What Is Forex Automated Trading? How Does It Work On MT4 & MT5?

Forex Automated Trading

Automated trading has become a norm rather than the expectation due to the forex market’s ever-increasing speed and liquidity. It completely contrasts manual trading, which is prone to emotional biases. Automated trading systems have the ability to operate 24/7 and make trading decisions that are entirely based on market data. This makes them a great choice for trading professionals who may remain ahead of the curve and profit from market opportunities by utilising the most recent technologies. Let’s get into the details to learn more about this strategy!

What Is Automated Trading?

Automated forex trading is an intriguing technique to trade the forex markets as it allows traders to enter and exit trades without requiring physical participation. It involves using specialised software and tools to evaluate market trends and carry out trades following established parameters. Since automated platforms respond quickly to the opportunities, traders may gain a competitive edge in the market.

How Does Forex Automated Trading Work?

Algorithms lay the foundation of automated trading. These algorithms are a set of clearly-defined instructions or rules that govern the decision-making process for entering and exiting trades. To develop the right algorithm for your automated strategy, you need to have sound programming skills, but that’s not enough unless you have exceptional knowledge about the market and a solid strategy for placing trades. And once you have both, you can probably win the trading game. However, it doesn’t hurt to extensively test your forex bot to optimise its performance in live trading conditions.

If you are a novice trader who is far from programming, you can buy ready-made automated trading systems, as plenty of them are available for purchase.Read More

A Complete Guide To Copy Trading Forex & Crypto CFDs

copy trading forex

Copy trading is a revolutionary option that has been gaining popularity since its inception in the late 2000s. Its appeal lies in its ease of use, making it a great choice for novice and seasoned traders. While copy trading strategy is most frequently used on the Forex market, it may also be used on other markets like equities and cryptocurrencies. Today, we will explain online copy trading, the several ways to replicate deals, and whether or not this novel trading strategy is profitable.

What is Copy Trading?

Copy trading is a revolutionary concept in the world of trading that has changed how people invest in financial markets. With a copy trading platform, traders can use their own experience and knowledge to make trades. Instead, they can copy the trades of more experienced investors, allowing them to profit from their knowledge and success.

It’s the best choice for less seasoned traders who lack the expertise or abilities to assess the markets independently. They can pick up tips from more seasoned traders and use such strategies in their own trading plans.

It involves duplicating the trades made by a pro trader, and since investors may put money into certain traders rather than specific assets, the method is sometimes referred to as a people-based kind of investment.

It’s crucial to remember that copy trading has its own set of benefits and dangers. Like with any investment, there is always a chance of losing money, even while it can be a great method to make money. Also, traders must be careful when selecting their copy trading platform and copy trader, ensuring they are both licenced and reputable.

Basics of Copy Trading

By enabling less experienced traders to benefit from the knowledge and experience of more seasoned investors, copy trading has changed the world of trading. These traders might rely on the abilities of a more experienced professional trader because they need more time to keep up with the market themselves. Copy trading is frequently utilised in swing and day trading methods and is typically geared towards short-term trading. The cryptocurrency and forex markets are where the practice is most prevalent.

In copy trading, the trader whose trades are copied is compensated with a fixed fee or a share of the profits generated by the accounts that follow him. A copier, follower or a subscriber is a trader who copies other traders’ trades. Originally, copy trading was done manually by traders who would manually execute the exact orders as the copy pro trader they were copying their trades from. The trades are executed on the copied account after obtaining indications from signal providers. Read More

The Ultimate Guide to Setting Up Your MetaTrader 4 Trading Account

MetaTrader 4

MetaTrader 4 or MT4 is one of the first names that you hear while exploring the forex market as a trader. With over 10 million users worldwide, MT4 is still popular for traders in the dynamic forex market. With its intuitive user interface, advanced charting capabilities, and automated trading options, MT4 has become the go-to choice for traders looking to enhance their trading experience. However, setting up an MT4 trading account can be daunting for beginners, and even experienced traders can need help with the process. This guide will walk you through setting up an MT4 trading account and provide tips to optimise your account settings to maximise your trading potential.

What Is Metatrader (MT4)?

