Forex Trading

jonny · 1 Forex Trading Thu Oct 31, 2013 3:22 pm

jonny

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Dear Friends,

Is any one in this forum trade forex....?? If yes,Please advice what is the best terminal or platform to open an account.Also please advice about ADMIRAL MARKETS...Thank you.

wellappili · 2 Re: Forex Trading Thu Oct 31, 2013 3:51 pm

wellappili

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Admiral markets there's a office in Nugegoda close to Anula Vidyalaya.A person called Jonny is there too.(Ur profilename) Very Happy

smallville · 3 Re: Forex Trading Thu Oct 31, 2013 5:53 pm

smallville

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Actually we cannot comment on some company as we wish...
If somebody knows about this they'll explain.

knockknobbler · 4 Re: Forex Trading Thu Oct 31, 2013 7:52 pm

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jonny wrote:Dear Friends,

Is any one in this forum trade forex....?? If yes,Please advice what is the best terminal or platform to open an account.Also please advice about ADMIRAL MARKETS...Thank you.

Strongly advice ......don't do any thing with ADMIRAL MARKETS.

Check whether the Broker is a member of any one of the following regulator bodies:

U.S. Commodity Futures Trading Commission (CFTC)
U.S. National Futures Association (NFA)
Monetary Authority of Singapore (MAS)
Investment Industry Regulatory Organization of Canada (IIROC)
Financial Services Authority (FSA)
Japanese Financial Services Authority (FSA, KLFB)
Financial Futures Association of Japan (FFAJ)

Reputed Brokering companies are registered with all, or more than one of the above country -specific Regulators.
There is one brokering company quoted in NYSE.

Do not deal with any broker based in Cyprus. They are not regulated by any of the above.
Sorry, that I do not wish to mention names here. But (Google) search, and you can easily find out.
Even above mentioned regulatory bodies have they own websites, and they provide information on registered members. ( including whether they have been fined in the past )

jonny · 5 Re: Forex Trading Sat Nov 02, 2013 11:32 pm

jonny

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Dear Knockknobler,

Thanks for the valuable info..

Dear Smallville /wellappili

Thanks for responding to post...

knockknobbler wrote:

jonny wrote:Dear Friends,

Is any one in this forum trade forex....?? If yes,Please advice what is the best terminal or platform to open an account.Also please advice about ADMIRAL MARKETS...Thank you.

Strongly advice ......don't do any thing with ADMIRAL MARKETS.

Check whether the Broker is a member of any one of the following regulator bodies:

U.S. Commodity Futures Trading Commission (CFTC)
U.S. National Futures Association (NFA)
Monetary Authority of Singapore (MAS)
Investment Industry Regulatory Organization of Canada (IIROC)
Financial Services Authority (FSA)
Japanese Financial Services Authority (FSA, KLFB)
Financial Futures Association of Japan (FFAJ)

Reputed Brokering companies are registered with all, or more than one of the above country -specific Regulators.
There is one brokering company quoted in NYSE.

Do not deal with any broker based in Cyprus. They are not regulated by any of the above.
Sorry, that I do not wish to mention names here. But (Google) search, and you can easily find out.
Even above mentioned regulatory bodies have they own websites, and they provide information on registered members. ( including whether they have been fined in the past )

knockknobbler · 6 Re: Forex Trading Sun Nov 03, 2013 7:58 am

knockknobbler

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[quote="jonny"]Dear Knockknobler,

Thanks for the valuable info..

Dear Smallville /wellappili

Thanks for responding to post...

/quote]

Earlier, You have asked about Trading Platforms also.

Every broker offers , basically 4 types of platforms .
1. Mobile based
2. Desk top -Broker developed Platform
3. Desk top -Broker offers third party platforms
4. Web Based

If you are using 2-3 computers ( one at home , one at office ...) Web based Platform is most suitable. Because you don't have to download software, data and stored in your computer. Platform is in Brokers server, and you can create your own account and access from any computer ,any where . But there are limitations in features, facilities compared to Desk-top based ones.

In Desk-top based platforms, you have to download the software / data and have to store in your computer. When you go online and connect to broker , it will be linked to Brokers server and get updates as in Web based platform.
Usually, every Broker firm offer their version of a Desk-top based Platform and they strongly promote the customer to use that.
However there are third party developed, Desk-top based Platforms , which are much better compared to Brokers own Platform. (Its like ATrad stock trading software developed by IronOne Technologies Pvt Ltd, offered by most stockbrokers in CSE).

Most popular one is Meta Trader 4(MT4), and every Broker offers this. In addition there are specialized third party Platforms, Mirror Trader, Ninja Trader , Zulu Trade. Each one e offer different features , options and target different types of traders.
MT4 is the popular one for beginners with so many options to customize the chart, over 50 built in indicators. And most important , it enables programmable trading, (which is the only way to survive in this highly sophisticated business).

As implied Mobile based Platforms can be used with your mobile. This is good to know the latest data, and to execute transactions when you are away from the computer ( even in your car ). But a computer based Platform, preferably with a large screen is essential to grasp what is happening in the market and to study past trends, behaviour.

fxmpower · 7 Re: Forex Trading Fri Mar 21, 2014 7:40 pm

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Why dont you check out zulutrade? It is an amazing trading platform. you can trade both follow and sending your signal on it, they are extremely technologically advanced - very user oriented! To me it is the only copy trading platform you can make money with Wink

SHARK aka TAH · 8 Re: Forex Trading Fri Mar 21, 2014 11:52 pm

SHARK aka TAH

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fxmpower wrote:Why dont you check out zulutrade? It is an amazing trading platform. you can trade both follow and sending your signal on it, they are extremely technologically advanced - very user oriented! To me it is the only copy trading platform you can make money with

if you want you check.. dont come here to skim the innocents