Forex Facts for Traders
Forex Facts for Traders Successful forex traders make modest gains Most of the …
Roboforex Review and Broker Profile
Introduction and Comments
Operated by the RoboForex Group, which also operates RoboMarkets. The RoboForex website is the global presence for the company, and because of that it is domiciled in Belize, even though the parent company has its headquarters in the European Union. The RoboForex website is licensed and regulated in Belize, operating under license number 000138/107.
The RoboForex brand has been around since 2009, and because it is a global brand it has become the most popular of the RoboForex Group brands with over 2,291,006 clients in more than 169 countries as of 2018.
Forex features heavily as an asset class at this broker, but it offers many other assets too. Clients can choose from eight different asset classes for their trading, which includes a variety of commodities, stocks, indices, and cryptocurrencies.
Staying with the theme of variety, the broker also gives clients the choice of six different trading platforms, including two excellent social trading platforms. Clients are spoiled for choice at RoboForex.
The broker comes with some excellent characteristics, which include the following:
- Spreads starting as low as 0 pips.
- Minimum 0.01 lot trade size.
- Six different trading platforms including MetaTrader 4 and MetaTrader 5, R Trader, and cTrader.
- Social trading through the CopyFX and RoboForex RAMM platforms.
- A number of different promotions and bonuses.
- Regulation, insurance on deposits, and a secure platform.
The broker has become so popular because it offers its clients an excellent environment to conduct their trading, as you can see from the details already provided. In addition to offering more than 12,000 assets on six platforms, it is available in more than 169 countries and in 17 different languages. It is truly a global broker.
Plus, it’s a suitable broker for traders of all experience levels, from those who are brand new to financial markets to those with decades of experience.
One final positive for some is the fact that RoboForex, as you might have guessed from the name, embraces all kinds of automated trading.
Below we go into further detail regarding the various aspects of the broker’s business to help you decide if it is a suitable place for you to trade. Finally, we will conclude with our independent opinion based on the experience we’ve had reviewing dozens of other brokers.
A Quick Look at RoboForex
One of the keys to our research included registering for a demo account at RoboForex. This allowed us to test their trading platform, their mobile platform, and the responsiveness and utility of both. Creating this demo account took all of 60 seconds.
We immediately found that this broker is ideal for execution thanks to offering both STP and ECN access to the markets. It is also a great place to diversify holdings with its more than 12,000 different available assets.
Choice and flexibility are the keys at this broker. Multiple account types, multiple platforms, many different asset classes, and access to a variety of deposit and withdrawal options are just a start. The broker also operates in 18 different languages, has some of the lowest spreads in the industry, offers many different bonuses and promotions, has leverage up to 2000:1 on some assets, and provides insurance for client deposits. It should come as no surprise that the broker received 10 industry awards in 2019 alone.
Regulations & Licenses
Countries/Regulators
RoboForex is fully licensed and registered by the IFSC in Belize. In addition, they also hold a license for trading financial securities and derivatives with the sequence number 000138/107.
Besides the license the broker has also procured a Category A regulation from The Financial Commission (TFC). This is an international licensed issued by TFC, which is in the U.K. and Hong Kong. It provides neutral arbitration if necessary, and provides each client with insurance of up to €20,000 in the event the broker would encounter financial distress.
They also hold a Category A regulation from TFC. This international license is issued by an organization with offices in Hong Kong and the U.K. The purpose of TFC is to provide a neutral arbitrator when needed, and to provide clients with insurance coverage up to €20,000 in the event of financial distress in the company.
Trading Platforms
Clients at Roboforex can choose from six different trading platforms, which includes the two social trading platforms offered at the broker. Basic trading platforms include both MetaTrader 4 and MetaTrader 5, the broker’s proprietary R-Trader platform, and the popular cTrader.
MetaTrader 4: This is the well-known, popular, award winning platform that’s considered the standard for technical charting. It not only comes with a powerful set of indicators, it is also extremely extensible, and there have been hundreds, if not thousands, of third-party add-ons created for the platform. These include the Expert Advisors which make automated trading possible using MetaTrader 4.
