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Broker Pivot Trade. Trading with best forex indicator. Low spread EUR/USD 0.9-1.1. 50% Deposit bonus. Awards.
Broker Pivot Trade. Low spread EUUSD 0.9-1.1. 50% Deposit bonus. Pivot Trade Awards. Website: https://www.pivottrade.com Awards: https://pivottrade.com/About/awards.html Download indicator: https://en.mt4trading.ru/downloads/87.5_indicator.rar Trading with best forex indicator. + Best forex indicator 2017, 2018. 87,5% accuracy. No repaint alerts + SMS signals for trading mt4. INFO - https://en.mt4trading.ru. Download indicator: https://en.mt4trading.ru/downloads/87.5_indicator.rar Pivot Trade has received many awards for outstanding achievements in the Forex Industry. Outstanding customer support, excellent platforms, fund security and dedicated services are the greatest values of Pivot Trade. Hi I am Alexander. Today I am going to do a broker review that many people are curious about. So far, many of you guys have asked me to recommend a broker. I hope this video helps those people who have not yet chosen a broker. To explain you guys with the advantages and disadvantages of this broker, I have been trading in this broker for. I'll tell you what I have felt about trading here. The name of the broker is called Pivot Trade. Perhaps you might not have heard of them if you have been trading Forex for a long time. This Broker was originally an asset management company and they used to ONLY worked with companies. But they opened to the individuals for the first time in 2016 by making a broker called Pivot Trade. Okay I’ve gone too much of talking, now, I will show you what I have done through last week. Spread Low - The first thing I noticed while I traded in Pivot Trade is that the spread is low. I will explain why it is really important to choose a broker with low spread. Basically, the movement of 1pip per lot is worth $ 10. Depending on your order, you may earn or lose $ 10. However, on the Forex trading system, we always start with a loss as much as the price of the spread. In other words, if you place a buy order, you will start from the bottom graph price, and if you place a sell order, you will start from the top graph price. That’s why spread is one of the most important factors in choosing a broker. I will do a calculation from a money point of view. At Pivot Trade, EUR / USD is about 0.9-1.1, so we will calculate it as roughly 1pip. If you are trading at 1.5pip on another broker, there is a spread difference of 0.5pip, is it correct? Then you will have to pay an additional $ 5 for each order you do. If you trade 500 lots a month, then you would lose $5x500 = $ 2500 each month. This is not some amount of money you would want to ignore. Please, everyone who is watching this video, choose a broker with a lower spread. But you should also be noted that brokers have a lot of false ads. If you check some websites of a broker, it says spread starts from 0.1 pip/0.3pip or what so ever, which is actually not a real spread. This spread only reaches the point for less than a second a day. Many brokers now have a zero spread account, the actual spread is zero, but they receive additional commissions. For example, the spread is 0, but the commission is from $ 20. Deposit Bonus Withdrawal - Second, I have been working with Forex for a long time, but Pivot trade seems to offer this service to our customers for the first time. Personally, I like this most. You may have heard of Deposit Bonus. However, at Pivot Trade it is very easy to withdraw. Pivot Trade now offers a 50% deposit bonus up to $ 5000. The Deposit Bonus is added as credit, not as real money. This money is converted into a withdrawable balance of $ 3 for each 1 lot transaction. I have asked the customer service, and they said that bonus will be converted into balance once a week. For example, if you have traded 15 lots this week, $ 45 of the bonus can be withdrawn immediately. They received the highest customer satisfaction award in year 2018. You can also see there are few more awards they have received. In conclusion, I am very satisfied that they have low spread. Additionally, the deposit bonus which can be withdrawn even if you trade one lot, is very competitive and seems to be a very good promotion for traders to enjoy. Since this broker is also a registered at Financial Service Authority at St. Vincent, it seem that you don’t have to worry about the safety of the fund. If you have any questions, please contact: Web-site: https://en.mt4trading.ru Skype: master.trade.win Tel.: +7(928)2514977 Email: [[email protected]](mailto:[email protected]) Video address: https://www.youtube.com/watch?v=oQA3XWBy6Eo This video was published on: December 29, 2018. Channel: https://www.youtube.com/usecomemoneys #Pivot Trade, #broker Pivot Trade, #Awards Pivot Trade, #pivottrade, #low spread, #deposit bonus, #bonus 50%, #chosen a broker, #low spread eurusd, #forex, #forex broker, #broker Asia, #stocks, #indices, #trading, #trade, #indicator forex, #best indicator, #best forex indicator 2018, #forex indicator without rapaint, #without redrawing,
Hi Everyone, So I decided to trade silver today and opened a trade at market price for 0.30 lots. IMMEDIATELY the trade opened with a -$45.00 in the negative. How to hell does a trade open at -$45.00, when it's bought at market price and the market has barely moved since the button was pressed? I don't think any broker out there has such high fees. Did anyone experience something similar? Or maybe my broker glitched?
