Can i trade forex without a broker

Want to get free forex demo account fast without registering with any forex broker?

Best forex bonuses

Download MT4 and Open MetaTrader 4 Demo Account Without a Broker, can i trade forex without a broker.

Follow this MT4 tutorial and rimantas will teach you how to download MT4 and open MT4 demo account without a broker in a few minutes. In this video guide, you’ll learn exactly how to do that. EA coder is a nickname of one of the most well-known programmers among forex traders - rimantas petrauskas. Having more than 20 years of programming experience, he created two of the most popular trade copiers for the metatrader 4 platform — the signal magician and local trade copier.

Download MT4 and open metatrader 4 demo account without a broker

Want to get free forex demo account fast without registering with any forex broker? Follow this MT4 tutorial and rimantas will teach you how to download MT4 and open MT4 demo account without a broker in a few minutes. In this video guide, you’ll learn exactly how to do that.

Rimantas makes it simple for you to download MT4, install MT4 on PC and open forex demo account without a broker.

Why would you want to have metatrader 4 demo account without a broker?

There are two mains reasons for that:

There are many forex brokers with a bad reputation and people usually do not start trading at all because they don’t know which broker to choose. When you can get a demo trading account without a broker you don’t have to stop yourself from learning how to trade forex. Now you can start demo trading without a broker. You can always pick one later when you feel you are ready to begin live trading.

You do not need to register with any forex broker and get your email inbox filled with spam messages and getting promotional phone calls every day from the broker ��

Here’s what rimantas teaches in this MT4 tutorial:

How to download MT4 platform from fxopen. We download from fxopen because they give direct MT4 download link without website registration required.

How to open metatrader 4 demo account without a broker (even when we download metatrader 4 from fxopen).

Why didn’t I download the MT4 installation file from the official metatrader 4 website?

How to open a demo trading account with fxopen broker (in case you’ll need it later). We are not affiliates for fxopen or recommend them. We use them only as an example because they give a direct MT4 download link.

Author profile

EA coder

EA coder is a nickname of one of the most well-known programmers among forex traders - rimantas petrauskas. Having more than 20 years of programming experience, he created two of the most popular trade copiers for the metatrader 4 platform — the signal magician and local trade copier.

A #4 amazon best-selling author in forex category, rimantas's book is called "how to start your own forex signals service".

Forex trading without deposit | no deposit bonus explained

It’s generally known that in order to get started in forex, you need to put a lot of resources into it. And while these resources can be your time and energy, the most straightforward one is, of course, your money.

It’s no surprise that one regular lot is equal to 100,000 currency units – forex trading is definitely an expensive endeavor. However, there are still some ways in which you can start trading forex while maintaining some sort of profitability without spending hundreds of thousands of dollars.

No deposit bonus in a glance

In forex trading you can, in fact, start trading with no money of your own or even making a deposit. With free no deposit bonus offered by the top forex brokers, you can start forex trading without deposit with a good boost.

There is no sense in hiding the fact that FX trading is risky, especially if you are trading without proper knowledge and at least minimal experience. In an attempt to prevail over the risk of losing your money and to stay safe, it is undoubtedly better to start trading with a free forex account or no deposit bonus offered by various FX brokers. Especially if such deals are not so rare at this time and even best forex brokers sometimes offer such deals.

It is always better to preview all conditions that offer you an option to trade without money of your own. So, be sure to start forex trading without a deposit now and get yourself a good and reliable deal!

But let’s say that although you’ve learned how to start deposit free forex trading, it’s still too risky for you. Thankfully, there is an alternative. One way to start trading with a broker is by opening a free forex demo account for beginners. A demo account will allow you to try your hand at trading on the real market without ever touching real money. One of the best brokers to try a free demo account with would be FXTM. If you don’t want to be working with FXTM and want access to a reliable forex broker that offers its services around the globe, alpari offers a similar service, including forex trading demo accounts. If you are a US citizen that wants to trade with local brokers, then you should go for forex.Com, who offer their services within the US and are known to be one of the best brokers in the world.

Transparent pricing and fast, reliable trade executions on over 80 currencies

Start trading with the largest forex broker in the US

How to start forex trading without deposit: tips & recommendations

As a matter of fact, a lot of brokers worldwide try to offer their clients those no deposit deals, and we’ve even seen some trading apps without deposit popping up here and there. Do not perceive this as an act of generosity though, those bonuses serve as a sort of protection for them also. But still, this is good for you if you want to start forex trading without a deposit.

Here are some of the main considerations that can help you spot a decent no deposit bonus:

If you somehow dislike conditions and terms offered by the broker – simply skip the promotion. Let’s investigate the ways that may help you find the best bonus in FX. First of all, bonuses must be easy to understand and transparent in general conditions. If you see non-explicit information presented, avoid the promotion or ask the broker for clarification.

If you wish to take part in the particular promotion and start forex trading without investment, then do not overlook terms and conditions. Even the smallest detail must be in your sight. A free bonus is actually not always 100% free. Some brokers may ask you to deposit some money in order to collect your profits. Indeed, such promotions are scams.

Be attentive, because some forex brokers can demonstrate a good opportunity with their no deposit bonus, however it may ask to complete the trading volume requirement. Stay away from the bonus that asks to complete more than 1 lot for $10 to further unlock the profits and balance.

