4 Of The Most Common And Successful Forex Trading Strategies

Working in the field of Forex trading, you get to enjoy the freedom of trading choice offered. You can choose from a variety of currencies, timeframes and strategies to work with. When it comes to strategizing, Forex traders can get incredibly creative! Be it implementing an existing plan, or creating your own unique approach, the roads to success are many and you can always make one of yours. Over the years, several trading strategies have been implemented and obtained a healthy success rate.

The Best Forex Trading Strategies To Implement In 2019

Here are the handpicked few that you can implement in the coming year and see tremendous results:

1) Scalping: A quick-paced trading Forex strategy, scalping is a technique employed on shorter timeframes. Scalpers aim at making small profits which later compound into one big winning. By keenly following market changes on the most minute windows, scalpers capitalize on these small movements. While incredibly profitable unlike common belief, this strategy can be taxing, since traders have to demonstrate high focus and pin-point precision. You can practice and master this method with a good Demo Trading Account at hand!

2) Day Trading: A simple yet amply effective Forex Trading Strategy In Nepal, day trading is a technique where traders buy and sell within the same day. Without any overnight carrying over, day traders aim at opening and closing trades within smaller timeframes. Day trading is one of the most common strategies seen today because of their easy implementation and high success rate.

3) Trend Trading: A long-term approach, trend trading is just as the name suggests - following and capitalizing on a trend. Through thorough fundamental and technical analysis, traders speculate on the trends a market will adopt and respectively place their calls. With indicators like Moving Average, RSI and Bollinger Bands, the process of analysis has been made simpler! A relatively easy-to-implement strategy, trend trading can be a huge success when done right.

4) Swing Trading: With support and resistance lines as two opposites, traders capitalize on the major swings made by the Forex markets. With a good range picked, you ride the tide till it is profitable and exit it as it reaches closing. By continuing this process, which is essentially a blend of day and trend trading, you make a good winning!

Once you have practiced these Forex strategies on a demo trading account, they are all good to be implemented! Every plan is profitable when implemented right. With an experienced broker by your side, you can start drafting your own strategies! Reach out to WesternFX today, and avail our Forex Trading Strategies In Nepal. Our experts will guide you through every trade, and assist with every need to make sure your trading approach is success-worthy!

3 Key Facts Of Forex Trading Every Trader Should Know

Often times, only the bright side of Forex is seen by people. This is what causes misconceptions to rise and leads several to believe Forex trading to be a field of easy riches. The reality is completely different. Currency exchange sees only 10-20% of the traders succeed in their venture. Most traders who lose are blindly driven by the need to make profits, and this desire leads to their downfall. A profitable career is difficult to achieve, but certainly not impossible. Governed by a disciplined approach, you can see currency trading success in no time!

Here are the 3 crucial things to remember while trading Forex:

1) There Are No Overnight Profits: If profits could be made in an instant, every other player in currency markets would be rich today. Forex is like any other field when it comes to success, it is only reached over time. A field rich with numbers, foreign exchange requires that traders spend more time studying than trading! Traders reach to the top solely through research, practice and adept implementations. You won't have to spend years to master Forex Trading, but the process won't happen overnight either. There are never any shortcuts, whether you trade in markets or do Online Trading; the outcome is always the same! The ingredients to achieving success are mainly research, patience and practice.

2) Never Compare Yourselves With Others: "Tom trades the same timeframe as me, but he earns more", "Cindy uses a different strategy, maybe that's why she profits better." These types of thoughts are natural in Forex markets. As the saying goes, the grass is always greener on the other side. While you are busy comparing your wins with others', ample opportunities are passing by and you are missing out on them! Instead of lamenting, focus harder on improving your approach. It is always advised to follow professional traders and observe how they trade. Do the same without losing your touch in the process!

3) Stay Resilient: The final step to a having a successful trading career in the long-run is not giving up midway. Traders often give up on their trades when enough profits are not seen, or the trade is growing slowly. Though Forex Trading is known for being liquid, the markets won't always move in your favor. Wait for prices to hike or drop as you want them to. Protect your trades with proper stop orders, and make a few risky calls! The perfect balance of risk and control is what will help net in good wins.