MetaTrader 4, commonly known as MT4, is a popular electronic trading platform retail forex traders use worldwide. Developed by MetaQuotes Software, it was first released in 2005 and quickly became one of the most widely used platforms in the forex industry.

MT4 provides traders with a comprehensive set of tools for technical analysis, including customisable charts, a range of indicators, and the ability to create and test automated trading strategies using its built-in programming language, MQL4. The platform also offers a wide range of order types, including market, limit, stop-loss, and trailing stop orders, which allows forex traders to manage their trades through a single interface.

One of the key features of MT4 is its ability to support trading through multiple brokers. MT4 also supports mobile trading, allowing traders to access the platform and their accounts on the go using their smartphones and tablets. Check out the best forex commission calculator here.

Another popular feature of MT4 is the ability to use Expert Advisors (EAs) to automate trading strategies. EAs are programs traders can create or purchase that automatically execute trades based on pre-set conditions. This allows traders to backtest and optimise their strategies before deploying them in the live market and can help to remove emotion and bias from trading decisions.

Overall, MT4 is a powerful and flexible trading platform that has become a standard in the forex industry. Its extensive range of features and ability to customise and automate trading strategies have made it a popular choice for novice and experienced traders. Read More

What Is White Label Forex? What Are Its Benefits & Drawbacks

White Label Forex

The forex white label programme is an excellent choice for business owners or organisations wanting to enter the brokerage business. The benefits of the white label Forex program are numerous and far-reaching. By opting for the white label route, you can save significant time and money. It allows you to swiftly launch your company by utilising current technology and infrastructure rather than creating a trading platform from afresh.

What Is White Label Forex?

The white label programme is a brokerage solution allowing you to purchase a pre-made trading platform and back-office panel customised to your business. This implies that you alter the platform’s look and feel, add your brand logo, and provide your customers with a special user experience.

In addition to branding, the white label programme offers necessary components, including client management, exposure management, trading instrument setup, and leverage settings. With the help of these tools, you can control your customers’ trading activity, manage their portfolios, and keep an eye on their performance in real-time.

Moreover, the white label programme occasionally also comes with a liquidity arrangement. As a result, you will have access to a pool of liquidity providers that will give you the funds you need to execute transactions on behalf of your clients. By leveraging the white label program, entrepreneurs can establish themselves in the Forex market more quickly and effectively while minimising risk and maximising their chances of success. Read More

Understanding PAMM/MAM Accounts – Similarities As Well As Differences

PAMM MAM Accounts

Managed forex accounts provide a practical, affordable method to engage in the fascinating and dynamic world of currency trading. Whether you are an individual investor trying to diversify your portfolio or a money manager wishing to expand your investment options, managed forex accounts assist you in achieving your objectives and maximising your results. Let’s explore the subject further to learn more about managed accounts.

What Are Managed Forex Accounts?

Managed accounts are a popular choice for investors who want exposure to the foreign exchange market but don’t want to invest much time and energy in currency research and trading. As the name suggests, these are trading accounts managed by a professional trader. Investors may gain from the knowledge and experience of someone who has spent years evaluating market patterns, assessing economic data, and placing trades by hiring a professional money manager.

The biggest perk of managed accounts is that they benefit both the investor and the manager. The accounts may be tailored to each investor’s unique requirements and preferences. While developing a customised investment plan, money managers can work with clients to assess their risk tolerance, investment objectives, and time horizon.

This is great for those wishing to include a currency component in their portfolio but needing more specialist foreign exchange trading skills. These investors may gain exposure to the currency markets without bearing the risk and complexity of trading themselves by giving this task to a qualified forex manager. On the other hand, money managers can earn additional income by managing other traders’ accounts.

What Is MAM

The MAM account is a unique master trading account that enables traders to handle several accounts simultaneously. It is the perfect option for individuals looking to organise their trading processes and effectively manage several portfolios.

Unlike other managed accounts, MAM account forex has set lot allocations, allowing money managers to sub-allocate transactions in a way that suits their preferences. This offers more flexibility and enables investors to customise their investments based on their accounts’ size and risk tolerance. Moreover, MAM accounts provide investors total control over their trading activity, enabling them to change or stop trades whenever they choose.