For Canadian Clients of VantageFX (or Canadian Forex Traders in General)
As you likely already know, VantageFX will no longer service Canadians residents as of Nov 30th. This is unfortunate, since VantageFX has done an excellent job serving Canadian clients with higher leverage account options from a well regulated and trusted broker. Through contacts in the industry, we've been made aware of a new retail account offering at Pacific Union. Pacific Union has a good history of servicing institutional accounts and has only just started taking on retail clients, but they are positioned to service the Canadian clients in the space that VantageFX has left behind. Further, we were made aware of Pacific Union first by contacts at VantageFX, and then this recommendation was backed up by a trusted source who works closely with both companies. Again, to be very clear, this post isn't to give undue attention to some random broker.. we are providing this info because Pacific Union is a proper alternative for Canadian based traders that will no longer be serviced by VantageFX. On that note, I've updated the wiki to include Pacific Union Prime - https://puprime.com: Subreddit's Canadian Brokers Wiki Page The only major difference I have noticed so far is lacking MT5, but the word is that Pacific Union will be reviewing MT5 and other enhancements to their offing next quarter after they get past the launch of their retail offering. Key highlights from my perspective:
Up to 500:1 leverage available for Canadians, and while that much leverage may not be needed, even just 100:1 is decent compared to ~33:1 leverage set by IIROC with onshore brokers.
Client funds are segregated at an Australian bank, so you're getting some overlap of Aussie banking / regulatory rules and that's a huge plus when it comes to safety of funds and the finance side of things
No fee on credit card deposits / withdrawals, and no fee on Visa Debit and MasterCard Debit deposit / withdrawals. Transactions are completed within 30 minutes.
No fee on Interac e-Transfer deposits.
Remember, going offshore means you lose CIPF protection on funds, so a well vetted and properly regulated broker is a must! UPDATE #1: Oct 6th: Took this post off sticky and redacted some info as the connection between VantageFX and Pacific Union Prime was not "official". Pacific Union is still a great alternative / replacement for Canadian clients seeing higher leverage accounts and who are no longer serviced after VantageFX left Canada. UPDATE #2, Oct 8th: Adjusted this thread again to best reflect where Pacific Union Prime fits with VantageFX and former Canadian VantageFX cleints.
I've been purely interested in Forex for the past few years, and in the last month have been studying Mcmillan's Options as a Strategic Investment alongside the study guide (which was expensive for the number of errors it had). Alongside this I've been very loosely paper trading on thinkorswim, mainly with credit put spreads and iron condors. Looking for some general advice from people in the UK re options trading. What brokers allow trading of US equity options, what else I should consider, minimum account size, trading platforms, etc. Any help would be appreciated.
I am aware there is no-KYC exchanges for Crypto, but is there one for forex market exchange has tight spread and fast transaction? Any response is appreciated! And thanks beforehand! Let me clarify, a no KYV crypto broker, I think that makes it clearer.
Why do people choose to do retail trading if spread betting is tax free (UK)?
From what i understand you'r ultimately betting on the price going up or down in both scenarios and the benefit is with spread betting you'll keep more of your profits as you get taxed less. Forex brokers are just offering CFD's and isnt this going to be the same as betting in spread betting? Am i missing some understanding of benefits/negatives as to why forex is more generally traded?
Seguramente, empezando trading, [email protected] van a buscar en Youtube o en otros medios que es el trading (existen miles de videos sobre qué es el trading). Lo mismo pasará con otras preguntas, como para que es forex, como ganar dinero en forex o en trading, etc. Lo que [email protected] a veces no se preguntan es como funciona o qué debo saber para operar este mercado (Forex). Bueno. Aquí les dejaremos una serie de preguntas para que investiguen ya sea en Youtube o en Google. Estás les ayudarán a entender cómo los traders generan ganancias en los mercados. Si ya sabes que es forex y trading busca lo siguiente: ¿ Que son los pips? ¿Que son los lotes en Forex? ¿Que son los spreads? ¿Que son los soportes y resistencias? ¿Que es una tendencia en el trading? ¿Como usar tradingview? ¿Como usar Metatrader? ¿Que brokers son buenos para forex? BONUS - PSICOLOGIA DE TRADING Busca esta información donde quieras ya sea en videos o en artículos. Si tienes preguntas no dudes en dejarlas en un comentario abajo de este post, o publicarla tú mismo en el feed de la comunidad. Si te sirvió de algo el contenido publicado no olvides compartirlo con [email protected] que sepas que les interesa el tema y de por sí ya trabajan en ello. OTRO BONUS por habernos leido hasta el final Busca que son las ondas de elliot y los niveles de fibonacci en forex o trading...
