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https://www.wikifx.com/en/newsdetail/202211041824655585.html?source=zme3

Abstract：To choose the best forex broker, you must choose the most suitable broker for yourself. There are major factors to consider before choosing a broker. In this article, we will be reviewing the main ones.


　　To choose the best forex broker is to choose the most suitable broker for yourself.

　　There are major factors to look at before choosing a broker. In this article, we will be reeving the main ones.

　　Spreads

　　A broker with the lowest spreads is always attractive, but watch out for marketing techniques. A lower spread advertised on the website does not necessarily mean that you will continuously have the spread.

　　Trading Platform

　　The trading platform directly affects your trading experience. Most solid brokers in todays market use MT4 and MT5 as their main trading platforms.

　　Regulation status

　　A good broker needs to be regulated. This means that the brokers trading behavior is restricted by laws. It is less risky to invest in a regulated broker as your money is protected to some extent.

　　Beware of Scams, False Information

　　Unfortunately, many people incorrectly associate forex trading with scams. The problem is that there is an increasing number of unscrupulous companies marketing false information. The number of Forex-related scams has significantly increased over the last few years, so it's important for you to be able to identify a hoax. After all, Forex trading should be a potentially profitable experience.

　　A good inquiry platform can assist you in finding the best forex broker

　　WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 40,000 global forex brokers. On WikiFX, you can check the regulation status, exposures, and specific data about brokers. Besides, WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is. WikiFX gives you a huge advantage while seeking the best forex brokers

https://www.wikifx.com/en/newsdetail/202211033434693271.html?source=zme3

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https://wikifx1.onelink.me/QUVu/en3

Abstract：If you want to be a successful forex trader, you must first learn how to purchase and sell currency pairs. If you've ever worked in the financial market, you know that time is crucial. To keep making money in forex trading, you have to buy, sell, and trade currency pairs at the right time.

When Should You Buy or Sell In The Forex Market
　　In this post, we will explain how to determine when to buy and sell in forex, as well as how to identify the direction of the trend and discover a solid entry. The chances of profit will be substantially boosted using technical and fundamental analysis.

　　

What currencies may investors purchase and sell？
　　Almost all currencies are available for trading. Currency pairings are classified into three types: major, minor, and exotic.

　　Currency Pairs of Major Importance

　　The most commonly traded currencies in the world are represented by major currency pairings. You can trade them almost constantly because of their high liquidity. Furthermore, while trading these pairs, you will get the lowest spreads or brokerage charges.

　　EUR/USD, USD/JPY, GBP/USD, USD/CHF, USD/CAD, AUD/USD, and NZD/USD are among the major currency pairings.

　　Currency Pairs of Minor Importance

　　A minor currency pair or a cross-currency pair is one that does not contain the US dollar, such as EUR/GBP, EUR/AUD, GBP/JPY, CHF/JPY, NZD/JPY, GBP/CAD, and so on.

　　Currency Pairs from Other Countries

　　A pair of exotic currencies is made up of the currency of a major country and the currency of a country that is still growing. Exotic pairings are less common among investors than major or minor pairs, hence spreads might be greater when trading them.

　　EUR/TRY, USD/HKD, GBP/JPY, CHF/JPY, NZD/JPY, and GBP/CAD are examples of exotic currency pairings.

When Should You Buy and Sell Forex？
　　Choosing when to buy and sell currency pairs is a hard decision that will depend on how you trade. Nonetheless, there are some tried-and-true methods for correctly timing the market.

　　Trend

　　A trend is a propensity for prices to move in one way over time. Long-term, short-term, upward, downward, and even sideways trends are all possible.

　　When exchange rates move in a certain direction, trend traders buy and sell currency pairs. Traders use technical tools like Fibonacci retracements, moving averages, and momentum oscillators to figure out when to join a trend. If the signs are correct, the trader will buy to start a bullish trend and sell to start a bearish trend.

　　Reversal

　　A reversal is a shift in an asset's price direction. A reversal might occur either to the upside or to the downside. Technical indicators are often used to buy, sell, and trade reversals in order to find a possible entry point into a market. A reverse trade is done when a currency pair becomes “overbought” or “oversold.”

　　Range

　　A range-bound market is one in which prices fluctuate between a specified high and a low. Because of the absence of a dominant trend, these marketplaces are sometimes seen as uninteresting.

　　Many traders, however, make money by concentrating on range-bound markets. One typical method is to use reversion-to-the-mean methods.

　　When using a reversion-to-the-mean approach, buying and selling currency pairs is done against an established top or bottom. If the price goes back to a more normal level, selling at the top of the market or buying near the bottom could be a good idea.

　　What is the volume of buying and selling in the Forex market？

　　The currency market is the world's biggest market. According to the Bank for International Settlements' most recent Triennial Central Bank Survey, the average daily trade volume was more than $6.5 trillion.

　　The massive trading volume gives tremendous liquidity to the currency market. This liquidity is advantageous to regular traders since it lowers transaction costs. All trading is done over the counter, which enables deals to be performed 24 hours a day, seven days a week.

　　Conclusion

　　There is no ideal timing to purchase or sell any asset, nor is there a perfect plan for profiting quickly. Traders might attempt to discover the hidden pattern or profit from market inefficiencies. According to scientific studies, combining fundamental and technical analysis yields the best long-term return

https://www.wikifx.com/en/newsdetail/202211026604701941.html?source=zme3

Abstract：There are numerous approaches to analyzing the FX market in preparation for trading. Although there are several areas of analysis, traders should keep the research basic enough to discover excellent trading opportunities.

The Types Of Analysis In Forex
　　

TECHNIQUES OF FOREX ANALYSIS TALKING POINTS:
　　Forex traders use three types of analysis to predict how the market will move and look for patterns.

　　Traders often use one or more FX analysis methodologies to suit their personality and/or trading style.

　　Using the analytical method could be a good way to find trades in a forex practice account.

　　There are numerous approaches to analyzing the FX market in preparation for trading. Although there are several areas of analysis, traders should keep the research basic enough to discover excellent trading chances.

　　This article looks at the three most popular ways to analyze the foreign exchange market:

　　Fundamental analysis, technical analysis, and sentiment analysis.

　　It also shows how they can help you build a trading strategy.

　　Following that, it is up to the individual trader to choose what form of analysis best matches their trading style.

　　THE 3 MOST COMMON FOREX MARKET ANALYSIS TYPES:

　　1) Fundamental

　　Forex fundamentals revolve mostly around the currency's interest rate. This is because interest rates have a significant impact on the FX market. Other important elements include gross domestic product, inflation, manufacturing, and economic growth activities. However, whether those other basic releases are positive or negative is less important than how they impact the country's interest rate.

　　When traders look at fundamental news, they should think about how it might affect interest rate changes in the future. When investors are looking for risk, money follows yield (currency with a higher interest rate), and higher rates may signify more investment. When investors are risk-averse, money flees yield in search of safe-haven currencies.

　　2) Technical

　　Technical Forex analysis is examining price history patterns to find the most likely time and location to start and exit a deal. Because of this, technical analysis is one of the most common ways to look at the forex market.

　　Because FX is one of the biggest and most liquid markets, price movement on a chart may often reveal hidden levels of supply and demand. If you look at the price chart, you might notice other patterns, like which currencies are going up or down the most. The GBP/USD chart below shows an illustration of this, with the US dollar gaining versus the Pound Sterling.

　　Indicators may also be used to undertake other technical research. Because the signals are easy to understand and make forex trading easier, many traders choose to use them.

　　The distinction between technical and fundamental analysis in forex is a hotly discussed issue. There is no correct answer to the issue of whether a style of analysis is superior, and traders often use one or a mix of the two.

　　3) Sentiment

　　Another frequent kind of analysis is forex sentiment. When sentiment is predominantly in one way, it suggests that the great majority of traders are already committed to that position.

　　Perhaps an example will help to clarify this. Assume that the majority of traders and investors are positive on the Euro. They believe the Euro will rise. We can see that the EUR/USD sentiment indicates that the majority of traders are buyers in the currency pair.

　　Given that there is a big pool of traders who have previously BOUGHT, we may assume that these purchasers will be a future supply of selling. We know this because they will ultimately seek to conclude the transaction. As a result, the EUR/USD is susceptible to a severe drop if these purchasers turn around and sell to finish off their positions

https://www.wikifx.com/en/newsdetail/202211017704630068.html?source=zme3

Abstract：To earn money, financial experts purchase and sell financial products on the same day. Day traders often employ a variety of tools to assist them to make the best stock judgments and succeed in their responsibilities on a daily basis.

Day Trading Tools and Guides Plus Important Skills To Acquire
　　If you're interested in day trading, learning more about typical day trading tools that may help you succeed might be beneficial.

　　What exactly is a day trader？

　　A day trader is a financial expert who buys and sells financial assets quickly to take advantage of daily changes in the stock market and reduce the risk of losing money. As official day traders, they often operate individually or for a big financial organization.

　　Day traders spend their days buying and selling financial assets, which include both short and long deals. A day trader often holds a financial instrument for a few seconds to a few hours before selling it at the end of the day.

　　Day traders' specific responsibilities differ depending on where they work, but they always entail stock trading and arranging sales and trades for the benefit of their own or their company's finances. The following are typical day trader responsibilities:

　　Monitoring stock market trends

　　Purchasing stocks

　　Conducting trades at a fast pace

　　Tracking fluctuations in the economy

　　Funding trades

　　Selling stocks

　　What exactly are day trading tools？

　　Day trading tools are industry-specific applications or accessories that help day traders with their duties. They may assist in obtaining the most recent stock market information and providing information critical to their decision-making. These tools often include various forms of software, electronic devices, calculators, and technologies that aid in calculating, data tracking, and data analysis.

　　These technologies often enable day traders to improve their work performance by giving them benefits and opportunities, such as specific stock market data, that they would not have otherwise. They may be particularly beneficial to inexperienced day traders who lack familiarity with trends and forecasting.

　　Why should you utilize day trading tools？

　　Day trading tools may be used for a number of purposes, including:

　　Performing calculations

　　Facilitating stock trades

　　Determining which stocks to trade

　　Storing and saving certain financial assets

　　Researching the market and economic trends

　　Moving funds

　　6-day trading tools

　　Professionals might utilize a range of various day trading tools in their employment. These tools often include electronic and digital tools, as well as physical tools.

　　Software for stock scanning

　　Day traders often employ stock-scanning tools to help them locate particular equities to trade. Day traders may often use this software to define criteria and requirements that determine which equities to trade. They may look for criteria like top gainers and losers, volume increases, and bull flags.

　　Online brokers

　　Day traders need an online broker to assist with their transactions and enable them to do their duties. Most professionals in this job have access to many online brokering platforms, allowing them to choose the one that best meets their individual stock trading demands. Financial firms often provide online brokering tools and software for day traders to use, although they may charge more charges and provide less customization. Smaller licensed brokers may provide cheaper or no-commission trading. Brokers utilize various kinds of software and have access to various marketplaces, so do your homework before making a decision.

　　Stock market dashboard

　　Being able to see diverse components of the stock market at all times is usually required for effective day trading. As a result, day traders often use stock market dashboard tools, which aggregate daily stock and market data and show it in a single, readily visible, and accessible dashboard. This provides a simple and effective method of raising stock market knowledge.

　　Digital calculators

　　For doing day trading calculations, both basic and complicated scientific calculators are required. Professionals in this field often have both kinds of digital calculators on hand to do rapid calculations and calculate how much money they may make or lose while trading stocks. Day traders often keep these tools on their PCs as well as their mobile devices, like tablets and smartphones, for quick access.

