If you traded in the Forex market before or if you’re still trading now, you may have heard the term Forex broker a lot of times. However, as an individual trader, you may want to know what is a Forex broker and what they do.

Forex brokers are individuals or companies that assist individual traders and companies when they are trading in the Forex market. These individuals can really give you that extra edge you need in order to be successful in the Forex market. Although they will be trading your funded account, all the decisions are still yours to make if you want to.

Forex brokers are there to assist you with your trading needs in exchange for a small commission from what you earn. Here are some of the services that a Forex broker can give you:

• A Forex broker can give you advice regarding on real time quotes.
• A Forex broker can also give you advice on what to buy or sell by basing it on news feeds.
• A Forex broker can trade your funded account basing solely on his or her decision if you want them to.
• A Forex broker can also provide you with software data to help you with your trading decisions.

Searching for a good Forex broker can prove to be a very tedious task. Since there are a lot of advertising in the internet about Forex brokers, Forex traders get confused on which Forex broker they should hire. With all the Forex brokers out there that offers great Forex trading income and quotations, you will find it hard to choose a good and reputable Forex broker.

With a little research, you can find the right Forex broker who can be trusted. If you lack referrals for Forex brokers, you can try and do a little research of your own. The first thing you need to find out about a particular Forex broker with the amount of clients they serve. The more clients they serve the more chances that these brokers are trusted. You should also know the amount of trades these brokers are conducting.

Experience Of A Forex Broker Is Important

Knowing the broker’s experience in the Forex market is also a great way to determine if he or she is the right broker to hire. Experienced Forex brokers will increase your chances of earning money from the Forex market.

If you have questions or complaints, you should call or email the company and ask questions regarding their trading system. You should never be uncomfortable doing this. Besides, they will be the one who will manage your money. And, it is your right to know about what they are doing with your money.

When choosing a Forex broker, you should also consider their trading options. You should also know that Forex brokers are different from what they can offer you. They differ in platforms, spreads, or leverage. You have to know which of the trading options is very important to you in order to be comfortable when you trade in the Forex market.

Most online Forex brokers offer potential clients with a demo account. This will allow you to try out their trading platform without actually risking money. You should look for a demo platform that works just like the real thing and you should also determine if you are comfortable with the trading platform.

Look for the features you want in a trading platform in order for you to know what to expect if you trade with them. If you are comfortable with a trading platform, you should consider trading with them, and if you are not, scratch them off your list. This is a great way to test their trading platform and not risk your money.

If a Forex broker is not willing to share financial information about their company, you shouldn’t trade with them because they are reluctant to share company information. They should answer your questions regarding on how they manage their client’s money and how they trade that money.

Always remember that if you see an offer that’s too good to be true by Forex traders, it probably is too good to be true. The Forex market is a very risky place to trade and Forex brokers must tell you that there are certain risks involved when trading in the Forex market. Avoid hiring a Forex broker who says that trading in Forex is easy and a very good money making market with very low risks.

These are the things you should consider when you look for a Forex broker. If you find that right broker, you can be sure that you can really earn money.

Here’s another article about analysis the you might want to look at.

Question by lehai0609: How do people know that BOJ invervened in Forex market?
There were any signs such as significant Yen’s price change, trading volume or anything else? Or BOJ just confessed after the intervention? I’m newbie in Forex so i need a clear explanation.
Thank you so much!

Best answer:

Answer by First Place Turtle
Pull up a daily trading chart of USD/JPY currency pair. You will see a significant rally in USD (and simultaneous decline in JPY) happen on 9/14.

This was the result of BOJ intervening by selling JPY against USD. Estimates of the size of the intervention are ¥1.5 trillion, or a little over $ 17.6 Billion.

Add your own answer in the comments!

Question by MercedesGuy300: Is it illegal to open up a small Forex hedge fund?
I am a private Forex trader who wants to expand into a small online hedge fund. Note: This is not code for a pyramid scheme or ponzi scheme. I am talking about trading real money.

What is the legality on this? How much money can I trade before having to register with U.S. Securities?

Best answer:

Answer by Net Advisor
You can have any kind of hedge fund you want.

The key is you need certain registration, the right fund docs, the right corporate structure, and the right legal advice which can cost you $ 10-50,000 in total depending on your structure.

The hardest part is you will have to find qualified investors who are willing to invest with you.

Know better? Leave your own answer in the comments!

Question by acussi: Is on-line forex trading for the average guy or should be left for the professionals?
Online forex is all over the internet and I have been very tempted to give it a try but do not want to be wiped out imediately and lose my money. If some one has done it please share your good and not so good experience.

Best answer:

Answer by Glen Ulmer
Forex trading is a lot like legalized gambling. It’s not part of a conservative “average guy” portfolio. But there are free accounts on the internet whee you can play the markets with pretend money (and it tracks your gains, losses, and trading expenses) so you can teach yourself about it.

