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How Wealth Dragons Became A Force To Be Reckoned With

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Wealth Dragons is a thriving self-education platform, and co-founder Vincent Wong is one of the most well-respected and well-recognized property investors in the UK. He made his name by helping property owners and investors structure ‘win-win’ deals and by pioneering ground-breaking financing strategies for property deals in the UK, Malaysia and Netherlands at the height of the financial crisis.

During his time in the property business, Vincent met John Lee at a networking event. They were fast friends, and it quickly became clear to Vincent that he had found an ideal partner to work with on future projects.

In 2009, Vincent and John founded Wealth Dragons with the vision of making self-education available to all, and they aim to become the first billion-dollar company in the self-development industry.

12 years on, their business is thriving. The Wealth Dragons Group PLC made history by becoming the first UK company in the industry to be listed on the stock exchange. And they now offer a wide selection of courses on their website on topics ranging from entrepreneur to fitness and wellness.

As John Lee says on the Wealth Dragons website, “The most fulfilling thing is that tens of thousands of people have benefitted from our training and many have gone on to become experts and mentors themselves.” So what are the secrets of their success?

Giving People What They Want

All businesses are about supply and demand, and Vincent and John recognised that there are thousands of ambitious individuals all over the UK hungry to learn how they can build successful businesses of their own.

By providing these aspiring entrepreneurs with access to expertise from many different areas of business, Wealth Dragons gives them the chance to take important steps along the road to fulfilling their dreams.

Working With Business Experts

All businesses ultimately succeed or fail based on the quality of the product or service they provide. If what is offered does not meet the expectations of the customers, the business will never be able to survive in the long term.

That is why it is absolutely vital that the experts on the Wealth Dragons website offer real value to their customers. The company’s current selection of entrepreneurship courses includes advice on useful subjects such as how to reach new customers on YouTube, how to give amazing presentations, how to succeed in the property industry and how to transform your small organisation into a mighty business empire.

Global Reach

When you want to turn a company into a billion-dollar enterprise, you cannot afford to dream small. And Vincent and John always had global ambitions for Wealth Dragons.

“Eventually, we want self-development to be available to everyone in every country,” John Lee said in an interview with Elite Business Magazine. “It’s obviously an incredibly ambitious target but we’re incredibly motivated and nothing is impossible.”

Vincent and John’s first choice of location outside of the UK was an easy one. Both of them have family roots in Asia and local knowledge of Singapore and Malaysia so they expanded into those markets at the earliest opportunity.

In recent years, Vincent has shared his property expertise with even more of the world. He has conducted seminars in countries such as Slovakia, Czech Republic, Netherlands, Australia, Singapore and Dubai. He now hosts online seminars too, and these have attracted audiences from new places such as South Africa.

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

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Business

Beginner’s guide to ECN brokers: what they are, how they work, and are they right for you?

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Choosing the right Forex broker is one of the crucial steps when starting your trading journey. No matter how much you invest in your education, how you monitor the fluctuations of the market, and how well you understand fundamental and technical analysis, at the end of the day, the platform you trade on will influence your bottom line. Whether it’s the spread or the commissions you pay, the Forex broker will, to a certain extent, determine how much you make from trading.

By default, most Forex brokers are STP brokers. STP stands for (Straight Through Processing), which means that they give you all the tools you need to trade and act as middlemen between the trader and the liquidity provider. STP brokers are the most common, and many people who do Forex trading don’t feel the need to replace them with something else. You can definitely grow your wealth by signing up for an STP broker, and if you are happy with your current broker, there is no need to change it just yet.

However, STP brokers do have their limitations, and there may come a time when the trader wishes to negotiate trading positions directly with liquidity providers, without a middleman. And that’s where ECN brokers come in.

What are ECN brokers?

Without getting too technical, an ECN broker gives traders direct access to liquidity providers so that they can negotiate their own prices. ECN stands for Electronic Communication Network – that’s the network they use to facilitate contact between the two parties, without getting in the way. Thanks to this direct contact, you get a series of benefits: you have more transparency, there are better trading conditions, price manipulation is limited, and you can even trade outside of normal hours. However, like most things in Forex trading, switching to an ECN network is a highly subjective choice. Before you say goodbye to your STP broker, you need to understand both the pros and cons of ECN brokers, if they can match your trading strategy, and, perhaps most importantly, how to choose an ECN broker that really stands by its promise.

Pros and cons of ECN brokers

Pros:

Trade outside normal market hours 

Compared to standard brokers, ECN brokers are more flexible, and they allow you to trade outside the regular market hours.

More favorable prices

Usually, with ECN brokers, you have tighter bid-ask spreads, which means that you can execute trades at better prices than usually available. Plus, trades are executed immediately because there is no middle man.

Anonymity 

Although not all traders want to be anonymous, some do – particularly the ones who prefer making larger transactions. ECN brokers can offer that.

The broker won’t trade against you.

No matter if you win or lose a trade, the ECN broker still gets their commission, so they have no conflict of interest to work against you. STP brokers, however, can work against the client’s best interest by manipulating prices. Plus, the ECN broker will also give you access to real-time price information as well as the pricing history, so it’s virtually impossible to be fooled.

Cons:

As beneficial as ECN brokers might be, they have their drawbacks, and these drawbacks will affect you if they don’t match your trading strategy. The most important con you should know about is that all the benefits of ECN brokers come at a cost – and a high one at that. ECN brokers ask for higher fees and commissions compared to regular brokers. These commissions are usually fixed, which can be a good thing, but if you execute a lot of traders, all of those fees can really add up and affect your profitability.

What’s more, the deposit requirements are higher for ECN brokers, and that can be really discouraging. Many traders argue that the ECN platforms aren’t too user-friendly, and it’s difficult to get accustomed to this type of trading, but it’s important to keep in mind that ECN brokers aren’t for beginners. If you’ve only traded for a couple of months and you’re still not very used to it, it’s normal for an ECN broker to look more complicated, which is why, when you’re starting out, it’s best to stick with STP brokers.

Keep this in mind when choosing an ECN broker.

ECN brokers offer favorable terms, but they’re not as easy to find. For example, there are few ECN brokers for US clients, which means that you’ll have to do more research to find one, perhaps even look offshore for options. That’s because the regulatory environment is stricter in the US, and brokers have to abide by harsh terms and conditions. Offshore brokers can offer better terms, even if they’re not regulated in the US.

They should, however, be regulated. The problem with unregulated ECN brokers is that they can be regular STP brokers trying to fool their clients. If you don’t do your research, it’s possible to open an account with what you believe is an ECN broker, only to discover that the trades are very slow and that there are many requotes. A requote happens when the broker is not able to execute the trade based on the price you entered. To avoid unpleasant surprises such as this one, the first thing to do is check whether the broker you chose is regulated. If they are, that means their services are legit and, if you try to scam you in any way, you can file a formal complaint, and your rights are protected by the law. If they’re not regulated, that doesn’t necessarily mean that they’re a scam, but you’re not protected in any way, and there is a chance you might be putting your money at risk. When in doubt, always check online reviews and comparisons. If a broker isn’t what they say they are, users will complain about it immediately, and you’ll avoid a potential scam.

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