10 Secrets The Trading Industry Doesn’t Want You To Know About
Today’s lesson goes to be somewhat controversial and should ruffle some feathers. I shall blow wide open and debunk tons of the knowledge you've got presumably been exposed to the present far in your trading journey. The average trader is out there walking through a confusing and conflicting maze of data from a spread of sources including; blogs, forums, broker websites, books, e-books, courses and YouTube videos. With of these learning resources available there's naturally getting to be some excellent and a few very bad information, but actually , there just isn’t how for many aspiring traders to understand what to concentrate to, who to concentrate to, or what information is useful and what information is non-beneficial. I’m not getting to pretend that there's how for an aspiring trader to filter this giant sea of data composed by of these resources and mentors out there, because there simply isn’t. knowledgeable trader with 10,000 hours of experience might stand an opportunity of deciding the great from the bad and therefore the valid from the invalid. However, you, the beginner or intermediate trader simply won’t possess that filtering ability yet. Becoming ‘Non-Average’ As traders, we concede to our instinctive feelings of social trustworthiness supported what we see and listen to , often to our extreme detriment. we frequently tend to require a leap of religion with our mentors and have a habit of taking things said to us at face value. we would like to hold close information that resonates with us and is sensible to us, especially if it’s delivered by a well-known source that we've come to understand and trust. The ‘average trader’s brain’ is usually trying to find a shortcut due to the overwhelming desire to form money and be free. The brain wants to urge a winning result immediately with the smallest amount amount of effort possible. If you would like to ever make it as a professional trader or investor, I suggest you are doing everything you'll to avoid thinking with the ‘average trader’s brain‘ and begin being ‘non-average’. meaning becoming far more aware, thinking outside the box more and questioning and filtering the knowledge you read and watch. most significantly , slowing everything all down! This now begs the apparent question…how does one even know what I’m close to write during this lesson is actually valid and factual? How are you able to really be sure? the reality is unless you've got followed me and my posts on this blog for an extended time and know me and know my work, then you can’t really make certain , and that i don’t expect you to easily believe it at face value. If you would like to return back and re-read this lesson during a few weeks, or a couple of months, or a couple of years, after you work out that i'm somebody worth taking note of about trading OR that i'm somebody not worth taking note of about trading, then so be it. So with a degree of healthy skepticism, I ask you to think about the below list of eye-opening secrets that professional traders and therefore the trading industry, don’t want you to understand about or understand. I hope it helps… Visit : توصيات الذهب اليوم FOREX isn’t the sole market the Professionals trade The FX market is large , with billions of dollars per day changing hands. It can cause you to great money if you recognize what you’re doing OR it can send you broke if you don’t. It’s a really popular market to trade globally, BUT it’s not the sole market the professional’s trade and it’s not always the simplest market to trade either. A note on leverage: The brokers and platform providers want you to trade FX on high leverage because the profit margins are very high for them. However, if you trade FX on lower leverage, the profit margins shrink dramatically for them. once you trade FX, start brooding about what can fail rather than just brooding about what can go right. I suggest avoiding stupidly high leverage like 400 to 1, as this will be very dangerous for you if the market moves quickly or experiences a price gap and your stop-loss orders aren’t executed at the worth you set. A more sensible leverage level would be 100 to 1 or 200 to 1, but any higher seems crazy. (Using an excessive amount of leverage is what wiped tons of traders out during Swiss Bank Crisis in 2015, The Brexit choose 2016 and therefore the Currency flash crash in early 2019). Broaden your view: Going forward, it'll serve you well in your trading career to start out watching a spread of worldwide markets including FX, Stock Indicies and Commodities. additionally to FX, I personally trade GOLD (XAUUSD), S&P500 Index USA, the SPI200 Index Australia, and therefore the Hang Seng Index Hong Kong , and sometimes individual stocks on various global exchanges. In short, there's more to the trading world than simply FX. I discuss the foremost popular markets I trade this lesson here. Day trading isn’t what Pro trading really is The internet is crammed with marketing trying to convince folks that the definition of a trader may be a one that spends all day actively trading in and out of the market on a brief term basis, all whilst living the life-style of a Wall St millionaire. there's a significant agenda within the industry to push this story to the masses, it's been relentless for many years . I am yet to satisfy one successful day trader who is consistent over the future and that i have almost 25,000 students and 250,000 readers on this blog. i'm not saying there isn’t a couple of out there, but 99.9% of the people that do this sort of trading or attempt to live up to the standard day trader stereotype are getting to fail and perhaps even harm themselves financially or mentally. Watching a screen all day and searching for trades constantly is that the like a compulsive gambler playing roulette during a casino. The successful traders i do know of (myself included) are watching higher time frames and longer time horizons (minimum 4-hour chart timeframes and predominantly daily chart time frames). they need no restriction on how long they're looking to carry a trade for and that they tend to let the trades find them. The professionals i do know , don't day trade, they are doing not watch screens all day, they are doing not search for trades constantly. they're going to typically fall under the category of a swing trader, trend trader or position trader. The obvious paradox and conflicting reality within the ‘day trader story’ is blatantly obvious. How does a trader who is consistently watching a screen and constantly trading have time to enjoy his life and live the lifestyle? They chose to trade as a profession to possess a life, they didn’t choose it to observe a screen 24/5. Here are some points to think about that employment against the so-called ‘ day trader’: The shorter the time-frame the more noise and random price movement there's , thus increasing your chance of simply being stopped out of the trade. Your ‘trading edge’ features a higher chance of yielding a result for you if you’re not trading within the intraday noise. The same trading edge doesn't work or produce an equivalent results on a 5 min chart compared to a Daily chart. Commissions and spreads churn your account, therefore the more you trade the more you lose in broker platform costs. (I will mention this below) Risk-Reward ratios aren't relative on shorter and longer time frames. Statistical average volatility across different time periods also as natural market dynamics play an enormous role during this . there's much more weight behind higher time frames than lower timeframes. Great trades take time because the market moves slower than most of the people ever anticipate. Trading from the upper timeframes and holding trades for extended time periods will provide you with greater opportunities to ascertain trades mature into big winners. However, shorter timeframes don’t provide you with this same opportunity fairly often .