The world of trading is evergreen and has immense potential for growth. Be it Share Trading In Nepal or foreign exchange, with the proper broker guiding you, any field can be mastered! Get yourself the best brokerage today, Call WesternFX! With the assistance of our experts, you can grow your trades and see profits in no time! Reach out to us now and get a Free Quote.

How to Get into Stock Market Trading in Nepal | Beginners Guide

While becoming a trader might be an easy deal, staying in it isn't! Stock markets today have grown to become an incredibly profitable venture. To get started, all you have to do is sign up with an established broker and get yourself a laptop with a good internet connection. This setup phase is a cakewalk with barely any complication. The difficulties start to set in when trades begin to happen. Things like market volatility, economy fluctuations and trade risks get in the way of you and profit. 

To reach levels where profit comes consistently will take a lot of practice and experience! Several stock traders face a hard time in their climb to the top. Though thousands of traders enter trade markets, very few manage to see success. Once you get a good grip over the basics, you can start making rapid growth!

Experts Advice for Stock Market Trading in Nepal

Here are 5 essential steps to becoming a successful stock trader:
 

1) Learn to Take Losses: As a beginner, it is natural to make losses in some trades. A field like a share trading, that has the potential to be immensely rewarding, isn't going to go easy on you! Several factors exist on small and big scales that can affect the stock markets in Nepal. As a beginner, protect your trades with risk management techniques but also learn to take losses. Losses can't be avoided, and the best approach to deal with them is to minimize their occurrence! 

Make mistakes, learn from them, and evolve. After all, without losing money, how is its value known?
 

2) Learn the Basics: Internet is a bigger boon to us than we will ever realize! With information to almost anything online, all you need to do is a search for it, which once again, is just a few clicks. Share trading basics can be found across several blogs and videos. The first requirement to become successful at equities is to know how the various stocks function in different market conditions. From using trading platforms to devising strategies and employing them - educate yourself on the basics before advancing. 

Several Forex brokers in Nepal provide demo platforms to practice with virtual money, and this feature can prove amply helpful to beginners.
 

3) Start off Slow: Moving slowly but surely, are times better than moving swift with no guarantee of safety. The drive for money is an obvious and necessary motivator; however, when this desire exceeds healthy amounts, it can become catastrophic. When you are a novice, invest in smaller amounts. Stock markets & Forex trading in Nepal can subject you to high levels of volatility, and this makes the trading environment extremely erratic. To thrive in such a field as a beginner won't be easy. Starting off, your goal should be to minimize losses, not maximize profits. 

Start off with small investments, but ones that have a high chance of yielding well. Doing so keeps you safe from market changes and helps avoid losses!
 

4) Practice Money-management: Without getting good returns, you won't be able to reinvest; and without managing your initial investments, you can't get good returns. Money-management skills are a requisite if you want to leave a lasting mark on the stock markets in Nepal. While a strong understanding of strategizing and implementing is required, it is no good if you can't handle your investments properly. The profits you earn from multiple good trades can be wiped out by a single bad one! 

Several stock investors have a hard time wrapping their mind around stock volatility and end up losing in plenty. Study stocks and their value across different environments; similarly, learn how to invest, what to invest in, and what not to invest in!
 

5) Observe Professionals, Don't Mimic: Treading down the same path as professionals might sound like the easy way to the top, but it is sure to backfire. There is a fine line of difference between observing professionals, and blatantly copying their methods. As experienced traders, they have a clearer view of markets and know how to function in various situations. With good observation, you can learn how different stocks function, which ones are the most lucrative in each season, and how to invest right. Copying their moves, however, is bound to put you in a sticky spot. 

Professional traders have sophisticated techniques, or methods that as a novice, you don't know yet. While certain trade steps work out for professionals, there is no guarantee the same has to work for you.
 

