By: Christopher Lewis When using a Forex signal provider, it is important to keep a few things in mind. The fact is that some signal providers are going to be better than others, and as such, diligence is extremely important. The fact is that nobody is going to care about your money more than you – including whatever signal provider you use.
If you live in the United States, one of the most important things that you can do to ensure you are using a reputable signal provider is to discover whether or not the signals are being sent by a CTA, or Commodity Trading Advisor. These individuals are registered with the CFTC in the US, that receive compensation for giving people advice on options, futures, and Forex, as well as actual trading of managed accounts. As such, they are highly trained and can be relied on as people who have completed various trading courses and examinations. While the amount of signal providers that have these people working for them are small – they are head and shoulders above the rest in terms of training and liability.
The second thing you should look for is actual performance. Many of the Forex signal providers out there are advertising results that are based upon hypothetical results. In other words, they are applying their systems to past markets, and can often be doing what is known as curve-fitting. This is when a system is applied in such a way that gives a better result than would occur in real time.
Watch out for performance claims as well. A fund claiming average gains of a few percent every month might not sound exciting, but it is certainly more believable than one claiming 10% ever month. Common sense should be applied. The scammers are counting on your greed to overtake your logic skills.
Another thing that you may want to pay attention to is where the service is actually located. You want the company to be from a country that has a strong rule of law, and as such can be held liable if something goes horribly wrong. Far too many Forex-related companies are located in countries that have a less-than-stellar reputation for business laws. As a simple test, ask yourself if you would drink the local water. If not, you have to think a country that pull it together well enough to have safe drinking water isn’t going to be concerned with a scammer that is selling bad Forex signals.
Even though most of this may seem like common sense, countless people get scammed every year by services claiming to be Forex signal providers who have never traded Forex in their lives. They are simply salesmen that have figured out a way to make a basic Forex system look exciting.
Ready to find reliable Forex signals? Check out our trading signal reviews and make an informed choice between TradeWindowXP, IntelliForex, and other top signal providers.
http://www.dailyforex.com/forex-articles/2011/03/What-to-Look-For-In-a-Signal-Provider/7498
If you live in the United States, one of the most important things that you can do to ensure you are using a reputable signal provider is to discover whether or not the signals are being sent by a CTA, or Commodity Trading Advisor. These individuals are registered with the CFTC in the US, that receive compensation for giving people advice on options, futures, and Forex, as well as actual trading of managed accounts. As such, they are highly trained and can be relied on as people who have completed various trading courses and examinations. While the amount of signal providers that have these people working for them are small – they are head and shoulders above the rest in terms of training and liability.
The second thing you should look for is actual performance. Many of the Forex signal providers out there are advertising results that are based upon hypothetical results. In other words, they are applying their systems to past markets, and can often be doing what is known as curve-fitting. This is when a system is applied in such a way that gives a better result than would occur in real time.
Watch out for performance claims as well. A fund claiming average gains of a few percent every month might not sound exciting, but it is certainly more believable than one claiming 10% ever month. Common sense should be applied. The scammers are counting on your greed to overtake your logic skills.
Another thing that you may want to pay attention to is where the service is actually located. You want the company to be from a country that has a strong rule of law, and as such can be held liable if something goes horribly wrong. Far too many Forex-related companies are located in countries that have a less-than-stellar reputation for business laws. As a simple test, ask yourself if you would drink the local water. If not, you have to think a country that pull it together well enough to have safe drinking water isn’t going to be concerned with a scammer that is selling bad Forex signals.
Even though most of this may seem like common sense, countless people get scammed every year by services claiming to be Forex signal providers who have never traded Forex in their lives. They are simply salesmen that have figured out a way to make a basic Forex system look exciting.
Ready to find reliable Forex signals? Check out our trading signal reviews and make an informed choice between TradeWindowXP, IntelliForex, and other top signal providers.
http://www.dailyforex.com/forex-articles/2011/03/What-to-Look-For-In-a-Signal-Provider/7498
By: Christopher Lewis Over the last couple of years, there has been a push in the Forex world towards social media. Many traders find themselves attracted to websites such as Currensee and eToro as possible places for trading ideas. Most of these places will give you an opportunity to follow a particular trader, some for free and some for a small cost. The ability to see what other traders are thinking is in theory a huge advantage. But the question remains whether or not these websites can prove to be helpful for the new trader.