The foreign currency market is the largest of all of the trading markets with an almost unbelievable 5 trillion dollars changing hands each day. Until recently Forex trading was consigned to heavy weight traders and brokers who could afford the high minimum trading amounts required. However, the recent appeal of trading online has prompted a further development in the foreign exchange boom. Increased leverages are now not just available for the big scale traders but also for the starter and lower volume speculators. Whereas minimum deposits were at one time in the thousands of dollars range now they are in the hundreds. Nowadays, a trader can enter the foreign exchange with little more than a credit card, a Forex trading account and a laptop or PC. The boom has led to a number of brokers entering the market to meet the demand in online trading, but getting a suitable broker out of so many options can be difficult. Deciding on a Forex broker Take a look at this list of fundamentals to think about when making your selection of a suitable Forex broker: Foreign currencies All Forex brokers provide the "majors" as pairs to trade upon. These principal moneys include the US dollar (USD), the Japanese Yen (JPY) and the British pound (GBP). Further brokerages host platforms that have the alternative to exchange lesser known moneys. The more sluggish Forex currencies or"exotics" encounter even more volatility as opposed to the "majors" which can provide intriguing trading options. If you are planning on trading on one of the weaker, "exotic" currencies make sure that it on the list of currencies to invest with on your broker of choice's platform. In short make sure that you work with currencies that you have an interest in. Trades A lot of currency brokerages have reduced their minimum deposits to as low as $100. Higher leverage sums which were formerly only made accessible for expert traders are currently on hand for the lower end traders. The good thing about this is that with a 50:1 leverage, on a trading account of $1,000 the user can now sustain a place of $50,000. Be careful to remember, however, that leverage is a sort of financial loan, whilst the strength of your account is markedly increased the potential sum to be lost is also boosted. Regulation Each one of the leading Forex firms will have made sure that they are listed by one or more of the main regulatory authorities. For a user to observe that a company is fully regulated shows that the brokerage service is a serious operation devoted to fair market procedures. Signing up for membership with an unregulated broker is not advised, even more so with such a wide choice of regulated brokers out there.. Minimum amounts for deposit Every broker will designate a minimum deposit amount prior to the start of trading. Smaller deposit amounts can be put down using beginner or low volume trading accounts whereas the high roller accounts require higher minimums to begin. As there are such larger numbers of brokers operating the initial deposit amounts can play a significant role as each company pushes for your custom by trying to out compete rival companies with more tempting welcome offers. You will notice that it can be to your gain if you browse a little. Commissions and Spreads Forex brokerages profit though commissions and spreads. The broker's commission can either be set on a per transaction basis or over a set of transactions. The spread refers to the amount between the actual and the bidding prices of a currency or currency pair. Usually the spread is comes in at around 3-5 pips. Margins It is not unconventional for a broker to require that you fund your account with an advanced amount of capital to counter balance any potential losses that may be experienced. This advanced amount is known as a margin or margin requirement. Be sure that the conditions of the margin requirement are suited to your degree of trading. Trading Platforms The most widespread platform in the online Forex market is the Meta trading platform. It is very reliable and can be accessed both on your computer and your mobile device. Some brokers use their own proprietary trading platform as well so it is advisable to take the time to find out how trusted it is and whether there are any interruptions between messaging between their platform and the actual foreign exchange. Support See if you can get as much information as possible about the level of support available with a broker. Good indicators of a broker's level of service can include the trading education materials they have and if there is a live chat option. Together with this, many top companies display documentation, tutorials and eBooks to educate you on how to improve your chances of achieving profitable returns and cutting down minimising the risks. Forex trading involves risks. You can minimise the risks by researching your broker and testing out your trading strategy thoroughly.
Strategy:SPX Meium - High Risk Copy Trading - Intraday.
Strategy Results - http://www.myfxbook.com/members/DeanBlack/client-copy-medhigh/7422920 All results are tracked on real client accounts to show the net results after fees. The brokers with the highest spreads are use, to give a reflection of the worst expected results. Who is This Strategy For? This strategy is for you if you have a higher risk tolerance and are looking for an investmen tment with higher liquidity. This is an intraday strategy that will close all trades by the end of the US trading session making all equity available to investors at the end of each trading day. Brokerage Requirements: This strategy trades CFDs and is not suitable for US / Canada residents. Brokers offering CFDs on indices (Specifically the S&P500) is a requirement. Tested Brokers: The strategy is confirmed to work on the following brokers; : IC Markets (Best results). RoboForex Minimum Investment: $650 minimum is optimal for these risk settings. Anything under $500 will be higher risk. Anything under $400 failed all tests on this and is strongly discouraged. Leverage Required: This strategy requires 1:50 leverage (With a minimum $650 investment). Average Duration of trades: Trades will be held usually 2 - 12 hours and close on the same day they are opened. The strategy will risk a maximum of 5% over all positions at any one time. If the strategy has been losing the maximum risk per position will be decreased. If over 30% drawdown the maximum risk will be 2.5%. If over 40% drawdown the maximum risk will be 1.5%. Note, this refers to the parent strategy. Not individual copiers. If you connect a new account while the strategy is 10% down you will start on reduced risk although your account is not down. This measure is in place to protect the accounts of all investors and make the strategy stable to support long term compounding of gains. Maximum Loss: This strategy will stop trading if a loss of 65% (From high water mark) is hit. It will stop trading for at least three days to give the investors time to decide if they want to continue and the trading team time to check if adjustments to the strategy;s copier settings need to be made. Automatic Stop on Loss: This strategy has an automated stop loss on trading at 65%. At 35% the copying software will shut down, all trades will be closed and no new trades opened for a period of at least 3 days. Strategy Results -http://www.myfxbook.com/members/DeanBlack/client-copy-medhigh/7422920 All results are tracked on real client accounts to show the net results after fees. The brokers with the highest spreads are use, to give a reflection of the worst expected results.
