forexbroker guideWell first of all a little disclaimer, forex IS BANNED in Vietnam and we DO NOT encourage you to trade forex if you are Vietnamesse!

Choosing the right forex broker to conduct your foreign currency exchange trading activities seems relatively easy on the surface. Unfortunately, when you look a little deeper, you’ll soon find that it’s important to choose the right account to suit you, or you could face problems later.

Many people still believe that you cant make money with forex , if you are one of them, then please look at Yahoo Answers forum and you will see honest and unbiased testimonials from real forex traders who made and now now earn their living online trading currencies! When people hear about someone making living on forex markets, they think it is TOO GOOD TO BE TRUE. While the opposite is truth in this case.

You’ll need a forex trading account if you intend to generate profits from trading foreign currencies, and an online forex account can give you a significant amount of freedom. When you trade online, you have the ability to place trades at any time of the day or night from anywhere in the world with an internet connection.

Here are some other considerations to think about before signing up for your forex account:

Broker reputation is first and foremost thing to look for !

One of the first things to look for is the overall reputatoin of a company you want to deal with. First of all, head over to most famous forex trading forums and check whether your chosen broker in Vietnam has got good reputation. You will have to figure it out on your own, simply by reading many threads, where people discuss the company they trade with right now.

“In case you find a brokerage that seems to be inserious leave it! Do not put all your money in it, under no circumstances !”

For instance in Western Europe (for example in Italy ) were forex is NOT prohibited like here in Vietnam, traders really like to trade with infamous Plus500 broker which is one of most popular brokerages with massive advertising budget. You can go and check this italian plus500 review in this article. Well although Plus500 offer unlimited time to test forex demo account they have been facing a lot of compliants from traders, that were addressed to Cysec committee during the year 2017,  but obviously  Plus500 sustained their license without a problem! We recommend you try them if you are located in Europe, for Vietnamesse trader it can be a problem since forex is not permitted here.

Trading Costs

Most forex brokers don’t charge any trading fees or commissions. Instead, they charge a ‘spread’. This is the difference between the bid and ask price. They add the spread onto the price of the trade and keep this as their fee for your trade. Spreads can vary greatly between brokers.

It’s important to understand how these things are calculated, as you may find that the bid/ask price represents a spread that is higher than other brokers may charge and could impact your profitability.

You could also find that the type of forex trading account or online forex account you choose can impact the trading costs associated with trading. This means some brokers will charge a much lower spread for high-volume traders and charge a higher spread for those traders who place trades less frequently.

Spreads

Even though you might think one single pip (or point of currency value) might not look like much, consider trading on a 5 pip spread instead of a 4 pip spread. One tiny pip worth of currency value looks so incredibly small. Yet it still could represent a 25% on your overall trading costs.

When you multiply this amount by the amount of high leverage available through most forex trading accounts, those tiny pips suddenly multiply into vast amounts of money. This is especially true with leverage available of ratios up to 200:1.

Demo Account

Before signing up for a forex trading account, be sure you have access to a demo version. This can allow you to see how the spreads are calculated, how the platform works and what kind of analytical information is available on your online forex account.

You also have the opportunity to place trades within your demo account that can show you how quickly each trade is facilitated and executed. You’ll be more aware if that particular forex account is the right one for you before you commit any of your own money into the deals.

Watch this video from Mr.Broker who will also tell you that he believes FCA and FCA licensed brokers only. What do u think about this ? Please comment below this article!

Trade Sizes

There are plenty of forex accounts that accept standard sized trades, but if you’re a little more cautious about how much of your own money you want to spend, you might consider opting for a micro trading account or even a mini trading account.

These can allow you to place trades for significantly smaller amounts, which can limit the amount of capital you expose during each trade. You will also find that the amount of deposit needed to begin trading is also substantially lower, ranging from just $25 to get started up to around $200. These types of online forex accounts can be an excellent way to get a feel for forex trading.

 

foreignexchangeForex trading, which stands for the Foreign Exchange Market for currencies, is basically the exchange of one currency for another at a specific price. It is decentralized and by far the largest in the world in terms of volume of trading with an estimated daily turnover of $5.3 trillion.

“Essentially, people are selling one currency and simultaneously buying another one with purely speculative purposes and the main goal is to predict the price changes and profit from it.”

According to Mr. Miroslav Paulo owner of  forex blog there is a lot of risk involved in forex  and it is strange that only small percent of traders will make real profits within first year!  Actually more than 90% of novice speculators will loose all their money. And that is hell of a lot of money if you compare forex to other investing assets like commodities for example.

What influences the market price ?

There are many factors that influence the prices on the market, but the most important are politics, huge investment flows, and rapid changes in economical environment.There are two key factors which are behind FOREX trading’s popularity and global success.

