The Best Forex Broker For You!

Looking for the best forex broker?  “Best” being relative here.  Best in terms of what?  Finding the best forex broker for you may be different from the best forex broker for me as our trading goals, systems and strategies differ from each other on an individual trader to trader basis.

For large traders who want managed accounts with an individual assigned forex broker who deals with his account, the “best forex broker” may be the one he personally gets along well with or who responds to his requests for trades or assistance immediately.

For a retail forex trader presumably like yourself, you may define the “best forex broker” as a company that executes your trades accurately via their trading platform.  Or as one that pays out your forex account within one day when you request it.  Or the best forex broker could be the one that has the nicest trading platform or that give the best spread.

So finding the best forex broker “for you” is not as easy at is seems albeit it being VERY important to have the best you can get as your forex broker WILL have a determining influence on whether you make money in the forex market or not.  They can really give you that extra edge you need in order to be successful in the Forex market or they can break you as many a forex trader will be able to tell you.

Surmising I suppose the best forex broker will be one that delivers a combination of all the relevant factors.  Some being more important than others but there are some CRUCIAL things that you should look out for when searching for a forex broker. These considerations are paramount as there are many rogue forex broking companies online that will take your money and split.  Trust me, it has happened MORE than once not just with me but with quite a few traders I know.

So here are the things I consider when looking for the best forex broker as being crucial:

1. Will they pay out my forex trading account timeously when asked to do so?  Trust me, some forex brokers can give you a serious run around once you want to withdraw any finds from your forex account.  This is a big warning sign that they are crooked.
2. Do they exert any influence on the trading platform during trade?  This is another favourite trick of forex brokers to defraud you of your forex account.  Manipulate the spread and or price during a trade as to either stop you out or turn your winning trade into a losing one.  Fraud!
3. Ease of placing trades.  The best forex broker will have an easy to use trading platform that will allow you to place trades easily.  The system must also be responsive to trade submissions so that there is not a 10 second lapse between submitting an order and it being executed.  1000’s of Dollars can be lost this way.
4. They must make their money on a per transaction basis and not bargaining on the money you loose.  Most forex traders do not realize that when they place an order with their broker they are not actually trading the markets live.  They are trading with their broker who will be making the trade somewhere else.  They rely on you losing so they can claim your money as being lost in the trade whilst they are in fact not even trading your money on the market in real time.

Beginner forex traders tend to look for the best ‘spread’ and or for the lowest account opening balances when they start to trade but soon when they have lost a bunch of money through a crooked forex broker, they try to find the best forex broker.

In my mind, the best forex broker is the one that is not going to cheat you out of your money!  Other considerations in finding the best forex broker of course are things like :

• Getting continued forex training and advice.
• Getting forex signals and forex outlooks for your chosen currency.
• Providing market intelligence of currency movements.
• Friendly and helpful support

With a little research, you can find the right Forex broker who is the BEST for you and that can be trusted. If you lack referrals for Forex brokers, you can try and do a little research of your own.

The best forex brokers will offer potential clients with a demo account. This will allow you to try out their trading platform without actually risking money. You should look for a demo platform that works just like the real thing and you should also determine if you are comfortable with the trading platform.

This is my final suggestion for you to try out their demo system and find out everything you can about them by having direct contact with them, asking them the hard questions such as “how long do I have to wait for account payouts” etc and see how fast and courteous their responses are.  Also read forums and what other say about a particular broker and in the process you will find the best forex broker for you.

Posted in best forex broker

Best Forex Broker

Best Forex Broker Reviewed

If you are planning to invest in the Forex market, you will have to get the services of aforex broker to handle your trade transactions. The kind of broker will largely depend on the type of your investment structure. Majority of brokers represent a brokerage company, and they are entrusted to buy and sell foreign currencies. Their services are vital for doing Forex trading, so don’t think twice on hiring them to help you.

Forex Brokers need licenses in order to operate in the Forex market, and it requires from them to pass some tests to do this. The test are by all means not easy, so one needs to have a solid and relevant knowledge in business and finance matters, with the ideal person having finished or obtained a Bachelors or Masters Degree in both or either fields of study.

Forex Brokers differ from a Forex Analyst. A Forex Analysts’ sole job is to analyze or come up with a specific set of conclusions based on market trends, data’s, and other pertinent information. They usually give Forex “signals” or predictions of fluctuations of the currencies, but at most times, the signals are done by software analysis programs. A Forex broker is just an authorized agent of a financial institution that will follow your instructions and preferences regarding your Forex trading deals and transactions, as dictated and limited with the type of account you have with them.

