Tag Archives: Forex Trading

Best Forex Broker

3 Quick Tips for Choosing the Best Forex Broker

To run a forex trading business successfully, it is really important to have the best forex broker. These days, a lot of people are considering getting involved in the forex business because of the opportunity it offers for making money. But, with a good broker, trading strategies and trading system, it is hard to make any money at all. In fact, you will be losing what you have invested.

    Best Forex Brokers

  • DukasCopy: This Swiss forex broker has excellent reputation as one of the best online forex brokers.
  • Forex eToro: If you can’t afford to go for dukascopy, then you may consider eToro.

Now, when it comes to choosing a broker, here are some tips that can help you make the right decision.

With so many brokers already making their places in the currency trading market, it is important to get hold of someone who has a good reputation. You can find a lot about the reputation of different brokers on review websites and forums. These reviews are usually posted by people who have had experience trading with certain brokers. These are unbiased and will tell you exactly what you can expect from the brokers. You will also get an idea whose services are the best and who all are fake.

The broker you choose should be regulated. There should be regulatory authorities in his country that monitors their activities. The best forex brokers would conform and adhere to the rules and regulations of the industry.

Pip Spread
Forex brokers charge commission based on the pip spread difference of the trading currency pair. This value will be determined by your broker and most of the time they change it to suit their interest. When they fix a greater fix spread, they will be making a huge commission on the currency you trade and you will be making less. Therefore, to maximize your profit, look for a broker who has low pip spread and has the value fixed.

These are some of the tips that you can use to get the best forex broker. For a more detailed explanation see our guide on how to choose the best forex broker here.

Currency Day Trading

Forex Day Trading & Scalping For Quick Profits

Forex day trading and forex scalping are ways to make money fast in currency trading, but at the same time it is as risky as any other currency trading method, if not more so. Profits are never guaranteed in the forex market and day trading requires some special attributes. If you are new to forex scalping I suggest you to check out Delphi Scalper system.

Many beginners start with day trading because they like the idea of being in and out of the market quickly. It seems to a beginner that there must be less risk because you are not exposed to danger for so long. But in fact this is not true. The chances of having a trade go against you are just as big.

Of course, it is common for forex day trading strategies to involve a smaller position than longer term trading, or they can have a smaller range in terms of stops and profit targets. So in a sense the risk is lessened, when looking at one trade. But when you consider all of the trades that the system undertakes in a month, it is clear that overall there is no particular safety in day trading.

So does that mean we should not do it? Not necessarily. Just be sure to do it for the right reasons.

Some people consider that day trading systems are less stressful. Again this can be an illusion, but it is true that day trading seems to suit some people better than others. The pace of trading is much faster, with decisions being made on a very tight timescale under more stress. But on the other hand, at the end of the day you can switch off your computer knowing that every trade is closed and nothing is going to happen to your account balance while you sleep, so it can be easier to relax and forget about trading when it is time to take care of the rest of your life.

If you are considering day trade currency systems, be aware that an estimated 80% of day traders are losing money. Of course this may be because so many of them are beginners who do not know what they are doing. However, you want to be sure before you start that you have a good chance of being in the other 20%. This means testing out systems thoroughly in demo mode as well as back testing before ever considering going live in the real market.

Then start small because it is hard to know how the pace is going to affect our decision making powers until we are trading for real. Never assume that because you made money in demo, it is going to be easy when it comes to the real market. Many people make this mistake: you will surely have seen people complaining in forums about some system that worked in demo but not when they went live. They do not seem to understand that this is not likely to be the fault of the forex day trading system!


Finexo is an online Forex broker that offers web based Forex trading. In this Finexo review we will examine the features of Finexo and review their performance based on actual customer reviews.

Finexo Review:
It is pretty easy to open a currency trading account at Finexo. They have different account types that cater to various levels of trading: beginner, intermediate, and expert.
Supports lot of Currency Pairs: Finexo offers trading in more than 155 currency pairs including the most commonly trades pairs which allows you to trade flexibly and maximize earning potential.
Secure Transactions: One of the important features we look into a forex trader is their security features and we found that the Finexo firewall system is 100% secure. You don’t need to install any software as the web based trading platform takes care of it for you..
Apart from this Finexo also provides online tutorials and daily forex reports.

Easy Access to Finexo Broker   |   Get Finexo Demo Account

Forex Strategies for Profits

A Simple Forex Strategy To Increase Your Profits

There are a few forex strategies that you can use to increase your profits, no matter what forex trading system you may be using. Here is one simple trick that can help you to make more out of each successful trade.

Of course, all traders know that you should set a limit order or at least include a profit aim or closing signal in your plan and keep to it. It is important not to keep a winning trade open until the moment ‘feels right’. Either you are aiming for a certain number of pips or you are waiting for something like an oversold or overbought signal and then close immediately.