　　Day trading Software

　　A day trader's crucial everyday tool is day trading software. This program makes stock trading and financial transfers easier. Day traders frequently employ numerous kinds of software to assist them to succeed in their roles, including:

　　Charting software

　　Online brokering software

　　Scanning software

　　News Dashboard

　　It is often necessary for day traders to watch any breaking stock market news. This may raise their understanding of the market and economic swings, as well as the perspectives of field specialists. Day traders often utilize news dashboard solutions to aggregate certain news websites so experts may readily access relevant content.

　　What abilities do day traders possess？

　　Day traders often share a skill set that helps them to excel in their positions. This list often includes both hard talents, such as field-specific and technical abilities, and soft skills, such as:

　　Analytical skills: Day traders are required to analyze the market and economic trends so that they can make educated trading decisions. Their analytical skills allow them to understand trends and take quick, decisive actions.

　　Math skills: Being able to quickly and effectively perform mathematical calculations and understand statistics is critical to success as a day trader. An advanced understanding of math is usually a requirement for the role.

　　Critical thinking: Lots of trading scenarios require day traders to review context and external factors so they can make the best trading decisions. This often requires them to have excellent critical thinking skills.

　　Decision-making: Day traders are responsible for making quick, educated decisions about finances and trading stocks, so they're typically skilled in decision-making.

https://www.wikifx.com/en/newsdetail/202210312124557650.html?source=zme3

Abstract：You may use a trading notebook as a tool to keep a record of every deal you make. It may be kept online or in a physical diary and can be as thorough as you choose. Surprisingly, a lot of individuals disregard the advantages that could be theirs if they kept trading notebooks because they believe that they are a gimmick.


　　You may use a trading notebook as a tool to keep a record of every deal you make. It may be kept online or in a physical diary and can be as thorough as you choose. Surprisingly, a lot of individuals disregard the advantages that could be theirs if they kept trading notebooks because they believe that they are a gimmick.

　　The opportunity to track and analyze your progress, identify which of your tactics and systems have the greatest success, and identify areas that need work are just a few of the many advantages of keeping a trading diary. Even before you jump in, Trading Journals may be used to test the waters.

　　Before you start trading and write in your trading journal. You should first find a forex broker. Be careful, there are many broker scams out there. WikiFX allows you to research and verify your broker in one convenient place. Brokers are ranked based on their regulations and services. The WikiFX app is download-able in the appstore and playstore.

　　Let's look at how to maintain a decent trading diary that will be helpful to you in the long run before we look at 10 advantages of utilizing a trading notebook.

　　Keep a Trading Journal: How to Do It

　　trading diary

　　trading diary

　　A solid trading journal should include details on each and every single deal you make. Since the trading notebook is not something you preserve as a source of pride or as evidence of your accomplishments, you must not exclude a deal for any reason. Your trading notebook will assist you in identifying and addressing any shortcomings in your trading process.

　　Remember to include as much pertinent information about each deal as you can while composing your trading notebook. Along with mentioning the gain or loss, you should also explain why you went long or short and why you were right or wrong. When you go down to evaluate your trading notebook, you will have a ton of information if you do it this way.

　　However, it's crucial to avoid being too specific because doing so could make it more difficult to adhere to in the long term.

　　The following details for each trade are something you may write in your trading journal:

　　Date

　　Name of security

　　Number of shares/Total investment

　　Description of trading signals

　　Description of the entry and exit signals

　　Stops used and reasoning behind them

　　Total gain/loss from the trade

　　Writing down your feelings when maintaining a trade notebook is one more thing you should strive to accomplish. It is helpful to record your feelings about the transaction before, during, and after you placed it, both generally and explicitly.

　　The review phase will benefit greatly from keeping track of your emotions since, once you become aware of them, you may learn to regulate them. Once you've managed your feelings, you'll be less prone to make snap judgments that will only hurt your trading.

　　How Can Trading Journals Help You？

　　Keep in mind that consistency is necessary if you want to fully profit from a trading notebook.

　　You won't be able to fully use it throughout the review phase unless you keep a totally objective and thorough notebook!

　　The following are a few of a trading journal's major advantages:

　　1. A Trading Journal Aids in Determining the Viability of Each Setup

　　Every trader has a variety of setups that they may use, depending on the circumstance. Many traders, however, are unaware that they can be more adept at employing some setups than others.

　　For instance, certain traders would undoubtedly do better in trending markets than in mean reverting ones, while others may possess talents better suited for range-bound markets.

　　When you have a few months' worth of data (preferably at least three months' worth), you can open your trading notebook and examine each individual system to see whether or not it has been profitable for you. 3 months is a considerable amount of time to evaluate a system's viability, particularly if you are a day trader.

　　It is important to use such strategies more frequently when you see that they are more advantageous for you in order to increase your profits.

　　2. Using a trading diary can help you improve your weak points

　　Simply because a given system works for you does not mean you should abandon all other systems and utilize only that one. Trading systems do, in reality, take a long time to create and do serve some use. Every trading strategy ultimately fails and must be updated. Keeping this in mind, it's crucial that you always look for fresh approaches to replace the old ones.

　　Trading systems, even for simple techniques, may occasionally be rather difficult to understand when seeking for fresh approaches. As a result, it's possible that you misunderstood the system or are failing to apply it appropriately.

　　Fortunately, you have the trade journal available to you. Review each deal in detail to see where you made mistakes and how you may avoid them in the future.

　　You may compare the results of the two periods when it's time to check your trading notebook again to determine if you made any progress.

　　3. You Compile Sector-Specific Information

　　You could discover that you have a natural talent for predicting oil prices. Another possibility is that you are far more adept at trading airline stocks than IT companies due to your background in the aviation sector.

　　A trading log helps ensure that you are aware of your areas of strength even though many traders are able to recognize markets in which they have an innate edge.

　　You may evaluate the transactions you made in each particular sector or category of securities when you reach the review stage of your trading diary. You will be able to choose which industry you can be the most successful in in this method.

　　Keep in mind that you have further options for dividing up your trading of assets. For instance, you could be very educated about computers and adept at trading stocks of computer manufacturers, but you might be less experienced with cloud-based businesses. Although cloud computing firms like Dropbox and companies that manufacture computers like Dell are both classified as tech stocks, they are extremely different from one another.

　　4. Using a trading journal to create incremental goals

　　Benefit: Benefit of Goal Setting: Setting Goals

　　To avoid putting too much pressure on yourself while you are still learning, you might establish objectives that are just a little bit better than your prior ones.

　　You may make fantastic decisions about your goals, how you will track your progress (such as the timeline), and what you will do to reach your objectives by keeping a diary.

　　A trade notebook might be useful in this situation since it can highlight the areas that require improvement if you want to achieve your next objective. For instance, it can turn out that external reasons are to blame for your poor performance in the stock market, in which case it might be time for you to take a break from stocks and concentrate on other investments for a while.

　　5. A Virtual Portfolio Can Be Maintained in a Trading Journal

　　Although there are many online tools that may assist you in creating a virtual portfolio, a trading journal can also be quite helpful in this respect. Beginners can start a trading diary with a fictitious sum of money ($100,000 is an excellent place to start) to see if they can outperform the market or not. It could be the right moment to start employing real money if you are successful in the market. Just be aware that trading a virtual portfolio does not subject you to the same psychological strain as actual trading.

　　Even seasoned traders might benefit from using a virtual trading notebook. A trading notebook, for instance, may be a useful practice tool while you learn the ins and outs of the futures market if you are an experienced stock market trader who wants to diversify into the futures market. You can eventually start trading with real money after you are consistently able to turn a profit in your trading diary.

　　Keep in mind that brokerage costs must be taken into account if you are managing a virtual portfolio in your trading journal in order to have proper results.

　　6. Using a Trading Journal to Track Potential Growth Stocks

　　A trading log could be helpful if you're someone who wants to make long-term investments in growth companies. Instead of buying the stock, you may start recording all the information you can about it in your trading diary, including the patterns and the dangers related to buying the aforementioned stock.

　　You need to have access to enough information after a few weeks or months to make a credible attempt at forecasting the stock price. You can invest using this knowledge as your basis. But keep in mind that investing in growth firms typically necessitates a fundamental rather than a technical approach to the stock market.

　　7. Keeping a trading journal makes you responsible

　　You are less likely to make deals that are not in line with your trading strategy if you keep a trading log. The impulsive trade is often what leads most traders to lose money.

　　As a result, being able to reflect on instances in the past where you deviated from your trading strategy and suffered losses may be beneficial to you the next time you are prepared to do the same.

　　8. A Trading Journal Aids in More Effective Risk Management

　　Risk Associated With Trading Journals

　　Many individuals are unaware of how much money their risk management strategy is costing them. You may, for instance, use the same risk management approach for both small and large deals. This might not be a good idea because bigger deals require more caution and could wind up costing you a lot more money.

　　A trade log enables you to identify any potential areas for risk management errors. Setting the stop loss too close to the present price may indicate that you are not taking a significant enough risk to provide a significant return or that your position is too tiny to produce any type of meaningful gain.

　　The contrary can also be true, and you might opt to reduce the size of your position after some time of writing if you discover that you cannot handle the violent swings!

　　9. A Trading Journal Aids in Understanding Trading Psychology

　　Many people have mental barriers that prevent them from taking chances. Keep in mind that you must take enough risk in order to get substantial profits.

　　Emotions in general greatly influence your trading (especially if you are a day trader). Keeping a trading notebook will help you identify any instances in which your emotions are getting the better of you.

　　A trading log, for instance, can show you whether you ever lose your temper and start making foolish deals to make up for your losses. If you keep a trading log, you may also notice if you tend to make hasty judgments following a string of profitable deals (and vice versa).

　　10. Maintain Consistency with a Trading Journal

　　Your bad habits will eventually start to fade as you continue to use your trading journal, and you won't make foolish financial decisions as frequently. This is due to the fact that you will be able to identify the errors you are making and will be more careful to try to avoid them in subsequent trading sessions.

　　Only after utilizing a trading notebook for a while will some errors become apparent. In order to fully profit from it, it is crucial that you maintain an accurate trading log in which all of your trades are recorded.

　　To sum up

　　It is obvious that keeping a trading notebook provides a wide range of advantages. Both novice and experienced traders are advised to keep a log of their trading. The wonderful thing about trading is that you can never be perfect, no matter how talented you are. As a result, there is always room for improvement.

　　No matter how good your trading journal is, it wont matter if your broker is camming you. Dont forget to download the WikiFX app before you start trading.

　　Remember that maintaining a trading log needs some discipline, and discipline can only make you a better trader in the long run. It may be challenging at first to keep track of every single trade you make (particularly if you are a day trader).

https://www.wikifx.com/en/newsdetail/202210255724819631.html

Abstract：To become a successful trader, it is important to know the limit, so some forex trading tips are listed below to help guide you in the right direction. It’s most important to know when to stop the transaction. Crucially, it can be a disaster for trading emotions such as greed to make you better.

Limit for trader: Order suspension and restriction.
　　High leverage can provide huge profits to investors, but there is always a possibility of facing huge losses. Two of the major orders executed by traders are ‘stop’ and ‘restricted’ orders, which help you better manage your position in the market.

　　Designated price orders can set the minimum or maximum price to buy or sell. Conversely, a stop order allows you to set the specific price you want to purchase or sell. In other words, it cannot exceed the price. If you are an investor with a short position, set a price limit. Current market price as the first goal below. To manage this, you can place a stop order on the current price.

　　If youre an investor with a long position, set the price limit. Current market price so that you can benefit from it above. Then, you can limit position loss by setting a stop order under the current price.

　　Stop and limit orders are a good way to benefit as traders and limit margin calls, and everything is automated when positions are activated. These orders are very flexible and can be modified at any time depending on the current market situation.

Follow-up stop.
　　The main purpose of the trekking stop is to eliminate the need to coordinate and intervene when the market moves. In other words, you can make profits and get out of the deal. Traders want to say “reduce losses and make profits.” In short, this is where trailing stop orders can come in.

