online forex trading

A Starter’s Guide to Forex Trading

The popularity of the forex trading industry has been booming consistently over the past few years, and the amount of the online forex brokerage companies offering their services to the public has also multiplied in number. Most of these brokerage companies allows their customers to use their services at no extra cost, and they even offer their clients a free trial to let them test their services before opening an account.

As a result, entering the forex industry has never been easier than before. Because of that, a lot of individuals looking for a nice investment opportunity were encouraged to begin trading in forex. And since you are here, reading this very article, I assume that you are also one of the individuals inspired to trade in this risky industry.

online forex trading

As a beginner in forex trading,  you might not know yet all the necessary methods to attain success. But, worry not, as the real purpose of this article is to guide you to the right path to success.

This article will enumerate some of the basic things you need to understand to be an effective forex trader.

Prioritize Learning about Forex Trading

 

It is very difficult to survive in a very risky industry such as the forex market if you don’t have enough knowledge about it. Doing so is a surefire way to lose all your hard-earned investments. Before you begin trading in forex, you should ensure that you fully understand all the basics and possess all the necessary information to become an effective trader.

Make Sure You Have Enough Funds to Trade With

Before you can trade in forex, you should have enough cash you’re ready to risk. However, you should make sure that your trading money is separate from your family and personal budget. Remember, forex trading is a very risky industry, and no one can guarantee your success in it, so you should not risk having nothing to eat for a whole month just to try your luck in online trading.

Come Up With a Trading Plan

Just as you would not be able to win a war without a good strategy, you would not be able to profit in forex trading if you do not carefully plan your trades. You should prepare the right tools and strategy in order to attain success in online trading. By carefully crafting a solid trading strategy, you’re basically increasing your chances of success, while also minimizing the risks.

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Learn How to Minimize Your Risks

Remember, forex is such a risky industry. Even if you have the most effective trading strategy, if you did not bother to incorporate a careful risk management system, you will end up having your strategy vulnerable to unnecessary risks that could have been easily prevented.

So, before diving into forex trading, you should take time to determine the risks associated with it so that you will be prepared to create an effective risk management system intended to minimize these risks.

Learn more about online trading and dig deeper into the forex market by reading our educational articles. Join us as we review the leading forex brokers in the industry such as AvaTrade, MXTrade, eToro, Trade12 review and XM.com, visit our official website 🙂

Choosing the Right Forex Broker – A Complete Beginner’s Guide

Good day everyone. If you are new in forex trading and is struggling to find the most suitable forex broker, then you’ve come to the right place. Today we will discuss some of the most important factors you need to consider when choosing the right forex trading companion.

Choosing the right broker is very important especially if you want the most ideal trading experience. Your performance and success in the forex market will largely depend on the forex broker that you will choose.

forex trading

If you have no experience in forex trading, you might have a hard time deciding which forex broker will be a perfect fit for your trading needs. In that case, how do you overcome the frustration, confusion and uncertainty and replace that with peace of mind that comes with finding a trading companion that is not actually looking to steal your money?

These are some of the factors you need to consider in choosing the right online trading broker:

Transaction Costs

Keep in mind that you will always be subject to transaction costs when trading. The amount and type of transaction costs, however, will vary depending on the broker that you will choose. It is important to compare different forex brokers with each other to ensure that you’re trading with the most affordable rates.

Trading Platform

Most of your online trading transaction will occur on the broker’s trading platform. That is why you need to ensure the stability and user-friendliness of the broker’s trading platform before you decide to do business with them.

Some of the factors you need to consider when checking the broker’s trading platform:

  • Is the trading platform easy to use and can be easily understood by amateur forex traders?
  • Are there any notable features that can make your trading experience easier?
  • Is the trading platform compatible with the device you are currently using (for example, if you’re using an iPhone, is this trading platform available on the Apple Store?)

