Recent content by Statoscope

Check the online broker reviews from a trustworthy review site like myfxbook review and shortlist your preferred brokers. Then you can try out their demos and check the type of trading environment offered by them. Choose wisely!

For me deposit and withdrawal processing is very important apart from trading charges. I prefer trading with broker that offer quick and hassle free deposits and withdrawals.

Prefer practicing on a demo of the chosen broker to check the reliability of the broker. Also consider the client support offered by the broker.

Trading style is another factor that one should consider while selecting a broker. For example, short-term traders should go with brokers who offer scalping, while long-term traders are concerned with overnight interest rate, which varies from broker to broker. Thus, don't ignore this factor...

To me, bonuses seem like a bribe that a broker gives you to trade with them. Some traders don’t even check the services and choose brokers blindly just because of their bonuses.

Crypto is the best form of money that has ever existed. It's safe, private, anonymous, decentralized, and secure. There are no banks, governments, or middlemen involved. Crypto is the future of money!

It was a great read! Stop loss is indeed very important in forex trading for reducing risks of losing unnecessarily.

What other instruments do they support besides forex?

Scalping can be tough for a beginner. Practice on a demo account until you understand how to perfect it and only when you’re completely confident, try it out on a live account. You want to save your capital, not lose it all.

Basically gambling is all luck and little to no skills, while trading is all skills and little to no luck. But these days we can encounter many gamblers in the forex market too. Except that forex trading is not gambling for most of us.

All your tips are good except the one that talks about bonuses and promotions. To me, they seem like a trap that brokers use to attract customers. The terms and conditions to use these are so complex that many traders don’t get to use them.

Position size or lot size is one of the most basic but crucial things when it comes to forex trading. The OP has explained it well in a simple manner that is good for beginners. The size of position you take in your trades will determine your profits or losses in the end. So it is very important...

Forex is not that profitable for absolute beginners. Beginners who have practised in the demo market and know how to apply risk management and all, might get small decent profits. It takes time to get accustomed to the market fluctuations. Being continuous with the market tradings, you will...

How much is the minimum deposit and withdrawal processing time?

Trying your hands at some brokers can be a good idea of determining at what level they stand. It’s okay to take a few small losses than to make bigger ones because of a wrong choice.