2 October, 2014
Welcome to FxPro Trading Academy. If you’re reading this you have decided to join one of the world’s fastest growing online communities. Since the Internet revolution made it possible to trade currencies online a little over a decade ago, more and more people have turned to Forex, either as a way to supplement their existing incomes, or as a way to completely escape the workaday world and earn money on their own terms. Most seasoned Forex traders will tell you that those who end up profiting, in the long run, are in the minority. But despite this the number of people turning to online Forex continues to grow. Trading Forex is indeed risky, and we’re not here to obscure these risks, or to give you a false sense of your own abilities. We’re in the business of helping to create educated traders; this is what FxPro Trading Academy is all about.
One thing that not many people in the industry discuss very often is that the churn rate in online Forex is incredibly high. One of the more sobering statistics is that most beginners tend to wipe out their trading account balances within their first few months of trading. Brokers draw novices in, convince them that currency trading is as simple as applying a few technical indicators or clicking ‘Buy’ when an economic report comes in better than expected, then they watch them lose it all, safe in the knowledge that more beginners are flocking to their websites all the time. Our business model is different. We want our traders to have long and profitable trading careers. And while we may not be able to guarantee your success, we do our best to ensure that you go in with your eyes open and take your best self to the markets every time you trade.
In 2012 FxPro completed the transition to becoming a 100% FX agency model brokerage. You can read more about this here. What it means, briefly, is that our interests are now fully aligned with yours. Depending on which of our platforms you are using, our revenues come from marking up the spreads that we receive from our liquidity providers, or by charging commissions when you enter and close positions. In other words the on-going success of our clients is the most important thing to us. We do not profit from your losses; we only make money when you trade.
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