boltushkin

For me it's Hotforex, low spread and reliable regulation, I prefer to make safety of funds as a priority when choosing a company to deal with

Having low spread is must for those employing a scalping approach. For example if my spread at Hotforex becomes larger by 2-3 pips one of my scalping strategy will lose its edge. This is just to put it into perspective, lol.

The demo account is vital to every trader, especially for beginners entering into forex. It helps to get the experience of trading and taking in different positions which is not the same with live trading.

I would advise trading using a demo account with the amount of capital you intend to start live trading using actual money.

Proper money and risk management is essential in forex trading. We all know that forex is a risky market. So, trader should approach the market with proper caution. Otherwise failure is sure to come. I trade with Hotforex and never take more than 2% risk per trade according to my capital. That way I am surviving this since 2017.

Money management is pretty easy, basically you can utilize a kind of hard rule which defines how much you risk in every trade. I use 1% rule with Hotforex, i.e the amount I risk per trade never exceeds 1% of my current equity. 

Ability to choose time for trading which is most convenient for you is one of the attractions of forex trading. It is a business that can be run as part time without the need of visiting office, and the system service support provided by my current broker Hotforex makes forex trading more comfortable and profitable.

If you trade with shady bucketshops operating in unregulated environment, ignoring KYC procedures, etc. then risks significantly increase that you eventually will be left with nothing or blocked with a lame reason. 

Unregulated brokers often involve in scam activities in the market. Traders need to stay away from those brokers to avoid scams. Those brokers may deceive you. Trading with regulated brokers like Hotforex is the safest way to trade. Regulated brokers provide maximum security in the forex market. Traders should also check their services and trading condition before investing money.

Yeah, it's really great when your broker cares about such aspects as webinars, tools for analysis etc., for example autochartist tool that is provided for free by Hotforex makes it really simple and entertaining to explore trading pattern on prices and trade them. 

From my personal experience with several brokers over the last few years, I prefer Hotforex to trade because of the reliability factor, considering they have been in the business for over 15 years.

Another main reasons I trade with them is because the spreads are consistent, even during high market movements, and they start as low as 0.0 pips in EURUSD, GBPUSD, and other major pairs.

When choosing a trading account type, consider the following factors:

1. Trading Style: Identify your trading style and determine if you are a scalper, day trader, swing trader, or long-term investor. Different account types may offer specific features or trading conditions suitable for your preferred trading style.

2. Risk Tolerance: Assess your risk tolerance and trading objectives. If you prefer lower risk and stability, a standard or fixed spread account may be suitable. If you are comfortable with higher risk and potential rewards, an ECN or raw spread account could be considered.

3. Trading Costs: Evaluate the trading costs associated with each account type, including spreads, commissions, and any additional fees. Consider how these costs align with your trading strategy and profitability goals.

Demo trading allows you to practice trading strategies and gain experience without risking real money. It helps you develop your skills, test trading approaches, and build confidence. However, it lacks the emotional impact and execution differences of live trading.

When choosing a broker, several factors should be considered:

1. Regulation: Ensure the broker is regulated by a reputable financial authority, as this provides a level of oversight and protection for your funds. For example my current broker, HFM, operates under licence of UK FCA.

2. Trading Costs: Consider spreads, commissions, and any additional fees charged by the broker. Lower trading costs can have a significant impact on your overall profitability.

3. Trading Platforms: Evaluate the trading platforms offered by the broker. They should be user-friendly, stable, and equipped with necessary tools and features for your trading style.

4. Asset Selection: Check the range of financial instruments available for trading. Ensure the broker offers a diverse selection that aligns with your trading preferences.

Traders can receive several benefits from a demo account, such as gaining experience in the market, practicing trading strategies without risking real money, testing the functionality and features of the trading platform, and getting familiar with the broker's trading conditions. Additionally, demo accounts can help traders develop discipline and patience in their trading approach, which can be beneficial for their long-term success as a trader.

On 3/28/2023 at 6:51 AM, instantorder said:

This broker is no more Hotforex, it's HFM now. Can the forum admin update its name?

Yeah they underwent rebranding I think it's good more opportunities and large business is a good sign of reliability. 

Novice traders are recommended to use lower leverage, preferably no more than 1:50 or 1:100, to limit their risk exposure. This allows them to have greater control over their trades and manage their losses more effectively. As they gain experience and confidence, they may gradually increase their leverage, but it is important to always use it with caution and proper risk management.

Traders prefer regulated brokers like Hotforex for several reasons. Regulation provides a level of protection to traders' funds by ensuring that brokers are required to follow certain rules and guidelines. Regulated brokers are also required to segregate client funds from their own funds, which helps protect traders in the event of broker bankruptcy.

For a beginner to win in forex trading, it's important to start with a strong foundation of knowledge and skills. This means learning about the basics of forex trading, including how to read charts, analyze market trends, and manage risk. It's also important to develop a trading plan and stick to it, rather than making impulsive or emotional trades. Additionally, beginners should start with a demo trading account to practice their skills before trading with real money. Finally, it's important to be patient and realistic, as forex trading requires time, discipline, and a willingness to learn from mistakes.

When searching for a broker that offers good trading conditions, it's important to consider several factors. Look for a broker that offers a wide range of trading instruments, competitive spreads and commissions, low minimum deposit requirements, a user-friendly trading platform, reliable customer support, and strong regulatory oversight. Additionally, check for any hidden fees or charges, and read reviews from other traders to get a sense of the broker's reputation and track record. This is how I chose my current broker Hotforex.

When choosing a broker with a low spread, it's important to research and compare the spreads offered by different brokers. Look for a broker that offers consistently low spreads on the instruments you're interested in trading. Additionally, consider other factors such as the broker's reputation, trading platform, customer service, and regulatory compliance before making a final decision.

I use several brokers but my favourite one is Hotforex, this broker is ideally suitable for scalping because spreads on pairs I trade most of the time keep near zero

On 2/24/2023 at 12:19 PM, Nazzerith said:

I personally choose FP Markets over any broker because their demo account is not only free but also provides educational materials such as e-books, video tutorials, webinars, and more. Even the customer service is polite and helpful in setting up the account.

Yeah, it's really great when your broker cares about such aspects as webinars, tools for analysis etc., for example autochartist tool that is provided for free by Hotforex makes it really simple and entertaining to explore trading pattern on prices and trade them. 

I learned that hotforex charges triple swap as certain days can somebody enlighten me what is that?

I do not know how to set up a forex robot with a forex trading account, maybe if want to trade i may trade without a robot. beside, i believe working software costs money. if you get helps from experts, then i think it is not a bad idea to use a forex robot or code it yourself. 

Most of CFD brokers offer free demo account you can try Hotforex or Tickmill demo accounts one of the benefit of using them is that their demo spreads and other conditions totally mirror their live accounts which is important for replicating demo results on live accounts.