Axi is a reputable broker offering a solid amount of FX instruments, albeit a relatively small number of CFDs via it's FCA and ASIC-regulated entities. Venom Indicators - Metatrader 4 Indicators Financial News, forex simples #forexscalping Forex Trading Basics, Learn Forex Trading, Forex Trading System. Later the foreign exchange market, the mechanism by which currencies are valued relative to one another, and exchanged, was developed. An. BEST FOREX EA BUILDER Third-party cookies in the with Original one new. Install AnyDesk designed for live chat-enabled ] after 4K broadcast. Here is in with your previous session password, Spot experience.
There are currently a few different types of broker companies to trade with. Dealing desk and Non-dealing desk brokers conduct business oppositely, but no type of broker is better than the other because it all depends on your trading strategy and the type of trader you are. Generally, scalpers and day traders prefer tighter spreads because the market needs less ground to cover the transaction costs. Position traders and longer term swing traders prefer to have wider spreads and pay no commissions since spreads tend to be insignificant over a longer period of time.
Customer service and support is incredibly important for any type of business, and Forex brokers are not exempted. Brokers are not perfect, and you should choose a broker that could easily be contacted when problems occur and who responds quickly to your needs. As you probably know, the Forex market is open hours a day, so ideally, your broker should offer client support at any time. Live chat and phone support is the best medium to contact the help desk rather than email. While trading, you may experience technical problems regarding your platform, trade orders, and other broker-related concerns.
You may have just opened a big position and then your internet went down. You may need to resolve this quickly by calling to your broker for help. The way they respond to your concerns can be a key in gauging the credibility of your broker. If this it the case for you then you may want to research another broker. The Forex market has many unique features that many brokers use to entice traders to open a live account with them.
Some promise no regulatory fees and exchange fees, others present no data fees, and most common to all, no commissions. However, no matter what type of Forex trader you are, you are always subjected to transaction cost. Every time you enter a trade, you are always required to pay for either the price spread or a commission.
Some brokers just charge the spread, others charge commissions per transaction made, while other brokers charge you both. The lower the spread, the greater the hypothetical profit a trader can make. Different brokers charge different number of spread pips. However, paying a 10 pip spread on major currency pairs is a sign that there is something odd with the broker.
Most brokers present the lowest spread they can offer because traders have a higher chance of profiting with lower spreads. You may choose the broker with the most affordable and cheapest spread. However, you have to balance broker reliability and low transaction costs.
Choosing the broker with the lowest spread is important, but it should not override the most important factors in choosing a broker. A competitive spread is useless if the other factors are poor. Depending on the broker and account type they offer, there are three commission structures used by brokers:. With the variable spread , the spread may be as low as 0 pips or as high as 3 pips on most major currency pairs.
Spread also varies depending on the financial instrument that you trade and volatility of the market. Most brokers charge a 2-pip spread in a less volatile market. However, if the volatility increases, the spread may also increase, which means higher transaction cost for variable spread accounts. Also, spreads between different currency pairs may change as the liquidity level of that certain currency pair changes.
Every time you enter a trade, you will always start with a negative profit even if the price moved in the positive direction. The price has to change enough in order to cover the trading cost, the spread. Some forex brokers will publish their spreads live on their website. Here is an example from one broker called FinFX. Most brokers who offer the least spread charge the transaction cost on every executed trade through commissions.
Commissions are either fixed or variable. As the name implies, a fixed commission charges the same transaction cost regardless of the trade volume and size. A variable commission is most common for brokers. Transaction cost is calculated based on the trade volume and size that you executed. Generally, the cost is calculated from a fixed dollar value per million. Trades held overnight are subjected to overnight rollover or interest fees. Every currency pair that you trade has its own overnight interest rate.
Overnight interest rates are determined at the Interbank level, not by the broker, and it varies between 1. This trading cost is calculated based on the leverage, which means the higher the leverage a trader uses, the higher the overnight financing cost. Rollover fees on currency pairs depend on the difference between the interest rates of the two countries whose currencies are paired. If he was shorting the pair, then he would be charged with 1. Some brokers apply inactivity fees if you do not make any transactions within a set period of time.
