Top Forex Brokers https://topforexbrokers.net Best Forex Bonus Offers & Top FX Brokers Reviewed Sat, 24 Feb 2024 16:49:37 +0000 en-GB hourly 1 https://wordpress.org/?v=6.0 https://topforexbrokers.net/wp-content/img/2020/01/cropped-TFB_Favicon_500x500-32x32.png Top Forex Brokers https://topforexbrokers.net 32 32 EagleFX account types https://topforexbrokers.net/eaglefx-account-types/?utm_source=rss&utm_medium=rss&utm_campaign=eaglefx-account-types https://topforexbrokers.net/eaglefx-account-types/#respond Sat, 24 Feb 2024 16:49:37 +0000 https://topforexbrokers.net/?p=61938 EagleFX is an unregulated Forex and CFDs broker that has a 3.819 rating on the FPA (Forex Peace Army) platform meaning it seems a legit and reliable broker. Despite being unregulated the broker managed to establish itself and 3.8 rank is a decent achievement on the FPA. It provides access to a multitude of trading […]

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EagleFX is an unregulated Forex and CFDs broker that has a 3.819 rating on the FPA (Forex Peace Army) platform meaning it seems a legit and reliable broker. Despite being unregulated the broker managed to establish itself and 3.8 rank is a decent achievement on the FPA. It provides access to a multitude of trading instruments including:

  • 55 Forex pairs
  • 32 Crypto pairs 24/7
  • 6 commodities
  • 71 stock CFDs
  • 10 indices
  • 1 Dollar futures

The trading platform offered by EagleFX is an advanced MetaTrader 4 platform for all devices including desktop and mobile.

The minimum deposit starts from 10 USD and both deposits and withdrawals are free of charge. Deposits can be made using Bitcoin and wire transfers. For BTC the minimum deposit is 10 USD and for other methods including bank cards and wire transfers, it starts from 50 USD.

There are no inactivity fees and all types of trading styles are allowed including hedging and EAs.

EagleFX provides traders with educational resources consisting of articles explaining various concepts and peculiarities of Forex trading.

A quick overview of the EagleFX trading accounts and their features

Live account
Typical spreads on EUR/USD
Commissions 6 USD per lot round turn
Minimum lot size 0.01 lots
Maximum leverage 1:500
Trading platforms MetaTrader 4, web trader

EagleFX live account

EagleFX offers only one live account for all traders with 24/5 Forex trading and 24/7 Crypto trading. The broker has no other accounts and charges trading commissions of 6 USD round turn per 100k traded (1 standard lot). The commission is within the industry average of 7 USD round turn, but without opening a live account it is not possible to check the exact spreads on EUR/USD.

The maximum leverage is different for each trading asset class including 1:20 for stocks, 1:500 for Forex, metals have 1:500, indices have 1:200, energies at 1:100, and cryptos are capped at 1:100. The only downside for the EagleFX is the lack of several account types to appeal to both scalpers and swing and day traders. The WebTrader is a MT4 platform as well and the same credentials can be used for all devices.

FAQs on EagleFX account types

Is EagleFX a good broker?

Yes, EagleFX has a 3.8 score on the FPA and can be considered as a reliable broker despite being unregulated.

How much is EagleFX commission per lot?

The trading commission on the live account is 6 USD per lot round turn for each standard lot traded (100,000 units of a currency).

How do I open an EagleFX account?

To open a trading account at EagleFX visit the official website and click on the Signup button. Then choose leverage and other options and verify your account before starting to trade with real money.

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Exness account types https://topforexbrokers.net/exness-account-types/?utm_source=rss&utm_medium=rss&utm_campaign=exness-account-types https://topforexbrokers.net/exness-account-types/#respond Sat, 24 Feb 2024 16:38:44 +0000 https://topforexbrokers.net/?p=61934 Exness is a regulated Forex and CFDs broker. Here is the list of regulators which oversee the broker: the Financial Services Authority (FSA), Seychelles the Central Bank of Curaçao and Sint Maarten (CBCS), Curaçao the Financial Services Commission (FSC), British Virgin Islands Exness is available for international traders except for USA, Iran, North Korea, Europe, […]

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Exness is a regulated Forex and CFDs broker. Here is the list of regulators which oversee the broker:

  • the Financial Services Authority (FSA), Seychelles
  • the Central Bank of Curaçao and Sint Maarten (CBCS), Curaçao
  • the Financial Services Commission (FSC), British Virgin Islands

Exness is available for international traders except for USA, Iran, North Korea, Europe, and the United Kingdom citizens.

Available trading instruments include:

  • 96 Forex CFD
  • 18 Commodities CFD
  • 97 Stocks CFD
  • 10 Indices CFD
  • 10 Crypto CFD

As we can see, the main type of assets are CFDs allowing traders to speculate on both directions of price movements and with instant execution for low commissions. Crypto CFDs have instant execution speeds unlike underlying digital currencies requiring network approval.

A quick overview of Exness account types

There are three types of trading account groups for general FX traders, professionals, and social trading activities. The first group of account types are called standard accounts and consist of Standard and Standard Cent accounts, professional accounts are Raw spread, zero, and Pro, and social trading accounts include social standard and social pro accounts.

