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Not every Forex broker provides guaranteed stop loss, and most that do are not even regulated. Therefore, we did our own market research to find out the best brokers that provide guaranteed stop loss and are well-regulated: 1. XM XM is an internationally recognized online Forex and CFDs broker that began operations in 2009. Known for its wide range of assets, competitive spreads, and multiple trading account types, the broker is the best choice for online trading. Tradable Instruments It allows trading in more than 1,000 instruments and over 55 currency pairs from a single trading account. Other assets supported include indices, shares, commodities, precious metals, energies, and cryptocurrencies. Trading Accounts XM offers four trading accounts types – Micro, Standard, Ultra-low, and Shares. Each account has a different deposit requirement and provides the trader with favorable trading conditions. 80% of novice traders trade with no demo accounts and accounts lose money. A demo account is also available to avoid complex instruments. Minimum Deposit Traders are required to deposit a minimum of $5 for using the Standard and Micro accounts, while the XM Ultra-Low and XM Shares account holders need to pay a minimum of $50 and $100, respectively. Trading Platforms XM allows the trader to trade with the two most popular Forex trading platforms – Forex MetaTrader 5 and MetaTrader 4. Both platforms can be accessed via the web across all devices as well as the mobile app. Spreads and Commissions The broker offers the lowest possible spreads and commissions fees that vary with the accounts. However, it charges no fees on making deposits or withdrawals. You can also know more about its trading charges on our expert’s review page. Regulation The Forex broker is regulated by the Australian Securities and Investments Commission (ASIC), the International Financial Services Commission (IFSC), and the Cyprus Securities and Exchange Commission (CySEC). Maximum Leverage Trading is made flexible with the same margin requirements and leverage ranging from 1:1 to 888:1. Margin requirements remain unchanged while leverage can be modified. Guaranteed Stop Loss XM allows guarantee fills on orders up to 50 lots at the best available market price. Research and Education The website of the broker has well-curated educational resources, which include market overview, news feeds, XM Research, technical summaries, economic calendar, podcasts, tutorial videos, webinars, and seminars. Customer Service The customer service is prompt and available in multiple languages. It can be reached via live chat or email or over the phone. 2. easyMarkets easyMarkets is another online forex and CFDs broker that was founded in 2001. The broker is quite popular among traders for making trading convenient through its innovative Freeze Rate and dealCancellation features. Tradable Instruments The broker offers an extensive range of over 200 instruments and more than 150 currency pairs. It allows trading in 8 asset classes, including forex, CFDs, indices, shares, commodities, precious metals, cryptocurrencies, and options. Trading Accounts easyMarkets offers three account types for trading – Standard, Premium, and VIP. These accounts have different deposit requirements and serve individual trading needs. It also offers a demo account (major traders with no experience with demo accounts lose money, to stop losses try demo accounts before a real one). Minimum Deposit Traders need to deposit different amounts depending on the type of account chosen. The minimum deposit for a standard account is $25, while Premium and VIP account holders need to invest $2,000 and $10,000 minimum, respectively. Trading Platforms easyMarkets trader gets the choice of trading through its proprietary web-based platform or MetaTrader 4 (MT4) platform or mobile app. All the platforms come with pre-installed technical and analytical tools that give a smooth trading experience. Spreads and Commissions Unlike its competitors, the Forex broker offers fixed spreads regardless of market volatility. However, spread requirements are relative to the trading accounts, instruments, and trading platforms. Deposits and withdrawals are free of charge. Regulation easyMarkets is authorized by ASIC and CySEC, making it a transparent and secure broker for online trading. Also, traders’ funds are kept safe with the regulators’ reimbursement schemes. Maximum Leverage Leverage ratio at easyMarkets varies with assets, trading accounts, and the regulators. The maximum leverage is 1:30 for European Union traders and 1:400 for Australian traders. Guaranteed Stop Loss easyMarkets gives the trader free access to guaranteed stop loss to stop runaway losses. It enables a trader to set a limit to the maximum risk when trading. The broker closes the trade exactly at the set rate, or when the market moves unexpectedly. Research and Education Its comprehensive selection of research and educational materials is an added advantage for novice traders. On the research side, traders gain access to market news, trading charts, live currency rates, and an economic calendar. The educational section has an engaging collection of trading courses, eBooks, and informative articles and videos. Customer Service easyMarkets offers easily accessible and satisfactory customer service during the trading week. Apart from the live chat, email, and phone, it can be reached via social media. 