There are some brokers that require a minimum amount of trading activity that must be met each month, quarter, of a year. A very volatile market condition and lack of liquidity can force a broker to apply a slippage on the currency price.
This occurs when a position is executed away from the average spread. This usually happens during major new releases because of increased market volatility. Some brokers protect their clients from slippage by effectively handling news releases, others do not. Fixed spreads may protect you from this unwanted cost. Although fixed spreads are slightly higher than the average spread, your trades will be filled at the desired price even if the market volatility increases.
There are certain brokers that cheat their clients by manipulating the bid and ask spread. Typical spreads of major currency pairs among regulated brokers on normal market conditions ranges from 1 — 3 pips, but may reach as high as 6 pips during highly volatile market. Scammers would have spreads around 4 to 8 pips on major currency pairs on normal market conditions, and may reach as high as 10 pips or more during high volatility.
Another way that fraudulent brokers cheat their clients is through stop hunting. Brokers know where their clients place their stops. Suppose you opened a long position at 1. Unfortunately, the trade initially went against you and almost hit your stop loss price. However, your position was closed, but the market did not even touch your exact stop loss price 1.
Then the market begins to take off to your desired direction. There are still brokers that claim to be regulated but practice spread manipulation and stop hunting, especially during times of high volatility. The speed at which your orders get filled is very important and it is mandatory that brokers should fill orders with the best possible price.
Your orders should be executed at that price, or within micro-pips of the price. Reputable Forex brokers offer a hassle-free method to deposit funds and withdraw earnings. Whatever methods they use, brokers have no reason to deny withdrawal of your funds and profits because they only hold your funds to facilitate trading. Note: the amount of paperwork required by brokers has increased much in recent years to protect against money laundering and other illegal practices.
Some brokers will require more paperwork than others, depending especially on the country they are in. Almost all brokers offer two or more account types, which depends on the size of lots traded. The most common type of accounts are micro-accounts, mini-accounts, and standard accounts.
The micro and mini-account allows you to trade with a very low minimum initial capital, while the standard account requires a higher minimum capital. Minimum capital for each account type varies from one broker to another. New forex traders tend to choose brokers with higher leverages. Although higher leverage can lead to bigger profits, it also magnifies your losses in exactly the same way as your gains. A relatively small movement against your position can result to an immediate and large loss which can be greater than your initial investment capital.
Traders who get attracted by high leverage end up benefiting the broker and harming themselves. If the market moves against your position, margin levels are increased and you may be called upon to deposit additional funds into your account to maintain your position. The final aspect in choosing a forex broker is reputation.
Only a few brokers have well deserved reputations and are loved by their clients, while some brokers are despised by many. Disreputable brokers often use high spreads and slippage to prevent huge losses.
Others cancel the trade if it turns against the broker. The moment your profit history becomes consistent, dishonest brokers do whatever they can do to stop you from gaining more profits through them. The only way to protect your investments and money is to keep and an open mind and make smart decisions. You may join up with a bad broker from time to time, but just try and get your money back if they are doing underhanded things and research better the next time by visiting sites like the broke review page of FPA: Forexpeacearmy.
But do not just stop with this one site. Research and read all that you can about all the brokers you researching. Try to find out the truth about them and when you do select a broker make sure you start with a small deposit at first. You may even try to withdraw profits on the account first before deciding to keep more money with them.
A broker will always be tested at the point of withdrawing profits. Contrary to the beliefs of most losing traders, Forex brokers are not designed to make retail traders lose money. Forex brokers want to do business with you, and not to lose your trading business.
If you lose all your money in trading, they too will lose clients. But then again, this is not true of all brokers. Although most brokers that are regulated by financial authorities conduct business ethically, some brokers usually unregulated only wants your money rather than seeing you succeed in the trading business.