MetaTrader 5: This is the newest version of the MetaTrader platform, and despite it being touted as an improvement, it isn’t. There is no backward compatibility with MetaTrader 4, and there is no way to use hedging strategies with MetaTrader 5. It is called the most technologically advanced platform, but its predecessor MetaTrader 4 remains more popular because it is the better platform.
cTrader: This is another very popular trading platform, and it works very well with the ECN account because it was created specifically for ECN trading. The platform fully supports automated trading, and it allows for the easy creation of all sorts of technical indicators. Many brokers do not offer cTrader because it is more expensive to license versus MetaTrader’s platforms.
R-Trader: This is the proprietary RoboForex platform and it gives clients access to the complete range of more than 12,000 different assets. Those who expect to trade stocks here will almost certainly want to choose R-Trader as their platform because the equity offerings for the other platforms are significantly limited. If there’s no strong need for the automated trading features that come with MetaTrader 4 or cTrader it’s best to choose R-Trader. There is even a built-in robot creator for clients to create and test automated strategies within R-Trader.
R WebTrader – https://roboforex.com/forex-trading/terminals/webtrader/
Mobile Trading Platforms
There are mobile versions of all the platforms talked about above, and they are available for both Android and iOS users. Roboforex has links to download all the various versions on their website, or clients can go to the respective app stores to download the mobile platform they prefer.
The benefits of using these mobile apps are as follows:
- The ability to access trading account to place buy and sell orders anywhere and anytime.
- Notifications and alerts.
- Charting and analysis on the go.
- Multiple languages available.
- Advanced account and order management.
Other RoboForex Platforms
Besides the four direct trading platforms offered to clients there are an additional two social trading platforms that clients can take advantage of at RoboForex. The most popular of these is the CopyFX platform, where clients can copy the trades of other RoboForex clients. It’s one way for clients to access markets and enjoy excellent performance without the huge time investment of performing their own research.
Assets Available
In total there are more than 12,000 assets available, but only the R-Trader accounts have access to all of them. Other account types will see varied access to the assets on offer. For example, most account types have access to 36 different currency pairs. They also have CFDs on several stocks, indices, crude oil, and cryptocurrencies. The Pro-Cent platform only has access to the 36 currency pairs, metals, and cryptocurrencies.
Notification and Alerts
All of the trading platforms offered by RoboForex have a notification system built in. Clients can set alerts based on price levels of various assets, or take advantage of alerts on economic news, technical indicators, or their own custom automated trade alerts. Besides setting the conditions that trigger an alert, traders can also choose to have them sent via email or SMS.
Risk Management Tools
Clients have several features that can function as risk management tools. There are both regular stop orders and trailing stops that can both be used to limit potential losses. The notifications and alerts provided on all the trading platforms can also serve as risk management tools. Those who prefer the social trading platforms will find the RAMM platform is specifically tailored to risk management. And of course, any automated trading system can serve as a risk management tool. There are plenty of ways for traders to limit risk in their portfolios.
Trading Tools and Analysis
The broker provides several trading and analysis tools for clients, such as free technical indicator signals. That gives a variety of technical signals based on various length moving averages, several other indicators, and even a markets sentiment chart. Clients can also take advantage of the analytical feed that provides commercial news, weekly forecasts, Fibonacci and wave analysis, and the general market overview.
Languages
As an international broker RoboForex offers its website in 18 different languages and support in 12 different languages. This means many clients can trade and receive support in their own native language.
Account Types
Retail Trader Accounts
Like many online brokers RoboForex has several account tiers that offer different levels of service and trading conditions. These range from a Pro-Standard/Pro-Cent account level up to the Prime account level.
Pro-Standard Account: This is the base level account at the broker, and it is east accessible as it has a low minimum deposit of just $10. Floating spreads begin at just 1.3 pips, leverage goes up to 2000:1 on some asset classes, and there are no additional fees or commissions levied.
Pro-Cent Account: This account is a “smaller” version of the Pro-Standard account and is meant for beginning traders or for those who wish to test strategies with small trades. It also has a $10 minimum, but the trade size is just 1/10 that of the Pro-Standard account. Leverage is also reduced to 2000:1. To note RoboForex is the market maker for the accounts and takes the other side on all trades.
ECN Account: The minimum deposit on this account is still $10, but we think the trading environment is improved by the ECN trading. Floating spreads here begin at 0 pips, which is offset somewhat by a commission of $20 per $1 million traded. This is still an improvement over the far larger spreads on the Pro-Standard and Pro-Cent accounts. Leverage is lowered to 500:1, but that should be plenty for anyone. The account is also not able to take advantage of the bonuses offered at RoboForex, but it does come with a 15% cash-back on commissions.
