the financial markets is dynamic and always changing. There is always
something new to learn and education is really important in order to start making profits. Forex might
seem a bit difficult to get used to and possibly overwhelming for new traders but in fact, it is simple and
it takes no more than a few hours to grasp the concepts. In addition to our financial experts who are
always available to help you get started, we would also like to present you with some Forex basics in the
form of a few articles which we believe will answer most of your questions.

Whether you are a beginner or an experienced trader, improving your skills and expanding your
knowledge is essential in order to keep up to date with global Forex trends. We know how important it is
to have help to enhance your Forex knowledge, so that’s why we have created the Knowledge Centre and
the Resources Section on our website. You can always rely on the educational tools that we provide to
improve your skill.

Our educational articles were created with the help of our experts who drew on their years of experience
in financial markets in order to help you learn as fast as possible. We at Bitspotrade place a high value on
the opinion of our traders so this is why we have taken into account all of your remarks and
recommendations, providing you with content that can be understood easily and will help you get started
almost immediately.

Our goal is the happiness of our current customers but also we would like to do everything in our power
to help new or potential clients to start investing on the Forex market with confidence.

The Basics Of Forex Trading

What every beginner trader should know is that one of the simplest ways to participate and invest in the
Forex markets is Buying and Selling. Basically, this means that a trader buys a currency pair while
another trader is selling it. Each currency pair has two prices. The first one is the Bid Price which is the
price at which the market buys, and the second one is the Ask Price – which is the price at which the
market sells. The difference between these prices is known as the Spread.

Placing an order or Opening a position means when you decide to buy or sell a currency pair. For
example, let’s
Please note thatpick
the EUR/USD
markets arewhich is oneby
influenced of athe
lotmost common
of factors. pairs
They andbe
might click on BUY/SELL
political, economic,onrelated
the
trading platform. Now you have opened your position and are waiting for the market to respond.
to climate or even extreme such as wars, terrorism attacks, and others. Every single worldwide event
impacts the market and experienced traders know that this is the time when the profit potential is really
high.
Forex Currency Pairs
The most popular assets to trade on the Forex market are the currency pairs, such as EUR/USD,
GBP/JPY, and others. Every pair consists of two different. The first one is the Base Currency and the
other is the Counter Currency. When buying and selling, a trader deals with the Base Currency.

For example, if you want to buy GBP/USD, then you will buy Pounds and sell Dollars, meaning you are
expecting the Pound to rise and the Dollar to fall. Every transaction on the Forex market is double-sided
and performed with a buy/sell order.
Forex Margin
Margin is the difference between your capital and the amount you can invest. This is the amount of
collateral required by Forex traders to maintain their open positions on the Forex market. If an account
falls below the margin requirements, then all open positions are automatically closed and a client gets a
margin call via e-mail, when the margin indicator drops. For example, if a trader buys 20 000 EUR/USD
Forex
at Leverage
1% margin, they will need 200 EUR in their account balance in margin to open the position.
Leverage is a term in Forex which allows you to trade with a larger amount of currency than you have
deposited in your account. Trading with leverage is one of the most powerful Forex tools and is a great
way to exponentially maximize your initial investments. For example, if your margin is 1%, this means
that the leverage is 1:100, so you will need only $20 in real funds in order to buy $2000 worth of
currency on the market.

Forex Rollover / Swap Rate

A Rollover means moving a Forex position to the following delivery date, in which case you are likely to
either pay or receive a rollover fee. If a trader holds a trade in the spot Forex market overnight, this
position is rolled over. The classical rollover fee is determined by the difference in interest rates between
the two underlying a transaction.
Forex Trading Hours
The Forex market is based on “spot transactions” and trading takes place 24 hours a day, 5 days a week.
The only time trading ever ceases is on weekends and holidays. This includes Christmas and New Year’s
Eve, when the Forex market closes early.
Technical Analysis Page
The term “Technical Analysis” can be defined as the way to predict the future price of an asset
based on its price’s history. In other words, you are able to speculate whether the price will rise or
fall after taking into consideration the previous movements of the asset for a certain period of time.
Technical analysis can be applied to a lot of different financial systems, but it is especially useful in
Forex. The Foreign Exchange markets have such a large volume of data for just 24 hours that you
are able to make your analysis based on that short time frame since there would have been a lot of
movement.