As a general rule, a broker will only help you when your interests are aligned with theirs. A broker who contacts you many times in order to convince you to deposit money or open an account with them, is a sign that the broker only wants your money, not to help you succeed in your trading career. The best criteria are the size of the company financial stability , speed of their platform and as well as their credibility and honesty.
Also, security of your funds and as well as the assurance that you are in good hands are the most important considerations. One of the best places to start when looking for a good broker is a review site like ForexPeaceArmy. They have some great reviews here on this site from traders just like you. You can find some of the answers online with their websites but otherwise you can get on with their live support or call them on the phone to ask these questions.
Make sure that you get solid answers, not just wishy-washy ones. And this one really looks very useful. Broker Comparison Guide should really help you with your decision when choosing a broker. Trading directly with the exchange market and avoiding the intervention of the Forex broker on the trading process is nearly impossible for retail traders. Brokers act as mediator between the interbank market and retail market, in return for a commission.
These two major categories of brokers conduct business oppositely, but no type of broker is better than the other because it all depend on your trading strategy and type of trader you are. Trading with the right broker is very critical to trading success. Many brokers help their clients succeed, while some brokers are setup to make traders fail. The choice of broker you make will influence your ability to make profits month by month.
Make sure that you trade with the broker that you prefer the most. Giving your time and effort into investigating the factors outlined above can save you from much heartache and grief. No broker is perfect for every trader, but by considering the key factors on choosing the right broker, the chances of your trading success can increase substantially. Do you have a good broker?
Share it here if you think that others would benefit from it. I am also a Forex trader, a programmer, an entrepreneur, and the founder of ea-coder. I have created two of the most popular trade copiers and other trading tools for MT4 that are already used world wide by hundreds of currency traders.
As usual, very comprehensive and educational article that every new trader should read. Having been trading for quite a few years now, I have seen some very suspicious activities with various brokers, including some of the better known ones. I do feel sorry for my US trading buddies though as their govt treats them all like little kids, with all their restrictions in place. Just too risky for my liking. Stick with the more popular better known brokers that have been around for a few years also.
Not sure about your overnight rollover interest calculation, as I always seem to get charged more than I earn when trading the same pair in opposite directions with the same position size. I think it is a money spinner for brokers. Thanks for the article Rimantas. Jim, I am glad you like it.
Definitely U. Very comprehensive article. There is not enough transparence in their calculation. Moreover, you end up paying higher interest to hold a spot pair overnight than an equivalent futures contract. Overall, I prefer futures to spot rates. Robert, glad you like this information. Interest rates can be mysterious for sure. I agree with you. If you are getting close to a margin call they will delay processing your deposit to cover the call.
This is a nasty trick, I experienced it before my own eyes. They waited for my margin call and stop out, then appx seconds later my funds went in. Needless to say I no longer trade this way. I also used to be quite common for brokers to change your leverage during high volutiliy to cause margin calls. Do you ever whatch the market moved against you immediately after placing your trade? Meanwhile all other pricing does not make the same move.
Conway, those are golden stories. I really love reading them and it is so good to learn about them. The one with oil positions is the funniest. That is a great snippet of news about broker tricks.. Can you let us know which Broker tricked you which allowed you to get ASIC to help as I have also been relieved of all my funds by a broker in AU and would be interested in knowing who did this to you?
Hi Garry, Although it would be easy for me to name the 2 brokers who tried to scam me, it would serve no purpose in helping you in your situation, indeed you could even be involved in broking yourself and looking to getting your own back on me for naming fraudulent services.
If you have actually encountered a problem with a broker which you think is carrying out fraudulent practices, you need evidence by way of screen shots and statements and any other hard copy details which clearly show corrupt activity. Your evidence must in most cases condradict the brokers P. Hearsay verbal comment is not evidence. They usually take 30 days to assign you a case officer, it is not a fast process, but if you have been done wrong like I had, you stad firm and follow through providing logical honest replies to all their answers with evidence.
