Attention to new forex traders. Even the most experienced forex trader has to start somewhere. For your case, your journey starts today. Do not open a forex trading account before reading these facts about forex.
1. Forex is not regulated. New traders can get lost in the forex jungle. To avoid becoming confused, they can find an experienced forex guru to help them traverse the enormous amount of information and avoid pitfalls. Forex is regulated by most countries but there are some weaknesses that can be exploited by conniving people.
2. Most forex brokers have hidden fees. A totally honest forex broker does not exists. Their main purpose is to make profit, whether it is from charging for deposits, or charging for withdrawals, or charging from each transactions made through the spreads, forex brokers will find a way to squeeze some money from any activities made while using their services.
3. It is not easy to find an experienced forex teacher. Searching for a good forex mentor can be hard. It can take a lot of time and you have to go through all the false directions and well-intentioned but wrong advice before finding the perfect mentor. Forex can only be learned behind closed doors. That is the reason why a lot of forex mentors prefer to sit in front of their computer to do analysis and monitor their trades.
4. Forex supporters and traders are diverse and are divided in groups. The most visible evidence of this is via online forums and discussion boards. Forex discussions can be heated sometimes. It is easier to communicate with like-minded individuals who share the same values with you. That is the reason why people are usually grouped together based on opinions. One word of advice: Find a forex group and stick to it! Contribute as much as you can and you find that karma works both ways.
5. Forex trading has become cheaper. The Internet has made it possible for a lot of people to trade in the forex market. This has made forex trading a lot more cheaper. As one Instaforex blog in Malaysia has stated, you can start trading with as little as 10 USD. That's how cheap it has become.
1. Forex is not regulated. New traders can get lost in the forex jungle. To avoid becoming confused, they can find an experienced forex guru to help them traverse the enormous amount of information and avoid pitfalls. Forex is regulated by most countries but there are some weaknesses that can be exploited by conniving people.
2. Most forex brokers have hidden fees. A totally honest forex broker does not exists. Their main purpose is to make profit, whether it is from charging for deposits, or charging for withdrawals, or charging from each transactions made through the spreads, forex brokers will find a way to squeeze some money from any activities made while using their services.
3. It is not easy to find an experienced forex teacher. Searching for a good forex mentor can be hard. It can take a lot of time and you have to go through all the false directions and well-intentioned but wrong advice before finding the perfect mentor. Forex can only be learned behind closed doors. That is the reason why a lot of forex mentors prefer to sit in front of their computer to do analysis and monitor their trades.
4. Forex supporters and traders are diverse and are divided in groups. The most visible evidence of this is via online forums and discussion boards. Forex discussions can be heated sometimes. It is easier to communicate with like-minded individuals who share the same values with you. That is the reason why people are usually grouped together based on opinions. One word of advice: Find a forex group and stick to it! Contribute as much as you can and you find that karma works both ways.
5. Forex trading has become cheaper. The Internet has made it possible for a lot of people to trade in the forex market. This has made forex trading a lot more cheaper. As one Instaforex blog in Malaysia has stated, you can start trading with as little as 10 USD. That's how cheap it has become.
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