Free Forex Trading Signals Specifically for Binary Options
Providing Free Forex Trading Signals Specifically for Binary Option Traders Hello Guys, I have started providing free forex trading signals specifically for Binary Options Traders since today. My hit rate is over 65% These trades will be superbly profitable if the payout is over 100%. Some brokers do offer payouts over 100% The next question that would come to anyone’s mind who reads this is, why are you giving free signals away if they are so profitable? Well, to be honest, I have a problem. The system I have made for giving me signals is superb, but I just cannot control myself and end up over trading. I over trade and end up blowing my account every single time. This system would be superb for someone who can control their emotions and not over trade. So today I have had enough, and I have decided to offer free trading signals. So what’s in it for me? The idea is to offer free trading signals to build a large following and then I will move on to a limited number of signals for free and all the signals for paid users. That’s how I plan to make money. Well, now you must be wondering that I have ranted enough so where’s the proof? I am attaching the link to my twitter profile where I have posted 5 trades along with the entry and proof that they hit targets. Please note that the expiry of 4 minutes works out best for binary options on my trading signals. Let me know what you guys think. If you truly feel it’s legit then please spread the word. Thank YouTwitter Posts
Website: https://www.fxopen.com Address:P.O. Box 590, Springates East, Government Road, Charlestown, Saint Kitts and Nevis Phone: +64-9-801-0123 FXOpen broker provides traders an access to Forex and cryptocurrency markets. You can open an account from 1 USD and start trading. FXOpen was founded by a group of traders as an educational center in 2005 before establishing itself as a Forex brokerage. With years of experience, the company has gained an excellent reputation as one of the leading and fastest-growing Forex brokers. Our mission is to offer traders professional services in Forex and cryptocurrency trading, managing and investing in PAMM accounts, analytics, all backup with excellent customer support. FXOpen provides a true ECN trading environment to its clients via the MT4 and MT5 terminals, offering the tightest spreads and low commissions.
Hello I'm 21 going in army soon and plan to invest 500 every month into SWRD(90%) + EIMI(10%) which broker should I use? The fees SCB - (10 dollar min commission fee or 0.2%, 0.2% trading fee, and a 0.43% forex spread) Saxo - (10 dollar min commission fee or 0.06%, 0.08% trading fee, custody fee of 0.12% and a forex spread of 0.75%) Also what do you guys think of investing in IT etfs like QQQ or healthcare etfs with low expense ratio. Do let me know if I'm missing out something or there's a better way of investing like investing every 2 months instead or robos. Thank you for reading. Edit - Thanks all for the feedback I really appreciate it. I have decided on Interactive brokers. I forgot to mention that after 2 years of NS I will be in uni for another 4 years and I probably won't be investing during this time. Assuming I liquidate my investment at 27 from SCB and transfer to IB, I calculated that I'm at a gain of 60 sgd by not going with IB which is really nothing and it seems kind of troublesome to do that so I'll just stick with IB. Thanks all
Forex Trading Basics Reddit - Forex Glossary Terms For Beginners
What is Forex - Terminology
https://preview.redd.it/pmjpy8sqh1x51.jpg?width=580&format=pjpg&auto=webp&s=b02715d6d6f153592a967f577c18578363ca731c The FOREX market is the largest financial market in the world. On a daily basis, trillions of dollars are traded in different currencies around the world. Being FOREX the basis for international capital transactions, its liquidity and volume are much greater than any other financial market. It is estimated that the average volume traded by the world's largest stock exchange, the New York Stock Exchange (NYSE) in a full month, is equal to the volume traded daily in the Forex currency market. In addition, it is estimated that this volume will increase by 25% annually. 80% of transactions are between the US dollar (USD), the euro (EUR), the yen (JPY), the British pound (GBP), the Swiss franc (CHF), and the Australian dollars (AUD) and Canadian (CAD).
What is traded in the Forex market?
We could just say that money. Trading in FOREX simultaneously involves buying one currency (for example euros) and selling another (for example US dollars). These simultaneous purchase and sale operations are carried out through online brokers. Operations are specified in pairs; for example the euro and the dollar (EUR / USD) or the pound sterling and the Yen (GBP / JPY). These types of transactions can be somewhat confusing at first since nothing is being purchased physically. Basically, each currency is tied to the economy of its respective country and its value is a direct reflection of people's perception of that economy. For example, if there is a perception that the economy in Japan is going to weaken, the Yen is likely to be devalued against other currencies. In other words, people are going to sell Yen and they are going to buy currencies from countries where the economy is or will be better than Japan. In general, the exchange of one currency for another reflects the condition of the health of the economy of that country with respect to the health of the economy of other countries. Unlike other financial markets such as the stock market, the currency market does not have a fixed location like the largest exchanges in the world. These types of markets are known as OTC (Over The Counter). Transactions take place independently around the world, mainly over the Internet, and prices can vary from place to place. Due to its decentralized nature, the foreign exchange market is operated 24 hours a day from Monday to Friday. >>> Forex Signals With Unbeatable Performance: Verified Forex Results And 5° Rated OnInvesting.com|Free Forex Signals Trial:CLICK HERE TO JOIN FOR FREE
The 8 most widely used currencies (USD, EUR, JPY, GBP, CHF, CAD, NZD, and AUD) are known as “ major currencies ”. All other currencies are called " minor currencies ." You don't need to worry about minor currencies, as you probably won't start trading them for now. The USD, EUR, JPY, GBP, and CHF currencies are the most popular and most liquid currencies on the market.
