My trading experience
Hi guys,
Today i'd like to tell you some words about my hobby. I decided to try myself as a forex trader couple of months ago.
I heard a lot of negative reviews from people, who told me that it's fake and i'm going lose all my investments. Well, they were almost right :D
My first experience like forex trader was real fail. Cause i haven't maid even simple steps to choose reliable and good broker before investing money. Thanks to God i decided to invest only about 50 dollars for the first time.
As i understood after, i've chosen a scam broker that has really big problems with withdraws. After that, i decided to learn some more information, cause i found trading very exciting and interesting.
I found tons of interesting and useful resources and started to learn all trading secrets. And now i want to present you some simple steps before choosing forex broker. Maybe my advice will save someones money and time.
Before choosing broker, you should check it's reputation. You can use any review website or forum, where people share their own experience and knowledge. I really love https://www.babypips.com/ cause this website has great community.
Then, when you know what people say about broker, you should check his licenses. There are a lot of different types of broker licenses. ASIC, CySEC, FCA, FINMA, MAS are the most popular of them. Brokers with such licenses are named - regulated forex brokers. Security of funds is always first in forex trading, for that reason, it is recalled to open an account with regulated broker. For more information you can use this list - https://55brokers.com/forex-broker-reviews/
After this simple 2 steps, i advice "new traders" to open demo account and check their knowledge and experience. Demo account doesn't need any investments, cause you can't earn real money by using it. You can use to learn market, to test some strategies, etc... It's really awesome thing for new traders.
Fuf, seemed that's all :D I've failed cause i haven't made 3rd step, and decided to invest money without any experience and knowledge. Don't do that, cause forex market is very complicated and you need to be prepared for that.
Thanks for reading my story and have a nice day :)