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GlobeX360 allows you to trade NASDAQ with tighter spreads and leverage of 1:500.
In this guide, we’ll dig deeper into what NASDAQ trading is all about and how you can trade NASDAQ with GlobeX360.
Let’s tell you how you can trade NASDAQ on GlobeX360.
What is NASDAQ?
For those of you who don’t know, let’s explain what NASDAQ is.
After the New York Stock Exchange, the NASDAQ is the world’s second-largest stock and securities exchange (NYSE). In 1971, NASDAQ became the world’s first fully electronic stock exchange.
That’s why many of its listings are for high-tech software, computer, and internet businesses, while it also caters to other sectors. Amazon, Apple, Microsoft, Meta (formerly Facebook), and other major companies trade on the NASDAQ.
The NASDAQ has a long history of making ground-breaking progress. For example, it was the first major exchange to develop a website, store cloud data, and sell its tech to other exchanges. In addition, NASDAQ was the first to provide electronic trading.
The NASDAQ was developed from the ground up to deliver automated quotes. It routinely enabled over-the-counter (OTC) trading in the years after its creation, to the point that NASDAQ became associated with OTC trading.
It later introduced automated trading systems capable of making trade and volume records and being the first exchange to provide internet trading.
If you want to buy or sell stocks, the NASDAQ offers a wide range of possibilities.
How to trade NASDAQ on GlobeX360?
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To trade NASDAQ on GlobeX360, you have to register an account with the broker and deposit a minimum of $25. Although the minimum deposit is low, when trading NASDAQ, you should deposit at least $10000.
GlobeX360 allows you to trade NASDAQ with 0.01 minimum lot size and 50 maximum lot size. Besides this, you can get a leverage of 1:500, along with a spread ranging from 1.2 to 2.
CFDs are used in all of GlobeX360’s trades. You don’t acquire the underlying asset when you trade CFDs on the NASDAQ. Therefore you’re not bound to it. Your only concern is the rise and fall of a stock.
CFD trading is similar to the traditional method of trading. With CFD trading, you can go long or short, place stop and limit orders, and use trading conditions to achieve his or her goals. You can trade NASDAQ in both ways, whether you have a bullish or bearish outlook.
What time to trade NASDAQ on GlobeX360?
Through the GlobeX360 platform, the NASDAQ is open from 4:30 pm to 11 pm South African time on weekdays. However, pre-market trading can extend as early as 11 am and go through the market open at 4.30 pm.
Additionally, after-hours sessions may span from 11 pm to 3 am.
What do you need to look for when trading NASDAQ on GlobeX360?
The NASDAQ price is influenced by several fundamental and technical factors, including the performance of the US economy and its industries. In addition, US Federal Reserve monetary policy can affect the price and foreign exchange rates, economic data releases, and even commodity prices.
While such factors can move the index in a specific direction, there is no assurance that the move will occur. Thus traders should evaluate how the influencing factors interact rather than focusing on one element alone.
Furthermore, economic data releases such as the Consumer Price Index (CPI), connected to inflation, can significantly impact trading choices.
Inflation may eat into profit margins across industries, and it’s also considered a possible forerunner of longer-term higher interest rates. Thus rising inflation might lead to a dip in indexes like the NASDAQ.
Financial recessions and pandemics, for example, can all impact market demand in one way or another.
Strategies you can apply with GlobeX360 NASDAQ
Here are the strategies you can apply when trading NASDAQ through GlobeX360.
Swing trading
Swing trading is when you enter a trade based on market trends. Swing traders use technical analysis tools like charts and other critical information to analyse the underlying instrument’s behaviour and estimate whether it will increase or decrease before taking a position.
These positions are often kept for a medium amount of time, although they can be closed at any moment if the trader desires.
Day trading
Day trading is defined as opening and closing a position or position on the same day. For example, a trader may open a position hoping that it would move in his/her favour during the day. Instead, they close the position before the conclusion of the trading day, leaving them with either a profit or a loss.
Position trading
A trader who keeps an open position for a longer period, such as weeks or months, hopes it moves in their favour is known as position trading.
On Monday, for example, a trader initiates a buy position. He or she may wait until the end of the month to close their trade if they believe the price will climb. In contrast to day trading, which confines a trader to a single trading day, enables them to access weeks of trading.
How to make money on NASDAQ with GlobeX360?
The key to making money on NASDAQ is to stay in the market; your overall success is best predicted by how long you’ve been in the market. Unfortunately, traders frequently enter and exit the stock market at random times, missing out on potential profits.
Unrealised gains are what you get if you hold on to a NASDAQ stock that has appreciated in value. You can only lock in your profits when you sell the stock. Stock values vary continuously when the market is open, so you never know how much you’ll make until you sell.
Experiment with different strategies. Keep track of your progress and analyse your findings. But, don’t get too wrapped up in how you’ll get incredibly rich overnight.
Bottom line
GlobeX360 provides a good overall NASDAQ trading experience. Understand the broker’s terms and conditions before trading the index. Also, familiarise yourself with market dynamics before jumping in.
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