Equipping yourself with ample knowledge and a reliable stock broker in Nepal will help ascend to the top faster. To succeed in the highly competitive field of stocks, you will have to be adept in your approach. Sign up with WesternFX today, and dominate the share trading game! Assisted by our experts, you can avail the best of facilities, from trading platform to strategies. Call us now and ace the stock market in Nepal!

Expert’s Top 5 Tips for Beginners to Make Better Forex Trading

The secret to becoming successful isn't one of huge mystery, with a systematic approach; every novice can climb to the top gradually. Foreign exchange boasts an environment of consistent analysis and is a field that requires thorough research. In a trade market like Forex, discipline and resilience are the governing factors to achieving success! 

There will be many who claim they know the shortcut to become a successful trader; but in reality, growing into a professional is a slow process. Over multiple bad trades and losses, you will learn how to avoid them and direct your approach towards maximizing profitable outcomes.
 

While plotting a strong trading plan and entering/exiting a market at right points are important, there are some basic steps to take as a trader that will benefit you and the trades you make! 

Here are 5 immensely useful tips to better your trading approach:
 

Beginners Tips for Forex Trading in Nepal

1) Educate Yourself: Forex is an incredibly vast field, with one too many aspects to grasp. Agreed that starting off, the amount of learning required can be mammoth, over time it becomes a habit. With a number of influencing factors affecting price movements in Forex trading, it is important that as a trader, you have a comprehensive understanding of these. Spend ample time researching about currency trading, and the various sub-categories it houses. When you are well-learned, having a productive trade is inevitable. 

Choosing the best currency pairs, having the perfect trade points, preemptive loss-management, and various such aspects will become a part of your routine.
 

2) Maintain Notes: Seldom followed by traders, but remarkably effective, keeping a track of your trades can be the key to becoming successful in the long run. As a Forex trader, you will partake in various trades, with a number of different strategies and approaches followed. Each of these trades will yield a different outcome. Now with these numbers on the table, you will be able to form a detailed trading graph. Trades can result in one of three outcomes - profit, loss, or breakeven. While some of your trades might reel in big profits, some might crumble into a disappointing loss.

When you learn to maintain a track of these trades, how they came to be, and if they could get better, you evolve as a trader. A systematic approach will carry you miles ahead!
 

3) Follow A Routine: What sustains a person is a steady routine. Be it eating timely meals, or working out regularly - a regular set of activities are important to keep one in check. The same concept applies to online share trading. Obeying a pattern while trading can help ensure lucrative outcomes. A field of immense volatility, it is impossible to predict what will happen in a currency trading. With chaos governing a majority of foreign exchange, having an equally chaotic approach will worsen your market experience! By sticking to a routine, you avoid having to deal with the mess. This routine can be a personal one or one that pertains to trades. 

From waking up to eating at fixed times, trading on known timeframes to picking specific currency pairs, follow a routine you are comfortable with.
 

4) Play It Safe With Leverage: A huge motivation for people to start trading currencies, leverage can be a sharp double-edged sword! In order to trade positions of higher value, brokers equip traders with leverage, which is essentially borrowed money. So with 50:1 leverage, you can trade $50,000 with an investment of $1000. The problem, however, is when you lose 50:1; you lose $50,000, not just your initial capital of $1000! Several traders are misguided that investing big amounts will help bring in big profits. This leads to many players leveraging grandly, only to end up losing it all. 

Forex trading in Nepal is a very lucrative market, but one that sees immense volatility; hence it is advised to invest small initially!
 

5) Allocate Risk Capital: Since losses can't be avoided in Forex trading, being prepared to lose is the best approach! As an adept trader, dedicate a portion of your capital for loss, irrespective of whether you lose it or not. Even when equipped with a strong strategy, there are always high chances for a trade to turn uncertain. By dedicating a part of your investments as risk capital, you can mentally prepare yourself for potential losses, and stay braced when it is incurred.
 

Success in any venture is only obtained as a result of continuous work. Forex trading especially isn't a field that is quick to reward; with its various hurdles along the way, you will have to stay persistent to win! With the right brokerage to guide you, the journey to victory, as arduous as it is, will be plenty enjoyable and lucrative! Call WesternFX today, and avail our excellent FX solutions. From platforms to strategies, we will assist you 24x7, to ensure you become successful at Forex trading in Nepal in no time.