In order to fully understand the concept, let's take a look at some of the potential advantages of social Forex trading platforms. It is by breaking down the advantages into small pieces that we will begin to understand the worthiness of these websites.
One of the first things Forex social trading platforms tout is the ability to follow winning traders. The truth of the matter is that winning traders on social platforms tend to be new traders themselves. It is ridiculous to think that somebody who just started trading is somebody you should follow. While it is true they may be on a hot streak and up 317% over the last three weeks, the reality is that sooner or later they are going to start taking losses. A trader like this is undoubtedly leveraging their account way too high. While he gives them great looking gains, the losses when they start taking them are going to be absolutely disastrous. It is because of this that you see a revolving door of "winning traders".
The other big thing that Forex social trading platforms promote is the ability to see what other traders are thinking. While in theory this sounds like a good idea, the reality is that the average trader on these platforms hasn't been trading very long. Because of this, their opinion may or may not be founded on reasonable analysis. Quite often you will see large amounts of these traders buying at the absolute top, or selling at the absolute bottom. You must know that even the most experienced professionals are taking losses, and as such you should be careful following their thought process. So when it comes to the thought process of somebody who's only been trading Forex for three months, the odds of it being a winning thought process diminish greatly.
Many of these social platforms are simply ways to make money for the owners. It might be through advertising, it can also be through referrals to brokers, or possibly even a situation where the broker actually owns the social platform. It is in the broker's best interest to have you trading is much as possible, and with as much leverage as possible in order to separate you from your money as quickly as possible.
*The opinion presented in the article is that of the author alone, and does not represent the opinion of DailyForex.com
http://www.dailyforex.com/forex-articles/2011/03/Forex-Social-Platforms--an-Opposing-View/7445
In order to fully understand the concept, let's take a look at some of the potential advantages of social Forex trading platforms. It is by breaking down the advantages into small pieces that we will begin to understand the worthiness of these websites.
One of the first things Forex social trading platforms tout is the ability to follow winning traders. The truth of the matter is that winning traders on social platforms tend to be new traders themselves. It is ridiculous to think that somebody who just started trading is somebody you should follow. While it is true they may be on a hot streak and up 317% over the last three weeks, the reality is that sooner or later they are going to start taking losses. A trader like this is undoubtedly leveraging their account way too high. While he gives them great looking gains, the losses when they start taking them are going to be absolutely disastrous. It is because of this that you see a revolving door of "winning traders".
The other big thing that Forex social trading platforms promote is the ability to see what other traders are thinking. While in theory this sounds like a good idea, the reality is that the average trader on these platforms hasn't been trading very long. Because of this, their opinion may or may not be founded on reasonable analysis. Quite often you will see large amounts of these traders buying at the absolute top, or selling at the absolute bottom. You must know that even the most experienced professionals are taking losses, and as such you should be careful following their thought process. So when it comes to the thought process of somebody who's only been trading Forex for three months, the odds of it being a winning thought process diminish greatly.
Many of these social platforms are simply ways to make money for the owners. It might be through advertising, it can also be through referrals to brokers, or possibly even a situation where the broker actually owns the social platform. It is in the broker's best interest to have you trading is much as possible, and with as much leverage as possible in order to separate you from your money as quickly as possible.
*The opinion presented in the article is that of the author alone, and does not represent the opinion of DailyForex.com
http://www.dailyforex.com/forex-articles/2011/03/Forex-Social-Platforms--an-Opposing-View/7445
By: Terry Allen
Consider that your scalping Forex strategy produces a 98:2 win-to-loss ratio. Now, although your risk-to-reward ratio will be extremely bad at 100:5, you would still achieve a profit that would be equal to (98*5)-(2*100) equaling 290 pips. However, although this sounds impressive you must also realize that you only need two additional losses to completely reverse this result practically wiping out all your profits in the process.
http://www.dailyforex.com/forex-articles/2011/02/Does-a-Scalping-Forex-Strategy-Work/7352
What is a Scalping Forex Strategy?
