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Saturday, 30 June 2012

Forex Scalping Brokers

8 Aspects to Check Before You Use a Scalping Strategy

Scalping is a game of capturing the market indications and earning profits in a smaller duration of time. Scalping is a game of seconds so the best broker for scalping is one who must have up to date knowledge and skills so that he can trade in seconds. Normally the brokers are the representatives of traders in the market so you must choose a broker who can easily fulfill your scalping needs and can earn a decent profit for you.

There are hundreds of brokers operating in the retail forex market today; naturally, each has a technical capability, and business model suitable to a different trader profile. But each broker is not fit for scalping. Here we are sharing some features of brokers who are good for scalping with you.

1. Spread must be low:

Most brokers charged their fees on the basis of spread. So spread is an important variable in deciding a broker for scalping. A normal trader mostly opens one or two orders in a day but a scalper opens tens of orders in a short period of time. So spread can affect his balance sheet position. In short we must ensure that the broker we choose for scalping must have low spread.

2. Currency pair offered:

Scalping is the name of earning profit in small chunks of time. Choose a currency pair which you can easily buy or sell. So the currency pair that broker offer should have two characteristics that are volatility and liquidity.

3. High leverage:

Leverage means the return and the risk you are ready to take. The scalper wants to make quick profits. So a good broker for scalping also offers high leverage to the traders so that they can earn a reasonable profit on every trade.

4. Fast execution of orders:

Forex market is a world market so it can change in 0.1 second. Time is most important in scalping. So choose a broker who has fast execution of orders so that he can trade more orders in just one second. In scalping small moment are important so a broker should be such who can judge that moment and also has an ability to execute your order in seconds.

5. The Risk to Reward Ratio:

It is quiet common for scalping systems to risk a lot for a little profit because it is the game of seconds or minutes. So you must choose such broker for which this ratio is favorable.

6. Strong analysis tools:

Market is totally unpredictable in scalping. Scalping involves technical trading because the time period is short in scalping so mostly the market does not follow the fundamental principles. So a broker must possess some strong analysis tools so that he can easily understand the market. A good analysis tool must possess the characteristics of judgment so that when a short moment occurs in market the system can judge it easily.

7. Low commission:

A good broker for scalping is one who charges a reasonable commission for every trade because in scalping the aim of the trader is to earn a low profit but in greater number of times. So the commission should be such that it is always less that profit.

8. Must have strong software support:

Scalping is one of the most popular strategies, and it involves selling almost immediately after a trade becomes profitable. So it is very difficult for brokers to sit all the day in front of the trading screen and wait for a favorable moment. A good broker for scalping is one who uses computer software. So when such moment occurs in market the computer automatically makes the trade.

# Conclusion

Scalping is a game of capturing the market indications and earns profits in smaller duration of time. Low spread and high leverage are the most important features of a good broker for scalping. A good broker for scalping is one who concentrates on the market behaviors and tries to execute the orders fast.

Check the top recommended ECN broker for scalping at www.fxbuild.com.
Good luck!

Good Forex Brokers

Tips on Choosing a Good Forex Broker

After you are confident in the way you will go about trading the forex market, along with the money management rules you will implement, it might be time to find a good forex broker. There are many brokers out there to choose from so, it is worth while doing some initial research before choosing a forex broker. Some things to look out for when choosing a forex broker include:

# Low Spreads

The spread is the main way forex brokers generate their profits. The spread is the difference between the price at which you can buy a currency, and the price at which it can be sold at any particular point in time. When looking for a broker, keep an eye out on their spread costs. The less the spread, the more money you will save and the faster you will be making a profit in a trade.

# Quality registered institution

In the United States, forex brokers should be registered as a Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC) http://www.cftc.gov. They should also be a member of the National Futures Association. You can verify the brokers CFTC registration and NFA membership status at http://www.nfa.futures.org/basicnet/. If the broker is not backed up by a reliable institution, don't bother with them it's not worth the risk.

# A wide range of leverage options

Leverage is needed to trade currencies due to the fact that price movements are only fractions of a cent. In general, leverage is expressed as a ratio between the amount of capital you provide to the amount a forex broker will lend you. For example, take the example of the ratio of 200:1. What this means is that the forex broker will lend you 200 times the amount of money you provide. Just keep in mind the more leverage you use, the more risk there is in getting a margin call, however you also have the potential for larger profits and vice-versa. In general, when starting out with a small amount of capital, make sure that the forex broker you are using offers a wide range of leverage options. This will give you more control over the risk exposure you should be prepared to take.

# A wide range of tools

The majority of the larger forex brokers offer a range of trading tools to their clients. Most brokers can provide you with real-time currency prices along with other various tools. Ensure that your forex broker provides all the tools you need to trade successfully. Other tools could include:
  • Real-time currency price charting
  • Technical analysis tools
  • Fundamental analysis commentaries
  • Economic calendars
The good forex brokers offer two or more types of accounts. For example the smallest account size is known as a mini account. Mini accounts require you to provide at least say $500, and with that you are offered a high amount of leverage. Leverage is required to profit from such small amounts of trading capital. Standard accounts also have a minimum capital requirement, usually somewhere between $1,000 and $2,000. In the end it's important to choose a broker that has the right leverage and services that suit your needs to go with the amount of capital you have dedicated to trading the currency market.

# Customer Support

Forex is a 24-hour market; therefore 24-hour support is essential. Can you contact the firm by phone, email, chat, etc? Do the customer support representatives seem to know what their on about? The quality of customer support can vary considerably from broker to broker, so be sure to check it out before opening an account.

One thing you could do is contact a number of forex brokers to get a feel of how quickly they can respond to enquiries. If they don't respond quickly, and with a reasonable answer don't give them your business.

# Miscellaneous

It's a good idea to talk to other forex traders in an effort to find out who are the better forex brokers out there. As in any industry or business, there are some dodgy ones. Forex brokers are no exception. There are many forums on the internet these days that are dedicated to discussing all areas of forex trading, including the discussion of forex brokers. These are great resources you can use allowing you to find some valuable information that could just save you being ripped off by some unscrupulous forex broker.

