FXTM information and reviews
FXTM
95%
OctaFX information and reviews
OctaFX
94%
XM information and reviews
XM
93%
FXCC information and reviews
FXCC
92%
Libertex information and reviews
Libertex
91%
HFM information and reviews
HFM
89%

IronFX: Best online trading platform for professionals


5 May 2022

Online forex trading for professionals is characterised by commitment and dedication as traders take this very seriously and consider it a full-time career. Through using various training methods that provide consistent results, beginner traders can become professional traders. Also being able to determine which techniques can be successful in the market, can also boost your expertise.

Before we move on to understand how professional traders work, let’s understand the forex market a bit more. So, what are the three ways to trade in the forex market?

Even though the concept of forex trading is very similar to currency exchange, it is interesting to notice that a majority of forex trades are not made to exchange currencies. Rather, the purpose is to either speculate or hedge a position in respect to future price movements. The most popular ways to trade in the forex market are:

Read on to learn what a professional trader is, what the types of expert traders are and why MT4 is the best choice.

Definition of a professional trader

If you are a professional trader, it means that you work in finance or you are engaged in investing as a full-time career. These traders either work for themselves, for a CFDs broker or other investment firms, or even as freelancers that trade on behalf of other clients. All environments require the same duties more or less. However, each trader has different experience and education. There are two types of professional traders:

The role of the professional trader is to buy and sell investment products so as to generate revenue. Let’s take a look at an example. If a trader buys a stock for let’s say 2 dollars per share and sells it when its value is 5 dollars, then the trader makes a profit. The professional trader’s job would not stop there. Instead, an expert trader would analyse the markets, build his/her strategy, review trades individually and engage with other experts in the field.

Tips for becoming a professional trader:

Most traders fail to focus on who they are which eventually leads them to finding more traditional ways to make a profit. Becoming a professional trader requires following a few classic rules designed to keep you focused on your end-goal.

Why use the MetaTrader 4?

MT4 is the best online trading platform for professionals and the industry-standard, chosen by numerous traders worldwide. Its intuitive and customisable interface, its advanced analytical features and other tools make it the best choice for both new and professional traders as they can adjust it according to their level of experience. In fact, the platform offers access to technical and fundamental analysis, EAs (Expert Advisors) and basically everything an expert trader needs to view and manage orders and currency prices and place trades. Traders can download and access the platform through a forex broker.

Not to mention that MT4 is supported by Windows, macOS, Android, iPhone, and web browsers. Traders can log in to their account and monitor their trades on the go, anytime. The MetaTrader 4 Advanced for Windows enables traders to make use of the latest trading features like automated strategies and the built-in ability to use EAs.

Some of the features are as per below:

Traders from all around the globe, download MT4 for online trading and make the most of its advanced features and tools.

What do expert traders do?

Professional traders step into more advanced techniques like the ones described below. Forex refers to exchanging currencies. It can also be speculative, such as in CFD trading. In fact, many investors hedge their stock portfolios with some percentage investment in forex, as these are stable commodities, given we’re sticking to national currencies of stable and large economies. Popular currency pairs such as JPY/USD have high trading volumes and are very liquid investments, making it attractive for short-term traders and investors with lesser available funds.

Since currencies fluctuate a lot, if one is in the business of exports or imports, they can hedge their future risk by entering forward contracts or swaps. Such contracts fix the exchange rate for a future settlement date. This secures the trader from potential future fluctuations and helps them realise/pay the actual value of goods or services provided/received.

#source

Share: Tweet this or Share on Facebook


Related

Trading with tixee
Trading with tixee

Navigate the ever-changing global economic landscape with tixee's premium products and services, including CFDs on FX, indices, stocks, commodities, cryptos, and more on a wide range of platforms!

25 Nov 2022

ActivTrades: Infinitely scalable investing solutions
ActivTrades: Infinitely scalable investing solutions

Innovative and robust investment technology by industry leader for the most demanding institutional partners. We serve a wide range of organisations delivering first-class investment and brokerage solutions...

24 Nov 2022

Join Libertex for a chance to win 500 BTC
Join Libertex for a chance to win 500 BTC

November marks a momentous month for the Libertex Group as the veteran broker gears up to commemorate its 25th anniversary. After surviving and thriving a full quarter century...

24 Nov 2022

AMarkets increases the leverage for cryptocurrency pairs
AMarkets increases the leverage for cryptocurrency pairs

AMarkets has increased the leverage to 1:100 for BTC/USD and BTC/EUR pairs, and to 1:10 for other cryptocurrency pairs. There are now 27 cryptocurrency pairs...

23 Nov 2022

Olymp Trade’s 8th birthday event results
Olymp Trade’s 8th birthday event results

Our celebration for Olymp Trade’s eighth birthday turned out to be one of the most spectacular events of the year. We held a series of online and offline events, all connected by the theme of freedom...

21 Nov 2022

XM Traders in Davao Learned How to Trade Crypto
XM Traders in Davao Learned How to Trade Crypto

XM completed yet another successful seminar in Davao on 22nd October, titled How to Choose and Trade Cryptocurrencies. Investors can face challenges with the rapidly changing and evolving cryptocurrency market...

17 Nov 2022


Editors' Picks

FXCM information and reviews
FXCM
87%
ActivTrades information and reviews
ActivTrades
86%
RoboForex information and reviews
RoboForex
85%
MultiBank Group information and reviews
MultiBank Group
84%
FxPro information and reviews
FxPro
83%
Vantage information and reviews
Vantage
83%

© 2006-2022 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.