Bonuses can vary in terms of geographical location requirements. Therefore, ensure that FX bonus accounts of the broker are given in your country as well if you desire to start forex trading without investment. Furthermore, there can be account restrictions. This means that no deposit bonuses may not always be available for every account at a particular broker. Thus, check whether you applied for a correct account.

In addition, make sure what instruments can be traded to withdraw your profit before you begin trading as sometimes FX bonus accounts are not available for some of them. As for the withdrawal, some forex bonus brokers limit the maximum profit available to withdraw from the account. So, do not miss this field before you start trading on your no deposit FX bonus account.

Bonuses are frequently represented only in 1 currency equivalent. However, there are many no deposit bonuses that evaluate a similar amount in your local currency, so doing your research in order to figure out how to join forex trading without making any deposits is a good way for ensuring success in the long run.

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How to start forex trading without a deposit?

As one of the cases, no deposit bonus may come with SMS verification. It is recommended to make sure that you have the right phone number prior to start applying for the bonus.

One of the last tips that can help you find a trustworthy no deposit bonus, or at least help you get through a scammer, is to save the terms and conditions document as a .Pdf file. Do this even if you deal with the best no deposit forex bonus account. You can use the help of your account manager and ask him to confirm all the statements of the bonus promotion in which you participate.

Start forex trading without deposit: introduction to best no deposit bonuses

Although there are very good no deposit bonuses offered by industry leaders and most proficient brokers, you should understand one fact: FX bonuses without a deposit are most frequently offered by bad brokers. That is the very reason why you should be very careful not to get entangled with a scammer.

All this leads to us stressing how important it is to be attentive at all times, so be attentive to details when researching how to start trading with no deposit bonuses. Fortunately, we have examples of the best brokers/investment firms.

Start forex trading without investment: XM forex broker

To begin with, XM is recognized by the united kingdom-based organization – investors in people for its powerful efforts in developing individuals to realize their entire potential and achieve both individual and corporate goals. We should also admit that this organization provides a huge amount of proven tools and resources specially designed to complement its unique framework with an aim to boost performance and indeed maximize sustainability. XM achieves this standard by showing that it is a driving force in the online trading sector and is committed to the provision of services and products of the best quality. How to start forex trading without money? If you are interested, you can claim the XM 30 USD no deposit bonus!

Get your 30 USD no deposit bonus with XM, and start trading today

*clients registered under the EU regulated entity of the group are not eligible for the bonus

No deposit bonus as an alternative – is it worth it?

So, now that you know what no deposit bonuses are and how they work, one question remains active: is it actually worth it to sign up for one yourself? Will you get any significant benefit from it?

The answer to that question is subjective; some traders can definitely find use in this type of promotion by amassing a small account balance and then turning it into a full-blown trading career. But in order to do so, you need to be very careful not to catch a scammer instead of a legitimate promotion issuer.

As for other traders, they often prefer spending their own money, which gives them more incentive to be more careful in the market – after all, it’s their own money they’re risking.

So, suffice to say no deposit bonuses have their time and place; one just has to seize that exact moment.

How to trade without a broker

In recent years, online trading has become increasingly popular. Many investors are realizing that they can trade on their own without the help, and extra expense, of a traditional stockbroker. Not only are traders becoming empowered by doing their own research and making their own decisions on how to manage their portfolio, but also they are cutting out the middleman, and saving money by trading without having to pay the broker.

When using an online brokerage firm, investors are still trading with a broker. They’re just trading with a less expensive broker who provides less service, support, and advice. When using an online broker, there is still a middleman involved. However, there is a way to eliminate that middleman, too. It’s called direct access trading.

What is direct access trading?

Direct access trading allows investors to trade directly with market makers and specialists, rather than going through a broker. Direct access trading uses software to link directly to the major stock exchanges and electronic communication networks, or ecns. (an ECN is a completely electronic stock exchange.) having this direct access to the exchanges not only saves the trader on commissions, but it also allows for faster executions and immediate trade confirmations. For active traders, and those who need immediate information, this instantaneous action and reaction is a great value.

The other major advantage to direct access trading is it allows the trader to see more of the market. With an online broker, you can see the bid and the ask price for a stock. With direct access, you trade using level II quotes, which allows you to see how many buyers and sellers there are at each price, as well as the size of the lot they are trading. This gives the trader a much better picture of a stock trend, as well as how much support or resistance there is at any given price level. This information, if used properly, will allow you to pinpoint the timing of your entry and exit for maximum profits.

With direct access trading, it is very important to choose the right trading platform. There are many direct access platforms on the market today, but they are not all created equal. They can vary quite a bit in price, features, and even speed. In addition to choosing the right platform, you need to know how to use it properly. Simply having the software on your computer will not make you a more successful trader. You need to have the specific knowledge necessary to use it the same way professional traders do.

Trading without a broker in this fashion is not the best thing for everybody. For a new trader, we would recommend staying away from the complexities of this type of trading until you have a better idea of how the markets work. However, for intermediate and experienced traders, direct access trading will help you maximize your profits.

How to get around FIFO and hedging forex trades with a US broker

If you are in the US and are frustrated by the hedging and FIFO rules, this post is for you. With a little advanced planning, you can get around the rules and it is all perfectly legal.

Hedging Forex and FIFO possible in US Account

If you wish that you could implement forex hedging with a US forex broker and not have to follow the FIFO rule, then this post is for you. There are ways to legally get around both of these restrictions, if you do a little advanced planning.