The thing is, as with all investing where you don’t yet know what you’re doing, when you start doing it for real, you need to treat the money you spend as part of your entertainment expenses — think of it as spent money the minute you make a trade.

And don’t forget — if you make a big gain, and then lose all the gain on the next trade — you’re likely to owe the government tax money even thought you netted zero dollars. So remember to set aside a portion of your “winnings”.

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Question by hando59: What is the best way to learn fundamental forex trading?
Is forex trading worthwhile as a second income generator?

Best answer:

Answer by Shem
get a free forex e-book from this site. better still, register to learn more.

What do you think? Answer below!

Question by Senesino: How can I find a forex mentor?
I hope to trade forex for a living, and I think a forex mentor will greatly reduce my learning curve. How do I go about finding a forex mentor?

I don’t want to attend a confusing webinar, nor do I want a subscription to a series of camtasia videos. I’m looking for personal instruction from an experienced trader who lives on forex.

Best answer:

Answer by Texas JR
I WOULD TRY CHAT ROOMS WHERE THERE ARE TRADEING FOREX

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Question by : Is forex trading a safe way to earn lots of money?
Hi guys,
Recently i’ve seen so many sites that speak about forex trading and brokers and so on. I saves a bit money and i was thinking to start trading forex and double it. Please i need some advice. Preferably someone who has past experience with it. Is it a good or bad idea. Please advice

Best answer:

Answer by Raysor
Bad idea.
This is how you make money trading (anything). 1. Knowledge/skill 2. Inside information (illegal) and 3. Luck
You probably need at least two of those to be successul. How many have you got?

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Question by Cisco Man: Does anyone know about some of the Forex robots and if any are worth using to trade currencies?
Has anyone had experience using the Forex robots that are available and are there any you would recommend? How successful have they been from a return standpoint?

Best answer:

Answer by Joe
The Federal government warns there are a lot of Forex frauds out there, and these Forex robots appear to be one type of these scams. If these robots really worked, there would be scads of articles about them in the Wall Street Journal and other financial publications talking about them. When I do a web search, I can not find a single reputable news article encouraging the use of Forex robots. The link below is a Federal website warning you about Forex fraud.

There are a lot of people on the Internet claiming they have done very well using Forex robots. These appear to be of two types. One is the outright liars. You might meet a person called “Zboy227″ who says “I made a lot of money using ScamRobot2000, go to their website at ScamRobot .com/Zboy227.” The “/Zboy227″ tells the website that Zboy227 has referred you. If you buy the product, Zboy227 gets a commission. He is only lying to you to get a commission.

There is a lot of luck in Forex. Sometimes you will run into people on the web who have tried a robot for a few days and have had some beginner’s luck with it. They start bragging about how well they have done. Later, they start to lose money, but they rarely get back on the web and talk about how much money they lost. People like to brag about their successes, but rarely talk about their losses. The result is that much of the feedback about these Forex robots is positive.

I may point out that websites that sell Forex robots admit there are a lot of scams out there. Of course they claim the other guy’s robot is a scam, but their robot works. If you do a web search on the words “forex robot” and “scam” you will find a lot of sites saying their competitors are scams.

I will admit I have not personally tested every robot out there, and I can not prove they are all scams. But I would be very hesitant to spend a lot of money on a robot without clear proof it really works.

What do you think? Answer below!

Question by Counter Trigger: Is there anything on the NYSE that follows true commodity prices or specific Forex?
I want to play commodities or Forex but I don’t want to deal with a broker…Shouldn’t there be something like this on the market?
please give me any tickers or names of institutions that offer these.

Best answer:

Answer by Warren534_FuturesTrader
There are plenty of ETFs and ETNs that track the major foreign currencies (AUD, GBP, CAD, EUR, JPY, SWF), the US dollar index and commodities (crude oil, gold, silver, commodity index, agricultural index). There are also many leveraged and inverse ones which move more than 100% of the underlying, or inverse to the underlying. Same applies to Stock indexes and Treasury bond.

All the info you want here:

http://seekingalpha.com/article/30369-a-guide-to-commodity-etfs-and-etns

http://etf.stock-encyclopedia.com/category/commodity-etfs.html

http://etf.stock-encyclopedia.com/category/currency-etfs.html

http://etf.stock-encyclopedia.com/category/stock-etfs.html

Give your answer to this question below!

Question by Mr Strange: How long before you get pain on forex?
If i earn a profit on forex trading today for instace how do i get my money and when.

Can i get it directly into my bank account and how long will it be before i can with draw it.
Sorry i mean paid!

Best answer:

Answer by Bira
yes mr muslim, it depends on the broker. It can be right way, or at the end of the financial month.
Have a look to your broker papers online.

http://bestforex-tradingsystems.blogspot.com/

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