Top 3 Forex Brokers In The U.S.

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Forex trading comes with its own unique challenges. Once you decide to become a forex broker, you should immediately embark on the task of locating a competent firm that can facilitate smooth and honest trading. In order to achieve great returns, your forex brokerage firm should provide you with formidable forex trading strategies and analysis strategies on a regular basis. In addition, the brokerage firm you choose should be regulated by the right government agency (Commodity Futures Trade Commission and the National Futures Association). Below is a list of top 3 Forex brokers, also know was Forex brokerage firms, in the U.S.

Markets.com

Some interesting features of Markets.com include:

•    Multiple regulating institutions

•    Welcome bonuses for clients with high trading volumes

•    A $100 initial deposit which is quite low

•    Three independent trading packages to go with the client’s expectations and lifestyle

•    A welcome bonus of $2,000

YourTradeFX

This is an internet brokerage and investment firm. They offers the features listed here:
•    An exclusive demo account setup.

•    Losses are ignored during the trial period while any gains over the same period are credited into your account.

•    Trading platforms, various trading tools and education materials are easily accessible online.

•    You are guaranteed to never lose an amount that is more than the initial investment ($100).

Finexo

In a bid to give its clients an advantage, Finexo employs cutting edge trading technology. Other advantages of finexo include:
•    I really like the free demo accounts for new forex brokers.

•    Offers the most popular trading pairs in the Forex market (EUR/USD, EUR/JPY, USD/JPY).

•    Minimum deposits are very low ($100).

•    Three different platforms.

•    A $2,000 welcome bonus.

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Understanding and Using CFD Trading Strategies

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CFD Trading Strategies – The Advantages

Contract for Difference is a derivative used in the financial markets and is a commonly used tool in trading Forex. The CFD is a part of the trading strategies of many Forex traders due to its reliability and effectiveness. There are many reasons as to why the traders use the CFD Trading Strategies.

  • It allows you to hold a position without having to rely on financing. When the day ends, you can hold on to the position you had without taking any actions overnight. It is a great way to continue and consolidate a strong position in the Forex market for any trader.
  • The leverage that you can enjoy is one of the best. There are few other marketing tools which offer you so much leverage in Forex trading. You can trade in amounts far greater than you have in your account, without having to replenish it. This gives you the opportunity to make a far greater profit.
  • The Forex market is the most liquid financial market in the world and the liquidity can be enjoyed by you through a CFD trading strategy. You can enjoy a far deeper level of trading with the increased liquidity that you have.
  • The costs of trading will be lower than the other trading strategies because the commission rates which you will be paying are comparatively lower. This means that you can enjoy the services of a broker without having to pay too much money.
  • Quick movements in the Forex market due to high volatility enable the traders with CFD strategies to make profits without having to sit all day and watching the gradual movement of the prices. They stand to benefit far more from sudden movements.

You get to save time and energy which you would otherwise spend sitting and staring as the information is displayed on a screen in front of you.

How to Use the CFD Trading Strategies

With all these advantages, the CFD trading strategies are bound to be a popular choice for the Forex traders. Many of them have been using such strategies and making hordes of money through it. However, there is no guarantee that you will end up becoming rich by using CFD. There is no defined formula which you can use and make a profit through CFD. The leverage that you enjoy gives you a stronger position than you would enjoy otherwise from which you can use your skill to trade strongly. In fact, you will be able to know when you should enter and when you should exit the market.

The best thing about CFD Trading Strategies is that they allow you to carry over the advantage that you are enjoying from your position today. This means that when you return tomorrow, you will be more or less in the same position on which you stopped yesterday. The maximum effect of this can be seen in borrowing. Any amount you borrow today will have to be paid the next day but the amount of interest that you pay on the borrowing will be the one that was levied when you made the original borrowing.

Small Change, Big Profit

Another benefit is that even a small change in the market entitles you to a great profit. A prerequisite is that you should be in a position from where you can take advantage of the momentum shift. For this to happen, you have to withdraw your profits on a daily basis. A shortcoming here is that the fees and other costs you incur will be deducted from the profits. The amount that you receive each day will be significantly lower than if you waited for it to accumulate for a while before receiving it. However, you will be able to minimize the risk and be in a position from which you can maximize the profit from even a small price change.

Get your Forex no deposit bonus right now! Visit our Forex bonus page to discover more bonuses.

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Learn Forex trading With Demo Accounts

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Any broker who wants your money in a live account will offer you a demo account; it’s the ‘norm’. But is demo trading; and are demo accounts, really required? The answer is a resounding yes. The broker will entice you in with the ability to open a trading account with a very small amount of money; they will offer you lots of leverage. Alarm bells should be ringing in your head at this point – if it was this easy to make money, why isn’t everybody a millionaire?

A demo account and demo practice is necessary for long term success as a trader and there are many advantages to beginning your Forex training on a demo account. Try not to be enticed to the action and excitement of trading real money because as a new trader, you lack the skills required. A demo account will give you the chance to get used to the trading platform and to make silly mistakes. “Whoops I just bought instead of sold” – at least that mistake didn’t cost you anything. “So, that’s how position sizing works”, “Right, now I understand leverage” -those mistakes will blow up your first live account quicker than you could possible believe. Keep your Forex training simple and learn Forex trading the way it will help you the most.