A scalping Forex strategy is a trading methodology that utilizes the shortest time frames available (known as a tick) for 1 minute, 3 minute and 5 minute periods. Forex scalpers focus on very small price movements and evade volatility as a primary consideration. They seek trading positions which allow them to perform multiple trades in very short periods of time whilst targeting small profits of 1 to 5 pips each time.Forex Scalping Compared to Traditional Strategies
For example, whereas the primary aim of a more traditional strategy may be to undertake three trades per day with 100 plus pip targets each, a scalping Forex strategy would attempt to fully action hundreds of trades within similar time periods whilst targeting only 5 pips each time. As you can verify, the former strategy could produce a maximum profit in excess of 300 pips compared to that of the scalping Forex strategy which would be in the region of 500 pips.Larger Risks Involved
However, in order to obtain the optimum results for a scalping Forex strategy implies that its users will need to risk more per pip than other strategies so that worthwhile profits can be produced. As such, as this requirement means that operators must risk a good deal more than 2% of their total equity per trade then this action violates the main concepts of most risk and money management strategies.When to Scalp?
A scalping Forex strategy will normally advise that you should attempt to trade Forex during its quitter periods when trading patterns tend to be more predictable and the levels of volatility are much lower. As such, the time period that is normally chosen for this type of trading is between 5.00pm and 9.00am EST during which time major countries, such as the US, UK and the Eurozone, do not normally release important economic data.Important Components to Consider
In order to attain consistent profits, a scalping Forex strategy needs to possess both a high win-to- loss ratio and a well-tested stop-loss strategy. As such, many scalping proponents utilize very small pip profit-targets together with relatively large stops and a high win-to-loss ratio. However, the utilization of such parameters normally means that the applicable scalping Forex strategy will also possess very poor risk-to-reward ratios.Justification for a Scalping Forex Strategy
Is it still worth developing or designing a scalping Forex strategy if it will only eventually possess a very poor risk-to-reward ratio? Yes it is, if you consider the following example. For instance, assume that you have selected a profit-target of 5 pips and a stop-loss of 100 pips per trade.Consider that your scalping Forex strategy produces a 98:2 win-to-loss ratio. Now, although your risk-to-reward ratio will be extremely bad at 100:5, you would still achieve a profit that would be equal to (98*5)-(2*100) equaling 290 pips. However, although this sounds impressive you must also realize that you only need two additional losses to completely reverse this result practically wiping out all your profits in the process.
http://www.dailyforex.com/forex-articles/2011/02/Does-a-Scalping-Forex-Strategy-Work/7352
By: Christopher Lewis When trading the Forex market, there are certain features that you will want to be aware of when it comes to your broker. Below is a short list of some of the most important criteria when choosing a Forex broker:
One of the most popular places to regulate is Cyprus. This is because the Cypriot authority is a little more lax on its Forex trading laws. By regulating there, you can claim that you are “regulated in an EU country”, which is technically true. But having said that, you could claim to be “regulated in North America” by being registered in Mexico. This implies the same stringent protections you get in the US or Canada. Common sense sees the folly in that argument.
By 700-1, this means that you can control $700 for every $1 you deposit. Because of this, it can supercharge your returns, as well as losses. Leverage is something that should be used sparingly.
It should also be noted that the United States regulatory authorities recently cut the amount of leverage that Americans can use down to 50-1 for major pairs, and 20-1 for crosses.
When you are looking to do business with a broker, don’t forget that they are there to serve the customer, and it pays to shop around – just like any other purchase. Forex brokers tend to be very competitive on various features and with a little bit of research you can get a lot more than you realize.
http://www.dailyforex.com/forex-articles/2011/03/5-Critical-Features-for-Any-Forex-Broker/7448
Regulation
While this seems like a no-brainer, many new traders do not know about the various regulatory bodies that are out there. If you are using a Forex broker, it needs to be regulated. Also, you should be aware of where it is regulated. This is one of the things most people overlook. As a general rule, you will want to see a country that is known for being business-friendly (at least in terms of the rule of law) as being the country of registration.One of the most popular places to regulate is Cyprus. This is because the Cypriot authority is a little more lax on its Forex trading laws. By regulating there, you can claim that you are “regulated in an EU country”, which is technically true. But having said that, you could claim to be “regulated in North America” by being registered in Mexico. This implies the same stringent protections you get in the US or Canada. Common sense sees the folly in that argument.