The technical analysis is presented as a chart and can be understood easily once the general idea is
grasped. One of the most popular tools that can be combined with technical analysis is TRENDS
(link). Traders are able to predict the future movements of the price with exceptionally high
accuracy.
Technical Analysis works for Forex well because it has the largest volume of data, but the same
tools and analysis can be applied in other markets as well. A lot of Bitspotrade traders analyse by
using this method a large variety of assets, which are spread into different markets – Commodities,
Equities, and others.
All information about the stock markets is immediately included in the Forex charts and prices.
With today’s well-developed and advanced technology it is almost impossible for Forex markets to
show any discrepancies or older data. All markets are constantly monitored by supercomputers
around the world and even there’s a small possibility that an incorrect data has been released
publicly, it is usually fixed in a matter of milliseconds. This is really important for technical analysis
because, in order to get the best possible results and maximum accuracy, traders need large amounts
of correct information, delivered on a regular basis.

A great challenge for traders is to determine whether a currency pair (or any other asset in that
matter) is trending or not. That’s where technical analysis comes in hand, showing if there’s really a
trend or not. Looking back in the history of an asset’s price, using this type of analysis, traders draw
a line between two important price points in the past (usually the point at which the price stopped
falling and started rising and vice-versa). By using this tool, it can be determined where the trend
has started, for how much it could keep going and eventually when it may be ending
Trend Lines Page
Plotting a trend line on a Forex chart gives very valuable information. Not only will the
trend line show a current trend (direction) of the price move, it will also depict points of
support and resistance levels for the market price.
In addition, it will also help to determine good entry and exit points, best positioning for
profit taking and placing protective stops. This very simple, but yet quite powerful tool,
will be one of the crucial indicators of a possible trend reversal (when the market price
starts to move in the opposite direction).

So, shall we learn how to draw trend line to make it our good friend in profitable forex
trading?
In the uptrend market, the trend line is drawn below the pattern formation; in the
downtrend it is drawn above it. (That is why when the trend is going to change, our trend
line will be crossed, which will therefore give us a signal that the price may start moving
in another direction.)
In the uptrend, the Forex trend line is drawn through the lowest swing-points of the price
move. Connecting at least two “lowest lows” will create a trend line.

In the downtrend, a trend line is drawn through the highest swing-points of the price
move. Connecting at least two “highest highs” will create a trend line.

A trend line confirms its validity when the price respects this line. The more “lowest
lows” / “highest highs” the trend line contains, the stronger it becomes.
Fundamental Analysis Page

Forex traders often use a variety of economic data to determine where a given country’s economy
and currency may be headed next. This data may include: Gross Domestic Product (GDP), imports,
exports, employment, unemployment, growth, debt and many other factors. Collectively, these
factors are often referred to as the fundamentals. Therefore, fundamental analysis refers to the
analysis of any data, as well as the actual price patterns of the currency itself. The price patterns
frequently impact on the value of the currency on the Forex market.
Supply And Demand
The value of responds to changes in supply and demand. For example, if the demand for US Dollars
rises, so will the value of the Dollar (USD). Likewise, if there are too many Dollars available on the
market their value will drop along with the demand.
Forex Currency Pairs

Forex are traded in pairs – one value either drops or rises in comparison to another. are
represented by a three-letter abbreviation such as USD, JPY or EUR. In the currency pair, the first
currency is called the base currency and the trailing is called the quote currency. The price at any
given moment shows how much of the quote currency is needed to equal one unit of the leading
or base currency.

For example: When the EUR/USD pair is priced at 1.5000, this means that it takes 1.5 US Dollars to
exchange for 1 Euro. If the Euro rises in value, then the EUR/USD price will also rise as more US
Dollars are needed to buy each Euro. Likewise, if the Euro drops in value, then the price of the
EUR/USD pair will also drop as fewer US Dollars are now required to equal each Euro.
The value of the leading or base Forex currency is not the only factor in determining the value of a
particular currency pair. Any change in the value of the trailing or quote currency also affects this
relationship.
So, in the same example, if the US Dollar now rises in value, then the EUR/USD pair would drop as
fewer Dollars are now needed to buy each Euro. If the US Dollar drops in value, then the EUR/USD
price would rise, as more US Dollars are now required to equal each Euro.
Interest Rates
Another key factor that influences the value of a given currency is the constantly changing interest
rate. Interest rates are determined by the central bank of a particular country.
Central banks are always caught in a delicate balancing act. If a country’s currency gets too strong,
its exports become too expensive and other countries may look elsewhere.
Higher interest rates also tend to attract more foreign investments, which is why the currency of
that country frequently goes up with the interest rates. Meanwhile, cheaper interest rates tend to
stimulate lending inside the country and therefore economic growth.