Ultimately, the best way to get the most from your demo trading and demo account is to treat it as real. Admittedly, it doesn’t have the same emotional requirements as live trading, nor the euphoria and excitement. However, it does have the ability to teach you the mechanics and techniques of trading and the chance to create and test a trading strategy, for free.

When you first start to learn Forex trading with your demo account keep a log of all of your trades as you would if it was real. Follow your Forex training strategy entry and exit rules (test that it works). Try to remain as focused and “true to life” as you would if it was real. Otherwise, there is little point in the exercise. Imagine your progress as a trader in stages – your first stage is demo trading. In order to progress to live trading you have to get to stage two. Now set yourself a target in order to get to stage two. It could be based on time such as aiming to go live within 6 months. It could be based on profit, such as aiming to go live once you grow the Forex training demo account by 10%. It could be based on statistics such as aiming to go live once you have done 100 trades with a greater than 55% win rate. It doesn’t really matter too much how you decide. Just make sure you know that you have a vastly greater chance of longer term success if you spend time practicing on a demo account if you decide to learn Forex trading.

 

If you want to Forex learn trading you will need to practice on a demo account. Our Forex training course will provide you with a demo account as soon as you start.

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How I Became A Professional Day Trader

SetForget Pattern Profit

Like many people out there with dreams of hitting it big time in the Forex market, I initially started trading by signing-up to a Forex trading course but with the intentions of retiring not to long after opening my first micro account. Looking back at my journey, it all seems laughable how I genuinely believed I could become a superstar trader with very little experience and beat the professionals who have been in the business for a number of years. However on a serious note, something which I can’t laugh about is the fact that many people still hold on these false beliefs and expectations of retiring early through trading. To clarify this point, it is possible supplement your current income and rely on trading for your sole source of income and potentially even retire. However, it is only after taking all the appropriate steps in terms of learning the relevant skills to acquire the competence and confidence to trade that you will reach your trading goals.

After making a plethora of mistakes throughout my Forex training, I hope to dispel some trading myths and also help new traders avoid the same mistakes I made. One thing which changed my approach to trading as well as my trading results was simplicity. Instead of trying to master every indicator, time-frame and new strategy I discovered from a forum, I focused on choosing a simple approach that enabled me to master a specific set up on one market. With time and experience I discovered that I gained a lot of confidence as my competence and results improved. I put my improved performance down to spending plenty of time mastering this specific set up. That is, by getting as much time chart time as possible I was able to gain an insight and an understanding of how this set up works. Once my first set up was fully internalized, I started back testing and paper trading a new trading strategy (but not before I made sure that I completely owned my first strategy).

To conclude, although this article isn’t meant to be an exhaustive list of steps to take to reach consistent profitability, I hope you have realized that the strategy you use is not as important as your patience, mental attitude (psychology), money and risk management and support you have for trading. The trading methodology you decide to use is only important to the extent that it has a positive expectancy; everything else is more to do with you as a person and how you approach your trading from a mental point of view.

A Forex trading course is the best way to start you career as a Forex trader. Make sure that you continuously exercise patience throughout your Forex training and you should be well on your way to becoming a successful trader.

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9 Things to Consider When Choosing an Online Forex Broker

When you start trading Forex, you automatically become a part of this huge trillion-dollar trading environment. Biggest market in the world, Forex gives us opportunities to gain fortune or experience devastating losses.

If your Forex career is just to begin, there are plenty of things to consider: personal goals, your funds capability, trading strategy, etc. Since there is no marketplace for the FX trading, you must get yourself a broker to conduct the activity for you.

And yet, it’s even more! Both your trading success and broker’s assistance are quite tied up. So here are some important criteria to think of when choosing a FX broker:

1.    Foundation
No secret that the number of online Forex brokers is growing fast. So be attentive and double-check a brokerage before you put your signature elsewhere. As online Forex brokers are not alone-standers, they are commonly backed up by some large bank or lending institution. This is of course the result of high leverage offered. Mostly brokers are ready to please you with 100:1 leverage, which does mean “tons” of money for you to trade. That is why you should check a broker’s back up to find out how strong the foundations are.

2.    Legitimacy.
Know your broker before signing contract and “period.” The legitimacy of a brokerage can be verified through the registration with certain regulatory bodies. For instance, USA brokers must register with national Futures Association (NFA) or Commodity Futures Trading Commission (CFTC).   And there is FSA (Financial Service Authorities) for which controls the United Kingdom brokers. Anyway, the broker’s location does not really matter, except the registration with the correspondent bodies. Look through a broker’s website carefully or study forums to avoid fraud.

3.    Competitive spreads
As your potential broker is legitimate and has funds secured, now you need to find out how good the offer is. Forex brokers earn their “snatch” in the spread, which is the difference in pips between buy and sell price of a currency. Here, we can speak about the difference in commissions if we mention stock market brokers. As a trader you should look for the one with smaller spreads, which is “willing” to give you maximum profit.