• Base currency
The base currency is the first currency in any currency pair. It shows how much the base currency is worth against the second currency. For example, if the USD / CHF has a rate of 1.6350, it means that 1 USD is worth 1.6350 CHF. In the forex market, the US dollar is in many cases the base currency to make quotes, the quotes are expressed in units of $ 1 on the other currency of the pair. In some other pairs, the base currency is the British pound, the euro, the Australian dollar, or the New Zealand dollar.
• Quoted currency
The quote currency is the second currency in the currency pair. This is often referred to as a "pip-currency" and any unrealized gains or losses are expressed in this currency.
A pip is the smallest unit of the price of any currency. Almost all currencies consist of 5 significant digits and most pairs have the decimal point immediately after the first digit. For example EUR / USD = 1.2538, in this case, a pip is the smallest change in the fourth decimal space, which is, 0.0001. A notable exception is the USD / JPY pair where the pip equals $ 0.01.
• Purchase price (bid)
The buying price (bid) is the price at which the market is ready to buy a specific currency in the Forex market. At this price, one can sell the base currency. The purchase price is displayed on the left side. For example, in GBP / USD = 1.88112 / 15, the selling price is 1.8812. This means that you can sell a GPB for $ 1.8812.
• Sale Price (ask)
The asking price is the price at which the market is ready to sell a specific currency pair in the Forex market. At this price, you can buy the base currency. The sale price is displayed on the right-hand side. For example, at EUR / USD = 1.2812 / 15, the selling price here is 1.2815. This means that you can buy one euro for $ 1.2815. The selling price is also called the bid price.
All Forex quotes include two prices, the bid (offer) and the ask (demand). The bid is the price at which the broker is willing to buy the base currency in exchange for the quoted currency. This means that the bid is the price at which you can sell. The ask is the price at which the broker is willing to sell the base currency in exchange for the quoted currency. This means that the ask is the price at which you will buy. The difference between the bid and the ask is popularly known as the spread and is the consideration that the online broker receives for its services.
• Transaction costs
The transaction cost, which could be said to be the same as the Spread, is calculated as: Transaction Cost = Ask - Bid. It is the number of pips that are paid when opening a position. The final amount also depends on the size of the operation. It is important to note that depending on the broker and the volatility, the difference between the ask and the bid can increase, making it more expensive to open a trade. This generally happens when there is a lot of volatility and little liquidity, as happens during the announcement of some relevant economic data.
• Cross currency
A cross-currency is any pair where one of the currencies is the US dollar (USD). These pairs show an erratic price behavior when the operator opens two operations in US dollars. For example, opening a long trade to buy EUR / GPB is equivalent to buying EUR / USD and selling GPB / USD. Cross-currency pairs generally carry a higher transaction cost.
When you open a new account margin with a Forex broker, you must deposit a minimum amount of money to your broker. This minimum varies depending on each broker and can be as low as € / $ 100 at higher amounts. Each time a new trade is executed a percentage of your account margin balance will be the initial margin required for a new trade based on the underlying currency pair, current price, and the number of units (or lots) of the trade. . For example, let's say you open a mini account which gives you a leverage of 1: 200 or a margin of 0.5%. Mini accounts work with mini lots. Suppose a mini lot equals $ 10,000. If you are about to open a mini lot, instead of having to invest $ 10,000, you will only need $ 50 ($ 10,000 x 0.5% = $ 50).
Leverage is the ratio of the capital used in a transaction to the required deposit. It is the ability to control large amounts of dollars with relatively less capital. Leverage varies drastically depending on the broker, it can go from 1: 2 to even 1: 2000. The most common level of leverage in Forex can currently be around 1: 200.
• Margin + leverage = dangerous combination
Trading currencies on margin allows you to increase your buying power. This means that if you have $ 5,000 in account margin that allows you a 1: 100 leverage, you can then buy $ 500,000 in foreign exchange as you only have to invest a percentage of the purchase price. Another way of saying this is that you have $ 500,000 in purchasing power. With more purchasing power you can greatly increase your potential profits without an outlay of cash. But be careful, working with a high margin increases your profits but also your losses if the trade does not progress in your favor. >>> Forex Signals With Unbeatable Performance: Verified Forex Results And 5° Rated OnInvesting.com|Free Forex Signals Trial:CLICK HERE TO JOIN FOR FREE
Hi guys I just recently started investing and have been using IB for awhile now. However, I am currently finding the monthly 10USD to be a bit of a roadblock. I have read multiple comparison for the different brokers for Singapore and still have a couple of questions. Can anyone enlighten me what the process of account funding is like for TDA? Do we transfer SGD into the account and then convert to USD and be subjected to foreign exchange fee? What is the forex spread like? Do we have the option of transferring USD directly? In the case that we have to withdraw our money, do we reverse the process by converting back to SGD? For those that are currently with TD Ameritrade already, what do you like about the broker in general? Should I shift from IB to TDA? Thank you! EDIT: Sorry I think I wasn’t very clear previously. I have been using IB for a while now so I understand all the processes for IB. What I am curious about is the process for TDA if anyone can enlighten me thank you!