　　As we said, unlike regular stop orders, follow-up stops can be set up in advance to move with the market, so you can follow market trends without having to constantly check whats going on.

　　Subsequent suspension changes the suspension loss to the break-even price (or initial price). In other words, if the GBP/USD currency pair is reversed and disadvantageous, it can protect the profits already earned in the initial position.

https://www.wikifx.com/en/newsdetail/202210289564486002.html?source=zme3

Abstract：NEWS FROM MOSSEL BAY - Third-party risk is present in all financial market trading and investing activities. The safety of your delegated funds depends heavily on the broker you choose to trade or invest with.


　　NEWS FROM MOSSEL BAY - Third-party risk is present in all financial market trading and investing activities. The safety of your delegated funds depends heavily on the broker you choose to trade or invest with.

　　Trading and investing scams are at an all-time high in South Africa due to the extraordinary increase in the participation of retail traders and investors.

　　There will always be a third-party risk if a third party processes the trade transaction. However, if you properly investigate the broker's legitimacy, the third-party risk can be reduced to lower levels.

　　The best way to review your broker is by researching them on the WikiFX app. WikiFX allows traders to research and review the broker from a reliable source.

　　There are several methods you may determine whether the broker you've selected is trustworthy or not. Here is a list of important things you should think about before making any deposits with any brokerage or investment.

　　Verify Your Broker's Registration

　　In South Africa, almost all financial markets are controlled. It is not necessary, nevertheless, for your broker to be subject to regulation by the relevant authorities. As a result, it is the responsibility of traders and investors to understand the regulatory licenses that the broker holds.

　　The Johannesburg Stock Exchange requires members to provide stocks and their derivatives (JSE). Without JSE's approval, none of the brokers are able to properly provide stockbroking services in South Africa. In South Africa, the Financial Sector Conduct Authority (FSCA) supervises FX and CFD brokers and also keeps an eye on how the JSE and the Capital Markets are run.

　　The two main laws governing the capital markets in SA are JSE and FSCA. Depending on the services they perform, such as brokerage or financial services, certain individuals may additionally possess extra licenses. The South African Reserve Bank must provide licenses to banks and insurance companies (SARB).

　　In South Africa, brokers without a JSE or FSCA license are extremely likely to be frauds or fakes. South Africans should stay away from brokers who are regulated abroad but not locally.

　　A licensed broker must have an FSP number or license number specified in the documents or footnote of their website, according to Safe Forex Brokers South Africa. On the websites of financial regulators, these figures may be cross-checked for accuracy. False brokers frequently employ fabricated paperwork or fake FSP numbers.

　　For instance, you may check a broker's FSP number in the public search of the FSCA and view the items for which it has been approved.

　　Have a discussion and ask the broker questions.

　　You may get a sense of their service and quality by striking up a brief chat with the customer care representatives. Scammers or fake brokers typically forbid customers from getting in touch with them or asking specific questions about their regulation, trading costs, or withdrawals.

　　Before opening the account, engage the broker in a live chat or vocal conversation to ascertain their responsiveness and transparency. You may learn more about the broker thanks to this as well.

　　You can enquire with them on their rules, commissions, spreads, available leverage, deposits, withdrawals, etc. A trustworthy and knowledgeable broker must respond to each question posed by the customer.

　　Cold, unsolicited contracts

　　Investors and traders shouldn't gamble with their hard-earned money on unauthorized advice.

　　If a broker contacts you frequently and requests deposits, this is a huge warning sign. Any broker that comes to you first or attempts to get you to make a deposit or start an account with them could not be reputable.

　　In the capital market, con artists frequently attempt to persuade traders and investors to become their victims. They may entice customers by making unrealistic returns, unreasonable risks, extravagant incentives, or other alluring claims.

　　Such unsolicited ads or recommendations should be avoided by traders and investors.


　　Review forums and online testimonials

　　Many significant and helpful facts about a broker may be found with just a quick web search.

　　Online forums frequently debate the services provided by the broker. It might outline user experience and frequent problems encountered by current clients.

　　Investors in South Africa can also look for expert and qualified reviews online. Although every aspect is well covered in the reviews, some reviews may be prejudiced.

　　Conduct research

　　Your financial selections can benefit substantially from a short time investment in study and education. One must conduct comprehensive online research to look for red and green signals before making a deposit or creating an account. A quick Google search might enable you to identify a fraud.

　　The regulating body can check to see if the broker has ever been the subject of documented complaints in the past. Press releases on complaints or advisories against brokers are publicly released by the FSCA, JSE, or any other relevant regulatory body.

　　Additionally, clients must verify the broker's ownership information and financial accounts. You can research a broker's experience, complaints against the firm or owners, and the length of time the company has been in operation. The ownership structure and audited financial accounts of reputable brokers may be seen online.

　　Genuine brokers make all of their licenses, financial accounts, paperwork, user agreements, and other information available. Cross-checking this information with sources from third parties and the regulator's website is required. Only until you are satisfied with your own study should you make a deposit.

　　WikiFX allows traders to view all of this information in one convenient and reliable place. They do their own research and provide and score for traders to use when they want to research their broker. WikiFX is helping to prevent scams and bad service in the forex industry. The app is available on Play Store and Istore.

https://www.wikifx.com/en/newsdetail/202210285374822430.html?source=zme3

Abstract：Although the term “prop firm” is commonly seen within the forex industry, many do not know what exactly a forex prop firm (or a proprietary firm) is.


　　To put it in simple terms, a prop firm is a business or company that provides retail traders with a chance to use their individual skills to trade for them while offering them a certain percentage of profit in return for their effort.

　　Usually, a prop firm offers a variety of trading instruments for a trader to choose from, such as equities, currency pairs, commodities, futures/indices, and derivatives. Firstly, the trader has to go through a round of strict verification (this could be called “a challenge”) of their identity and skillset to make sure that they are a highly consistent and profitable trader who could potentially generate positive returns for the prop firm. Normally, the participating trader will be trading off a demo account for a period of time and his or her result will speak for itself.

　　After the trader passes the evaluation phase, then the prop firm will be providing a certain amount of predetermined capital that usually comes with a specific percentage of profit sharing if the trader could perform.


　　Trading with a prop firm typically entails paying a cost of some form, whether it is an initial assessment fee or a monthly fee to continue trading using the business' money. The profit that could be shared among the trader and the prop firm is after deducting these relevant costs and expenses.

　　A Forex trader working for a prop firm will typically split profits according to a formula like 60%/40% or something comparable. This agreement could vary between each prop firm. However, generally, a trader who can generate extraordinary positive results can stand a chance to negotiate a higher profit cut with the prop firm.

　　A Forex prop firm is, all things considered, one of the best ways for a self-assured, successful trader to obtain funding and begin making money on the foreign exchange market.

　　The benefits and drawbacks of FX prop trading must be considered, though. Prop trading is undoubtedly not for everyone, thus such trading only makes sense if the advantages outweigh the disadvantages in your situation.

https://www.wikifx.com/en/newsdetail/202210271234718112.html

Abstract：Simply put, a bear market is one in which prices are heading down and a bull market is used to describe conditions in which prices are rising.

What Happens in a Bull Market？
　　When the bulls reign in the market, people are looking to invest money; confidence is high and the acceptance of risk generally goes up.

　　This leads to rises in various markets – particularly in stock markets, but also in FX currencies such as the Australian dollar (AUD), Canadian dollar (CAD), New Zealand dollar (NZD), and emerging market currencies. Conversely, bull markets typically lead to a decline in safe-haven currencies such as the Japanese yen, the Swiss franc (CHF) and, in some cases, the U.S. dollar.

　　The U.S. dollar (USD) and Japanese yen (JPY) are safe-haven currencies and tend to strengthen in a bear market as riskier instruments are sold off and safe-haven currencies are in demand.

　　Why Does It Matter to You？

　　One of the key benefits of forex trading is the opportunity it offers traders in both bull and bear markets. This is because forex trading is always done in pairs, when one currency is weakening the other is strengthening thereby allowing you to take advantage of rising and falling markets.

　　Bull and bear markets are important to pay attention to as they can determine currency market trends. By being aware of market trends, can help you to make the best decisions of how to manage risk and gain a better understanding of when it is best to enter and exit your trades.

　　In a bull market, traders are looking to enter the market when prices are rising so that they can sell once they believe the market has reached its peak.What Happens in a Bear Market？

　　

　　Bearish markets follow a downward trend as investors sell riskier assets such as stocks and less-liquid currencies such as those from emerging markets.

　　In a bear market, traders are looking to enter the market when prices are falling so that they can buy once they believe that market has reached its peak.

　　

　　The U.S. dollar (USD) and Japanese yen (JPY) are safe-haven currencies and tend to strengthen in a bear market as riskier instruments are sold off and safe-haven currencies are in demand.

　　Why Does It Matter to You？

　　One of the key benefits of forex trading is the opportunity it offers traders in both bull and bear markets. This is because forex trading is always done in pairs, when one currency is weakening the other is strengthening thereby allowing you to take advantage of rising and falling markets.

　　Bull and bear markets are important to pay attention to as they can determine currency market trends. By being aware of market trends, can help you to make the best decisions of how to manage risk and gain a better understanding of when it is best to enter and exit your trades.

https://www.wikifx.com/en/newsdetail/202210258064796069.html?source=zme3

Abstract：There is no one best way to trade the news. When news breaks, the price often jumps in one way or reacts slowly to the information as traders assess the result in comparison to market expectations.


　　There is no one best way to trade the news.

　　When news breaks, the price often jumps in one way or reacts slowly to the information as traders assess the result in comparison to market expectations.

　　With this knowledge, there are two primary ways to trade the news:

　　1) Having a bias in one way

　　b) Possessing an asymmetric bias

　　Orientational Bias

　　When you have a directional bias, you anticipate that the market will move in a particular way when the news is announced.

　　Knowing what news stories will impact the market is important when looking for a trade opportunity in a certain direction.

　　Actual vs. Consensus Number

　　Analysts will make some sort of prediction about the figures that will be announced days or even weeks before a news item is published.

　　This number will vary depending on the analyst, as we discussed in a previous session, but there will typically be one that the vast majority of them agree on.

　　A consensus number is this one.

　　The number that is provided when a news story is made public is referred to as the real number.

　　“Buy the rumor, sell on the news,” they say.

　　This idiom is frequently heard while talking about the forex market since it frequently seems as when a news report is out, the movement doesn't correspond to what the report would have you believe.

　　Let's take the case where it is anticipated that the unemployment rate in the US will rise. Consider a scenario in which the consensus for the forthcoming report is 9.0% and the unemployment rate was 8.8% in the previous month.

　　A consensus of 9.0% indicates that major market participants anticipate a worse U.S. economy, which would lead to a lower dollar.

　　Big market participants won't wait until the report is actually out to start acting and taking a position as a result of this expectation.

　　Before the real figure is disclosed, they will start selling their dollars for other currencies.

　　Let's imagine the actual unemployment rate is reported to be 9.0%, as was predicted.

　　Upon seeing this, a retail trader could say, Okay, this is awful news for the U.S. The moment has come to short the dollar.

　　However, you discover that the markets aren't quite going in the direction you expected when you log on to your trading site to begin selling the dollar.

　　In fact, it's rising!

　　This is due to the fact that the major players have altered their positions long before the news story ever broke and may now be profiting from the news event itself.

　　Let's take a look at this scenario again, but this time suppose that the report actually revealed an unemployment rate of 8.0%.

　　Because of the consensus, market participants anticipated that the unemployment rate would increase to 9.0%. However, the data revealed that the rate actually declined, demonstrating the strength of the dollar.

　　Because the major market participants weren't expecting this to occur, what you would see on your charts would be a massive dollar rise across the board.