A quick overview of Exness Standard accounts

Standard Standard Cent
Typical spreads on EUR/USD From 0.2 pips From 0.3 pips
Minimum deposit 10 USD (Depending on payment system) 10 USD (Depending on payment system)
Minimum lot size 0.01 lots 0.1 micro lots
Maximum leverage 1:Unlimited 1:Unlimited
Commission No commission No commission

A quick overview of Exness Professional accounts

Raw Spread Zero Pro
Typical spreads on EUR/USD From 0 pips From 0 pips From 0.1 pips
Minimum deposit 200 USD 200 USD 200 USD
Maximum leverage 1:Unlimited 1:Unlimited 1:Unlimited
Minimum lot size 0.01 lots 0.01 lots 0.01 lots
Commission Up to 3.50 USD per side per lot From 0.2 USD per side per lot No commission

A quick overview of Exness social accounts

Social Standard Social Pro
Typical spreads on EUR/USD From 1 pip From 0.6 pips
Minimum deposit 500 USD 2,000 USD
Maximum leverage 1:200 1:200
Commission No commission No commission

Exness standard accounts

Exness standard accounts are for the general audience and novice traders who want to start trading with average terms. The standard cent account is for beginners who are switching from demo to live trading and want to transition with the lowest risks possible. To ensure simplicity for newbie traders the standard cent only offers Forex and metal instruments for trading while the standard comes with a full range of assets including Forex, metals, cryptocurrencies, energies, stocks, and indices. The minimum lot size starts from 0.01 lots (1,000 units of currency) and is capped at a maximum of 200 lots. The margin call is set at 60% and the Islamic version is available for both account types.

The minimum deposit typically depends on the payment method and starts from 10 USD. Supported payment methods are bank cards, Neteller, Skrill, and Perfect Money. The order execution type is market, meaning the orders are executed at market prices.

Exness Professional accounts

For traders with a bit more budget and experience, there are several professional account types targeted at both scalpers and day traders. The three professional accounts are raw spread, zero, and pro. The minimum deposit for pro accounts is 200 USD or equivalent.

The raw spread account is for scalpers who want to speculate on extremely short-term price movements and require the lowest spreads possible. Scalpers typically prefer to pay a small commission and have zero spreads, and raw spread account spreads start from 0.0 pips on major pairs. The commission for such low spreads is 3.5 USD per side per 100,000 USD traded (1 standard lot). The leverage is not limited and traders can choose between 1:3000 and higher levels of leverage. The ability to choose your preferred leverage level is very flexible for experienced traders. All three accounts come with similar specs with the only difference being the amount of spreads and commissions for these spreads. The minimum deposit requirement is 200 USD for all three trading accounts. The spreads for the Zero account start from 0.0 pips on major pairs and the commission is 0.2 USD per side per lot traded. The Pro account comes with spreads from 0.1 pips on major pairs for zero commissions.

Exness social accounts

Social trading at Exness is possible through two account types: social standard and social pro. Social trading allows traders to become trading strategy providers for copy traders and earn money. Spreads for social trading accounts are higher than other account types but still low and below the industry average. It starts from 1 pip for the Social Standard, and 0.6 pips for Social Pro accounts. There are no commissions charged for either account and the minimum deposit is 500 USD for the social standard and 2,000 USD for social pro. There are only three asset classes available for social accounts including Forex, metals, and cryptoсurrencies. The margin call for social accounts is also low at 30%. Social accounts can be used for both providing trading signals or for copy trading.

FAQs on Exness account types

Can I trade with $1 on Exness?

No, you will need at least 10 USD for standard accounts to start live trading. This restriction is because of payment providers’ requirements. Some accounts have higher minimum deposit requirements ranging from 10 to 2,000 USD.

What’s the minimum deposit for Exness?

The minimum deposit at Exness starts from 10 USD for standard accounts, 200 USD for professional accounts, and 500 and 2,000 for social trading accounts.

How do I open a real account with Exness?

You will need to sign up on the official website of Exness and follow the instructions. After registration and account selection verify the trading account and then deposit at least 10 USD. Depending on the account type the minimum deposit may be different.

Which country is Exness?

Exness is a global Forex and CFDs broker offering trading services to traders around the world. Citizens of some countries are not accepted including the USA, Iran, North Korea, Europe, and the United Kingdom.

Which account type is best in Exness?

There are three groups of accounts at Exness Standard accounts, professional accounts, and social trading accounts. Each of the accounts comes with the swap-free option as well.

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HFM account types https://topforexbrokers.net/hfm-account-types/?utm_source=rss&utm_medium=rss&utm_campaign=hfm-account-types https://topforexbrokers.net/hfm-account-types/#respond Sat, 24 Feb 2024 16:14:17 +0000 https://topforexbrokers.net/?p=61928 HFM is a Forex and CFDs broker regulated in multiple jurisdictions. The broker offers diverse trading assets of Forex, indices, commodities, stocks, cryptos, and ETFs. The broker offers multiple account types, cent, zero, pro, premium, and top-up bonus. We are going to review each of the trading accounts and their key features and differences. A […]

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hfm

HFM is a Forex and CFDs broker regulated in multiple jurisdictions. The broker offers diverse trading assets of Forex, indices, commodities, stocks, cryptos, and ETFs. The broker offers multiple account types, cent, zero, pro, premium, and top-up bonus. We are going to review each of the trading accounts and their key features and differences.

