«Success on Forex depends on many factors, but the first steps are extremely important. It is important to choose a reliable broker; it is important to learn the basic mechanisms of the market; and it is important to avail yourself with proper legal support. All this can be done thanks to the Traders Union, which cooperates with top brokers, provides its traders with basic and fresh analytical materials, as well as unique benefits, such as its own legal department and financial bonuses.»
The Foreign Exchange Market (also Forex market, FX, or currency market) is a decentralized global or OTC (over-the-counter) market for trading currencies.
Five Steps for Forex Success
Registration with Traders Union
Traders Union is the largest association of Forex traders with hundreds of thousands of participants from all over the world.
Registration on the Traders Union website is free. There are no membership fees or other payments, and everything remains the same for a Forex trader.
Choosing a Reliable Forex Broker
Year of foundation.If a brokerage company was established last year, you should not trade with it or seek its advice. It can be promising and offer favorable conditions, but the lack of experience will compromise virtually all transactions between the broker and the trader, especially if an economic crisis or other unpredictable event occurs. A reliable and experienced broker should have been continually in the market for at least five years.
Domain age.Many brokers, while actually working for only 3-5 years, may claim that their firms were founded 10-20 years ago. But to obtain a license, a broker needs an official website. Accordingly, if it entered the market 20 years ago, then the domain should be about 20 years old. Domain data may be easily checked through free services.
License.Because unlicensed Forex brokers do not provide guarantees, they are not accountable to regulating authorities or traders. Having a license indicates that the broker's work is transparent, it has a compensation fund, and the regulatory agencies constantly audit its transactions, activities, and capitalization. Consequently, to reach your Forex goals, you should choose a broker with a license.
Trading conditions.A new trader’s success requires that they must become familiar with, and later master, the concepts and tools such as: minimum deposit, trading platform, broker's commissions on trades, reading analytics and understanding signal providers, PAMM accounts, investment portfolios. Like sports or any other worthwhile activities, you must take the time to absorb the rules, regardless of how blessed you are with natural skills and exceptional acumen. Don’t just master the black letter rules, learn all the nuances, and understand how they suit you and your particular personality and strategies, both tactical and strategic. With regard to additional opportunities, the more opportunities there are, the larger and more reliable the company you plan to work with must be. But again, it does not excuse or replace an in-depth analysis of each offer under consideration.
Trading instruments.Trading instruments are another name for currency pairs, such as dollar/euro, Canadian dollar/ Swiss pound, etc. Always choose a broker that offers many currency pairs, because successful traders do not limit themselves to one or two trading instruments.
Teaching Forex Basics
Getting payments from Traders Union
Note that the insertion of the account number in your personal account on the Traders Union website is necessary for the trader to receive a rebate, which is a return of a part of the spread that the broker charges from his trades as a commission.
Forex Account Funding and Trading
Forex Tools that Help Traders Achieve Success
No deposit bonus.They do not require that you deposit any money to activate your live account. You will immediately receive from the broker a certain amount in your account which you can use to begin trading.
Deposit bonus.When replenishing your personal account, you will receive an “extra” amount as a bonus, or thank you from the broker for choosing it. The amount can be fixed or be a percentage of the amount you replenished.
Promotional.They vary widely. For example, you may receive an extra $300 into your account once you close ten lots; or you might receive a full refund for all negative trades during that day’s trading. These are used as positive incentives to keep you trading on that broker’s platform and to build your loyalty to that broker. To keep up to date on the promotional bonuses, you need to follow the news feed of your broker and to take timely advantage of your benefits or you may lose them.
Contests for Traders
Free VPS Server
Investing in Forex - Passive Earning Option
Copying deals (auto trading).
Protection of the Forex Trader’s Rights
All described services are free once you register on our website and open an account with your selected broker as a Traders Union member.