Earn forex brokers

Participating in an affiliate programs entails attracting new clients. These clients must be willing to trade in forex.

Best forex bonuses

That’s how you’ll earn your bonus. Affiliate programs have different terms and conditions. Some will allow you to receive bonuses whether or not the client trades. Therefore, it’s great to check out the terms for your affiliate program and see how much you can get. Brokers do reward traders who place interesting comments on forex forums. You can also receive bonuses when you participate in forex opinion polls. Similarly, publishing articles and surveys about forex can earn you bonuses on your real account.

Fxdailyreport.Com

We are all aware that forex refers to a currency market where traders buy currencies and sell them. For a trader to earn some money at forex, they should have the currency of a country, which they can exchange for another country’s currency. As a result, a trader will either get a profit or loss.

In forex trading, you can decide whether to invest some money or trade without a deposit. Top forex brokers do provide a free no-deposit bonus to traders. In such a case then you can trade at forex with no money.

Whether you opt to trade with or without an investment, the truth is that each case has its own risks. This is true especially if you don’t have the necessary experience and knowledge on how to trade in forex. That is why you should learn some basics on how to start forex trading business with no money.

Forex has a daily trades amounting to 5.3 trillion dollars, making it the top fiscal market across the globe. This alone poses a great chance for traders to earn huge profits. Trading without an investment is risk-free in itself. This article is for anyone who desires to take this path.

Here’s how to begin trading in forex without money

How To Start Forex Trading Business With No Money

First, you must have a clear understanding that it is not possible to make high profits in forex with no investment. If you desire to be a serious trader and want to gain huge profits in the long-run, then you should open a trading account and deposit some money on it.

Nonetheless, you can still earn money at forex with no investment but the profit will not be as big. The best part with no investment trading is that you’ll not risk your money.

Trading forex is in itself risky – that’s why many people shy away from it. There are many scams assuring people that they can earn millions even if they have no capital investment. Don’t let these scams fool you – even a bit!

Luckily, you can earn money at forex without a deposit. The thing is that it will take a long time to accumulate as much as you would desire.

Forex trading with zero capital using demo accounts or with no-deposit bonus

Every reputable forex broker will give traders a chance to open new demo accounts. Such an account will let you use virtual currency to trade at forex. But you cannot withdraw this fund as it belongs to your broker, or you can try forex no-deposit bonus and you can withdraw if you make a profit.As an inexperienced and new trader, it is advisable you start with a demo account or no deposit bonus. If you so wish to take this path, then, just be aware that you can make a profit. But it’s a great starting point to learn how to trade when you invest real money.

Affiliate programs

Besides opening a demo account, you can trade using affiliate programs. This is a chance to make extra money in forex without trading as per se. Just select a broker and promote them. As a result, you’ll get a commission if you happen to attract people. This is a current trend for traders to earn money with no investment.

Participating in an affiliate programs entails attracting new clients. These clients must be willing to trade in forex. That’s how you’ll earn your bonus. Affiliate programs have different terms and conditions. Some will allow you to receive bonuses whether or not the client trades. Therefore, it’s great to check out the terms for your affiliate program and see how much you can get.

Once you attract a client, your broker will automatically transfer your bonus into your trading account. Here you have an option to withdraw the money or trade with it in forex.

Contests

Some brokers do arrange contests for real and demo accounts on a regular basis. Unlike other competitions, the ones in forex are simple. To become a winner, you must boost the income on your virtual account at least several times within the shortest period possible. As a result, you’ll receive money on your real account – as a reward.

Therefore, you can trade at forex with no investment. If you choose to trade using a demo account, then you should increase profits for a specific amount within a specific time period. And you’ll get a bonus on your real trading account.

So taking part in the contest can make you a great trader at forex even if you don’t have an investment. However, for you to be successful with demo contests, you must know how to trade with cryptocurrency pairs. Cryptocurrency is a great asset for a trader to earn high profits due to its volatility.

4. Posts, reviews, and comments on different information portals

Brokers do reward traders who place interesting comments on forex forums. You can also receive bonuses when you participate in forex opinion polls. Similarly, publishing articles and surveys about forex can earn you bonuses on your real account.

Apart from earning money, you can also gain reputation and experience same as that of a professional analyst. Brokers are willing to pay a lot for forex reviews. So you can take advantage and write them some damn good reviews.

The bottom line

Those who make an investment in forex are not the only ones who can gain profit. Even the ones with no money can too. Notably, though, if you want to earn huge amounts of money at forex you should invest money. On the same note, you should have the knowledge and experience of trading in forex.

Nowadays, people can trade with no capital at first and open real accounts later on. And with time, they become successful in trading. As a newbie in this field, it is advisable you begin the first step and proceed as you gain experience/knowledge.

Hopefully, you now have a clue on how you can start forex trading business with no money at all. You can use either of these options as a chance to gain experience on how to trade in forex without risking your money.

How forex brokers make money

In the foreign exchange market, traders and speculators buy and sell various currencies based on whether they think the currency will appreciate or lose value. The foreign exchange, or forex market is high risk and sees more than $5 trillion traded daily. Traders have to go through an intermediary such as a forex broker to execute trades. No matter the gains or losses sustained by individual traders, forex brokers make money on commissions and fees, some of them hidden. Understanding how forex brokers make money can help you in choosing the right broker.

Role of the foreign exchange broker

A foreign-exchange broker takes orders to buy or sell currencies and executes them. Forex brokers typically operate on the over-the-counter, or OTC, market. This is a market that is not subject to the same regulations as other financial exchanges, and the forex broker may not be subject to many of the rules that govern securities transactions. There is also no centralized clearing mechanism in this market, which means you will have to be careful that your counterparty does not default. Make sure that you investigate the counterparty and his capitalization before you proceed. Be vigilant in choosing a reliable forex broker.

Forex broker fees

In return for executing buy or sell orders, the forex broker will charge a commission per trade or a spread. That is how forex brokers make their money. A spread is a difference between the bid price and the ask price for the trade. The bid price is the price you will receive for selling a currency, while the ask price is the price you will have to pay for buying a currency. The difference between the bid and ask price is the broker’s spread. A broker could also charge both a commission and a spread on a trade. Some brokers may claim to offer commission-free trades. These brokers probably make a commission by widening the spread on trades.

The spread could also be either fixed or variable. In the case of a variable spread, the spread will vary depending on how the market moves. A major market event, such as a change in interest rates, could cause the spread to change. This could either be favorable or unfavorable to you. If the market gets volatile, you could end up paying much more than you expected. Another aspect to note is that a forex broker could have a different spread for buying a currency and for selling the same currency. Thus you have to pay close attention to pricing.

In general, the brokers who are well-capitalized and work with a number of large foreign exchange dealers to get competitive quotes typically offer competitive pricing.