4.    Resources and Emotionless Trading
Nowadays, an average Forex broker can offer you a wide range of services. The trading itself is basically done through a broker’s trading platform – you must test and evaluate it before choosing a Forex broker. The platform must compete with the market standard and include real time charts, live news and market data updated, integrated technical analysis tools, etc. Also the trading platform helps you to leave your emotions out by setting Stop Loss and Take Profit points. Sticking to them does much of successful trades. No emotions make your trading cold and calculated. So check of your broker has the features needed.

5.    Leverage Flexibility
This is one of the biggest FX market advantages. Leverage makes a $100,000 transaction possible with only $500 balance in your account. Don’t get too excited! The higher leverage means greater risk. If your capital is limited, higher leverage offers you more opportunities. And if money is not a problem, the saying “Less is more” about leverage is the right one. So check if your broker can please your trading needs.

6.    Account Types
Your trading needs define the necessary account type. You must be sure that your broker offers the accounts you need.

7.    Margin Rules Democracy
Since Forex market, leverage allows us to trade with some structure’s money, we don’t actually have total control over our transactions.  This means that your broker determines the risks you are taking with brokerage funds when you are making a new deal. If a brokerage has tough margin rules, some of your positions may be sharply declined. A margin call is the worst here: a broker can liquidate your account before the position gets a chance to make you profits. As a result, you get huge losses. So check whether your broker has strict margin rules.

8.    Accessibility
It is about customer service and support. Are they accessible enough? No matter the problem you have (technical or general); there must be someone to assist you in the best way. If there is none, you better say, “No, thanks!” to this broker as sometimes low quality customer support can cost you thousands of dollars or more.  Examine this feature before signing for a broker.

9.    Demo Account
Last, but not least. And probably it is the first in order of importance. Before diving into the ocean deep, it’s better to have some training on the shore. Open a demo account to check your abilities. Of course, one might say demos do not indicate the success until you trade real money. It may be true as natural pressures could cause different results. However, trading with a demo account will help to test your strategy and yourself as a beginning trader. Not the best option ever, but it’s worth starting with.

Now you know what to demand from your potential broker. Please, also mind that rushing into the global market could lead to a fail. Be consistent with checking your online Forex broker against the above-mentioned criteria, choose a trading strategy, and master the technical and fundamental analysis to get prepared to play the real money.

This article was written by Alexander Collins from Forexeasystems. He believes that automated Forex is a future of Forex market and propose all Forex traders to try his sophisticated Forex EA. Use Google and search “Forexeasystems Fx Pulse” to download free freebie that shows actual news on chart and has built-in trend detector.

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Forex trading tips and basic qualities of a successful trading

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Forex trading is becoming more and more popular nowadays and it’s no wonder why. When jobless rate is increasing and the chances to get sacked are getting bigger, everyone wants some safe and independent income with a perspective. Forex trading offers exactly that – you can trade at home, you will never be fired, no boss will be breathing over your Shoulder and the perspective is huge. In fact, there are traders making millions out there.

However, there are some issues that have to be taken into account when investing in forex. Many forex beginners open real accounts without any practicing in forex demo account and start trading without any knowledge and plan. The only outcome of this venture, or should I say “gamble” is lost money and time. Some of them experience frustration and have their high hopes crushed before even starting to feel what it’s like to trade.

So, first things come first. If you want to start trading successfully and earn some steady profits you will have to learn much about forex trading strategies, forex indicators, forex technical and fundamental analysis, money management and the like. If you have already started doing so, my forex trading tips might ease the whole learning process and clarify the most important questions.

Second – you have to use some trading strategy. There are many available on the internet, but what’s most important – you must develop and customize your own according to your character, working hours, capital amount and the like. It’s the same with anything else: buying a house, driving a car, fishing or swimming. While some methods work for me, they won’t necessarily work for you. Find your weak and strong points and use them to your advantage.

Third – trading with small amount of your invested capital is the best money management choice in this kind of business. It’s the same with anything else. Nobody builds a house in a matter of two hours or makes a car in a twinkle of an eye. It’s elaborate and complicated work which requires perfect precision and devotion. The process starts by laying brick by brick and attaching small parts to larger and complex compounds. It’s a long – haul process, with the breathtaking and inspiring results at the end. The same is applied in currency trading business. You make progress trade by trade, little by little multiplying your wining positions and accumulating your profit. It’s not about one trade that wins it all – it’s about large number of small trades that make the difference.

Fourth is the most important, though it might not seem such. It’s the emotional control and the ability to keep a balance and stop trading. The best example I can come up with is the casino. If you have ever watched movies about gambling and casinos, there is always a part where a gambler is overtaken by his brief hour of glory and success. What comes next is a direct nose dive into playing with high stakes, when the whole thing must be stopped right away. Blinded by greed, the player plays high until every penny is squeezed out of his pocket or even worse – he runs into debt. So, never let your emotions take over your plan and calculation. Always know when to stop.

These are just basic forex signals and alerts, but I have more than often seen their importance and wouldn’t ever consider ignoring them. Build your trading technique on those fundamental investment pillars and never try to get rich quickly. Instead, try to get rich slowly – there is no rush here.

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