Before I get started, please read this entire post, especially the warning at the end. These are advanced tactics and definitely not for beginners! Even if you are an advanced trader, I would not recommend using these tactics unless you have a clear strategy that you have tested and you are comfortable with.

Doing this is actually pretty simple and if you thought about it long enough, you probably would have come up with this on your own. But if you haven't, then keep reading because I will show you exactly how I do it.

If you still don't believe that this is possible, then I have also included a video demonstration. As you know, things may change over time and this may not work at a later date. So if you are interested in doing this, be sure to test it in a demo account before you use it in live trading.

What do FIFO and hedging mean?

If you are new to trading, let me explain these two concepts really quickly. Here are the informal definitions for each term:

Hedging: holding both long and short positions for the same currency pair, in the same account.

FIFO: stands for: first in first out. If your broker is required to adhere to FIFO, then for each currency pair, they must make you close out your oldest trades before you can close out trades that you opened more recently.

Traders in the united states have to adhere to these rules, per US law. These laws were created because allowing hedging and non-FIFO trading can be confusing, especially to new traders.

But if you are a more advanced trader and can handle these more complex trades, there is still something you can do about it.

How to forex hedge in a US based account

Hedging forex trades is actually quite easy, just open two different accounts…one for longs and one for shorts. The key to doing this safely is to remember which account is which. If the balance one account gets low and the other starts racking up profits, just transfer money between the accounts to balance them out.

Make sure that your broker allows you to transfer money between accounts. I don't see why this would be a problem, but you never know.

My broker is oanda and by using their java trading platform, I can open one account in one browser like firefox and use another browser like safari to open another instance of the trading platform and have the other account open at the same time. Because I need to keep all of the longs in one account and all of the short in the other account, having a different background color for each account helps me keep track and reduces order entry errors.

How to get around FIFO and forex hedging

Just like with hedging, we are still subject to certain rules, but if you know the workarounds, you can take advantage of them. The process does take a bit of advanced planning, but it works great.

I don't mind so much that you cannot hedge, because I don't do it. But I am really against the FIFO rule.

To me, it does more harm than good. But that is almost irrelevant because I know how to get around it.

The trick is to use different sized lots. The rules state that if a previously entered position is of a different size than later positions, it is not subject to the FIFO rules.

Since oanda allows nano lots (which is awesome because it significantly reduces your risk, especially in small accounts), you can enter different lot sizes without it significantly impacting your risk.

Here is what I mean…

For example, the smallest lot size most brokers allow you to enter are micro lots, which are 1,000 currency units. However, since oanda allows nano lots (1 currency unit), you can enter a second position at 1,001 units and a third position at 1,002 units.

Because they are all different position sizes, you are allowed to exit the 1,001 unit position and the 1,002 position before the 1,000 unit position.

You just have to do some advanced planning when it comes to your order entry. Break down your positions into unit sizes that you want to incrementally exit.

So if you have a total position size of 10,000 units, you may want to exit at 1,000 unit lots, so you would have to enter 10 separate positions to allow for smaller exit sizes.

Keep in mind that if these are sell orders and you accidentally enter a buy order for that pair in that account, it will still subtract those units from the oldest open position. So in our example with the three positions, if you accidentally bought 100 units, it would be subtracted from the 1,000 unit position, giving 900 units after the mistake.

Here is what it would look like with the first two positions:

When hedging in forex doesn't work

The hedging workaround should work for most brokers, but test it out in a demo account before you proceed.

Do not make any assumptions.

There are some brokers and platforms for which the FIFO workaround doesn't work. In fact, there are probably a lot of brokers where it doesn't work.

For example, when I looked at the proprietary FXCM trading platform, they blend trades together and they do not allow nano lots, so you could not use this method.

Even if they did allow nano lots, instead of having two positions of 1,000 units and 1,001 units (like with oanda), you would have one position of 2,001 units at the average entry price. So even if you did only want to exit the second 1,001 unit trade, you wouldn't be getting the entry price for that first order. The entry price would be the average of both positions.

Let's take a look at a (very) simplified example…

If you entered the first 1,000 unit short position at 100.00 and the second 1,001 position at 105.00, you would have a total blended position of 2,001 units with an average price of 102.50. If the current price is now 104.00, you could not exit the 1,001 unit position at a 100 pip profit.

Any exit of this position would incur a 150 loss.

When we are forced to take off the oldest position first, there is no opportunity to take some profit off the table on the more recent trades and wait for the older position to become profitable. Yes, it is true that blending and not blending positions is theoretically the same thing at the point in time when a partial position is closed out.

But in reality (the case above, for example) it would show up as losses on our P/L when it could have been a profit.

The bottom line is that if you want to do this, be sure to test out a demo account with a prospective broker first. There is no use in going through all the trouble to register and fund an account, only to find that your broker blends positions or does not allow different position sizes.

Also keep in mind that your position size might not require nano lots. If you are trading 100,000+ unit positions, an extra 1,000 unit micro lot might not make much of a difference to you and you might still be able to use this technique.

Don't believe me? Here's forex hedging and non-FIFO trading in action

Alright, check out this video and I will show you how this works in more detail.

A final word of caution on hedging forex and the FIFO rule

Although I don't agree with the US laws on hedging and FIFO, they are designed to protect traders from themselves because hedging and managing multiple positions can get complicated real quick. They are advanced strategies and should only be implemented after you have a firm grasp of the basics and actually have a trading system.

