13 May, 2016
The initial steps in selecting a broker is finding out what your options are. You don’t just sign up and do it right away. Not unless you know what to do already. Even so, a further study is a much better choice and knowing your forex broker types is very important.
Two Types of Forex Brokers
Dealing Desks (DD)
No Dealing Desks (NDD)
Dealing Desk Forex Broker – This forex broker function through Dealing Desk brokers and make money overspreads (Spread) and providing resources to their clients. Also known as “market makers.” Dealing Desk brokers exactly generate a market for their clients, which means they frequently take the other side of a clients’ trade.
Even though you may consider that there is a conflict of interest (coi), when there is actually none.
Market makers offers both a buy and sell quote, which means that they are filling both buy and sell orders of their clients. They are indifferent to the choices of a separate trader.
No Dealing Desk Broker - As the name indicates, No Dealing Desk Brokers do not pass their clients’ orders over a Dealing Desk, which means they do not take the other side of their clients’ trade as they purely connect two together.
No Dealing Desk is like passage builders, they create a structure over an otherwise impassable ground to link the two areas. No Dealing Desk can also impose a very small commission for trading or just put a profit by increasing the spread a little.
Did you know that even certain brokers were scammers? Do you know that scammers are everywhere? Believe it or not, there are some brokers who cheat on their clients...
If you have tried using demo account and have been using a live account, you would know that executing is much easier on a forex demo account...
The most common form of technical analysis in forex trading are probably the Trend Lines. They are also possibly one of the most underused ones...
The longest term trading is called Position Trading and can have trades that last for more than a few months to a number of years. This type of forex trading is set aside for the ultra-patient traders, and needs a good understanding of the fundamentals...
A moving average is a way to smooth out price movement over time. It basically means taking the average closing price of a currency pair for the last X number of periods...
It is very important to be your own trader and to never follow someone else's trading assistance carelessly without entirely knowing about it. The methods that work for them might not work for you.
|7||Fort Financial Services||73%|