Macroeconomic Indicators

GROSS DOMESTIC PRODUCT (GDP)

The most important indicator is the GDP report. Basically, the GDP is the broadest measure of the
state of an economy. The GDP is an aggregate monetary value of all the goods and services
produced by the entire economy during a quarter (excluding international activity). The key number
to look at is the GDP growth rate. Generally, deviations from the normal level can prove to be rather
influential. Growth above this level is often thought to be unsustainable and a precursor to high
inflation, while growth below this range (and especially negative growth) means that the economy is
running slowly, which can lead to increased unemployment and lower spending. It is worth noting
that each initial GDP report will be revised twice before the final figure is settled upon: the advance
report is followed by the preliminary report about a month later and a final report a month after that.
Significant revisions to the advance number can cause additional ripples on the markets.

Do not confuse Gross Domestic Product with Gross National Product (GNP). GDP includes only
goods and services produced within the geographic boundaries of a country, regardless of the
producer’s nationality. GNP does not include goods and services produced by foreign enterprises
but does include goods and services produced by national firms operating in foreign countries. For
example, if a U.S. firm was operating a chain of stores in France, the goods and services produced
by those stores would not be included in the GDP but would be included in the GNP. As the global
economy grows, the difference in GDP and GNP is decreasing for developed countries like the U.S.
But for smaller, developing countries, the difference can be substantial.

PRODUCER PRICE INDEX (PPI)

The PPI is one of the two basic ways to measure inflation (the other one is the CPI). The index
measures the price of goods at the wholesale level. So, while the CPI tracks the cost paid for goods
by consumers, the PPI shows how much the producers are getting for the goods. There are three
types of goods measured by the PPI: crude, intermediate, and finished goods. Crude goods are raw
materials used in production of something else, intermediate goods are components of a larger
product, and finished goods are what is actually sold to a reseller. The finished goods data are the
most closely watched since they are the best gauge of what consumers will actually have to pay.
The Core PPI is a measurement of prices assessed by producers of goods and services, factoring out
the items that fall under the food and energy category.

RETAIL SALES INDEX

The Retail Sales Index measures goods sold within the retail industry, from huge chains to small
local stores, by taking a sampling of a set of retail stores across the country. This report reflects
data for the previous month. Many analysts prefer to look at the figures excluding auto, which
means excluding the volatile car sales figure. This number is believed to be a better measure of
across-the-board purchasing trends. The report does not include money spent on services, so it
represents less than half of total consumption during the month. However, even with these
limitations, the figures are closely watched as an indicator of the state of the economy.

BEIGE BOOK
The Beige Book is part of the Federal Open Market Committee’s preparations for its meetings and
is published eight times a year. The report is released on two Wednesdays before each FOMC
meeting at 2:15 pm EST. The book is a summary of economic conditions in each of the Fed’s
regions. The report is mostly seen as an indicator of how the Federal Reserve might act at its
upcoming meeting.

FACTORY ORDERS
The indicator signals industrial demand on durables and non-durables. An increase in the reading
indicates a possible growth in production activity, while a decrease signals a phasedown. That is
why the currency rate rises on increases and falls on decreases. This indicator includes Durable
Goods Orders and Non-durable Goods Orders. The Durable Goods Orders indicator includes goods
with intended lifespan of more than 3 years (cars, furniture, building materials), which make more
than 50 of the total. Non-durable goods orders include food, clothes, light industrial goods etc. The
Factory Orders report characterizes production activity. Increase in the indicator is a positive factor
for the economy, while decrease in the indicator signals a downturn.

INITIAL JOBLESS CLAIMS

This weekly report indicates the number of claims applied to the Employment Department for the
redundancy awards. This is an up-to-date, but often delusive, indicator of economic tendency.
Increase/decrease in the number of those who applied for initial claims signals in favor of growth
slowdown/acceleration. In this respect, the influence of this report on the market is low, though
some impact on trading behavior is probable in rare cases. Due to the weekly data variability, most
of analysts prefer monitoring the four-week moving average to get a more distinct reading while
determining the main market tendency. Usually strong displacement (about 30K) is considered to
get significant change of the trend. The steady decrease in initial jobless claims signals economic
growth and improvement in the labor market and causes the dollar growth. The readings above
400,000 point to the problems in the labor market.

ZEW SURVEY
ZEW Survey is the main indicator of investors’ confidence. It is calculated on basis of 350 analysts’
and institutional investors’ poll. The indicator reflects the difference between analysts who are
optimistic about forthcoming economic development of Germany within six months and those who
are pessimistic. If most of respondents are optimistic, the reading is above zero, if pessimistic —
below zero. Example: if thirty analysts are optimistic, thirty are neutral and forty are pessimistic, the
reading will make -10. The survey is used for German economic prospects estimation. ZEW Survey
growth triggers the euro growth.