# Conclusion

By taking the time and effort to do some initial research, you will be able to choose a reliable forex broker. This might just save you a lot of stress and troubles you may encounter if you were to choose any old forex broker.

Biggest Forex Brokers - Largest Forex Brokers

FXCM is the largest Forex brokers in the world based on its trading volume. This is according to a recent ranking of brokers published by the authoritative financial blog, forexmagnates.com. According to the estimation of analysts at Forex Magnates, in the past year, the average monthly trading volume of FXCM was around 311 billion USD.

Download and read the full report.

Forex was once one of the financial world's best -kept secrets, but no any more. As the largest financial market in the world, it has become more and should have been better known. It eluded most people, remaining the sole domain of the large banks, huge corporations and other financial entities that apparently did not like sharing their information with the world. Now most investors are aware of the global currency market ad there are an ever growing number of accounts being created daily. Investors from all levels are hungry for new markets to sink their teeth into, and Forex (FX) is primed for their investigations.

Friday, 29 June 2012

Interactive Brokers Forex Reviews

I have been with InteractiveBrokers.com for three years. Not 100% trouble free (more about that later) but overall a very satisfactory arrangement.

From IB website: "With consolidated equity capital that exceeds US $2.1 billion, IB and its affiliates ranked as the 16th largest securities firm by Institutional Investor, and the #1 software-based broker and lowest cost broker by Barron's in 2005. Over 17% world's options volumes* trade through IBG technology."

Stocks:

From IB website:"IB SmartRoutingSM searches for the best price available at the time of your order, and unlike other routers, dynamically routes and re-routes all or parts of your order to achieve optimal execution."

A great service. I went prop with a company that offered what they said was lightning fast executions, but it couldn't compare with the ease of TWSs' instinctive smart routing

Futures:

When combined with Buttontrader (a plugin frontend) you have a platform almost equal to x-trader (TT) for a fraction of the price. Trade US, European and Asian markets.

Options:

A complex platform to use, but unbeatable pricing.

Forex:

I used IDEALPRO from the day they offered it and was hugely disappointed. Since then it has evolved to be a very tight spread, liquid instrument. It is shaking up the forex industry because of the honesty of its ECN type executions.

Charting Feed:

This alone should be enough for most active traders to join. I save around $200/month on fees for market data and esignal by using Multicharts (http://www.tssupport.com/products/multicharts/addon/), a sophisticated charting program that can take feeds from multiple sources, with IB feed.

Service:

This is where I have had a few problems. Sometimes livechat is busy or unavailable, emails that are unanswered for over 24 hours (sometimes much less, but you never know). And a phone manner that is almost insulting. I had a problem closing out a Dax trade 2 years ago, so rang the hotline and agreed to pay $30 to have them manually close it out. Got someone on the phone and eventually it was closed out - but it was tough for me to see a $300 positive trade go negative $250 by the time it was closed. I expected sympathy because it was an idiosyncrasy with TWS that caused the problem (not a fault with TWS-it was to do with the way they calculate margin in foreign currencies). However, the service gentleman was offhand.. I never phoned since. This is the US office. The Hong Kong office is said to be better.

Forex Brokers

How to Find the Best Forex Brokers For You

Once you decide to leap into forex trading, there are lots of things you need to learn and understand before you actually start trading live. Assuming that you have invested decent amount of time in educating yourself about forex basics, now is the right time to choose a proper forex broker.

Before you start sorting out good brokers from the average ones, it is important to understand that even the most decent, regulated, professional and user-friendly broker will not make you a profitable trader. Most complaints regarding supposedly unprofessional broker posted on net is actually directly related to the lack of skills of a trader himself. Therefore, I am compelled to emphasize once more that forex education should be on top of your priority list.

Back to broker search! Couple of years ago, the abundance of forex brokers was rather poor. Today it is a completely different picture - the competitive brokers strive to achieve the perfection and welcome new traders to their expanding community.

Among the reliable forex brokers, the web is now full of questionable promises of incredible returns and easy trading. While the truth is that forex is not that easy at all and involves quite amount of risk if you do not possess at least the basic understanding of forex trading.

So, the first thing to look for a broker that:

1. Openly explains the existence of the risks involved in forex trading

The next thing that I find rather alarming is a broker that doesn't give its physical address, doesn't provide online support, doesn't have a direct contact phone number and doesn't answer emails within two working days.

Therefore, the next thing to search for on the selected broker site is:

2. Comprehensive physical address, live online support (and not offline 24/7, therefore leave a message!), phone number (definitely give them a call with a list of questions - even if you know already found the answers!) and email address.

One way of protecting yourself from fraud and possible misunderstandings with the selected broker is to check whether the forex broker is regulated by recognized regulation authority, such as NFA or CFTC. Regulated forex brokers usually don't hide their regulation number. On contrary, to show off their reputation and recognition, you are most likely to find the regulation number on the front page of the broker.

Thus, the next thing on the list is to check your broker for:

3. Regulation authority (in most cases listed right where you can see it!)

You might want to check out different trading platforms, both online and download versions, in order to figure out what suits your trading needs. Some brokers offer both web-based and download (generally, metatrader 4 platform), others have only one option available.

Hence, take time trying out free demo accounts, not only in order to practice your trading skills but also to:

4. Figure out which trading platform suits you best.

Wide spreads means bad broker! Generally, the spread on the majors shouldn't exceed 3 pips. If you notice that your broker is playing games and the spreads are jumping from 2 pips to overwhelming 20, it's time to move on and search for the better forex broker!

Consequently, the next step is to check for:

5. Trading terms and conditions, spreads, payment and withdrawal process, available trading tools and other features you are interested in.

Make sure to make it absolutely clear what your forex trading account comes with, which extra features have fees, what are necessary terms that needs to be met before you can withdraw your welcome bonus etc. The more questions you ask, the less trouble you will have later on.

