ECN. Used most by professional traders. Difficult platform for beginners
Minimum deposit $10000 (or $3,000 if under 25yo) * Well diversified -Oanda
Market maker. Second largest retail FX brokerage in the US. Easy platform for beginners.
No minimum deposit
Not well diversified, but well capitalized -Gain Capital (whitelabel forex.com) *Market Maker *Fair spreads *Minimum deposit $250 *Well diversified -FXCM Inc
ECN. Largest retail FX brokerage in the US
Minimum deposit $2000
Not well diversified. CAUTION: FXCM nearly went bankrupt in Jan-2015 due to a lack of diversification and low capitalisation. As a result FXCM LLC was bailed out with a large loan which may prove difficult to pay back. Be warned that their business may not be sustainable in the long term. -MBTrading
ECN. Mid-sized retail FX brokerage
Minimum deposit $400
International Only- -LMAX (whitelabel DarwinEx) *DMA broker based in the UK. Note that as a DMA broker LMAX eliminates the ability for LPs to last-look transactions. This may result in reduced liquidity during volatile times as liquidity providers would be likely not to risk posting liquidity to LMAX's pool. *Tight spreads *Minimum deposit $10,000 *Fairly well diversified -Dukascopy *ECN based in Switzerland, but available elsewhere depending on local regulations. *Tight spreads *Minimum deposit $100 *Fairly well diversified -IC Markets *ECN based in Australia *Fair spreads on standard account, tight spreads on professional accounts. *Minimum deposit $200 *Fairly well diversified -Pepperstone *ECN broker based in Australia. *Fair spreads on standard account, tight spreads on professional accounts. *Minimum deposit $200 *Not well diversified Software / Apps: Desktop/mobile
Apps are typically broker dependent. Some brokers have their own proprietary software, while others lease common software like Metatrader or NinjaTrader. Some software has a large development community for indicators and EAs.
Terminology/Acronyms: www.forexlive.com/ForexJargon - Common terms and acronyms FAQ: I need to exchange money, how do I do it? This isn’t what this sub is for. Your best bet is using your bank or an online exchange service. Be prepared to pay a hefty fee. I have money in one currency and need to exchange it into another sometime in the future, should I wait? Don’t ask us this. We speculate intraday in FX and shouldn’t be relied on to tell you what’s best for you. Exchange the money when you need it. I have an FX account, should I start trading demo or live? This is highly debatable. You should definitely demo trade until you have mastered how to use the trading platform on desktop and mobile. After that it’s up to you. Many think that the psychology of trading live vs demo trading is massively different. So it may pay to learn to trade live. Just be warned that most FX traders lose almost their entire first account so start with a low affordable balance. What’s money management? Money management is a form of risk management and is arguably the most important aspect of your trading when it comes to long term survival. You should always enter trades with a stop loss - the distance of the stop allows you to calculate how large of a percent of your account balance will be lost if your trade stops out. You can run a monte carlo simulation to figure out the risk of having a number of trades go against you in a row to drain your account. The general rule is that you should only risk losing 1-4% of your account per trade entered. More on this here: www.investopedia.com/articles/forex/06/fxmoneymgmt.asp www.swing-trade-stocks.com/money-management.html What about automated trading? Retail FX traders have been known to program “Expert Advisors” (EAs) to automate trading. It’s generally advisable to stay away from that until you’re very experienced. Never buy an EA from a developer because the vast majority of them are scams. What indicators are best? That’s up to you to test and find out. Many in this forum dislike oscillating indicators since they fail to capture the essence of what moves price. With experience you will discover what works best for you. In my experience indicators that are most popular with professional traders are those that provide trading “levels” such as pivot points, fibonacci, moving averages, trendlines, etc. What timeframe should I trade? Price action can vary in different timeframes. In longer term timeframes the price action and fundamentals are much more clear. Unfortunately it would take a very long time to figure out whether or not what you’re doing is successful on longer timeframes. In shorter timeframes you can often tell very quickly if what you’re doing is profitable. Unfortunately there’s a lot more “noise” on these levels which can prove deceptive for those trying to learn. Therefore the best bet is to use a multi-timeframe analysis, working from top-down to come up with trades. Should I trade using fundamental analysis (FA) of technical analysis (TA)? This is a long standing argument in these forums and elsewhere. I’ll settle it here - you should have an understanding of both. Yes there are traders who blindly ignore one of the other but a truly well rounded trader should understand and implement both into the analysis. The market is driven in the longer term through FA. But TA is necessary to give traders a place to enter and exit trades from a psychological risk/reward standpoint. I’ve heard trading Binary Options is an easy way to make money? The general advice is to stay away from binaries. The structure of binary options is so that when you lose the broker wins. This incentive has created a very scammy industry where there are few legitimate binary options brokers. In addition in order to be profitable in binaries you have to win 55-65% of the time. That’s a much higher premium over spot FX. Am I actually exchanging currencies? Yes and no. Your broker handles spot FX is currency pairs. Although they make an exchange at the settlement date they treat your position in your account as a virtual currency pair. Think of it like a contract where you can only buy or sell it as a pair. In this sense you are always long one currency while short another. You are merely speculating that one currency will appreciate or depreciate vs another. Why didn't my order fill? Even if price appears to cross over a line on your chart it does not guarantee a fill. Different charting platforms chart different prices - some chart the bid price, some the ask price and some the midpoint price. To fill a limit order price needs to cross your limit's price plus the spread at the time that it is crossing. If it does not equal or exceed the spread then it will not fill. Be wary that in general spreads are not fixed. So what may fill at one time may not at another.