Someone posted on here a few days ago asking about forex and forex trading in Kenya, I have gone through the responses and clearly, most people don’t have an idea. It is 3am in the morning and am in a good mood so let me make this post. This will be a comprehensive and lengthy post so grab a pen and paper and sit down. We’ll be here a while. FIRST OF ALL, who am I..? I am a forex trader, in Nairobi, Kenya..i have been actively involved in forex since I found out about it in Feb 2016 when I somehow ended up in a wealth creation seminar (lol) in pride inn Westlands, the one close to Mpaka Rd. Luckily for me, it was not one of those AIM global meetings or I’d be on Facebook selling God knows what those guys sell. I did not take it seriously till August of the same year and I have been active ever since. I don’t teach, mentor or sell a course or signals, I trade my own money. I am also posting from a throwaway account because I don’t want KRA on my ass. What the fuck is forex and forex trading. In simple plain English, forex is like the stock market but for currencies. Stock Market = Shares, forex = currencies. If you want more in-depth explanation, google is your friend. These currencies are pegged on specific countries, united states- dollar, UK- pound, euro zone- euro, Switzerland- Swiss franc, Kenya- Kenya shilling.. you get the point. Now, there are specific events and happenings between these economies that affect the movement and values of the currencies, driving their value (purchasing power up and down). Forex trading exploits these movements to make money. When the value is going up, we buy and vice versa (down –sell) Is forex trading illegal in Kenya? Is it a scam? Illegal, no. scam, no. All the banks in the world do it (KCB made about 4 billion from trading forex in 2019) Have there been scams involving forex in Kenya? Yes. Here is one that happened recently. This one is the most infamous one yet. Best believe that this is not the end of these type of scams because the stupidity, greed and gullibility of human beings is unfathomable. However, by the end of this post, I hope you won’t fall for such silliness. What next how do I make it work..? Am glad you asked. Generally, there are two ways to go about it. One, you teach yourself. This is the equivalent of stealing our dad’s car and hoping that the pedal you hit is the brake and not the accelerator. It is the route I took, it is the most rewarding and a huge ego boost when you finally make it on your own. Typically, this involves scouring the internet for hours upon hours going down rabbit holes, thinking you have made it telling all your friends how you will be a millionaire then losing all your money. Some people do not have the stomach for that. The second route is more practical, structured and smarter. First Learn the basics. There is a free online forex course at www.babypips.com/learn/forex this is merely an introductory course. Basically it is learning the parts of a car before they let you inside the car. Second, start building your strategy. By the time you are done with the babypips, you will have a feel of what the forex market is, what interests you, etc. Tip..Babypips has a lot of garbage. It is good for introductory purposes but not good for much else, pick whatever stick to you or jumps at you the first time. Nonsense like indicators should be ignored. The next step is now the most important. Developing the skill and building your strategy. As a beginner, you want to exhaust your naivety before jumping into the more advanced stuff. Eg can you identify a trend, what is a pair, what is position sizing, what is metatrader 4 and how to operate it, what news is good for a currency, when can I trade, what are the different trading sessions, what is technical analysis, what is market sentiment, what are bullish conditions what is emotion management, how does my psychology affect my trading (more on this later) an I a swing, scalper or day trader etc Mentors and forex courses.. you have probably seen people advertising how they can teach and mentor you on how to trade forex and charging so much money for it. Somehow it seems that these people are focused on the teaching than the trading. Weird, right..? Truth is trading is hard, teaching not quite. A common saying in the industry is “Those who can’t trade, teach” you want to avoid all these gurus on Facebook and Instagram, some are legit but most are not. Sifting the wheat from the chaff is hard but I did that for you. The info is available online on YouTube, telegram channels etc. am not saying not to spend money on a course, if you find a mentor whose style resonates with you and the course is reasonably priced, please, go ahead and buy..it will cut your learning curve in half. People are different. What worked for me might not work for you. Here are some nice YouTube channels to watch. These guys are legit..
