If you have decided to invest in Forex currency trading, you have a responsibility to yourself to do the required due diligence about this risky business. One critical thing you need to do is to update yourself with the latest currency trading reviews. When you surf the internet, you will be amazed at the number of websites doing forums, seminars and reviews. When it comes to currency trading reviews, you must spend time to compare and study available reviews and comments.
There is lot of discernment to be done in scanning these reviews. Basically, it is important to look into the reviews of online Fx brokers who are active in the business. How about the category of education reviews being offered out there by Forex gurus?
Under this topic, you can learn lots of things from the reviews made about self-study courses in general. There are also negative and positive reviews you will encounter about 1 on 1 training, seminars, books, magazines, blogs, live training, etc being offered online together with their freebies.
With respect to the tools category, you will find lots of reviews about charts, software, news, calendar, reference and hardware. Now, the systems category is fascinating. It is broken down to automated and non-automated system. About the automation, you will be curious about lots of robots doing the trading for the investors and allegedly making a lot of money. Lastly, the category under services is also critical. Under it comes the FX signals, managed accounts, trade advisories, research and analysis reviews.
Some fly-by-night Fx operators take advantage of the excitement and ignorance of beginners and mislead them to believe in fake positive reviews. Remember that the Forex market does not yet have a specific regulatory body. So, be wary of Forex review sites by doing some background and reference checks. Go to sites where reviews are true and unbiased and coming from both the traders and the brokers’ perspective. One website you can visit is that of Forex Justice whose mission is to minimize Forex scammers.
The website of bestonlineForexbrokers.com came up with a list of the top online Forex brokers around the world review. They were rated from more than 400 Forex brokers listed in their website. The criteria for inclusion is an independent trading rating of 6.8 out of ten based on collected data from many Forex traders around the world and other salient requirements.
Their top Forex broker is Hot Forex based in Port Louis, Mauritius and founded in 2007. Its business model is ECN/STP with Metatrader 4 and Currenex as platform. You can open a minimum $25 account. Their minimum transaction is for 1000 units with a maximum leverage margin of 500:1. This Forex broker has been doing online trading since 2010. Its typical spread on majors is 0.3-2 pips. It has an 8.7% independent rating.
Another Fx broker with an independent rating of 8.53% is Trading Point based in Limassol, Cyprus and founded in 2009. It began its online Forex trading in 2009. Its business model is STP and Metatrader 4 as its platform. Its transactions were regulated by FSA, BaFin and CySec. Its minimum account is $1 with a minimum transaction of 10 units. It has a maximum leverage of 500:1 with a typical spread on majors of 1-3 pips. Other Forex brokers you may want to review are Delta Stock AD, Loyal Forex Financial Ltd, Exness, Windsor Brokers Ltd, MB Trading, Ipipfix, Forex4you, Alpari (UK) Ltd., 4RunnerForex, Dukascopy Swiss Forex Bank, e-toro, LiteForex, Fastbrokers, Tadawul FX, ForexCT, FIG Solutions Ltd., IFC Markets Corp. and Avail Trading Corp. All of them have received high independent trading ratings.
Remember that the Forex broker review is just one important aspect of a responsible currency trading review. You also need to look into the other reviews under the other categories listed in the beginning of this article. If you follow these important guidelines, your percentage of success when you actually play the Forex game will definitely be above average.