With over 220 000 confirmed COVID-19 cases, most of the world might actually have to go into a self-imposed quarantine if they do not want to get sick. This makes traditional money-making opportunities pretty slim unless you can work completely remotely — and unless you are in China, you will still need to pay rent and otherwise earn your living.
That said, it’s not all doom and gloom — while COVID-19 has completely wrecked our economy, it also constantly creates new opportunities to make some money. Or maybe even more than just ‘some’…
COVID-19 – Its effect on the world economy
To put it plainly, this might be the worst financial crisis in the world since 2008. Maybe since the 1980s, if the events keep developing on the same scale. The supply chains in Asia are disrupted, the European Union is locking down borders, the United States is on the very brink of the recession, and it’s no longer a question whether or not the world GDP is going down — we can only argue ‘when’ and ‘for how long’.
However, any erratic movement on the market is a perfect opportunity for speculators — especially for Forex traders. You can be shorting USD against JPY, AUD against CHF, RUB against EUR — there are a lot of profit opportunities right now. And with the world currencies in flux, each day only brings more and more options.
Granted, it’s not quite the most profitable financial instrument right now — the stock market went completely insane and right now you can buy a lot of shares on the cheap. However, you have no idea how well they will perform — in fact, nobody does. Some of those companies might not even survive this crisis at all. At the same time, Forex currencies have entire countries worth of economy behind them and are much less likely to suffer such losses.
Therefore, while Forex is not most profitable, it’s the most sensible option when it comes to trading. And if you have a good trading infrastructure, high-quality analytics, and an extensive knowledge base — it’s an opportunity of a life-time. And that’s exactly where JustForex comes in.
How to make money in COVID-19 quarantine with JustForex
JustForex is an international Forex broker that specializes in getting newcomers to make their first trade. They educate, explain, and provide you with all the tools you are ever going to need. And now that you are locked inside your house, it might be the best time to start learning.
Forex provides you with infinite trading opportunities. For example, if on March 16, at 05:20 (UTC) you bought 110 EUR for USD, by 14:00 you’d have 111.40. That’s 1% profit in less than a day, from a single trade — and each day, there are dozens of such trading opportunities. Even the most careful professional Forex traders make 20-30% of income on top of their deposits weekly — and at times like this, they might even double them.
If you think you want to join their ranks — you are going to need a demo account. It’s like a real account, but with virtual money, so that if you lose — it won’t hurt you.
Here’s how you get one:
- If you don’t have a JustForex account yet — Sign Up.
- Once you are done, click My Accounts in the right sidebar;
- Click New Demo Account;
- Select the account type1;
- Select the account currency;
- Select the leverage. You should pick the same leverage you’d use on a real-money account;
- Enter your preferred virtual balance;
- Come up with a password. Confirm it in the field below;
- Click Open Account.
From that point, you can sign in your account with a MetaTrader 4 or 5.
1They offer different types of demo accounts, in correspondence with real-money accounts. They recommend Standard for beginners.
And from that point on, the whole world is your playground. You will have full access to Daily Analytics, and Market Overview — and most importantly you will be able to try out your new skills on your demo account.
And when you are sure that you understand the basics — open a real account and start making real money on Forex. You will even receive an up to 115% deposit bonus.
The coronavirus created a very harsh, and rapidly changing economic landscape. Right now, there are incredible profit opportunities available to the Forex traders, but all of them are risky. Any unfortunate piece of news can redirect the financial flow in a matter of minutes, and there is no way to predict them.
However, it’s at times like this that the fortunes are forged. So if you have nothing better to do in your quarantine — pick up your laptop and sign up with JustForex. Once you start making money, you might even think that this COVID-19 quarantine is not all that bad after all.