What Is PAMM

PAMM accounts have revolutionised the way investors approach managed accounts, offering a unique solution for those looking to diversify their trading capital and minimise risk. Percentage

Allocation Money Management, or PAMM, enables investors to designate a portion of their trading money to duplicate trades from a master account.

In contrast to other managed account types, forex PAMM accounts allow investors to select from various trader accounts, each with its trading strategy and risk profile. This allows investors to successfully hedge against any performance issues resulting from losses in particular master trading accounts by allocating various percentages of their trading money to various trading systems. One of the key advantages of PAMM accounts is that they allow investors to pool their funds together, leading to lower transaction costs and greater trading power.

Difference Between MAM & PAMM

MAM (Multi-Account Manager) and PAMM (Percentage Allocation Money Management) accounts are two popular types of managed accounts that offer unique solutions for investors and traders. Although traders may manage many accounts at once with MAM and PAMM accounts, investors should be aware of some significant variations between these two types of accounts.

  1. How MAM and PAMM accounts manage the distribution of funds is one of the key distinctions between them. Traders can assign fixed lot sizes to various accounts using MAM forex accounts, whilst investors can assign a portion of their capital to a certain trader or trading strategy using PAMM accounts. As investors may change their allocations to various trading methods following their performance, PAMM accounts provide greater flexibility in terms of risk management.
  2. The degree of control investors have over their accounts is another significant difference between MAM and PAMM accounts. Investors have little control over the trades conducted on their behalf while using MAM accounts since traders have complete control over their accounts. In contrast, investors have more control over their accounts and may change or cancel transactions whenever they choose with PAMM forex accounts. Because of this, PAMM accounts are a better choice for investors who desire more sway over their trading activity.
  3. Another important factor to consider when comparing MAM and PAMM accounts is their level of transparency. MAM accounts offer higher levels of transparency, as traders can monitor their accounts in real-time and receive regular reports on their performance. PAMM accounts, on the other hand, may offer less transparency, as investors may need more visibility into the specific trades being executed on their behalf.

Advantages & Disadvantages of Managed Accounts

The Advantages Of Managed Accounts Are As Follows:

  • The foreign currency market offers many options for profitable trades in a fast-paced, constantly-evolving environment. For new traders who are still getting to know the ins and outs of the forex market, keeping up with the market and spotting the greatest trading opportunities may take a lot of work. Here’s where managed FX accounts come into play. Investors may benefit from the 24/5 market cycle and harness the enormous potential of the forex market by hiring a professional money manager instead of devoting all of their time and resources to trading. Investors can concentrate on other areas of their lives while continuing to gain from the possible gains that the forex market might provide.
  • Investors may learn a lot about forex trading and investing methods by working with a professional money manager. The knowledge and experience of seasoned managers may be invaluable in helping investors build their portfolios and make educated decisions.
  • Managed FX accounts allow investors to manage their holdings and choose when to buy or sell. Setting a stop loss level, which tells the pamm or forex mam brokers to cease replicating the trader’s transactions on your account if the account falls below a specific level, is one of the fundamental components of the PAMM method. This guarantees that your investment won’t be lost and protects your cash during drawdowns. Investors may minimise risks and increase possible gains in the forex market by exercising this degree of control.
  • The fact that investors just need to deposit money with the broker is another fantastic feature of FX-managed funds. The fund manager shouldn’t ask that money be transferred to a private bank account. This is so that the PAMM/LAMM/MAM systems, which rely on a letter of power of attorney, can allow the trader to trade on your behalf but not to withdraw or move your money. By adhering to these rules, investors may guarantee the safety and security of their assets in the forex market.

While Managed Accounts Can Be Beneficial, There Are Also Some Drawbacks.

  • You might have less control over your investments than you would want, which is one of the drawbacks. This could cause you to feel frustrated or anxious. Also, you might develop a different competence and understanding in forex trading than you would if you did it yourself.
  • Depending on the terms of the contract, you can be subject to limitations on how much money you can access or withdraw after investing it in a managed FX account. When you withdraw your money before a particular amount of time has passed, fines or fees can be attached. Also, the performance fees levied by management companies might diminish your overall return on investment and chip away at your earnings. When investing in a managed FX account, it is crucial to weigh these points carefully.


