Thread: Do you have some advise?

As newbies it is advisable for us to start with an amount which is not that big, this is an amount in which we can have to afford to lose without affecting our financial status. Knowing forex is a huge market and a huge risk involves, as newbies we cant expect to have a profitable returns in the start but atleast we have the chance to feel and experienced the real live trading. That's why for newbies from the start we should involve ourselve in learning first which is the basic that we should have.

Broker is an important factor in forex market. Trader should choose a broker by seeing their regulation. As a scalper lows spread and fast execution system are essential in forex market. So choose a broker who gives you necessary facility for your trading style. I am trading with CapitalsTrade. It is providing me low tight spreads, high leverage 1:500, fast execution system with no re-quotes and no rejection, swap free account and many more.

Demo account is still the best place to make practice for beginner. By using demo account, we will not lose our money. I also use use demo account in FXB trading to get more experience.

I always give only one advice. Learn before you invest your money in forex market. Forex trading requires specific knowledge and skills. You can not make money just by coming into the market. Another advice is choose your broker wisely. I have picked up FXPM where I get advanced educational resources for study.

Broker is a critical factor in forex market. Trader ought to pick a broker by observing their direction. As a hawker lows spread and quick execution framework are fundamental in forex market. So pick a broker who gives you vital office for your trading style. I am trading with MaximusFx. It is giving me low tight spreads, high leverage 1:1000, quick execution framework with no re-cites and no dismissal, swap free account and some more.

From my experience I wanted to say that every new trader should start with a reasonable amount. So that if they loss in business it will not affect badly. Also many traders stared with leverage facility. But they don’t understand that leverage is the liability, finally trader has to pay the amount. Leverage is very risky so trader should not use it until they have good trading knowledge and experience. I am using the ECN account of my broker. They have high volume leverage facility but still I am not using it.

For the beginners I must say that while working in forex market you should analyze all the aspects of forex trading, before crafting your strategy you have to go through the market conditions as well as your trading facilities given by your broker. that’s why I am trying to adopt my trading strategies as per the trading facilities i.e. low spread, high leverage, 24 hour trading, good bonus, more than 80+ trading tools, etc. given by my broker AAFX.

Brokers serve all essential trading facilities to the traders so it is having a great importance in the case of forex trading. I am currently trading with an STP broker called Forex4you broker from where I have almost all regulated facilities including high leverage like 1:1000, lowest spread level, flexible margin level, lowest transaction cost, no set up fees and overall a high security of funding.

Before descending into Forex I had taken some advice from the seniors. They made me know over some topics. Among them one was to select a broker carefully. Because most of the traders are being harassed trading with several unregulated brokers. They suggested me to trade with an ECN broker. After a long verification I have selected an ECN broker called Trade12 with whom I have both high regulation and high security of funding.