Risks of foreign exchange trading

It is possible to trade on margin by depositing a small amount as a margin requirement. This introduces a lot of risk in the foreign exchange market for both the trader and the broker. For example, in january 2015, the swiss national bank stopped supporting the euro peg, causing the swiss franc to appreciate considerably versus the euro. traders caught on the wrong side of this trade lost their money and were not able to make good on the margin requirements, resulting in some brokers suffering catastrophic losses and even going into bankruptcy. Inexperienced traders could also get caught up in a fat finger error, such as the one that was blamed for the 6% dip of the british pound in 2016.

The bottom line

Those contemplating trading in the forex market will have to proceed cautiously—many foreign-exchange traders have lost money as a result of fraudulent get-rich schemes that promise great returns in this thinly regulated market. The forex market is not one in which prices are transparent, and each broker has his own quoting method. It is up to those who are transacting in this market to investigate their broker pricing to ensure that they are getting a good deal.

Best forex brokers – top 10 brokers 2021 in ukraine

How should you compare forex brokers, and find the best one for you? In our forex brokers reviews list, we have taken into account a wide range of ranking factors, from fees and spreads, to trading platforms, charting and analysis options – everything that makes a broker tick, and impacts your success as a trader.

The “best” forex broker will often be a matter of individual preference for the forex trader. It may come down to the pairs you need to trade, the platform, currency trading using spot markets or per point or simple ease of use requirements.

But we can help you choose…

Below are a list of comparison factors, some will be more important to you than others but all are worth considering. Details on all these elements for each brand can be found in the individual reviews.

Forex brokers in ukraine

How to find the best forex broker

The main criteria for finding the best forex brokers in ukraine 2021 are these – we will expand on each area later on in the article:

Trading conditions/fees – this is the most important part of your global forex broker appraisal. There is no way around that. One forex broker may charge you 10 times less for the same trade than another. Take note of “hidden” fees, such as withdrawals fees, or inactivity fees.

Market coverage – you need to be able to trade the fx pair or product of your choice/preference.

Accessibility and affordability – beginner forex traders and small-timers need love too. You should never be forced into making a minimum deposit that you cannot afford to lose. Minimum deposits range from $10 to $1000 (or the £ / € equivalent). It might be worth investing more for a platform that suits you better, so stay open minded.

Trading platforms – the forex trading platform and the tools it features are your primary weapons in your personal war for profits. Pick the one that suits you best. Remember many platforms are configurable, so they can be tailored to suit you. Personal preference will play a large part here, as many trading platforms offer very similar services, but look and feel very different. Is a mobile platform your priority, or a desktop web trading platform?

Mobile trading apps – being able to trade on the go may be important. Some mobile apps are superior to others. Ideally the mobile platform will function just as the web based version.

Deposits and withdrawals – you have to move funds to and from the broker, quickly and preferably cheaply. The deposit/withdrawal methods supported by the forex broker determine whether or not you can accomplish that. Financing an account may also require a specific payment method.

Reputation – people talk. It is well worth listening to what traders say about a forex broker they have already tried.

Regulation – when push comes to shove, legal recourse is your first, last and only hope to settle the problems you might have with your forex broker. A proper regulatory framework is preventive in nature. It aims to keep such problems from popping up in the first place.

Customer support – you need someone to talk to when you run into problems with your deposits, actual trading, or – god forbid – withdrawals. Competent support is a must. From opening an account, to help with the platform, customer support can be important.

Company background and history – knowing the past exploits of your forex broker can give you a better idea of what it is up to now. A listed company has to publish numerous elements of information about their balance sheet for example. You want peace of mind that your trading funds are segregated, and held safely and securely.

Education – it never hurts to improve your understanding of how the forex markets work and how you can make the most of the opportunities they present. Some brokers offer extensive educational tools.

Account opening / registration – is it a simple process to open an account? Do clients need to be verified? These processes are not always the same and might be worth considering if opening a trading account has been problematic in the past.

Broker costs

The services that forex brokers provide are not free. You pay for them through spreads, commissions and rollover fees. Low trading fees are a huge draw.

The fee structures differ from one forex broker to another, and even from one account type to another. There are two widely used basic setups.

The broker charges a spread only. All other fees – with the exception of the rollover rate – are included in the spread.

Besides the spread, a commission is charged as well. This commission is based on the amount you trade.

Spreads

Of these two forex broker fee arrangements, the second one is arguably the more transparent. That said, the commission/spread combination may not be the cheaper choice in every instance.

The spread can be fixed or variable. Fixed spreads are always constant. ECN broker may even deliver zero spreads. Variable spreads change, depending on the traded asset, volatility and available liquidity.

A currency market and spread go hand in hand.

Daily spreads may only differ slightly among brokers, but active traders (or even hyper active traders) are trading so frequently that small differences can mount up and need to be calculated to compare trading costs.

The lowest spreads suit frequent traders.

Some brokers focus on fixed spreads. There are indeed 1 pip fixed spread forex brokers out there too.

Forex brokers with low spreads are certainly popular. Do take commission and rollover/swap into account as well with such brokers though.

What is the rollover rate?

Forex positions kept open overnight incur an extra fee. This fee results from the extension of the open position at the end of the day, without settling. The rollover rate results from the difference between the interest rates of the two currencies. The first of the pair is the base currency, while the second is the quote currency.

Forex pairs traded

While most forex brokers offer impressive-looking selections of currency pairs, not all of them cover minors and exotics. Does the broker offer the markets or currency pairs you want to trade?

If you are trading major pairs (see below), then all brokers will cater for you.

If you want to trade thai bahts or swedish krone as the base currencies you will need to double check the asset lists and tradable currencies.

Majors

The aussie dollar ans swiss franc, while considered ‘minor’ pairs, are often traded in high volume. You can read more about those here: aud/usd or usd/chf

That said, there are brokers out there that will truly go out of their way to cater to their traders’ needs. Some will even add international exotics and currency markets on request.

Such flexibility is obviously a major asset, positively impacting the overall quality of the service.

What about crypto?

Cryptocurrency pairs are quite ubiquitous nowadays. Crypto/fiat and crypto/crypto pairings are both popular.

The massive volatility associated with these products makes scalping a viable strategy for profitable trading.

Some traders are in the forex game specifically to trade the crypto volatility. Such operators obviously need a forex broker that features as many crypto pairs as possible.

Micro accounts

Not everyone trades forex on a massive scale. In fact, many forex traders are small-timers. Such forex clients appreciate forex brokers’ micro accounts, some of which have the US dollar as their base currency.

Some forex micro accounts do not even have a set minimum deposit requirement. Such cheap trading options certainly make sense for those looking to dive deeper into real money trading, without risking their life savings.

Note however that the spreads/commissions on such micro accounts tend to be quite adverse.

