Forex Trading Secrets
Uploaded by tradeartist
Forex trading has become extremely popular in the last few years and seems to be getting more mainstream every day. When a person first discovers Forex trading any search online will produce endless oceans of products and services that the industry is eager to sell. The first thing to pop up in your search will be Forex brokers. In addition to that there are many training program, e-books with the latest "holy grail" trading method, alert services, charts, automated systems, managed accounts, mentor services, software, etc. I can certainly empathize with the newcomers to this industry who have no idea what really works and who to trust. Many of the most important questions that newcomers have are answered in the video workshop, Getting Started Right in Forex Trading.
When it comes to brokers there is journey of research required to get to the bottom of the endless controvorsey and debate about which brokers are the ones to trade with. Dealing desk vs. non dealing desk brokers is one of the widely discussed topics that might affect your decision. Many experienced traders are now discovering that the whole issue of dealing desk vs. non dealing desk brokers is entirely misunderstood. The brokers who claim to have no dealing desk simply pass the clearing process on to another entity that does have a dealing desk. And the whole issue of brokers with dealing desks being sinister is unfounded paranoia. These issues are often discussed in our live web conference trading sessions and the answers that are provided by some of our more experienced members is often shocking and enlightening.
The fact is, we cannot trade Forex without a broker and therefore in spite of whether we feel that brokers always have our best interest in mind, they are our business partners. The other important fact to keep in mind is that it is the customers who really drive the industry rather than the brokers. As issues arise the word quickly circulates in the trading communities and traders migrate in droves from one broker to another. The brokers who do not have their customers best interest as their primary intention may seem to be making money in the short term but in this information age it is simply not possible for a disreputable broker to survive long term.
We are currently working on a comprehensive report with details and survey results that will reveal the pros and cons of each Forex broker. It often seems difficult to find a broker that has all the features and benefits that we are looking for. A broker that meets one criteria may fall short in another area. And what is important to one trader may make no difference to another. It is important to know what criteria is really important for your long term success and carefully consider which Forex broker will provide the right trading environment to help develop the success you are looking for.
Some of the brokers we will be investigating are FXCM, GFT Forex, Interbank FX, Oanda, EFX Group, MB Trading, ODL Securities, IFX Markets, FX Solutions, North Finance, Leverage FX, One World Forex, Man Financial, Coes FX, Interactive Brokers, Lava FX, Hotspot FX, FXDD, Saxobank, Finex, Deutsche Bank, Synthesis Bank, and many others.
It seems that new Forex brokers are popping up all the time and many traders now consider the strength of a broker to be critical especially since many traders lost their accounts when Refco filed bankruptcy not long ago. More recently some traders have had their accounts frozen during an audit of a Swiss broker, Nuimex. The choice of which broker to trade with is no small matter. Look for more information here in the near future.
Scott Shubert