　　They are all attempting to change their opinions as quickly as possible now that the report has been issued and it says something completely different from what they had anticipated.

　　The same thing would occur if the report's actual unemployment rate was 10.0%.

　　The only difference would be that the dollar would crash instead of rising!

　　The large players would sell more of their dollars as the market consensus was 9.0% but the actual report revealed a higher unemployment rate of 10.0% since the U.S. now appears to be much weaker than it did when the projections were initially made.

　　You can better predict which news items will really cause the market to move and in which direction by keeping track of both the market consensus and the actual figures.

　　unbiased without direction

　　The non-directional bias method is a more popular news trading tactic.

　　This approach ignores directional bias and just takes advantage of the fact that a significant news event will precipitate a significant shift.

　　The direction of the currency market's movement is irrelevant. All we want is to be present when it happens!

　　This implies that you have a plan in place to enter that trade whenever the market swings in either direction.

　　Non-directional bias refers to the lack of a prejudice on whether the price will increase or decrease.

https://www.wikifx.com/en/newsdetail/202210252784530998.html?source=zme3

Abstract：Profit without [url]risk[/url] is impossible on trading. People who don’t want to take risks should stay away from here.






　　This question cannot be answered in a generalized way because risks are determined by the trader themselves. A trader must decide how much money they are willing to invest and probably lose. One can trade the market for a small or large amount.

How dangerous is forex trading？

　　The foreign exchange market is the most traded market in the world. The risk is not very high because volatility is very low unlike other markets. Daily fluctuations are generally less than 1 of assets. However, leverage can greatly increase the risk. Overall, each merchant has to answer himself whether currency transactions are dangerous. There is no standard concept here.

Forex Trading Tips & Tricks: Limiting Risk

　　Forex trading is very simple at first glance. However, it is very important to learn as good a strategy as possible for transactions. 3 mistakes are being done again by merchants. It can also be read on other forums. It is very important to have a fixed set of rules at first. Learn from the mistakes youve already made to maximize your profits.

　　You need to know the business hours of the market. The forex market is open 24 hours a week, but trading a particular pair of currencies at night, for example, is almost meaningless. Prices at irregular times are mainly determined by algorithms. This can lead to many loss transactions.

　　Dangerous:

　　As a trader, you must follow reasonable risk management. Many traders change their risks every day. Its very useful to make plans and not take too much risk in your account. Accounts must grow sustainably.

　　Correct Broker:

　　As a trader, you should choose a good forex broker. Many merchants trade at too high a fee. This just makes brokers rich and poor. Unnecessary costs must be avoided.

https://www.wikifx.com/en/newsdetail/202210215984189118.html?source=zme3

Abstract：Your whole trading history is documented in a trading diary. It entails recording the outcomes of each deal so that you may subsequently evaluate your overall performance. Keeping such thorough records also enables you to make factual conclusions when you're unhappy and questioning your trading strategy following a string of unsuccessful deals.


　　Your whole trading history is documented in a trading diary. It entails recording the outcomes of each deal so that you may subsequently evaluate your overall performance. Keeping such thorough records also enables you to make factual conclusions when you're unhappy and questioning your trading strategy following a string of unsuccessful deals.

　　The majority of new traders minimize the value of keeping such a log because they assume they will have no trouble remembering their biggest failures or wins. But keeping such a daybook is not simply a means to remember mistakes; it is also a way to preserve detailed records of your trading activities, which will help you determine the strengths and weaknesses of your trading strategy.

　　When you start having disappointing trading outcomes, which cause demoralization, trading logbooks seem to be helpful. You need to consult your diary when you can't always pinpoint the precise cause of the disappointing outcomes.

　　providing answers to inquiries like “Is my trading system still working？” Taking a look at your prior trading sessions would make answering questions like “Should I keep trading the same method despite my recent losses？” more simpler. For instance, you can discover a departure from your original trading plan that you weren't even aware of.

　　A thorough data log can also help you spot certain periods of time when, despite following your trading plan, your average earnings are off by a given percentage. This could be a result of the seasonality of some events, the frequent publishing of economic figures, etc.

　　Money Management and Risk

　　Importance of Psychology in Trading

　　Becoming an Accomplished Trader

　　Market Sentiment – the Basics

　　Crowd Behavior

　　Recency Bias and Its Influence

　　Maintaining a thorough trading log is mostly intended to stop you from acting impulsively, which will eventually save you money. To the extent possible, you must record all sorted data, including trade entries and exits. It's also helpful to take screenshots of your trading session on your platform to keep track of your thoughts and to visualize everything.

　　Basic3-120 shoes foot step footsteps-512: Steps to Take

　　When maintaining a diary, there are a number of actions you need to do. Before truly committing to a position, you must first list your motivations for applying. This manner, a rationale that is impartial to potential disappointment and that you may utilize afterwards is assured. Another benefit of maintaining a

　　The advantage of using a daybook is that you can organize it as a spreadsheet to create an equity chart and see the entire profit from a single trade or a series of deals. After a losing run frustrates you, a chart like this one that displays a positive balance of your trading history may be utilized to lift your spirits and boost your confidence.

　　Risk Concepts and Money Management

　　Ways To Lower Risk

　　How Do You Pick the Best Leverage？

　　Correlations inside the market

　　Why Trading Journals Are Vital

　　Prior to making a deal, you should write down your views to force yourself to reconsider your approach. You shouldn't carry out the order if you can see that you are taking the position for any other purpose than to carry out your plan.

　　The so-called “revenge trading” should also be avoided. It often occurs when a novice trader has a protracted losing streak or an unanticipated large loss, which frustrates him and compels him to make a quick transaction in an effort to recoup his losses. This typically has a domino effect and results in further losses. Experienced traders with years of trading under their belts would likely stay untouched and unfazed by such an incident, but newcomers to the market should handle it by taking a break and clearing their heads rather than risking additional money without thinking it through.

　　Exit strategy is equally important as Exit-the-Account-icon-0827114029 Second, before taking the job, you should also write down your departure strategy. In other words, it is necessary to arrange and record all aspects of a transaction ahead, from the entrance to the exit, in the trading notebook.

　　In order to prevent sentiments of uncertainty or greed that may surface during the transaction, it is essential to have a pre-planned exit strategy. The easiest method to ensure an objective departure point is to have it written down before feeling under pressure since people are impulsive and unreasonable. Naturally, you may decide to deviate from your original plan when trading, but you must first analyze why by examining your notes.

　　Third, if you have changed from your original intention after leaving a trade, you should note why you terminated a position. This makes you pause and think. The most frequent cause of people deviating from their predetermined approach is a lack of discipline, which takes years of training to develop.

　　Record your screen.

　　capture-your-screen

　　Screenshots, which represent trade entries and exits, are also seen to be particularly helpful since they give a precise representation of market movement and your position with a time stamp. A screenshot will help you recall how a certain deal went even if you can't.

　　Without the pressure of being in the market, picture precisely what you were seeing at the moment. This enables you to evaluate your plan of action further.

　　Exclamation-icon

　　The fourth and most crucial rule is to always evaluate your trading performance and absorb lessons from your blunders. You need to take your time and carefully consider not just your blunders, but also the positive movements you've made and what you might have done even better, after writing down your trades and taking pictures of the entrance and exit positions.

　　Having your mistakes recorded in your personal trading notebook, which you can go to even years later, is the finest method to learn from them. Since every scenario is unique to you, you cannot find this knowledge in any book or lecture. These thorough records will reveal not just your skills but also your best transactions and your flaws. A log with a long history will enable you to see a pattern in your most lucrative positions, which you can then concentrate on to make even more money. Professional traders strive to minimize their flaws while utilizing their strengths. They have a strong sense of self-awareness.

https://www.wikifx.com/en/newsdetail/202210211024353549.html?source=zme3

Abstract：Forex traders must consider how inflation may affect their trading techniques and currency rates, since inflation may reduce their return on investment (ROI). This article will explain the consequences of inflation on the currency market as well as solutions for dealing with it.

What Effect Does Inflation Have on Forex Trading
　　Jonas Goltermann, a senior market economist at Capital Economics, says that a return of higher and more volatile inflation in all economies would lead to more unstable exchange rates and, in the end, a drop in the value of the currency in the countries with the highest inflation rates.

　　Forex traders must consider how inflation may affect their trading techniques and currency rates, since inflation may reduce their return on investment (ROI). This article will explain the consequences of inflation on the currency market as well as solutions for dealing with it.

　　The Influence of Inflation on Foreign Exchange

　　Inflation is often an indication that the purchasing power of money is eroding, making it more difficult to purchase things on the market. It has been a worry for a long time for both consumers and central banks around the world, which change their monetary policies to keep inflation rates from getting too high.

　　For example, a nation with persistently low inflation rates sees its currency's value grow, giving it greater purchasing power than other countries. On the other hand, countries with high inflation rates see their currency lose value and often have higher interest rates.

　　It is a very important economic indicator that central banks and forex traders use to figure out the prices of foreign exchange. For example, dealing with a currency with a 5% inflation rate will result in a 3% higher actual exchange rate than trading with another with a 2% inflation rate.

　　Inflation, interest rates, and exchange rates are all correlated.

　　Interest rates, inflation, and currency rates are all strongly linked. Interest rates are changed by central banks to impact the other two components, which affect the value of their currency. Larger interest rates provide lenders with a higher return on investment, encouraging them to invest more money overseas and driving up the exchange rate.

　　Lower interest rates, on the other hand, may cause exchange rates to fall, but they can also cause individuals to spend more, causing the economy to flourish. It typically has a favorable impact on currency value and makes money easier to borrow. However, a drop in inflation might put downward pressure on the currency since interest rates are lower.

　　The most important thing that determines the value and exchange rate of a currency is what the monetary system wants to get out of it, such as getting more investors or driving economic growth. Before figuring out how much money they will make, investors should look at the following factors to see how safe their cash holdings in the currency are.

　　Taking Action as a Forex Trader

　　As a forex trader, you need to put your money into a currency that will give you the best return on investment and also go up in value. Because you must account for inflation in your trading strategies, you may do the following to create a decent one.

　　If Inflation Doesn't Rise

　　Inflation rates may stabilize even though the trend is rising. For example, the US Federal Reserve thinks that the current rise in prices is only temporary because COVID-19 makes it hard to get goods to merchants. As a result, they will not raise interest rates in the near future.

　　If this is the case, you don't need to worry about inflation, but you should look at other factors, such as how the economy is doing, how much debt there is, and how much money is in your account. All of these things can affect the price of FX. It will assist you in determining the next steps in your trading strategy.

　　If interest rates rise without negatively impacting the economy

　　If you believe interest rates will increase, invest in currencies with higher interest rates. A higher interest rate nation may have a stronger currency than others, resulting in a better ROI. You won't have to worry about other things impacting the currency since it won't affect the economy.

　　If Rising Interest Rates Have an Impact on the Economy

　　If you believe the economy may be impacted, consider developing a hedging plan. To begin, seek two forex currencies that have a good connection, then open one long and one short bet.

　　You are not limited to currencies since you may match one with a commodity such as gold. Even though it is a more stable way to invest, it may protect you from market swings and help you spread out your portfolio.

https://www.wikifx.com/en/newsdetail/202210212514605002.html?source=zme3

Abstract：Foreign exchange(forex) spread is actually another form of forex fees, the spread varies widely depending on the platform that traders choose and the currency they trade in.


　　Since spread has the most direct relationship with the profit and loss of forex trading, it has become one of the most concerned issues for investors in forex trading. As a trader, you must know the fact that spreads in different platforms are also diverse, and there are also fixed spread and floating spread offered by brokers as well as low&high spread. So what's the normal spread？ And what role does spread play in forex trading？ when will the spread widen？

　　What is a Spread in Forex Trading？

　　Every market has a spread and so does forex. A spread is simply defined as the price difference between where a trader may buy or sell an underlying asset such as the currency pairs. Traders that are familiar with the currency pairs involved spread- the Bid: Ask spread.

