When choosing a forex broker, it is important to decide on the trading strategy you prefer. What do I mean by that? I always ask questions about forex, and the top forex question is “Which trading program / bot / auto trader will make me the most money?” It should be.
Surprisingly, this question generally comes from forex traders who have never traded before … inexperienced traders!
This is suicidal if you think you can just add an expert advisor / ea to MT4 (Metatrader 4) or even MT5 (Metatrader 5) and become a forex millionaire overnight. My recommendation for these types of questions is to try forex trading first.
It’s easy and you don’t have to be a stockbroker, financially whimsical child or financially savvy. Go and choose a forex broker and trade manually for a while, just look at the charts and when the currency pair charts are at the lowest point, open a “buy” trade, when the chart goes up, your “buy” trade will make a profit. Once you get to the top of the chart, open a new forex trade as a “sell” and yes, you guessed it, you will make a profit from your forex trading when the chart falls.
Don’t forget to close your trade when you have enough profit and the best part is don’t be greedy! It is better to trade with a lot of forex lots and make a small profit, but for a big profit trade that can turn you around and wipe you out.
Also, if you have a position or trade in negative numbers, open a trade in the opposite direction, for example, buy or sell, which may adversely affect your loss.
After learning Forex trading, you can look for an automated trading robot. There are loads to choose from, Fapturbo, ibybot and more, and they all perform very different tasks, including hedging and scalping.
Then you need to find the best forex broker for your scalp or a forex broker that will allow your ea / expert advisor to work with minimal hassle. You will see that some brokers are making offers again, this is a method used by brokers to combat the forex scalping program. This means that when you scan your skin, you try to open and close the positions very quickly, to stop this operation by quoting the broker again, thus saving or making a few pip / points / spreads in the order. queues can completely throw your scalping program.
Sometimes this repeat quote is a real delay between your ISP and your trading unit, so if you have problems requiring forex on a regular basis, always check your internet connection and firewall settings.
I have been trading forex for more than 3 years, both manually and with a forex auto trading program, and of the 15 brokers I’ve been with, the one that allows better brokers to snap and never quote again (often).
United World Capital http://www.uwc-fx.com is a regulated forex broker that protects the money you invest with them. I’ve found that the system sometimes quotes again, but the existing forex bonuses again make the offers more difficult.
Forex Hunt http://www.forex-hunt.com is an unregulated intermediary and the best forex broker I use. Their system is fast and I have never had a single offer in more than 4,000 trades!
I will cover the differences between regulated and unregulated forex brokers in the next article, this article “Forex Hunt Starts for Forex Brokers!”