A quick comparison of HFM trading account types

Here is a table to quickly see the overall specs of each trading account type offered by HFM.

Cent Zero Pro Premium Top-Up Bonus
Minimum deposit 0 USD 0 USD 100 USD or equivalent 0 USD 0 USD
Maximum leverage 1:2000 1:2000 1:2000 1:2000 1:1000
Typical spreads on EUR/USD From 1.2 pips From 0.0 pips From 0.6 pips From 1.2 pips From 1.4 pips
Commissions 0 USD 0.03 USD per 1k lot 0 USD 0 USD 0 USD
Swap-free Yes Yes Yes Yes Yes
Trading platforms MetaTrader 4, MetaTrader 5 MetaTrader 4, MetaTrader 5 MetaTrader 4, MetaTrader 5 MetaTrader 4, MetaTrader 5, HFM platform MetaTrader 4, MetaTrader 5, HFM platform

HFM Cent account

The cent account is designed for new traders who want to test their skills on live markets with a small budget. The key defining feature of a cent account is its low capital requirements and micro-lots trading volumes. 1 micro lot is equal to 1,000 units of currency or 0.01 lots. The main goal here is to allow novice traders to trade on live markets with much lower risks than other accounts.

Supported trading platforms include MetaTrader 4, MetaTrader 5, Webtrader, and Mobile Trading. The Webtrader and mobile trading apps are also MT4 and MT5 apps but for mobile and browsers. They offer somewhat limited functionality when compared to their desktop counterparts. The desktop software MT4 and MT5 are both super advanced platforms, offering a full range of features, including fully automated trading capabilities.

Spreads on HFM cent accounts are variable from 1.2 pips on major pairs of EURUSD. Account currency is only USC. 1 lot equals 1,000 units, trading instruments offered on the cent account are limited to only Forex and Gold.

The minimum deposit starts from 0 USD and the minimum lot size is set at 0.01 lot. The leverage is high on HFM and depending on the jurisdiction of a trader can reach up to a maximum of 1:2000. There is a maximum trade size limitation of 200 micro lots per position and 500 micro lots in account total. Traders can have a maximum of 150 trades opened at the same time, and the margin call happens at 50%. The account also supports telephone trading.

There are zero commissions for Forex trading. Personalized services are also unavailable, and the cent account is available in a swap-free version.

The margin requirement is very low at 10 US cents and the account is for beginners who are transitioning from demo to live trading.

HFM Zero account

With a maximum leverage of 1:2000 and 0 USD minimum deposit requirement, a zero account is a low-cost solution for all traders. Zero account is also available in a swap-free version. As the name suggests, the Zero account comes with low spreads of 0.0 pips on Forex pairs for a small commission of 0.03 USD per 1k lot. Spreads are also variable depending on the market conditions. Accepted account base currencies include USD, EUR, NGN, and JPY.

The standard lot equals 100,000 units of a currency, and all trading instruments are available. The minimum lot size is 0.01 lots (1,000 units of currency). 60 standard lots per position and 500 trades can be opened simultaneously. Margin call happens at 50% and stop-out at 20%. Supported services include personal account manager, market execution, telephone trading, and personalized service. This account is best suited for scalpers, or traders who want to speculate on short price movements. Scalpers usually close their traders during trading hours and hold positions from several minutes to several hours.

HFM Pro account

The pro account is for traders who want to speculate on Forex and other markets with zero or super-low commissions. HFM pro account has floating spreads from 0.6 pips, which is super competitive and lower than the industry average of 1 pip. Account base currencies include USD, EUR, NGN, and JPY.

The minimum deposit starts from 100 USD or equivalent in base currencies and all other specs are similar to the zero accounts, including the swap-free version. The minimum lot size is 0.01 lots, maximum leverage is capped at 1:2000 depending on the jurisdiction of a trader. Margin call is at 50% and stop-out at 20%.

All services are offered similarly to zero account including personal account manager, market execution, telephone trading, and personalized service. This account is targeted at day traders and swing traders as they prefer small spreads and zero fees because often they might hold positions overnight or even over the weekend.

HFM Premium account

The premium account from HFM is for traders who want to trade on the swap-free account without minimum deposit requirement and commissions. HFM Premium account offers a dedicated trading platform, the HFM App, developed by the broker itself. The minimum deposit, therefore, is 0 USD, the maximum leverage is 1:2000, commissions are zero, and there are no swap fees. Spreads start from 1.2 pips on major pairs, all trading instruments are available, and the execution model is market execution. The minimum lot size is 0.01 standard lots, and traders can open trading positions with 60 standard lots at max. However, the maximum number of trades that can be opened simultaneously is capped at 600. (500×50 = 3,000 lots in total). Margin call and stop-out levels are 50 and 20% respectively.

HFM Top-up Bonus account

The Top-up bonus account was designed for bonuses, meaning traders are eligible for bonuses for each deposit they make. The maximum leverage is capped at 1:1000, spreads start from 1.4 pips, and all trading platforms are supported including the HFM platform. All trading assets are provided for trading including Forex and CFDs, minimum lot size starts from 0.01 lots, and all services are available. The account is available in a swap-free form, offering zero swap fees and 0 USD trading commissions for FX trading. The margin call is also at 50% and stop-out at 20%.

