bluemac

It is really difficult to come up with a proper trade management plan and then stick to it.

When we want to make profits from forex trading then we have to learn the necessary skills required for earning money.

In my opinion regulations matters but most importantly we should prefer trading with those broker which have some repute in the market.

We should not take risks to that extent which we can't afford to lose so cut the loses earlier before they become too big.

The more efforts we put in learning the more experience we gain and manage our risks more effectively.

There are some other reputed brokers like hotforex, exness, octa, xm, lmfx etc which are also among those who are serving for around 10 years in service.

The new traders should stick with the demo first and learn how the market works before investing their live funds.

Learning is the first step for any new startup so first learn and do not rush into making money as you will make more money after learning.

Higher leverages always claim high damages too if you aren't aware of the market conditions so keep the leverage low in start and adjust over time provided you learn how to use it.

There are many brokers like hotforex, xm, exness, octa, lmfx etc which allows news trading as well as other modes of trading in my opinion.

The major pairs like EURUSD or GBPUSD comes up with competitive spreads in my opinion.

Brokers like hotforex offers leverage up to 1:1000 on their micro accounts and 1:400 on the regular ones. New traders being unaware of the market conditions should keep the leverage low in start as higher leverage can claim higher damages too.

The brokers have to offer competitive services in order to stay in the market in my opinion like tight spreads, quick deposits/withdrawal etc.

Few reputed brokers like hotforex, octa, xm, lmfx etc even allow trading with small funds as low as 50usd in my opinion however do some research before chosing your broker.

Some brokers like hotforex offers leverage up to 1:1000 on micro and 1:400 on regular accounts however the new traders being unaware of the market conditions should keep the leverage low in start.

On 11/20/2019 at 11:46 AM, L Moore said:

In Fx trading the bonuses we get from our trading brokers practically cannot use in a proper way due to many restrictions. So, we have to choose the regulated trading broker, otherwise it is useless to have 100-200% bonuses which cannot use in a proper way due to many restrictions.  

I guess there are always some terms and conditions associated with the bonuses so when availing such bonuses we should first read their terms and those who does not wish to avail bonuses still have the option of opening accounts without opting for bonuses in my opinion.

Anyone visited this broker's website, its seem like they have rebranded it with more option to trade and perks to avail by us in future.

Amount of risk can only be reduced if we use proper risk management in our trading.

Each trader should figure out his own trading style and then focus on building skills on such personality. For instance if scalping or short term trading suits your personality then go for it otherwise stay on long term trading strategy.

There are other factors beside forex brokers in my opinion which affect traders profitability what if we connect with one of reputed brokers but does not knew anything about trading.

On 8/7/2019 at 1:58 AM, L Moore said:

Basically we the traders in particularly the newcomers try to make money very rapidly by using high leverage and practically fall a great loss due to non-sense planning and zero risk management policy, nothing to do with high leverage at all. So, before trading with high leverage we have to know how to manage risk.    

 

We can adjust the leverage any time and some brokers like hotforex offers up to 1:400 on regular and 1:1000 on micro accounts while there are some crazy offers like 1:3000 too in the market from other brokers which seems pretty unrealistic. New traders should keep the leverage low in start coz of unawareness with the market conditions.

On 12/13/2017 at 8:12 AM, CarlosR said:

It is very important to verify that your broker is regulated and that we can dispose of our money all the time and 24/7 attention

Regulated plus reputed in my opinion because there are many bad examples in the past where even regulated brokers turned into scam and took away traders money. So better to get started with those brokers which have at least some repute in the market.

There are many other reputed brokers like hotforex, xm, exness, octa, lmfx etc which allows trading on news and scalping etc in my opinion.

We need to become that much professional so that we can manage our associated risk and make money by risking our own money, remember forex trading is not easy and inherits too many risks.

On 12/2/2017 at 6:06 PM, Natural Mess said:

Yeah, Forex is the biggest market, and it is a good place to make some good money online. But proper amount of knowledge and experience and skills to obtain success in the Forex Market.

Forex in my opinion is a very professional market which does not spare any trader's mistake so it is necessary to learn all the basic skills needed in order to earn money from forex trading.