Keeping a trade open for an undefined time, hoping to make the most of it and profit from every last pip, is a road to ruin. Successful forex strategies are never based on feeling. Sure it is annoying to close out a trade at 50 pips and then see the trend continue to 200, but how often does that happen? We tend to remember trades like that and forget the others, so if you do not keep a record of what happened after you closed a trade, now is the time to start.

If it turns out to be true then you might want to back test the results of increasing your profit aim per trade, but in 90% of cases you will find that this does not happen often enough to justify that. What you may find, however, is that it is worth closing half of your position.

Of course, to do this you must either be trading more than one lot or have a broker that accepts fractional lots. You can set a limit order for the first half but you need to be watching the market so that at that time, you can set a new limit order for the second half and at the same time, move your stop loss. The new limit order could be half of your original profit target or it could be the same amount again, but not more.

There are several options for the positioning of the new stop and it is a good idea to back test these for your particular system. First option, if your stop was originally 20 pips out from your opening position, it now moves to 20 pips from the price at which you just closed half of the order.

Second option, your stop moves to your entry position plus or minus the spread. So if the trend now turns on you, you will have a profit on the first half of your trade and break even on the second half. Third option, the stop moves to half way between the opening price and the current price. What is best depends on the original position of your stop. Of course you do not want to move it so close to the current price that it is triggered too easily.

Equally, never be tempted to apply this technique to a losing trade. It would be a big mistake to only close half of a trade when it hit your stop, unless you are testing different positions for the stop. Forex strategies should maximize your profits, not your losses!

Forex Rebellion

Created by experienced trader Russ Horn, Forex Rebellion promises fast, easy, and big profits from trader, inexperienced or experienced.

Forex Rebellion Review

In this Forex Rebellion review we will see what is inside Forex Rebellion system, how it works and review conclusion based upon user ratings and actual customer reviews.

What is Forex Rebellion?
Forex Rebellion is a mechanical trading system. According to the creator Russ Horn, FX Rebellion offers a simple yet effective system, supported by some of the world’s best and most respected traders, for trading that even a beginner could grasp in about 25 minutes.
The method is the only one in existence that allows a user to switch charts from one currency pair to another on any time frame to do some trading. Its unique entry method claims to reduce losses by about 30%.

Horn puts all of these together in a long yet helpful series of video tutorials, aimed to help any trader quickly learn the basics of the tried-and-tested unique trading strategy featured in the program.


Dukascopy is a Swiss Forex broker that is unique in the sense that it utilizes the financial security of private Swiss banks, as well as the Swiss Foreign Exchange, for trading. Accounts for this exclusive broker will require at least $5,000 to start.

Dukascopy Review
Dukascopy accounts boast of many features, such as high funds security, ECN liquidity, . Private Swiss Bank services, arguably some of the best bank services, are also included. There is also access to exclusive Forex news and analyses, and a 24/6 tech support system available.

For those wishing to test the broker, Dukascopy offers a 14-day demo account. The amount of this account is variable depending on your chosen trading situation: you may go as low as $100,000, or as high as $5,000,000 when testing the waters.

Dukascopy announced the new minimum deposit conditions for retail clients following contstant investor demands. From 15 March 2010 onwards trading is available starting from deposit of USD 1’000.

Visit the Official Website of Dukascopy

Easy Forex Trading

How to Make Money Fast and Easy with Forex Trading?
How can I make money with forex trading and is it possible to make money fast with forex trading? These are some of the common questions you can find on any currency trading forum. There are so many advertisements out there that endorse ways to make money. Earn little extra cash from home, make money online, replace your day job or start a home business … whatever you want to do; there seem to be a hundreds of ways to do it. And yet we all know that it not really easy as it sounds. Naturally now the questions arising in your mind should be, is the same thing true of forex trading?

Forex trading is currency or foreign exchange trading which involves anticipating the movement of currency prices around the world. A forex trader exchanges one currency for another because he thinks that the price of one currency will rise and fall relative to the price of the other.

For example, if the US economy is doing well but the Canadian economy is doing badly, you might want to trade the USD/CAD currency pair. You would buy the currency pair which means that you are buying USD. One time when you might want to do this would be if there is a fall in the price of oil. Canada is a big exporter of oil and the USA is a big importer, so the value of the US dollar against the Canadian dollar is likely to rise when oil is cheap. This could be true even if the US dollar is falling against other currencies.

Of course, if you just had a couple hundred dollars in an account that you wanted to invest in this trade and you got 1 for 1 when you bought this currency pair, you would probably not make more than a few cents on the trade. Currencies just do not change in value that much that fast, at least most of the time.

