bigxy

Share and give some advice for newbies who just start doing forex trading.

I guess the only thing that a new trader should do in start is to practice demo accounts as much as possible.

Well if you do Forex Trading on behalf of any other, then it may be called a job, but if you do it for yourself, then no it isn't job, it will become a business.

I think none of these can make money for others and if anyone do then it might be for limited time only. I better say that forex trading is a full time business where our job is to learn how we can make money through forex trading.

I guess it can be a good idea to take real insights of any broker by going to the review sites like forex peace army etc and once you choose the broker i think its more better to test them by starting with small amounts to get real personal experience with the said broker.

That's why we need to keep analyzing the market in every trading day we are about to do. The market movement is very dynamic...

I guess if we start daily habit of reading news, sooner we will be able to conclude the market behaviors and the outcomes of these news on the trading market.

Indeed, I think it's Asian currencies are weaker than majors (from Eu and NA).

That's may be the reason why many traders prefer trading major currency pairs for they bring significant profits rather than the weak currency pairs.

In my opinion forex trading can only be a legit business available online these days however it can not be classified as a gambling because it is not based on luck but involves learning the markets, making analysis and cost calculations, then risking the capital based on such knowledge and experiences.

I better guess that any successful traders possesses the right approach to foresee the associated risks with his investment, so we all need to improve our money management skills in order to overcome these risks.

For those who greed may try to overtrade and obviously loose their money and looses more while chasing their lost money. It is good to put all of your emotions out while trading forex.

I guess it is getting really hard to distinguish between good and bad binary options brokers as we may notice a lot of complaints about them so its good to carefully choose binary options broker. My personal recommendation is optiontrade as i am trading with them for quite sometime and i doesn't have any complaints from them so far, so they can be considered as an option while short listing a binary options broker.

I guess we cannot eliminate the risks as they are involved in every trading business however we can mange them to much extent by doing effective money management and investing after carefully examining those risks. Forex is a business purely based on calculations and analysis so if you fail to calculate the right then the chances are that you might fail.

I usually trade major / popular currency pairs as they inherits less risks and are traded more easily, besides these i also keep an eye over gold and oil however these two items are bearish most of the time and we can make money by selling them short.

Agreed ! the withdrawals from this broker are usually processed without any hassles and the other services are also good so far.

Demo trading is one of the biggest asset in forex trading and those who keep practicing demo accounts become successful one day. I still practice demo account in my free time to test strategies before applying them to live trading.

Yes a good list indeed!!

Anybody knows if new Hotforex regulator has compensation funds and traders from which countries can claim for this kind of protection? Thanks.

I haven't heard of any regulators' compensation fund but i found out this hotforex investor fund link which maybe helpful.

https://www.hotforex.com/hf/shared/landing-pages/security-of-funds.html

https://static.hotforex.com/assets/common/documents/cysec/Investor_Compensation_Fund.pdf

Forex is risky yet a very legit and lucrative business available online, so anyone willing to make a fortune with forex trading should know that this business is not that easy at it looks like. I means forex trading is easy though earning with trading in forex may requires some hard work and patience.

Sounds strange because Neteller just bought Skrill and it should help Neller enter currenly restricted countries.

I guess may be it would take some time if they have bought skrill or may be skrill should restrict those users too which neteller is not accepting.

I thought yes, any big payment processor has debit card, it's a popular thing. I think maybe next year LMFX would launch up their debit card as many brokers do.

It would be good if lmfx launches their own debit cards as traders can easily get their money from ATM hassle free.

They mentioned that all the three prizes will be credited to live accounts, so profits can be withdrawn form the contest prize money.. I guess its better to ask the support team for further clarification.

I also have heard some good reviews about neteller but it is not available for my region so i prefer skrill for smooth transactions. I noticed this broker have many other payment methods too.

I don't think that it is a gambling but a totally professional business based on analysis and reports, those who speculate with a gambling view may looses money and looses more money while chasing their lost money.

Many traders looses in start however it is a good idea to start with small amounts, learning from the past mistakes and not doing them in future can help any trader to succeed.

I prefer sticking to the most popular currency pairs like EUR, USD, GBP etc... Most of the time i trade EURUSD as they are associated with low spreads and also helps in earning good profits.

I guess the bonuses should not be the only aspect while considering any broker, these bonuses have certain lots of terms and conditions associated with them and it might become hard to reach the required criteria for availing them. I guess sticking to no bonus option is quite easier and best rather than availing it.

That sounds interesting, do let us know when you finished your withdrawals with this broker.