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Forex Trader

Written by ForexCult Team
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Forex Trader It wasn’t until the nineteen ninety’s that many of the beginners actually took a step into what was known as the brave new world which was foreign exchange trading which was a frontier that had just recently actually became open to the individual self trader known as a forex trader. In today’s society, the foreign exchange market is becoming more and more popular and as a result, the beginners as well as the experienced investors are actually flocking to the forex market which is known as the largest as well as the most profitable and also most liquid trading market that is located with the world. This market is also known to be the fastest growing market as well. When it comes to you as the forex trader, it is important that when you are beginning that you take all the time that you need to make sure that you are able to learn this new skill of trading very well. Being a forex trader isn’t easy by a long shot and that is what a bunch of the beginners fail to realize when they are first starting out in the market. Becoming a Forex Trader Like I have said earlier, it is not easy to become a forex trader if you do not take the time to sit down and study the market and make sure that you learn this new trading skill very well. Everything that you learn you need to actually practice in a demo account so that you are able to try trading out with demo money instead of the actual real money that you would be trading with, if you were a forex trader in the real forex market. You need to make sure that you do this, before you actually take that step into the real market as a forex trader so that you know where you stand and what areas that you may need to work on before you actually take that step at all. The number one thing that you should remember as a forex trader is that you never, I mean never, want to trade with money that you can not afford to lose in the first place, this means if you are taking money that you have put back for bills, you should put it back where you got it from and wait until you have money that you can spare that is not going to take food out of your mouth or clothes off of your back. Learning to be a Forex Trader You should know that becoming a forex trader is not going to be a difficult or a time consuming project, you are just going to need to take a little time to make sure that you are aware of the environment that you are about to step into as a forex trader. There are also different learning styles out there for the individual forex trader that will fit into every budget known to man, it doesn’t matter if you are wanting to learn to be a forex trader by a book or if you are wanting to become a forex trader by having a personal trainer that comes right into your very home and teaches you one on one. The most important thing is not how you learn to be a forex trader; it is that you know how to be a forex trader. There are also some other materials that you will need to be a successful forex trader and I am going to tell you more about them now as well. The first thing that you are going to want to make sure that you have is a fast and also reliable computer that has what is known as high speed internet. You are also going to need to make sure that you look into getting what is known as charting software as well. You need to make sure that the charting software that you choose has what is known as a fast data feed so that you are about to actually track the movements of the currencies in actual real tie and so that you are able to perform what is known as a technical analysis that is necessary so that you are able to trade effectively. You also need to make sure that you have an online account with a brokerage firm which will offer you a reliable trading platform that has fair spreads and gives you the ability to have quick execution of trades.

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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.