So forex traders use leverage to increase the size of the sums that they can control (lots). Brokers will allow you to open a trade a position that is at least 100 and sometimes 200 times the amount that you are putting up. This means that your $10 controls $1,000 or $2,000 in the market, or your $100 controls $10,000 or $20,000 in the market. Now the profits could be a lot bigger. This is how people make money fast with forex.

From this example you will see that forex is risky. In this it is like all speculative investment. Generally speaking, the risk increases along with the potential returns. There are safe investments like government bonds where you have a guaranteed return, but it’s low. Then there are risky investments like stock or forex trading where you can make money fast and make a lot, but on the other hand you can lose it all. So it is important not to trade with money that you cannot afford to lose.

Fortunately forex brokers provide demo accounts where you can try out your skills and trading systems on a virtual money account until you are profiting on a regular basis. It is necessary to practice in demo mode for a while before you go live, so forex is not something that can turn a complete beginner into a millionaire overnight. The truth is, there is nothing that can do that outside of gambling, which is even more risky.

However, once a person has learned to trade forex steadily and well, it is certainly possible to make money fast with forex. I would suggest you to spend some time and money on forex education. You could reduce the learning curve by utilizing automated forex trading robots like FAP Turbo or Forex Brilliance. However remember that even if you are using a Forex EA you still need to learn the basics.

Forex Trading Secret

Anyone who is into forex trading knows the impotence of spending time to learn forex. Since you are reading this article I would assume that you are also trying to gather as much information as possible to learn forex trading. So you are investing in the time on the forex trading education, however do you know what is the real secret to win in foreign exchange trading? What is it that currency traders require most of all if they have to make profit?

What is the Real Forex Trading Secret?
Consistency is the answer.

If you can be consistent in a fast-paced, dynamic forex market and control your own bad emotions, you have the foremost opportunity of netting cash in this wild foreign exchange trading world. Being consistent means putting on your system and your plan through everything, in each fx trade that you hit.

Naturally you need a genuine forex trading system to begin, and a method that concentrates on dependable risk management. Risk management is essential. The amount of risk may change according to the system however it should never be greater than 5% of your funds. In fact if you can keep it at 2%, it is best.

Having determined on your trading system and established it thoroughly in a demo account, you should be certain that it is a dependable moneymaking system and will work for you. It is very important to have that confidence, so continue examining if you still have any uncertainties. And Then you start to implement it, systematically. Sometimes you will have losings but it is crucial not to start skeptical about your system at this phase. Prompt yourself that it works in the long term.

Take a look through your past records if you want reassurance. Possibly you were lately having some fantastic runs with more than anticipated earnings. You don’t have to worry if you bear a downturn after that. You will be alright in long run.

If you change trading systems every time you take a loss, you cannot expect to make profit. The reason is simple. When you withdraw each time you are down, you never give the system a chance to regain. You will probably change to a trading system that has been doing good recently and then maybe it might end up doing badly when the market changes.

When that happens you could end up believing that you are jinxed since every time you go for a different trading system, it begins to fail. But it is just because you are starting into a trading system while it is at the peak and about to get a reversal. You would never do that with a single trade, and it is just as bad to do it with a trading system. In most all cases you would have done well to stay with your original trading system.

If you are a someone who inclines to move on impulse, you might want to learn to get rid off that habit with the help of your currency trading education. Again utilizing a demo account can assist, but not if you treat it as a mere game or gamble. Utilize the demo forex trading to educate yourself to be consistent in following a system rather than pursuing your impulses and emotions.

Alternatively, you could use a forex trading software like FAP Turbo which will implement your trading system with perfect consistency since it never gets affected from impulses and emotion during trading. Naturally you will need to set it up in such a way that will make money, but once that is done, it will behave precisely as it is set while you focus on your foreign exchange trading training to better your own forex trading skills.

Forex Trading Tips

Forex market is the largest financial market in the world. Trillions of dollars are being traded on foreign exchange market on every business day. Naturally forex market is attractive to anyone who wishes to make money online. However forex trading involves high risk and if you do not have enough knowledge on currency trading you could suffer heavy losses. The following 6 forex tips are useful for anyone who is starting out in forex trading. So let’s see these essential forex tips.

6 Forex Trading Tips

1. Learn Technical Analysis
Learning technical analysis is the key to become successful at forex trading. Of course following forex news for fundamental analysis is important since you need to know when to stay away from forex market. However the most effective to trade forex is to utilize Forex charts and simply follow the reality of price change as it occurs on the chart. Invest your time to read the charts and identify trends.
If you concentrate on this you can learn technical analysis in few weeks and start making profits.

2. Start with Simple System
Do not go for complicated trading systems in the beginning. You will end up with losses and frustration. When you are starting out in forex follow a simple system which only consist of chart support and resistance and a few confirming forex indicators.