Charting
Believe it or not, not all Forex brokers offer charting. This is becoming less and less of a problem, but there are some that don’t. They generally will offer an ECN, or Electronic Communication Network, and sell an add-on for charting such as NinjaTrader. Provision of proper charting is a sign of a broker's integrity - failure to provide this is a sign that they may be less-than-honest.Pairs
Not all brokers offer the same currency pairs. Some will offer over 100, while others will only offer the 20 most common pairs as an example. One of the pairs that surprises people the most in this regard is CAD/JPY. Since the Canadian dollar and Japanese yen are both major currencies, most traders assume that the cross pair would be offered. All brokers are going to be different, and a diligent review of available trading pairs is essential. The last thing you want to do is turn around and close out an account right away because of an errant mistake.Leverage
Depending on what part of the world you live in, leverage can vary. Leverage gives you the ability to trade large amounts of currency with a small deposit. Some broker out there now offer as much as 700-1 leverage, and depending on your trading style, leverage can be good or bad.By 700-1, this means that you can control $700 for every $1 you deposit. Because of this, it can supercharge your returns, as well as losses. Leverage is something that should be used sparingly.
It should also be noted that the United States regulatory authorities recently cut the amount of leverage that Americans can use down to 50-1 for major pairs, and 20-1 for crosses.
Analysis
When you are learning to trade, it is always helpful to have a technical analyst available to read. Some brokers are very generous with their offerings when it comes to this kind of thing, and many are now employing professional technical analysts that post newsletters every day. This can be very helpful for the new trader.When you are looking to do business with a broker, don’t forget that they are there to serve the customer, and it pays to shop around – just like any other purchase. Forex brokers tend to be very competitive on various features and with a little bit of research you can get a lot more than you realize.
http://www.dailyforex.com/forex-articles/2011/03/5-Critical-Features-for-Any-Forex-Broker/7448
| Special for Daily Forex Users Open an account with Forexyard and get a 100% cashback on your deposits, worth up to $300. Click Here to register ForexYard is a retail forex broker that was established in 2004 and based in Cyprus. They offer a dealing desk brokerage, meaning they take the other side of your trades. Twenty-seven different currency pairs are offered as well as 3 commodities: gold, silver, and oil, plus stock indices. ForexYard offers very competitive fixed spreads. With the option of a web-based or downloaded trade platform, good customer service, flexible margin trading, and some additional features not offered at other retail brokers, this broker is recommended for experienced and especially beginning traders in the forex markets. The ForexYard website is easy to understand and navigate and opening a demo or live account is fairly quick and easy. They accept major credit cards or bank wire transfers for depositing into live accounts, as well as Western Union Money Transfers. Credit card deposits are immediate to start trading live, while wire transfers can take up to 3 days to process. They also offer a free trading course upon registration that is actually pretty good and goes over the basics of trading the forex market. Beyond the free course ForexYard also features several well-written tutorials for their trading platform and also for explaining several commonly used technical indicators. Live accounts with ForexYard can be as small as $100. They feature either a super mini account (for accounts smaller than $1000) or standard account. The ability to trade the commodities (gold, oil, silver) can only be permitted with standard size accounts. The super mini account is ideal for a beginning trader to put the minimum amount of risk on but still get the feel and practice of trading a live account. Also, with standard size accounts there are no fees associated, but with the smaller trade account there is a $25 fee for all withdrawals. Withdrawals require a form to be filled out and faxed along with proof of account holder and address. Withdrawals can be processed by sending to your credit card that was used to fund the account, or by wire transfer to your bank. Process time is questionable: the website states that “withdrawal process time will take no less than 3 days” but does not state a maximum time for processing. Also, ForexYard is very strict about now allowing scalping trades. The ForexYard trade platform is easy to use and somewhat customizable. The tutorials offered on their website along with the help section on the platform itself is very helpful for quickly getting started trading. They do not offer any feed for Metatrader4 or eSignal charts. But trading with their proprietary platform and charts is fine for intraday or swing trading. They offer all the usual order types including trailing stops. ForexYard customer service is pretty good. They can be contacted via telephone, email, or live chat on the website. The live chat responded immediately, while email response took 1 day. The only aspects to this broker that are questionable are that the terms and conditions are vague about profit withdrawal and about their ability to withhold your profits. The bank guaranteeing their accounts was not disclosed during this review process. ForexYard is not regulated by the NFA or other organization. **Currently ForexYard is offering to credit $300 to a live trade account for super mini accounts, or $1000 for standard accounts as long as a minimum of $1000 is deposited. |