It is however, a cheaper introduction to a complex market (similar to cfd accounts) – and trading for real beats a demo account for genuine experience learning how to trade.

Trading platforms

Forex trading platforms are more or less customisable trading environments for online trading.

They provide traders with technical analysis tools, live news feeds, diverse order types, automation, advanced charting and drawing options etc. Some may include sentiment indicators or event calendars.

Metatrader 4 or 5

Integration with popular software packages like metatrader 4 or 5 (MT4 or MT5) might be crucial for some traders. Many brands offer automated trading or integration into related software, but if you are going to rely on it, you need to make sure.

Trading view

Tradingview is also a popular choice. Some forex brokers allow their traders to trade directly on the world’s top social trading network.

Proprietary solutions are often interesting, though in some cases less than optimal. For traders who base their strategies on the use of eas and VPS, a proprietary platform that does not support such features, is useless.

While we are discussing strategies: not all forex brokers support strategies such as hedging, scalping and eas.
Make sure you understand any and all restrictions in this regard, before you sign up.

If you want scalping, see if your broker is a forex broker for scalping.

For those who want to trade on the go, a mobile trading app is obviously important. While all forex brokers feature such apps these days, some mobile platforms are very simplistic.

They lack all the advanced analysis and market research features, and as such, are hardly useful.

Tools & features

From charting to futures pricing or bespoke trading robots, brokers offer a range of tools to enhance the trading experience.

Again, the availability of these as a deciding factor on opening account will be down to the individual.

Level 2 (or level II) data is one such tool, where preference might be given to a brand delivering it.

Deposits and withdrawals

There are some massive disparities between the costs associated with deposits and withdrawals from one broker to another. Such disparities mostly result from the internal procedures observed by different brokers.

At one given broker, it can take as much as 5 times longer to fund an account than at another. The incurred costs differ quite a bit as well.

Otherwise, the payment process largely hinges on the accepted money transfer methods.

It would make sense for brokers to adopt as many such methods as possible, yet some still fall well short of the mark.

Education

Some traders may rely on their broker to help learn to trade. From guides, to classes and webinars, educational resources vary from brand to brand.

A broker however, is not always the best source for impartial trading advice. Consider checking other sources too – such as our trading education page!

Payment methods

The most common methods are bank wire, VISA and mastercard. The majority brokers tend to accept skrill and neteller too.

Forex brokers with paypal are much rarer. The same goes for forex brokers accepting bitcoin.

We are not talking about bitcoin trading, but actual deposits made in the top cryptocurrency.

Proper forex brokers always provide a local-specific payment solution to their target countries.

Customer feedback

Based on actual user feedback, forex broker reputation can best be gleaned from various community review sites and forums.

You have to take this type of feedback with a grain of salt, to say the least.

First of all: disgruntled traders are always more motivated to post feedback. They are not likely to be unbiased.

Secondly: not all of this feedback is factually correct. Furthermore, there is no way to actually fact-check/verify this data. Even sites like trustpilot are blighted with fake posts or scam messages. There is no quality control or verification of posts.

That said, it is still relevant. If there’s a forex broker about which no one has ever said anything good, chances are it might have issues. To the trained eye, genuine trader reviews are relatively easy to spot.

The utter lack of community feedback is red flag as well. People always have something to say about their forex broker or trading account. Therefore, something is definitely amiss if there is no information available in this regard.

Regulation

Regulation should be an important consideration if trading on the forex market. Whether the regulator is inside, or outside, of europe is going to have serious consequences on your trading.

ESMA (the european securities and markets authority) have imposed strict rules on forex firms regulated in europe. This includes the following regulators:

ESMA have jurisdiction over all regulators within the EEA

The rules include caps or limits on leverage, and varies on financial products. Forex leverage is capped at 1:30 (or x30). Outside of europe, leverage can reach 1:500 (x500).

Traders in europe can apply for professional status. This removes their regulatory protection, and allows brokers to offer higher levels of leverage (among other things).

Outside of europe, the largest regulators of trading accounts and brokers are:

These cover the bulk of countries outside europe. Forex brokers catering for india, hong kong, qatar etc are likely to have regulation in one of the above, rather than every country they support.

Some brands are regulated across the globe (one is even regulated in 5 continents). Some bodies issue licenses, and others have a register of legal firms.

So to reiterate, an ASIC forex broker can offer higher leverage to a trader in europe.

Offshore regulation – such as licensing provided by vanuatu, belize and other island nations – is not trust-inspiring. Beyond a nominally available dispute-resolution system, such regulatory coverage offers you no protections.

Regulators such as ESMA (european securities and markets authority) generally frown upon bonuses.

Forex brokers not affected by ESMA can afford to give you potential extra value through promotions. Those same ESMA rules are also why some brands are duty bound to display warnings about CFD trading creating a “risk of losing all your money“.

Security

Most brands will follow regulatory demands to separate client and company funds, and offer certain levels of user data security.

Some brands might give you more confidence than others, and this is often linked to the regulator or where the brand is licensed.

A worthy consideration. Some regulators will set a higher benchmark than others – and being registered is not the same as being regulated.

Account security also differs among brokers. Some may offer the additional layer of protection of 2FA (two-factor authentication) to ensure only you have access to the account.

Demo accounts

Try before you buy. Most credible brokers are willing to let you see their platforms risk free. Trading on a demo account or simulator is a great way to test strategy, back test or learn a platforms nuances.

Try as many as you need to before making a choice – and remember having multiple accounts is fine (even recommended).

FX leverage

For european forex traders this can have a big impact. Forex leverage is capped at 1:30 by the majority of brokers regulated in europe. Assets such as gold, oil or stocks are capped separately.

In australia however, traders can utilise leverage of 1:500. That makes a huge difference to deposit and margin requirements. Australian brands are open to traders from across the globe, so some users will have a choice between regulatory protection or more freedom to trade as they wish.

Just note that higher leverage increases potential losses, just as it does potential profits.

Company history

A proper regulatory agency will not think twice about handing out cease and desist orders to dishonest brokers. It will also likely blacklist them.

This practice creates a sort of online trail, an operational history of sorts, highlighting the past sins of currently “reputable” forex brokers.

What’s interesting about this history is how little exposure it receives. You actually have to scour the archives of regulators to happen upon such relevant bits of information.

Bonus

From cashback, to a no deposit bonus, free trades or deposit matches, brokers used to offer loads of promotions. Regulatory pressure has changed all that.

Bonuses are now few and far between. Our directory will list them where offered, but they should rarely be a deciding factor in your forex trading choice.

Also always check the terms and conditions and make sure they will not cause you to over-trade. Many have time limits or turnover requirements.

Additional account details

When comparing brokers, there are also other elements that may affect your decision. These will not affect all traders, but might be vital to some.