Prime Account: This is the top tier account and differs from others with a $10 minimum deposit. It keeps the 0 pip starting spreads, and the 2000:1 leverage, but commissions are reduced to $15 per $1 million traded. It also offers 5% Cashback (Rebates), effectively lowering the commission rate to $14.25 per $1 million traded. One other difference is that Prime accounts are limited to the MetaTrader 4, R WebTrader trading platform, making this account best for forex traders.
R-Trader Account: This is the fifth and final account type, and it is only for clients who choose to use the R-Trader platform, which is RoboForex’s proprietary platform. This does offer some benefit to traders since there are far more assets offered on the R-Trader platform, currently 12,000. The minimum deposit for the account is $100, but Stocks leverage is up to 1:20 and the account is not eligible to receive bonuses.
In addition to the account tiers each trader is eligible to join the VIP program. This program has three levels – Silver, Gold, and Platinum, with each giving an increase in bonuses and cash-back. The Bronze level is activated once a client’s account balance reaches $3,000 and it gives a 20% cash-back bonus, a dedicated account manager, and improved order conditions for those using a VPS. Higher levels increase the cash-back and other bonuses.
Demo Account
Demo accounts are available to everyone to practice trading or test strategies without risking any real money. Prospective traders can test any of the trading platforms in the demo account, and the cash-back rewards also apply to demo accounts, which allow traders to see how this cash-back reward affects their trading results. Demo accounts do expire after 90 days, but users are allowed to open as many demo accounts as they like.
Fees, Costs & Spreads
RoboForex does not impose additional fees on its clients and is very upfront about the spreads and commissions charged on accounts and on all the different assets offered. Spreads start at 0 pips for ECN accounts, and 1.3 pips for STP accounts. In addition, the ECN accounts are subject to commissions of $15-20 per $1 million traded. RoboForex also receives a small portion of the spread and a small commission from its liquidity provider, but this has no impact on traders.
Besides the basic spreads and commissions there are financing costs associated with leveraged positions, and any positions held overnight are subject to swap charges or credits. Clients also receive any corporate actions such as dividends credited to their account.
Deposits & Withdrawals
There are nearly two dozen deposit and withdrawal methods at RoboForex, which is right in line with the broker’s obvious focus on flexibility and choice for its clients. In all cases there are no fees imposed for deposits, while there are different fee structures for each withdrawal method.
The time frame for crediting deposits and processing withdrawals also differs based on the method used. Deposits from credit cards are instantaneous, but deposits from other sources might take several business days to process. Withdrawals can see delays of up to 10 business days in the case of bank transfers or credit cards.
Fees range from 1.6% for bank transfers to 0.8% for WebMoney. In the case of Netteller there is a 1.9% withdrawal fee, while Skrill withdrawals are subject to a 1% fee.
Education and Training
In addition to all the tools mentioned above clients also get access to a wealth of educational materials provided by MetaQuotes, the parent company of the MetaTrader platforms. This includes trading strategies, short and long-term, video tutorials, and a few other videos covering VPS hosting, signals, and robo-advisors.
Bonuses and Promotions
RoboForex entices new clients with three different bonuses. These are the Welcome Bonus, the Classic Bonus, and the Profit Share Bonus.
Welcome Bonus: New clients on the Pro-Standard and Pro-Cent accounts can take advantage of this bonus. It’s as easy as registering an account and depositing the $10 minimum either by credit card or debit card. The bonus is $30, which can be used for trading and during drawdown. The bonus itself can’t ever be withdrawn, but any profits made with it can be withdrawn.
Classic Bonus: With the Classic bonus clients can receive a 120% bonus on their first deposit, and on all following deposits. The bonus amount increases based on the amount deposited.
The bonus is designed to increase trading volume in accounts and can only be claimed by Pro-Standard and Pro-Cent accounts using the MT4, MT5, WebTrader platforms. There is a lifetime cap of $50,000 on the Classic bonus, and it cannot be combined with the Profit Share bonus. In addition, it cannot be used for drawdown, however the bonus is eligible to be withdrawn once a certain trading volume is met. This volume requirement is for one full lot traded for every bonus dollar received. That condition is for one full lot for each dollar of bonus received. So a trader who deposited $300 and received a $150 bonus must trade 150 lots to be eligible to withdraw the bonus monies.
