Nancy parez Posted August 21, 2020 Share Posted August 21, 2020 Hi, If you are a new Forex trader, then first you need to know what is real Forex trading and how does it works? and what is Forex brokers? Because Forex brokers is also important in Forex trading and gain success in Forex trading. So, Lets start. What is a Forex and How does it work? Foreign exchange market, Forex or FX is a global decentralized or over-the-counter market for the trading of currencies. This market determines foreign exchange rates for every currency. It includes all aspects of buying, selling and exchanging currencies at current or determined prices. In terms of trading volume, it is by far the largest market in the world. The main participants in this market are the larger international banks. Financial centers around the world function as anchors of trading between a wide range of multiple types of buyers and sellers around the clock, with the exception of weekends. The foreign exchange market works through financial institutions and operates on several levels. Behind the scenes, banks turn to a smaller number of financial firms known as dealers, who are involved in large quantities of foreign exchange trading. Most foreign exchange dealers are banks, so this behind-the-scenes market is sometimes called the interbank market. Trades between foreign exchange dealers can be very large, involving hundreds of millions of dollars. Trading from 22:00 GMT on Sunday (Sydney) until 22:00 GMT Friday (New York). According to the Bank for International Settlements, the preliminary global results from the 2019 Triennial Central Bank Survey of Foreign Exchange and OTC Derivatives Markets Activity show that trading in foreign exchange markets averaged $6.6 trillion per day in April 2019. This is up from $5.1 trillion in April 2016. Measured by value, foreign exchange swaps were traded more than any other instrument in April 2019, at $3.2 trillion per day, followed by spot trading at $2 trillion. What is a Forex Broker and How does it work? There are 3 types of forex brokers: ECN Broker MM broker STP broker ECN means Electronic Communications Network (it is a network) Within this network the broker collects the prices of several liquidity providers such as banks, or financial institutions and always selects the best prices to offer them to its customers. Broker ECN offers real market conditions offering its customers the possibility of operating under the same conditions as banks and other large companies. Spread are lower offering Market Makers or STP brokers. There are no conflicts of interest with its customers. Transactions in ECN are performed as instant execution, that is, without any delay. Market Maker are the brokers that create their own markets and conditions, which means that prices do not enter directly from banks etc. Virtually every 1 of 3 brokers is Market Maker. They offer spreads a little higher than ECN or STP. STP is by Straight Trough Processing. They work more or less like ECN, sending all transactions directly to the market. STP brokers always increase the spreads offered by liquidity providers and this is their benefit. There are no conflicts of interest with its customers. STP brokers offer to carry out transactions as Instant execution, without any delay. Operations always go to the foreign exchange market, liquidity providers, banks or financial institutions. More about Forex trading for beginners. I hope it's will little help you for understanding about Forex trading and Brokers. thank you. Link to comment Share on other sites More sharing options...
Ross Edwards Posted August 21, 2020 Share Posted August 21, 2020 For some people trading is easy, for some people it is very tough. It is fully depend on the knowledge and techniques trader has. If he can do all the trade very sharply it will be very easy to make profit. But those who can't deal the trade simply with their mind they may face difficulties in forex market. Sometimes some trader feels the trade tough just because of their broker. Broker plays an important role in trading. In my trading career, my broker TP Global FX helps me to make the trade easy. They give all kind of facilities I want to make my trade. Link to comment Share on other sites More sharing options...
Matheus Schotsman Posted August 22, 2020 Share Posted August 22, 2020 Forex or 'FX', is the trading of one currency for another at a concurred trade cost on the over-the-counter (OTC) market. Forex is the world's most traded market, with a normal turnover in overabundance of US$5.3 trillion every day. You require a PC or laptop and web association with begin this business. Yet, learning is the most required thing. I am trading with Eurotrader broker which has amazing educational resources that help me in my trading. Link to comment Share on other sites More sharing options...
JohnFranklin Posted August 23, 2020 Share Posted August 23, 2020 On 8/21/2020 at 11:14 PM, Ross Edwards said: For some people trading is easy, for some people it is very tough. It is fully depend on the knowledge and techniques trader has. If he can do all the trade very sharply it will be very easy to make profit. But those who can't deal the trade simply with their mind they may face difficulties in forex market. Sometimes some trader feels the trade tough just because of their broker. Broker plays an important role in trading. In my trading career, my broker TP Global FX helps me to make the trade easy. They give all kind of facilities I want to make my trade. Yeah, I agree with you. Of course if you are a newbie in this field, you should spend time for education. There are a lot of information which you should learn. When you will be ready, I can recommend to choose good trading tools https://www.forextime.com/trading-tools/forex-vps-trading, it can really help in work! Link to comment Share on other sites More sharing options...
maspluto Posted August 25, 2020 Share Posted August 25, 2020 Existing training and learning must be able to be well cared for, this is needed and necessary so that traders can be maximized in carrying out trading activities in accordance with expectations with Tickmill. Link to comment Share on other sites More sharing options...
nobita77 Posted August 27, 2020 Share Posted August 27, 2020 I have read your article, it is very informative and helpful for me. I admire the valuable information you provide in your articles. Thank you for posting it. atari breakout Link to comment Share on other sites More sharing options...
BrutusDidNothingWrong Posted September 24, 2020 Share Posted September 24, 2020 When it comes to Forex I always recommend this resource because it has tons of materials and webinars for beginners. Even if you don't have any experience with trading then you will be able to master it with this site. Link to comment Share on other sites More sharing options...