　　Below we can see an example of the forex spread being calculated for the EUR/USD. First, we will find the buy/bid price at 1.1400 and then subtract the sell/ask price of 1.1402 What we are left with after this process is a reading of 0.0002.

　　Traders should remember that the pip value is then identified on the EUR/USD as the 4th digit after the decimal, making the final spread calculated as 2 pips/points.


　　How Much is the Average Forex Spread？

　　In general, more active and larger markets offer lower spreads, e.g. the spread of EUR/USD is lower than the spread of other non-major currencies. On the other hand, the smaller the market and the smaller the currency in circulation, the bigger the spread will be. Level of the spread provided by broker is an important factor that affects whether traders choose the broker or not.

　　Trading mode on forex platforms can be divided into STP(Straight-Through Processing) mode and MM(Market Maker) mode. Different modes have different average spreads.

　　1. Average Spread Under STP Mode

　　Under STP mode, the platform does not participate in the transaction of investors, and all orders are sent. The main profit source of the platform comes from the investor's spread, so the spread is relatively high under normal circumstances, and the operation cost is very low. Because it is the bank joint quotation, so the floating point spread is adopted. The average per standard hand spread of EUR / USD is 2 pips.

　　2. Average Spread Under MM Mode

　　

　　In MM mode, investors and the platform make bets. The orders of investors are absorbed by the platform. The loss of investors is the source of profits of the platform. Under this mode, the spread will be lower. The average per standard hand spread of EUR / USD is 1pips.

　　3. Average Spread Under ECN Mode

　　

　　The spreads on ECN trading platforms are generally very low but are all floating. Brokers who use the ECN model will typically charge a fixed commission on trade entries. As ECN brokers feature spreads as low as zero pip, instead of widening the spread, brokers will usually charge a flat fee as their only source of income.

　　What's the Types of Spread？

　　In today's forex market, there are many kinds of platforms. But in the final analysis, there are only two kinds of spread, one is floating spread, the other is fixed spread. What is the difference between floating spread and fixed spread？ Which is better？ What is the difference between floating spread and fixed spread？

　　Floating spread is generally STP mode, that is to say, traders place orders directly with banks. Fixed spread is generally MM mode, that is to say, traders is directly gambling with platform providers, with great risk.

　　How Wide the Spread Could Be？

　　A wide spread means there is a large difference between the bid and the ask price. Emerging market currency pairs generally have a wide spread compared to major currency pairs.

　　A wider than normal spread generally indicates one of two things, high volatility in the market or low liquidity due to out-of-hours trading. Before news events, or during big shock (Brexit, US Elections), spreads can widen greatly.

　　Let's take the Brexit as an example, to see how wider the spread can be.

　　GBP & EUR pairs were the most affected Pairs via Brexit. Through which market were Up & Down and due to high volatility Forex traders were highly impacted. The BREXIT vote was a massive surprise and its impact on forex markets and global markets will last for a long time.

　　Let's recall What “BREXIT” Vote Looked Like On The 5 Minute Charts


　　you can notice on the 5 minute chart above that the market moved from around 1.4900 to 1.3400 in around 4 hours. That is a staggering 1500 pips! That took out the ENTIRE year's trading range high to low! It also went to 1985 lows! A 10% drop in the currency in only a few hours.

　　Why&How does Currency Pairs Widen/Tighten Spread？

　　It is important to understand which currency pairs have the lowest (best) spread when trading. Although the price difference of major currency pairs and even some cross currency pairs is relatively low, some foreign currency pairs will have a wide spread. As soon as you enter the transaction, you will have a large loss.

　　The currency pair with the lowest spread is the currency pair with the largest trading volume. The major currency pairs we are looking at are: EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CAD, NZD/USD.

　　These currencies have the lowest spread against the general price, among which EUR/USD, USD/JPY, GBP/USD are the lowest.

　　One of the advantages of trading on a higher time frame is that the bid ask spread becomes less important when trading on a higher time frame than trading on a lower time frame. However, even in a higher time frame, some illiquid currency pairs may still have large price differences, which should be considered before trading.

　　Trading Spread in Sydney/Tokyo/London/New York session

　　Because of different trading periods, the bid ask spread of a currency pair may vary. In London and New York, most bid ask spreads are at their lowest levels, because they have the largest trading volume.

　　However, after the end of the New York session and before the start of the Tokyo session, there is a three hour window, during which the price difference may be large. For some cross currency pairs and foreign currency pairs, this situation is more prominent, but the main currency pairs can not be immune.

　　Although the opening time of the Sydney session is close to that of the New York session, the liquidity is not as good as that of the New York session, so the price difference is large. It was not until Tokyo, three hours later, that trading volume increased and most spreads began to return to normal levels.

　　How to Use Forex Spread Indicator？

　　A forex spread strategy can also be strengthened by the use of a trading indicator. The forex spread indicator is typically displayed as a curve on a graph to show the direction of the spread as it relates to bid and ask price. This helps visualise the spread in the forex pair over time, with the most liquid pairs having tighter spreads and the more exotic paiirs having wider spreads.

　　There will also be a lower spread for currency pairs traded in high volumes, such as the major pairs containing the USD. These pairs have higher liquidity but can still be at risk of widening spreads if there is economic volatility.

https://www.wikifx.com/en/newsdetail/202210205754290020.html?source=zme3

Forex trading and options trading involves the use of margin, which is an essential component for any day trading strategy.


　　For those that are wondering whether they should consider forex or option trading, this article is for you!


　　Forex trading, also known as currency trading, entails exchanging one currency for the value of another currency, known as the exchange rate. To put it simply, it is a 24/5-market in which nations, financial institutions, and individuals can gain access to the currencies of other regions for purposes such as international trade. Although financial institutions such as commercial banks handle most of the trading volume on behalf of their customers, individual investors can also learn how to trade currencies to meet their needs. They also can profit from periodic fluctuations in the exchange rate, which is a common way for traders to profit. Perhaps one feels the U.S. Dollar will get stronger compared to the British Pound or the Euro. A strategy can be developed to affect this trade, and if the research is correct, a good profit can be made.


　　Options trading allows you to buy or sell options on large amounts of stock, futures, or other assets that you believe will rise or fall in value over a set period of time. Options contracts only give the parties a right, not an obligation or responsibility, which they can choose to exercise or not. A “premium” is a fee paid to purchase or open an options contract position. Call and put options are the two main types of options. A call option grants its holder the right to purchase an asset at a predetermined price within a specified time frame. When the buyer exercises this right, the seller of the option is bound by the terms of the sale contract. Put options, on the other hand, give the buyer the right to sell an asset at a predetermined price within a specified time frame. When a put option buyer chooses to exercise his or her selling rights, the option seller is obligated to purchase the assets specified in the contract. Thus, a call option buyer profits as the price rises, whereas a put option buyer profits as the price falls. Options trading is a leveraged market, which allows the trader to multiply the original trade value by several times. This can magnify both profits and losses.

　　In conclusion, when it comes to forex vs options trading, the forex market has advantages such as 24-hour trading, good liquidity, fast execution, and low commissions. However, options can provide higher percentage returns with limited downside and several strategic alternatives that traders can combine with other assets.

https://www.wikifx.com/en/newsdetail/202210192714443277.html?source=zme3

Abstract：Over $6 trillion is exchanged internationally every day on the forex market, which is by far the biggest financial market in the world. With such a startling number and the magic of leverage, there is always a great chance of making money on the Forex market, albeit there are also many hazards involved.


　　Forex Fraud

　　Over $6 trillion is exchanged internationally every day on the forex market, which is by far the biggest financial market in the world. With such a startling number and the magic of leverage, there is always a great chance of making money on the Forex market, albeit there are also many hazards involved.

　　There are almost no entrance restrictions for retail traders because technology has democratized the Forex industry. Because anybody may start trading immediately, despite the fact that forex trading involves a considerable lot of knowledge, ability, and experience, susceptible individuals are drawn to the opportunity without fully appreciating the inherent danger. Because Forex is such a huge goldmine, dishonest firms try to entice unwary clients by promising them the chance to make a lot of money constantly.

　　They present Forex trading and the potential for profit as quick and simple processes. Forex scams will continue to exist as long as there is a profitable forex market. Therefore, it is wise for investors to be able to recognize and stay away from Forex scams in all of its forms.

　　It's crucial to conduct thorough broker research on the WikiFX app before selecting a broker to begin trading.

　　 Scams by Forex Brokers

　　The unsettling aspect of Forex scams is that certain Forex brokers may potentially be involved in their execution. Here are a some of the most common con games out there:

　　manipulation of prices

　　The scam that con artists use the most is this one. Some brokers intentionally manipulate their trading systems to the detriment of traders. Slippage is a situation where entry and exit orders are completed at prices that are unfavorable to the trade. For instance, a purchase order is completed at a significantly higher price, which reduces, if at all possible, the potential gains from the deal. Additionally, there is “stop hunting,” in which the broker tries to eliminate the investor-applied stop loss before moving on to stream the accurate prices. In essence, price manipulation will cause investors to place losing transactions.

　　extraordinary high leverage

　　In CFD trading, leverage is a fantastic concept. But leverage always has two sides to it. Profits from profitable transactions can be substantial, but losses from losing deals can also be substantial. Some brokers promise investors extraordinarily high leverage ratios of up to 2000:1 in an effort to entice them with claims of large gains, but market risks can cause a single failed transaction to wipe away the majority of a trader's balance.

　　Bank Accounts of Unsegregated Clients

　　Scam brokers sometimes manage a single bank account for both the cash of their clients and their own operating funds. This implies that they will be more inclined to look for methods to support operations using client money when funds on their accounts are running low. This is a very terrible business practice, and if the broker is unable to pay their debts, your money will be linked to theirs and may possibly be taken by their creditors.

　　Fake promotions and bonuses

　　Bonuses and promotions are frequently provided by brokers, even trustworthy ones. Brokers that are registered and licensed must make sure that any bonuses and promotions they offer adhere to legal requirements and don't “lock” the trader. However, some dishonest brokers entice investors with false promos that feature onerous or completely unreachable terms and conditions. This implies that their investors will nearly never be able to take any winnings before they lose their trading money. It's usually true if something seems too wonderful to be true.

　　Personal Data Fraud

　　You will be needed to provide some of your private and personal information when joining up with a brokerage business, as well as perhaps payment information like credit card numbers. To guarantee that your data is kept private and is never shared with or sold to a third party, a licensed and registered broker is obligated to implement the essential security measures. Scam brokers might not take the appropriate security measures or, worse yet, they might sell your information to a third party. These third parties can start contacting you with offers you haven't chosen to receive or send you unwanted emails. Innocent investors may sustain losses as a result of identity theft and the sale of personal information.

　　All of the aforementioned broker frauds have been examined by WikiFX, which has also evaluated each broker on its website. All of the brokers on the website/app are evaluated and given a rating out of 10 based on the aforementioned aspects and services they provide

https://www.wikifx.com/en/newsdetail/202210199464772431.html?source=zme3

Abstract：You keep a record of everything you think and do prior to the transaction, during the deal, and following the trade. Whatever your trading approach or style, trading is a performance skill.

　　You keep a record of everything you think and do prior to the transaction, during the deal, and following the trade.

　　Whatever your trading approach or style, trading is a performance skill.

　　Your success depends on your ability to evaluate the market environment, develop a strategy or trading approach, execute that plan successfully, and be lucky.

　　Since there are several factors that contribute to success, you must list them all in order to assess your strengths and weaknesses.