Profit Share Bonus: Like the previous bonuses, the Profit Share bonus is only available to Pro-Standard and Pro-Cent account holders who use the MT4, MT5, WebTrader trading platform. This is a bonus on initial deposits, and it can’t be combined with the Classic bonus. The bonus is 25% of the initial deposit of $300 or less, or 60% for initial deposits of more than $300. There is a maximum cap of $10,000 per account and $20,000 per individual for this bonus. The bonus can be used for drawdown, but it cannot be withdrawn, although the profits made using it can be withdrawn.
Customer Support
As you might imagine, the customer support staff at RoboForex is just as professional as is everything else at the broker.
Roboforex Review and Broker Profile - Broker Specs
Company Information
| Headquarters |
2118 Guava Street, Belama Phase 1, Belize City, Belize, +65 3158 8389 [email protected] |
| Website: | https://www.roboforex.com |
Account Options
| Account Type: Flexible account types give you the option of choosing a pricing model that best suits your trading style. most have accounts that are Ideal for traders who want a traditional, spread pricing, currency trading experience or For traders who are seeking ultra-tight spreads with fixed commissions. and even some that are designed for serious high-volume FX traders looking for maximum control as a trader you have to decide what you need and find the broker tat provides that | ECN, STP, Market Maker |
| Account Currencies: A foreign exchange account, or Forex account, is used to hold and trade foreign currencies. Typically, you open an account, deposit money denominated in your home country currency, and then buy and sell currency pairs. so most brokers offer the larger currencies like the USD , GBP and EUR , some have others also depending on their locations and regulation | EUR USD CNY RUB |
Spreads:
What is spread in Forex?It is basically the difference between buying and selling prices of the assets you are currently trading. For example, let’s imagine a USD/JPY trade. In this pair’s case, we are buying JPY with USD, so we need to calculate accordingly. The market is requesting a price of 109.77 JPY per USD, so we buy. There’s another person trying to sell his USD and he is seeing a price of 109.79 JPY per USD. Once the trade goes through each trader gets the according amount and the spread comes in to be at 2 pips. So 109.79-109.77= 0.02. But what is a spread in Forex trading? Why is there a gap between these prices? Well, it’s quite simple. The spread is usually an income source for the broker. Every broker has a “liquidity provider” who directs the trades to the market and helps both the broker and the trader make payouts.Those liquidity providers have their own spread as well, so if the broker wants to have at least some income, they either have to charge commissions on the traders, or mark the spread up. |
Variable Spreads |
| US Clients Accepted: | |
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Deposit Methods:
Deposit Methods Planning to trade forex online? After you choose a broker and register an account, your very next step before you can trade will be to deposit funds. Most brokers offer a wide variety of deposit methods for your convenience. This article will help you understand deposit methods more fully so that you can choose the one which is best for your needs. This is an essential step to take if you want to keep your trading experience smooth, affordable and hassle-free. What is a Deposit Method? A deposit method is simply a means which is used to deposit money into your forex trading account. A related term is “withdrawal method,” which is the means used to withdraw money from your forex account. In many cases, the method you use for depositing money will also double as your withdrawal method. Most forex brokers provide a list of deposit and withdrawal methods they accept on their banking pages. There you should also be able to view transfer times and fees. Common Deposit Methods for Forex in 2021 In 2021, many different deposit methods are accepted for forex. Here are a few: Credit or debit card Bank transfer E-wallet (i.e. PayPal, Skrill, etc.) Prepaid cards (i.e. paysafecard) Check or money order Bitcoin or other cryptocurrencies On our site, you may read through detailed articles on all of these deposit method categories, as well as popular providers in each. Note that not all forex brokers offer the same list of deposit methods. Some may accept only a few different methods, while others may provide dozens of options. Fees, transfer times, and other details also may vary from one broker to the next. For that reason, it is very important to check out the banking information for any broker you are thinking of using before you sign up. |
Wire Transfer, Visa, MasterCard, Skrill, Neteller, Webmoney, FasaPay , Santander, HSBC, Caixa, Boleto, Santander Rio, Bancolombia, PSE, Banco Do Brasil, Bradesco, ITAU, POLi, Webpay, Perfect Money, AdvCash, QIWI Wallet, Mobile Money, ecoPayz, JCB |
