Discovering Forex Trading Fraud

July 27, 2013 by  
Filed under Forex Trading


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The foreign exchange market, being the largest and the most liquid on the planet, is a wonderful method of profiting from and an increased lot of people are getting involved in trading currencies as a means of earning a living. Because of the expanding appeal of the Forex market, forex trading fraud artists attempting to exploit the Forex gravy train likewise tend to increase in number. Below are four ways on how you can recognize these scam artists.

To begin with, you have to make sure that the United States Commodities Futures Trading Commission (CFTC), or its equivalent in your nation, certifies your preferred Forex brokerage company. Besides searching for the regulator’s certification on your broker’s website, you ought to speak to the CFTC, through their website, to determine the authorization of your broker. A number of Forex brokerage firms are already certified; nevertheless, do countercheck to prevent being victimized by these terrible and unsafe forex trading fraud.

Next, stay away from over-the-top cases that assure high revenues in no time. There is no easy money in trading currencies. It is without doubt that it requires a great deal of dedication, examination, analytical abilities, understanding of economics, and constant practice to become a skilled trader in the foreign exchange market. There is no short cut for gathering high revenues in the Forex market. Therefore, any scheme promoting outrageous assurances through unwanted calls ought to make you to begin being suspicious. For example, an advertisement saying “1,000 pips per day!” or “300 % revenues in 2 days!” sounds too good to be real.

An additional method of recognizing a forex trading fraud is when a promo guarantees little or no monetary risk in trading currencies. In any investment, there is constantly the risk of loss. And, Forex trading cannot be an exception. Forex Scam artists can give you false promises that your investment is safe and secure, or they will use your capital for trading in the “Interbank Market,” and so on. You have to keep in mind that these assertions are far from reality, because even professional traders cannot assure that they will not lose their cash in any given day. The foreign exchange market is somewhat unpredictable; therefore, you have to stay away from people who fall short to recognize this vital truth.

Online Forex Trading Solutions

June 10, 2013 by  
Filed under Forex Trading

If you are actively trading in the New York Stock Exchange, one of the most active exchanges in the world, you should be very thankful. Its total daily transactions are averaging approximately at U.S. $50 billion, making it the largest stock exchange in the United States in terms of dollar volume. There are many individuals who want to get their feet wet on the ground of this New York City-based stock exchange.

Yet, you are luckier if you are actively involved in trading foreign currencies, or commonly known as Forex trading, which is considered to be the largest market on the world. Its average daily trading turnover is approximately U.S. $2 trillion, exceeding the combined magnitude of all other equity markets, including the New York Stock Exchange. Thus, you are luckier since you have the opportunity of getting more profits out of that $2 trillion traded everyday.

If you are not yet involved in Forex trading, then you are currently missing the benefits of trading foreign currencies—24 hour trading time, transactions conducted in real time, extreme liquidity, and others. Thus, you should decide to get a Forex trading account and start trading right away.

However, just like other types of investment, you must be aware of what kind of ground you are stepping into. In other words, before getting a live Forex trading account, you must be properly educated first about the background of Forex trading. You must learn how you will maximize your earning potentials as well as decrease the risk that you are into through practicing with free demo accounts. Moreover, you must have a trading system to follow and the necessary tools that will help you analyze varying conditions of the Forex market to position yourself on the profiting aspect of a certain trade.

Once you know what you are getting into, you are now ready to get your live Forex trading account, web-based trading system and platform, and other tools that you will need in your Forex trading career. Most neophyte Forex traders obtain their trading accounts and platforms through a Forex brokerage company or agents. There are many brokerage firms out there and you need to be selective, or else you will suffer the adverse consequences.

If you are still uncertain which Forex trading company you will trust in the early start of your Forex trading career, why don’t you try ACM Forex? They probably got what you need and at the same time the key towards the success of your Forex trading career.

ACM Forex stands for Advanced Currency Markets Forex, a Swiss-based online Forex trading company that is founded in the city of Geneva, Switzerland in 2002. Since it was founded on that year, ACM is now one of the major Forex institutions, particularly in online day trading, with an average monthly trade volume of U.S. $70 billion. They offer their clients quick access to the speculative Forex market through online dealing platforms that allows forward and stop trading of 27 pairs of foreign currencies as well as of several precious metals.