PERSONAL INCOME
Personal Income measures households income from all sources before personal income tax is paid.
It includes rental income, interest income, government subsidy payments, dividend income, etc.
Personal income indicates future consumer demand. It is reported together with Personal Spending.
Personal income increase may trigger growth in retail sales, which is a positive factor for economic
development and provoke USD rise.

SURVEY OF CONSUMER CONFIDENCE SENTIMENT

This is a monthly survey of consumer confidence conducted by the University of Michigan to detect
consumers’ sentiment. In fact, consumers’ willingness to spend money is measured. It is a leading
indicator of the consumer climate. It consists of two components: sentiment (about 40% of the total
index) and expectations (the other 60%). About 500 consumers answer five questions about current
and future economic situation (two and three questions correspondingly). Answers to the first two
questions form Current Conditions survey, whereas the last three questions form the Expectations
index. The increase in the index signals positive perspectives of the economic growth, whereas
decrease signals possible deceleration in growth. The index increase triggers USD rise.

CHICAGO PMI
Chicago PMI is the result of Chicago industry purchasing managers polling. It characterizes
manufacturing orders, output prices, and inventories. The readings below 50 indicate an economic
recession. The index is very closely watched. It has a significant impact on the market because it
can give an idea of what will be the ISM Manufacturing Index. The report is released on the last
business day of each month at 3:00pm (GMT).

ISM MANUFACTURING INDEX

The index is based on a survey of more than 300 manufacturing firms by the Institute of Supply
Management. The ISM Manufacturing Index monitors employment, production inventories, new
orders, and supplier deliveries.
By monitoring the ISM Manufacturing Index, investors are able to better understand national
economic conditions. When this index is increasing, investors can assume that the stock markets
should increase because of higher corporate profits. The opposite can be thought of the bond
markets, which may decrease as the ISM Manufacturing Index rises because of sensitivity to
potential inflation.

NEW HOME SALES

This index shows the number of new dwellings sold in the past month. An increase in home sales
suggests a growing housing market which tends to fuel the rest of the economy. The New Home
Sales report confirms trends in housing reports that record earlier stages of construction such as
Building Approvals and Construction Work Done and is considered a leading indicator for broader
economic developments.
The headline figure is the percentage change in housing sales from the previous month.

HOUSING STARTS
This indicator reflects the rate of growth in housing construction. The Housing Starts report acts as
an indicator measuring the strength of a construction sector and housing market. Economists also
use the figure as a leading indicator for the economy as a whole due to Housing Starts’ sensitivity to
changes in the business cycle. The number of housing starts dwindles at the onset of a recession and
quickly grows at the beginning of an economic boom; consequently, a high Housing Starts figure
forecasts strong economic growth.

The headline figure is the percentage change in new home starts.

CONSUMER CONFIDENCE
Consumer Confidence is a measure of popular sentiment regarding an economy. The figure is
derived from a survey that asks thousands of consumers about personal expenditure patterns and
inflationary expectations. In general, rising consumer confidence precedes increased consumer
spending, which drives both economic growth and inflation.
A headline figure above 50 shows positive consumer sentiment, while a number below 50 shows
negative consumer sentiment; the greater the distance is, the stronger the sentiment is.

CONSUMER PRICE INDEX (CPI)

The CPI is the most widely used measure of inflation. It gauges changes in the price level of a
market basket of consumer goods and services purchased by households. The bundle includes about
200 types of goods and thousands of products, ranging from foods and energy to expensive
consumer goods. The prices are measured by taking a sample of prices at different stores. In
addition to the overall CPI figure, it is important to also look at the core CPI report excluding
volatile goods like food and energy and gives a closer measure of real inflation. Most reports of the
CPI figures will include both the overall and the core numbers.

There is also a harmonized CPI (HICP). This is an indicator of inflation and price stability for the
European Central Bank (ECB). It is a Consumer Price Index which is compiled according to a
methodology which has been harmonized across the EU nations. The HICP is produced by each
European Union country to help measure inflation and to guide the ECB in shaping its monetary
policy. The HICP is also used as the basis of the European Index of Consumer Prices that is
weighted towards household expenditures.