Order execution types

Once you click the “open trade” or “enter” button in your trading interface, you start a rather intricate process. Your broker uses a number of different methods to execute your trades.

Exactly which method it uses for a particular trade will be reflected in the price you pay for it. Some brokers only support certain order execution methods. For instance, your broker may act as a market maker and not use an ECN for trade execution.

If you are looking for this method specifically, you will need to seek out an ECN forex broker.

Ecns are great for limit orders, as they match buy and sell orders automatically within the network.

Some other options that your forex broker can use are:

Order to the floor. Mostly used for stocks. This execution type is handled manually, through actual trading floors/regional exchanges. It is therefore extremely slow.

Order to third market maker. This execution type involves a third party, which is a market maker. This party is the one handling the order.

Order to market maker. This method is essentially the same as the above one. The market maker handles trade execution. Some market makers pay brokers to send them orders. Thus, your order may not end up with the best market maker.

Internalization. When using this method, the broker matches the order from its own inventory of assets. This execution method is therefore extremely fast.

Order execution is extremely important when it comes to choosing a forex broker. It also goes hand-in-hand with regulatory requirements.

Broker reporting

Both ESMA and the US’s SEC require brokers to report the quality of the execution their services provide. Regulators aim to make sure that traders get the best possible execution.

Mifid II sets clear guidelines in this regard. Online forex brokers are required to submit data concerning their execution methods as well as execution prices on a trade-by-trade basis.

This may seem tedious, but it is the only way to head off fraud. The prices are compared to the public quotes. If the broker executes trades at better prices than the public quotes, it has some additional explaining to do.

If it routes the trader’s order through a less-than-optimal path, it has to disclose this fact to the trader.

These examples yet again showcase the importance of a proper regulatory background.

Account types

From cash, margin or PAMM accounts, to bronze, silver, gold and VIP levels, account types can vary. The differences can be reflected in costs, reduced spreads, access to level II data, settlement or different leverage.

Micro accounts might provide lower trade size limits for example.

Retail and professional accounts will be treated very differently by both brokers and regulators for example. An ECN account will give you direct access to the forex contracts markets.

So research what you need, and compare it to what you are getting.

Scams

Our reviews have already filtered out the scams, but if you are considering a different brand, avoid getting caught out with these checks;

Were you ‘cold called’? Reputable firms will not call you out of the blue (this includes emails, or facebook or instagram channels)

Are they offering unrealistic profits? Just stop and consider for a minute – if they could make the money they are claiming, why are they cold calling or advertising on social media?

Are they offering to trade on your behalf or use their own managed or automated trades? Do not give anyone else control of your money.

If you have any doubts, simply move on. There are plenty of legitimate, legal brokers.

With all these comparison factors covered in our reviews, you can now shortlist your top forex brokers, take each for a test drive with a demo account, and select the best one for you.

We have ranked brokers based on our own opinion and offered ratings in our tables, but only you can award ‘5 stars’ to your favourite!

Read who won the daytrading.Com ‘best forex broker 2021‘ on the awards page.

Difference between A broker and A market maker?

A broker is an intermediary. Its primary (and often only) goal is to bring together buyers and sellers. By matching orders, hopefully automatically, without human intervention (STP), a broker fulfils its task. For this service, it collects its due fees.

A market maker on the other hand, actively creates liquidity in the market. It always buys and it always sells, acting as a counterparty to traders. Should your forex broker act as a market maker, it will in effect trade against you.

The conflict of interest in this setup is obvious, but it does happen.

The bottom line

Hopefully, you now understand some of the methods we’ve used to create our forex brokers ranking list.

Picking the right broker is no easy task, but it is imperative that you get it right. While we can point you in the correct general direction, only you know your personal needs. Take them into account, together with our recommendations.

Forex broker reviews

Use this table with reviews of the top forex brokers to compare all the FX brokers we have ever reviewed. Note that some of these forex brokers might not accept trading accounts being opened from your country.

If we can determine that a broker would not accept your location, it is marked in grey in the table.

Best forex brokers in cyprus 2021

With so many forex brokers located inside cyprus, how are you meant to choose the best one for you? With the competition this fierce the only way to truly know what’s what is by referring to the fxempire list of best cyprus brokers. Our list is built from research conducted by us and by user feedback.

The brokers below represent the best forex brokers for trading in cyprus.

MT4, MT5, proprietary, webtrader

Dealing desk, DMA, market maker

76.4% of retail CFD accounts lose money

ASIC, cysec, FCA, FSB, ISA, MAS

76.4% of retail CFD accounts lose money

82% of retail CFD accounts lose money

75% of retail CFD investors lose money

Market maker, no dealing desk, STP

75% of retail CFD investors lose money

FP markets

Headquarters : level 5, exchange house 10 bridge st sydney NSW 2000, australia

FP markets was founded in 2005 and is regulated by the australian securities and investments commission (ASIC), offering segregation of client funds and top tier liquidity. FP markets is a group of companies that includes first prudential markets ltd which is authorised and regulated by the cyprus securities and exchange commission.

FP markets also offers a range of education and market analysis resources through the traders hub which includes technical analysis and fundamental analysis articles and videos, as well as, trading ebooks and video tutorials. Users can access live support via telephone, email and live chat 24 hours a day, 5 days a week.

Bdswiss

Headquarters : apostolou andrea street 11, hyper tower, limassol, cyprus

Bdswiss was founded in 2012 and offers trading accounts regulated under the mauritius financial services commission and the cyprus securities and exchange commission.

Users can trade on more than 250+ financial CFD instruments covering forex, commodities, cryptocurrencies, indices and equities, on 3 account types called classic, VIP and raw on the metatrader 4 and metatrader 5 trading platforms and the broker’s own bdswiss web trader and bdswiss mobile app.

The broker also offers educational events via live analysis and educational webinars and seminars, as well as a beginner to advanced courses in its trading academy. Users can also access autochartist and live trading alerts via telegram, depending on account type. Customer service is offered 24/5.

Plus500

Regulated by: ASIC, cysec, FCA, FSB, ISA, MAS

Headquarters : building 25, MATAM, haifa, israel

76.4% of retail CFD accounts lose money

Plus500 is a leading CFD trading platform with support for stocks, indices, cryptocurrencies, and forex. This commission-free brokerage charges very low spread-rates and offers fast trades on a great platform. Plus500 supports complex trades, includes negative balance protection, and makes trading an educational and hopefully profitable venture.

You can start with a free demo account to test the platform and any trading strategy. Real money accounts offer leverage of up to 1:30. This broker is based in israel and regulated by the financial conduct authority (FCA) in the UK.

