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Forex Markets

Written by ForexCult Team
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Forex Markets When it comes to the forex markets, you want to make sure that you protect yourself. If you do not protect yourself in the forex markets, you may find out the hard way that you are going to fail at the forex markets and that is something that you don’t want to do, you want to be able to succeed in the forex markets so that you will have something to be proud of as well as something to make you a lot of money. However, in order to make money you are going to have to take the time to familiarize yourself with the forex markets. In this article, I am going to give you some information on the forex markets and I want you to make sure that you take the information that I give you very seriously. Before Entering the Forex Markets Before you actually consider trading currencies, you should make sure that you take a notion to actually observe a couple of things. The first thing that you should consider is that when it comes to forex traders, all of the forex traders are prone to lose money on trades. I am not talking about one trader; I am talking about all of them in general. If you take the time to look into the forex markets, you will see that actually around ninety percent of all traders will lose money at some point and time and it is normally because of the actual lack of planning as well as the lack of training as well as the poor rules of money management. If you are a trader that hates to lose you are going to find that you are going to have a rough time adjusting to the forex markets and the same goes for the traders who are known as perfectionist. The second thing that you are going to have to keep in mind if you are considering the forex markets is that you should not consider forex trading if you are currently unemployed, or if you are someone who falls into a category of the low income as well as someone that can not afford to pay their bills or can not afford to eat. When it comes to the forex markets you should have the minimum of ten thousand dollars of money that you are able to actually lose and not miss one bit. You can’t expect that you are going to be able to open an account with a couple hundred dollars and become a millionaire by doing so because you want. Learning the Forex Markets Another important thing that you are going to want to do is learn the forex markets. The forex markets are actually known to be the most well known markets when it comes to speculation and this is mainly because of the enormous size of the market as well as the liquidity of the market and also the tendency that is there for the currencies to actually be able to move in a rather strong trend. Overall, you would mainly think that the traders that are located all around the world would be able to be killing in the forex markets but the truth of the matter is that the success in the forex markets has been limited to what is known as a very small amount of traders. The truth of the matter is that most traders come into the markets as if they are going to become rich overnight and that is not the case because those traders lack the discipline that is needed for trading properly and efficiently. If you are someone that can not stick to a diet then you are not going to be able to succeed in trading because of the fact that you will be required to do more work by trading then you would be in maintaining a diet. That is why short term trading can be found as not for amateurs and it is known to be rarely the path to get rich quick by any means. If you want to make huge profits then you are going to have to take huge risks. You and the Forex Markets When it all boils down to you as the trader, I am not trying to discourage you because if you are willing to take the time and out forth the effort you can succeed at the markets, you just have to make sure that you don’t get distracted along the way.

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Which is the Best Forex Broker you have traded with?

Interview with Matthew Sheppard

Senior Forex Advisor at XForex

1. What is your name and position?

Hello, my name is Matthew Sheppard and I am a senior forex advisor at XForex.

2. What is your experience and professional background?

In the last 6 years I had filled several positions in financial institutions such as a stock broker, a foreign exchange desk manager, a financial consultant and in my recent role I serve as a senior Forex advisor for XForex which is an online forex company.

3. What type of clients you deal with?

We deal with clients on all levels from the beginning stages to the more advanced trading levels.

4. Does most of your business activity come from the online or offline world?

Because of our high presence on the web, most of our business comes from the online world.

5. Why should a trader pick XForex from all forex brokers?

Aside from all the benefits that XForex offer like commission-free trading, 24/7 online support, high leverage (200:1), XForex offers educational and learning trading experience that you won’t find anywhere else..

Our team of experts and financial trainers provide personal assistance and guide clients to financial success. We provide daily analysis and market reviews to our clients giving them a better understanding of the market and helping them trade profitably.

6. From your experience, what advice would you give a person who wants to enter the forex world?

My advice to the beginning trader entering the Forex world is as follows:
  • Learn the market and understand what you’re getting into.
  • Research and find the broker that suits your needs and wants. Look for a good offering but more importantly customer service, don’t go for the low rates offer without being certain they have a good customer service department. From my extensive experience in the Forex world your key to success will be your client-broker relationship. I can honestly say that at XForex they put an emphasis on servicing clients, which is so important.
  • Invest smartly and calculate your risks.
  • Always know when to get out of a trade.

Broker of the Month

5_small_logoUFXBank provide up-to-date charts and news feeds, coupled with an easily navigated trading platform. UFXBank traders can access the biggest market in the world 24 hours a day with ease.

By keeping their platform, site and deposit process simple, safe and secure, UFXBank have become the web’s premier online forex trader.