Looking to make money fast online? Well you better look in a different area if you think you are just going to be able to jump into the forex market and make millions. This is not a suggestion that you cannot and will not make money if you have a forex investment, quite the contrary. What we are saying is that if you don’t put in the effort to do it the right way and lean the business, you may as well go into the bathroom, dump your cash into the toilet and flush.
The first step in becoming a Forex trader is to find a broker. Without a broker you can’t get into the market to begin trading. Your broker should charge a reasonable commission on your profits. Also take into account the minimum and maximum amount the broker will let you deposit or withdraw at any one time.
A demo account allows you to test the various forex trading strategies you’ve learned. You can also get a more comprehensive view of the real-time forex market. When you start trading for real, you won’t feel overwhelmed anymore.
There are a lot of forex brokers in the market today, but not all of them will be the best one to use for forex trading in Singapore. Know that there forex brokerage is regulated in the country. Thus, you should pick only those that are supervised by the authorized agencies.
Be wary of special offers. Legitimate forex brokers often offer special offers online to entice more traders to trade with them. Sometimes it includes lower deposits on new trading accounts, bonus access to feeds, etc. However, even scam artists have the capability to make promotional offers. The only difference is that they win and you lose! Just remember the old saying: “If it’s too good to be true, it probably is.” A guarantee that you will recoup your initial investment in overnight is very dubious.
With a lot of robots, you have to worry about finding a forex broker that is honest and reliable and offers fast trades and low spreads. To alleviate this, FAPturbo swiss has partnered with a major swiss broker (Dukascopy) that usually only accepts clients who are trading/investing over $100,000. You will have access to this broker through FAPturbo swiss. You will also be able to convert trades from other expert advisers to Dukascopy through their converting tool. Dukascopy offers low spreads ~ about .50 to 1 pip on major currencies, fast execution, and a robust trading platform. Unlike other brokers that make money by winning on trades that you lose on, Dukascopy makes its profits by charging a flat commission. One brokerage firm, one robot.
Company Background – You should always check the broker company background to make sure they’re easy to contact, but more importantly that they are a legitimate company. In the forex market, communication by email only is just not good enough. List of trustworthy companies is available at this website.
My ultimate advice is, if unsure, invest the smallest amount you can, and find out for yourself. This is how i usually used to find brokers, and it worked for me.