What is a managed FX trading account?

A managed forex trading account is an investment account that is managed on behalf of the investor by a professional trader or group of traders. The account manager charges a performance fee for their services and can make trading choices on the investor’s behalf.

What is the process for managing an account in Forex?

When you opt for a managed forex trading account, your invested capital will be traded by an account manager who trades other investors’ capital, buying and selling currencies. They are authorised to exercise discretion over the funds, making all the decisions without consulting you before trading. Typically, they will levy a performance fee, which implies that they will only receive a payment if they generate profits for you.

How can I deposit money into my managed forex account?

You can fund your MAM PAMM account by depositing money into your brokerage account. This can be done by providing your credit card information through any payment options. Based on your broker, the funds will be available in about 2-5 business days.

A Beginner’s Guide to Islamic Forex Accounts

Islamic Forex Accounts

The first and foremost requirement for attaining profitable results in trading has the most suitable and favourable trading conditions to carry out the process easily. You won’t be able to get the desired outcome unless you get to trade with the most favourable conditions on your account. Every trader may have different requirements for the trading conditions that they would prefer on a personal level. Hence, forex brokers provide different types of trading accounts as options to their users, and traders can choose the perfect match for them. Islamic forex accounts are also one popular account used by Muslim traders worldwide.

Let’s learn more about Islamic forex accounts in this comprehensive beginner’s guide that promises to answer all your doubts and queries about Islamic forex trading.

What Is An Islamic Forex Account?

An Islamic Forex account, also known as a swap-free account, is a type of forex account designed for Muslim traders who wish to participate in currency trading while adhering to Islamic principles. According to Islamic law, or Shariah law, charging or paying interest, or “riba,” is strictly prohibited. This is because interest is seen as exploitative and contrary to the Islamic concept of fairness and justice.

In the case of a normal or regular forex trading account, swap rates or rollover fees will be charged at a specific time at night, which is decided by the broker you trade with. The trader will pay the swap for long trade positions, and the broker will pay the swap for short positions to the trader. This means that you will be earning the interest instead of paying it. But the incidence of interest, both as a payer and a payee, is a major sin per Islamic finance principles. Therefore, no interest is charged or paid on positions held overnight in an Islamic forex account.

Instead, in Islamic forex accounts, the trader pays a fixed fee, which is predetermined when the account is opened. This fee is usually higher than the interest rates charged in conventional forex accounts. The service fee allows the broker to make money while still adhering to the Islamic principles of fairness and justice. The fee to compensate for the loss of swap or interest charges is also called an administrative fee. It is charged regardless of whether the position held overnight is profitable.

This fee will differ for different trading instruments and change based on the duration a trade position is kept open overnight. This type of fee is permissible as it is not a form of interest. Basically, a Muslim trader using a regular trading account will have to close all their positions before night to avoid riba. But for, Islamic forex accounts can freely open trades longer without worrying about violating the Shariah law.

How To Open An Islamic Forex Account?

  1. Find A Reputable Broker: The first step to opening an Islamic forex account is to find a reputable broker that offers such accounts. They are also known as Islamic forex brokers or halal forex brokers. Many top-tier forex brokers offer Islamic trading accounts, but it’s important to do your due diligence and research the broker thoroughly to ensure they are trustworthy and reliable.
  2. Provide Required Documentation: Once you have selected a broker, you will need to provide the required documentation to open an account. This may include a copy of your ID, address, and income proof. The broker may also require additional documents to comply with regulations.
  3. Request An Islamic Account: After verifying your documentation, you can request an Islamic forex account from your broker. The broker may require additional information about your religious beliefs and practices to ensure you qualify for an Islamic account. Once approved, you can trade in forex markets without paying or receiving any interest, in compliance with Shariah law.

How Do Trading Conditions Differ In An Islamic Forex Account?