Do’s and Don’ts of Stock Market Trading & Investments

The stock market is a vast place, a field where the boundaries are ever-expanding. Thousands of traders swarm into the share markets with the goal to win big and return home victorious! Starting off, several stock traders find themselves lured towards the promising prospects of profits, and enter the markets headstrongly. The reality however remains, that share trading & forex trading is risky as it is lucrative; and as beginners, traders seldom know the right decisions to make!
 

Here are 4 do's and don'ts of stock trading every beginner should be aware of: 

Stock Market Trading Do's and Don'ts

Stock Market Trading Do's:

1) Branch Out: Diversification is the key to having a successful and lasting career. Stock markets equip you with plenty of openings to invest in. If you keep all your eggs in one basket, your resources will burn out eventually. Keep multiple investing alternatives in place.
 

2) Consistent Research: Trading isn't a game of chance; it requires strategic prowess and a good grip over market movements. Both of these come with studying and practice. Research day in and day out till you are amply filled with knowledge!
 

3) Start Small: Stock traders make a grave mistake of going all-in and investing all their money. Investing more will yield more - this is a huge misconception! Start off small, invest little amounts. Trading immediately with $100,000 and losing it, will leave you broke and unable to trade again!
 

4) Wait For Results: Stock trading, or any branch of trading for that matter, is not going to birth results the very next day! Patience is a virtue, and in share markets, this is one of high requisite!
 

Don'ts in Stock Market Trading:

1) Lose Your Cool: Governed by unpredictability, the stock market is no place for making hasty decisions. Don't lose focus of your goal, and don't let emotions jeopardize a good trade!
 

2) Follow The Crowd Blindly: Herd mentality is one which will seldom play out in your favor. While following professional traders might serve as a pillar of support, don't make it a habit!
 

3) Treat Stocks Like A Gamble: Trading is far from gambling. There is no get-rich-quick scheme active! Hard work is what will bring results, not luck.
 

4) Get Greedy: Trading will definitely reward the adept trader. However, trading just for the sake of making money won't deliver the results you expect! Let the money flow in when it does; focus more on yourself as a trader.
 

Time plays a crucial role in the life of every share trader. No one makes it to the top within weeks; it takes experience and practice to reach the peak. Want to conquer the stock market in Nepal? Call WesternFX today! Assisted by our world-class brokers, you will achieve trading success in no time!

How To Become A More Confident Trader In Forex

Trading is no simple task; it is physically and emotionally taxing. Succeeding at Forex takes a lot of confidence and determination, most of which novices lack. A successful trader is one who stays resilient through multiple losses and continues to work towards betterment. In the competitive field of Forex, only the persistent ones win. However, starting off, traders get deterred easily after a few losses, and bad trades are absolutely nightmarish! Only when you trust yourself and your actions can you succeed in Forex.
 

Here are 3 stellar approaches to Forex trading:

 

How to Improve Your Confidence in Forex trading?

1) Having A Strong Mentality: The one constant in Forex is a loss. No matter how favorable conditions may seem, losses are inevitable. Good trades and bad trades are still trades all the same! Players in foreign exchange beeline towards profits and ultimately end up losing more than what they invested! Even the best trade can turn awry in an instant. Take losses in a sportive manner, and learn from them. There are no loss-proof Forex trading strategies, the only strategy is to embrace losses and work harder towards the next best goal!
 

2) Improve Wholly: Giving up everything to become a trader might be a good movie plot, but it definitely isn't applicable in real life. While focusing on improving your trading skills, give equal importance to your other aspects. Some traders are good at writing, drawing, dancing, and so on; when you learn to prioritize everything evenly, you will experience an overall growth that supplements all your skills. Going headlong into the markets might fetch good money initially, but it will rob you of your creativity!
 