Being well informed will provide you with a true vision of forex market and therefore five you a chance to make wise and reasonable decisions.

For more information you can visit www.forexvote.com that provides free online forex trading guide and latest forex news with daily technical and fundamental analysis.

Canadian Forex Brokers

Forex Brokers in Canada:

www.fxclearing.ca

www.investtechfx.com

www.fxtrade.oanda.com

www.interactivebrokers.com

www.pfgforex.com

www.cmcmarkets.com

www.questrade.com

www.mfngroup.com

www.velocitytrade.co.nz

www.iamfx.com

www.ajaxfinancial.com

www.tradeviewforex.com

www.investtechfx.com

If you want to start Forex trading or currency trading, one of the first steps that you have to take is choosing a Forex broker. The majority of beginners in Forex usually do trials and errors until they can find the best broker that suits their needs. In order to save time and minimize trials and errors, the followings are several helpful tips that you can use when choosing a Forex trading broker.
  1. Check the registration
  2. Check the mechanism of deposit and withdrawal
  3. Check broker commission
  4. Check whether the broker allows traders from your country
  5. Check the trading platform
  6. Check the reputation
  7. Check the execution
  8. Check the customer service
As final words, take your time in choosing a Forex trading broker and conduct thorough evaluation on several brokers. Your chosen broker should be the one that you fully trust to hold your hard-earned cash. If you apply the above tips when choosing a Forex trading broker, chances are you will find one that suits your needs.

Thursday, 28 June 2012

MT4 Forex Brokers

Why MT4 Forex Brokers Are Better For You

Ever since the introduction of MetaTrader 4 (MT4) by MetaQuotes, many brokers have bought the licensing rights of this platform to provide this trading client to traders under the brokers' wing. Indeed, there are now over 300 MetaTrader Forex brokers, and the number is set to grow. So why is this brainchild of MetaQuotes so popular amongst brokers?

Benefits of going under MetaTrader Forex Brokers

1. Ease of use - MT4, the most popular version provided by almost all MetaTrader Forex Brokers, is very user-friendly. Its interface is intuitively designed and the essentials are all clearly laid out for the trader. For example, in the "Charts" window, the toolbar contains useful tools such as pip rulers and line-drawers to give traders a graphical aid when deciding on the execution of a particular trade.

2. Expert advisors - Expert advisors are programs that execute trades based on a very specific set of rules and instructions. This provides one of the main reasons for the popularity of the MetaTrader platform. The use of expert advisors potentially allows traders to essentially trade hands-off, or at least trade without the influence of greed or fear.

Expert advisors are designed and programmed by a C-like programming language known as MQL4. As such, traders fluent in this language can customize their own expert advisors or create them from scratch. These expert advisors will, in essence, mimic the trading behavior set up by their programmers, determining the viability of a trade based on only logic alone.

3. Free-of-charge - The MetaTrader trading platform is free-of-charge. This means that you can download the trading platform from any MetaTrader Forex Brokers or directly from the MetaTrader webpage itself and run it on your computer without paying a single cent.

4. Vibrant MT4 community - The MT4 community is an active one. Many programmers have created and sold expert advisors to traders and these traders actively review the utility of these expert advisors. In addition, MQL4 programmers frequently create custom indicators, and share them on various Forex forums. This has led to a thriving market for pre-made expert advisors and has also led to the creation of many expert advisors and custom indicators for the community.

How do I start trading on MT4?

As mentioned, it is free-of-charge to download MT4. However, you can only trade in Forex with this platform by going through a MetaTrader Forex Broker. The broker will act as the middleman, consolidating and executing orders from traders. Luckily, because of the popularity of MT4, most major Forex brokers, such as Oanda and AvaFX will allow traders to trade through MT4 as well as their own in house developed platforms.

It is therefore no wonder that MetaTrader is currently the most popular trading platform with financial traders. With so many advantages from using this platform, the reason for the abundance of MetaTrader Forex Brokers is self-explanatory.

To find out more about using MetaTrader brokers to help automate your Forex trading and for a selection of top Metatrader Forex broker offers, visit the independent automated Forex trading review site at www.fxsystemtrader.com, Good luck!

Forex Brokers in USA

A USA Forex Brokers Comparison - Forex.com Vs FXCM

There's no question that US-based Forex traders have fewer brokerage options than their international counterparts. Nevertheless, there are some fantastic choices available in the US, including Forex.com and FXCM, two long-established, internationally acclaimed brokerage houses. If you're looking for an NFA regulated Forex broker, you'll want to evaluate these two choices among any other options, and you can start your research with this top US Forex brokers comparison.

FXCM, short for Forex Capital Markets, is a no dealing desk Forex broker that offers two distinct services. DailyFX, a news service, provides regular financial news to Forex traders worldwide, while FXCM itself offers trade executions on multiple platforms with competitive spreads. For US traders, leverage is restricted to 1:50 because of NFA regulations. Specifically useful for new traders may be the company's free online learning seminars that are offered on a regular basis. Experienced traders will appreciatethe company's fractional pip pricing and non-dealing desk nature, which ensures that the brokerage will not take the other side of your trade. Partnerships with top banks enable FXCM to have fast execution and respected trading conditions.

Like FXCM, Forex.com offers a comprehensive education center for new traders, though the company's focus is undoubtedly on its wide range of products and services for intermediate to advanced traders. From premium market research and analysis to advanced charting packages such as Trading Central, Forex.com offers excellent options for those who enjoy trading the news or technical Forex trading strategies. Like FXCM, this US Forex broker offers both its own proprietary trading platform as well as the popular MetaTrader4 platform, so that traders trade in a platform that is entirely comfortable. Over 40 currency pairs can be traded at Forex.com, to meet the needs of nearly every trader.

Forex.com is a subsidiary of Gain Capital, a company that is publicly traded on the New York Stock Exchange. FXCM is also a publicly traded corporation. Both companies have offices worldwide and are regulated differently in countries outside of the US. It should also be noted that both companies have been fined by the NFA in recent years for slippage malpractice, or, in other words, for not making price improvements available on all orders. Both Forex.com and FXCM, however, did try to correct their poor behavior and to atone for their wrongdoings.

