There are many benefits to forex trading but, as with any market, there are also associated risks and it should not be entered into lightly. Whilst this article has covered the main advantages of forex trading, it’s also vital that you familiarise yourself with the potential pitfalls to ensure it’s the right decision for you.Forex trading is not a get-rich-quick scheme. Rather, it is a long-term strategy that requires knowledge and a keen understanding of how global events can affect the market.Before you commit to any form of financial investment, you should carry out extensive research and ensure you understand the ins and outs of the market, are familiar with all related technical terms and are comfortable taking speculative risks with your capital.
ikiJob does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Past performance is not indicative of future results. Investing involves risk including the possible loss of principal.Moneta Markets was launched in 2009 to create a brokerage that allows fast and simple access to the markets.Regulated by both ASIC and the FCA, this is considered to be a safe broker that you can trust, whether you are a beginner trader or a professional.With a minimum deposit of $50, traders can buy and sell commodities, indices and CFDs in shares and cryptocurrency. 45 forex pairs are available for trading too
.The STP Account is probably the best choice for beginners, with no commission on trades but fees built into the trade. The True ECN account has tighter spreads but you will pay a round turn commission of about $6 per lot, so this is probably more effective for an experienced trader.Alongside a functional demo account, there is a Moneta Masters course that will help investors that are just starting to learn, through a series of 144 videos.In terms of research, alongside the usual market sentiments, economic calendars and other resources, Moneta TV is a YouTube channel dedicated to all things trading that provides useful information for beginner and experienced traders.Although the True ECN account has costly commission charges. Moneta Markets is a great broker for all types of trading.As a broker that you can trust, XTB is both well-regulated and listed on the stock exchange. The registered office is in Canary Wharf, London.XTB offers investors and traders the opportunity to trade commodities, stocks, metals, forex, indices and cryptocurrencies, as well as ETFs and CFDs, and it is regulated in top-tier jurisdictions by FCA, CySEC, IFSEC and KNF.
Traders can easily open an account online and can choose between the commission-free Standard account or the Pro account that includes tighter spreads, but there is a commission tat needs to be paid on all trades.Deciding what platform to use to make your trades depends on your location – in most countries, you can choose MetaTrader 4 or the proprietary platform xStation (although MT4 is not available to UK customers).XTB is a great choice for beginners thanks to the huge range of educational materials, categorized by level (beginner, intermediate and advanced) and the customer service options that are available only on weekdays.
There is a fully functional demo account so beginners can practice strategies and get used to using the platforms.The more experienced trader will enjoy a huge range of research resources, including trading signals, technical analysis, details about different instruments, and even a heat map and market sentiments.As it takes place in a global and digital landscape, the regulation of foreign exchange is no easy task. Thankfully, though, this works in a trader’s favour and can actually be considered one of the advantages of forex trading. Since there’s no centralised exchange system, independent bodies are responsible for regulation in respective countries. In the UK, this role falls primarily to the Financial Conduct Authority (FCA).
This consumer watchdog ensures that UK brokers are licensed and follow strict guidelines that protect the interests of forex traders using their services. So, although it comes with an element of risk, as with any form of trading, using a UK-regulated forex broker will give you peace of mind that its activities will be fair, transparent and tightly monitored.