3) Staying Undeterred: Obstacles will appear one too many times in Forex, whether you like it or not. Like rainbows appear after a storm, victory will present itself only after a barrage of difficulties! Be it abrupt downfalls, or straight up losses - you will face harsh treatment in the waters of foreign exchange. However, to get to the other side and taste profits, these will have to be borne. No matter how arduous, adapt to the environment and learn!
 

The best Forex trading strategy won't teach you how to shape your mentality! It is something learnt from experience and observation. Currency trading can be a powerful tool in the hands of an adept trader. Become one today, call WesternFX! With our stellar brokerage by your side, you will master Forex trading in Nepal!

2 Best Forex Trading Trends to Follow in 2018

Every trade in Forex follows a trend, without one, trading would be no different than gambling! From long-term trends that extend months, to short-term trends that last a few minutes - patterns are everywhere in Forex! They just need the right eyes to capture. Each price movement is profitable in its own way and poses a substantial risk all the same. With random movements occurring so frequently, getting your hands on potential profits can be immensely difficult! Evil with the entire short, long-term trend following, winning foreign exchange is a challenge.
 

Here are two stellar trends following strategies to use in Forex:

Forex Trading Trends 2018

1) Using Breakouts: Bullish trade trends predominantly see breakouts. Every trade at one point or another, under the good market condition, experiences a breakout. When you are on the high tide, a big trend is immensely valuable. Long-term Forex traders wait months to catch a big fish and sail the profitable wave! The best way to be on the dominant side of every trade is to buy breakouts. As a smart trader, your first watch for levels with strong resistance and wait for them to break. These events have a slow rate of occurrence, which is why; patience plays a crucial role in winning breakouts. 

Winning these trades isn't as arduous as it seems. Equip yourself with an adept Forex trading strategy - one that goes over chart patterns, potential price drops/risks, and focuses on catching a rising trend, and keep the right indicators in place. With this done, you can capitalize on breakouts mighty well!
 

2) Milking the Trend: Forex trading poses a significant challenge to every trader. To be successful in the long run, you have to know the difference between being brave and being foolish! There is a fine line segregating this difference. Many Forex traders, consumed by leverage, emotions and the need to make more money, don't leave a trade. They hold positions until their account burns out and losses make the home. On the other hand, there are players who back out after a small profit, which only barely places them at breakeven. To win a trade, you have to capture the best of both said examples. 

Trade too much, and you will lose everything; trade too less, you'll not win anything! When you notice a trend, hold it and try to milk it for what it's worth! Keeping early stop orders will snatch the chance of a potential profit away from you. Grasp market movements and accordingly make a decision.
 

It takes years for professionals to stand atop Forex trading. With such lucrative openings, there has to be an element that makes currency exchanges a challenge! However, the right Forex trading strategy in the right hands can reel in the best of profits. Get yourself an excellent Forex broker today, and dominate your trades! Call WesternFX now, and hire from our arsenal of superior brokers. They will guide you through each endeavor and ensure you emerge victoriously.

4 Types of Charts in the Forex Exchange Market Nepal

To survive the complex world of Forex trading, analysis and research are a must. From knowing entry points to setting stop orders, most of the generic operations involved in foreign exchange rely heavily on chart analysis. Building Forex charts help traders understand the market better and make profitable calls. With well-drafted charts, players can conduct in-depth technical analysis and take educated decisions.
 

Four factors are considered while developing a chart in Forex:

Online Trading Chart Patterns

1) Opening price.
2) Closing price.
3) Maximum price.
4) Minimum price.
 

With these in mind and variables in play, any type of online trading chart can be constructed. Here are the different types of graphs:
 

1) Tick Chart: A very small scale depiction, this chart shows single price changes in the market. There is no sort of binding between this and the time interval. Tick charts serve incredibly well for market analysis. It's a typical bar chart, and with parameters like an opening, closing point, highs, and lows, catching a profitable wave is easy for any Forex trader!
 

2) Bar Charts: A bar pattern shows the opening, closing prices and the peaks, drops of the same. This is represented in the form of a vertical bar. The bottom shows the lowest price, while the top denotes the contrary. Similarly, the left side hash denotes the opening price, while the right denotes the closing.
 