3. Plus500 Plus500 is a leading Forex and CFDs broker that was established in 2008. The broker delivers the best-in-class trading experience through its innovative financial instruments. The safety of traders is the utmost priority of Plus500, understanding which it keeps their funds in segregated bank accounts and uses SSL encryption. Tradable Instruments The broker supports over 2,000 instruments, including forex, CFDs, indices, shares, commodities, exchange-traded funds, options, and cryptocurrencies. Traders can take advantage of them to diversify their investment portfolios. Trading Accounts Only two account types are available for trading with Plus500 – Consider whether Retail or Standard account and Professional account. The two are different in terms of leverage, which is 1:30 for the Standard account and 1:300 for the Professional account. There is also an option for the demo account to sop losses. Minimum Deposit The minimum deposit requirement at Plus500 broker changes with the payment method used. For example, traders need to deposit $100 if they are paying via credit or debit cards or electronic wallets and $300 when paying through bank transfers. Trading Platforms As opposed to other mainstream online brokers, Plus500 has its user-friendly proprietary trading platform that is suited for web-based as well as mobile trading. Since it does not offer the MetaTrader platform, traders would miss some of the advanced trading features like automated trading. Spreads and Commissions Plus500 relies on instrument-specific spreads for making revenues. Though it does not charge deposit and withdrawal fees, additional fees could be applied in the form of overnight funding, currency conversion fees, guaranteed stop-loss fees, and account inactivity fees. Regulation The forex broker is highly regulated by the CySEC, the ASIC, the UK Financial Conduct Authority (FCA), the Seychelles Financial Services Authority (FSA), the Israel Securities Authority (ISA), and the Monetary Authority of Singapore (MAS). Maximum Leverage The maximum leverages offered under the Retail and Professional accounts are 1:30 and 1:300, respectively. Guaranteed Stop Loss Traders, who cannot afford to take the high risk of losing money, can add a guaranteed stop order to their trading positions when trading with Plus500. By limiting their potential losses, the broker ensures that they never lose more than their investments. Research and Education The broker has limited research and educational offerings, which include charting tools, economic calendar, Trader’s Guide, and video tutorials. Customer Service It offers 24/7 reliable customer service with live chat and email support.

The world of foreign exchange, or forex, can be daunting even to experienced hands-on investors. However, there are plenty of books on the subject of currency trading, ranging from basic introductions to the forex market to advanced strategies based on fundamental analysis and technical analysis. These are five of the best that have stood the test of time and the forex market's ups and downs. Here are four hugely effective books: Currency Trading for Dummies by Brian Dolan Currency Trading for Dummies is one of the best of the lot for beginners. It presents clear, easy-to-read instructions on currency trading and descriptions of the forex market. In fact, it's not a bad read for more seasoned hands who need a quick refresher on the basics. It's regularly used as a resource by the financial media. Originally published in 2011, the updated book was co-written by Brian Dolan, former chief currency strategist at Forex.com, and Kathleen Brooks, director of research at Forex.com. P.S: Participate in the New Year promo Contest of LiteFinance & Win iPhone 13 Pro Max! Day Trading and Swing Trading the Currency Market by Kathy Lien Kathy Lien is a world-renowned currency analyst, BK Asset Management's managing director, and a frequent guest on Bloomberg, CNBC, and Reuter's programs. Now in its third edition, her book employs a two-pronged approach that combines theory and actionable learning with balanced insight