EMPLOYMENT INDICATORS
One of the key macroeconomic indicators is the Unemployment Rate, which is the percentage of
unemployed workers above 18 years in relation to the total labor force. It is based on a survey of a
random sample of about 60,000 households, 375,000 plants. The unemployment rate is calculated
by dividing the number of unemployed by the number in the labor force, where the labor force is the
sum of the unemployed and the employed. The natural rate of unemployment is considered to make
about 4-5% of the labor force. It is treated as an indicator of possible inflationary pressure through
wages increase. Salary is considered to grow faster with low unemployment rate, especially in case
inflation acceleration is expected.

There are also such reports as the Average Workweek and Average Hourly Earnings. It should be
kept in mind that the work force is not the entire population; it is a subset of people that meet certain
criteria. The unemployment picture is a key gauge of the health of the economy while the Average
Hourly Earnings figure impacts inflation.
Non-Farm Payrolls, known as Non-Farm Employment Change, is a fundamental indicator, which
measures jobs added in the previous month. The report excludes farm-related jobs because they tend
to be seasonal general and not necessarily indicative of employment trends. In addition to these
standard reports, the U.S. statistical authorities also publish a weekly Initial Jobless Claims report
on the number of people filing for unemployment benefits for the first time. These numbers help to
take the pulse of the job market. Another crucial report on employment in the U.S. is the ADP
National Employment Report that estimates the changes in U.S. employment using payroll data for
over 500,000 firms from Automatic Data Processing, Inc. (ADP). This information is compiled by
Macroeconomic Advisors, LLC into a report showing aggregate numbers, as well as segments
defined by companies’ size, goods versus services, and manufacturing vs non-manufacturing firms.

CONSUMER CONFIDENCE INDEX

Consumer confidence is considered an essential element of the economic picture. The report
measures how confident consumers feel about the state of the national economy and their spending
potential. The idea is that the more confident people feel about the stability of their incomes, the
more likely they are to make purchases. The Consumer Confidence Index uses about 5,000
households as a sample population and even measures the number of help wanted ads in newspapers
to gain a sense of the state of the labor market. Many analysts believe that high consumer
confidence can cure a lot of what ails an economy. When most data points to a slumping economy,
high consumer confidence and consistent spending may help soften the blow or spark a recovery.

DURABLE GOODS Orders

The Durable Goods Orders report measures how much people in the U.S. are spending on long-term
purchases (products that are expected to last more than three years). The report is made at 8:30 am
EST around the 26th of each month and is thought to provide insight into the future of the
manufacturing industry. The reports are broken down by industry, which helps to eliminate the
effects of single volatile industries like defense spending. Investors are concerned with the overall
picture, and the markets are moved by general trends across most industries.

CURRENT ACCOUNT

Current Account is the sum of the balance (i.e., net revenue on exports minus payments for
imports), factor income (earnings on foreign investments minus payments made to foreign
investors) and cash transfers. The current account balance is one of two major measures of the
nature of a country’s foreign trade (the other being the net capital outflow). A current account
surplus increases a country’s net foreign assets by a corresponding amount, and a current account
deficit does the reverse. Both government and private payments are included in the calculation. It is
called the current account because goods and services are generally consumed in the current period.

TANKAN SURVEY
To compose a survey, about 8-10 thousand businessmen from different economic spheres are
polled. The companies, among which 10-15 are large enterprises, 30-35 — medium-sized
enterprises, 50-55 small enterprises, are asked about 1) business environment, 2) production and
sales, 3) demand and supply, 4) prices level, 5) gains, 6) direct investments, 7) employment, 8)
fiscal conditions. Top managers are polled separately. Estimation methods: Diffusion Index (DI) —
«Favourable» minus «Unfavourable», % points, percent change — change of the index in relation
to the same period of the previous year. The survey increase signals improving economic
conditions and is favourable for the JPY rise.

PERSONAL CONSUMPTION EXPENDITURES (PCE)

PCE is a measure of price changes in consumer goods and services. Personal consumption
expenditures comprise actual and imputed expenditures of households; the measure includes data
pertaining to durables, non-durables, and services.
Similar to the CPI, the PCE is a report (a part of the Personal Income report) presented by the
Bureau of Economic Analysis of the Department of Commerce.
The PCE is a fairly predictable report that has little impact on the markets.

CAPACITY UTILIZATION
This indicator measures the degree of industrial capacity utilization. This is the ratio of total output
to the maximum-rated capacity. It shows the current state of the economy. The optimal value of this
indicator is 81.5%. The value more than 85% signals that the economy is overheated. A lower value
implies a weakening currency and economy
PHILADELPHIA FED INDEX
The index surveys about 100 manufacturers from Philadelphia, the U.S., which indicates their
attitude towards the current economic situation and perspectives for the nearest six months. The
index signals growth slowdown when it is below zero. This index can indicate what to expect from
the ISM Index (Institute of Supply Managment’ index), which comes out a few days later. This
index increase triggers USD rise.