  1. Interest-free Trading: In an Islamic Forex account, trading conditions are designed to comply with the principles of Islamic finance. Thus, interest-free trading is a key feature. Forex trading typically involves paying or receiving interest on positions held overnight, but such interest is not applied in Islamic Forex accounts. They have made the accounts swap-free by adding a fixed fee to make up for the cost of maintaining a position without a swap.
  2. Halal Trading: In an Islamic Forex account, trading is considered Halal, meaning it is permissible under Islamic law. This is because the trading conditions are designed to comply with the principles of Islamic finance.
  3. No Hidden Charges: Islamic Forex accounts usually do not have any hidden charges. All charges and fees are clearly stated upfront, so traders know what they are paying for.
  4. Compliance With Islamic Finance Principles: Islamic Forex accounts are designed to comply with the principles of Islamic finance. This includes ensuring that all trading activities are based on ethical and moral principles and that all transactions are transparent and fair.

What Can I Trade With An Islamic Account?

The Halal forex brokers usually offer a variety of trading instruments for different asset classes, including forex and other CFDs for stocks, crypto, commodities etc. You can trade several major and minor currency pairs for forex, but some brokers may restrict trading with exotic currency pairs. Because exotic currency pairs tend to be too volatile and risky and may not align with the principles of Islamic finance as the rules imply staying away from financial activities which involve excessive risk or uncertainty. So, you must check with your broker to know which instruments can be traded on their forex demo accounts.

Advantages & Disadvantages of Islamic Accounts


  1. Compliance with Sharia Law: Islamic forex accounts are designed to comply with Islamic Sharia law, which prohibits interest-based transactions. These accounts do not charge interest or swap fees, ensuring the trades are Sharia-compliant.
  2. No Riba (Interest): In Islamic forex accounts, no interest is charged or paid on overnight trades. This eliminates the element of riba (interest) that is prohibited by Islamic law.
  3. No Time Limitations: With Islamic forex accounts, traders can hold their positions unlimitedly without incurring any rollover fees. This is because Islamic accounts do not charge any swap fees.
  4. Transparency: Islamic forex accounts are transparent, and traders can be confident that their trades are being executed in compliance with Islamic Sharia law.
  5. Access to Markets: Islamic forex accounts allow Muslim traders to participate in the forex market without violating their religious beliefs.


  1. Added Fees: Islamic forex accounts often have added fees compared to regular forex accounts. This is because brokers offering Islamic accounts must compensate for the lack of swap fees.
  2. Limited Availability: Not all forex brokers offer Islamic forex accounts. This limits the options available to Muslim traders who wish to trade in compliance with Islamic Sharia law.
  3. Limited Trading Strategies: Islamic forex accounts may limit the types of trading strategies that traders can employ. This is because certain strategies like carry trading involve interest-based transactions that are not Sharia-compliant.
  4. Higher Initial Deposit: Some brokers may require a higher initial deposit to open an Islamic forex account than a regular one.

In conclusion, opening an Islamic forex account is suitable for Muslim traders who want to engage in forex trading while adhering to their religious beliefs. With an Islamic forex account, traders can avoid interest-based transactions and ensure their trades comply with Shariah law. However, it is important to choose a reputable broker who offers genuine Islamic accounts and to carefully review the terms and conditions before opening an account. With proper research and understanding of the principles of Islamic finance, traders can effectively participate in the forex market while staying true to their religious values.

Beginner’s Guide to MT5 Trading

Each and every person with an interest in trading must have heard about the MetaTrader platform. MetaTrader 4 and Metatrader 5 happen to be the most widely used trading platforms on a global level. MetaTrader 5 or MT5 is the advanced successor of the classic MT4 trading platform. The developers of MT5 have done their best to ensure that each and every trader transitioning to the MT5 platform gets a better and superior trading experience. But they also have retained the simplicity and user friendliness of the former version as that made the MetaTrader suite a popular choice among traders in the first place. With this article, you will get a complete beginner’s guide to MT5 trading as we will be drawing a one-on-one comparison between MT4 and MT5, the process of downloading and using MT5, advantages, downsides, adding indicators and trading on MT5.

How to Start Trading with MetaTrader 5 (MT5)?

