Successful Trading

  Winning Edge Forex Trading System
Precise, Simple and Profitable Trading System

 

                        How to Choose Good Forex Brokers? 

To trade the currency markets, you need to open a brokerage account with an established and reputable firm. The following information provides you with some guidelines how to choose a better broker.

Low Spreads – The difference between the bid (price received when you sell), and the ask (price you pay to buy), is called the spread and denoted by PIPs. PIPs are the minimum move in increment of a trading currency. In other words, a PIP is the smallest price change for a currency pair. For example, a PIP for USD/CAD is $0.0001, or one basis point.  Lower spread means higher profit for you since your cost to purchase or sell a currency pair is lower. In other words, lower spread means that you pay less for commission.

Solid and reputable broker – A Forex broker is usually backed by a large bank or a quality financial institution due to large needed capital. Leverage is the main feature of Forex trading. Therefore, a Forex broker should have enough capital to provide you large leverage.

Registered broker – Make sure that your broker is registered with the Futures Commission Merchant (FCM at http://www.fcm.gov ) which is regulated by the Commodity Futures Trading Commission (CFTC at http://www.cftc.gov ). You have plenty of information about a registered broker in the CFTC web site.

Higher leverage – Leverage is a double edge sword. As much as it helps you to make significant profits, it could also cause you lose enormous amounts too. However, as a Forex trader, we use the leverage to make your substantial profits with The Winning Edge technique. In realty, making money with a small amount capital is very difficult, even when you are right about the direction of the price trend. For that, you need a broker to provide you with leverage so you could use it to trade currency markets effectively. Naturally, a higher leverage means better chance for you. Some brokers offer 100:1 leverage, meaning for each one dollar in your trading account, you could borrow and use up to $100. Some others may offer you 250:1. Therefore, when choosing a broker, look for the leverage they offer since leverage could be your friend in winning big.
 
Account Type – A broker could offer you two or more different account types. A Mini Account requires the minimum margin or account equity which could be $250 and up. With this account, you could trade a currency but you have less leverage.  Another type of account is a Standard Account which requires $2000 as its minimum equity. This type of account lets you trade bigger size positions. Naturally, a premium account would afford you to trade much larger positions.

Real Time Data - Many Forex brokers offer you real time data with their trading platforms. This could save you some money for subscribing to any real time data vendor.

Charting Tools - A good number of Forex brokers provide you with some useful technical analysis tools and indicators. Of course, most of them, if not all are off the shelf linear indicators and may not have any real value for your trading. To use the Winning Edge Forex System, you will need to use a Trade Station charting program.  The Winning Edge Forex System’s proprietary indicators have been developed for the Trade Station charting platform. To trade Winning Edge Forex System, you need to have Trade Station. The system's proprietary indicators have been written for Trade Station platform.

Avoid Snipers and Hunters – Some brokers are known to snip or hunt which means they buy or sell near preset points. They do that to increase their profits, avoid these brokers. However, the only way you may know who those brokers are would be through talking to your other traders either online or in chat rooms.

No commissions paid for Forex spot.
Forex traders do not pay any commissions for placing Forex spot orders unlike their counterparts trading equities or futures. An equity or futures broker has to execute all orders with a clearing firm registered with the exchanges. A Forex broker is in fact a dealer and not a broker; therefore, he doesn’t have to pay any execution costs to any exchanges. As discussed earlier, they make their money through the spread between the bid and offer price.

   
A sample of trading signals for USD/CHF market:

   
Please click here to read Risk Disclosure.   

Key Benefits

• Day, swing or position trading signals

• Comprehensive manual.

• Precise and objective entry signals.

• Clear exit signals.

• High number of winning trades.

• Course could be take in person, over the phone or on the internet on-line.

• All trainings are one to one for relaxing environment and full attention for each students needs.

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