The first step of the training process opening a demo account. With a demo account, you can learn how to operate the trading platform and develop trading strategies for an unlimited period of time, absolutely free. Even if you have no forex market knowledge you can test your skills as a trader...
People think they can become an expert at forex overnight, it's about patience and learning how to trade, there are risks with every opportunity and learning how to trade forex before diving in would greatly minimise these risks.
We have the same issue. We're a new broker who also offer low commission, no b book or trading desks, fast deposits/withdrawals very competitive spreads. Of course we can't offer the same guarantee as brokers that have been running for 5 years+ but we hope to emerge on the review and rating...
I think having 'patience' is a good one to add. Many traders rush without the proper knowledge of how trade works and feel let down when the trades aren't going as expected. Successful traders learn the art of patience.
Demo accounts are important to test out your strategy. You should develop your own strategy after testing it on a demo account. But if you do want to try out something new we've got a list of over 70 trading strategies on our site with examples.
Knowledge is power in this aspect. Make sure you're up to date with trader insight and find a decent broker with low spreads. It's also about you own motivation and dedication, you've got to be in the right mindset to be successful.
It's recommended to try out a few brokers with their demo accounts to see which one really fits you best. There are lots of brokers out there that offer different perks to suit trader's needs. That being said we're slightly biased on which one..
Our first low commission offer proved popular, so from 1st March for one month, commissions on Forex trading will be $5 (round turn) for any client who signs up. Just visit BuzzFX and open an account today.
Let me know if you have any questions. Hope to see you when the markets open!
I've had some questions about the reward scheme and how it works so I thought I'd take the time to clarify:
The BuzzFX rewards scheme is unique in that it's not a bonus scheme and any rewards will be paid into a separate wallet to your MT4 account.
This means your rewards are...
I think it's really important to have people who aren't affiliated with a broker or trading institution sharing their forex knowledge. People are always trying to sell their product or service to newbies. It's good to have a more impartial opinion online. Keep it up.