The first step to start trading with MT5 is opening an MT5 account. For first time users, it is better to practise with a demo account first before getting into actual trading. You can choose to make an account on MT5 directly without a broker for demo trading but a broker is a must when you move forward with live trading. So, it is recommended you opt for a broker of your choice even for demo trading as it will be good to test the trading conditions beforehand. You just have to find a suitable broker who offers MT5 for trading and will be able to download the MT5 version integrated with the broker platform. You can request for login credentials from the broker and can easily log in to your MetaTrader 5 demo account.

Once you download and login to the platform, you can see the intuitive interface loaded with all essential trading tools which can be easily accessed with the main menu bar. You will see tabs like file, view, insert, charts, option, and help. You are free to customise and personalise your trading environment as per your preference. There are certain shortcuts in MT4 & MT5, which make trading a whole lot easier. . You are free to customise and personalise your trading environment as per your preference. Take your time and experiment with all tools until you get used to the advanced trading terminal. You can also see a built-in toolbar right below the main menu where you will find duplicate commands and functions for the main menu which can also be customised as and when needed. You can easily change the chart types, time frames and more for your convenience.

Coming to the chart, you can see the market watch on the left side where prices of all your chosen trading instruments will be displayed. You can also see some other details such as contract specifications on this section. One important feature you can access here is the one-click trading option. Right below the chart, you can see a toolbox to keep track of all your open positions, pending orders and more. You can cancel or modify the orders from here itself. This multi-functional window will also give you some other useful information which might come handy for trading. This includes account history, alerts, news, internal mailbox, expert journals and more. Read in article more about metatrader 4 download.

Placing an order on MT5 is just as easy. Go to the market watch window and right click on the financial instrument that you have chosen for trading. Select the new order and then specify the order type and fill in all the information that is required. Then your order will be placed once you click ‘place’. The simplicity is still there which is what makes MT5 appealing to newbie traders.

MetaTrader 5 Vs MetaTrader 4

Like mentioned before, MetaTrader 5 is an upgraded version of the MetaTrader 4 trading platform. A comparison of MT5 and MT4 will be essential to understand why MT5 can be better for you as a trader and how it differs from its predecessor.

  • MT4 is often considered as a primary forex trading platform whereas MT5 was introduced as a multi-asset trading platform for forex, stocks, indices, crypto and more.
  • MT4 has 30 in-built indicators, whereas MT5 has 38 indicators.
  • MT4 has 31 graphical objects but MT5 has 44.
  • The number of timeframes in MT4 is limited to nine, meanwhile MT5 has 21 timeframes. ‘
  • MT4 offers 2 market orders and 4 pending order types. MT5 has 2 market orders, 6 pending orders and also offers stop orders in addition.
  • MT4 is still the most widely used platform in comparison to MT5. Most brokers will be providing an MT4 integrated trading platform for clients but brokers who provide MT5 functionality are less in number.
  • MT4 is still very popular and used by novice and experienced traders alike. It is quite an apt choice for a traditional trader. Whereas, advanced traders prefer MT5 due to its larger fleet of tools and a solid UI.

So, based on the comparison one can conclude that MT5 is a perfect match for a modern trader as it comes with many advanced tools and additional features that are not there in MT4. But an old school trader may still prefer MT4 due to its basic design and limited set of tools.

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Learn to Use a Trading Calculator With Ease

Any beginner trying to step into the forex market would get intimidated with the vast amount of knowledge that they are required to learn for becoming a forex trader. This includes many fundamental concepts, technical terms and some basic yet complex calculations.

Calculations are a must for getting the desired outcome in any task. When it comes to forex trading, calculations are crucial as they will determine your trading results in the end. You can do these calculations manually using a regular calculator but that will surely take a lot of time and effort. But a trading calculator can perform these calculations with greater ease and in no time.

What is a Trading Calculator?

A trading calculator is used for performing various calculations that are essential for forex trading. Previously, traders had to perform these calculations manually on their own. And for someone who is not experienced enough in trading, doing all these calculations before every trade can be a tiring task. Also for experienced traders, the chances of errors will increase when there are large figures involved in calculation for fast paced trading. So, keeping these things in mind many brokers started to provide a built-in forex trading calculator on their online platform for users. These online forex calculators are free to use and are a part of the trader’s toolkit as well. This tool can be used to save the time and effort that would be required for doing these calculations manually. Read more detail here nas100 calculator.