into the fundamental and technical forex trading strategies designed to generate regular profits. Lien walks readers step-by-step through Forex fundamentals such as the long- and short-term factors affecting currency pairs. She also covers the technical analysis trading strategies that professional forex traders use on a daily basis. Japanese Candlestick Charting Techniques by Steve Nison Steve Nison's Japanese Candlestick Charting Techniques is credited with introducing this versatile technical-analysis tool, now widely used by forex traders, to the Western world. The book provides a lengthy and in-depth education on candlestick charting, which is also used for futures, speculation, hedging, equities, and anywhere else that technical analysis may be applied. Nison's work is ideal for traders seeking to up their trading strategies game. As they do, they might want to consult one of the sequels. Nison has written: The Candlestick Course, Beyond Candlesticks: New Japanese Charting Techniques Revealed, and Strategies for Profiting with Japanese Candlestick Charts. How to Make a Living Trading Foreign Exchange by Courtney Smith Courtney Smith begins How to Make a Living Trading Foreign Exchange with an introduction to the world of forex that explains how the market works. But most of this 2010 work is devoted to making money, offering six strategies to earn a steady income by trading. He also provides important risk management techniques as well as material on the psychology of trading. It includes an explanation of Smith's unique "rejection rule," a strategy designed to double the profit generated from basic channel breakout systems.

Alexander Graham Bell famously said, "Before anything else, preparation is the key to success". This is true for many professional fields, be it soccer, archery, or online trading. Forex rookies in South Africa have ample opportunities to learn. FX Brokers provide tutorials, articles, and other helpful content. However, preparation is not only vital for novices. Even experienced traders begin their day with preparatory steps. It is not enough to jump in once the market opens. You should spend time to get everything set, including your mind. What Successful Traders Have in Common Pros get ready for every trading day. Consistent profits require much more than pressing the right buttons at the right time. You need to see the bigger picture and pursue a solid strategy. Forex superstars share these strengths: 1. superb pattern recognition, 2. rigorous self-discipline, and 3. The right mindset. All of these skills may be developed through training. Learn what is Forex trading, and take advantage of opportunities in South Africa. FXTM and other reputable brokers provide a wealth of educational material. In Forex trading, your knowledge is your main weapon. There are two key systems of analytical work. Fundamental Analysis Currency rates are affected by a wide range of events of both political and economic nature. From domestic policies to geopolitical tensions, the scope of potential factors seems too broad to take in. However, with the economic calendar embedded in trading terminals, all relevant news is condensed into handy forecasts. Some of the most important indicators are GDP, interest rates, unemployment, trade balance, and manufacturing. Technical Analysis Adherents of the approach analyze recent market data to make predictions. No trend is seen as random. Traders focus on volatility and strength of trends, support and resistance, momentum, and other features. Psychological Preparation Do not disregard the value of mental preparation. It is bound to accelerate your learning curve, and help realize your potential to the fullest. Here is what you should do. 1. Shower This may seem like a trivial thing, but showering has a deeper meaning than just making your body clean. It activates your central nervous system, so you feel fully awake and ready for a full day of intense critical thinking. If you are a morning person, make it a habit to get up with the sun. This way, you will accomplish more. 2. Exercise Many successful traders start their day with yoga and meditation. This helps to stabilize your breathing and control emotions that could influence your trading behavior. Meanwhile, your body will be better prepared for hours of sedentary work. You could also spend a few minutes visualizing your trading strategy and goals for the day. A combination of these steps will program your mind for success. If you aren't keen on exercising, at least do a few stretches. 