3. Avoid Forex Robots
The idea of making money from automated forex trading is really appealing to everyone. However keep in mind that many of those so called forex robots are just hype and do not work in the way they claim. Of course there are few good forex software programs like FAP turbo robot and Ivybot. However if you want to make real money from trading, it is absolutely essential that you learn technical analysis and do the trading by yourself.

4. Control Your emotions
Occasional losses are inevitable in forex trading. Even the best forex traders in the world make losses. When you lose the money you either lose your courage to trade further or get angry and want to take the revenge. Both are evil emotions as far as a trader is concerned. Make use of stop loss and learn to accept minor losses. This is a business and not gambling.

5. Leverage is not always good.
One of the major attractions of the forex trading market is the high leverage offered by brokers. Many brokers will allow you to trade with 400:1 leverage. While this might seem attractive to new traders who got less money to invest, you should know that if you lose one big trade your account might get liquidated. If you are a new trader never go for more than 20:1 leverage.

6. Discipline the Success Secret
Some of the most successful traders use simple and straight forward system to make money with forex. What is the secret of their success? Discipline. Once you have winning system never deviate from the system. Time to time you will come across people making big claims about their new trading systems. You might get tempted to test them. If you want to test a new forex trading system, test it on a demo account or you can even open a new mini trading account. Dump your existing trading system only if you are 100% confident that the new trading is far better than your existing system.

You can make money in forex. I strongly suggest you to invest some time and money in good forex education. You can read books or join a forex mentor program like Pip Mavens and learn all you need to know about profitable forex trading.

Simple Forex Strategy

There are numerous forex trading strategies and many of them pretty good. But what is the best forex strategy to make huge profits? Let’s find out…

Simple Forex Strategy: Concentrate on Money

When you want to develop the best forex trading strategy for making real money, you have to to focus on the money itself and the methods to manage and control money. Of course our primary aim is to create a profitable trading strategy. But you should always keep in mind that a complex forex system or the best forex software in the world will not bring you profits if you fail to manage your investments.

If you are new to forex trading, managing your funds might sounds like it should be pretty simple to do. However managing investment is not a simple skill and everyone is blessed with it. The normal perception is that if you are good with your money and cash flow in general and if you are keeping a good track all your investments you will do well in currency trading as well. This is not always true. Of course you will have an advantage compared to thousands of other traders who can’t handle money at all. However investing your money in a risky market like forex will necessitate a totally different attitude.

Make Money or Avoid Losses?
After trading for some time you will soon realize that one of best ways to make real money with forex is not go for making big money, but just focus on avoiding big losses. When you are starting out in forex trading if your strategy is to go for only big trades, then you are risking too much. Instead concentrate on a series of small wins and completely eliminate losses. You don’t have to worry about occasional small losses which are unavoidable. Eventually with lot of trading experience you will be able to identify big trades. Thus when you begin trading forex your strategy should be to avoid big losses.

You might ask, “Is it not possible to make profits if my forex strategy involves lot of small winning trades and very few occasional big losses?” Of course it is possible that your winning trades can cover the odd big losses. However, this is not the best forex strategy for anyone starting out in currency trading.

Why? Because when a large loss occurs, it is likely to upset you and might cause panic. As a result you will be worried to continue with your existing simple trading system and start thinking of new forex trading strategies which are more complicated. Besides, you will want to recover the money you lost as fast as possible which totally a dangerous situation. Because at this stage you might chose dreadful trading decisions which might result in further losses. The best forex strategy is always to stick to a winning trading system even if it suffers occasional losses. This is the success secret of experienced traders like Chris Lee from Pip Mavens who focus on simple forex strategies.

Forex Strategy: Trading Discipline
Forex trading beginners often get tempted to use maximum leverage on a mini account in an attempt to make big profits. Do not fall for this trap. According to your predictions it may be a perfect winning trade. But you could still end up with heavy losses since Forex market is highly volatile and any unanticipated forex news can lead the market in opposite direction.

When you are a beginner at forex it is always a good strategy to limit your risk to 2% of the funds in your account. So how much will you invest in your forex trading account? There are highly reputed forex brokers like Dukascopy who needs at least 10k investment and there are also other brokers who will let you open a mini forex trading account with few hundred dollars. Though you should not invest more money than you can afford to lose, it is better to have at least $1,000 in your account to do profitable trades.

Recording and Tracking
Like I mentioned earlier the simple forex strategy that is effective is to avoid losses and keep good track of your trades and money. You can make use of an excel spreadsheet to record your opening and closing prices, profit or loss after deducting the spread. You should also try to record the logic behind going for a particular trade such as the indicators that you used. You should follow this even if you are trading on a demo account. Trust me; this simple exercise is worth since within few months you can learn a lot by going through information recorded in this spreadsheet. This simple technique alone will help you to improve your strategy and your simple forex trading strategy will soon become a powerful winning strategy.