　　What to Record in Your Professional Journal

　　For traders, that entails writing down:

　　Who you are and why you trade foreign exchange. You must understand who you are, your lifestyle concerns, and the reasons behind your actions in order to choose the best trading strategy for you.

　　viewpoints and philosophies of the market. By doing so, you can frame and comprehend the markets, decide how to behave, and control the danger to your account.

　　the market observations. Even while every day in the market is unique, you may still benefit from some “tendencies” or “behaviors.” You may identify these “tendencies” by diligent and persistent observation, and you can then develop methods around them. Additionally, you'll be aware of the situation and adapt as necessary if the surroundings changes.

　　trading lost opportunities and errors. The market moving against your trade is just as harmful to your performance as mistakes and lost chances. To prevent making the same errors again, you should keep track of your blunders in your diary. Examples include closing trades too soon, failing to act on legitimate setups, inputting the incorrect entry levels or position sizes, etc.

　　performance information. Your forex trading success may be measured into concrete statistics in many different ways. This presents a straightforward, accurate view of how you're doing. The stats are truthful, just like Shakira's hips. And occasionally, a dose of reality might give you the wake-up call you need to step up your game!

　　In all honesty, this seems like a lot.

　　So here is what we believe to be the absolute minimum to help you get started. Our list of essential components for a trading journal.

　　We just want to make clear that this is what we think should be in a trading strategy before we release our list.

　　We just offer this list so you may have a better sense of what to put in your own plan; you are not required to stick strictly to the items on it.

　　The Minimum: 5 Record-Keeping Requirements for Your Trading Journal

　　All right, here are the five components that any forex trading notebook “must-have” have:

　　Possibility of exchanging

　　Entry trigger Size Position

　　Trading regulations Trade retrospective

　　Again, it's your choice.

　　It serves as your trade diary.

　　You should personalize your trade notebook anyway you think fit, just like you would with your own Dota 2 character.

　　Keep in mind that keeping a forex trading notebook is for your own profit. So, make a note of what you believe would be most beneficial to you!

https://www.wikifx.com/en/newsdetail/202210183014873481.html?source=zme3

Abstract：In Islamic law terms, when something is considered "haram", it is something that is forbidden that opposes the teaching of the holy Al Qur'an.


　　Some argue that forex trading is “haram”, while there are also some that view forex trading to be “halal” (which translates into permissible).

　　Among the activities prohibited by the Holy Qur'an are gambling and riba, also known as interest or usury. Since the last two activities are associated with Forex trading, many Islamic scholars have argued that Forex trading is haram according to Islamic principles.

　　However, many have pointed out that not all Forex trading accounts involve interest and gambling, such as Muslim Forex accounts. Islamic jurists generally agree that currencies of different countries can be exchanged on a spot basis at a rate other than unity because currencies of different countries are distinct entities with different values or intrinsic worth, and purchasing power. A majority of scholars also appear to agree that currency exchange on a forward basis is not permitted, that is, when both parties' rights and obligations are related to a future date. However, there is a significant difference of opinion among jurists when one of the parties' rights, which is the same as the counterparty's obligation, is deferred to a later date.


　　Furthermore, Muslim scholars agree that exchanging currencies on the spot could be allowed. This is due to the fact that spot settlement can significantly reduce the usury component of Forex trading. On this basis, Muslim theologians have reached an agreement that Forex trading is halal.

　　In an effort to make forex trading halal for Islamic traders, an Islamic Forex account is introduced. This is a forex account that operates similarly to a conventional forex trading account except that it is a halal account that complies with the Shari'ah prohibition on Riba or the accumulation of interest. Islamic Forex accounts will not charge interest on open positions held overnight, but because they will not charge interest, some Islamic accounts will charge commission or offer wider spreads than a traditional Forex account.

https://www.wikifx.com/en/newsdetail/202210174804634206.html?source=zme3

Abstract：We often see the terms “CFD” and “forex” come alongside one another on the websites of broker companies. But do you know their actual differences?


　　Though both CFDs (contract for difference) and forex do not involve the trading of any physical assets. They are both traded over the counter through a decentralised market with similar execution manners. Unlike other types of trading instruments that could involve other finance fees and charges, the only cost of trading for CFDs and Forex is the spread – that is also the source of income for a legitimate brokerage.

　　CFD constitutes a contract, but not a physical asset, between brokers and traders to pay the difference in the entry and exit price of that underlying asset in question. The profit or loss is calculated based on the entry and exit price difference and multiplied by the number of CFD units traded. CFDs allow traders and investors to dabble in many trading instruments, such as commodities, stocks, metals, indices, options, exchange-traded funds (ETFs) and more. On the other hand, forex trading is straightforward – it is the trading of currencies, and only limited to that.


　　Another distinction is how the markets are influenced. Global events or a nations stability, such as political changes and more fundamental factors, are the major drivers behind the currency market. However, CFDs are more inclined to be affected by supply and demand, trends, sector and industry development, and many other factors that could cause asset values fluctuation.

　　Furthermore, the forex market is open 24 hours a day, five days a week, allowing investors all over the world to trade whenever they want. CFD trading times vary depending on the underlying market, commodity, or asset.

https://www.wikifx.com/en/newsdetail/202210145554869186.html?source=zme3

Abstract：Not all currency pairs are built the same. Different currency pairs will come with their characteristics and depending on your trading preferences you can find a pair that suits your risk appetite. When you master the trading instruments you prefer you will not have to burden yourself with analyzing and tracking the number of pairs. You will be focused on a few pairs and paying close attention to the market. When you look for too many opportunities on multiple pairs, you will be tempted to overtrade your account by seeing too many opportunities to open positions. So today, we will look at the different types of trading pairs, discuss why they differ and help you conclude which one you should choose.

img_v2_f99a207b-c362-4fee-9919-0a363293d87g.jpg
　　Not all currency pairs are built the same. Different currency pairs will come with their characteristics and depending on your trading preferences you can find a pair that suits your risk appetite. When you master the trading instruments you prefer you will not have to burden yourself with analyzing and tracking the number of pairs. You will be focused on a few pairs and paying close attention to the market. When you look for too many opportunities on multiple pairs, you will be tempted to overtrade your account by seeing too many opportunities to open positions. So today, we will look at the different types of trading pairs, discuss why they differ and help you conclude which one you should choose.

　　Some of these pairs which we will be discussing are known to be volatile. If you are up for that action that is fine, but you have to ensure that the broker you use offers low fixed spreads to maximize your returns. To find such a broker I recommend you use WikiFx. This app helps you find the best regulated and verified broker worldwide, so you can rest assured knowing your trading capital is in safe hands. They also show you which brokers are known to be scams so that you can avoid them before you lose your money. Make sure to start your search for a broker on WikiFX.

　　Major Pairs

　　The world is made up of different countries and within those countries, different economies perform differently. Depending on the economic performance of a country, the value of its currency will either rise or fall. The stronger the economy, the stronger the currency will be and the greater effect its change in value will have on the rest of the world. This is why we have the 8 Major pairs, they are made up of the strongest currencies from the strongest economies. These are the:

　　The US dollar from the United States of America,

　　The EUR from Europe

　　The JPY Yen from Japan

　　The CAD dollar from Canada

　　The AUD from Australia

　　The NZD from New Zealand

　　The GBP pound for Great Britan

　　The CHF swiss from Switzerland

　　The currency pairs they make are EUR/USD (Euro Dollar), GBP/USD (Pound Dollar), USD/CHF (Dollar Swissy), USD/JPY (Dollar Yen), AUD/USD (Aussie Dollar), NZD/USD (Kiwi Dollar), and the USD/CAD (Dollar Loonie). These currencies are the strongest in the world so they tend to be the most traded. Because of this, these trading pairs of these currencies offer the most liquidity. This large liquidity ensures that the spread on these pairs is pretty low so if you are looking to enter the markets at the lowest spreads Major pairs are your go-to. These pairs are the most volatile, so these pairs are preferred by fast pace traders.

　　Minor Pairs

　　Any pair that is made up of the top currencies but isn't held against the USD is considered a Minor pair. Because the American dollar is considered the base currency for the rest of the world and receives the most volume, the Major pairs that feature the USD are more commonly traded and hence these are minor currencies as they are less popular. The 7 minor pairs are EUR/GBP, EUR/JPY, GBP/JPY, GBP/CAD, CHF/JPY, EUR/AUD, and NZD/JPY. These pairs tend to move slower due to their decreased volume and their spread can vary but they are usually more than major pairs. These pairs tend to be less volatile meaning there are less of big up and down movements. If you are a long-term trader these pairs are likely to suit you as they may take time for the trade to move in pips but it is less likely to spike you out.

　　Exotic Pair

　　These are made up of the rest of the currencies of the rest of the world. These pairs tend to have huge spreads when compared to major and minor pairs because there is less interest in these currency pairs meaning there is less liquidity to trade them. These pair are for those who know the particularities of a countrys economy so well you can ensure success with your trades. This is useful for the country in which you live as you will be able to have a direct observation of your economy and currency and trade using that first-hand information.

https://www.wikifx.com/en/newsdetail/202210144684316135.html?source=zme3

Abstract：Trading is an art. There is no one size fits all. There is no one trading style that is superior to the other.



　　An amateur trader could have trouble choosing and sticking to one trading style that suits them personally. This process could take some time and trial-and-error efforts, but this is a process that one has to go through in order to achieve long-term success as a trader.



　　This strategy is suitable for traders who prefer short-term or fast price movements. Scalping strategies focus on accumulating small but frequent profits while minimizing losses. Although these short-term trades involve only a few pips of price movement when using high leverage levels, a slight error in execution can lead to detrimental losses. Therefore, scalping is a short-term trading strategy that involves frequent arbitrage in a short period of time.



　　This is another type of short-term strategy where day traders generally do not overnight their trades and choose to leave the market on the same day. This prevents them from being affected by market volatility when they are not watching the market. Some traders prefer this method because it allows them to sleep peacefully at night.



　　This strategy is suitable for traders who prefer a medium-term horizon that allows them to exit the market within a few days. This strategy aims to make money from the changes in swing highs and lows. The trader needs to carefully analyze the price movements to find reasonable entry and exit points to take maximum advantage of this strategy. Although traders do not have to keep their eyes on the screen, the risk of overnight and price gaps are still present.

　　v



　　This long-term trading strategy usually focuses on fundamental analysis, so position traders generally do not care about small market movements because it does not affect the general trend of the market. Observing central bank monetary policy, political events and other fundamental factors are what position traders focus on. This strategy is suitable for patient traders, as trading events may be measured in weeks, months or even years.

https://www.wikifx.com/en/newsdetail/202210124934341419.html?source=zme3
Abstract：The Forex market has a daily volume of $6.6 trillion, making it bigger than the stock market. It has its unique characteristics, so learning how to use it for the first time is like traveling through unfamiliar terrain.

The Fundamentals and Essential Forex Trading Methods You Should Be Aware Of
　　The Forex market has a daily volume of $6.6 trillion, making it bigger than the stock market. It has its unique characteristics, so learning how to use it for the first time is like traveling through unfamiliar terrain.

　　However, you may always go above and above to better prepare for your future forex trading ventures.

　　First, read this article to discover the most crucial thing about forex trading that both novice and seasoned traders should know.

　　The Forex Majors

　　In the foreign exchange market, investors trade currencies rather than equities or commodities. Because the possibilities are more restricted, the market focuses on a few currencies known as “large economies” or “the Majors.” The most significant is the US dollar and the Euro, which are both engaged in most exchanges.

　　The other 6 important forex Majors are:

　　Japanese Yen

　　UK Pound Sterling

　　Swiss Franc

　　Canadian Dollar

　　Australian Dollar

　　New Zealand Dollar

　　Currency Pairs

　　When trading currencies, you will always view them in pairs. Why？ Different currencies' values are interdependent. This relationship is represented by a decimal number. So, if the EUR/USD pair is 1.4400, you must spend $1,44 to purchase €1.