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Most Recent Updates In MetaTrader 4 Build 1350 https://topforexbrokers.net/most-recent-updates-in-metatrader-4-build-1350/?utm_source=rss&utm_medium=rss&utm_campaign=most-recent-updates-in-metatrader-4-build-1350 https://topforexbrokers.net/most-recent-updates-in-metatrader-4-build-1350/#respond Tue, 06 Sep 2022 09:06:01 +0000 https://topforexbrokers.net/?p=60253 If you have a little experience with the FX market, you would definitely hear of MetaTrader 4 which is the most popular platform for Forex trading. Even though you can easily find better and improved trading platforms, this old and very user-friendly structured alternative still remains the leading among the traders. It was released in […]

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If you have a little experience with the FX market, you would definitely hear of MetaTrader 4 which is the most popular platform for Forex trading. Even though you can easily find better and improved trading platforms, this old and very user-friendly structured alternative still remains the leading among the traders.

It was released in the previous decade and quickly became very popular in the financial market. In that period, it was a new light and window for the international traders which would help them to make better market analysis in a global view and trade with different finances easily. MetaTrader 4, the same as MT4, is the largest FX platform that is fully oriented to creating customized and easy-to-use space for every kind of trader.

Because it still is considered an old platform with an old-fashioned style, the owner software decided to increase the level of customization by adding new features to the MT4 platform. One of them is the newest update of MT4 1350, which aims to create a more stable and flexible trading space for every type of user. Before we will introduce the latest news about added features, it is important to have detailed knowledge of what MT4 is and how it helps every trader to maximize their trading profits.

What Is MT4 And How Does It Work?

If you do not know much about the MT4, do not worry, because here we will introduce you in detail. So, as we said this is the popular interface with market analysis, detailed portfolio features, guaranteed safety, and amazing trading probabilities, even for new and inexperienced traders.

It was released in 2005 and is mostly oriented toward FX trading. But if you are interested in trading with CFDs or other indices, you can use the platform too. But if you want to trade with something other than FX, we will advise you to start using MT5, which is the renewed version of MT4 and is mostly oriented on different commodities and stock trading.

After you decide to be part of MT4, you need to create an account and after finishing the simple forms, you can download your page. The process of  is very simple and available for every device. Firstly, you have to create an IG account which will be set up to MT4 later. After having the account, MT4 can be downloaded to your computer as well as your smartphone. You need to fill out the easy form with your IG account data to log in.

Then you can open a position from the orders section. You will see the order window with the different symbols, diagrams, volumes, and amounts of stop loss. In this window, you can choose the market for trading, the specific number of contracts for trading, as well as select amounts of stop loss and profits. You can lock the amounts for a specific level or period, which makes FX trading more opportune and effective to manage. In this section, you can also select the instant execution feature and leave a comment on the specific requirements or conditions.

After you finish the mentioned window requirements, you can place an order and choose the type, place, price, and expiry according to your wishes. It is important to regularly monitor your positions and place orders with simple shortcuts. The information will be shown in detail with the type, symbol, price, swap, and probable profit amounts. You should be flexible and the flexibility is dependent on the market. The trends, as well as actions from traders, permanently change.

It is essential to  and maximize the probable prospects not only with the high amount of profit but also with the level of guarantee. Additionally, as we said, MT4 is popular with its customized charts. You can use different tools to customize them with your notes and goals. Here are different visual elements such as lines, texts, trendlines, and others to draw your notes on the specific chart.

If you want to learn better from your experience, you can always check the trading history with the selected time period. The limit is 10 years. You can download these archive reports to your device as a file and check the history every time.

What Is About MetaTrader 4 1350?

There were several updates in the MT4 platform to improve the quality as well as accessibility for every trader. For example, the availability of different devices was improved in the version of MetaTrader 4 build 1335. Out of this, we have four central updates with the numbers from 1310 to 1340.

The latest update is 1350 which aims to avoid and fix technical issues and errors which were reviewed by platform users. Also, it aims to increase the level of stability and make the trading space more technically improved.

So, if you are just starting the trade on the FX market, you need to download MT4 build 1350 which is the way to trade without technical bugs and errors.

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CySEC Blacklists Unregistered Brokers in the Country https://topforexbrokers.net/cysec-blacklists-unregistered-brokers-in-the-country/?utm_source=rss&utm_medium=rss&utm_campaign=cysec-blacklists-unregistered-brokers-in-the-country https://topforexbrokers.net/cysec-blacklists-unregistered-brokers-in-the-country/#respond Tue, 17 Nov 2020 15:30:04 +0000 https://topforexbrokers.net/?p=25185 The main regulatory body of the financial market of Cyprus, the Cyprus Securities and Exchange Commission, better known as simply CySEC, has recently announced that it has blacklisted more companies because they were not registered properly. The regulatory body of the country noted that most of these companies claimed to be regulated by CySEC, while […]

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The main regulatory body of the financial market of Cyprus, the Cyprus Securities and Exchange Commission, better known as simply CySEC, has recently announced that it has blacklisted more companies because they were not registered properly. The regulatory body of the country noted that most of these companies claimed to be regulated by CySEC, while it was not true.