PERSONAL SPENDING
Personal Spending is a comprehensive measure of how much consumers spend each month,
counting expenditures on durable goods, consumer products, and services. A healthy Personal
Spending figure means that consumers are buying goods and services, fueling the economy and
spurring output growth. The report is particularly valued for forecasting inflationary pressures.
Taken in excess, these high levels of consumption and production may lead to an overall increase in
prices. Indeed, the Fed uses a measure of inflation derived from the PCE as their primary gauge of
inflation.

On the other hand, persistently low Personal Spending may result in decreasing levels of output and
an economic downturn.

PURCHASING MANAGERS’ INDEXES (PMI)

These economic indicators are derived from monthly surveys of private sector companies. They
provide insight into business conditions in services and manufacturing sectors of a country. The
headline figure is reported as an index where 50 reflects the centerline of boom-bust sentiment. The
larger the divergence from 50 is, the bigger the change in business conditions is.

BUILDING APPROVALS
The indicator represents a number of domestic building permits granted for the month. Strong
growth in new approvals and permits indicates a growing housing market. Because real estate
generally leads economic developments, housing tends to thrive at the start of booms and wane at
the onset of recession. The figure can be used with others to forecast future growth in the economy
as a whole. A strong housing market also tends to lead consumer spending. The headline number is
the seasonally adjusted percentage change in new building approvals from the previous month.

EXISTING HOME SALES

The Existing Home Sales indicator records sales of previously owned homes in the United States.
This report provides a fairly accurate assessment of housing market conditions, and because of the
sensitivity of the housing market to business cycle twists, it can be an important indicator of overall
conditions at times when housing is particularly important to the economy.

While used home sales are not counted in GDP, they do affect the U.S. economy. Sellers of used
homes often use capital gains from property sales on consumption that stimulate the economy.
Higher levels of consumer spending may also increase inflationary pressures, even as they help
grow the economy.
The Existing Home Sales report is not as timely as other housing indicators like New Home Sales or
Building Permits. By the time the Existing Home Sales is released, market conditions may have
changed.

TRADE BALANCE
Trade Balance is the difference between imports and exports of goods. Trade deficit indicates that
imports of goods are greater than exports. When exports are greater than imports, there is a trade
surplus. Trade surpluses indicate that funds are coming into a country in exchange for exported
goods.
The balance of trade is sometimes divided into a goods and a services balance.
Trade balance forms part of a current account.
Traders Dictionary Page

Ask
The price at which a trader can purchase a particular financial instrument, such as currency
pairs. Also, called offer price, offer, asking price, or ask

Appreciation
A currency is said to appreciate when the price rises in response to market demand; an
increase in the value of an asset.

Aussie
Slang term for the Australian Dollar, abbreviated AUD.

Bank Rate
The rate at which a country’s central bank lends money to its domestic banks.

BOC
Bank of Canada, the central bank of Canada.

BOE
Bank of England, the central bank of the UK.

BOJ
Bank of Japan, the central bank of Japan.

Bundesbank
The central bank of Germany, also nicknamed Bubba.

Bond

A name for a debt which is issued for a specified period of time on which interest is paid.

Base Currency
In a currency pair, the first currency in the pair is called the base currency. For example, in the
GBP/USD pair, GBP is the base currency.

Bear Market
It is the market characterized by generally falling prices. The opposite of Bull Market.

Bull Market
It is a market characterized by generally rising prices. The opposite of Bear Market.

Bid
The price at which an asset is offered to traders who wish to sell. This is also known as the
‘bid price’ and ‘bid rate’.
Buy Limit order
A type of entry order used by traders to buy an asset below the current market price.

Buy Stop order

A type of entry order used by traders to buy an asset above the current market price.

Closed Position
A position that has been terminated or ended.

Central Bank
The authoritative bank that manages a country’s currency. For example, the US central bank is
the Federal Reserve and the German central bank is the Bundesbank.

Depreciation
A decline in the value of a currency due to market forces.

Day Trading
Opening and closing the same position or positions within the same trading session.

Dealer
An individual or firm that buys and sells assets from their own portfolio, acting as a principal
or counterparty to a transaction.

Dealing Desk
Used loosely as the place where dealers facilitate pricing and executing trades.

Exchange Rate
The rate at which one currency can be exchanged for another.