When you do make a complaint it gets recorded against the broker, so they want to settle as well. Usually as soon as a case officer gets involved, the broker will want to discuss the matter with you and settle without 3rd party involvement. I was fortunate in one case to have the details directly on the screen in front of me. I took screen shots showing trading disabled on one chart but activ on others, showing all my open positions on the chart and showing live activity taking place, then backed up with time captured statements.
I even took a copy of their P. Here is a snippet from one PDS, which are even more full of catches to clear the broker of any wrong doing while ripping you off. TF Global may at an time without Notice to the Client suspend, withdraw or deny access to the Online Platform for any reason including but not limited to security, quality of service, failure by Client to pay and amount when due or breach by the Client of any provision of this Agreement.
Very good article. Well done. I had deposited funds in a new account and had started to talk with the account manager Alan Levine. By the time that I logged on in China I had most of my account wiped out.
Wiped out. I will never forget that. I reported it to the police, but nothing has happened so far. Leaves a bad taste in your mouth. John, that is quite a story. I never though that this could happen when an account manager working for the broker is trading your account.
Thanks for sharing and hope your future investments will be ma success. Hi Rimantas I have a story. Recently was trading with MT4 app on my iPhone. My strategy was to stick to one currency pair the eurusd. About 2 months into trading I opened some positions in other currency pairs, following this, the MT4 app displayed the negative value of trades as a positive in the free margin. In all the confusion I would have lost about 10 grand.
The broker is Tallinex but because the malfunction was only on my app it would seem meta quotes are responsible. Thanks for sharing. It sure sounds like a MT4 malfunction. Sorry to hear you had such a big financial loss. I have personally witnessed brokers trading against clients by using order delays. I have also seen brokers delay withdrawal requests past 1 business day. This business is quite something. I am using an indicator that shows me what the spreads are and tonight, I will not consider trading period, because all the spreads are a complete rip off, and they keep changing by the minute.
And I could go on and on. It was hard to find any pair that had a spread of 0. Notify me of followup comments via e-mail. You can also subscribe without commenting. Money Fast. Online Business. Future House. Forex Strategies. Fundamental Analysis. Trend Analysis. Stock Trading Strategies. Trade Finance. Candlestick Chart. Stock Charts. Technical Analysis. Relative Strength Index. How To Become. Forex Trading Software.
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Risk : Risk setting allows you to define how much risk you want to allocate onto this trade. Adjusting one value would automatically update all the other values. This is done by how the trade manager EA automatically detects your stop loss and as you continuously adjust the stop loss, the trade manager EA will continuously adjust and update your lot size. Trade : This is basically what your current trade details are. The only thing you should need to pay attention to is the last part that says TP1 which has a field that is You can adjust this accordingly to however much you would prefer.
Advanced : These are advanced settings that allows you to customise your trade even further. But to use this, please ensure your EA is always running and do not close your MT4. Example if you have a buy entry and your stop loss is at 1. If you add a decoy of 5 pips, then your stop loss is artificially set at 1. Again, please ensure your MT4 remains open if you wish to use this feature. Max spread allows you to determine what is the maximum spread you would allow for all your pending trades to be activated.
If the spread is too wide, it will wait until spread goes down before activating the trade. News active means how many minutes before news events you would want to close all your opened active otders. Trailing allows you to set the different trailing stop losses. Before you begin, it is always important to 1.
This step is to help you determine how much you would like to risk on a certain trade. You can choose to risk only pick one :. The easiest way to do this: set your entry, stop loss, take profit, breakeven, etc. The next thing you have to do is to enable your MT4 to allow expert advisors. Ensure that it is green and not red by clicking on it.
The concept of idea invalidation was actually created by me through my years of trading experience. When you get into a trade, you think that it will work a certain way. I hope everyone likes using this MT4 trade manager. I am allowing it to be used for free for these 3 most popular pairs, if you want to support me, you can PM me.
Right now, my main goal is to get as much feedback from you guys on how we can further improve it as a team. Some of you guys have been asking for the new version after it got expired. Hey sorry bud, at the moment no MT5 version yet. Yo dude! Glad you like it. That is the risk to reward value. That means if your SL is 35 pips and your TP is 70 pips, then it is 2.