The Forex regulator has warned traders to not participate in the services that these Forex brokers are offering. The services included the trading of CFDs, crypto, and Forex with the help of online trading platforms. The brokers were not operated by licensed providers, which lead to the decision made by the regulatory body.

As the regulatory body representatives have noted in a special announcement, the companies are part of a bigger scam scheme. One of the major reasons for this is the fact that a huge majority of the brokers that were blacklisted in the country are simply spinoffs of previously blocked companies in the country. A number of companies that were blocked by CySEC were lying that they owned local authorization and had a license to offer services. Because of this, many people fell victim to their schemes.

Blacklisted FX brokers

For instance, one of the companies that were blacklisted by the Cyprus Securities and Exchange Commission claims to be registered in Mauritius and it also notes that it operates in accordance with the requirements of the regulatory body. There also is another broker, which is a New Zealand based broker that was established in 2014 and has authorizations of some European countries.

Most of the companies that were blacklisted are those who have falsely claimed to be working in accordance with the regulatory framework of CySEC. On the other hand, CySEC itself has denied the claims about licenses and blacklisted the Forex brokers.

The regulatory body of Cyprus claims that these companies are not licensed in the country, therefore, they do not have the right to offer their services to the citizens of the country. Also, because traders lost their money with a company that is not authorized nor licensed, they are not protected under the Investor Compensation Fund. ICF is one of the best ways for Forex traders to get back the funds that they have lost for shady reasons, but since the brokers were not regulated by CySEC, ICF can’t help traders.

CySEC has many times said that there are many companies that are not regulated by the agency and claim to be owning their license. Even more than that, most of these companies are not even based in Cyprus and the address that they are providing is many times false. CySEC representatives have said that most of these companies are functioning from overseas. If the companies were based in Cyrpus, CySEC said that they would try to take more steps, but, at this stage, there is not much that can be done.

Because of this, CySEC has said that it is many times very hard to understand who stands behind the companies. Since most of the company representatives are not from Cyprus, CySEC is having a very hard time identifying the people who are part of the scam scheme to protect investors from further scams.

CySEC stands to be one of the best-known Forex regulators around the world. There are tens of different leading companies in the market that are regulated and authorized by the regulatory body. Since CySEC has such a reputation, many scammers are using it for their own good and they are trying to lie to as many people as possible in hopes of stealing their money.

Trading Forex is a very risky business, which means that those who want to be successful at it have to focus a lot on their safety. The market is known to be the biggest one around the world. Official data from 2019 showed that the daily turnover of Forex trading was as much as $5.1 trillion.

Because of its popularity, scammers are very active in this market. Because of the development of the internet, their job has gotten much easier. Now, scam Forex brokers look very identical to legit FX brokers. Some of these scam companies are even using the names of legit Forex brokers to lie to people.

Because of the situation that is in the market today, CySEC has become very active to keep the safety of traders. One thing that the regulatory body does is that it is examining the market very frequently to make sure that if there is something going wrong, they are able to quickly get to local traders and give them accurate information.

The thing about the Forex brokers that CySEC has recently blacklisted is that some of them are not really scammers, however, since they are lying about their regulatory status, CySEC is trying to do its best to safeguard the rights and funds of traders in the country.

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How to Use Fibonacci Ratios to Trade the Currency Market https://topforexbrokers.net/use-fibonacci-ratios-trade-currency-market/?utm_source=rss&utm_medium=rss&utm_campaign=use-fibonacci-ratios-trade-currency-market https://topforexbrokers.net/use-fibonacci-ratios-trade-currency-market/#respond Sun, 29 Mar 2020 10:00:30 +0000 http://topforexbrokers.net/?p=13594 Mathematics plays an integral role in life and the capital markets. The ebbs and flows of market sentiment generate trends and then periods of consolidation. As consolidation occurs, the movements of price action are drawn to specific points, which can be measured using mathematics. One of the most important tools a trader can use to […]

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Mathematics plays an integral role in life and the capital markets. The ebbs and flows of market sentiment generate trends and then periods of consolidation. As consolidation occurs, the movements of price action are drawn to specific points, which can be measured using mathematics. One of the most important tools a trader can use to determine where an asset will find support or resistance is Fibonacci ratios. These ratios are common in forex trading as well as nearly all asset trading.

What are Fibonacci Ratios?

Fibonacci ratios were invented by an Italian mathematician named Leonardo Pisano Bigollo. The ratios are generated from Fibonacci numbers, which are a sequence where each number is the sum of the previous two numbers. 1,1,2,3,5,8,13,21,34 … etc. The Fibonacci ratios are calculated using the Fibonacci numbers. These include 0.382, 0.618, 0.786, 1.0. The Fibonacci ratios are calculated in several ways. A number divided by the previous number approximates 1.618 (13/8=1.625). The approximation nears 1.6180 as the numbers increase. This is referred to as the Golden Ratio. A Fibonacci number divided by the next highest number approximately 0.618.

How are Fibonacci Ratio’s Used?

Through technical analysis, there are many ways to use Fibonacci ratios. The most common are Fibonacci retracements. Most charting software provides access to some of the Fibonacci studies. Fibonacci retracements are ratios used to identify potential inflection points that be reversal points. These ratios are found in the Fibonacci sequence. The most popular Fibonacci Retracements are 61.8% and 38.2%.