How The Best Forex Brokers Make Money

Forex Brokers earn their income through commission basis on the sales of a Forex account, and as they buy and sell forex in your account, they get to earn a specified percentage from the transaction. Most brokers usually charge a certain amount for their fees for all of their consummated transactions.

Forex Brokers fall into two categories: Discount and Full Service Brokers. Discount Brokers don’t give investment advice and charge a lower commission. Their fees are low because of their limited service. Full Service Brokers offer more services on your investments and other helpful investment advices, and are paid on a commission basis. So, it’s really advantageous on your part to determine well before hand what kind of Forex Broker to get; as they will be the ones who’ll you have to deal with every time you do Forex transactions.

Your choice of  best forex broker should be influenced by your trading style and type of trader that you are. They are an integral and indispensable part of every day Forex trading. It’s up to you to decide whether to get a Full Service Forex Broker (for larger trading clients) to get the most out of currency trading if you are new to Forex, or choose a discount retail forex broker if you want to do majority of trading decisions yourself. Whichever best forex broker you choose, both are wise investment choices.

Finding the best forex broker starts with a desire to learn and a drive to become a great trader. But learning forex trading online takes dedication and a good teacher. But once you learn how to trade and do so successfully your life will change and you have options and financial resources you never had before.

Posted in best forex broker

The Best Forex Brokers

I have been trading in the forex marketplace for the best part of a decade now, and in that time I have seen many traders come and go. At its best Forex is exciting and offers a fantastic lifestyle.

To trade Forex successfully, you need two things. The first is a strong trading strategy and the second is a good broker. One that will allow you trade like a professional trader no matter what level, or amounts you are trading with.

However, most traders make the mistake of not getting the basics right, which is why they struggle and never achieve their potential.

In fact of many of the negative things written about different brokers on the Internet in forex broker reviews, come from the fact that the traders did not take the time to learn the basics and develop a proper trading strategy, and are then left feeling bitter when their trades don't make anything or lose money.

So how do you find a good broker, from the long forex broker list?

By looking at 5 things.

1.Low Minimum Account Opening and Trading Amounts.

You should only trade with as much as you can afford to lose. Using a broker with low trading and account opening amounts, means that traders can trade at a level they are comfortable with.

Many experienced traders 'learned' with smaller amounts and built their way up gradually.

2.Low spreads.

The spread is the difference between the bid and the ask price. The lower the spread the 'cheaper' the trading is.

3.Instant Execution Of Orders.

It's very important that a trader doesn't settle for a broker that re-quotes when they try to buy or sell. This 'slippage' can have a significant effect.

Often this comes down to the liquidity a broker can provide, which is often indicated by the volume of trading that is going through them.

4.The Opportunity for Good Education and Training.

If you are new to Forex, you cannot form a real trading strategy without a full understanding of the fundamental and technical aspects of the industry.

A good broker will offer the opportunity for this, as well as free professional charting and technical analysis tools.

5. Leverage.

leverage is effectively borrowing money to trade. For example if you used 10:1 leverage then you would trade with ten times as much money as you put down. If you used $1 from your account, you would actually trade with $10.

This can be a double edged sword, because it means the profits and losses can be much greater and happen much more quickly. A good broker will give traders flexibility to trade with as much or as little leverage as they need.

Based on these 5 aspects, I have used my experience of the industry to put together this site to review the current Best Forex Brokers in the marketplace.

Forex mistakes – what a gambler shouldn’t do at the Forex market?

What are Forex mistakes every gambler should avoid? The point here is the obvious things like “do not put all your eggs in one basket” but it is rather an interesting nuance one should take into account.
The fact is that any even the most charming and attractive Forex investing strategy games on Forex are not more than some mathematical models attempting to describe reality but not predicting it that don’t pretend to make absolutely sure recipe for a player’s behavior on the Forex real time exchange. Because of the misunderstanding players often start with the first loss blaming their strategy increasing their loss unreasoned actions.
In this case the professionals advise to remain calm. Most likely the loss (with the right observance of tactics, of course) happens because of the fact that the market and not the player behaves “improperly”. The same can be applied to the unexpected profits – the market may move toward the expectations of the player bringing an unexpected profit.
As in the case of unpredictable profits, and in case of loss, the main danger for the player with such movements of the market is in the fact that he has ceased to perceive market volatility and casts his own knowledge and experience from muddle. Forex secrets with all the market unpredictability is not a lottery, so assuming a psychological weakness it is easy enough to dive into the deep abyss of “minus”.
Therefore, using any tactics and games strategy on the Forex you need to remember that you can not resist the momentary feeling and leading 7 or 10 positions, calculate each of them manually, minimizing loss, or bringing profit to the maximum. Even experienced traders consider it very good if 7 of the 10 position is profitable. In the long neat game on the Forex it is balanced without any sharp steps and momentary hesitation, the approach to your own positions allows you to extract maximum profit from your investment.