If you will open a live Forex trading account with ACM Forex, you will receive several benefits such as the following:

•    WYCIWYG or “what you click is what you get” advantage. It means that the price you clicked on at the start of the deal will be the price you are executed at, thus no single movement on the foreign currency price.
•    NRFQ or “no request for quote”. You can click on any live streaming price list and there are no requisites even on fast markets. Expect that there will be no dealer intervention and timers.
•    There will be no commission collected for every transaction that will be completed using the ACM Forex trading platform. All profits will go to your pockets and not to somebody else.
•    You are allowed to have multiple online trading platforms for maximized trading flexibility.
•    With ACM Forex, your risk is only limited to deposits or funds. Thus, you will never owe more than what you have invested in your Forex trading account. This means that there are no negative balances, whatsoever.
•    You can open a live Forex trading account for as low as U.S. $5,000.
•    There are 27 pairs of foreign currencies that you can trade within several clicks.
•    You have access to 24-hour foreign currency trading and technical support services even on weekends.
•    There are no confirmation delays—only instant and real time trade executions.
•    Secured online trading platform.
•    Technical analysis and real time charting tools for your market evaluation tasks.

With ACM Forex, the start of your Forex trading career is as good as a veteran trader. A good jump start and continuous success awaits you in ACM Forex

 

7 Tips for Trading Foreign Currency

June 10, 2013 by  
Filed under Forex Trading

Both experienced and newbie forex traders are always looking for trading tips. If you’re looking for tips like the ones on a horse race, I can’t help you! I can’t predict which horse will win the first race, and I can’t predict exactly which of your forex trade will be winners. You’ll find lots more great information about forex trading at ForexInfoPlace.com

What I can do, however, is provide you with some basic forex trading tips to help keep you on track to make money trading foreign currencies.

1. Trade, don’t gamble. Trading is based on research and knowledge, whether yours or a trusted advisor’s. If you risk trading foreign currencies on hunches or without proper knowledge and research, you are not trading, but just gambling. Save your gambling for the horses or the gaming tables, not your forex trading.

2. Use a demo account to practice trading before using real money. To do this, use your broker’s “demo account” facilities. With a demo account you can trade as if it were real, making and losing money just as in the real forex world. No money actually enters into the picture, which means you can make all the mistakes you need to in order to learn. My advice to newbies: trade on a demo account for at least three months before you go live with real money. Not only that, but analyze your demo wins and losses carefully, learn from your mistakes so that you won’t repeat them with real cash.

3. Trade in the time frame that suits  your style. Short time frames like 15 minutes makes for a lot of excitement and many traders love that. I do strongly advise new traders to look for longer trading timeframes though, as that gives you more time to think before you react.

4. As a beginner, go with the trend. With experience, you might want to experiment by bucking the trend, and you might be successful. But don’t take any chances this way until you are really experienced — and maybe not even then. Learn more about trends here.

5. Study the charts of periods longer than your chosen trading time frame. This gives you a bigger picture and gives you a better chance to see and accurately identify trends. For example, if you are trading in an hourly time frame, you want to look at daily and weekly price movements for a more realistic picture. The forex market is subject to occasional blips that can trip you up if you’re not ready for them. Watching how things are unfolding in longer time frames will help you see these glitches coming and take appropriate action.

6. Manage your money conservatively. That generally means risking only about 2 – 3% of your total trading account on one trade. Understand that you WILL lose on many trades, that’s just the nature of forex trading. Each time you lose, you need to make twice that much on the next trade just to stay even! Keep your risk low so that a few losses in a row won’t wipe out your account.

7. Ignore your emotions when it comes to forex trading. Many new forex traders, and even more experienced ones, have been wiped out because they let their emotions influence their trades. Make your trades based on analysis, both technical and fundamental, not on panic or elation. Never trade on a hunch (see tip #1).

The world of forex is exciting, but it’s also a dangerous space. I recommend ongoing education in all aspects for as long as you are trading forex. One great place to start is with this free 7-part mini-course

 

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