3. Review Do not think you can just turn on the laptop and start trading right away. Take time to think of your prior performance, and see what should be changed. Such evaluations must be carried out regularly — at least, weekly. Consistent success does not entirely rely on your skills. It is important to see what lessons can be learned from past experience, and incorporate them into your everyday practice. This is true for many professional fields beyond finance. For instance, soccer coaches watch recordings of their team's games, analyzing what went right and wrong. Poker stars make notes on game techniques, decisions, and their outcome. For Forex players, having a trading journal could be a great help. Keep screenshots of your trading moves and review those from time to time. 4. Mindfulness Traders often fall victim to the same human penchants. It is not easy to suppress the natural urge to take a shortcut, to make impulsive decisions, or choose the easiest way out. Develop your mindset, and psych yourself up before every trading day. Be aware of your own psychological inclinations, and the consequences they may have. Trading is more than just pressing the buttons at the right time — it requires composure and self-awareness. The Bottom Line Profitable trades are based on knowledge of the trends and the ability to foresee market movement. Consistent achievements require thoughtful preparation — both physical and mental. Start your day feeling fresh, and it will be easier to make the right trading decisions. Sharpen your mind like a samurai sword, and manage your funds thoughtfully. Self-control and discipline will bring impressive gains. Also read: Compare Now | Demo Trading Vs. Live Trading

Not every Forex broker provides guaranteed stop loss, and most that do are not even regulated. Therefore, we did our own market research to find out the best brokers that provide guaranteed stop loss and are well-regulated: 1. XM XM is an internationally recognized online Forex and CFDs broker that began operations in 2009. Known for its wide range of assets, competitive spreads, and multiple trading account types, the broker is the best choice for online trading. Tradable Instruments It allows trading in more than 1,000 instruments and over 55 currency pairs from a single trading account. Other assets supported include indices, shares, commodities, precious metals, energies, and cryptocurrencies. Trading Accounts XM offers four trading accounts types – Micro, Standard, Ultra-low, and Shares. Each account has a different deposit requirement and provides the trader with favorable trading conditions. 80% of novice traders trade with no demo accounts and accounts lose money. A demo account is also available to avoid complex instruments. Minimum Deposit Traders are required to deposit a minimum of $5 for using the Standard and Micro accounts, while the XM Ultra-Low and XM Shares account holders need to pay a minimum of $50 and $100, respectively. Trading Platforms XM allows the trader to trade with the two most popular Forex trading platforms – Forex MetaTrader 5 and MetaTrader 4. Both platforms can be accessed via the web across all devices as well as the mobile app. Spreads and Commissions The broker offers the lowest possible spreads and commissions fees that vary with the accounts. However, it charges no fees on making deposits or withdrawals. You can also know more about its trading charges on our expert’s review page. Regulation The Forex broker is regulated by the Australian Securities and Investments Commission (ASIC), the International Financial Services Commission (IFSC), and the Cyprus Securities and Exchange Commission (CySEC). Maximum Leverage Trading is made flexible with the same margin requirements and leverage ranging from 1:1 to 888:1. Margin requirements remain unchanged while leverage can be modified. Guaranteed Stop Loss XM allows guarantee fills on orders up to 50 lots at the best available market price. Research and Education The website of the broker has well-curated educational resources, which include market overview, news feeds, XM Research, technical summaries, economic calendar, podcasts, tutorial videos, webinars, and seminars. Customer Service The customer service is prompt and available in multiple languages. It can be reached via live chat or email or over the phone. 