Even then, these strategies may not work with your systems and your personality.

So the bottom line is that just because you now know the workarounds, it doesn't mean that you should use them. Again, these methods may not work with all brokers.

Always test your ideas in the lab and in a demo account first!

What do you think? Do you use hedging? Has FIFO messed you up before?

How to trade forex completely anonymously (without KYC documents)

The reasoning behind KYC requirements is a noble one, but there are problems that the requirements present

Since the very inception of forex trading, KYC (know your customer) documents have been presenting challenges to both traders and brokers alike. These documents are often the one thing that stands between a prospective trader and the platform they need to use to profit from FX trading.

In this article, we’re going to talk about what these document requirements are, why brokers have always asked for them, and how you can now partner with brokers such as eaglefx in order to avoid having to trade off your personal information in exchange for access to a forex trading platform.

KYC documents overview

The foundation of know your customer documents is rooted in an anti-money laundering initiative that was put in place in 2014. The initiative’s goal was to battle money laundering, especially laundering on the part of those who wish to help finance global terrorism.

Clearly, KYC requirements stem from a very noble cause and as such, we cannot refer to them as a “bad” thing exactly.

What we can refer to them as is a challenge, simply because a surprising number of individuals do not have the identification and documents required to meet KYC requirements.

KYC documents are requested from a variety of financial institutions, such as banks, money lenders, and other businesses that deal with incoming and outgoing financial payments.

The document requirements include a legal, government-issued color photo identification card. This could be a passport, driver’s license, military ID card, or other official ID.

They also require proof of one’s residence and could be either a bank account or credit card statement, utility bill, telephone bill, or other official documents that show proof of residency.

This proof must be dated and must be dated no more than 3-months from the day that the document was submitted as proof.

Problems stemming from KYC requirements

As mentioned above, the reasoning behind KYC requirements is a noble one, but the problems that the requirements present are two-fold. On the one hand, the sharing of the documents puts one at risk of identity theft.

On the other, not everyone has them. There are a million and one reasons as to why one might not have one or both of the document types which are required and the fact of the matter is that brokers that adhere to know your customer rules do not care why you do not have them, instead, caring only that you don’t.

Sharing your personal details presents its own set of problems, but when combined with sharing payment method details, the threat grows by leaps and bounds.

When funding an account via credit or debit card, or even by bank wire transfer, you’re going to have to share payment information. This could include card numbers, account numbers, or other information which is best left private.

Often, it is not the broker that requires that you share this information, but instead the payment processors and banks that work with the brokerage in order to accept deposits and issue withdrawals.

Issues with credit/debit and bank wire deposits

When it comes time to make a purchase, most people immediately reach for their wallet or purse to grab a credit or debit card.

Some think nothing of entering their card numbers online, while others go to great lengths to avoid doing so.

When making a card deposit with a forex broker, you will need to share not only the complete card number but also card information such as the expiry date and special CVV code from the backside of the card.

The broker may go one step further in asking you to send a photo of the physical card with all by the last four card numbers covered in order to help establish that you are in fact the owner of the card and payment account.

For larger deposits, in particular, bank wire transfers are often opted for. Wire transfers offer a more secure method of fund transfer but are of course the slowest of the available deposit and withdrawal options.

In some cases, you may be asked to send a wire transfer receipt to the broker, and this receipt may contain a substantial amount of personal information. It should be possible to blackout any private details that are not pertinent to the actual transfer, but even this might not be enough to offer total protection.

Wire transfers also tend to be costly. Even when the broker forgoes any wire deposit fees, the average wire transfer fee charged by a bank is around $30 per outgoing and incoming transfer.

Avoiding know your customer document submission

The most important step to avoiding the KYC process completely will be to select a broker that allows you this right. The aforementioned broker, eaglefx, is one of the most reputable brokerages that now permit their clients to trade FX anonymously. Their registration process requires that one only submit their first and last name, along with their email address.

An email will be used to send important information to you, which includes confirmations, monthly activity statements, and much more.

Because of this, you’ll want to provide a real email address rather than a bogus one.

The next step will be to only deposit and withdraw using a cryptocurrency such as bitcoin. With other payment methods, the broker is required to collect your KYC documents, but are at liberty to bypass the requirement when the trader opts to conduct all of their banking transactions by way of digital coins.

This step is completely necessary, so if you’ve never purchased cryptocurrency in the past, now is the perfect time to become familiar with them. The purchasing and submission processes are actually quite simple and even better, take very little time to complete.

Potential problems?

There are a few potential problems with anonymous FX trading, but the bulk of these fall onto the broker. For example, allowing private trading means that the broker is unable to manage certain controls, such as the location of the trader.

Perhaps the broker doesn’t want to accept clients from china. By not requiring KYC documents to be submitted, they are much less likely to be able to control this. The same applies to a client’s age.

When identification is required, the broker can ensure that the trader does meet their age requirements. These are just two of the risks that the broker accepts when allowing for private forex trading.

What about problems on the trader’s end of things? Well, this really comes down to the fact that no regulated broker is going to ever be allowed to accept clients into their platform without having them meet the KYC requirements.

They fully understand that they are missing out on a large segment of the market, but there’s really nothing that they can do to change that.