Regulated by: cysec, FCA, FSC

Headquarters : 30 churchill place, london, E14 5EU, UK

82% of retail CFD accounts lose money

FXTM, short for forextime, is a platform with a primary focus on foreign exchange. That specialization allows it to rise above many others when it comes to forex focused trading platforms and tools. Cfds are available on 50+ currency pairs including major, minor, and exotic pairs. Leverage is available up to 1000:1.

Spreads are competitive across all platforms with 24-hour trading open 5 days per week. FXTM is based in cyprus and licensed by the international financial services commission (IFSC), cyprus securities and exchange commission, and other regulators in and out of the EU. A free demo account is available.

Etoro

Regulated by: ASIC, cysec, FCA, mifid

Headquarters : kanika international business center 7th floor, 4 profiti ilia street germasogeia, limassol, cyprus

75% of retail CFD investors lose money

Etoro is an online trading platform that was founded in 2007 by the assia siblings and their friend david ring in tel aviv, israel. Formerly known as retailfx, etoro is the pioneering online broker for social trading. Their openbook social trading platform in fact changed the nature of the way beginner online traders can trade the financial markets. It made the markets accessible to everyone, no matter what their level of experience by creating a user-friendly environment and allowing traders to copy the trades of other traders’ strategies automatically.

General regulation & cyprus regulation

Cyprus is the home of the forex brokerage business in europe as companies have taken advantage of the tempting business environment provided by the government there. To ensure that all forex brokers operating in cyprus maintain globally accepted standards which ensure protection of investors, the cyprus securities and exchange commission (cysec) was formed. Apart from providing regulation of the local stock market, cysec also regulates and licenses all forex brokerages in cyprus (classified as cypriot investment firms or cifs) as well as staff of these brokerages. Cysec maintains a register of licensed cifs as well as cifs that have been sanctioned. Cysec also administers a certification proficiency exam for staff of cifs to ensure that those who work in these firms understand the regulatory environment of the forex market in cyprus and have the required proficiency to handle forex brokerage needs of clients of the firms in which they work.

As a member state of the EU that is a signatory to the mifid protocol, cyprus also recognizes appropriately regulated forex brokers located in countries which are signatories to this protocol. Therefore, forex traders in cyprus are not restricted to using just cysec-regulated forex brokers.

Trading platform & software

As a forex trader, you will benefit from the opportunity to use various turnkey and proprietary trading platforms, spread across hundreds of forex brokers. Many brokers will offer you the opportunity to trade with web-based software, downloadable trade terminals and mobile trading software. Brands covered include the MT4/MT5, ninjatrader, jforex, acttrader, ctrader ECN platforms, etc.

Commissions & spreads

Cyprus forex brokers who function as market makers do not charge commissions on forex trades. However, cyprus forex brokers who operate the ECN model charge commissions on forex trades. Both categories of forex brokers charge commissions on CFD trading. The usual business model for cyprus forex brokers is to charge a spread on all assets traded. The spread here varies with the asset, and typically starts at 0.5 pips for the most liquid currency pairs.

Account types

Some cyprus forex brokers will offer several account types to ensure that the needs of all categories of forex traders are met. Accounts are usually of the following types, even though the names may differ:

Mini account – great for the beginner trader with a low deposit requirement and minimum lot size to be traded

Standard or gold account – often the most popular account type because of its conducive conditions and optimized trading terms

Premium or VIP accounts – usually reserved for the high volume or professional trader. The benefits are usually better than the other account types but minimum deposit starts from around $20,000.

Customer service

The customer service desk bridges the geographical gap between forex traders and forex brokers. Since everyone who trades forex cannot physically visit the broker, it is essential that cyprus forex brokers highly efficient and knowledgeable customer service. Customer service is usually provided in english and other widely spoken european and asian languages such as french, spanish, german, portuguese, arabic and mandarin.

Additional services

Some cyprus forex brokers will provide the following extra services:

Forex VPS services

Social trading

Is forex trading legal in cyprus?

Yes it is, it’s legal and highly regulated too.

Does cyprus regulate forex trading?

Cyprus regulates and licenses forex brokers as well as the personnel working in these brokerages.

Can cyprus forex traders trade with brokers in other EU countries?

Yes, if those brokers are mifid compliant which means that the brokers can passport their services across the whole of the eurozone.

Here is a list of recommended cyprus forex brokers that meet our conditions of reliability, service delivery as well as regulatory requirements.

Conclusion

It is highly recommended that cyprus forex traders use only cysec regulated or mifid regulated forex brokers. This ensures that the forex brokers used are those who will segregate accounts and place the customer in a compensation scheme in case anything goes wrong.

Best forex IB (forex introducing broker) 2021

Bestforexib.Com is your one- stop place to help you find, compare and research all forex IB (forex introducing broker) and partner program in 2020!

Forex introducing broker or forex affiliate is a partnership program offered by forex brokers which allows individuals or businesses to earn revenue by referring traders to forex brokers, partners will start receiving commissions when referred clients open an account and start trading in real market. Becoming an introducing broker is simple and straight- forward, learn all about forex ibs right now, right here.

Rebate - up to 50% of spread

IB rebate - up to 6$ per lot

Rebate - up to 80$ per lot

For forex ibs, regulation and reliability of broker is as if they are hitting two birds with one stone, here’s how: forex ibs are definitely going to have a higher rate of success in attracting clients to forex brokers that are regulated, because regulations will provide a more secure and safe environment for clients' trading activity; then again, ibs are here for prompt crediting of commissions as well as fast withdrawals, this is not going to be smooth unless a fully regulated & trusted broker is in place.

Most forex partnership programs come with certain limitations and restrictions, some strict and some easy to go with. They are set by brokers either to reduce IB commissions or to push ibs to attract more clients. At times, if such requirements are not met, IB commissions won’t be available for withdrawal. Without a doubt, this is not appealing to introducing brokers, fortunately there are fine brokers with the least or no limitation at all in order to grab all the benefits.

4 important factors to consider before choosing your introducing broker

. Forex IB commission types and definitions .

Receive a fixed rebate per each lot traded by your referred clients

Receive a variable rebate based on your clients trading volume

Receive rebates from traders attracted by other ibs you've introduced

Receive rebates from traders referred by multi- level attracted ibs

Get a fixed commission amount once your client signs up and trades

Receive a percent of the profits made by your referred clients

- latest ibs promotions & special offers

FBS ipartner contest - top 3 winners will win apple devices (imac, iphone & ipad)

- newest brokers IB programs added

Join upcoming forex expos

Meet ibs, partners & brokers

Forex industry is now bigger than ever with many more brokers popping up, and not every broker will lead you to success in forex partnership. Your forex broker reputability is one of the most important factors in driving more clients and making more commissions. A well- known brand name with its solid history will turn your forex partnership career into a very profitable business with less effort. Moreover, ibs & partners of reputable brokers will rapidly boost their conversion rate.