2. easyMarkets easyMarkets is another online forex and CFDs broker that was founded in 2001. The broker is quite popular among traders for making trading convenient through its innovative Freeze Rate and dealCancellation features. Tradable Instruments The broker offers an extensive range of over 200 instruments and more than 150 currency pairs. It allows trading in 8 asset classes, including forex, CFDs, indices, shares, commodities, precious metals, cryptocurrencies, and options. Trading Accounts easyMarkets offers three account types for trading – Standard, Premium, and VIP. These accounts have different deposit requirements and serve individual trading needs. It also offers a demo account (major traders with no experience with demo accounts lose money, to stop losses try demo accounts before a real one). Minimum Deposit Traders need to deposit different amounts depending on the type of account chosen. The minimum deposit for a standard account is $25, while Premium and VIP account holders need to invest $2,000 and $10,000 minimum, respectively. Trading Platforms easyMarkets trader gets the choice of trading through its proprietary web-based platform or MetaTrader 4 (MT4) platform or mobile app. All the platforms come with pre-installed technical and analytical tools that give a smooth trading experience. Spreads and Commissions Unlike its competitors, the Forex broker offers fixed spreads regardless of market volatility. However, spread requirements are relative to the trading accounts, instruments, and trading platforms. Deposits and withdrawals are free of charge. Regulation easyMarkets is authorized by ASIC and CySEC, making it a transparent and secure broker for online trading. Also, traders’ funds are kept safe with the regulators’ reimbursement schemes. Maximum Leverage Leverage ratio at easyMarkets varies with assets, trading accounts, and the regulators. The maximum leverage is 1:30 for European Union traders and 1:400 for Australian traders. Guaranteed Stop Loss easyMarkets gives the trader free access to guaranteed stop loss to stop runaway losses. It enables a trader to set a limit to the maximum risk when trading. The broker closes the trade exactly at the set rate, or when the market moves unexpectedly. Research and Education Its comprehensive selection of research and educational materials is an added advantage for novice traders. On the research side, traders gain access to market news, trading charts, live currency rates, and an economic calendar. The educational section has an engaging collection of trading courses, eBooks, and informative articles and videos. Customer Service easyMarkets offers easily accessible and satisfactory customer service during the trading week. Apart from the live chat, email, and phone, it can be reached via social media. 3. Plus500 Plus500 is a leading Forex and CFDs broker that was established in 2008. The broker delivers the best-in-class trading experience through its innovative financial instruments. The safety of traders is the utmost priority of Plus500, understanding which it keeps their funds in segregated bank accounts and uses SSL encryption. Tradable Instruments The broker supports over 2,000 instruments, including forex, CFDs, indices, shares, commodities, exchange-traded funds, options, and cryptocurrencies. Traders can take advantage of them to diversify their investment portfolios. Trading Accounts Only two account types are available for trading with Plus500 – Consider whether Retail or Standard account and Professional account. The two are different in terms of leverage, which is 1:30 for the Standard account and 1:300 for the Professional account. There is also an option for the demo account to sop losses. Minimum Deposit The minimum deposit requirement at Plus500 broker changes with the payment method used. For example, traders need to deposit $100 if they are paying via credit or debit cards or electronic wallets and $300 when paying through bank transfers. Trading Platforms As opposed to other mainstream online brokers, Plus500 has its user-friendly proprietary trading platform that is suited for web-based as well as mobile trading. Since it does not offer the MetaTrader platform, traders would miss some of the advanced trading features like automated trading. Spreads and Commissions Plus500 relies on instrument-specific spreads for making revenues. Though it does not charge deposit and withdrawal fees, additional fees could be applied in the form of overnight funding, currency conversion fees, guaranteed stop-loss fees, and account inactivity fees. Regulation The forex broker is highly regulated by the CySEC, the ASIC, the UK Financial Conduct Authority (FCA), the Seychelles Financial Services Authority (FSA), the Israel Securities Authority (ISA), and the Monetary Authority of Singapore (MAS). Maximum Leverage The maximum leverages offered under the Retail and Professional accounts are 1:30 and 1:300, respectively. Guaranteed Stop Loss Traders, who cannot afford to take the high risk of losing money, can add a guaranteed stop order to their trading positions when trading with Plus500. By limiting their potential losses, the broker ensures that they never lose more than their investments. Research and Education The broker has limited research and educational offerings, which include charting tools, economic calendar, Trader’s Guide, and video tutorials. Customer Service It offers 24/7 reliable customer service with live chat and email support.