http://www.dailyforex.com/Forexyard/Forexyard-review/3
| Marketiva has established itself as an industry leader thanks to its advanced trading platform and its highly recommended customer service. Marketiva state they have “more than 260,000 serviced users, 150,000 unique and live trading accounts, and more than 2.7 million live orders executed each month”. No minimum deposits are required to open an account with Marketiva. Actually, when you first log in, your account is already charged with $2.5 in real money, and $100,000 virtual money. The same account and platform are used for practice money and for the real money, so only a click of a button is needed to determine which funds you wish to use. Best of all, a $5 reward is given for opening a new account and depositing only $1. Marketiva’s rates are between 2-4 pips for the major pairs, offering less than 20 pairs all together. The leverage they offer is of 1:100, allowing a minimum trade unit of 1 lot! In addition to FOREX trading, Marketiva also allows trading funds, offering a list of 7 funds to choose from. The process of opening up a Marketiva account is quick and easy. Registration process is simple, and requires only minimal details for opening the account. No further procedures were required for downloading the software, which is also a quick and easy process. Streamster, Marketiva’s software, is known for its ease of use and flexibility. It has a high-tech look & feel, yet it is simple and intuitive enough for a beginner to understand. The software includes advanced charting tools, which are fully customizable, and enable opening positions right from the charts themselves. Accounts can be managed through the “Account Center” on Marketiva’s website, so it is not necessary to actually be logged into the Streamster download software, to follow account balance, open positions and trades. Deposit and withdrawal processes are executed through the web “Account Center”, and are clear and easy to follow through. To make a deposit, the following payment methods are available on Marketiva: Wire transfer, E-Gold, E-Bullion, E-Diner and Web Money. No fees are charged for deposits, however, these payment methods do accrue charges for withdrawals. The fee for withdrawing by wire transfer is $14.00, while for all the rest it is $7.00 and only for the first withdraw. Around the clock customer support is available from professionals with any questions that may arise, technical as well as trade related. Marketiva’s support standard is regarded by users as one of the highest in this field. This is despite the fact that support is provided mainly via email, and through the public chat-room, open be read by all clients. A multitude of additional services and resources are offered the trader. A section of FAQs, dealing with general issues of trade in the FOREX market, as well as specific questions about operating their software, is available on the website. The answers cover lots of ground, although not in the most enticing way. Market news and alerts are provided from within the system, to aid traders with their decision making processes. Instrument Profiles are also provided. These profiles contain detailed information categorized in several sections, allowing the trader to make a better decision on which instrument to trade. Marketiva enables clients to chat online with other traders, so they can discuss market events and trends, and exchange ideas and tips. To further enhance the community atmosphere, Marketiva runs Marketiva Masters Tournaments. Marketiva posts a list of traders who made the most profits during the last month and during the previous year. The #1 earner is named Marketiva Master of the month or year. The user-friendly software, high quality support, advanced community tools and low risk requirements, all make Marketiva very attractive for a newcomer to the FOREX market. |
http://www.dailyforex.com/Marketiva/Marketiva-review/28
| 10pips is a broker that deals with multiple markets including Forex, commodities, stocks, equity indices, and more. Their website is user friendly, easy to navigate, and is a clear indication of what you will get when you begin trading. While I could not help but notice that some basic information one searches for on a broker's site was missing, everything became very clear once I downloaded the 10Pips platform and began to trade. When it comes to registering and depositing money with 10pips, the process is relatively easy with a lot of different options, such as all major credit cards, and bank transfer. They offer their services in 11 different languages and their trading platform in 26, so no matter where you are in the world, you will be able to trade with 10pips. They offer an advanced downloadable trading platform, and offer a tutorial with a few screen shots accompanied by a brief explanation on how to use the platform. Not exactly a state of the art learning experience, but better than nothing. Their platform supports the various market standards in functionality including Entry Limit, Trailing Stop, Stop Losses, Take Profits, immediate transactions, and more. 10pips offers their customers a free demo trading account, and they claim that you will be up and running within five minutes, something that was not too far off from the truth. One of the unique and extremely useful features offered by 10Pips is the ability to deposit and withdraw money directly from the trading platform with no need for faxes, web forms, or 3rd party services to get your money. You can also start trading with a minimum deposit of $100 and a 200:1 leverage. Their platform does offer an advanced charting solution in real time to accompany your trading, a blessed initiative, and something other brokers should implement as well. Other advantages of 10pips is their no commission guarantee, no dealing commission, no withdrawal commission, and no rollover commission, not a bad start. 