Hanan Öberg Posted October 8, 2020 Share Posted October 8, 2020 Forex trading is a very difficult subject. Many traders trade Forex overnight to change fortunes but I think their idea is completely wrong. Trading is not a money-making machine that you became rich overnight. Trading requires a lot of patience. You have to learn trading by working hard. There is a lot to keep information about. If there is a deficit during the analysis, it is not possible to make a profit on that trade. Eurotrader brokers give me a lot of information on trading. Information that is very useful for my analysis. Link to comment Share on other sites More sharing options...
David Meyers Posted October 9, 2020 Share Posted October 9, 2020 Forex is one of the most popular investment markets in the world. It has also high risk and potential to make profit from it. Trader can easily make investment in forex market with a broker. As for me, I trade with Eurotrader. They are regulated and licensed broker in the market. They also give me best trading platform and trading condition in the market. Link to comment Share on other sites More sharing options...
pradegxs Posted October 11, 2020 Share Posted October 11, 2020 Agree that's why I prefer to trade and develop trading systems with reliable brokers which process all my withdrawals, such as Hotforex Link to comment Share on other sites More sharing options...
maspluto Posted October 14, 2020 Share Posted October 14, 2020 The selection of a broker must be considered properly, this is necessary so that traders can be maximized in carrying out trading activities that are in line with expectations while on the Tickmill real account. Link to comment Share on other sites More sharing options...
Mrsooduraske Posted October 14, 2020 Share Posted October 14, 2020 I think that in first time of trading you have the feeling that you know the market and you can make the money like you can do nothing, so it is big mistake - because if you want to trade good you have to have a lot og knowledges about forex which come only after time with your experience! Link to comment Share on other sites More sharing options...
uncle gober Posted October 16, 2020 Share Posted October 16, 2020 the existing experience must be able to be improved properly, this is needed and necessary so that traders can be maximized in carrying out trading with Tickmill. Link to comment Share on other sites More sharing options...
Jo Eshuijs Posted October 17, 2020 Share Posted October 17, 2020 Forex is the most famous and profitable business in the world. Anyone can start trading and earn a lot of money from the forex market. Forex us absolutely good than other businesses. If you have strong knowledge and a reliable broker then you can earn a lot of money from the forex market. I trade with Forex4you. I am earning a very good number of profits. My broker helps me a lot. They are very helpful and supportive. They never make disappointment to their client. Link to comment Share on other sites More sharing options...
maspluto Posted October 20, 2020 Share Posted October 20, 2020 choosing a broker must be able to pay attention properly, this is needed and necessary so that traders can be maximized in carrying out trading activities that are in line with expectations while on a real Tickmill account. Link to comment Share on other sites More sharing options...
Sam Patrick Posted October 28, 2020 Share Posted October 28, 2020 It is possible to earn a lot of money by investing less time in Forex trading. If a trader spends 5-6 hours in regular Forex trading, it is possible to do a very good analysis. I spend 3 hours every day on forex trading. I can do a lot of good analysis with the help of my broker Forex4you. If you do business, you have to spend a lot of time behind that business. But Forex is such a business where you can earn a lot of money by spending a little time. Link to comment Share on other sites More sharing options...
davidjohndj Posted November 16, 2020 Share Posted November 16, 2020 If you’re new in the world of trading, there is a lot you have to go learn and experience before trying your hand at live trading. I mean anyone can start trading with just basic knowledge, but if you want to make calculated and informed trading decisions then you should be ready to go beyond the surface. There are several educational sources available for forex trading such as https://www.facebook.com/TrustCapitalTCltd/posts/3025153084277918 Link to comment Share on other sites More sharing options...
pradegxs Posted November 16, 2020 Share Posted November 16, 2020 I traded with Hotofrex on their demo account for sometimes, but after learning how to draw S/R lines correctly I moved immediately to live account to test my ideas. With right risk management and patience it is still possible even for a newbie to make 5-10% monthly with quite low risk. Link to comment Share on other sites More sharing options...
gulshannegi Posted October 3, 2021 Share Posted October 3, 2021 Foreign exchange (Forex) trading, just like trading in shares, is an act of you buying foreign currency at bid price and selling it at higher price in future to make profit. Forex Market is the place where one can trade in currencies. Price of one currency is always determined in another currency because you always buy one currency using another currency i.e. you trade in 'currency pair'. The price is always given as USD/INR, GBP/USD, etc. using Standardised Currency Code. Foreign Exchange change all the time due to various factors, and forex traders attempt to make profit from these changes. Forex market is the largest, most liquid financial market in the world. It operates 24 hours a day and is commonly separated into four sessions: The Sydney session, the Tokyo session, the London session, and the New York session. How to trade?… You need an account with broker to trade in forex. It could be a personal account or managed account. With a personal account, you can execute your own trades. With a managed account, your broker will execute trades for you. The type of currency you are spending is the base currency.The currency that you are purchasing is called quote currency. In forex trading, you sell one currency to purchase another. There's a bid price (your broker willing to buy base currency in exchange for quote currency) and ask price (your broker will sell base currency in exchange for quote currency). Many brokers don't charge any commission on Forex trading. Their profit is just the spread. Spread is the difference between bid price and ask price. By using leverage you can open a deal worth up to 400 times your initial investment. For example, with a $100 investment, you can buy $40,000 worth of pounds, using 400:1 leverage. There are actually three ways you can trade forex: the spot market, the forwards market and the futures market. The forex trading in the spot market always has been the largest market because it trades real currency according to current market price. Unlike spot market, forwards and futures markets do not trade actual currencies. Instead they deal in contracts that represent claims to a certain currency type, a specific price per unit and a future date for settlement. Link to comment Share on other sites More sharing options...
uncle gober Posted October 4, 2021 Share Posted October 4, 2021 The selection of the existing broker must be able to be considered carefully, this is done so that traders can become better and can be maximized in getting the security and comfort of trading together with Tickmill. Link to comment Share on other sites More sharing options...
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