Owing to modern advancements, the world has seen quite a lot of financial developments. One such development, Forex and CFD trading has become quite popular amongst traders due to various factors such as ease and availability. However, if you’e interested in investing in Forex, it becomes essential that you choose the proper Forex and CFD broker. So, to assist you, this CFD trading guide will help you choose the one that is the best and most reliable for you. 1. The Regulations Must Be Proper The very first and the most important thing to consider before choosing a trading broker is the regulation. Now, no matter how much security, various platforms today are full of fraudulent traders brokers who may take away all your funds. In such a situation, it becomes important that the broker protects your rights and your interests. For example, these regulations can help in protecting your funds if or whenever your broker has disappeared or doesn’t have sufficient funds. It also ensures that your funds are kept safe and secure in a separate account than the broker’s account. Additionally, such regulations help in maintaining and encouraging fair trading practices. This ensures that the execution of your trades is at the proper and recent market prices. However, to gain all of the above benefits, you need to go for a licensed broker. You also need to make sure it has a clean record. 2. Security Policies One of the biggest risks of financial platforms is the disclosure of confidential information such as your bank account details, card details, and even your I.D proof such as a passport. Thus, this is where data security comes into consideration. When you’re choosing a Forex and CFD trading broker, you need to take care of security concerns. There are plenty of chances that cybersecurity may not work as efficiently as it should. This can put your financial data as well as personal data at a high risk of theft. Hence, it becomes necessary to go for a broker that offers proper security via a cybersecurity firm and necessary encryptions. 3. Friendly Trading Platform The trading platform needs to have a friendly user-interface to make it easier for you. An easy to use user-interface will give you a smooth and fun experience while trading. You need to ensure that the trading software provides you easy navigation, technical analysis tools, Forex indicators, charting capabilities, etc. All these factors will make it easier for you to succeed. Also, try to use a demo trading account at first then move on to real trading accounts. Besides, catch the certain differences between demo and live trading: https://topasiafx.com/blog/demo-trading-vs-live-trading The software needs to look secure and reliable. Additionally, it should include risk management functionality and customizable add-ons. The good news is you can get a free demo from most Forex and CFD brokers. During the demo, you are free to check out the software and test out the platform to decide if it is the right one for you or not. 4. Responsive Customer Support If you get into trading, you need a broker with responsive and reliable customer support. You are vulnerable to face issues all the time that you need to solve as soon as possible. A broker with good customer support can help you solve your problem efficiently if you ever faced one. They will also be always there to answer any inquiry or doubt that you have. A possible issue you might face could be related to deposits, withdrawals, incorrect execution of trades, and other such issues. That is why you need someone that you can contact to help you solve the issue immediately. Good customer support should give you the option to contact them through multiple ways such as live chat, email, and phone. It could be a bonus if they provide different languages other than English. 5. Fast Deposit and Easy Withdrawal The broker of choice should allow you to deposit money in several ways. It should include debit cards, credit cards, wire transfers, and bank checks. This wide range of methods will make it much easier for you to deposit money and start trading right away. Regarding withdrawals, you need a broker that provides a wide range of payout options. Moreover, your broker needs to give you the smoothest and fastest withdrawal process possible. You need to pay attention to the deposit and withdrawal fees if there are any. Some brokers take more fees than others. Also, there might be a daily withdrawal limit, so check that out before you start trading as well.

