What is Fundamental Analysis

What is Fundamental Analysis
CM trading’s guide to fundamental analysis

Forex trading success needs a good Forex broker. So how do you take that step and find the right one for you and your trading style?

Here’s our top tips

You can’t just close your eyes and pick a name! This is going to need proper research. There’s a few things to concentrate on.

  • Is the broker correctly registered? This does, of course, vary from country to country, but some light internet research should be enough for you to figure out what certifications and registrations your Forex broker needs to comply with your local law. If they aren’t regulated, don’t go there.
  • How do they operate? While this can be more important for Forex trading for quick profits on limited pips, it’s a good question for any trading strategy. Does the Forex broker use a non-dealing or a dealing desk? Are spreads fixed or not?
  • What leverage is being offered? Each Forex broker will offer different leverage. While it’s too in-depth for this article, you need to be certain that the leverage offered is suitable for your Forex trading style. Less is more if you’re in doubt.
  • What risk capital is needed? Hopefully you are starting with a demo account, but knowing this going in is critical. Micro lots are always a good choice for newbies unless you have over $2000 to put on the table.
  • Are you thinking of holding positions overnight? Find out how the Forex broker handles interest, then.
  • Do they have the value added service you are interested in, such as charting?

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Now we know what to look for, and the information we need. What should we do next?

How do I pick a good forex broker?

Reach out to brokers at this point, and find out if they fit the Forex trading strategy you need. Get yourself a shortlist of the ones who tick all the right boxes for what you need. Now it’s time to open demo account with CM Trading. Don’t focus on one broker just yet. Rather open two or even three demo accounts with the ‘most likely suspects’ from your list. This allows you to experience each Forex trading platform for yourself, and get to learn the ins-and-outs of each. Remember that there will be slight differences between ‘live’ and demo account [the live are usually more reliable, for one] but not so much that you can’t get a good idea if this is the trading platform and the Forex broker for you. Reach out to their customer service at this stage too, as having reliable and friendly customer support on your side is critical.

As you sort through this testing stage, you will being to appreciate which of the accounts you’ve opened are right for you. You’ll also get a good sense of how each brokerage reacts, and whether this is the right Forex broker for your needs and wants…and precious capital.

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Trading Foreign Exchange (Forex) and Contracts for Differences (CFD’s) is highly speculative, carries a high level of risk and may not be suitable for all investors. You may sustain a loss of some or all of your invested capital, therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading on margin.

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