Customer Service
| Supported Languages: |
English, Spanish, Italian, Portuguese, Russian, Polish, Chinese(traditional), Chinese(simplified), Arabic, German, Latvian, Indonesian, Malay, Ukrainian, Czech, Thai, Estonian, Vietnamese |
| Support / Service Hours: | 24hrs/ 7 days |
| Live Online Support: | |
| Phone Trading Available: |
Trading Software
Trading Platforms
What Is a Trading Platform?A trading platform is software used for trading: opening, closing, and managing market positions through a financial intermediary such as an online broker. Online trading platforms are frequently offered by brokers either for free or at a discount rate in exchange for maintaining a funded account and/or making a specified number of trades per month. The best trading platforms offer a mix of robust features and low fees. There are two types of trading platforms: prop platforms and commercial platforms. As their name indicates, commercial platforms are targeted at day traders and retail investors. They are characterized by ease-of-use and an assortment of helpful features, such as news feeds and charts, for investor education and research. Prop platforms, on the other hand, are customized platforms developed by large brokerages to suit their specific requirements and trading style. |
Web Trading, MT4, MT5, cTrader Proprietary Trading Platform, Mobile App Trading, |
| Supported OS: | Android, iPhone |
Trading
| Instruments- Range of Market Range of Market what are you able to trade here and what are the different financial asset categories that this broker offers, for example do they offer trading cryptocurrency or do they not, do they offer trading in gold etc. what are the majors and exotic pairs they have , | Forex, Indices, Precious Metals, Oil, Commodities, CFD Stocks, Cryptocurrencies | ||||||||||||
| Automated Trading Automated trading is a method of participating in financial markets by using a programme that executes pre-set rules for entering and exiting trades. As the trader, you’ll combine thorough technical analysis with setting parameters for your positions, such as orders to open, trailing stops and guaranteed stops. Auto trading enables you to carry out many trades in a small amount of time, with the added benefit of taking the emotion out of your trading decisions. That’s because all the rules of the trade are already built into the parameters you set. With some algorithms, you can even use your pre-determined strategies to follow trends and trade accordingly. | Yes | ||||||||||||
| Hedging Allowed Hedging with forex is a strategy used to protect one's position in a currency pair from an adverse move. It is typically a form of short-term protection when a trader is concerned about news or an event triggering volatility in currency markets. There are two related strategies when talking about hedging forex pairs in this way. One is to place a hedge by taking the opposite position in the same currency pair, and the second approach is to buy forex options. | |||||||||||||
Scalping Allowed
ScalpingScalping, when used in reference to trading in securities, commodities and foreign exchange, may refer to either a legitimate method of arbitrage of small price gaps created by the bid–ask spread, or a fraudulent form of market manipulation. How scalping worksThis section does not cite any sources. Please help improve this section by adding citations to reliable sources. Unsourced material may be challenged and removed. (March 2010) (Learn how and when to remove this template message) Scalping is the shortest time frame in trading and it exploits small changes in currency prices.[1] Scalpers attempt to act like traditional market makers or specialists. To make the spread means to buy at the Bid price and sell at the Ask price, in order to gain the bid/ask difference. This procedure allows for profit even when the bid and ask don't move at all, as long as there are traders who are willing to take market prices. It normally involves establishing and liquidating a position quickly, usually within minutes or even seconds. The role of a scalper is actually the role of market makers or specialists who are to maintain the liquidity and order flow of a product of a market. The profit for each transaction is based only on a few pips (basis points), so scalping is typically conducted when there are large amounts of capital and high leverage or there are currency pairs where the bid–offer spread is narrow. |
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Guaranteed Stops
Guaranteed stops
One way to ensure your stop is executed exactly where you specify is by placing a guaranteed stop. Guaranteed stops work in the same way as basic stops, except that they will always be filled at the level you set, even if prices move rapidly or gapping occurs.
If your guaranteed stop is triggered, you will incur a fee known as the stop premium on the closing of the trade.
To set a guaranteed stop on your deal or order ticket, click the drop-down arrow under ‘Stop’ and select ‘Guaranteed’.