Hey, everyone. A new BLAST has arrived. So, welcome to today’s topic which is DEFINITELY gonna shed a light on few misconceptions that many people have concerning the Foreign exchange market. It is no doubt that Forex trading is at the highest peak of popularity. People are continuously choosing online trading as a decent and passive profession. But there are some people in our society who have gained several misconceptions about the FX market on their minds. But wait — there’s more. They also encourage other people to believe in their misconceptions regarding the FX market. Therefore, we have to stop this misconception from spreading, together obviously. So, today I’ll be sharing 6 misconceptions that most people have concerning the FX market. Let’s rock and roll! 1. FX trading is easy as water Trading currencies shouldn’t be that difficult, right? Well, it isn’t rocket science, but it’s not really safe to say that it’s “easy”. Everyone, or at least everyone except professional traders, says that you only need to read a book or two about trading, set up a brokerage account, and you can jump right to making profits in the Forex market. Deep down you know it’s not true! Well, sorry to disappoint you, but understanding the trading method isn’t a cup of tea, and if you’re in for a quick turnover, you’re in for a rude awakening. Understanding Forex trading takes a massive amount of education regarding the market, strategies, risk management, active Forex trading times, technologies and tools, and Forex market jargon. Besides, you’ll also have to acquire a few years of experience to be able to place winning trades that will bring you a considerable profit. So, if you are a beginner, spend some time getting educated on everything related to the market and trading currencies. 2. Trading demands a Degree in Economics. As mentioned earlier in the topic, understanding how to trade Forex is anything but easy. Yet, on the flip note, you also don’t need to have a degree that says you are an economics wizard to understand how trading currencies work. Now, there’s no doubt that the more you know about world economics and economic concepts, the easier it’s going to be to trade foreign currencies. Yet, it isn’t an imperative factor that will decide whether or not you can be a trader. In fact, many Forex traders come from various academic backgrounds, not only economics. Yet, to be a successful trader, you’ll need to have a good head for numbers, an intuition to help you estimate where is the market heading, and the ability to react and make critical financial decisions depending on the market-moving events. 3. You don’t need to start with a demo trading account Like I’ve mentioned earlier, you’re in for a rude awakening if you think you can start trading and make profits immediately as a beginner. Even after you learn the basics of the Forex market and trading, you still need to test your trading skills out before you jump into the market. Or, at least that’s what you should do if you don’t want to lose money. Understand that learning about Forex is one thing, actually trading on the market is an entirely different thing. And, what better way to learn how to trade by actually applying everything that you have learned than by using a demo trading account? Plus, you also don’t have to worry about losing money. Take demo trading as an indicator of your trading skills. You’ll avoid putting your capital at risk, familiarize yourself with the trading platform and Foreign exchange broker, and learn a thing or two about the psychology of trading, meaning that you’ll learn how to manage your emotions when trading. 4. Forex trading makes you rich overnight This misconception about Forex trading is entirely the result of a little bit of false advertising. It’s a familiar story and it usually goes like this! Who doesn’t want to get rich overnight or with little effort? So, this “get rich quick” advertising line has brought many people into the arena who are looking for easy or rapid returns. Unfortunately, this may not be entirely true, or at least it is a quite rare scenario. Building wealth with trading takes patience as for the average trader, it’s rarely an easy road to riches but instead can be a rocky highway that can also involve losses and potential penury. You’ll have to trade consistently, avoiding the gambling-throw-it-all-at-a couple-trades approach. Over time, as your trading skills improve, so will your trading decisions and your returns. But, once again, it all takes time to happen. 5. Forex is an unregulated market Another misconception about the Forex market is that there is no authority out there to say what is right and what is not correct to happen during trades. Picture this! Now, technically, the Forex market is one of the biggest and most liquid decentralized markets in the world, meaning that there’s no single global body to police this market. However, read that again, no SINGLE global body because some market regulators are covering the jurisdictions where most of the world’s Forex brokerage businesses are located. For example, in Australia, you’ll find Forex brokers regulated by ASIC. In the US, brokers are regulated by the CFCT regulator, while in the UK, they are regulated by FCA. These regulators are essential to make the market safe for traders because there are massive amounts of money passing the market every day, which makes it very attractive for all sorts of scammers and white-collar criminals. So, these regulators ensure that those qualified to do Forex brokerage are legit and trust-worthy. Thus, it is imperative when you’re choosing a broker to check whether or not it is licensed by the Forex market regulator in your location. In the end, there are a lot of misconceptions that exits even today regarding the Forex market. As a result, many people are unknowingly joining the FX market for earning easy money and facing losses due to the lack of knowledge regarding the FX market. So, this needs to be stopped, we all need to be aware of that sort of people who are spreading the delusions. cheers!