Economic Calendar. BabyPips.com's Economic Calendar is your trading companion to avoid event risk. Event risk is anything that will move markets, but that you can't see coming. Use our economic calendar to inform yourself of important news events and economic data reports that may shake up the financial markets and impact your trading. Don’t ... The term Forex news reports is a more colloquial term compared to the term economic indicators. The latter refers to important statistics about a specific economic activity. In any case, a Forex economic calendar groups the most important news reports (or economic indicators) into an easy-to-follow table. Many of those calendars even sort the ... The Forex economic calendar is an event based calendar that traders use to keep current with upcoming financial information. An FX calendar contains information for future and past economic events of different countries and can clue the trader in on potential volatility expansions of certain currency pairs. Each currency is representative of the economic, political, and social stability of a ... View our fast-updating and interactive economic calendar for important events and releases that affect the forex, stocks and commodities markets. Peculiarities of the Forex economic indicators analysis. As a rule, the indicators of those currencies are followed which form a trader’s portfolio. Almost always it includes the USA dollar, Japanese yen and the pound sterling. All the most important indicators are presented in Forex economic calendar and this considerably simplifies trader ... How To Trade Forex Using Forex Economic Indicators, Calendar ... Forex Economic Calendar August 30th – 2012 Forex blog: Your ... Forex trading calendar currency events calendar - 60 Seconds ... Using_a_Global_Economic_Calend ... Forex trading economic calendar Best Binary Option Signals ... Economic-Calendar-Inflation- ... Learn_Fore_Trading_Economic_Ne ... International Trading School ... An advanced free forex economic calendar covering all of the news events and releases. Make informed decisions when trading. Anticipate market-moving events long before they happen with the internet's most forex-focused economic calendar. Advanced forex news calendar automatically updated in real-time as soon as current economic events get released. Customize it by selecting the time zone and filtering economic events by market impact, currencies, and their type. See economic news sources, descriptions, frequency, and historical list of events with the data. What to Watch: Top 8 Economic Indicators for Forex Trading An economic calendar is one of the most useful tools for forex traders worldwide. But when you first begin forex trading, an economic calendar might seem very confusing and difficult to understand.Here, we shed light on some of the most important economic indicators from the three major economies (US, UK, and the Eurozone) that have ...
Learn To Use The Economics Calendar To Trade Forex & Oil & Gold
Using The Economics Calendar To Make Profitable Forex Trades Sponsored by Alvexo - Duration: 41:52. Investor Trading Academy 10,910 views. 41:52. ... Go To Our Site: https://bit.ly/3g0fvUk - Indicators on Live Forex Analysis, Currency Rates, Economic Calendar You Need To Know Nevertheless, if the pattern o... How to Analyzeuse and read news Data forex factory news calendarforex factory gold strategy - Duration: 25:03. Forex indicators 24,808 views How to Trade Forex News and event Forex Economic Calendar Guide What is the purpose of Economic Calendar Economic releases come out from time to time. They are released by the government or ... Forex Factory economic calendar is the one tool that all successful professional traders use. Trading on the news strategy can be very simple and profitable ... forex trading, economic calendar, indicator, news trading, dailyfx, calendar, economic release 3 46. Category Education; Show more Show less. Loading... Autoplay When autoplay is enabled, a ... Learn how to use the Forex Factory economic calendar in this tutorial. _____...