Costs of a guaranteed stop
The stop premium varies depending on the market you are trading, and you’ll only be charged if the stop is triggered. You can see the guaranteed stop cost before opening a deal, as the stop premium will display near the bottom of the ticket. This premium is held separately alongside the margin, and if triggered will appear as an itemised charge in your history and overnight statement.
Benefits of using a guaranteed stop
In the event of a sudden, rapid market movement, an example of how a guaranteed stop can act like an insurance is shown below.
Let us consider three different clients, A, B and C, using different methods to manage their account.
All three clients have an open buy trade of £10 per point of USD/JPY at 11027.5. During the sudden fall in the value of USD/JPY on 2 January 2019 – known as a ‘flash crash’ – most clients were closed out at 10686.4, while the pair bottomed out at 10472.7. Here’s the impact on the three accounts:
Comparing the scenarios above, client A, who placed a guaranteed stop on their position, has greatly minimised their losses compared to clients B and C. If the flash crash had not happened, and the guaranteed stop had not been triggered, there would have been no impact on client A as the guaranteed stop premium would only have been charged if the stop was triggered.
Why am I unable to edit my guaranteed stop?
Generally, guaranteed stops can be edited after you add them. However, there are some scenarios in which you won’t be able to edit your guaranteed stops:
1. The market is closed
When the market is closed, you can only move your guaranteed stop further away (increasing your guaranteed stop distance). You will not be able to move your guaranteed stop nearer. 2. An increase in the minimum guaranteed stop distance During periods of increased or expected market volatility, we may increase the minimum guaranteed stop distance as compared to the initial guaranteed stop distance. In such situations you will have to adhere to the new guaranteed stop distance when amending your guaranteed stop. |
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Trailing Stops
What Is a Trailing Stop?A trailing stop is a modification of a typical stop order that can be set at a defined percentage or dollar amount away from a security’s current market price. For a long position, an investor places a trailing stop loss below the current market price. For a short position, an investor places the trailing stop above the current market price. A trailing stop is designed to protect gains by enabling a trade to remain open and continue to profit as long as the price is moving in the investor’s favor. The order closes the trade if the price changes direction by a specified percentage or dollar amount. A trailing stop is typically placed at the same time the initial trade is placed, although it may also be placed after the trade. |
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Interest on Margin
Interest on MarginA profit margin is a measure of how much money a company is making. In the world of futures trading, margin is a deposit that an investor puts down in order to enter a position. Meanwhile, in stock trading, margin is money borrowed from a broker. Beware before taking out one of these loans, however, as money borrowed in margin accounts will incur interest charges.Types of MarginMargin in the futures market is a lot different from margin in equities trading. In futures trading, margin is a deposit made with the broker in order to open a position. The amount is a fixed percentage—usually between 3% and 12%—of the notional value of the contract. There are no interest charges to the customer on futures margin because it is not a loan. |
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Negative Balance Protection
What is the negative balance protection?Negative balance protection means that you can't lose more than your deposited money, i.e. you won't owe money to the broker. Let's say you deposit $1,000 to your account and you buy a share with 5:1 leverage. In this case, you will have a position of $5,000. If there is a market turbulence and your share price drops 7%, you will suffer a 35% loss due to your leverage. This is $1,750 loss in dollars. This loss will eat your $1,000 deposited money and a further $750 which you will owe to the broker. If you do this transaction at a broker which provides a negative balance protection, your loss can't be bigger than the deposited $1,000. |
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| Phone Trading Available: | |||||||||||||
Social / Follow Trading
Social TradingSocial trading is a form of investing that allows investors to observe the trading behavior of their peers and expert traders. The primary objective is to follow their investment strategies using copy trading or mirror trading. Social trading requires little or no knowledge about financial markets, and has been described as a low-cost, sophisticated alternative to traditional wealth managers by the World Economic Forum. |
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Spreads:
