When the first wave of Forex market boom hit the internet and more and more people started trading and investing money. It immediately attracted those shady characters of the world to jump in and commit multiple instances of FX fraud. The market got flooded with various brokers, software developers, providers of trade signals and other bad characters whose only interest was to scam you of your money and get out for, let's say, Barbados. Of course, it hit FX reputation hard. Sometimes people even mention its fraud, firstly, and then speak about trading. However, it also helped to separate wheat from the chaff. The legitimate businesses have survived all types of Forex fraud and have risen to the top. However, any FX trader (newbie or pro) needs to be careful as the bottom feeders do exi
If the answer is Yes and No, then what’s the big deal? Simply put: Transparency. Alternatively, perhaps more aptly put the promise of transparency. Some investors may initially be attracted by the spreads, but the real reason that so many traders like ECN is the chance to see how a real market operates. There’s no lying or cheating; what you see is what you get. For a lot of us, that’s all we really want: A fair trade. Bear in mind, though, your old retail trader wasn’t necessarily out to cheat or lie to you. It’s just that their business model doesn’t actually inspire confidence. Add to that the frequent and numerous media reports of brokers who practiced all sorts of the illegal doings, and you’ve got a market full of traders and investors just begging for transparency. Tha
One of the biggest advantages of Forex market is that it’s round-the-clock open. Yes, 24 hours a day, six days a week. While stocks and commodities markets “work” as normal-business-hours employees (Monday to Friday), Forex offers more. For instance, you can profit from your insomnia and place your trade at 3:00 AM EST on… Tuesday. Alternatively, you can use your preferred online FX trading system to simply place a trade at 10:00 PM EST on Wednesday. Just because you had time to deal with the market. However, I would consider Forex to be something opposite to, let’s say, city traffic. When you are out for driving at 5:00 AM, for instance, you will definitely drive alone. Silent streets, no jams, no arrogant beeping... But with Forex this empty-street “driving” would not bring you the ta
Nowadays, many people are smart to already know much about what Forex is and how the trading process is going. Forex market’s daily turnover in average varies between two to three trillion dollars. Due to advancements in the technology, many new traders are entering the market in search of wealth. For such people, it’s the automated Forex trading systems or Forex trading robots that could become an essential tool and help them to compete with the large financial institutions and banks that also trade in Forex. So why you need a robotic virtual hand in FX trading? Below I put four reasons, which put my personal trading to a new level and helped me to raise my trading income. 1. Ease to Operate Probably, in the closest future our surgeons won’t be operating with their hands, but use a r
Most traders often get confused between the types of forex brokers. At the outset, we have Market Markers, ECN and STP forex brokers which form the Dealing Desk v/s Non Dealing Desk type of brokers. To the layman, these terms might seem confusing, perhaps greek and latin as well. In this article, we explain the difference between an ECN and STP forex brokers. Before we continue further, let us first understand the forex broker dealer types, primarily the Dealing Desk v/s Non Dealing Desk brokers. Market Makers, also known as Dealing Desk forex brokers act as a counter party to your trades. In other words, when you trade forex with a market maker, you are in effect trading forex against the Market Maker's traders. The term dealing desk is derived from the fact that there is someone on th...