3) Linear Graph: Linear charts are a simple connection between closing prices. When done sequentially, it generates a graph containing various closing prices. These serve as opening points for newer trends. Though price changes can't be evaluated as such, this methodology helps in placing stop orders.
 

4) Japanese Candles: An immensely flexible method, Japanese candles can be used across multiple timeframes. Depending on which timeframe they've been implemented on, respective price action is described. The "body of the candle" is the difference between opening and closing prices. If the latter is lower than the former, the body will be black. The opposite scenario results in a white body.
 

Backed by strong research and a good grip over trade charts, Forex trading can be mastered easily! Several traders incur losses due to poor planning and haphazard execution. Don't make the same mistake! Get yourself a world-class Forex broker to aid you with your ventures - call WesternFX. We house an arsenal of stellar minds, who will assist you with superior strategies and impeccable platforms. Avail our services today.

How to Pick the Perfect Forex Broker for You in Nepal

Trading currencies are easier said than done. Without the aid of a broker, even one trade will be hard to pull off! From providing trading accounts, to teaching on demo platforms, to aiding in strategizing - your broker is more of a partner than an agent. Today, Forex trading has become extremely lucrative and houses immense profits; over $5 trillion of value is traded every day. This profitable nature draws in several brokers who are professional at scamming! Partnering up with a bad broker can lead to several complications. When it comes to selecting a brokerage agency, one can never be too sure.
 

Keep these factors in mind while choosing a Forex broker:

Tips to Find Best Forex Brokers in Nepal

1) Established Regulation: You can't entrust thousands of dollars to some shady broker. Several brokerage agencies exist solely to trick newbie Forex traders into investing huge amounts and losing it all in the end. However the good part is that several financial institutions have been established to regulate brokers, like - National Futures Association (NFA), Commodity Futures Trading Commission (CFTC) etc., govern over the brokers in the United States. Similarly, there are dedicated institutions for each country. Check if your online broker is regulated before proceeding.
 

2) Demo Accounts: Demo accounts play a huge role in governing the efficiency of your broker. Every Forex trader has to learn initially, and demo accounts are the perfect means to. Be it devising a strategy or learning the various charting tools, these are best done on demo accounts. Even professional traders use demo accounts to plot different strategies and test the outcomes. If you're new to Forex trading, it is advisable to pick a Forex broker who gives you demo platforms.
 

3) Convenient Leverages: Though they carry an element of risk, without leverages, currency trading is difficult. If you want to trade on larger values than usual, you will need immense investments; these are provided by brokers in the form of leverage. With this borrowed sum, you can trade freely without any financial constraints. However, it pays off to keep in mind that leverages are the primary reason for losses. Forex traders often get carried away by leverage amounts and end up losing massive sums in the end. Play it safe with leveraged money!
 

4) Customer Service: As mentioned earlier, brokers are more than agents. Their assistance is very crucial and can save you from losing trades. Most of the brokers are experienced and know how to deal with the randomness of Forex trading. Should you ever find yourself in a losing trend with nobody assisting, you will only have your broker to rely on! Pair up with an agent who is always ready to help, and as immersed in the trade as you are!
 

With a good broker besides, conquering Forex is easy! Equip yourself with a stellar strategy, adept trading platform and a knowledgeable broker, that's how you win at currency trading. Want to hire an amazing Forex broker in Nepal? Call WesternFX. Our unmatched brokerage and world-class trading platforms will aid you to succeed in all your trades.

4 Tips To Find Yourself An Amazing Forex Broker in Nepal

The $5 trillion dollar market of Forex needs no effort luring in traders; its sheer liquidity reels in the crowd! With currency trading accounting for such a mammoth value, every trader wants to pair up with an amazing broker and make good money. However, money attracts all sorts of evil. There are several brokers who play nice and will scam you the first opportunity they get. Getting a reliable and trustworthy broker is one of the first steps to your Forex trading success. 