What is spread in Forex?It is basically the difference between buying and selling prices of the assets you are currently trading. For example, let’s imagine a USD/JPY trade. In this pair’s case, we are buying JPY with USD, so we need to calculate accordingly. The market is requesting a price of 109.77 JPY per USD, so we buy. There’s another person trying to sell his USD and he is seeing a price of 109.79 JPY per USD. Once the trade goes through each trader gets the according amount and the spread comes in to be at 2 pips. So 109.79-109.77= 0.02. But what is a spread in Forex trading? Why is there a gap between these prices? Well, it’s quite simple. The spread is usually an income source for the broker. Every broker has a “liquidity provider” who directs the trades to the market and helps both the broker and the trader make payouts.Those liquidity providers have their own spread as well, so if the broker wants to have at least some income, they either have to charge commissions on the traders, or mark the spread up. |
Variable Spreads | ||||||||||||
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Trading Signals Provided
A forex signal is a suggestion for entering a trade on a currency pair, usually at a specific price and time. The signal is generated either by a human analyst or an automated Forex robot supplied to a subscriber of the forex signal service. Due to the timely nature of signals, they are usually communicated via email, website, SMS, RSS, tweet or other relatively immediate method. In many jurisdictions signal services need to be registered with the authorities. |
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| Additionally | Institutional Accounts:, Swap Free Accounts ( Islamic Account), Managed Accounts: |
Bonuses & Promotions
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Deposit Bonus
When you decide to start trading Forex (FX) online, you will of course need to select a good broker. While traders will look for many useful features when choosing a Forex broker, they will also come across a lot of aggressive advertisements from various FX brokers, that will try to entice new traders with an attractive Forex deposit bonus.
n general terms, a bonus is simply a way of compensating traders for choosing a certain broker. Once a person has opened an account with a Forex broker, they will be trading currency pairs, and will have to incur the same expenses as any other trader. The bonus is just a way for the broker to reward the trader’s choice, and give all or some of these expenses back to the trader, once they have proven themself as an active one.
How Does a Forex Deposit Bonus Work? There are many bonuses offered by brokers, with some of them being given to you post-trading, and others being deposited to your account as soon as you have completed a deposit. Bonuses that are known as rebates are credited to your account once you have completed a trade, while regular bonuses may require you to carry out quite a number of trades first. So how does the Forex deposit work? As this is a deposit bonus, a trader has to of course make a Forex deposit via an account manager, after they have accepted the terms & conditions and have successfully applied. Usually, once the account has been deposited, it may take a few hours (or days, in some exceptional cases) to actually receive the bonus on your account. Once the bonus is there, a trader may start opening and closing positions with the aim to trade the required volume, in order to claim the bonus as their own property. Once a trader has completed the required volume, the bonus money can be transferred from the broker to the trader. After this, a person can do whatever they want with these funds. |
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| First Deposit Bonus How To Receive A Hefty Forex Deposit Bonus? Forex deposit bonuses come in different shapes and sizes. Although some Forex brokers offer large bonuses and promotions to rope in clients, Forex bonuses are usually not as popular as in other industries such as binary options trading, spread betting, and sports betting. Unlike gaming or gambling websites, Forex trading is a legitimate business idea that allows an investor to make informed decisions on the market and earn a stable and steady income. Although professional traders stay away from Forex bonuses, amateur, and intermediate traders may find bonuses to aid them in their journey towards building a successful trading portfolio. What Are The Usual FX Bonuses Available For Trading Forex deposit bonuses start from as low as 5% of the deposit amount to as high as 100% of the initial deposit. Some brokers also offer up to 200% or an even larger numbers, but a majority of mainstream brokers limit the amount of bonus to a 100% maximum. These bonus structures are usually dependent on the amount of deposit, the type of account, and the credibility of the broker. According to industry norms, trusted and reliable brokers often offer fewer bonuses when compared to other lesser-known brokers. On the other hand, the availability of a bonus or the lack of it alone is not entirely representative of the quality and reliability of an FX company. Some FX brokers also offer a free no-deposit bonus that allows traders to start trading without making an initial deposit. Such no-deposit bonuses are ideal for traders to enjoy a risk-free environment where they can evaluate the real-life results of their trading strategies without putting their hard-earned money on the line. No deposit bonuses are also excellent alternatives to demo accounts, as demo accounts are mostly incapable of replicating the actual emotions and psychology of trading on a large scale. No deposit bonuses start from $1 to as high as $1000; however, there might be several restrictions when it comes to withdrawing profits made through such bonuses. | The bonus is $30, which can be used for trading and during drawdown. The bonus itself can’t ever be withdrawn, but any profits made with it can be withdrawn. |
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