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.
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Feedback from traders

Rudith trader
review FXArena
30-06-22

I was very excited to trade with FXArena because of their promising claims. But I am so disappointed with their platform after I join them. It is very unstable! I even lost 23pips on the USD/CAD pair simply because of the delays in the platform. If this goes on, then I would not have any progress at all.

Deddy trader
review OptionWeb
30-06-22

I have been trading with OptionWeb for about 3 months with $200 and honestly, I had no issues with them ever. Instant fills, and executions. Even have had orders executed during news economic events with excellent fills. During these three months my I have earned a profit of $569 and yesterday was my 1st-time profit withdrawal. I withdraw more than 40% of the current balance from Neteller and I was surprised that my money arrived within 7 hours. I think Leverage could be better. Other than that, everything is okay.

Yutty trader
review Markets.com
29-06-22

Very slow service, especially with my withdrawal requests. Their customer support is unprofessional and they did not even try to help me with my issue. Not a good broker and I certainly would not recommend them to my friends. They give me trade signals on USD/GBP pair that are false and l lost $853 in 3 trades. Currently, my balance stands at $511. I tried to save my funds and withdraw but until now I cannot get a reply from them. Markets.com is a scam broker.

Polly trader
review SimpleFx
29-06-22

I am currently trading on a standard account at SimpleFX where I found the transaction is still fine as long as performance-wise was good enough. They have technical and fundamental analysis portals to consider. Average monthly I can earn $600 - $1000 per week as additional income and I normally use the Bank Transfer payment method to withdraw money. The withdrawal process is fast and efficient. I would recommend SimpleFX to all traders.

Mahi trader
review InstaForex
28-06-22

My trading with InstaForex so far has been very good. No big problem because I traded with them, it's just last week my withdrawal was slightly delayed. But when I confirmed about my withdrawal their customer support understood me very well and forwarded the issue to be resolved to the concerned department and my withdrawal process succeed after few hours. Really, InstaForex is reliable.

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