Know These Forex Broker Games
Do you trust your Forex Broker?
You do. You shouldn't. Forex Brokers play many games with their
clients. Know these forex broker games if you want to become successful
at forex trading. The first thing that you should know is that your
forex broker will paint a very rosy picture of forex trading. You will
be send emails by your forex broker telling yesterday so and so made so
many thousands of dollars and it could have been you. Why don't you
start trading forex?
When you read such type of messages you start believing your forex broker. Never ever trust your forex broker. Your broker wants you to start trading even before you have been trained. The more you are going to trade, the more you are going to lose. The more you lose, the more your broker makes. Its as simple as that.
Your forex broker wants you to trade as much as possible and with as high a leverage as possible. Your broker will even entice you to trade with a leverage of 200:1 or evan 400:1 saying that only we can provide such a high leverage to our client as if doing you a favor. Don't fall into that trap. Leverage is a double edged sword that you should handle with care.
In order to make you trade as much as possible, trading challenges will be announced. You will be invited by your forex broker to join the trading challenge and win the $5000 prize money. This is only a ploy used by forex brokers to make their client trade as much as possible in order to win the competition. The more these inexperienced traders trade, the more they lose. In the return of a $5,000 cash prize your broker easily make something like $25,000-$50,000 from the clients.
The prices that your broker offer also don't reflect transparency. Suddenly the broker will widen the spread. Your broker will add 2-3 pips to the spread that they get from the interbank market. Even 1 pip spread can translate into thousands of extra dollar as a trading cost to you.
There is shady practice used by the brokers known as, "Stop Hunting". The broker is aware of the market orders placed by their clients. If they find a number of stops placed at or close to a certain level, there will be a sudden blip in the price feed and those stops would be triped.
Read more about the Forex Broker Games here.
When you read such type of messages you start believing your forex broker. Never ever trust your forex broker. Your broker wants you to start trading even before you have been trained. The more you are going to trade, the more you are going to lose. The more you lose, the more your broker makes. Its as simple as that.
Your forex broker wants you to trade as much as possible and with as high a leverage as possible. Your broker will even entice you to trade with a leverage of 200:1 or evan 400:1 saying that only we can provide such a high leverage to our client as if doing you a favor. Don't fall into that trap. Leverage is a double edged sword that you should handle with care.
In order to make you trade as much as possible, trading challenges will be announced. You will be invited by your forex broker to join the trading challenge and win the $5000 prize money. This is only a ploy used by forex brokers to make their client trade as much as possible in order to win the competition. The more these inexperienced traders trade, the more they lose. In the return of a $5,000 cash prize your broker easily make something like $25,000-$50,000 from the clients.
The prices that your broker offer also don't reflect transparency. Suddenly the broker will widen the spread. Your broker will add 2-3 pips to the spread that they get from the interbank market. Even 1 pip spread can translate into thousands of extra dollar as a trading cost to you.
There is shady practice used by the brokers known as, "Stop Hunting". The broker is aware of the market orders placed by their clients. If they find a number of stops placed at or close to a certain level, there will be a sudden blip in the price feed and those stops would be triped.
Read more about the Forex Broker Games here.
Hello Everybody,
ReplyDeleteBelow is a list of the most recommended FOREX brokers:
1. Best Forex Broker
2. eToro - $50 minimum deposit.
Here is a list of the best forex instruments:
1. ForexTrendy - Recommended Odds Software.
2. EA Builder - Custom Strategies Autotrading.
3. Fast FX Profit - Secret Forex Strategy.
I hope you find these lists helpful...