The best way to embark on a US Forex brokers comparison is to try each one and experience it for yourself, and both FXCM and Forex.com offers a free $50,000 practice account which is available for all of their trading platforms.

See also www.dailyforex.com that provides you with all the resources needed to succeed in Forex trading.

Forex Introducing Brokers

Benefits of Using an Forex Introducing Broker in Forex Trading

Unfortunately, most of Forex traders never heard about what is an Introducing broker. That's why we decided to present you in this article all the benefits you can get by opening your account with an "IB", instead of using a direct Forex broker's online form.

First of All, these kinds of companies are most of the time only Broker's approved teams but you have to verify what kind of benefits you will get by signing a free membership through their services.

Actually there are some people that are only affiliates, using a special link to drive you into the dedicated page on the broker's website, okay, this may be useful and profitable too, but for them only, of course!

They stand as only customer providers, the one and only profit you get is to find more easily a broker on the Google, yahoo and similar search engines...

Let's now enter in the real Introducing Broker family by explaining you why you must search and find an "IB" that will drive you to profitable Forex Trading.

In Fact, the most important benefit you will get is, of course, an additional income added to your trading account at your broker. But this is just one part of the Iceberg you will be happy to find.

Let's list the 10 benefits of using an Introducing Broker in Forex Trading below:

1. You will get Bonus, Rebates, Cash back, and many other special offers that you can't find on the broker's website you are interested in.

2. Teams in the most famous ones will assist you in the opening procedure, by being in a constant relation with a dedicated account manager at the Broker.

3. They can provide you great quantities in links, advices and addresses to understand what is automated trading, Forex expert Advisors (automated Trading Software), to allow you to maximize your profits and avoid technical issues.

4. They perfectly know everything about the broker they are working with, in order to prevent you from making mistakes in your trading acts everyday.

5. They stand as a real precious link between you and the Broker in case of problem with your account, financial or technical issues and so on...This is the most important benefit from using an IB...

6. An IB is constantly monitoring your activity, to be able to warn you from making mistakes ( too many risks in your strategies etc...) but All your financial in formations can't be given to the IB by the Broker without your agreement ( to calculate your bonus, cash back, etc..).

7. When you decide to sign with an IB, you can verify his integrity by asking the broker regarding their official activity and the license they use to deal with the broker's products.

8. An IB will also give you all information you need about the broker's reliability but also a proof of regulation in order to allow you to comply with financial laws.

9. An IB has only one goal: to make you win more money because it also allow them to win money, but as a service provider, you can ask them any question that you don't want to ask the broker for any reason.

10. Finally, some Introducing brokers also provide you Newsletter and free Membership to keep you constantly in touch with special offers, bonus and additional affiliate links about products that can help you to improve your results in trading.

So, as a conclusion, you should now think twice before choosing a Forex Broker, the game worth it, not only to give you a chance to become rich, but even if you are a newbie or an addicted Forex trader, you should use an Introducing Broker to minimize risks in Trading, this is the most important thing in every Financial games.

Wednesday, 27 June 2012

Regulated Forex Brokers

Reasons To Choose a Regulated Forex Brokers

When it comes to selecting a Forex broker there are many criteria on which you can base your decision including the brokers trading platform, currency spreads and the levels of leverage available. These can make the decision as to which broker to choose difficult. However the most important factor in your selection process is to ensure that the broker you select is a regulated Forex broker.

What it Means to be a Regulated Forex Broker

Regulated Forex brokers have membership of a regulated financial authority. This requires that their company activities are monitored and that they adhere to a strict set of criteria set out by the regulatory body in order to run their business.

In order to become regulated a Currency Brokerage firm will need to meet and maintain a minimum set of requirements on an ongoing basis. These requirements include maintaining sufficient financial assets to ensure the continued operation of the company and also following strict operational standards and procedures as defined by the authority.

Part of this regulation requires them to maintain transparency in their financial documentation. They will also be required to submit detailed financial reports and can be fined or have their membership terminated if they fail to do so. Failure to comply with guidelines set out for this documentation can also lead to similar penalties.

Why You Should Look For a Regulated Forex broker

Regulated Forex brokers have to adhere to a set of guidelines which are designed to help both protect and maintain a level of service to the client. They are also accountable for their actions to the authorities of which they are members.

A key point here is that client deposits are held separately from company funds. Regulation dictates that client deposits cannot be used to fund the broker's operational activities which help to ensure the safety of your money. This also offers protection to the client in the event that the broker goes bankrupt as funds held in the client account cannot be used to pay back creditors.

Regulations also apply to areas such as the personal information held of clients, quality assurance standards maintained by the broker, monitoring of fraud and customer service and support.

How to Check That a Forex Broker is Regulated

You can easily find out if a Forex Broker is regulated As a results of previous problems in the market place, most regulated Forex brokers will now detail their regulatory status on their website. They will also list any applicable membership of other financial authorities.

The actual body that a broker is regulated with by will vary on the country of jurisdiction of the Forex broker. Countries with dedicated regulatory agencies include the USA, UK, Euro zone, Japan, Australia and Switzerland.

Examples of regulatory authorities include the National Futures Association (NFA) or Commodity Futures Trading Commission or (CFTC) for US brokers, the Financial Services Authority (FSA) for UK based brokers and MiFID and CySEC for Euro zone brokers. You can check the full regulatory standards on the regulatory authorities' website.

A broker is not required to have membership of multiple regulatory bodies as each of these bodies will help to protect against fraud and manipulative trade practices. It is however important that the broker that you select is a member of at least one.

So when you come to choosing your broker take time to make sure that your Forex broker is regulated. At the very least you will ensure you receive service based on a regulated set of standards and if the worst happens and your broker suffers financial difficulties, your deposited funds will be protected.

You can visit www.forextechnicalchartist.com to find a recommended regulated Forex broker and for all your Forex needs.