10Pips also makes it very clear to their customers that they offer 24 hour customer support, but the very standard chat feature that is offered by almost all brokers is unavailable with 10pips, and as of now, I have not received an email back from their representative. The truth be told, with such an easy trading experience, there really is no reason to contact 10Pips, but I would not mind having the option to contact them. 10pips.com is based in Belize and their primary audience according to them is the UK, US, European and Asian markets. Information about the company such as when they were established is also missing, and as I mentioned, was not yet answered by their customer support. 10pips offers some trading bonuses as well, such as a $20 welcome bonus with no deposit required and a 30% bonus on a first deposit. They offer their traders competitive spreads and many different local solutions. 10pips seems to be targeting traders who want an all in one solution for the various markets. It is true that 10pips offers support for many different markets, and besides the missing support features, I found 10Pips to be a very competitive all around broker. |
http://www.dailyforex.com/10Pips/10Pips-review/450
| FXPrimus is a new force in the Forex industry and based on our FXPrimus review, it is a force to be reckoned with. They offer their customers the industry standard Meta Trader 4 platform with the ability to trade both from your home computer as well as your smartphone, a feature not yet adopted by many Forex brokers. The registration, deposit, and withdrawal processes with FXPrimus are all relatively simple and straightforward with support for money bookers and the major credit cards. One of the unique characteristics of FXPrimus as opposed to many other Forex brokers is the fact that there is no dealing desk and therefore FXPrimus does not trade against you. They offer straight forward processing, which basically allows the trader to be treated as if they were an institutional bank and not a retail trader. This means a much more leveled playing ground for the trader, and leaves the trader in a better place knowing that the broker is being up front with them. FXPrimus offers its traders many different options in terms of trading accounts including micro, mini, and standard accounts, allowing traders to open an account with as little as $250. However, while that is a relatively minimal initial investment, FXPrimus' 500 to 1 leverage allows traders to trade with very high volume. The execution of FXPrimus' trading platform is also top notch with close to no slippage under normal market volatility. This broker works in conjunction with various tier one banks enabling the best quotes the market has to offer. FXPrimus did not stop at Forex and they also support metals, CFDs, and Forex options allowing traders to add some variety to their trading portfolio, not to mention the ability to scalp your various instruments. Trading with FXPrimus, you will also enjoy extremely low spreads such as 2 pips for the major currencies. The list continues with support for Islamic accounts, audits by Ernst & Young, as well as full FSC regulation. However, as usual, there are some down sides to FXPrimus. For starters, they claim to have 24 hour support by email, phone, and chat. However, after a few checks I conducted, their chat support is far from available 24 hours a day, in fact, the site said it was offline for the majority of the time I was conducting this review. Their email support was also not responsive enough by my tests. In addition, their website, which is the first impression a trader gets and should therefore be easy to use, was far from it. Much information I searched for was missing from the site, such as payment options and others, not to mention that the site as a whole is poorly organized and written. However, as important as an organized website is, what is more significant when choosing a broker is their trading features, and FXPrimus impressed me on that front. They seemed to have thought about everything and gave me the confidence to trust them as a dependable broker. Between their audits, their regulation, and their generally competitive offering, I would recommend this broker to any FX trader. |
http://www.dailyforex.com/FXPrimus/FXPrimus-review/454