What are a Fibonacci Retracements?

A Fibonacci retracement is a point that designates a level where the market is likely to find either support or resistance and possibly reverse. The 4-most common retracements are 23.6%, 38.2%, 50%, and 61.8%. A retracement would respond in a way that one of these levels would likely be a point where an asset price would find support or resistance.

For example, after an asset such as gold rises, you can apply the Fibonacci ratios to define retracement levels and the potential extent of the pullback.

As you can see from the chart of gold, prices rose from August of 2018 to March 2020 and then started to decline. Once the decline commences, you can draw a Fibonacci retracement to see a potential level of support. Fibonacci Retracements can also be applied after a decrease in prices to predict the length of a rebound. The first target of the decline in gold prices is the 38.2% retracement level which appears to be strong support and a level where gold prices rebounded. A retracement level below the 38.2% retracement on gold is 50% and then the 61.8% retracement.

Should Fibonacci Retracement Be Used Alone?

You can use Fibonacci retracements to find specific levels of support and resistance, but they should be used in conjunction with other studies. When an asset is falling, you want to consider whether the price is oversold before you purchase it. You might consider using an oscillator such as a stochastic or the RSI in conjunction with Fibonacci retracements before you pull the trigger on a trade.

Bottom Line

Fibonacci retracements are often used to identify support and resistance levels which might designate the end of a correction or a rebound that is counter to the current trend. There are several common Fibonacci retracements which include a short 23.6% retracements as well as the most common retracements which are the 38.2 and 61.8% zones. Other technical signals can be used to confirm a reversal. You might consider using an oscillator such as a stochastic or the relative strength index to confirm the Fibonacci retracement level.

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What Are the Differences Between the Stock Exchange and Stock CFDs? https://topforexbrokers.net/differences-stock-exchange-stock-cfds/?utm_source=rss&utm_medium=rss&utm_campaign=differences-stock-exchange-stock-cfds https://topforexbrokers.net/differences-stock-exchange-stock-cfds/#respond Wed, 25 Sep 2019 09:43:17 +0000 http://topforextradingbrokers.com/?p=11175 Financial engineering had been one of the reasons why the world managed to evolve so much during the past few decades. Technological developments had fostered the appearance of new financial instruments, and thus, those involved in the industry had been huge beneficiaries. The stock market is where public companies are being traded 5 days a […]

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Financial engineering had been one of the reasons why the world managed to evolve so much during the past few decades. Technological developments had fostered the appearance of new financial instruments, and thus, those involved in the industry had been huge beneficiaries. The stock market is where public companies are being traded 5 days a week, with people trying to profit in many different ways.

Stocks vs. stocks CFD

When you own a company’s stock, you become a shareholder, basically owning a small piece of the underlying business. Stocks are liquid, meaning their prices fluctuate based on supply and demand principles, so you profit when the stock goes up, or when the company pays dividends.

However, trading with physical stocks is not on the taste of all people. Considering that there is an increasing number of companies which do not pay dividends, traders had been attracted by new instruments, some of them being Contracts for Difference (CFDs).

Trading CFDs means you don’t own the underlying instrument and you are able to generate return solely on the rising and falling of the price. Most of the popular trading companies available at the present time offer CFD trading. Although some had developed complex offers, like the trade.com stock exchange DMA trading, most of the traders deal with CFDs.

Most of the platforms who allow access directly to the stock exchanges, work on a commission-based system. For each stock you purchase, you’ll have to pay a commission. In dealing with CFDs, on the other hand, the system is most of the time based on spreads (the difference between the bid and ask price) and an overnight swap.

CFD trading is, thus, a more affordable way to get involved in the stock market without having to own stocks. Although you’re not eligible to receive dividends, you’ll be dealing with volatile instruments, meaning price variations over given periods of time, will be high.

In order to choose the right type of instruments, you must carefully consider some important aspects. How much capital can you commit, which broker is the right for you, what type of strategy will you use (short-term trading or a long-term approach), as well as what are the most suitable trading costs for you. The bottom line is that both stock and CFD trading carry advantages and disadvantages, and it is up to you to decide how can you put them into the balance.

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Australian regulator to bring more transparency into disputes with investment firms https://topforexbrokers.net/australian-regulator-bring-transparency-disputes-investment-firms/?utm_source=rss&utm_medium=rss&utm_campaign=australian-regulator-bring-transparency-disputes-investment-firms https://topforexbrokers.net/australian-regulator-bring-transparency-disputes-investment-firms/#respond Mon, 26 Aug 2019 09:21:18 +0000 http://topforextradingbrokers.com/?p=11078 The Australian Financial Complaints Authority has just been given the go-ahead from the Australian Securities and Investments Commission to fully disclose any and all disputes that have been happening with local investment companies. This means that the AFCA will be gathering data on the frequency of customer complaints with Australian investment firms, and the fields […]

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The Australian Financial Complaints Authority has just been given the go-ahead from the Australian Securities and Investments Commission to fully disclose any and all disputes that have been happening with local investment companies.

This means that the AFCA will be gathering data on the frequency of customer complaints with Australian investment firms, and the fields in which they’re most concentrated in.