Forex Brokers Rating

The world of forex trading has become an obsession for many people around the world. Today, more and more people have become involved in propelling the foreign exchange market into one of the largest markets the world has ever seen. Every year, this market has generated billions and billions in profits.

This has favored those who have been trained well in the craft as well as those backed by a good forex broker. It is obvious than that a large part of the investment relies upon making sure that you seek help from an experienced broker that has received high ratings and feedback from the community.

One might ask the question: what makes a good forex broker rating?
The answer is simple: feedback.

As the market has become more and more lucrative, more and more individuals have set their sights on getting involved as a forex broker. One might be surprised as the number of these individuals has suddenly spiked spike over the past few years. In fact the number of brokers could even be high enough to rival the number of investors in the playing field.

The main responsibility expected of a forex broker is to provide direction to those who decide to become traders in the market. This means that a broker is expected to know which decisions will necessarily yield the greatest amount of profits at the end of the day. The best brokers are the ones that are able to make the right decisions. This includes skills in analyzing historical forex charts and also having the capability of predicting the motion of currency pairs and the market as a whole.

Forex broker ratings are usually made available online. These public documents seek to give you a guide in order to assess whether or not the service of a so-called broker is indeed worthwhile. The ones that have been in the business for quite some time are usually the ones that have the highest broker ratings. This is because they are the ones that are likely to have received the most amount of feedback coming from traders that they have experienced working with in the past. Good feedback is usually what brings about good forex broker ratings.

For those new in the field, it can be an option to use a dummy account in order to test the level of skill your prospected broker possesses. These dummy accounts are a good way for new brokers to learn the business.

Visit www.migbank.com to request a free demo account from a leading forex broker to try before doing it for real.

Forex Brokers List

A Forex brokers list is one type of directory that recommends information regarding foreign exchange market professionals and their services. The main purpose of a Forex broker List is to save time for investors, dealers, and individual traders who are seeking partners. All the information regarding company listed on web page will be moderated. So, one can say that it offer correct information about their Forex broker Company and services at least at the moment when information was placed in the Forex brokers database.

The term Forex Currency Exchange means exchanging of one currency for another in foreign exchange market or Forex. Forex market is sleeted seeing that the largest market for trading in the world with an average daily trade of more than US$ 2 trillion. Everyday, new investors are jumping in the market with the motto to earn substantial profit. Foreign Exchange Traders, who are knowledgeable in this field, can definitely earn high return on their investment. In some cases,they fail to earn anything great in the market because of lack of information and awareness regarding a winning foreign exchange trading.

Day by day, people are getting interest in Forex trading due to this; they are joining Forex Online Training. Currency trading Forex courses are seems to be awesome. The hard work which comes out from the Forex training courses are proven logical, powerful, and robust and well presented methodology. In Forex training courses, the strategies are being taught honestly have paved & lighted the Forex trading path. They also give information regarding how to turn the dumb money into smart money. One of the required services for Forex is foreign exchange brokers service, where currency needs of corporate and private clients. The main role of broker is to attain the best rates for their clients.

Comprehensive market information has been accessed by Foreign exchange brokers, which provides real-time foreign exchange rate data as well as news and analysis of an extensive assortment of events that can effect currency rate movements. Across the world, thousands of people transfer their money for some reasons like buying international property, emigrating, purchasing a high value asset such as yacht or car abroad. To do this, they require foreign exchange expert.

Refference for Forex Brokers List:

www.erforex.com
www.forexbrokerz.com

Tuesday, 26 June 2012

Brokers Forex

Guide to Selecting a Platform

In addition to providing simple web-based trading capabilities, brokers have platforms that generally have more in-depth information and functions than the website. However, selecting a broker and selecting a platform can be two different worlds. While a specific broker might have a lot of the characteristics you are looking for, their platform might be expensive, not comfortable for you in its interface, or not appropriate for your computer's operating system. Given the vast amount of platforms available, this Brokers Forex Guide suggests that it is imperative that each investor and trader finds a way to try a number of different platforms before subscribing. Many of these platforms offer exceptional bonuses as described on this Fox News article.

The platforms generally reflect the web-based trading system of each respective broker, but considering that this will be the vehicle that moves your money and executes trades for you, give each at least a once-over. This list shows the best trial accounts rated by experts. Joining can be done fairly simply be signing up for a platform and using the trial account to see how it feels using the system. If it does not feel good from the start then you can move on to the next, there is no reason to "get used to" a platform given the amount of platforms available.
  • What are the commissions? Just as small percentage points in market data analysis can be a huge factors that dictate whether or not to make a trade, so too can small percentage commissions be substantial amounts of money. This goes along with bonuses: many platforms offer bonuses on the first deposit into an account. As you can see, there are two very different sides to broker platform approaches. Some are more intent on making money up front from the client while others are confident with their platform product enough to not have to lock-in earnings from users.
  • What is the minimum account balance? When you have a good understanding of your budget, you can immediately identify which platforms are beyond your means and which do speak to your wallet. Many novice to intermediate investors are beginning their trading careers with small amounts of money and can not commit so much, while expert investors with bigger pockets can shell out the cash up front for larger account balance minimums.
The CFTC has listed that 50:1 on major and 20:1 on minor currencies will be set. Forex market trading is often hinged on leverage trading, which is where many believe the excitement is found. The adrenaline from the risk is what makes a lot of people enjoy trading on the Forex market; leverage only puts that adrenaline ride into turbo speed. If your trading style requires a large leverage ratio, then make sure the platform provides that. However, if you do not need a large maximum leverage amount, then you can focus on other factors of a platform such as the currencies accepted.

Most platforms are run on the US dollar and Euro, but many accept "all major currencies." If you are planning on trading with currency aside from the USD or EUR then make sure that is available, because if not, many platforms charge fees for currency exchange. There are many excellent platforms available, it just takes a bit of time to find the right fit for you.

