Choosing the best forex broker has just got easier because BrokerComparison has all the information that you need to make an informed decision. There are a number of questions that need answering before you can choose a forex broker. Here are just a few
|$100||1 pip variable||YES||YES||Up to $5000|
|$300||0.9 of a pip variable||YES||YES||Up to $3000|
|$50||3 pip fixed||NO||YES||Up to $10000|
|$100||0.4 of a pip variable||YES||YES||NO|
Which Forex Broker has the best spreads?
All the top forex broker spreads are compared on the same currency pair, the EUR/USD, so it is easy to see which forex brokers offer the best FX spreads. The less spread you pay, the more money you make.
What is Social Trading?
On BrokerComparison.co.uk we have an excellent page on Social Trading Networks, which runs through what a Social Trading Network is, plus how to use a Social Trading Network to become a Portfolio Manager. But in the meantime here is a quick over view. A Social Trading Network gives FX traders with little or no knowledge of trading forex a helping hand. This is done by linking FX traders from all over the world into one big network, allowing the free flow of information between individual FX traders. You can monitor a forex trader’s real time trading statistics and if you like the way that they trade, you can copy or follow them. Once you have started following an FX trader the software automatically places the appropriate forex trades for you in your FX brokerage account, so it’s a really good way to start trading FX. The most popular and the best Social Trading Networks are ZuluTrade and eToro . A detailed overview of the Social Trading Networks is given on our Social Trading Network page.
Can I automate my trading strategy?
You can automate your forex trading strategy through an automated trading platform called Metatrader4 (MT4). Metatrader4 executes and manages your forex trading strategy through a program coded in MQL4 called an Expert Advisor (EAs). So how do you get hold of an Expert Advisor? The difficult way is to learn the programing language MQL4 and write your own. The easy way is to visit mql4.com where they have a wide range of free EAs and a free course on how to write your own EAs in MQL4. There is also an excellent piece of software at ExpertAdvisorBuilder , that allows you to create your own EAs through drop down menus, so no coding knowledge is required. Most top forex brokers that have MT4 as a trading platform offer free and paid EAs. Not only does MT4 execute and manage your live FX trades, you can also backtest your forex trading strategy. This is a great way of finding out if your FX trading strategy makes money or not, before you start trading forex. MT4 will create a Strategy report which will give you all the trading statistics that you need to fine tune your forex trading strategy.
Get a Trading Education
Education is the key to trading Forex. Fortunately BrokerComparioson.co.uk has created a marvelous area called Learn to Trade, which is dedicated to making you a better forex trader. The area is Free and consists of 3 sections: Learn Technical Analysis, Learn Forex and Learn Binary Options. The Learn Technical Analysis area hosts the video course Masters Certificate in Technical Analysis. This is a must see Free 17 Module video course on Technical Analysis. This awesome course covers the basics like Charting, Trend concepts and Oscillators, plus it also takes you through some of the more complex aspects like Elliot Wave Theory and Ichimoku Clouds. The Learn Forex area hosts 14 Forex videos which are your guide through the FX markets. The videos answer questions like ‘What is Forex and how does it work?’ and ‘What is a pip?’. It also covers areas that you may not of thought about, like ‘How to determine your position size’ and ‘Pair Characteristics’. If you are going to be trading the Forex market then this video series is a must see. The Learn Binary Options area is a series of 15 videos which will answer all your questions about Binary Options. The series will take you through what Binary Options are, the different types of Binary Options, the advantages of Binary Options and how to trade them. Before you start trading Binary Options you should really take a look at this excellent series.