This will be done in order to give the consumers the general scope of the situation. For example, if the consumer sees in the data that most refund requests remain unanswered, they can immediately get the ASIC involved before they even file the request.

The AFCA has mentioned that this new law is being implemented for the sake of transparency and better comfort of the consumer. Furthermore, it is believed that the data gathered will help the ASIC to focus future laws or amendments to the local financial legislation in required fields, rather to shoot blindly and hope to hit the most pressing issues.

Potential setbacks

The agencies have already started to consider the potential setbacks or the issues this law may cause to firms involved. One of the most pressing issues is that it could paint an unfair picture for large firms. This could happen because of the disparity between the number of customers. For example, you can’t rate a company with 5 million users the same way you’d rate a company with 5,000 users. Therefore, before the law is completely implemented it will have to undergo several trial periods.

Nothing new for Australian industries

Such a law is nothing new for Aussie business owners, it’s just a quick solution in the financial industry. Such laws have already been introduced to industries like gaming.

In the gaming space, companies are forced to disclose the frequency at which they receive complaints, which are mostly proven not to be the company’s fault.

One of the most prevalent questions that gaming companies were receiving, was the difference between operators’ number of available games. For example, taking a look at the Aussie Betsoft games available here we can see that the whole portfolio is present, however with other providers it may not be the case.

It all boiled down to the operators’ preferences and policies. The way this issue was dealt with was quite simple actually. The regulators provided educational documents to the local population which explained the disparity between available games on different providers.

Could similar issues arise with financial companies?

It’s likely that Aussie consumers will also file complaints based on the company’s available services. For example, it’s been recorded numerous times elsewhere, where customers were very upset about not having high leverage when it was prohibited by state law to have it above a certain point.

Whether it will be up to the FX or CFD brokers to disclose info about the disparity in services is yet to be known, but the AFCA will have to face these queries one way or another.

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Three Basic Trading Strategies for Beginners https://topforexbrokers.net/three-basic-trading-strategies-beginners/?utm_source=rss&utm_medium=rss&utm_campaign=three-basic-trading-strategies-beginners https://topforexbrokers.net/three-basic-trading-strategies-beginners/#respond Tue, 23 Jul 2019 08:27:24 +0000 http://topforextradingbrokers.com/?p=10948 There are many ways to trade the forex markets. Prior to risking your capital, you need to determine the type of trading strategy you plan to use to take advantage of the market. Your strategies could be fundamental where you look for changes in the macro-environment to take a view on a currency pair, or you could use […]

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There are many ways to trade the forex markets. Prior to risking your capital, you need to determine the type of trading strategy you plan to use to take advantage of the marketYour strategies could be fundamental where you look for changes in the macro-environment to take a view on a currency pair, or you could use technical analysis. This is the study of past price action which helps you predict the future movements of a currency pair. Here are three basic trading strategies that a beginning trader can use.

Trend Following

A trend is the movement of price in a specific direction that continues to perpetuate. The markets in theory only trend 30% of the time, which means that it’s important to jump aboard as soon as a trend starts. One of the easiest trend-following strategies to follow is the moving average crossover strategy. A simple moving average is the average of a specific number of days. For example, a ten-day moving average takes the simple average of the past 10-days. On day eleven, the first day in the averaging period is dropped from the calculation. A moving average helps remove some of the choppiness of day to day changes in an exchange rate.

A Simple Moving Average Crossover Strategy

simple moving average crossover strategy tells you to buy an exchange rate when a slower moving average (such as the 10-day moving average) crosses above a longer-term moving average (such as the 40-day moving average). You can see from the chart of the USD/JPY there are several signals that tell you when to purchase the USD/JPY currency pair and when to sell the USD/JPY currency pair.

Trading Strategy Chart

The risk management of this strategy can be as simple as reversing your position when the reverse signal appears.

Exponential Moving Average Crossover

Another similar trading strategy is the exponential moving average crossover strategy. This trading strategy increases the relevance of the recent days, by weighting the current period more than the prior period of the moving average. Since a moving average is a lagging indicator, the exponential moving average attempt to generate a trend signal ahead of a simple moving average crossover trading strategy.

Momentum Trading Strategy

A simple momentum trading strategy is the Moving Average Convergence Divergence Crossover Strategy. The MACD generates a momentum buy and signal.

Momentum Trading

The MACD evaluated momentum by analyzing the difference between a short term moving average (the 12-day moving average) and a longer-term moving average (the 26-day moving average). This is called the MACD line. It then compares this difference (the MACD line) to a moving average of the difference (the MACD signal line). When the MACD line crosses over the MACD signal line a buy signal is generated (green arrows). When the MACD line cross below the MACD signal line (the red arrows), a sell signal is generated. The risk management of this strategy can be as simple as exiting a position when the reverse signal occurs.