Forex Options Brokers

There are basically two types of brokers for forex trading. One type is providing online tools like trading platform and charting software for traders to trade the market. Another forex broker is trading via telephone to place orders through a dealing or brokerage desk. Not much of these forex brokers have both online and telephone trading options available together. It depends on what are the needs of your trading, you will have your own choice of broker forex option. Here you can see some reasons why you will choose certain forex brokers for your choice of forex options brokers.

Different brokerage will have different minimum trading account deposits. Some may very from as low as very hundred dollars to as high as few hundred thousands. Depend on your trading amount preferences, this is one of the point that you can consider for your broker forex option.

Some type of option contracts allows you to enter and exit the market as and when you wish while some of them holds your position until the expiry date. Making the wrong choice and you can be stuck in a way that you cannot close your trade. You should check out on the option brokers about the various trading account minimum, required contract size minimums and contract liquidity.

What are the trading tools that your broker can offer you? A brokerage giving you good offers but does not have good tools to offer for trading is just as useless. You will need good charting tools to trade with so that you can make accurate decisions on every trades. This is an important factor for your broker forex option trading.

Whichever broker you have chosen is your own choice, it should suit you well and make your trading experience comfortable. You should also check out forums and blog on the review of these brokerages to ensure you have made the right choice of your broker forex option trading.

See also www.gaikakawase.com for free forex course.

Top Rated Forex Brokers

Who Are The Top Rated Forex Brokers?

That my friend is a loaded question and can not be answered easily by just asking the question "who are the best or top rated forex brokers"? There are so many factors that go into selecting the best or top rated Forex Brokers it is almost mind numbing. The longer you are in the forex arena the more you realize just how important choosing the right broker could mean. It could be quite literally the difference between winning or losing your entire trading capital.

I have been trading in the Forex arena for over 7 years and still to this day the #1 all time question asked by junior traders as well as seasoned forex traders is "what forex broker is the best for me"? If you are just starting out looking for a forex broker be very, very careful! This is the single biggest factor, next to how many lots to trade and money management, you will ever make. This decision alone haunts every forex trader before and during their tenure in this financial marketplace.

Everywhere you look, on every website that talks about forex trading almost every promotion is for Forex Brokers. Why, because a lot of forex brokers make a fortune off of unsuspecting clients looking to make it rich in the forex marketplace. Some are even unregulated, can you believe that? But which is better unregulated or over regulated as which we have in my country the USA? Unfortunately the United States has just implemented some of the worst and most suppressive regulations in history. These new regulations make it literally that much more difficult to except to make any money in this financial environment.

Do you know what FIFO is? Or hedging? Or scalping? These are extremely important factors that will shape your decision on what forex broker is the best or top rated for you. Also what is the spread? And did you know some brokers bet against you on your trades? Once you know these answers you will begin to figure out what broker is right for you. Good luck!

Monday, 25 June 2012

ECN Forex Brokers

ECN is the abbreviation for Electronic Communications Network. ECN Forex broker is therefore a special type of forex broker that additionally allow several different clients' orders to interact with each other. The interaction is very significant and has proved very beneficial for most forex traders. This way, these brokers offers special marketplace allowing different participants to trade against each other directly. Apart from allowing different clients' orders to interact, the ECN Forex Broker shares other features in common with other type's forex of brokers.

Features Of ECN Forex Broker:

# Depth of market display

This feature does not allow the dealer platforms to display the available market liquidity. It only allows the FXCC to show volume which are available at best bid and offer.

# Anonymity

They allow anonymity on dealer platforms. The dealer thus knows exactly your trading style and tactics, open positions. He can also use the information provided for his personal advantage.

# Trading during economic releases

This actually allows all traders irrespective if the size of their trade to execute trades and also place new orders within key economic releases. Usually bid/offer spreads gets wider during economic releases, and during unusual market volatility.

# Client-To-Bank Trading

ECN Forex Broker allows client-to-bank trading on the FXCC ECN so you can trade instantly using prices which are streamed by leading FX banks.


Using ECN Broker To Benefit Your Trading:

# Anonymity of your trades

These types of forex brokers use anonymous transactions when buying and selling. Trading through ECN ensures that all your trades and account identity not released hence you cannot be traced. Most traders like this protection of privacy hence would choose ECN brokers.

# Ability to be your own market maker

With the ECN Forex Broker you have everything it takes to be your own market maker. You can ultimately make your own market or simply act as a market maker when using these brokers. They allow you to place an order just between the bids and ask spread.

# High price volatility

Prices used on ECN are not fixed. You can experience several large price swings in a short time especially during volatile trading periods. You can claim quick large profits during these volatile times if you are a scalpers or short term trader.

# Improved execution of trades

They are designed to provide the most improved and advanced trades execution. Understand that you're not in any case trading directly with your ECN broker but simply using the network that they provide. The network is solely focused on matching up all the orders while the opposite side is held by a different market participant.

# News and Event Trading

This type of trading is very ideal for news and event trading. This is very useful when the market is become extremely volatile. You have access to many institutional liquidity providers in the market. This also allows you to get orders successfully filled even in very volatile situations.

# During highly active trading periods you are not tied to spreads

With ECN, spreads are not fixed hence you will not be tied during highly active trading periods. Every currency pair display continuously varying spread depending on the actual volume traded. This also depends on the available liquidity that can effectively support the trade. This is because the ECN broker usually gets their pricing feeds from different multiple institutional markets.


Pros and Cons of ECN Forex Broker


Pros:
  • All the transaction are carried out over-the-counter (OTC) worldwide.
  • ECNs provide currency prices from different market participants like banks and market makers
  • They use the best bid/ask quotes they can afford to offer basing on these prices
  • They show decreased risks of price manipulation since they don't determine prices
Cons:
  • The exchange rate of any currency pair can differ significantly because the system is decentralized
  • They enforce forex traders to pay commissions for each transaction
  • They use variable spreads between bid/ask prices so calculating stops in advance is harder

Conclusion


Due to their great connectivity features, ECN Forex Brokers are the best choice that you should choose if you want to be successful with forex trading. Besides the free interaction between client orders, these brokers offer a wealth of other features that make your trades hassle-free.