Who knows what the future may hold, but for now, there’s no immediate solution for regulated brokers who want to allow anonymous trading within their platforms.

The best-case scenario for those who wish to trade forex privately is to select a trusted brokerage that allows it to do their trading with.

Brokerages such as eaglefx are beneficial not only in that they allow clients to trade completely anonymously, but they also offer the perks that all traders want, such as excellent platform conditions, high leverage, 24/7 interactive customer support, same-day withdrawals, low minimum deposit requirements, and much more.

Whether you want to protect your identity and payment information, or simply do not have the documents required to pass the KYC test, you now have a solid option for trading FX on your own terms.

Disclaimer: the content of this article is sponsored and does not represent the opinions of finance magnates.

Can you trade forex without A broker

What become the best pc's for forex investments?

A good platform will provide you will litigant support you can do all the time. 1) have your trading software, furnished from your broker, draw the 8, 21 and 30 exponential moving averages.

Binary trading options signals

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It is also very straightforward for a newcomer who doesn't have invested when in front of. The binary options system is under no circumstances complex and really simple mechanism to understand, even to find a layman.

Don't feel you can establish uncharted forex success. A forex trade is an immensely complex enterprise and financial experts that study it all climates and seasons long. Chances of you blundering into an untried but wildly successful strategy are vanishingly small. Investigation . Research and do what's been that'll work.

1) have your trading software, furnished through your broker, draw the 8, 21 and 30 exponential moving earnings. Look for a stock which includes retreated in such a way how the 8 and 21 EMA lines are below the 30 EMA line. In fact, the 8 EMA must be lower as opposed to the 21 EMA which is lower than the 30 EMA line. The amount look up to a point like a bow-tie. When using some imagination, you can easily how these exponential moving average curves describe a bow-tie configuration.

Currency trading will mean that you are trading currency pairs when it comes to example the euro around the US amount of money. The best thing about wishes that it matters not if the euro is booming or sinking, you can trade on ways. Nevertheless, you have to remember that the fx market is very volatile and is particularly very easy to lose income if must watch over.

Some brokers will offer fixed spreads on all trades, offers the regarding predictability. It is a kind of fixed 'commission'. But might or may not suit your trading style or your budget, since they tend in order to become larger than variable propagates.

We provide best extremely powerful and easy to use keylogger software to monitor external user PC activities in simplified manner. Exceptional provides information advanced PC monitoring tools to manage external user activities in minimal effort.

An ECN broker uses anonymous transactions when executing client transactions. They ensure that the client's trades and account identity are not shared out so the trader shouldn't be traced back. Most traders like this protection of privacy hence would choose ECN companies.

Sometimes, the solution to turning a prospective negative to be able to positive is patience and time. Do you also have any misconception about the two? Well, a lot of people simply take their bets and wait for your result. Trading options, internet marketing biz

No KYC forex brokers

Anonymous forex trading

If you want to trade forex without giving your personal information to your forex broker, the options are very limited. While in most situation people don't have a problem with sharing their information with their broker in order to trade with regulated companies and have a higher degree of protection, some people value their privacy more and want to trade anonymously. There are situations where anonymity has some advantages, and in this article we will show you which forex brokers allow you to trade anonymously.

No KYC forex brokers

In order to trade forex anonymously, the forex broker must accept traders and allow them to trade without doing the infamous due diligence also known as "know your customer" or simply KYC. Most brokers are forced to do a detailed KYC process because of regulation or because most payment providers will not allow them to accept payments from anonymous sources.

Fortunately, with cryptocurrencies such as bitcoin, brokers can now accept payments without having to deal with a payment provider. This means that by working via bitcoin or other cryptocurrency, a forex broker can receive deposits and process withdrawals without being forced to do excessive paperwork by the payment provider. This opportunity has created a small niche for forex brokers with no KYC requirements that will allow anyone to trade by providing only an email address.

Currently, we are aware of the following forex brokers requiring no documents and no KYC for clients who deposit via bitcoin:

Forex brokers with no verification and no documents required

There are some pros and some cons when using a forex broker that has no verification requirement and will not request documents from you before allowing you to trade.

Advantages:

- ultra fast set-up of the account. You can trade immediately.

- no risk of identity theft. Your identity and documents are not exposed to an offshore third party.

- no country restrictions. You can trade with an unregulated broker that offers high leverage no matter what country you are from and what are your local restrictions.

- anonymous earnings. If you earn money by trading forex anonymously, nobody will know about your winnings.

Disadvantages:

- A forex broker that allows its clients to trade without a KYC process will never be regulated. This means that you must use an unregulated broker if you want to remain anonymous.

- generally, there is less protection for your funds when dealing with an unregulated broker, but this doesn't mean the broker cannot be good. It is recommended to never keep funds in excess on your trading account. Since bitcoin deposits and withdrawals are very fast, you can keep your account funded only with the amount needed for day to day trading. Anonymous forex brokers offer high leverage, and this greatly reduces your capital requirements.

Risk warning: forex, CFD and crypto trading involves the risk of losing the entire invested capital. Never invest money you cannot afford to lose.

Is it possible to trade forex options?

Options are available for trading in almost every type of investment that trades in a market. Most investors are familiar with stock or equity options, however, there are options available to the retail forex currency trader as well.

Currency option trading

There are two primary types of options available to retail forex traders for currency option trading.