How Does a Forex Trading Calculator Work?

A forex trading calculator works by using and applying the same basic mathematical functions but combining them with the technicalities of forex so that a trader gets the results that can be directly applied to his/her trading activity. A trading calculator will be often divided into different calculators to perform specific functions as and when needed. So, when you check the trading tools on your broker’s platform, you will see a bunch of different forex calculators with a brief description about its usage.

This includes position size calculator, lot size calculator, pip calculator, profit calculator , margin calculator and more. Using them is quite simple once you are well-versed with the technical terms. You just need to enter the values and specify the details in the calculator and it will be returning you accurate results instantly.

What Are the Advantages of Forex Trading Calculators?

The first and foremost thing that one has to do for profitable trading is coming up with a well-defined trading plan or strategy. But just planning or devising the perfect strategy is not enough to get the desired results. You will have to pay utmost attention to the execution part, in order to make sure the strategy you chose for trading is being followed with every step you take. Deviating from a strategy or trading plan will also lead to deviation in trading results. Read in article more about commission forex calculator.

The role of a trading calculator is simple yet crucial here. Because the price at which you enter a trade, your exit plan, margin levels and many such details can have a huge impact on your end results. You will be risking your trading capital in the process of trading. Hence, even a small mistake may cost you a lot when it comes to forex trading. As mentioned earlier, manual calculations have greater possibility of errors and such errors can have a negative impact on your trading performance as a whole.

Thus, using a trading calculator one can make sure that they don’t make any mistakes in the calculation part of trading. They can leave the calculation process to the online forex trading calculators and focus on other aspects of trading instead.

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A Beginner’s Guide To Forex Brokers

forex brokers

Taking your first step into the forex market is always a challenge in itself. Understanding the functioning of the market and getting a grasp of the trading concept and technicalities surely take some time. But one crucial decision that you have to make as a beginner is choosing the right forex broker. This decision will have a major influence on your trading journey and experience as a whole. So, you need to consider several options and variables before opening a trading account with a forex broker. Today, you will be able to educate yourself about forex brokers and the role they play in trading by reading this beginner’s guide.

What Is a Forex Broker?

We do hear the term forex broker a lot while trying to explore the forex space. But many of us may not have a clear idea about what it actually means and why they are important for trading with satisfaction. So, this is a basic question that needs to be answered before moving forward. In simple words, a forex broker is an intermediary between the forex trader and the forex market. You cannot access the forex market without opening a forex trading account with a forex broker of your choice.

But the forex broker is much more than a middleman in the trading process. They will be functioning as a connecting link between liquidity providers and retail traders which is essential for a smooth trading experience. They will be working in the background to make the currency pairs available for trading at best prices. They will also be charging a fee for this service in the form of spreads and commission. The forex broker integrates a popular trading platform to their website, enabling the users to trade directly through the broker platform.

The forex broker is also in-charge of handling your funds or trading capital. You will be placing trades through the trading account registered with the forex broker. Hence, you will be trusting them with your hard earned money. So, this sums up the relevance of finding a reliable forex broker as the trust factor is very much needed to engage in trading activity.

Regulated Vs Unregulated Forex Brokers

Now another term that we often hear in relation to forex brokers is regulation. There are basically two types of forex brokers: regulated and unregulated. Regulated brokers are the ones who are registered with a regulatory body with a valid licence to function as a forex broker. The regulated body will be keeping an eye on the broker to ensure that they are operating within the legal boundaries. They also have to meet the criteria set by the regulatory bodies for earning and maintaining the licence throughout. That is why many traders tend to look for regulated brokers to carry out their trading activities as they are safer in comparison.

On the other hand, an unregulated or offshore forex broker is not regulated by any such authority or regulator body. They are independent and are not answerable or obliged to meet the requirements set by forex regulatory bodies. But this does not mean that they are illegal or cannot be trusted. Many forex traders prefer to trade with offshore brokers as they tend to be more flexible in some aspects. But for a beginner with no prior knowledge or experience in the forex market, opting for a regulated broker would be more ideal in our opinion. However, you are free to choose any broker that suits you as a trader and can proceed after ensuring that they are legit irrespective of the regulatory status. Read More