Here are different aspects that will help you find an amazing Forex broker:

How to find a best suitable forex broker for your trading

1) Demo Account Provision: Novice traders underestimate the power of demo trading accounts. Without a good account to practice with, learning the real-time market is impossible! Even the best online traders have learnt from demo accounts. Trying to enter the market directly, without prior practice will lead to severe repercussions! A good broker will provide you with a demo account loaded with all the necessary features to learn the art of trading.

2) Spreads Charged: Spreads and transaction fees are the main source of a Forex broker's income. In Forex it is common to come across brokers who claim to not charge any commission; don't fall for such scams. Similarly, a broker will fool you by offering high leverages. Although leverages can be beneficial, in the event of a losing trade you will end up paying a hefty sum to your broker! Be wise with the spreads and leverages offered.

3) Quality of Customer Care: New traders are ignorant to the fact that down the line, their broker will play a prominent role in their trading career. Customer service is substantially important when it comes to Forex trading. With such a volatile market and large amounts of leverages on the line, precision in speculation is necessary. During tough trades, you will need your broker's assistance more than anything!

4) Currency Pairs: There are several currency pairs in Forex, and no two pairs are always trending. Some brokers only offer specific pairs. However, the predominantly trending pairs are sometimes left out by brokers. Ensure the broker you partner with provides the pairs you wish to trade in and has impeccable support facilities.

Aided by a good Forex broker, trading will be a cake-walk! From strategies to currency pairs, make sure you get the best. At WesternFX, we strive to provide our customers with perfect trading solutions and services. From helping them devise plans, to providing 24x7 support, we offer a complete package! Call us today to avail our online Forex Trading services.

Things You Should Know About Your Forex Broker

When it comes to picking an online broker, confusion suddenly spurts. There are several categories that govern the efficiency of a broker. Misconceptions are common when it comes to judging a broker. Some demand unjust commissions, while some demand rates so low that it's misleading. You are essentially viewing brokers through an opaque glass and not everything they do will be visible to you! 

From boastful claims to suspicious profits, here are 4 things you should know about your online broker:

Things You Should Know About Your Forex Broker

1) Regulation and Financial Backing: The first thing you ought to ask your broker is, if he is regulated by a well-established financial agency. In an era of infamous scams and escalating scandals, having a regulated broker serves as a seal of assurance. Additionally, brokerage agencies aren't constructed on a million dollar base; they need to make money just like you do. This is done using spreads - the difference between selling prices and asking prices. It is a good measure to compare and watch the spreads your broker charges and ensuring it is just. 

2) Customer Service Quality: Novice traders often fail to understand the importance of good customer service. Forex trading isn't a one-man show. Both the trader and the broker are essential for a deal. Forex operates round-the-clock and through the week. Traders can only make calls depending on the overlap of time-zones and brokers are responsible for facilitating this irrespective of the trader's region! From Monday to Friday, Forex brokers should offer undivided assistance.

3) Demo Trading Account: A major deciding factor when it comes to picking a online broker is the provision of demo accounts. The first best way to learn trading is by trading on a comfortable trading platform. However, with the volatility of Forex trading markets and the immense risks involved, it is best to learn on a demo account before committing full-time. Demo accounts let traders experiment around, devise trading strategies and see the consequence of their actions - all without any physical, real-time losses. There can be no compromises when it comes to demo accounts and trading platforms.

4) Leverages: Investing a few thousand dollars might seem possible, but how do you work your way around a $10,000+ trade without shelling some capital? To aid traders financially, brokers offer leverages. Leveraging essentially means to borrow a certain amount from the broker for a trade. The positive side is that leveraging allows you to trade huge amounts without leaving a hole in your pocket; the downside is that if you incur a loss, not only do you lose your money; you lose the borrowed amount as well. Always tread carefully while leveraging. 

Forex demands traders to partner up with reliable and trustworthy brokers, the lack of which will brew inefficiency and incapacitate the trader. Hire the best, hire WesternFX! Forex trading in Nepal is as appealing as ever and now is the right time to invest. With our stellar brokerage assisting you throughout, you will notice no hindrance. For availing the services of the best Forex brokers in Nepal, call us today.