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Are you a day trader, scalper, or maybe news trader? In addition, you should also determine your investment goals, trading volume, strategies, and trading styles. After you have the answers to the above questions, ask yourself these five important questions about your broker to find out whether a broker is truly suitable and the best for you or not.

This is the first and the most important aspect of choosing a Forex broker. Their main tasks are to prevent traders like us from fraudulent companies and ensure a fair market environment for all participants. Being regulated means that your funds are kept safely and securely in segregated accounts so the brokers will not be able to use your funds for their operational activities. But, remember that regulated brokers do not guarantee problem-free trading. However, it can at least prevent potential scam issues.

Alternatively, you may find this information on other pages, such as About Us, Regulations, and so on. There are a lot of trusted and prominent financial regulators in the world. Client support is an aspect that is actually essential but is usually brushed aside by many traders since they have not needed them yet. You need immediate assistance because you want to open a trade quickly before the market shifts again.

But, it turns out that their live chat support is not available at that time and can only help you within 24 hours. You have no choice but to lose your chance to earn profits since the Forex market is very liquid and can change in a matter of milliseconds. Are the customer support teams friendly, helpful, and professional? Do they tailor their answers based on your questions or do they just copy and paste canned answers?

What support channels do they offer? Do they provide various ways to reach out to them, such as call, live chat, web form, email, media social, or chatting apps? What is the average wait or response times of the live chat until you can talk with a human? You can try to contact them and ask some questions to evaluate their responses.

If your broker offers excellent customer service, then you can eliminate one more thing from your mind and focus on your trading. What are the conditions? Forex brokers usually offer several trading account types with different conditions. There are accounts suitable for beginner, experienced, and professional traders.

Therefore, you have to make sure that your chosen broker offers an account type that suits your trading level, needs, risk appetite, and styles. Professional accounts usually have higher maximum leverage, while beginner accounts offer lower maximum leverage. Since leverage is extremely risky, make sure that the offered leverage is according to your needs and use it with caution.

The wider the spread, the more difficult to make profits. Thus, popular pairs usually have tighter spreads. There are two types of spread: fixed and variable. As the name suggests, fixed spreads are established for an entire day and will not change, while variable spreads may change depending on the dynamics of the pairs you trade in. That is why you should check what fees your broker charge for your trading activities. For example, you may encounter trading fees, overnight fees swap , and inactivity fees.

Make sure that there are no hidden costs, and that you have taken these costs into account when choosing a Forex broker. Meanwhile, requotes happen because Forex brokers may not be able or not willing to give you a trade based on the price you entered. Both of them usually occur during a period of higher volatility. These are ways for Forex brokers to avoid much losses. This warning was the result of multiple claims from investors who said they had lost a huge chunk of money.

Many dishonest individuals and entities lured investors in through deceptive tactics and then took advantage of them. Of course, this is an added risk on top of the one existing with trading itself. Also, never let anyone else perform the trading for you. Learn to do it by yourself to minimize chances of getting duped. We got you! Check out these five popular trading strategies from retailers that are great, regardless of which corner of the world they belong to.

Technical analysis is the base of many trading decisions. Enter and exit the market accordingly. This takes place shortly after there is any change in economic data or the news. Scalping: Entering the market, trading at a high volume but for a significantly shorter time and quickly exiting to grab some pips at a time. Trend trading: Sometimes going with the trend is the best thing you can do.

How to Join Forex Trading in Philippines Just in general, entering the forex market is quite easy although the stringent regulations and guidelines in the Philippines make everything a bit trickier. Here are the primary steps to making an initial forex trade: Step 1: Get a device with a proper and stable internet connection.

Step 2: Locate an online forex broker that actively serves clients from your country. Step 3: Fund the account using an online payment service. Step 4: Start a margin account. Time to make your first deposit using that very payment service. Step 5: Download a forex trading platform that serves your needs in terms of trading as well as device compatibility. Step 6: Get on to doing your first trade! Thus, you can start your online forex trading journey as long as they receive customers from the Philippines.

As time goes by, and you grow more comfortable, you can build on that fund. Regardless of that, some online forex brokers ask for a minimum deposit that can range anywhere from PHP 5, to PHP , It can either soar or drop against other currencies. Making cash on winning bets and eliminating losses when the market flows in a direction opposite to yours is the main game of trading forex.

Using leverage in the market, profits and losses too can be increased. What are Forex Signals? A forex signal system is a collection of analyses a forex trader utilizes to decide if you should buy, sell a currency pair or not to at any fixed time.

These signals could be based on news-based events or technical analysis charting equipment. Forex trading signals will be available free of charge, for a payment, or are Created by traders. When is the Best Time for Forex Trading? Every hour has a unique charm that comes in handy during currency trading. Not all hours were created equal for trading.

The optimal time to trade is when the market has reached peak activity. What is the Best Platform for Forex Trading? On our quest to find the best brokers in the Philippines, we put together a list containing all the brokers who accept new customers from the Philippines. Then they were judged by Trust Score Ranking. This lets traders draw the line on what they require to close an order, either to minimize potential losses or to maximize profits.

These funds need to be taken from the originating source of said deposits. Excess funds can conveniently be withdrawn via wire transfer or bank transfer. There is an abundance of online platforms that enable you to open both live and practice accounts and begin trading up to 30 currency pairs! Make sure to do your homework before putting your hard-earned money on the line, or you might just brew a recipe for disaster.