Forex money making

How You Make Money in Forex

In the forex market, you buy or sell currencies.

Placing a trade in the foreign exchange market is simple: the mechanics of a trade are very similar to those found in other markets (like the stock market), so if you have any experience in trading, you should be able to pick it up pretty quickly.

The object of forex trading is to exchange one currency for another in the expectation that the price will change, so that the currency you bought will increase in value compared to the one you sold.

Example:

Trader's Action	EUR	USD
You purchase 10,000 euros at the EUR/USD exchange rate of1.1800	+10,000	-11,800
Two weeks later, you exchange your 10,000 euros back into U.S. dollar at the exchange rate of 1.2500	-10,000	+12,500**
You earn a profit of $700	0	+700

*EUR 10,000 x 1.18 = US $11,800

** EUR 10,000 x 1.25 = US $12,500

An exchange rate is simply the ratio of one currency valued against another currency. For example, the USD/CHF exchange rate indicates how many U.S. dollars can purchase one Swiss franc, or how many Swiss francs you need to buy one U.S. dollar.

How to Read a Forex Quote

Currencies are always quoted in pairs, such as GBP/USD or USD/JPY. The reason they are quoted in pairs is because in every foreign exchange transaction, you are simultaneously buying one currency and selling another. Here is an example of a foreign exchange rate for the British pound versus the U.S. dollar:

The first listed currency to the left of the slash ("/") is known as the base currency (in this example, the British pound), while the second one on the right is called the counter or quote currency (in this example, the U.S. dollar).

When buying, the exchange rate tells you how much you have to pay in units of the quote currency to buy one unit of the base currency. In the example above, you have to pay 1.51258 U.S. dollars to buy 1 British pound.

When selling, the exchange rate tells you how many units of the quote currency you get for selling one unit of the base currency. In the example above, you will receive 1.51258 U.S. dollars when you sell 1 British pound.

The base currency is the "basis" for the buy or the sell. If you buy EUR/USD this simply means that you are buying the base currency and simultaneously selling the quote currency. In caveman talk, "buy EUR, sell USD."

You would buy the pair if you believe the base currency will appreciate (gain value) relative to the quote currency. You would sell the pair if you think the base currency will depreciate (lose value) relative to the quote currency.

Long/Short

First, you should determine whether you want to buy or sell.

If you want to buy (which actually means buy the base currency and sell the quote currency), you want the base currency to rise in value and then you would sell it back at a higher price. In trader's talk, this is called "going long" or taking a "long position." Just remember: long = buy.

If you want to sell (which actually means sell the base currency and buy the quote currency), you want the base currency to fall in value and then you would buy it back at a lower price. This is called "going short" or taking a "short position". Just remember: short = sell.

"I'm long AND short."

Bid/Ask

"How come I keep getting quoted with two prices?"

All forex quotes are quoted with two prices: the bid and ask. For the most part, the bid is lower than the ask price.

The bid is the price at which your broker is willing to buy the base currency in exchange for the quote currency. This means the bid is the best available price at which you (the trader) will sell to the market.

The ask is the price at which your broker will sell the base currency in exchange for the quote currency. This means the ask price is the best available price at which you will buy from the market. Another word for ask is the offer price.
The difference between the bid and the ask price is popularly known as the spread.

On the EUR/USD quote above, the bid price is 1.34568 and the ask price is 1.34588. Look at how this broker makes it so easy for you to trade away your money.

If you want to sell EUR, you click "Sell" and you will sell euros at 1.34568. If you want to buy EUR, you click "Buy" and you will buy euros at 1.34588.

Now let's take a look at some samples.

Previous LessonMark Lesson CompleteNext Lesson

1. How You Make Money in Forex
2. Time to Make Some Dough
3. Pips and Pipettes
4. Lots, Leverage, and Profit and Loss
5. Impress Your Date with Forex Lingo
6. Types of Orders
7. Demo Your Way to Success
8. Protect Yo Self Before You Wreck Yo Self

Read more: http://www.babypips.com/school/how-you-make-money-in-forex.html#ixzz1Qh4PMRPV

eToro

eToro’s Advantages

eToro: Your Investment Network

Simple to use trading platforms

 

Simplicity is key to ensuring everyone can trade efficiently. At eToro we pride ourselves on always keeping simplicity in mind. That’s why we’ve developed flexible trading platforms that provide fast and easy access to the financial markets. We provide a unique combination of simple to use trading platforms – from home and on the go – and the largest social trading network “OpenBook” that appeals to every level of trading experience. That’s why over 1.5 million customers currently chose eToro as their preferred trading platform.