Call / put options

The first is the traditional call or put option. The call gives the buyer the right to purchase a currency pair at a given exchange rate at some time in the future. The put option gives the buyer the right to sell a currency pair at a given exchange rate at some time in the future. Both the put and call options give investors a right to buy or sell, but there is no obligation. If the current exchange rate puts the options out of the money, then the options will expire worthlessly.

Single payment options trading (SPOT)

Alternatively, the other type of option available to retail forex traders for currency option trading is the single payment options trading (SPOT) option. SPOT options have a higher premium cost compared to traditional options, but they are easier to set and execute.

A currency trader buys a SPOT option by inputting the desired scenario (ex. "I think EUR/USD will have an exchange rate above 1.5205, 15 days from now,") and a premium will be quoted. If the buyer purchases this option, then the SPOT will automatically pay out should the scenario occur. Essentially, the option is automatically converted to cash.

Using exotic options

Options are used by forex currency traders to make a profit or protect against a loss. It is also important to note that there is a wide variety of exotic options that can be used by professional forex traders, but most of these contracts are thinly traded because they are only offered over the counter. Because options contracts implement leverage, traders are able to profit from much smaller moves when using an options contract than in a traditional retail forex trade.

When combining traditional positions with a forex option, hedging strategies can be used to minimize the risk of loss. Options strategies such as straddles, strangles, and spreads are popular methods for limiting the potential of loss in a currency trade.

How to trade forex options online

Not all retail forex brokers provide the opportunity for options trading within your accounts. Retail forex traders should be sure to research the broker they intend on using to determine whether everything that will be required is available. For forex traders who intend to trade forex options online—for either profit or risk management—having a broker that allows you to trade options alongside traditional positions is valuable. Alternatively, traders can open a separate account and buy options through a different broker.

Because of the risk of loss when writing options, most retail forex brokers do not allow traders to sell options contracts without high levels of capital for protection.

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Till about a decade ago, you had to make use of the telephone if you wanted to invest in the financial markets. You had to call up your broker for placing as well as closing orders. Introduction of online trading has, however, simplified every aspect of the investment process. You can carry out trades from the convenience of your home or on-the-go using the platform provided by brokers. Sounds simple, but the problem is there are umpteen number of forex brokers that offer trading platforms out there in the market. And, you need to work with the best forex broker if you want to achieve your financial goals. So, it all boils down to identifying the right broker to work with and it is definitely not an easy task. Read on to find out as to how you can identify the best forex brokers. In this post, various aspects you need to take into consideration when choosing a forex broker are discussed in detail so that the selection process becomes simpler and easier for you.

Top recommended and the best forex brokers for 2021

info	bonus	open account
min deposit: $5 spread: from 0.2 pips leverage: 500:1 regulation: FSA (saint vincent and the grenadines), cysec	50% deposit bonus, real contest 1st prize luxury car BMW X5 M, copy trading, trade&win.	Visit broker
min deposit: $1 spread: from 0 pips leverage: 3000:1 regulation: cysec, IFSC	$100 no-deposit bonus, 100% deposit bonus	visit broker
min deposit: $5 spread: from 0 pips leverage: 888:1 “*this leverage does not apply to all the entities of XM group.” regulation: ASIC, cysec, IFSC belize	“50% +20% deposit bonus up to $5,000, loyalty program bonus “*clients registered under the EU regulated entity of the group are not eligible for the bonus and the loyalty program”	visit broker
min deposit: $1 spread: from 0 pips leverage: 2000:1 regulation: FCA UK, cysec, FSP, bafin, CRFIN	35% of the account deposit	visit broker
min deposit: $100 spread: starting 0 pips leverage: up to 400:1 regulation: FCA UK, NFA, CFTC, ASIC, IIROC, FSA, CIMA	visit broker
min deposit: $300 spread: floating, from 0 pips leverage: 500:1 regulation: FCA UK reference number 579202	visit broker
min deposit: $200 spread: starting 0 pips leverage: 500:1 regulation: ASIC australia, FCA UK	visit broker
min deposit: no minimum deposit spread: 1.2 pips leverage: 50:1 regulation: CFTC, NFA, FCA, MAS, ASIC, IIROC	visit broker
min deposit: $10 spread: leverage: regulation: cysec	-	visit broker
min deposit: $200 spread: from 3 pips leverage: 400:1 regulation: NFA, FCA, cysec	visit broker
min deposit: $100 spread: starting 0 pips leverage: up to 500:1 regulation: FCA UK, ASIC australia, MAS singapore	visit broker
min deposit: $1 spread: fixed spread from 3 pips leverage: up to 1:1000 regulation: CBR, cysec and FFMS	30% forex deposit bonus	visit broker
min deposit: $250 spread: as low as 0.1 pips leverage: up to 400:1 regulation: ASIC australia and FCA UK	visit broker
min deposit: €100 spread: the spread can be as low as 0.01%” (0.01% = spread for EUR/USD) leverage: 1:294 regulation: ASIC, cysec, FCA (UK)	visit broker
min deposit: $100 spread: starting from 0.9 pips leverage: 400:1 regulation: MIFID, FSB & ASIC	visit broker

Risk warning: cfds are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.4% of retail investor accounts lose money when trading cfds with this provider. You should consider whether you understand how cfds work and whether you can afford to take the high risk of losing your money.

