Forex – the market in which currencies are traded, is the largest, most liquid market in the world. The liquidity of the Forex market is due to the constant rise of offer and demand. The number of traders and brokers, as well as the large number of currencies traded leads to almost $2 trillion trading value per day worldwide. For traders, it may be a real challenge to find the best Forex broker, especially if they don’t know what to look for. Although Forex brokers may appear the same for the untrained eye, they are fundamentally different, in terms of leverage, spreads – the only fees for trading Forex, currencies traded, trading notifications, free demo accounts and many more. You can see how finding the best broker to suit your needs can be tricky. The first thing you need to do is get acquainted with the Forex terminology, research the markets and different brokers. Once you’ve done that, look for a Forex broker that offers tutorials, webinars and other free or paid trading educational materials. This will prepare you for the best, most profitable Forex trading experience. Second, look for a broker that offers a free demo account, because trading with such an account will be as good of a teacher as it gets, giving you the opportunity to experiment with different trading platforms and instruments. Also, a large leverage will increase your potential profits as a trader.
WHAT IS A GOOD FOREX BONUS?
Looking further into your Forex trading future, the smart thing is to choose a bonus which will allow you to juggle with the numerous trading pairs and instruments available. Therefore, by choosing a bonus on your first deposit, you will have a larger trading capital to begin with. Depending on the amount you decide to start trading with, Forex brokers offer either immediate or pending bonuses. The instant Forex bonus will be credited to your real trading account, to be withdrawn once certain conditions are met. The pending bonus amount is credited to your bonus account and is gradually transferred to your real-money account. Also, another trait of the best Forex bonuses is the amount of TP (trading points) which is needed to be able to withdraw your bonus amount. These points are gained and determined by the traded amounts. Every instrument gives different Tpoints per traded amount, so choose one that will suit you best. One of the best sites to offer superb forex bonuses is www.bestforexbonus.net there you can always find up to date offers and deals.
HOW TO TRADE WITH THE BEST FOREX BROKER AND BONUS?
Now that you have chooses the best Forex broker and the most suitable bonus, the next step is to get to know the broker and the trading instruments, as well as the notifications and warning calls offered. These will help you to manage your trading positions, either by automatically closing them, under certain conditions or notifying you when margin levels or trading returns have been reached. By setting certain values for these functions, the Forex platform that you use will automatically close your trading positions, when they reach a loss or return previously set. Choose these parameters wisely and the risk of trading Forex will be kept under control and your profit will increase.