Forex Articles

Myths about Forex

The currency exchange market, or Forex, is well-known to numerous people. Private traders as well as various companies work on Forex. Currency operations are getting more and more popular with every coming day.

Introduction to Forex trading

The essence of any market is buying an item at a lower price and selling it at a higher price. In this regard, the Forex market is no exception, the only difference is that items on the foreign currency market are represented by foreign currencies that have their own prices.

Forex trading strategies

Every trader chooses the most convenient method of trading. The type of Forex trading a trader uses depends on his first-hand experience in money management and the significance of money in his life. There are a lot of strategies of trading on Forex.

Forex market trading hours

The international currency market operates 24 hours a day, 5 days a week, excluding public holidays when all banks are closed. In each time zone there are establishments, selling or buying currency during their working hours.

Forex participants

To start Forex trading, you have to realize what place a private investor occupies on Forex, or, in other words, the role of a trader in the global system of currency exchange.

Advantages of Forex

The foreign exchange market or Forex has the incontestable advantages thanks to those everyone regardless of location, education and income, has the opportunity to trade. All you need is a computer and an internet access.

The guidelines for choosing a broker

Nowadays there are a lot of companies, providing access to online trading on Forex market. Quite often even experienced traders have difficulties choosing a broker that would meet the requirements of convenient and, what is more important, profitable trading on Forex market.

Trend indicators

For allowing a trader to determine the market movement direction the trend indicators were worked out. As a rule, they are not restricted by moving averages. They include such instruments as price models, support and resistance lines, trend lines.

Several ways of employing Fibonacci levels

Each trader applying technical analysis has many postulates he relies on in trading. Quite often it turns out that traders do not go deep into the matter, guided by their market experience only. However, there are effective theories applied to the markets which lack substantial ground. They can be proved by statistics only. This is the kind of theories Fibonacci number theory is attributed to.

Classical Trader’s rules

In order to become successful on the currency market a trader must follow the range of rules. Below we consider the classical trader’s rules which will help you to organize your work on the market in such way that you will have a success and profit on the market.

Feedback from traders

Sillo trader
review NPBFX

I lost $368 in single trade due to their bad platform. The platform is not user friendly and it's really hard to customize. Spreads get higher too often, which cannot be an advantage for possible profits. And I think their platform is not suitable for beginners, it crashes many times and very confusing to use. Also, they don't provide a good support team. I closed my account at this broker and will never trust my trade with them anymore.

Luccy trader
review Tifia

I have been trading with Tifia for two years, and I'm so pleased with their service. They provide a good service for the client. It's profitable trading with them. The platform has good quality, works well, instant order execution, fixed spreads, real prices, and no slippage during my trades. The withdrawal process is also fast and easy, it is always successful within 3 hours. I have nothing to complain about Tifia. They always have a way of making my trading smooth. They are professional broker, I highly recommend Tifia to all traders.

Nuggy trader
review MaxiMarkets

MaxiMarket is not a recommended broker. I started to trade with them, I felt disappointed because the system is so confusing. Software frequently used experiences connection issues and trading pages filled with spam and other junk. The trading process takes a long time to be done, and it's really hard trading with MaxiMarket. I lost my account with a deposit that I deposited, and all of my profits were also canceled. Customer support ignored me. Stay away from this broker. They don't provide complete information about trading rules and leave the user if an error occurs.

Forla trader
review NSFX

I have been with NSFX for six months. Since I sign up for an account, I never got any problems. I choose to invest my money in NSFX because they always provide excellent services. The trading platform is working great with instant order executions. And they took only a small fee, and I think it's reasonable. I'm delighted with them, and I used to withdraw my fund through Skrill. I would like to recommend them to all traders.

Mahajo trader
review Price Markets

I have the most awful experience with Price Markets broker. Last month my EA placed a sell order on EUR/USD pair at their platform. It was a trade that was giving me a 74 pips profit when I planning to close my trades. However, when I tried to close this trade manually but their servers hangs for 45 minutes. Then the price started growing, and I lost an amount of $215 with them due to their server problem. When I contacted their live support, they said it was closed normally by stop loss of my EA and had no problem. Unbelievable. I'm closing my account after. I don't want to continue my trading with an irresponsible broker.

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