ECB
Abbreviation for Europe’s central bank, the European Central Bank.

Execution
When a trade is carried out and completed.

Exposure
This refers to the amount invested in a security and exposed to market risk.

Forex
Abbreviation for the Foreign Exchange market in which global are exchanged/traded.

Fundamental Analysis
The impact economic and political events have on prices in financial markets (interest rate
announcements, unemployment rate, etc.)

Federal Reserve (Fed)

The Central Bank of the United States.
Fixed Exchange Rate

An official exchange rate set by monetary authorities for one or more . In practice, even fixed
exchange rates fluctuate between definite upper and lower bands, leading to intervention.

Greenback
Nickname for the US dollar.

G7
Group of 7 Nations – United States, Japan, Germany, United Kingdom, France, Italy, and
Canada.

Gross Domestic Product (GDP)

The total value of a country’s output, income or expenditure produced within the country’s
physical borders.

Hedge
A position or combination of positions that reduces the risk of your primary position.

Interbank Rate
The interest rate charged on short-term loans between banks.

Inflation

An economic condition whereby prices for consumer goods rise, eroding purchasing power.

Kiwi
Nickname for New Zealand Dollar.

Leverage
Also known as margin, this is the percentage or fractional increase you can trade from the
amount of capital you have available. It allows traders to trade notional values far higher than
the capital they have.

Loonie
Nickname for the Canadian dollar or the USD/CAD (U.S. Dollar/Canadian Dollar) currency
pair.

Libor
The London Inter-Bank Offered Rate. Banks use LIBOR as a base rate for international
lending.

Liquidity
Liquidity refers to how much an asset can be bought or sold without affecting its price. It also
refers to the ability to exchange an asset for currency
Limit Order
An order to execute a trade at a specific price or a better one.

Lot
Lot is a standardized quantity of the instrument you are trading. In forex, one lot is 100,000
units of a particular currency.

Long Position
Taking a long position on a currency means that you buy it. In a currency pair, you buy the
first of the two – the base currency.

Margin

The guarantee, which is required by the dealer from the trader, to maintain an open locked
position or locked position that the client intends to open. Each tool, asset or market has its
own margin requirements. The margin is the collateral on a leveraged trade.

Margin Call
This is a notification which alerts you that you need to deposit more money in your trading
account so there can be sufficient margin to keep existing positions open.

Market Order
An order for a trade to be executed instantly at the best available price.

Maximum Lot
This is the maximum allowable trade size/volume that a trader can use for a forex trade on his
broker’s forex trading platform.

Minimum Lot
This is the minimum allowable trade size/volume that a trader can use for a forex trade on his
broker’s forex trading platform. Some brokers allow a minimum lot of 0.1 lots while some
others allow 0.001 lots (1 micro-lot).

No Dealing Desk
The process of delivering prices from the liquidity providers to traders without a department in
the broker’s office acting as trade or pricing intermediary. ECN brokers operate a ‘no dealing
desk’ environment.

Order
An instruction to execute a trade at a specified rate.

Open position
An active trade with corresponding unrealized P&L, which has not been offset by an equal and
opposite deal.

Pending Order
A client’s order to open a position when a price reaches a certain level. A trader may decide to
use a pending order if the current market prices are deemed unfavorable for profiting from, but
are expected to get to price levels where the odds of profitability are improved. Pending orders
are also used when the trader expects prices to retrace to cheaper levels before resuming the
previous trend, or when the trader is waiting for confirmation of a break of a key level before
entering in the direction of breakout.

Pip
Pip stands for Percentage in Point and it is the smallest price change that can be seen in an
exchange rate. In most cases currency pairs are priced to four decimal points and the smallest
change can be seen in the last decimal.

Quote Currency
The second currency of a currency pair is called the Quote currency. In EUR/USD for
example, USD is the quote currency.

Quote
A security price considered while buying and selling. It is expressed in Ask and Bid prices,
and the quoted prices are always that of the counter currency (quote currency) to one unit of
the base currency. A price quote is made up of the highest price that the trader is willing to pay
for the asset as well as the lowest price that the dealer is willing to accept for the asset. A
typical quote for the EURUSD is 1.2940/1.2943, where the first price is the Bid price and the
second price is the Ask price. Both prices indicate how much of the counter currency (USD in
this case) is used to buy 1 unit of the base currency (EUR in this case).

Range
The difference between the highest and lowest price of a future recorded during a given
trading session.

Rate
The price of one currency in terms of another, typically used for dealing purposes.