Forex ibs success in attracting and maintaining clients is largely dependant upon trading conditions & trading products of the broker. Among the most competitive trading conditions are lowest spreads, trade execution speed, number of trading instruments in various markets (forex, stock, futures, metals) and trading products such as trading platforms, mobile trading, depositing\withdrawal methods and additional tools provided for traders to improve their trading experience.

Before diving into how much forex ibs earn, let’s get the facts straight:

Online FX trading is one of the most profitable businesses on the web.

Forex is 24/7 - always trending and trading all over the world.

Traders have access to trade financial markets forex, cfds, stock & metals

Forex partners receive lifetime revenue from all their referred clients

In online forex industry, brokers pay real high commission to partners

Forex ibs earn fast - from the very first trade of their very first client

Forex ibs & partners commissions earning is as follow:

Forex ibs commission amount can be fixed or variable (depending on the type of partnership program), here we go with fixed amount (commission per lot) which is the most common type with standard trading accounts:

Let's assume that your broker offers 10$ commission per lot for each trade of your referred client (s).

You have attracted as low as 5 clients who opened\funded standard trading accounts and made the following trading activities during one month :

Top 10 best forex brokers with bonus and promotions for 2021

Top rated:

Are you on the lookout for the best forex brokers with bonus and promotions to offer?

They can be tricky to find, but if the answer is yes, then you are certainly in the correct place. Here we will give you all of the information you need, not only on the top recommended brokers if you are looking for a bonus, but also what these promotions mean, and how they can best work to your benefit as a trader.

With that in mind, let’s take a closer look at the best brokers we have found that can offer bonus and promotions to you as a trader.

Are these bonuses really free money?

Although it may be hard to believe at first, it is true. The bonuses really are free money that is sent to your account by the broker. Now what is often asked is, can I withdraw these bonus funds?

Generally, the answer is yes with most top brokers. Their policy will vary though and in many cases, there are certain trading criteria that you must meet in order to withdraw the bonus funds from your account.

What should I check when choosing a bonus?

There are a couple of very important steps that you must run through when checking the bonus that you should choose, and the broker who is providing that bonus.

First off, it is vital that you read the terms and conditions carefully, so you know exactly what is on offer. Added to that, it is important to consider the whole offering of a broker. This means not only the bonus amounts, but what else they have to offer such as spreads, minimum deposits, and more.

Please note that the following bonuses may not be available in every country, and that brokers are not allowed to offer these to customers based in the EU or UK due to local regulatory restrictions. Read T&C before applying to a bonus.

Top 9 forex brokers with bonus and promotions

Here are the top 9 forex broker bonus and promotion offers we have found available:

1. FBS

FBS is the first broker to make our listing for having some of the top promotions and bonus offers in the industry. They are well-known as being a very respected broker around the world, and they have a huge amount of bonuses on offer.

At FBS you can win a wide range of prizes from holidays to new cars, and you can also double your deposit with the great FBS 100% deposit bonus they have in place. An FBS no deposit bonus is also available at no-risk at all to your funds as well as a cashback bonus if certain conditions are met. The FBS bonus offering continues to grow and expand with many contests and challenges also available where you can win cash, trips, and VIP event invites. They also run contests directly on social media like facebook where all you need to do is share posts with your friends. These are just some of the reasons why FBS is a top bonus broker for all traders.

XM is another top international broker, and one of the most easily recognizable in the industry. They too offer a strong range of bonuses and promotions. These start with an excellent $30 no deposit bonus which you can use for completely risk-free, real money trading.

Beyond this you will also find a deposit bonus of up to $4500 which means your deposit will be matched by the broker with free money up to this high value. Aside from those regular types of bonus offerings, XM also runs a lucky draw which has a huge total value of $1,000,000. As a regular trader with the broker you can also join their loyalty program which is points based. You can redeem these points through your trading actions to obtain a wide range of great benefits with the broker.

Please note that these bonuses may not be available with every XM entity

3. Instaforex

Instaforex is the next broker to make the top list of brokers providing bonuses and promotions. They too are very well-trusted by a broad range of traders across the industry. They start their bonus offering with one of the very best no deposit bonus offers in the sector. This is the instaforex $1,000 no deposit bonus.

Further to this monster bonus offer, the broker also provides a deposit bonus of 30% so you can always receive an additional 30% on top of your initial deposit as risk-free bonus funds to trade with the broker. Added to this, instaforex makes a huge range of contests and challenges available where you only need to have a demo account to participate and win. Here you can win a great range of physical prizes including cars, money, and much more.

4. Fxopen

The next broker on the list offering top promotions and bonuses is fxopen. They kick their bonus offering off with a $10 no deposit bonus. This is great if you are new to trading and looking to try out the broker with no risk at all to your own money.

Another great offer for beginners is the $1 welcome bonus on micro accounts. This makes sure you are covered to trade with free money, even at lower risk levels. Like many of the other brokers they also provide access to a large number of trading contests with a unique prize attached. This prize is that if you reach a certain benchmark of profit in the contest with virtual funds, they will then turn 10% of these funds into real money for you to trade with. A very attractive bonus proposition indeed from this popular broker.

5. Roboforex

Roboforex are in on the act too as another respected top broker offering bonuses and promotions to their traders. The excellent bonus infrastructure here starts with a deposit bonus that can be either 10%, 60%, or a huge 120% depending on how much you are depositing.

The offers do not stop there with roboforex either. Just for joining the broker, you will be entitled to a $30 welcome bonus. This can be used for completely risk-free trading on the markets of your choice. You will also be entered into weekly and monthly contests which are free to enter but where you can win real prizes on both demo, and live accounts. Regular traders are not forgotten either with cash rebates stretching up to 15% based on how much you trade.

6. Hotforex

Hotforex are one of the cornerstones of the industry and regularly feature as a top broker in many listings. They too have a very strong bonus infrastructure though it may not be available in every country the same. This is particularly true in europe.

Outside of that though, their offer is strong. They provide a number of unique bonuses the first of which is a 100% credit bonus. This acts to double your deposit with completely free bonus funds. They also offer a very unique 30% rescue bonus. This bonus protects your funds from drawdowns up to $7,000. The 100% supercharged bonus is one of their most popular though. This provides for a huge amount in cash rebates that can reach up to $8,000, on top of a 100% deposit bonus. All of these great offerings maintain hotforex as a very popular bonus broker of choice.

Please note that these bonuses may not be available with every XM entity

7. Octafx

Octafx is another popular, and rapidly growing name in the sector. They are not stepping back when it comes to offering a bonus either. If you are trading with this broker, the first thing you may want to try out are some of the demo account contests.

These great contests come with prizes of up to $500 real cash if you are trading through metatrader, and $150 if you are using ctrader. If these pique your interest, then you can decide to deposit for real, and benefit more from a 50% deposit bonus which is on offer. On top of this, there are many other prizes including merchandise to be won from a broker who is strong, trusted, and growing all the time.