Every trader can benefits from low spread and a true ECN account complemented with DOM data is the best way to achieve it. You can go to on www.fxbuild.com and check out another good recommended ECN broker.

MetaTrader Forex Brokers

MetaTrader 4 is increasingly becoming one of the most popular Forex trading platforms available. As a result there are now a wide range of MetaTrader 4 Forex brokers to choose from. While some brokers have introduced the platform in parallel with their own platforms, increasingly many are becoming solely MetaTrader 4 Forex brokers.

Below we highlight five reasons as to why you should explore the MetaTrader 4 platform prior to deciding on which trading platform use.

1. Forex Brokers allow MetaTrader 4 to be downloaded for Free

The MetaTrader 4 trading platform can be downloaded for free. You don't even need to open a live account to try it out as most brokers will offer a free demo account for you to trial. This enables you to test out the platform and get used to its functionality without the requirement to open a live account.

2. MetaTrader 4 is a complete Forex Trading Portal

The MetaTrader trading platform supports a range of chart types in including bar, linen and candle charts. The premium charts offer real time price updates and can display data in multiple timeframes for each currency pair.

Furthermore many MetaTrader 4 Forex brokers will also provide quality newsfeeds from Reuters or Dow Jones newswires for example. These are feed directly into the platform which helps to make MetaTrader a one stop dealing platform for serious Forex traders.

3. MetaTrader 4 Forex Brokers provide trading indicators

Most brokers will supply the platform with a large range of trading indicators to be used on the platform. These include both common technical indicators including moving averages and oscillators to more advanced trading indicators. These are easily applied directly to the chart and will update in real time.

More exotic indicators are available and if they are not provided by the broker they can generally be downloaded for free from the internet and installed on your platform.

For those who are experienced in programming the interface also allows you to program your own indicators and strategies and carry out full backtesting.This is something that few other platforms offer.

4. MetaTrader 4 Forex Brokers allow Scalping and Hedging Strategies

This is increasingly the case. Many brokers are also now tolerant to the use of 'Expert Advisors' or EA's. These can be loaded into the platform to provide complete trading strategies with both trade entry and exit signals. Some allow complete automation of a trading strategy on your account and can simply be left to execute 24 hours a day.

Both commercial and free EA's are available. These have proven particularly popular among traders looking to add a further dimension to their trading and boost their returns.

5. MetaTrader 4 Is a Common Forex Broker Platform

Because MetaTrader is so widely used you can easily run multiple accounts across different brokers and still use the same platform. This also means that you can easily move an indicator from one MetaTrader 4 Forex broker account to another. Similarly any templates or Expert advisors that you own can easily be copied across or reused.

An added benefit is that you can switch from one MetaTrader 4 Forex broker to another without having to familiarize yourself with a new trading platform. You can visit www.forextechnicalchartist.com to find out more about the best Metatrader 4 Forex Brokers.

Online Forex Brokers

Choosing a online forex broker is important in maximising your trading profits and making sure your trading experience is smooth. Here you will find a checklist so that you can find a broker that will maximize your trading experience.

1. Execution Only

Your broker is only there to help you transact your orders and make sure your account runs smoothly - they should NOT give trading recommendations.

Many novice traders think this is a good idea and their broker knows best, however if he could make money trading he wouldn't be a broker!

Brokers are there to transact orders and that's all. If you don't take responsibility for your trading you won't win.

2. Look for tight spreads

This is your cost of doing business and the less you pay the more of your profits you get to keep. Look for spreads from your forex broker of 3 - 5 pips for trading the majors.

There should be no other commissions or fees - make sure the spread is all you pay.

3. Leverage

Look fro leverage of at least 200:1, although many brokers will offer you more and some go as high as 400:1.

4. Trading platform

Check it out and see how useable and reliable it is and that you get 24 hour support, if you need it at anytime for any problems you may encouter - not all brokers offer 24 hour service so beware.

5. Ease of funding and minimum investment

Today, many forex brokers will let you fund an account online with as little as a $100.00.

If you are a novice starting small is a good way to get your feet wet. These companies also allow small minimum trades. If there are online payment facilities, you can fund your account quickly and equally get your profits back quickly.

6. Guaranteed stops

If you are a novice trader and worried about the unlimited liability that margin trading presents, you may want to guarantee your stop and there are many brokers who will provide this comfort for a fee.

7. Extras

A forex broker is not there to give you trading advice but it is nice to get extras such as demo accounts, free newsletters, reports and other educational material, which can help you improve your trading - You will find many brokers who offer a lot of extras and if you are new to trading they are well worth having.

Your forex broker is important and if they provide all of the above in terms of service, you should be able to maximize your trading experience and profitability.

Sunday, 24 June 2012

Forex Brokers Comparison

Forex Broker Comparison - How to Compare Forex Brokers

In Forex trading, you will find that there are many brokers available to give you their seasoned advice over steps to take when trading. While there are many that are experienced, choosing the best one will give you the leverage over others in this game. Here are some factors you should consider when comparing for the best broker.

Before heading to the factors, it will ease your work to look for a Forex broker comparison list. This list will give you a summary of each broker in their different factors, which you can look out for.

1. Safety

Safety is one of the most important factors when choosing the best brokers because you know that the money that you invest in and your personal information are in safe hands. Safety is usually determined by a firm's credibility, which would be represented by the seal of the Forex regulatory body a country holds. For example, the US's regulatory body is the NFA or CFTC. Some countries will require the firm to obtain a license as an approval.

2. Cost

Money is involved when it comes to hiring a broker. Before anything, you will be required for a starting deposit. While you may be attracted to lower deposits to reduce your losses as a precaution, a typical deposit between $1,000 and $2,000 tends to do well in the market. In the case of earning money, brokers usually ask for commission from their clients. Different brokers will ask for different rates and depend on the bid and ask price once the trade has been finalized. However, there is also no-commission brokers that will charge based on your spread instead.

