The global lockdown in 2021 showed that even if one has the best office job, everything can change quickly and quite dramatically. Many people lost their staple positions because their employers didn’t manage to adapt to working remotely. Because of this a lot of people were forced to start exploring the ways to make money from home.
This article might be useful even for those who earn a stable income at a job. We will try to make you aware of the most common ways to get extra money, which will help you to discover new venues, multiply your income and enjoy your life. So let’s get down to business!
Popular methods of how to make money online
- Get familiar with eCommerce. In order to make extra money online this way, you don’t need to be a successful entrepreneur with a big budget. There are various platforms that allow you to sell your stuff online. Or, you can consider starting your dropshipping store. You don’t need a warehouse to store all the goods because everything will be done by your vendors.
- Trade cryptocurrency. You’ve definitely heard stories of people who made millions on cryptocurrencies. If this is such a profitable method, why not consider it as a source of extra income? You can trade cryptocurrencies on specialized exchanges or with forex brokers.
- Start freelancing. If you have skills in different areas, you can work as a freelancer and execute different orders. Usually, freelancers deal with writing, graphic designing, and basic development.
- Invest in stocks. Putting some cash into shares isn’t the way to make money fast but this is how this cash works for you. Find companies that see to show profitable performances in the following financial periods and just buy their shares at affordable prices. Over the course of time, if an organization succeeds, you might sell security at favorable conditions. The difference between the buy and sell prices will be your profit. You can also find stocks that will bring you regular passive income. These are dividend stocks, for example.
- Trade with forex brokers. These are institutions that give you exposure to foreign exchange – a market where you trade currency pairs. These companies might also give access to other financial markets. Since they offer the biggest diversity of ways to make money online, we will focus on their services in this article.
Brokers that can help you make money without leaving your home
|TD Ameritrade||$0||$0.00, $0.65 per contract for options, $2.25 for futures|
|Interactive Brokers||$0||$0.00, $0.65 per contract for options. $0.85 for futures|
|DotBig LTD||$250||$0 for all products (the fees built in the spread)|
|tastyworks||$0||$0 stock trades, $1 to open options trades (capped at $10 per leg), $0 to close|
|Capital.com||$20||$0 for all products (the fees built in the spread)|
How to make a stable income when trading
Trading is always risky, especially for beginners who aren’t experienced enough to understand how different financial markets work. In such cases, they can use the function of social trading available with the DotBig forex broker. This feature gives you the possibility to find experienced traders and follow their strategies. But if you want to do this on your own, we have a couple of tips that will help you to make a stable income.
First of all, you should create your money management strategy. This is completely individual. This strategy is determined by your financial possibilities. Don’t place too high amounts of money at risk if you cannot afford such losses. Before placing positions, always think about whether this decision is wise in terms of your money management strategy.
The second tip is to get familiar with risk control. Some brokers, including DotBig, provide special features that allow traders to mitigate the risks. Such features are called stop-loss orders. You can set limits under which you are ready to get your order executed, and so your order will not close unless your position meets these limits.
Bear in mind that there are no easy ways to make money at home. In any case, you will need to learn how something works and how to use the available tools. That’s why you should be very careful when choosing a forex broker or a trading platform. This market is so huge that you can easily come across scammers and lose your deposit. Before creating your trading account, study more about the organization you are going to cooperate with.
Is DotBig good for online trading? We believe that yes because this company has quite a positive reputation among traders and experts. Plus, it provides many tradable products, including the most popular ones – currency pairs, stocks, and cryptocurrencies. If you learn more about how markets work and how to use the tools of DotBig, you will have a great chance to succeed with this broker.
When looking for ways to make money from home, people usually ask these questions:
How can I invest in stocks online?
The easiest way to invest in stocks online is to register an investment account on a trading platform that gives you exposure to the stock market. Usually, to get your account registered, you also need to complete the identity verification.
Do I need any special equipment to work from home?
This depends on the occupation you choose. Usually, a laptop, connected to the Internet, is the only device you need to start working at home. If you want to trade online, you need to make sure that your device works without bugs because the markets are very dynamic and you need to be able to follow the changes in real-time.
What is the most stable market to trade online?
Forex and stock markets tend to be the most stable. In the stock market, you can also trade different types of types, which are considered the most stable assets.
Do I need any particular skills to make money from home?
Practice makes perfect. You need to gain some basic knowledge and skills in your occupation if you want this occupation to become a stable source of extra income.
How do I know that the broker is safe?
You should pay attention to the regulation of a forex broker. If it’s supervised by a respectable regulatory institution, it complies with all the safety requirements.