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A top 3 list of successful Forex traders in South Africa https://topforexbrokers.net/top-3-list-successful-forex-traders-sa/?utm_source=rss&utm_medium=rss&utm_campaign=top-3-list-successful-forex-traders-sa https://topforexbrokers.net/top-3-list-successful-forex-traders-sa/#respond Wed, 26 Jun 2019 07:01:23 +0000 http://topforextradingbrokers.com/?p=10895 The Forex industry is incredibly easy to get into, but what is the most exciting is the fact that if you keep working in it, working on developing your skills, you will eventually become successful. There are many opportunities that the Forex industry provides for all kinds of people. Students who find themselves to be […]

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The Forex industry is incredibly easy to get into, but what is the most exciting is the fact that if you keep working in it, working on developing your skills, you will eventually become successful. There are many opportunities that the Forex industry provides for all kinds of people. Students who find themselves to be much better at trading than they thought they would be sometimes drop out and devote their full time to working on the markets. People who have been professionals for most of their life and find themselves successful in the markets at 50 quits and keep trading like there is nothing else. And in the case of those who start working in Forex trading South Africa industry, some of them find themselves to be extremely successful.

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The thing with Forex is that anyone can end up being successful in it, as long as they work hard enough and learn enough. Such is the case of the people who we are going to be discussing now. These people come from South Africa and became some of the most successful traders in the country simply by allowing themselves to enjoy the opportunities that the industry provides. Some of them started trading on loans from their friends, others took no deposit bonuses not much different from the XM $30 no deposit bonus, while others simply took the money they had and invested in the industry. Exploring their cases and understanding where the most successful Forex traders in South Africa come from, might provide us with a hint or two on how to ourselves become one of them.

Sandile Shezi

sandile shezi net worthSandile Shezi was a very lucky man long before he had anything to do with becoming part of the list of successful Forex traders in South Africa. Originally from a poor district within South Africa, Sandile used to go to a local school, where he studied just like the other children did. He did not have anything special about him other than the drive to no longer be living in squalor. The school he went to required tuition to be paid regularly. One time Sandile took the tuition that he had to pay for the entire year of study and invested it elsewhere. Specifically, he chose to try his luck on the Forex markets. What followed was a pure stroke of luck. Investing the money, he saw a return that enabled him to change his life and both pay off the tuition and continue trading on the Forex markets.

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This is a very cinematic story, yes. It is as is fate had the turn of luck in store for him, and there was nothing but a life-changing event waiting for him. But while it is a magnificent story, it is important to remember that this was a stupid idea. There is no single situation where it is wise to take the last money you own, the money that you need in order to go to school and spend it on a market that you have no guarantee of gaining returns from. Even  Thankfully, Sandile got way lucky, and now the 26-year-old operates as a full-time Forex trader and is one of the richest Forex traders in South Africa who actually made money from Forex. He currently owns the Global Forex institute. There he teaches young people who want to become traders on how to trade on the markets, the concepts of Forex and other important details about the market that are useful in operating in the Forex industry, such as what makes a good Forex broker to trade with, in South Africa. He is not alone in his mission to educate young South Africans though, and he has had a lot of help over the years.  Specifically, he has had some of the most from one of the most successful South African Forex millionaires and traders, George van der Riet.

George van der Riet

George is just like most other success stories that end up being told within the Forex and investment industries. He was an average man with the big dream of being rich one day. So George, after graduating from school in Capetown, decided it was time to move out of his native land and go on to the UK, see the world. There George grabbed another degree in Finance and ended up working

george van der riet net worth

for several investment companies around the UK as a manager for Foreign Exchange markets. In his years of trading for companies with large capital access she quickly learned how to be a good trader and how to be a good entrepreneur. While he liked trading, he was tired of doing it for other people, so soon enough George quit and moved back to South Africa in order to become one of the best Forex traders in South Africa.

When he arrived, he was immediately seen as a good investment to have as part of your company. While he got some really good offers from companies, George decided that the best thing to do in order to become one of the top Forex traders in SA was to start his own company that would concentrate on investing in Forex. He did so in 2010, barely within a year of his return to his homeland. This is also when he found Sandile and realized that there was a great future for this stroke of luck millionnaire. They started working together and soon enough Sandile managed to become one of the top Forex trading SA millionaires and a good friend to George. Today they operate the Global Forex INstitute together.

Ref Wayne

While the Global Forex Institute is incredibly popular with the locals, it is not the only institution currently seeking to educate young South Africans in the Forex industry The African Forex Institute was founded by Ref Wayne, the main competitor to the title of one of the youngest Forex traders in South Africa. Ref became a millionaire when he started trading Forex at the age of 22 and has since decided to turn his skill with the markets into something that would be useful for the rest of Africa as well. He founded the institute and teaches about Forex, while also writing guides, books and releasing online courses for those who are interested in the industry.

ref wayne net worthHis story is not as glamorous or as cinematic as the one Sandile tells, but it is one of success nevertheless. The story that is interesting comes after that man became regarded as one of the top 10 richest Forex traders in South Africa. He operates several ventures now, with one of his most recent and impressive ventures being the creator of one of the first African Cryptocurrencies called Pip coin. With this invention, he gives back to the community, while also doing good for himself. He says that unemployment within the country is one of the main reasons that drive him to be the entrepreneur that he is today, sharing the success he has with the rest of the country.

Forex trading in South Africa – a growing industry

The industry is quickly growing around the African continent, and it is something to be very excited about. hundreds and thousands of people are going on the internet to try their hand at Forex trading in South Africa. It promises a way for many to make money that they never thought they would be able to make, and it provides an opportunity to many to become something they never thought they would be able to be: one of the successful Forex Traders in South Africa who have managed to make millions on the markets.

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