Main parameters to be checked for identifying the best forex brokers:

#1: regulations and licenses

It is highly recommended that you choose only forex brokers that are regulated or authorized by leading regulatory bodies such as commodity futures trading commission (CFTC), national futures association (NFA) and financial conduct authority (FCA in UK), among many others. This is because regulated brokers are more reliable than their non-regulated counterparts. Further, your hard earned money remains safe with such brokers for two reasons: they will be appropriately capitalized and they maintain segregated accounts for theirs as well as traders’ funds.

#2: forex trading platform

The online trading platforms that recommended forex brokers provide would not only be simple, but also intuitive and easy to operate or navigate. It, therefore, makes sense to try out a few online forex platforms and see for yourself as to which one has a better user interface and is easily navigable.

#3: customer support services

Customer support is a key aspect that you need to evaluate. Best fx brokers would often be aware of the needs of the traders and provide good, efficient and responsive customer support services. During the course of trading forex on an online broker’s platform, there will be times when you need certain time sensitive clarifications. If the customer support service of the broker you are planning to work with is not good enough, you could end up losing money. It is, therefore, recommended that you evaluate the brokers’ customer support service both by speaking to their representatives on telephone and by communicating with them through email.

Leverage offered for forex trading varies from one broker to another. If the leverage is high, the trader can make more profits. However, the risk of accumulating losses is also equally higher. Therefore, you should choose a broker that offers leverage suiting to your needs and based on your style of trading.

Brokers often try to attract you by offering high capital bonuses when you make your first deposit. This is good because you get more money for trading. You can choose the broker that offers the highest first deposit bonus, but you should make sure other aspects discussed above and those that are discussed below suit your needs.

#6: deposits and withdrawals

It is important that you understand the brokers’ policies related to deposits and withdrawals. The features to be evaluated when choosing top forex brokers are minimum amount to be deposited to start trading, deposit methods offered, currency options provided, minimum withdrawal amount specified and waiting time for withdrawals, among others. Further, it makes sense to go through all other written policies in detail.

Brokers make money by charging a fee for each of the trading transactions that you execute on the forex trading platform provided by them. As far as the broker and you are concerned, the significant source of revenue would be the spread, the difference between ask and bid prices. It pays, therefore, to check as to how the brokers you have shortlisted handle spreads:

Do they offer fixed or variable spreads?
What is the average and maximum spread for the currency pairs that you are planning to trade?
What spreads are offered when the volatility is very high?
Do you have to pay any commission for each trade apart from the spread?

Before buying a car, you always go for a test drive. Similarly, look for forex brokers that offer demo accounts. This helps you to open a practice account. You can try out their platform and find out for yourself as to which of the shortlisted brokers is best suited to your requirements. Most brokers offer practice accounts these days. So, it is easy for you to get a feel of the brokers’ platform before committing to depositing money and trading.

#9: other parameters for identifying the best forex brokers

The forex brokerages that offer very low account minimums can be considered for evaluation under the category “best forex brokers”. This is good because you don’t have to deposit large amounts of money in order to trade forex. Minimum account balance can be as low as $5 in the case of some of the reliable forex brokers.

Online forex brokers often try to snatch business through promotions. Do not fall prey to their sales gimmicks. Best forex brokers would never make unbelievable and unachievable promotional offers. It is true that cash and prizes form part of the game, but they should be reasonable.

Another aspect to look for when evaluating online forex brokers is the educational services offered by them. This helps you to master the art of forex trading. Brokers that provide you with a variety of educational tools for assisting you in assessing the forex market are the best forex brokers to work with.

Why expert traders trade with regulated forex brokers

If you’re looking to become a successful forex trader, then working with a skilled and trustworthy broker is very crucial. In the forex market, the two main types of brokers you’ll get include the regulated and the non-regulated brokers. Obviously, the former typically operates under regulations stipulated by a forex regulator. Regulated forex brokers must also be fully licensed and registered in their country of operation, unlike their non-regulated counterparts.

Role of regulation

Of course, the role of regulation in forex market cannot be underestimated. Regulation ensures that all players in this booming industry are strictly supervised. This way, merchants are protected from the many unscrupulous traders out there looking to swindle them off their hard earned money. Another thing, regulation also builds trust between merchants and their brokers, since most merchants don’t have enough time to monitor every investment.
Let’s take a quick look at some of the leading regulatory agencies:

CFTC and NFA: commodity futures trading commission and national futures association, regulate the financial services sector in united states of america (USA).

Cysec: the cyprus securities and exchange commission is the regulatory watchdog within the cysec domain. It offers services to the EU member states.

FCA: the financial conduct authority regulates the operations of over 56,000 financial services and companies in the UK.

ASIC: the australian securities and investment commission regulate the financial services sector in australia.

FSB: the financial services board is a south african agency which oversees functioning, regulation, and licensing of south african forex brokers.

Bafin: bafin is a financial supervisory authority providing its services to forex companies in germany.

Advantages of regulated forex brokers

With regulated brokers, you’ll always have some peace of mind when carrying out your real-money transactions. To expound more, here are the main reasons why expert traders prefer regulated brokers:

1. Credibility

It’s an open secret that most of us like to deal with trusted organizations, especially when money is involved. That being said, the credibility of any forex broker is greatly enhanced if the company is regulated by the relevant agencies. Remember that all regulated forex brokers are mandated to follow some strict rules put in place by their respective regulatory bodies. Furthermore, their regulatory bodies expect them to regularly present a copy of their audit report. Therefore, if a broker is listed on its regulatory body list, then it’s safe to say that the forex broker has fully complied.