　　


　　Traders attempt to forecast how the currency relationship will evolve. If they believe the US economy will outperform the European economy, they might elect to purchase more dollars with the euro, and vice versa.

　　You can also trade currencies with a trader in the future for a set amount. If one of the currencies gains in value in the future, one of the traders will benefit. This is known as a currency futures contract.

　　Carry Trading

　　You can trade based on the current interest rates as well as the value of a currency. Carrying trading is a forex strategy. How does it work？ The truth is that every currency has a distinct interest rate. The number is set by the central bank of the currency. It is based on a number of complicated factors.

　　Traders may borrow a currency with a lower interest rate (low yield) and use it to buy a currency with a higher rate (high yield). They will benefit from the difference in interest rates in the end.

　　For example, if the interest rate on currency A is 1% and the interest rate on currency B is 7%, a trader will use currency A to buy currency B and make a 6% interest profit.

　　Leverage

　　Another important idea in forex trading is leverage. Simply explained, this is the money you borrow from a broker to get into a deal. It is also common in other trading markets, but Forex is known for having very high leverage.

　　In forex, you may control a lot of money with a tiny quantity of money at the start. In rare cases, you may only be able to deposit 1% of the entire amount. So, if $200,000 is at stake, you can get there with just $2,000. Although it may seem enticing, huge forex leverages may cause significant damage if not managed appropriately.

　　


　　Volatility & Liquidity

　　The phrase liquidity refers to market activity. When there are a significant number of transactions every day, the market is more liquid. Because FX is open 24 hours a day, Monday through Friday, and has a huge daily turnover, it is considered the most liquid financial market.

Trade-Volatility-Indices-using-the-Institutional-Strategy (1).png
　　This seems to be a beneficial thing at first glance. However, this idea is linked to market volatility. Volatility measures how quickly market values may vary. Volatility is higher in a market with more liquidity. As a result, forex traders must use extraordinary caution in their trading decisions.

https://www.wikifx.com/en/newsdetail/202210132044336310.html?source=zme3

Abstract：Short-term trading and hodling are common investment strategies in the world of digital assets. Some may argue that short-term trading could bring out the best return from owned assets, while some may think that a good investment should be held for the long term.



　　Short-term trading of digital assets involves taking a position that could last from seconds to several days. This is to take advantage of the short-term fluctuations within a macro trend. On the other hand, the word “hodl” is a widely-used slang in the digital asset markets which means to buy-and-hold indefinitely (also known as “hold on dear life”) regardless of market conditions.

　　Is one way really better than the other？ The answer is no. It all comes down to personal preferences instead of a solid answer. This is also a misconception that confuses many people when it comes to trading and/or investing.

　　Let us take a look at some of the distinctive differences between trading and owning digital assets:



　　• The intrinsic value or future prospects of a digital asset do not matter.

　　• The main focus is taking advantage of short-term volatility and price fluctuation.

　　• It could be taking long or short positions.

　　• Trading style and strategy: scalping, day trading, or short-term swing trading.

　　• Utilizing margin and leverage to maximize the use of funds for profit.

　　• It involves entry prices, stop losses, and target prices.

　　• Having calculated risk management is essential.



　　• It is about believing and investing in the bright future prospect of a digital asset for its intrinsic value.

　　• It involves buying and holding onto a digital asset indefinitely, even when the market condition is bad.

　　• No trading strategy is needed.

　　• Only one entry price is necessary with manual closing of the position.

https://www.wikifx.com/en/newsdetail/202210113634769975.html?source=zme3
Abstract：Would you like to make extra income by introducing clients to your forex or CFD broker? If this idea sounds interesting to you, you must keep reading to learn more about the role of an introducing broker.


　　An introducing broker, or IB for short, is a company or individual who introduces its clients to a broker. While acting as a referral, it is also an agent between the broker and the client. IBs must provide their services to maintain rapport with clients and keep them around. When a trading client carries out business (i.e., performs a trade) with the broker, the IB earns a small percentage of the commission. The commission is usually in accordance with the lot size the client trades.

　　For example, Ali is an introducing broker who refers Susan to ABC Broker. The promised commission between ABC Broker and Ali is $1 for each 1.0 lot traded. When Susan opens a trade of 0.5 lot, Ali gets a 50-cent commission credited in return.

　　Becoming a successful IB is about gathering as many clients as possible to increase the chances of earning more commission. IBs usually offer specific services to attract and maintain clients. Some provide profitable trading signals for clients, and some provide free trading courses, webinars or even one-to-one trading. Many of them have a social media presence and could run ads to promote their IB business on social media too.

　　If you are an individual or a retail trader looking to become an IB, it is encouraged to choose a credible broker. Simply download the free WikiFX app and look for a broker that has a score of 7.0 and above, is regulated by an authority body, and has valid licenses. This is an essential step for an IB, too, not just for retail traders, because we at WikiFX also received complaints about unreliable (scam) brokers taking advantage of their IB.

https://www.wikifx.com/en/newsdetail/202210118444755915.html?source=zme3
Abstract：A closed position is a trade that is no longer active as closing a position involves nullifying the initial position. It eliminates exposure to market risk. Closed position is commonly referred to as “position squaring” in Forex trading.


　　About Closed position

　　Closed positions are trades that have been ended by the trader, either by buying or selling. When closing a position, you trade in the opposite direction from when you opened it. Having a trading plan can help you close a position at the right price. It is no longer active. It is possible to close positions to increase profits or curb losses, reduce market risk, or generate cash. Closed positions are trades that have been ended by a trader, whether by buying or selling. As a result, you sell the investment or terminate it.

　　The opposite of an open position is a closed position. An open position is the exact opposite of a closed position, meaning you have completed a transaction involving securities.

　　Stock X is purchased, indicating that the position has been opened. Some stocks may be sold, added, or held. The position is still open. Upon selling Stock X, the position is closed.

　　How Does Closed Position Work？

　　A position can be closed or opened either manually or automatically.

　　For example, features like “take profit orders” and stop-loss will automatically close your position if a market‘s price rises or drops to a set level. This can be triggered when there is insufficient equity in your account to support the trade’s margin requirements.

　　When should I close a position？

　　when traders want to take profits or curb losses, reduce exposure, or generate cash., the positions can be closed.

　　Generally, traders close positions when:

　　profit targets have been achieved and the trade concludes with a profit

　　stops levels are reached and the trade concludes with a loss

　　trade needs to be concluded to fulfill margin expectations

　　Sometimes, an investor who intends to nullify tax liability on capital gains may close their position on a losing security to realize a loss.

　　Generally, closing positions are executed at the discretion of traders. However, in special cases, positions are sometimes closed by force or involuntarily.

　　For example, a brokerage firm may close out a long position held in a margin account if there is a steep decline in the stock, and the account holder (trader or investor) is unable to support the margin requirement.

　　To close a position at the correct level, it is important to set trading goals before entering a trade or opening a position. Goals could be target prices, expected return percentages, or anticipated loss. A position can be closed once these expectations are fulfilled.

　　What happens when I close a position？

　　When you close a position, the investment comes to an end. All profits and losses are realized and the trade is no longer active.

　　Open Position vs Closed Position

　　An open position is an initial position, long or short, that an investor takes on a trade. A position is open when the trade is live.

　　For example, a trader owning $1000 shares of a particular stock is said to have an open position. This is because the trade is live and can still make profits or incur losses.

　　On the other hand, a closed position is a trade that is no longer active and has been terminated by a trader. It is the exact opposite of the open position.

　　For example, a trader selling all the shares of a stock after it reaches the desired price target is said to have a closed position.

　　Conclusion

　　A closed position is a trade that has been ended by either buying or selling, canceling a previously open position to have no commitment. It is an important tool that traders and investors use to achieve profit targets and curb loss of security. Therefore, it is important to close a position at a level that satisfies margin requirements.

https://www.wikifx.com/en/newsdetail/202210099554879916.html?source=zme3

Abstract： We all have our various trading strategies, but they all focus on winning as many pips as possible and losing as little. If you are looking to accumulate as many pips as you can, limit your risk, and maximize your time your best bet is capitalizing on the strategies that target the big moves of the day. Today we are going to discuss what makes the markets move, how to identify when it is about to move and how to time your entries to take advantage of the big moves of the day.


　　We all have our various trading strategies, but they all focus on winning as many pips as possible and losing as little. If you are looking to accumulate as many pips as you can, limit your risk, and maximize your time your best bet is capitalizing on the strategies that target the big moves of the day. Today we are going to discuss what makes the markets move, how to identify when it is about to move and how to time your entries to take advantage of the big moves of the day.

　　If you intend on capitalizing on these large movements you have to ensure that you are trading with a broker that will have low fixed spreads and no requotes. To find such a broker I recommend you use the WikiFx app. This app helps you find the best-rated brokers who are verified and regulated globally. They also show you which brokers are known scammers with multiple cases of malpractice, so you will be able to avoid these brokers from the get-go. You will be able to compare brokers side by side and find the one that best suits your needs.

　　What moves the market？

　　There are several market participants which contribute to the overall !^ trillion-dollar pot that is the forex market but the most influential are the big financial institutions and banks which invest large sums of money in the markets to move prices as they please. The large candles we see are the large players turning up the “volume” in the market, essentially opening bigger positions to manipulate the market. This is usually done at the opening of every trading session and depending on which session the market is trading at, the large movements can be momentary or last for hours. This windfall of pips in the market are called “volatility”, and this is what we want to target as day traders.

　　Some pairs are more volatile that others. Out of the 8 major pairs, GBPUSD, EURUSD and USDCAD are the pairs which tend to move the most. With these pairs you can expect to make 50 to 80 pips a day depending on your strategy ocourse. These pairs tend to move the most throughout the so focusing on these pairs is a good wa to maximize on volatility.

　　Depending on which trading platform you are using you should use the volume indicator. This indicator shows you the total amount of positions which are opened on a pair. Little volume means there is not as many open positions for that instrument of pair, sudden spikes in volume should signal to you that big positions are being opened by the big market participants. You should start looking for intries when you see a rise in volume cause you know tere is about to be volatility in the market. You also need to realise that some trading sessions offer more volatility than others. The New York session tends to feature the biggest market movements so it is advisable you sync your trading times with the New York session.

https://www.wikifx.com/en/newsdetail/202210085334253773.html

Abstract：I am sure every trader at some point has come across that question in their career at some point. The freedom of working from home having to answer to no one may seem tempting but there are a few things to consider first before becoming a trader full time and today we are going to discuss them


　　I am sure every trader at some point has come across that question in their career at some point. The freedom of working from home having to answer to no one may seem tempting but there are a few things to consider first before becoming a trader full time and today we are going to discuss them

　　If you plan on trading full time then you need to protect your funds and livelihood by using a trusted broker who will not mess with your capital. To find such a broker I recommend you use WikiFx. This app helps you find the best regulated and verified brokers worldwide. They also show you which brokers are scammers so that you can avoid them before you get involved with bad businessmen. Finding a good broker means you can always rest assured that your rights are being protected and your broker is not misbehaving. So try WikiFx if you are looking for a broker.

　　Reasons to not become a Full Time trader

　　If you have been trading for any amount of tive and your profits or earnings still do not out do your current earnings as an employed individual then it is not advisable to trade full time. If you quit your job not only will your income be cut by virtually half if not more and now all the expenses will then be pressured on your trading earnings. Not to say it is impossible, but the additional pressure to cover expenses, still maintain the same level of life and make greater profits will encourage you to over risk and over trade. And if by chance you blow that account you will not have a source to fund a new account. So if you are still earning more at your job that what you trade, then stick to the job.

