Which company has the best reputation for currency (FOREX) trading?
Monday, June 29th, 2009 at
8:31 am
I’m interested in trading currencies with a FOREX account, but I’ve also heard plenty of bad things about numerous companies. Does anyone know which company has the best reputation for FOREX trading?
Tagged with: currencies • reputation
Filed under: Forex Companies
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Wohoho, now you’ll get the list – everyone will pull in its own direction…
In reality, it is difficult to answer, since there is no such rating. If you look at Forex brokers reviews online, there is so much controversy in opinions and experiences, that you’ll probably be lost.
Use the common sense and own judgment. Of course, those companies that are obviously labeled online as scams should be avoided. For others, do a little of research: pay attention to the transparency of the company, by what authorities it is regulated, does it have sufficient information describing the smallest details about trading conditions, try their demo, try contacting them, see how well they respond. Do the same things as you would do when you choose a bank to deposit money.
And finally, when you make a choice, don’t put everything in. Try it first – deposit a small amount. Get experience. If you are satisfied, go on further.
One of the best is “Easy-Forex” but before I would look at any forex trading, I would download the free beginners guide at http://www.forexfromscratch.com
It’s a 5 step guide which shows you exactly how to start profiting from forex from scratch.
It’s a really good read – and it’s free!
Through a simple google search you will find a lot of GREAT websites and a lot more BAD ones. There are more hype mongers in Forex than most any other industry that can cost you a lot of money. Here are some tips:
1) A good way to find out which are the good sites is to go to a Forex Traders forum and read the threads about different services. The most popular is probably forexfactory but there are many more.
2) Another way is to read through a variety of Forex review forums. However, take EVERYTHING you read with a grain of salt. Most review forums also own other websites and will have biases. Also, competitors will post bad threads about their competition.
3) The best way is to find a mentor. Someone who actually trades the market and has experience with the many sites out there.
Good luck!