2. Compensation

Getting compensated in case of any unfortunate scenario is arguably the best reason why most expert traders opt for regulated brokers. With most regulated brokers, you can rest assured that all your hard earned money will be refunded in case your brokerage firm goes down. For example, brokers operating under cysec are required to remit their contribution to the ICF (investor compensation fund). This pool of funds is to help settle any form of customer claims in case of any eventuality.

3. Effective customer service

Before choosing a forex broker, it’s always recommended that you settle for one who can effectively and immediately resolve all customer issues. In this case, most regulated brokers are always competent enough when dealing with technical support or account issues. In addition, they are very helpful and kind during the whole account opening process.

4. Quick deposits and withdrawals

Any reputable forex broker will allow their merchants to make deposits and withdrawals without any hassle. A regulated broker should have no reason whatsoever to make your earnings process difficult because they don’t have control over your funds. All they have to do is to facilitate the platform to make it convenient enough for you to trade.

5. Updated trading platform

Most regulated brokers are mandated by their respective regulatory authorities to provide their clients with the latest, powerful, and easy-to-use trading platforms. In fact, most of their platforms will readily provide you with all that you need to begin trading immediately. You’ll get a lot of educational materials including webinars, videos, articles, seminars, and e-courses at no extra charge. It goes without saying that regulated brokers also offer their clients free demo accounts to help them sharpen their skills before going live.

6. Legality

All over the world, governments are struggling to deal with issues concerning money laundering. Some of them have even gone ahead to pass very strict anti-money laundering laws. So to be on the safe side, you should always trade with a regulated broker. Most regulated forex brokers will ask you to provide some of your personal identification documents such as proof of address and photo ID. This might sound tedious to you but it’s always safe to be part of a regulated organization that can prove your money is being used in a legal way.

To sum it up, regulated forex brokers are always the best as well as the safest option to trade with. This is because they are always ahead in terms of legality, security, and safety of your funds. All in all, you can manage your risks better if you opt for a regulated forex broker.

Understanding true ECN vs STP broker

The foreign exchange market, also known as currency market, is a universal decentralized market that provides traders an opportunity to trade currencies. It is a market which incorporates all aspects of buying, selling, and exchanging currencies at the present-day or determined rates.

There are different kinds of forex brokers that you can choose to trade forex with. However, though all the brokers in forex are intended to provide a similar basic solution, the way they operate behind the scenes is different. Different types of brokers have varying techniques of operation, and the specific broker you cooperate with can significantly determine your success rate as a forex trader. Here are some crucial factors that will enable you determine which broker between a true ECN and STP broker is the best one to trade forex with:

Understanding true ECN vs STP broker

True ECN i.E. Electronic communications network brokers operate without their individual dealing desk. These brokers provide an electronic trading platform where professional market makers at monetary organizations such as banks, and other online trading participants including traders can enter bids and offers through their particular systems.

STP i.E. Straight through processing brokers are brokers without a dealing desk also. These brokers apply some of the techniques utilized by market makers to provide their particular clients with trading conditions which are more flexible. By STP brokers hiring some of the tactics of market makers, they are able to bypass the limitations connected to trading exclusively within the interbank market.

General overview of true ECN and STP brokers

Use of scalping techniques

True ECN and STP forex brokers do not care about how much their particular traders make. Therefore, these types of brokers allow traders to utilize scalping techniques to close their respective positions. Note that false ECN and STP brokers cannot allow you to use scalping techniques as a trader since they will be disadvantaged anytime you make small profits.

True ECN and STP brokers are types of forex brokers without a say when it comes to control on spread provided. These brokers have no control on spread offered since it’s the liquidity provider that determines the spread which is to be provided.

Though true ECN and STP brokers can add markups when necessary, they cannot in any way take it further down than the amount provided.

Difference between true ECN and STP brokers

Commission charged

On true ECN accounts, as a trader you will be required to pay a fixed commission to open and close trades. The spreads offered on true ECN accounts are determined by the rates of liquidity providers.

When using STP accounts as a trader, you will not be required to pay any commissions.

Pros of trading forex with a true STP broker

Cannot bankrupt themselves

True ECN brokers cannot trade against their specific clients to bankrupts themselves.

Similar price rates

If you are a forex trader, trading with a true ECN broker means you are guaranteed of price rates that are similar to those of the interbank market.

Negative balance protection

As a trader utilizing the trading account of a true ECN broker, the broker will be accountable for any dues with liquidity providers should your account read negative as a result of any reason beyond their control.

Cons of choosing a true ECN broker

Dealing with a true ECN broker will require you to pay rollover fees and commission at times.

Pros of trading forex with an STP broker

Their rates and the interbank prices are same

They provide their clients low entry capital requirements

Cons of choosing an STP broker

Choosing an STP forex broker means when you enter a trade you’ll not be informed what spread to expect.

Most true ECN and STP brokers are linked to several liquidity providers at the same time period. Despite both true ECN and STP brokers having incredible trading solutions which can meet your needs as a trader, their terms of operation vary. Whether you will choose a true ECN or STP broker, the rule of thumb is always ensuring you minimize losses and maximize profits as much as you can when trading forex. Ensure you compare carefully the terms of service of both a true ECN and STP broker before you choose one to handle your trading needs.

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