8. FXTM

FXTM is one of the biggest names in the industry. They have also not forgotten a strong bonus infrastructure, and for this reason, they too feature on our list of the best brokers for bonus offers and promotions.

At the core of the FXTM bonus offering is their excellent loyalty program. Here, the more you trade, the more you can get paid. At the maximum level you have the ability to earn as much as $10,000 from the program. Also offered by the broker are a great range of both demo and live trading contests where you can compete against your fellow traders to win top prizes.

9. Vantage FX

Vantagefx is next in our selection of the best forex brokers who offer a good range of bonus systems. Here you will be able to take advantage of a 50% deposit bonus that will allow you to trade risk-free with bonus cash from the broker based on how much you deposit.

Vantagefx also offers a great and very rewarding loyalty program where you can avail of 10% rebates on your trades up to $2 per lot traded when you deposit at least $1,000. With the broker and this program, there is no limit on the trade size at all. The higher the lot size you trade, the higher your bonus will be.

Different type of bonuses

When choosing your forex broker bonus, it is also important to keep in mind that there are many different bonus types available. Here is a more detailed look at exactly the kind of bonuses that are offered by brokers:

Forex deposit bonus: the forex deposit bonus is a certain amount of money offered as a bonus based on the amount which you deposit. In the case of many brokers, this can mean matching your deposit amount with an equal bonus amount.

Forex no deposit bonus: A forex no deposit bonus, as you might gather from the name, is a bonus which is offered to you with no deposit required. In most cases, you simply have to complete the registration process. This money is free and can be used in real trading at no risk to your own money.

Welcome forex bonus: the welcome bonus can be similar to a no deposit bonus. You will get a bonus money amount for completing registration, and in some cases based on the amount of your first deposit.

Loyalty program: A forex broker loyalty program, just like any other, is usually based on how much you use the service. In this case, the more you trade, the more you will be rewarded by such programs. These rewards could come in the form of lower trading costs, additional premium trade tools, physical prizes, access to live events and meetings, and much more.

Points system: the forex broker point systems can also be based on loyalty programs. With these systems, the more you trade, the more points you will earn. These points can then be used to access monetary prizes, cars, vacations, and more.

Cash back and rebates: cash back and rebate programs are also a very common form of bonus. Just as the name suggests, with this form of bonus, you can earn money back for each lot you trade.

Money protection bonus: this is not a very common form of forex broker bonus, though it exists, nonetheless. This kind of bonus from your broker actually protects your funds from reaching a certain negative level, and in some cases, anything beyond this negative point can be refunded.

Forex contest prize: there are a wide range of brokers who organize contests which you can participate in with virtual funds against other traders. If you win some of these contests through making the most profit from virtual funds, then you can win all kinds of great prizes including cash, cars, and more.

Why do brokers offer forex no-deposit bonuses and other bonuses?

There are several reasons why your broker may offer a no deposit, or other type of bonus. One of the primary reasons for this is to create value for you as a trader, and to attract new traders to the industry and that broker.

This method is accepted in many parts of the world, though not in europe. Within the EU, the offering of the majority of these kinds of bonuses is not allowed by the regulator. ESMA does this in a large part to protect beginners from getting involved in trading without the proper knowledge and ultimately losing their money.

Tips on how to choose a bonus and a broker

If you are thinking about choosing a forex broker, the bonus is just one element of this choice, and it should not be a large factor in your decision-making process. First and foremost, you have to choose a broker who is trustworthy, and well-regulated. Luckily all of the brokers on our listing are both of these things.

Once you have done this, then you can think about the bonus they are offering, but do not make your choice based on the broker bonus alone. You have to consider all of your trading needs. In this case, you may want to try out a broker first. This would be a great time to select a no deposit bonus broker so you can try out their real trading at no risk to you.

10 rules of how to earn money with scalping

The forex, stock and futures markets provide a platform where an individual can invest their capital for the long-term, like a 401(k). Some traders do indeed treat these markets this way, but there’s a different breed of trader who is only interested in making as much profit as they can and step away – the scalper.

Unlike traders who invest their money hoping to see their returns grow over time, scalping involves making numerous trades every day, often tens of trades or even hundreds. Furthermore, a scalper won’t hold onto a trade for a long time, instead closing out these positions within minutes or an hour at most.

It is a really intensive trading strategy that has the potential to earn the trader huge profits by combining the small profits collected throughout the day. Still, it is not a very popular choice among most traders either because of the intensity or the seemingly meagre profits earned from each trade, but it can actually be quite profitable.

Many traders earn huge profits from scalping, but there are still losers just like with any other trading strategy. The key is to master the basic rules of scalping which will help you make money.

1. Minimize the use of indicators

Trading indicators used by technical analysts and advisors are great for informing a trader of any opportunities that may present themselves in the near future. Some of the most popular indicators include:

Relative strength index (RSI)

Bollinger bands

Moving average convergence divergence (MACD)

Moving averages – exponential and simple

Stochastic indicator

Then there are other ‘exotic’ indicators and trading instruments which some traders swear by, although they are not so common such as:

Ichimoku kinko hyo

Fibonacci retracement

All forex trading platforms will have these indicators and more, totalling to more than 50 trading indicators. As a trader, you would want to double check every trade before placing it, so it would be tempting to add as many indicators as you can, and then you end up with a cluttered workspace filled with indicators.

This is never advisable, for any kind of trader, but when you’re scalping the market, this will end your trading career very quickly. As a scalper, you want to catch any minor trends or shifts in the market, which means you need to make quick decisions. Inasmuch as indicators are useful, having too many of them will cause an overload of information, and before you can place a trade after interpreting every single indicator, the trend you were looking for will be gone.

While there are some scalpers who trade without any indicators at all, this is also not advisable. Instead, you need to have 1 or 2 indicators which you have tried and tested, 3 in the maximum, and put your faith in just those. Do not second-guess yourself by adding on more indicators to your workspace.

2. Use lower stakes

Given the number of trades a scalper makes in any single day, it is paramount to lower the amount of margin dedicated to any single trade and minimize risk. The common rule is never to risk more than 2% of your initial deposit on a single trade, so a $1,000 account holder should not place any trade that is above $20 in margin.

First, this limits the hit an account can take if the trade goes south. It also allows the trader to place multiple trades at a time without infringing on the margin requirements, even if the trading account has a small capital. By keeping low stakes, the scalper can keep trading even if they make a few losses along the way, otherwise, they would receive a margin call and that can quickly lead to the account being wiped out.

3. Minimize losses

As a scalper, you will probably make a lot of trades in a day, and the truth is that not even the best traders in the world have a 100% success rate. The key to earning good money with scalping is to minimize your losses, on the losing trades you make.