Rollover Rate
In forex, the rollover rate is the interest rate that traders pay or earn when they hold (rollover)
a position open overnight.

Risk management
The employment of financial analysis and trading techniques to reduce and/or control
exposure to various types of risk.

Resistance level
A price that may act as a ceiling. The opposite of support.

SNB
Abbreviation for the Swiss National Bank.
Slippage
This is when a trader executes an order at a price which is very different to the price they
expected the trade to be executed at. This usually happens during periods of high volatility,
when traders use market orders and stop loss orders.

Swap
A currency swap is the simultaneous sale and purchase of the same amount of a given
currency at a forward exchange rate.

Spread
The difference between the Ask and Bid price of a currency pair.

Spike

A sudden upward or downward movement in price that happens in a short time period.

Stop Loss Order

An order placed to buy or sell a security/currency when a certain price is reached. These orders
are placed to limit loss on a position.

Stock Index
A stock index is a measured value of a group of selected stocks that are analyzed together.
Investors use indices to monitor the market in general.

Scalping
This is the trade practice of opening and closing positions manually within a few minutes of
each other in order to capture small market moves and gradually build these up over time to
produce increased profits. Scalpers use larger position sizes in order to make more money
from the smaller pip targets.

Sell Limit Order

An order to execute a transaction only at a specified price (the limit) or higher. The sell limit
order is used when the trader has a bearish expectation for the asset, but expects the asset to
rise higher up to the nearest resistance point before resuming the downward move.

Support
A price that acts as a floor for past or future price movements.

Take profit order

A feature that allows traders to exit a profitable trade before the official time of expiry to
ensure that profits are made.

Technical Analysis
Traders use technical analysis to forecast prices by examining market/historical data through
the use of charts and trading indicators.
Thin
A liquid, slippery or choppy market environment. A light-volume market that produces erratic
trading conditions.

Tick
Tick is a minimal change of security price (1/100 000=0.00001).

Trailing stop
A trailing stop allows a trade to continue to gain in value when the market price moves in a
favorable direction, but automatically closes the trade if the market price suddenly moves in an
unfavorable direction by a specified distance. Placing contingent orders may not necessarily
limit your losses.

TRY
Abbreviation for The Turkish Lira.

US Non-Farm Payrolls (NFP)

The Non-Farm Payrolls is one of the most followed economic releases in the market.
Generally published on the first Friday of each month it can create irregular volatility in
multiple instruments. It measures the change in employment numbers for the previous month
for people that work outside the farming industry.

ZAR
Abbreviation for The South African Rand.
FAQ Page
FAQ

Freqently Asked Questions

MY ACCOUNT

How can I open a real account with Bitspotrade?

To open a real account click here. Choose the account type that best suits you, complete
the online registration, submit your documents and you are ready to start trading.

I forgot my password/login details

There are several ways to reset your password. The easiest is to click the Forgot password button or reset it via the  passwo

What is the difference between the Demo Account and the Real Account?

The demo account’s functionality is similar to the real account. In a demo, you can
trade with virtual money, whereas with a real account before you can start trading you
need to deposit real funds. A demo account is the best way for inexperienced traders to
explore the world of Forex trading, where they can learn, practice and try different
trading styles.

Do you offer a swap-free account?

Yes, we do. You can request it by contacting your Account manager.

DEPOSIT & WITHDRAWAL

What is the minimum deposit?

The minimum initial deposit depends on the account type selected, but the minimum for
to start trading is 250 EUR/GBP.

What can I deposit in?

It is possible to make deposit with EUR or GBP.

What deposit methods do you accept?

We accept a variety of deposit options: all major credit cards (Visa, MasterCard,
Maestro), wire transfer, alternative payment methods, such as WebMoney, Skrill,
Neteller etc.

How long does it take to withdraw my funds?

Withdrawal requests are usually processed within 5-10 business days. Please note that
Withdrawals will only be made to accounts that have completed the verification
procedure.

TRADING
How many trading platforms do you offer?
Bitspotrade offers the WebTrader platforms and also mobile platforms for Android and
iPhone users.

When is the forex market open for trading?

It is available 24 hours a day from Sunday night until Friday. Check the trading hours by clicking here.

What tradable assets are available?

We offer all major forex pairs, as well as a number of commodities, indices and stocks. Click here to see all assets available

What is the minimum trade size for trading on your platform?

In webtrader the minimum trade size is 0.01 lots.

What leverage do you offer?

Leverage available for trading is up to 1:200 depending on the account type. For
leverage amounts in other assets please contact your account manager.
FAQ Page

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