Forex Trading Secrets: Forex trading has been one of the best kept secrets of the high net worth investor for decades until recently. There are limitless profits available in the FX market for those with the right information and the willingness to act on that information.
OANDA (www.oanda.com) boasts of a high level of trust and reliability, as evidenced by its impressive Trust Score of 93 out of 99. While OANDA is not a publicly traded company nor does it operate as a bank, it is subject to regulation by seven Tier-1 regulators, signifying a highly trusted status. Additionally, it is supervised by one Tier-4 regulator, which means that users should utilize a cautious approach to risk management. eToro.com is a reputable trading platform, famous in the social trading industry. In 2018, the brand decided to conquer the US market and launched the local brand there. First, the company functioned solely as a crypto trading broker. Yet, later it added other items to its list of tradeable assets. Therefore, now it offers stocks and ETF trading as well. With a history dating back to 2007, eToro has amassed a large user base across more than 140 countries. When cryptocurrency emerged, the brand used a unique chance to enter the American market. One of its key features is CopyTrader, the social trading tool and a proprietary product of the project. It allows novices to repeat trades from top traders with just a few clicks. Thus, the tool offers a fresh approach to this asset class. This guide aims to provide a comprehensive eToro review to help traders make informed decisions. eToro offers trading services across many regions worldwide including the USA A standalone copy-trading ecosystem, providing equities, foreign exchange, commodities and cryptocurrencies markets. Provides a global selection of brokerages.
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OANDA Corporation is regulated by the CFTC/NFA. OANDA is a member Firm of the NFA (Member ID: 0325821). CFDs are not available to residents in the United States.
But the very nature of the Forex market requires one party in every trade to be right and the other wrong. In essence, the winner's winnings are the loser's losses. As it is a well know fact that 92% of people who have a go at trading, fail - it is in both the sophisticated investor and the bank's interests to keep their 'edge' in the market closely guarded.
Forex trading involves a high level of risk. You may have noticed that many brokers and forex trading servicess are beleaguered with such disclaimers. However, as a forex trader you can limit the amount of risk per trade thanks to trade sizing. We do not recommend ever risking more than 1% of your account per trade. So if you have an account of $1000, do not risk more than $10 per trade. If you have an account of $100, 000 - do not risk more than $1000 per trade, and so forth.
We also recommend trading only if you have a good percentage reward for every trade. This is known as a reward/risk ratio. The reward/risk ratio we adhere to is 3:1. If the trade (based on your strategy) looks like it could yield a 3% reward then we will take it (risking 1%). But if it does not - we leave it and walk away.
Another forex trading secret that big investors did not want you to learn is that advances in technology have made it possible for private investors from all walks of life to trade from the comfort of their own home. Far gone are the days where forex trading was simply the preserve of the elite 'old school boys network' in magic circle investment banks.
Profitable forex strategies are available to such private investors for them to use at their disposal, making it possible for potentially anyone to make money providing forex - providing they can follow a simply set of rules and are able to leave their ego at the front door and be coached by a forex mentor or trader coach.
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