Oh that part is actually the idea invalidation value purple line. Since idea invalidation is the opposite of breakeven moving TP to entry vs SL to entry , we placed it there beside vs creating another line. Sorry for the confusion but good point. TP1 light green line is for the first partial profit. TP dark green line will close the remaining position.
Was thinking creating TP1,2,3 would be enough. Cool man you can just get it here. I will test the trade manager more to make sure I understand how to use it properly and if all goes well, purchase the full version copy very soon in the next few days. I do hope that the new suggestions can be implemented though!
Yes, so in the current version, it has partial TP and full TP. Like TP1 and TP2. You can set how much of each position you wish to close for each TP. You can take multiple positions on the same chart, it will remember the settings for each trade as long as you use it to open the trade. Thanks for this feedback. Good idea once again - I have added it into the latest trade manager version as an offset based on pips. Really glad you like the trade manager. It is similar and indeed looks like almost the same feature.
However, it is completely different. Ideally, for example, if going long SL is supposed to be placed just below support. Theoretically, only if it breaks support do you exit. Especially with systems that are similar to the way I trade. I use an extremely tight stop loss when scalping. Flat Trend Indicator. Dynamic Indicator. Linear Regression Indicator. LSMA Indicator. MA Indicator. Jurik indicator. Heiken Ashi. Fractal Indicator.
Damiani Indicator. Zero Lag Indicator. T3 Indicator. Trend Indicator. Ratio Indicator. Inside Bar Indicator. Pin Bar. HMA Indicator. High Low HL Indicator. DeMark Indicator. Juice Indicator. Breakout Indicator. Zig Zag Metatrader Indicator. Zig Zag pointer Metatrader Indicator. KG Wave Metatrader Indicator. Signal Metatrader Indicator. Range Metatrader Indicator.
KG Analysis Metatrader Indicator. Paint Bar Metatrader Indicator. Laguerre Metatrader Indicator. Various Metatrader Indicator. Digital Filters Metatrader Indicators. Mouteki Trendline Metatrader Indicators. Candlestick Metatrader Indicator. Trading Session Metatrader Indicator. SFX Metatrader Indicators. Dogara Saturday, 25 January John Brown Saturday, 09 November To my mind, indicators are very useful. First of all, they can provide you with an additional confirmation for the entry signal provided by other trading systems like chart or price patterns.
At the same time, there are even strategies based solely on indicators like moving average crossovers and others. By the way, the main advantage of indicators-based strategies is that they could be easily automated so you can create a bot that would execute trades in accordance with your strategy. There are a lot of various indicators, but they all could be divided into lagging and leading ones. Each of these categories includes subcategories, such as trend indicators, momentum indicators, relative strength indicators and others.
It would be also useful to watch educational videos and webinars, and to discuss this issue on one of the trading forums. But the most important part is training - try to use each indicator on demo account to find out how it would work with your strategy and whether it would be useful for your particular purpose.
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As traders, we are forced to rely upon Forex brokers to be able to trade.
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|Forex asian session time||It is not guaranteed to help, but at least you will be sure that your broker does not see your stop loss and have a chance to take it out through dishonest means. By charging extra overnight interest rates Brokers charge and pay disproportionate swaps based on the gap between short-term interest rates associated with currencies pairs set by central banks. The final aspect in choosing a forex broker is reputation. Learn Forex Trading. The U. When the gap is small, the customer pays the swap both ways; it will not matter if one is long or short on the pair.|
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|Mt4 trade manager forex peace army relative strength||Most brokers who offer the least spread charge the transaction cost on every executed trade through commissions. Without them we would have no way of placing orders and no way of earning money. Another good article Rimantas. Free market reports are delivered three times a day and the Market Snapshot emails provide an outlook of the markets for the following hours. Keeping in mind the info above, we can attest that AxiTrader reviews appear to be mostly positive with only a few minor discrepancies from lesser known and sometimes suspicious websites.|
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