When choosing a forex broker, it is important to decide on your preferred trading strategy. What do I mean by that? I am constantly asking questions related to forex, and the main forex question should be “Which trading software / bot / autoreider will make me the most money?”.
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Interestingly, this question usually comes from potential currency traders who have never traded before … novice traders!
It is suicide trading if you have the opinion that you can just connect an expert to MT4 (Metatrader 4) or even MT5 (Metatrader 5) and in one night you will become a millionaire on Forex. My advice on such issues – try manual trading in the Forex market first.
It’s simple and you don’t have to be a stockbroker, a financial kid and financially savvy. Go and select a forex broker and trade manually for a while, just follow the charts, and if the currency pair charts turn out to be the lowest, open a “buy” trade, if the chart rises, your “buy” trade will make a profit. Once the chart is at the top, open a new forex as a “sale” and yes, you guessed it, when the chart falls, you will make a profit from forex.
Don’t forget to close the deal if you have enough profit, and my main advice – don’t be greedy! It is better to trade multiple forex lots and make a small profit than to stick to a big profitable trade that can turn the other way and destroy you.
Also, if you have a position or trade that has negative numbers, open the trade in the opposite direction, such as buying or selling, and this can counteract your loss.
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Once you have learned how to trade forex, you can look for an automatic trading robot. There are many loads to choose from with fapturbo, ibybot and many more, and they all do a variety of tasks including hedging and scalping.
Then you need to find the best forex broker for scalping or forex broker that will allow your advisor / expert to work with minimal hassle. You will see that some brokers conduct re-quotes, a method used by brokers to try to fight forex scalping software. What this means is when you scalp, you try to open and close positions very quickly, which makes the broker, it stops this transaction by re-quoting, saving or making a few points / points / spread on the order, which in turn can completely throw your software for scalping.
Sometimes this re-quote is a real delay between the provider and the trading level, so always check your internet connection and firewall settings if you have regular problems with currency recall.
I have been trading forex both manually and with automated forex trading software for over 3 years, and of the 15 brokers I have been with, here is a parsing of the best brokers that allow you to scalp and not process (often).
United World Capital http://www.uwc-fx.com is a regulated forex broker that protects the money you invest in them. I have found that the system sometimes recycles quotes, but the available forex bonuses outperform repeat quotes.
Forex Hunt http://www.forex-hunt.com is an unregulated broker and definitely the best forex broker I have used. Their system is fast, and in over 4,000 trades I’ve never received a single recurrence!
In the next article I will talk about the differences between regulated and non-regulated forex brokers, this article goes to my article “The hunt for forex for brokers begins!”