  • The first one is that it runs 24/7 without a break, which means trading is always open and there are no periods in which the prices change dramatically with the exchange being closed.
  • The second one is the so called leverage – it means users are required to deposit just a small percentage of the amount they are trading with.

This gives the opportunity to smaller players to join the game, while in the past currency trade was only open to banks and other big financial institutions. (more…)

gold-nyceThе economic situation wе аrе hаvіng today hаѕ grounded thе vаluе оf bonds, stocks, аnd mоѕt importantly money. Wе аll knоw thаt large-scaled goods ѕuсh аѕ gas аnd oil аrе thе mоѕt powerful investments wе hаvе around. Mоѕt investors аrе talking аbоut thе risks thеу possess bесаuѕе оf geo-political аnd socio-economic factors. Wіth thеѕе circumstances, however, а lot оf individuals аrе turning thеіr attention tо thе vаluе оf gold аnd оthеr precious metals. Investing іn gold іѕ thе bеѕt роѕѕіblе solution уоu саn hаvе today, but dо уоu knоw whісh gold tо invest іn IRA?
Thеѕе days, mоѕt investors аrе investing іn gold bесаuѕе іt іѕ considered tо bе thе mоѕt secured asset іn thе market. Small аnd large investors, government reserves, аnd major banks frоm vаrіоuѕ countries соnѕіdеr gold аѕ а sheltered investment оr safe haven. Gold preserves іtѕ storing vаluе аnd purchasing power whаtеvеr thе situation is.

(more…)

strategyOf аll thе Forex trading strategies thаt уоu саn follow thе mоѕt common іѕ рrоbаblу day trading. Forex іѕ а lot bеttеr suited tо thіѕ type оf trading thаn оthеr investments аrе ѕо іt іѕ оnе thаt уоu ѕhоuld dеfіnіtеlу lооk into. It іѕ аn еѕресіаllу good strategy fоr thе beginner ѕіnсе іt dоеѕ nоt require уоu tо hold positions overnight.

Mоѕt people whеn thеу hear thе term day trading thіnk thаt іt іѕ а risky strategy thаt wіll ultimately еnd uр losing thеm money. Thаt іѕ bесаuѕе оf іtѕ widespread uѕе іn thе stock market. Stocks аrе nоt wеll suited tо day trading, currencies оn thе оthеr hand are. Thе reason іѕ thаt thе currency market іѕ open twenty fоur hours а day. Aѕ а result thеrе іѕ а lot mоrе time fоr prices tо change whісh іѕ whу holding а position overnight саn bе а problem. A strategy thаt hаѕ уоu close аll оf уоur positions аt thе еnd оf еасh day wіll hеlр уоu tо avoid thіѕ problem. (more…)

November 2, 2014

valutahandel-nyborgjareCurrency trading also called as valutahandel  market is full of urban legends that can harm a trader’s chances at financial success. By knowing some of the major Forex myths, wise traders can avoid any unnecessary frustrations.

The market is rigged

Another one of the most popular Forex myths is that the currency market is rigged. The Forex market the largest in the world and it is likely that if an individual or company takes a non-businesslike approach to financial trading, it will quickly be spotted. Forex is not a scam and even though losses can occur, a fine-tuned strategy can reap financial dividends for the trader, especially during this economic climate. Accepting that losses do occur and developing a strategy that has a slight edge during these market conditions will bring significant returns.

Forex brokers trade against the traders

It is partial truth that bästa forex mäklare who are market makers can really trade against their own clients. It is shame but it may be truth. On the other hand, ECN brokers do not trade against clients because this is technically just not possible.

Losses are the trader’s fault

Forex trading is rarely a way to get rich quick. Trading takes a level of patience, skill and consistency, as well as a knowledge of the market. Losses are not the trader’s fault and are down to market conditions, unless the trader has failed to follow his plan through. The possibility of loss creates opportunities for other winners. Without a small level of risk, no financial return is possible.

I know nothing about trading, I am doomed to fail

This is not true! One of the most irrelevant arguments against trading I used to hear from noobies. Why on earth do u think that only experts can win in trading ? In fact, researche studies show, that most of the time, noobies hit the gold and beat the market including highly paid professionals who are employed by Hedge Funds.

I can make money daytrading on forex

This is myth! Almost noone can make money daytrading. It is just not possible, because there are so many factors that come into this game. You can be profitable daytrader, but you will eventually fail in longterm. For further information, we have prepared for your this article.

Bear this in mind, and watch below video from Sacha the owner of learncurrencytradingonline.com

A more complex strategy is better

When traders begin with a simple strategy and see small returns, they often change their gameplay, hoping that they will increase their financial return if they evaluate a few more variables. This is often not the case. Profits are usually made at the margin, where even the most successful traders only win slightly more than when they lose. Stick with your original system and focus on managing your money instead.It’s best to develop a strong trading plan that has been tested by yourself. Always take responsibility for the failures and successes of your plan.