No doubt broker is such an essential part. Forex is a little bit challenging to the beginners because they are not well known of the environment of Forex trading. As a result, some new traders trade haphazardly and some others fear of trading. Both the issues are harmful for traders because newbie traders should keep practicing in demo account more and more.
There is no other option than to choose a decent trading broker
There is no other option than to choose a decent trading broker since a scam broker may make a trader's life a living nightmare. A trader's funds are never safe with a sham broker. As a result, traders should go through this period with extreme caution.
This point can never be overstated. I was once scammed some years back which led to loosing huge funds, to the extent that I practically gave up on forex and crypto. The mistake I made was not checking to see if the broker was regulated or having a visible office. It was at the help of a friend I was able to get back up and he introduced me to forexchief, but I was still scared and asked him to convince me if they are regulated and have an office. He did of course and I checked myself which came out true as they are regulated by FMA and have three well known offices.Originally Posted by smithbrean
The new traders have to do some thorough research while choosing any good broker because it is really hard finding true broker these days because we have a lot many brokers operating right now. A few shortlisted reputed brokers can be hotforex, xm, exness, octa, lmfx etc yet it is advised doing some of your own research.
ForexChief is definitely a good recommendation, I have been with them for a while now and one thing among every other thing they do so well is how transparent and flexible their Turnover Rebates works. It works automatically and you don't need to do anything to get them, and especially the fact that it has no secret terms and conditions or any restrictions for withdrawal.
I value this because it's a good way to make a little extra money in this turbulent market.
One example of such broker is Hotforex, I've been quite successful in trading with them thanks to some specific advantages in their trading conditions.
Agree that's why I chose Hotforex micro account to limit my risk at the initial stage of trading. It's important while you learn to reduce the cost of making mistakes that's why I chose slow progress.
When traders can’t cope up with the market trend, they sink into depression. So, enjoy your profits and never care about losses because it will make you fell into depression. Decision making plays a vital role in eradicating depression and for decision making, market analysis is badly essential.
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