Customer Service

It is important to find a forex broker that you can easily contact whenever problems arise. Not all brokerage companies offer 24/7 online support, so make sure that the broker you chose is reachable whenever you need them.

online forex trading broker

Deposit and Withdrawal

A trustworthy forex broker will permit you to put funds and withdraw your money without any hassle. Brokerage companies have no reason to make the withdrawal process complicated since the only reason they have your funds is to make trading easier for you.

Your broker holds your money only to facilitate trading so there is no reason for you to have a hard time acquiring the profits you have gained. Your broker should ensure that the process of withdrawal is hassle-free and easy.

Security

The most important thing to consider when choosing a forex broker is the level of security. Think about it, you are not going to just simply entrust your hard-earned cash to anyone who simply claims he’s legit, right?

These are some of the factors you need to observe before choosing your forex trading companion. Be careful with this one, as your level of success largely depends on the reliability and effectiveness of your forex broker.

Achieve the most satisfying forex trading experience. Visit our official website to view the latest and most comprehensive reviews of the best forex brokers (such as AvaTrade, MXTrade, Oanda, FXCM and Trade12). Wibestbroker seeks to help newbie forex traders to achieve success in trading, so if you need any coaching or advice, kindly contact us 🙂

Brief Comparison of Best Forex Brokers (ActivTrades, MXTrade, Trade12, eToro)

Hello Traders! Did you miss us? I hope you guys have learned a lot about forex after reading the previous articles we posted on this blog site 🙂 Today, we’ll highlight some of the top-rated forex brokers in the industry (ActivTrades, MXTrade, Trade12 and eToro). We sincerely hope that this article can guide you in choosing the best forex broker that fits well to your needs!

best forex broker

eToro

eToro is one of the leading forex brokers in the world of forex trading, having been in the industry for so many years. The brokerage company claims itself to be the first global marketplace for people to trade foreign currencies, indices, commodities and stocks online in a simple and more transparent approach.

As of today, eToro proved itself to be one of the largest forex brokers in the industry, with more than 4.5 million clients from more than 170 countries worldwide. With the company’s state-of-the-art investment platforms, supportive and approachable trading community, and skilled and experienced forex brokers, you can assure that you will have a great trading experience with this company!

MXTrade

Mxtrade is an online forex broker that has been in the industry for many years. With its years of experience in the field, MXTrade has already proven its reliability and quality of services. It is one of the Best Forex brokers in the industry. MXTrade is a brand managed and owned by Lau Global Services Corporation, a financial services firm. This company provides its clients reliable online trading services and serves both retail and institutional clients from over 140 countries all over the world. They have more than 250 trading instruments and offer flexible leverage.

ActivTrades

ActivTrades is probably one of the oldest forex brokers you can find in the world of online trading. Started as a small brokerage house in Switzerland in 2001, the company has rapidly developed into one of the leading broker for retail and institutional clients.

choosing the best forex broker

Trading with ActivTrades allows you to trade over 50 currency pairs as well as commodities, metals, indices, stocks and financials, all of which are available through the company’s MT4 and MT5 trading platforms. ActiveTrades’ trading platform can be accessed using Desktop, Laptop and iOS and Android devices.

With the company’s competitive pricing, state-of-the-art technologies, innovative trading tools and reliable and outstanding customer service, you’ll surely have no regrets choosing ActiveTrades as your broker!

Trade12

Trade12, despite being a new forex broker, has done many things to prove itself worthy of being called a leading forex broker in this generation. Established in 2015, Trade12 assisted many clients in achieving their goals, most of which have reported to have attained the highest level of satisfaction from this broker.

Currently, Trade12 offers cutting-edge trading platforms and technologies, intended to cater the needs of its clients. Aside from that, the company also provides free trading education through educational video tutorials, daily market updates, learning materials and other related resources. Lastly, the brokerage firm also offers outstanding customer service available to help clients 24/7. With all the things mentioned, we can guarantee you the best trading experience with Trade12.

Join us as we review the top-rated forex brokers in the industry such as Avatrade, BelforFX, MXTrade, Trade12, eToro and other brokers! Follow our official blog sites and visit our official review site – Wibestbroker.com, to stay tuned with our latest updates 🙂