Margin Trading Gold and Cryptocurrencies on Your Mobile

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The global economy may be on the verge of the recession that will end the 10-year long prosperity that started after the biggest financial crash in history. The long term uptrend on the stock market has been largely fuelled by debt and increasing the money supply.

This puts enormous pressure on the alternative to the fiat currencies – gold, Bitcoin, and altcoins.

As a result, XAUUSD has been trending up strong passing through $1,500 resistance and reaching the highest levels since 2013. It has been a bonanza for traditional gold investors, who accumulated physical gold, and withstood the thin times when the precious metal went down to almost $1000.

SELL Gold        BUY Gold

What if you didn’t enter the market at the right time, even in May when XAUUSD was at $1,200?

Fortunately, you can profit from the rising (and also falling) gold prices thanks to an accessible margin trading app SimpleFX WebTrader. 

The great thing about trading with SimpleFX is the high leverage it offers. When buying (or selling) gold you can adjust any leverage up to 1:250 leverage (which is the highest effective leverage for gold). It allows you to make huge profits with small investments. 

Of course, trading with leverage has it’s downsides as you will lose money fast if the market goes the other way. That’s where another SimpleFX feature comes handy – no minimum deposits. You can invest really little money and make a huge profit. Here’s an example.

I like to trade using 1-day charts, and simply reading the basic signals. Usually, I focus on cryptocurrencies, but since gold became hot again, I decided to give it a try. I opened a long position on August 1 at $1420 in a local bearish retracement. My plan was to hold my position until it bounces off the resistance level of $1,500. 

I did the trade for fun and set the maximum 1:250 leverage, but sent just $30 to my account. Thanks to the high leverage I was able to open a position worth $7100 with a required margin of just $28.40. I knew exactly how much I would need thanks to SimpleFX Trade Calculator, another killer feature that makes SimpleFX WebTrader my favorite trading tool.

I closed my position on August 29. The XAUUSD price went up 8.16%, but I made $580 thanks to the 1:250 leverage.

One more thing, I was doing my trades as usually on my old Android mobile. The SimpleFX WebTrader is light enough to work smoothly on virtually any device. The design is great and the interface is pleasant on every screen size.

Since my lucky highly leveraged gold trade, I started watching the market more closely. The precious metal is at a very interesting point this week as the price is dancing around the important support/resistance level of $1,500/oz.

It stayed above that line since the last week of August, but it has just broken through the support line just as I’m writing this post. We have entered a time when the short term trend can go either way. 

SELL Gold        BUY Gold

Additionally, you can include the news to your XAUUSD trading strategy. SimpleFX is especially useful for reactive traders, who make orders in response to the most recent news. Whenever you get some crucial macroeconomic data or hear about another central bank buying gold and increasing its reserves, you can take the phone out of your pocket and make an adjustment.

If you are looking for investment opportunities and you would like to benefit both when the markets go up or down, try SimpleFX. There are no minimum deposits, and you can use a high up to leverage 500x if you want. Sign up to a fully functional DEMO or start trading with a LIVE account.

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