　　If you are new to trading with not a single year of experience under your belt then it is highly advised that you do not switch to trading full time. Even if you are experiencing moderate success there are going to be times when you are not in a win streak. This can be discouraging and it is best to gain that experience first with the support of an additional income as opposed to not having one

　　Reasons to Become a Full Time Trader

　　If you have years of experience and you are able to double your job income then and only then can you think about trading full time. And it is usually safer to do so when you have used your trading earnings to invest in some other money making stream so as to replace the job income stream as opposed to just abandoning an income stream.

　　Another way to see if you are ready to trade full time is the size of the funds you have to trade. If you are able to live the life you want to live by gaining about 3 to 4 percent of your account a day then you are able to quit your job, live a good life and feel no need to pressure your account to make you money. The basic principle behind trading full time is creating a condition where you don't have to unrealistically trade or over trade in order to fund the lifestyle you want to live.

https://www.wikifx.com/en/newsdetail/202209302254113635.html

Abstract：As you may know retail traders only make up a fraction of the 6.6 billion dollar forex market. Big financial institutions such as banks and hedge funds open large positions within the market which then determines the direction of the market. As retail traders it is then in our interest to trade along with these market movers and benefit but how are we to know what these big financial institutions are doing? That is where the Commitment of Traders (COT) report comes in. In this article we will be giving a short overview of what the COT report is and how to use it.


　　As you may know retail traders only make up a fraction of the 6.6 billion dollar forex market. Big financial institutions such as banks and hedge funds open large positions within the market which then determines the direction of the market. As retail traders it is then in our interest to trade along with these market movers and benefit but how are we to know what these big financial institutions are doing？ That is where the Commitment of Traders (COT) report comes in. In this article we will be giving a short overview of what the COT report is and how to use it.

　　The COT report is mostly useful for determining large scale market movements which may last weeks and months so it is best to find a broker which has the cheapest overnight and over weekend charges for open positions. For finding such a broker I recommend you use WikiFx. This app shows you which brokers are regulated and verified ensuring that you don't have to deal with broker misconduct. And if for some reason you are having issues with your current broker you can report the issue to WikiFx and they will help you recover your money. They will help you find the appropriate broker with the lowest fees. So now that you know the time frame you should associate this tool with let us look at what the COT report actually is

　　What is the COT Report

　　The COT report is released by the Commodity Futures Trading Commission (CFTC) every Friday and it shows the open interest/positions on all stocks, CFDs, currencies and metals of different types of market participants. The two types of market participants are Commercial participants and Non- Commercial participants. Commercial participants are hedgers or companies that deal in the commodities that are being traded,e.g. Shell with oil. They use buy or sell positions to mediate their risk within these markets and are not given any limits on how large of a position they are to open. Non-Commercials are the speculators and they are in the markets to take risk on, so as to make a profit. These are known as the trend riders and they do have position limits.To ensure the public is aware of the positions these large institutions are taking both these participants by law are supposed to report their open positions to the CFTC every Tuesday. The CFTC then compiles this information then releases the COT report on Friday evening.

　　How to use the COT

　　Because we now see the positions of the big financial institutions we want to identify when these institutions open extreme positions (historic highs or lows) as this signals that the trend is about to change. We also look for points where these financial institutions will change their position from long to short or short to long as this also indicates that the trend is about to change. The whole idea here is to follow the big boys as they buy or sell position and benefit from the resulting market movement. You can access the report online by simply googling Commitment of Traders and clicking on the CFTC website. Scroll down a few times till you arrive at “Current Legacy reports”. Click on the Chicago Board of Trade, “Short format” button on the futures only table and then you will access the report. When you get there, search for the commodity you are looking for and there should be a report showing the positions of commercial and noncommercial participants. The issue is this report is now really user friendly so it might be best to visit some sites which will offer the cot report in a much readable illustrated format. Just simply browse a few and choose which one you like the best.

　　Remember this report is mostly useful for determining long term market direction. Day and scalp traders will struggle to use the COT report as these reports arrive three days after the positions are reported. It is to be used along with technical and fundamental analysis to finally arrive at a conclusion about the direction of the market. Of course we have not covered all the facets of using the COT report as we would be here all day, but if this sounds like a tool you want to include in your trading then we hope this was a useful introduction

https://www.wikifx.com/en/newsdetail/202209304474870936.html

Abstract：A record of every trading activity is kept in your trade diary. Any professional trader who is serious about making money has a tool to help them evaluate themselves objectively: a trading log.


　　A record of every trading activity is kept in your trade diary.

　　Any professional trader who is serious about making money has a tool to help them evaluate themselves objectively: a trading log.

　　Three components are necessary for consistent trading success:

　　having and carrying out a sound trading strategy.

　　Including a sound trading method in that strategy.

　　Examine and refine your trading strategies and ideas.

　　Every forex trader has to keep a notebook that emphasizes these topics.

　　The goal of this notebook is to keep track of both the effectiveness of your trading strategy and your capacity for reliable execution.

　　The failure of the trader to adequately adhere to the regulations of the market is more commonly to blame for bad trading performance than inadequate trading techniques.

　　Following the Trading Plan would be that. Make sure you do it by keeping a trade log.

　　Journal entries determine how useful a journal is. It is difficult to evaluate trading success if deals are not carefully tracked.

　　This should not only be a one-time thing done to finish an assignment; it should be continuous.

　　Zero Excuses!

　　Be truthful and thorough. Don't undersell YOURSELF by omitting to submit submissions or by making them insufficient.

　　You will develop discipline by finding out how to keep a trade notebook.

　　Additionally, we promise you will discover a lot about yourself and your trading mentality when you look back on your entries after a month of trading.

　　You'll be able to clearly understand your strengths, weaknesses, and the ideal strategy for YOU to trade.

　　No mentor, book, film, conference, or other educational resource can teach you this. You must go through it for yourself. You won't learn how to trade successfully unless you have this experience.

　　You must have the motivation to keep a trading notebook if you want to develop your trading skills.

　　Final words of wisdom on maintaining a valuable trading journal:

　　Always start and finish the notebook before and after the trade.

　　Note everything down. Don't forget anything. Be truthful. Note that if you chose to play Call of Duty while participating in a transaction and failed to close it out.

　　Keep a tight eye on your feelings. Make careful to record them after that.

　　Make careful to record observations about you, your trade, and the currency market in the diary. Trading notebooks tend to lean more toward self-analysis than market monitoring, according to our research.

　　Take a screenshot of the intraday charts for the trading for each day and add notes to them. Make a note of any trends you see.

　　You will begin to notice the patterns developing in real-time after a few months.

　　A trading log is a useful tool for learning and a wonderful way to develop your ability to spot the setups you want to trade.

　　Nothing is too ridiculous to write in your journal. Put it in writing. Note if you missed a transaction while playing Call of Duty, watching the most recent episode of The Crown, or chatting with your significant other. Note everything down!

https://www.wikifx.com/en/newsdetail/202209301774273125.html

Abstract：As a trader we all need brokers to enter the market. But finding the right broker may seem daunting at first but this article we are going to list some important things about brokers that you may have to consider when choosing a broker.


　　As a trader we all need brokers to enter the market. But finding the right broker may seem daunting at first but this article we are going to list some important things about brokers that you may have to consider when choosing a broker.

　　Are they verified and regulated？

　　First and foremost you must ensure that your broker is Regulated and Verified. Brokers are known and can be show engaging in dubious activities with trader accounts. They can open over price pips when you losing, or they can just refuse to give you your withdrawals. This is why your broker needs to be regulated and verified to ensure that they are not engaging in fraudulent activities and stick to strict rules of conduct. So make sure you find only related and verified brokers. The best place to find such brokers is through WikiFx. This app is connected to all regulatory boards world wide do they can show you the best rated brokers they also have a list of all the bad brokers out there who are know scammers so you can already avoid headaches before they start.

　　Do they offer bonuses？

　　Sometimes you want to stretch your dollars and a bonus might seem to do the trick. The problem about trading bonus is that it's not real money, it's just a way to artificially increase your risk as most brokers will state that when your real funds are finished all your positions are closed. All you are doing is trading with bigger lot sizes on your original funds so be careful with bonuses. Some brokers even offer a welcome bonus. Those ones are beret as you can trade without depositing money but you can only withdraw the profits of your trades

　　What spreads do they offer？

　　You always want a broker which offers you fixed spreads. This ensures that brokers can not manipulate your trades when they are still going on and stop you out. Always look at the spread a broker offers as it can ensure that you limit your risk. Some brokers offer really low spreads which make it easier to make profits.

　　What is their minimum deposit

　　Some brokers will offer deposit limits meaning that they will only you to trade after you have deposited a certain about of money . These can range from 10 dollars up to 100 dollars. Be careful if a broker has got high minimum deposit because that means they are pushing you to risk more of your accounts. Don't fall for such tricks, keep your wits sharp and trade with however much money you want to. Lucky there are literally thousands of brokers to choose from so if you don't like the offering of one broker you can go to the next.

https://www.wikifx.com/en/newsdetail/202210055344787879.html

Abstract：Most forex brokers provide their clients with a demo account option. A demo account is also known as a practice account or a fake account. 



　　A demo account is similar to a real account, except that the money involved is not real. Traders can opt for a specific amount of starting “capital” and the leverage level to kickstart their new demo account.

　　The main purpose of a demo account is to enable traders to learn trading without risking any real money. Simultaneously, this allows users to gain first-hand experience with their selected brokers respectively. This is a good opportunity to evaluate the trading platform provided, the stability of its trading environment, the responsiveness of customer support, and more before depositing their hard-earned money.



　　We at WikiFX have constantly seen too many scam cases wherein users deposit money into an unreliable forex broker and have withdrawal issues later on. Therefore, if one spots a red flag or feels any discomfort during demo trading, it is encouraged to switch to another broker and not proceed further.

　　However, demo accounts are not only limited to newbie traders. Many experienced traders also use it to test out a new strategy, indicator, or expert advisor (also known as trading robot) before involving real money. This is a helpful feature as aforementioned; a demo account has access to all live market information which enables a trader to evaluate his performance before diving right in.

　　During demo trading, you will encounter many unexpected situations, which will help you better understand the trading processs general framework. For example, you may discover that you will only be able to trade during certain days or hours. Or, it could be that you find more confidence in trading currency pairs rather than commodities.

　　The goal of demo trading is to demonstrate the success of the trading technique used and its ability to generate consistent profits in the real market and to better understand yourself as a trader, without risking a single cent!

https://www.wikifx.com/en/newsdetail/202209304804510709.html

Abstract：The market size of the industry stood at $2.2 billion by the end of 2021. However, are market conditions curtailing copy trading?


　　Copy trading has become one of the most sought-after services in the retail trading industry. It was popularized in the early 2010s by a handful of platforms like eToro, but now almost every well-known broker is offering copy trading services.

Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments.
　　However, the concept of copy trading came from the ancient internet eras social trading, when expert traders shared their trading strategies on forums and other platforms. Copy trading only streamlined that approach with technology, allowing rookie traders to execute the trades of experts instantly.

　　“Copy Trading allows our users to diversify across asset classes or instruments they may be unfamiliar with by copying a more experienced investor,” said Sam Rudnick, Head of eToros Head of Popular Investor Program.

　　

　　

　　The concept was a hit as the industry witnessed an influx of more and more retail traders. Also, it created another income stream for expert traders. eToro alone has more than 2,200 expert investors whose portfolio can be copied, out of which, 12 have over $10 million copying their strategies and portfolios.

　　

　　

　　The overall social/copy trading industry is also massive. It is expected to grow at a compounded annual rate of 7.8 percent, reaching a market size of $3.77 billion by 2028, according to a report by The Insight Partners. The market size of the industry was at $2.2 billion at the end of 2021.