After a short period of time, you will be able to sniff out bs teachers with relative ease. You will also discover some of your own and expand the list. Two tips, start with the oldest videos first and whichever of these resonates with you, stick with till the wheels fall off. How long will it take until things start making sense Give yourself time to grow and learn. This is all new to you and you are allowed to make mistakes, to fail and discover yourself. Realistically, depending on the effort you put in, you will not start seeing results until after 6 months. Could take longeshorter so there is no guarantee. Social media, Mentality, Psychology and Books Online, forex trading might not have the best reputation online because it takes hard work and scammers and gurus give it a bad name. However, try to not get sucked into the Instagram trader lifestyle as it is nowhere close to what the reality is. You will not make millions tomorrow or the day after, you might never even make it in this market. But that is the reality of life. Nothing is promised, nothing is guaranteed. Your mentality, beliefs and ego will be challenged in this market. You will learn things that will make you blood boil, you will ask yourself daily, how is this possible, why don’t they teach this in school..bla bla bla..it will be hard but growth is painful, if it wasn’t we’d all be billionaires. Take a break, take a walk, drink a glass of whatever you like or roll one..detox. Chill with your girl (or man) Gradually you will develop mental toughness that will set you up for life. Personally, I sorta ditched religion and picked up stoicism. Whatever works for you. Psychology, this is unfortunately one of the most neglected aspects of your personal development in this journey. Do you believe in yourself? Can you stand by your convictions when everyone is against you? Can you get up every day uncertain of the future? There will be moments where you will question yourself, am I even doing the right thing? the right way? It is normal and essential for your growth. People who played competitive sports have a natural advantage here. Remember the game is first won in your head then on the pitch. Books: ironically, books that helped me the most were the mindset books, Think and grow rich, trading for a living, 4 hour work week, the monk who sold his Ferrari..just google mindset and psychology books, most trading books are garbage. Watch and listen to people who have made it in the investing business. Ray Dalio, warren, Bill Ackman and Carl Icahn. This is turning out to be lengthier than I anticipated so I’ll try to be brief for the remaining parts. Brokers You will need to open up an account with a broker. Get a broker who is regulated. Australian ones (IC Market and Pepperstone) are both legit, reliable and regulated. Do your research. I’d avoid local ones because I’ve heard stories of wide spreads and liquidity problems. International brokers have never failed me. There are plenty brokers, there is no one size fits all recommendation. If it ain’t broke..don’t fix it. Money transfer. All brokers accept wire transfers, you might need to call your bank to authorize that, avoid Equity bank. Stanchart and Stanbic are alright. Large withdrawals $10k+ you will have to call them prior. Get Skrill and Neteller if you don’t like banks like me, set up a Bitcoin wallet for faster withdrawals, (Payoneer and Paypal are accepted by some brokers, just check with them.) How much money can I make..? I hate this question because people have perceived ceilings of income in their minds, eg 1 million ksh is too much to make per month or 10,000ksh is too little. Instead, work backwards. What % return did I make this month/ on this trade. Safaricom made 19.5% last year, if you make 20% you have outperformed them. If you reach of consistency where you can make x% per month on whatever money you have, then there are no limits to how much you can make. How much money do I need to start with..? Zero. You have all the resources above, go forth. There are brokers who provide free bonuses and withdraw-able profits. However, to make a fulltime income you will need some serious cash. Generally, 50,000 kes. You can start lower or higher but if you need say 20k to live comfortably and that is a 10% return per month, then you can do the math on how big your account should be. Of course things like compound interest come into play but that is dependent on your skill level. I have seen people do spectacular things with very little funds. Taxes..? Talk to a lawyer or an accountant. I am neither. Family? Friends? Unfortunately, people will not understand why you spend hundreds of hours watching strangers on the internet so it is best to keep it from them. Eventually you will make it work and they will come to your corner talking about how they always knew you’d make it. The journey will be lonely, make some trading buddies along the way. You’d be surprised at how easy it is when people are united by their circumstances (and stupidity) I have guys who are my bros from South Africa and Lebanon who I have never met but we came up together and are now homies. Join forums, ask questions and grow. That is the only way to learn. Ideally, a group of 5-10 friends committed to learning and growth is the best model. Pushing each other to grow and discovering together. Forex is real and you can do amazing things with it. It is not a get rich quick scheme. If you want a quick guaranteed income, get a job. And now it is 5am, fuck. This is oversimplified and leaves out many many aspects. Happy to answer any questions.
Hey guys/gals. I’ve kinda got two questions in here, the main one is about FairForex though. Anybody have any experience dealing with them? I know they’re offshore/unregulated and that can be sketchy/has potential to be fucked. But the group I’m with all use them and have good things to say. 1:400 leverage, only a minimum of $100, and decent spreads. Not heard too many gripes about customer service or fucky withdrawal methods. I’m only looking to start with about 200 bucks on my live account (doing DEMO right now). I’ve got a TD Ameritrade account and would like to use them but I can’t get approved for margins with that little initial capital. And for part two So I’m about two months in to this forex game. I was brought in by two of my buddies from HS and they got me signed up with their team on IML Academy ( I know I know). I’ve found that they’re 46 video academy has been just OK. Honestly I find that these “gurus” or leaders are pretty awful at actually teaching and explaining things, though it has done a good job of pointing me in the right direction in being able to research further about certain topics. The team I’m on seems to be very supportive, they don’t push me to do recruiting or anything. Zoom chats at least every day, though 3/4 are about the “winning mentality” with the other 1 being about trading. But even when I tap in for that one those guys are honestly terrible teachers, pretty bad at explaining thought processes and reasoning behind taking certain trades. They’ve got me in two signal chats that usually put up at least 400-1000 pips a week depending on if they’re just doing pairs or if they throw some Indices in there too. Should I stick around and use the signal chat to at leastbreak even while I learn my way, or just cut my losses and figure all this shit out and be my own self made man? Anyone been in my shoes before, shitty pyramid scheme but has a good team? Also anyone have thoughts on the harmonic scanner? That’s the tool they have us laying for TL;DR Anyone have thoughts on FairForex as a broker? Also I’m in IML Academy, find that the videos are pretty bogus but my team is good. Should I stick around?
Aight so I need a forex broker. Im in the U.S. so that drops my number of options fast. Ive seen that forex trading with TOS is not that great... unless yall say otherwise? I prefer mt4/5, and I want a broker with no hidden fees, fast execution times, minimal to 0 commissions and variable spread. (not a fixed spread) One of the reasons I dont like TOS are the lot size restrictions, at least in my case. There is a lot of information going back and forth its confusing.
Anyone doing little forex trading? I’m curious how much of the not allowed is allowed.
I see in terms it’s not allowed. But curious if I can bounce few K back and forth over the week or month without setting off any alarms. Anyone doing it? How much/often? I see Revoult gives a near perfect rate match while most forex brokers have 0.4 spread on the RUB which is nearly my entire profit interest on a weekly move.
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