 

 

Social trading

 

Trading and investing with eToro means never being alone. Customers who trade with us can tap into the world’s largest investment network, benefiting from the collective wisdom of our vast trading community when they’re ready to trade. There are many opportunities to interact with our rich trading community, whether through our live chat traders messaging system or through one of the many discussions boards where customers can exchange investment ideas with traders from across the globe. eToro’s social trading network enables every customer to find expert traders to learn from and copy the best ones based on their track record and risk profile.

 

 

 

Responsible trading

 

At eToro we provide our customers with a myriad of tools to guide them throughout their first steps as a trader and to help them trade responsibly. Many customers that are new to the world of trading are unfamiliar with the risks involved in trading. That’s why eToro provides a range of responsible trading features like pre-set leverage settings to help customer’s easily calculate their risk. Our Guardian Angel system is another innovative tool at our customers’ disposal, providing real-time recommendations and advice to support the customer’s trading style and preferences.

 

Learn and practice for FREE

 

We offer a wealth of training, courses and information to help turn new customers into traders. Our courses offer a pain-free introduction to the principles of trading. A free practice account for every customer offers a way to put your newly found knowledge to the test without feeling like you’re stepping into unknown territory. We credit every new trader with US$10,000 in their virtual account so they can practice, practice, practice before they start earning their stripes as a real trader. We also offer a regular series of trading challenges where traders can test their investment strategies head to head against other traders and earn real rewards for their skill.

 

 

Follow And Copy The Best Traders

 

Every eToro customer has the opportunity to See, Follow and Copy the best traders in our investment network by reviewing the trading history and risk profile of a trader and then, with a simple click of a button, copying their trades automatically. Now everyone can trade like an expert simply by copying an expert.

Personal Service for each customer

Every new eToro customer can enroll in one of our exclusive Trader Programs and benefit from our personal service culture. Our dedicated account teams are always available to support your investment needs as and when they’re needed. Receive up to the minute news from key financial news sources and traders insight reports from our own market analysis team. We work hard every day to earn our customers’ loyalty and trust.

A Competitive Offering

eToro customers enjoy some of the most competitive trading conditions around including:

• Up to $10,000 credit on their first deposit
• Low spreads
• Fast withdrawals
• No roll over fees
• No dealing desk
• No commissions
• Islamic accounts

Free Forex Resources

eToro – The Place for All Your Free Forex Needs

Apart from being a revolutionary forex platform, the eToro platform and website is also the best and most reliable resource online for free forex charts, free forex indicators, signals and lessons. Even without a real money account any trader can download the eToro platform for free and use our demo mode to check free forex technical analysis charts and free forex buy and sell indicators, not to mention test out your forex strategies and systems. Here are a few tips on how to utilize eToro’s free forex resources to your advantage.

The eToro Demo Mode

Downloading the eToro program and accessing the demo mode is the best way to gain access to a lot of useful free forex information. While you can utilize the program for training, you can also open it every time you want to check technical charts, weekly and daily forex news and events, and other trend indicators. While eToro does not provide traders with an automated forex trading robot, you can set auto signals that will tell you when to trade. This means that you get all the benefits of automated information without handing over the control over your money to an autopilot program. Forex AI bots and autotraders may sound like a tempting idea but traders are usually better off keeping the control over their money to themselves. The demo mode is also of course the perfect place for beginners to practice their skills. The icing on the cake is that while using all these forex tools for free, you will also be automatically entered in the eToro demo trading contest that can help you score some real forex cash if you beat the competition.

The eToro Website

Aside from information about the eToro platform, our website contains a lot of useful forex information for the benefit of our traders’ education. These include a comprehensive forex guide for beginners in a downloadable pdf ebook format. This simple guide will give you the same base you can get with an expensive forex course, only for free. The online eToro.com homepage is also where you can find the eToro platform user guide and links to our tutorial videos. And if you still can’t tell a scalper from a day trader, micro lots from mini lots, and forex dealers from introducing brokers, we highly recommend that you check out the free forex glossary also available on our website. Remember, becoming a profiting forex trader is no miracle – all it takes is a good education and some hard work. Go to  eToro.com homepage to get started today.

As much as you may find forex e-books and guides useful, nothing beats up to date forex analysis and expert opinion. Our blog builders are top forex advisors who bring you daily forex commentary about all the hot movers and shaker in the forex market. If you can’t spot a trend and the technical charts just don’t line up, you can always head on to eToro.net link to see what the experts are saying. Our advisors bring you a full picture of not just the forex market but also the global economies that influence currency movement, making it easier for you to make those hard trading decisions.