I will also include in this guide information on forex
trading systems that are widely available online along with video's from youtube and other video sources that can help you to get started.I wish you success in your trading, and hope you find this forex trading blog interesting, helpful and enjoyable.
Before you start, please remember:
- Forex trading (OTC Trading) involves substantial risk of loss, and may not be suitable for everyone. Before deciding to undertake such transactions, a user should carefully evaluate whether his/her financial situation is appropriate for such transactions.
- Always ask your Forex dealer (the TRADING PLATFORM you wish to trade with) the questions listed below. Selecting the appropriate Forex TRADING PLATFORM is essential for success in handling your trading and monitoring your activity, as well as maximizing profits, while minimizing losses and costs.
QUESTIONS TO ASK:
When choosing a Forex broker or platform, there are many different considerations to think about, and a lot of questions to ask each of them. Those raised below are presented as a guide you should use in your search for the right broker or platform for you
Personal account management.
Is anybody there? Are there real people behind the phone (or the e-mail box)? Do I have a one-on-one relationship with an individual who knows my account and is able to provide continuity of service online?
Live training and one-on-one help.
Do they offer professional assistance and tools?
Guaranteed Rates and Stop-Loss.
Is it “around” or “near” the rate I set, or exactly on it?
Any software download?
Is the internet platform friendly and easy to use? Do I need to download any software? Am I restricted to a specific computer terminal?
Instant deposit with a credit card.
Am I bound to wait for banking hours, or can I deposit trading margins with my credit card? Will I miss an opportunity if I decide to change the margins in the middle of the night? When I profit, can I withdraw the profits to my credit card account?
Start trading without delay.
How time-consuming is the account set-up process? Can I immediately register, deposit the margins for the deal, and start running?
Margin trading with as little as US$100.
What is the lowest amount I can risk?
Can I Freeze the rate I see?
When I select a rate for a deal, can I "FREEZE" it for a few seconds before I make my final decision?
No hidden costs.
Are all costs readily apparent? Am I charged commissions on trading? Am I charged commissions on withdrawals of profit?
Security and Safety.
What kind of safety and security measures are taken to protect my transactions?
Special terms for frequent traders.
Can the trading terms I am offered be tailor-made to my personal preferences?
Competitive spreads.
How many "pips" are offered in the spread?
Live, real-time streaming quotes .
Are the rates presented the most current? Is the information presented in my account status window updated at the same time so my position is always current?
Refer-a-friend incentive program.
Will I be credited and enjoy benefits for referring friends to the trading platform?
Business partners and reputation.
Who are their business partners? Who is their liquidity supplier? Is it a known international bank? Who do they work with regarding data security?
Full control with online access.
Can I control my Forex account from anywhere on the globe, from any computer, at any desired time, 24x7x365?
Full Transparency.
May I generate detailed reports with the click of a button, as well as track all transactions performed in my Forex account, whenever I wish?
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