| askObid is a new Forex broker that puts a strong emphasis on user experience. Their site is highly innovative and designed to perfection with all the information a trader would need available to them. AskObid is a feature-packed broker both in terms of their trading features as well as their overall offering. AskObid's main attraction that separates them from the majority of brokers is their customizable, easy to use, Web-based trading platform. What this means to the trader is easy and flexible access to their trading environment from any Web-enabled computer anywhere in the world. AskObid claims to recognize the importance of Forex knowledge, which is clearly an accurate statement if I am judging by the amount of resources invested in their Academy section. They offer traders a very informative and thorough education center, which would come in handy to new traders just getting started in Forex. While I found the information there to be very useful, there were multiple sections in the Academy part of the site that were incomplete or empty, but being a new broker, it is understandable that the site is a work in progress. AskObid is regulated by the Cyprus Securities Exchange commission and also complies with the MiFID. In terms of askObid's advantages, the available payment methods are more flexible than any other Forex service I have encountered. The methods include all credit cards, debit cards, and more than twenty other possibilities. In terms of withdrawing funds, askObid makes it very easy to get paid. All you need to do is click Withdraw in the platform and choose one of over twenty payment methods. AskObid offers the standard 21 day free demo account, which is of course something every trader should take advantage of. The demo account has no limitations and it will enable you to get to know the trading environment as well as your own trading strategy. The trader can also choose from one of three trading account types depending on trading style and available capital. The options are Silver, Gold or Platinum. The account types differ on various factors such as maximum deposit, spreads, personal trainers, access to webinars, mobile alerts, referral awards, and more. In terms of the bonuses offered by askObid, they differ based on your trading account. For the Silver account, there is a 10% award on up to a $1,000 deposit. For the Gold account, there is a 15% award on up to a $15,000 deposit, and the Platinum account has a 30% award up to $30,000. As you can see, askObid is a very impressive broker, but their most impressive feature is definitely their trading platform, which enables you to trade all the majors as well as gold and silver. In the platform, you can see what others are trading, enable one click trades, as well as completely customize the interface of the trading environment. Once you open a new position, it is listed in your open positions, at which point you can add stop losses or take profits. The one thing I did not like so much was the defined 200:1 leverage, which cannot be adjusted. In general, the platform is one of the most intuitive interfaces I have ever used. It is very user friendly and does not take long to master. Additionally, askObid has great customer service in my tests with a highly responsive chat feature that I found to be very helpful and professional. They also have an online form to send them an email or the option to have one of their representatives call you back, all options I found to be effective and timely. There really is a lot more to be said about askObid's service, such as their trading tools including market analysis and reviews, as well as their advanced financial calendar, but to sum it all up, askObid is a serious contender in the Forex market and one that with minimal work can become a leading force in this multi billion dollar industry. |
http://www.dailyforex.com/askObid/askObid-review/537
| If you’re looking for a reputable Forex broker and the ability to trade over 50 currency pairs, Forex.com may be just the broker you’re looking for. Forex.com is operated by Gain Capital, a financial services company that’s been in business since 1999, and even a cursory look at Forex.com will confirm that this online trading website was developed by industry veterans. Read this full Forex.com review to determine if this is the broker you’ve been looking for. General Information Founded in: 1999 Headquarters: New Jersey, USA Maximum leverage: 50:1 Minimum deposit: $500 Minimum lot size: 10,000 for a mini account, 1,000 for a MetaTrader4 account Languages available: English, Chinese, Russian, Arabic Regulation: NFA  Email from Forex.com (Click on image to enlarge) Ease of Use Throughout our tests of Forex.com we were continually impressed by the intuitive design of the company’s website and its trading platforms. Specifically useful is that unlike some other Forex brokers, Forex.com keeps its contact information obvious and accessible in both the trading platforms and the website, so that traders with questions can get live help instantly. There were several notable conveniences that Forex.com offered during the registration processes. When we opened a demo account, we were pleased to see that we were automatically logged in, instead of having to receive a username and obscure password via email as other brokers required. When opening a live account, we were exceptionally impressed to see that all necessary tax forms were not only presented during signup, but were required during the process. On the whole, the registration process was entirely straightforward and, as promised by Forex.com on the start page, it did take only about 10 minutes. The biggest problem that we had during our Forex.com review was figuring out how to switch between the different platforms, or rather, to download the FOREXTrader PRO platform once we’d logged into the web-based platform. A quick chat with the customer service team solved this problem. Another small inconvenience that we encountered was that when using the site’s search feature, you can’t simply enter your query and press enter – you must click on the ‘search’ button. Needless to say, this quirk is hardly a reason to reject Forex.com. Rather, it’s clear from our lack of serious criticisms that Forex.com is extremely comfortable to use in all regards. |
http://www.dailyforex.com/FOREX/FOREX-review/29