There are several ways to do this, but most important is never to forget using a stop loss and keeping it close to the bid/ask price. On a long position, the stop loss should be just below the previous swing low, while on a short position, it should be just above the previous swing high. The swing low is the price at which the markets bounced back up while the swing high is the opposite, check the figure below to understand this better.

Besides scalping, placing the stop loss very close to the bid/ask price is not advisable since the trend may shift after a day or two, but a scalper does not have this luxury. For a scalper, the idea is to close out a losing trade as soon as possible with minimal losses and move on to the next trade.

4. Master specific strategies

Unlike swing trading or other forms of long-term trading whereby the trader can switch up their trading strategies from one trade to the next, you shouldn’t do this when scalping. Imagine placing tens of trades in a single day without any specific strategy, that would be chaos, wouldn’t it? You would have no idea which strategy worked, which one didn’t, and it would be impossible to tell what went wrong that made you lose money.

This is why scalping is not meant for amateur traders, but seasoned traders who have tested and mastered specific strategies which have worked out for the best. Before scalping any market, test your strategy in a demo account which is always offered by the broker, and then apply your strategy to your trading day. The most profitable scalpers will have 2 or 3 strategies which they repeat all through the day, and they enjoy significant profits as a result.

Some of these strategies could involve a mastery in:

Candlestick patterns

Use of indicators

Trading on financial news announcements

5. Select the appropriate timeframe

On all forex charts, there is an option to select which timeframe you would prefer to trade on, which can be as small as a minute up to months or even years. This option is not useless, but is provided by the forex broker to cater to all trading styles. As we have already seen, scalpers make tens of trades every day, so the longer timeframes are of no use.

The maximum recommended timeframe for a scalper is the 1-hour chart, but you will make more use of the 1-minute, 5-minute and 15-minute charts. The 1-hour chart, and perhaps the 4-hour and daily charts, should be used only to confirm the trends since trends from the previous day may affect the present day.

6. Keep an eye on financial announcements

If you compare fundamental and technical analysis of the forex market, you will quickly see that scalpers are mostly technical analysts. However, this does not mean that, as a scalper, you should disregard any data or information on the economic calendar forex, you should actually be aware of any major financial news announcements.

The only difference between you and a purely fundamental analyst is that, as a scalper, you won’t have to wait for the news to break before placing your trades. The knowledge of certain financial news only guides you on which currency pairs, stocks or futures to trade, but it doesn’t directly affect your trading day.

For example, if the federal reserve (FED) chair janet yellen is about to announce changes to the united states’ fiscal policies, you might want to be a bit more careful with any trades involving US dollar pairs or US stocks. Such news announcements can cause the markets to break away from the direction your trading instruments were pointing at. It might cause support and resistance levels to be crossed, perhaps, causing you to be stopped out.

To be clear, I’m not saying that scalpers should avoid these financial crises caused by news announcements because they can be very profitable, but only if you are on the right side of the trend.

7. Choose your preferred market

Scalping is not limited to forex trading alone, but this trading strategy can be used to trade stocks and futures as well. Each of these instruments will have its own unique advantages and disadvantages, and you only have to choose which best suits your trading strategy.

Scalping the forex market

Scalping is most suited to the forex market because it is a 24-hour market and the trader can trade continuously for hours. Besides, there are plenty of currency pairs to scalp from, and this is exactly what a scalper needs in order to place numerous trades simultaneously.

Scalping the futures market

The futures market has recently become a 24-hour market, and this can give a scalper the opportunity to trade throughout the day. The futures market also offers very tight spreads, which is a great advantage to any scalper.

Scalping stocks

The stock market will not offer the scalper a 24-hour trading period since the stocks can only be traded during the trading session of that company’s location. For example, twitter stocks can only be traded between 9:30AM and 4:00PM eastern time when the NYSE is open. However, the stock market still has high liquidity, and it may suit a certain kind of scalper.

8. Control the number of simultaneous trades

The beauty of scalping is that you place numerous trades with low stakes, leaving you with plenty of free margin to place more trades. That and the goal of placing as many trades as possible can push a scalper to place many trades running simultaneously at any given time. There is nothing wrong with this, but you should try to limit the number of trades you have depending on your capital. If you have a huge capital, you can place as many trades as you want provided your margin level percentage is still reasonable.

Another thing to remember is never to place more than 3 simultaneous trades based on one currency. For example, you should not make more than 3 trades that each have the US dollar as the base currency. If you do so, and for some reason the US dollar performs contrary to what you had predicted, then all those trades will be losers, and that will create a huge dent on your capital. Therefore, if you’re going to place multiple simultaneous trades, make sure you have a variety of currency pairs.

9. Select markets with the lowest spreads

The spread is the difference between the bid and ask price, which is why all trades will begin from a negative return. The idea behind scalping is to make small profits, but from tens or even hundreds of trades. However, it is difficult to make a profit within a short timeframe if the spread is too wide. This ECN brokers list is a good start at identifying the brokers with the tightest spreads.

The most popular markets will usually have the tightest spreads, and the most popular markets are usually US dollar crosses like the EUR/USD, USD/JPY, USD/CAD, GBP/USD, etc. Exotic pairs like the USD/NOK, USD/TRY, etc. Have a much wider spread and will start off your trade at a huge negative position. This wouldn’t be a problem for a long-term trader, but a scalper should avoid these exotic pairs like a plague.

Be wary of brokers who have very tight spreads but charge a commission on every trade, too. Scalping is all about making very small profits, and a commission levied on these profits can lead to losses rather than profits.

10.Get in an ideal frame of mind

A scalper is not the kind of trader who places a trade and goes on vacation or goes to the kitchen for a snack. You will need to be at your computer, staring at the forex charts continuously for hours. During this time, you will need to be completely focused on your trading and put away any distractions. Do whatever you need to do before starting your trading day to get you focused, I personally prefer music, but you should do whatever makes you most attentive.

You should also prepare yourself for losses and mistakes, every trader makes mistakes and losses, so prepare yourself psychologically to take it in stride. Most of the traders who make huge losses are usually pushed by having a wrong state of mind whereby they place trades without proper consideration to try and make up the losses. In every loss is a lesson to be learnt, so take the loss and take note of what you did wrong, but don’t deviate from your strategy.

FYI on scalping

Now that you know the basic rules, you should know that some brokers do not tolerate scalping, and they may even penalize you if you place more than a certain number of trades in a day. Remember to enquire about this when choosing a forex broker, so you can know what you’re in for. Or, you can check out our list of reputable scalping forex brokers to make your search easier.

To see how scalpers make money, watch this video of a scalper in action:

so, let's see, what we have: fxdailyreport.Com we are all aware that forex refers to a currency market where traders buy currencies and sell them. For a trader to earn some money at forex, they should have the currency of a at earn forex brokers