3. Currency used

The currencies used by the broker in the dealings should be similar to yours, as this would make it their field of expertise. If the currencies a broker deals with do not match those that you intend to trade with, even if they have a good reputation, you should forgo them and select one that does. The idea is to find one that is familiar with the trends of the right currencies so that they can analyze and forecast as accurate as possible.

4. Customer service

It is important that you will be able to reach your broker whenever you need to forward a question or specify a need regarding the trades. A good broker will always be there on standby, yet is courteous in listening to your problems and answering them. Even if they cannot give you an immediate response, they will get back to you as soon as possible with a solution.

From the Forex broker comparison list, see which suits your criteria and further research on it by looking at reviews from review sites and forums. The best is always one that you can feel assured with.

You can visit www.erforex.com to read more details about forex broker information comparison table.

Compare Forex Brokers

Some Factors to Consider in Comparing Forex Brokers

When you will decide to start the trading on forex, the first task faced by you is to compare forex brokers to choose the right broker for your trade. The success of the traders in forex is directly connected with the scope of facilities provided by the broker. There are no fixed rules for the comparison of forex brokers but one thing that you must concentrate on is the proper research and the study of important indicators.

Here are some tips about important indicators which provides you help in choosing the right broker. You can also assign weights to every indicator and then give marks according to the facilities provided by the broker.

1. Minimum deposit to start:

Most people don't want to participate in risk at the beginning of their business. The start up cost of forex business must be low. This helps the small traders to enter in the market. The tolerance level of trader decides the level of capital invested in the business because a person invests according to his tolerance limit of risk.

2. Broker's commission:

Usually in forex market, the brokers charge you a commission for every trade not on the basis of information provided by you. Low commission will results in higher profits. In the comparison of forex brokers, commission can be an important decision variable.

3. Spreads:

Difference between the buying and selling price is called the spread for that trade. The lower spread will increase your chances of success because it allows trading more lots. The larger the spread, the lesser the amount that you get. Ideal spread is between 2-5 pips.

4. Leverage:

The trader decides its leverage according to his nature. Leverage is the amount of return and the risk which you are ready to take. It follows high risk; high return principle. If a broker is offering high leverage that mean the gain on your investment is high but it involves a great risk. So to compare forex brokers consider the leverage on the basis of your risk bearing power.

5. Software support:

Many brokers provide software support to their traders which help them to keep in touch with the market. A good forex broker always provide software support to its customers according to their behavior and trading needs.

6. Currency pairs offered by the brokers:

In forex trading you can trade in many currencies. You can also choose your home currency for trade because you have greater knowledge of it. But the brokers who allow you to trade in a currency pair much which are more volatile are always ranked high among others.

7. Minimum trading size allowed by brokers:

Again it will depend upon the nature of the trader. Some traders want to trade mini-lots, while others prefer to trade large. You can choose a broker who best suits your needs.

8. Customer support provided by broker:

Most of the traders who enter in the forex market need support and guidance's for their first trade. So to compare forex brokers, give high marks to them who provide a 24*7 support to their customers.

Summary:

Without comparing first, you may trade without all the advantages you should have, so make sure you compare a number of forex brokers before you decide on which one to use. You can use the parameters such as initial deposit, spread and leverage as your base in selecting the right broker for you.

Is the number of the brokers confused you? You can visit fxbuild.com to see the details of a recommended STP broker.

Best Forex Brokers in USA

Is eToro a Best Forex Broker for USA Residents?

Finding a good and reliable Forex broker isn't an easy task. There are many stories about traders who had trouble withdrawing funds from their brokerage accounts, others tell tales of unstable trading systems, lack of support, and plain unprofessionalism. Let's just say that working with a bad broker can be a horror story.

Etoro is one of the most popular brokers in USA and in the world. Is it really good? Is eToro a broker worth working with?

There's little doubt that eToro is one of the best, if not the best, brokers for new and inexperienced traders. Its graphical platform allows new traders to ease into the world of trading and to find their comfort spot among all the currency pairs, charts, and price quotes. If you're just starting out with Forex trading, eToro is a good option for you.

In addition, Etoro requires a very low initial deposit and even offers various bonuses for new traders so this is a good way to begin your Forex trading experience.

But this isn't to say that Etoro is just for beginners. Many experienced traders use it as well. Etoro provides all the necessary tools for you to succeed, from detailed and updated pricing charts, through technical indicators, to training material and news updates. Basically, this is a broker for a wide range of Forex traders.

Of course, no broker can guarantee success. You need to know how to trade and to trade well in order to succeed in the world of Forex trading. The broker is simply the platform by which you operate in the market. However, you should have a smooth and simple experience with eToro, one which will allow you to focus on your trades without worrying about your broker.

Reference:

Australian Forex Brokers

If you want to start Forex trading or currency trading, one of the first steps that you have to take is choosing a Forex broker. The majority of beginners in Forex usually do trials and errors until they can find the best broker that suits their needs. In order to save time and minimize trials and errors, the followings are several helpful tips that you can use when choosing a Forex trading broker.
  1. Check the registration
  2. Check the mechanism of deposit and withdrawal
  3. Check broker commission
  4. Check whether the broker allows traders from your country
  5. Check the trading platform
  6. Check the reputation
  7. Check the execution
  8. Check the customer service

Forex Brokers in Australia
:

www.etoro.com.au

www.forex.com/au

www.easy-forex.com.au

www.forex4you.com

www.forexct.com

www.fxtg.com

www.gcmfx.com

www.gftforex.com

www.gomarketsaus.com

www.vantagefx.com

www.xforex.com

www.axitrader.com.au

www.bacerainternational.com

www.bmfn.com

www.fastgroup.com.au

www.fastbrokers.com

www.fxall.com

www.icmarkets.com.au

www.interbankfx.com

www.velocitytrade.com

www.kvbkunlun.com/en

www.pepperstone.com

www.retailfx.com

www.halifax.com.au/EN

www.iamfx.com

www.icmtrading.com

www.investtechfx.com

www.jclyons.com/en