4 Things to Keep in Mind While Choosing a Forex Broker

A Forex broker is substantial and plays a huge role in ensuring your trading success. However with the market becoming so competitive and traders flooding in, the number of brokers has also increased! Picking from a pool of hundreds of agents can be arduous and confusing; also hidden in this crowd are scammers and cheats waiting to loot you. How do you know who's best? 

Keep the following in mind when picking your Forex broker:

Tips to Select a Good Forex Brokers

1) Demo Platform Provision: Learning currency trading is by no means an easy task. A demo platform is mandatory if you want to learn Forex without bearing losses! Every established Forex broker has a demo platform provision. If your agent urges you to live trade without any prior practice, he's definitely not the right one! Get yourself a brokerage agency that provides a good demo platform to work with and an equally equipped live-trading platform as well.

2) Agency Regulation: We buy branded clothes, electronics and products because of the standard of quality they carry. The same standard applies when choosing a broker. A regulated online broker gives an assurance of safety, and moreover, should your broker attempt to scam you, the governing financial agencies will take strict action to keep you safe!

3) Transaction Costs: Unlike typical beliefs, quality doesn't always come at high costs. Your broker will always charge spreads or commissions for every trade. Striking the perfect balance between quality and expense is the best idea! This doesn't mean you should settle for some shady broker and end up losing the money you wished to save. Pick a broker who charge nominal rates and still offers good brokerage.

4) Customer Support: As a Forex trader, you are bound to house endless doubts while trading. The only person who will help you through your trades, is your Forex broker. The quality of customer support offered by your broker plays a huge role is segregating the good from bad. Be it account issues or overnight trades, ensure your broker is always there to provide necessary assistance!
 

Succeeding at Forex needs an involved and skilled broker! The foreign exchange market is hugely lucrative and with a good brokerage supporting you, profits are a stone's throw away. Looking for a reliable and experienced Forex broker in Thailand? Call WesternFX! Our team of world-class online brokers will help achieve trading success.

4 Stellar Benefits Of Trading On A Demo Forex Account

The high liquidity of Forex (over $5 trillion) has managed to lure in a huge number of gullible traders. Stepping into the currency exchange market without any prior practice will only yield profits driven by luck, not skill. Demo accounts are recommended by several professional traders and brokers because the live market is too risky to delve into without ample experience and practice. Equipped with a good demo account, you can accustom yourself to the market and learn Forex trading without risking real-time money.

Still not convinced? Here are 4 benefits of trading on a Forex demo account

Uses of Forex Demo Trading Account

1) Tasting Your Cup of Tea: Forex trading isn't meant for everyone. Several brokers find stock, options or futures to be better. Instead of investing huge amounts of money only to come to the conclusion that Forex doesn't suit your needs will be a waste of valuable capital. With a demo account, you can experience Forex as close to reality as possible! This will allow you to get a panoramic view of the various elements Forex houses and whether you are comfortable with trading currencies full time - all of this, without risking a dime.

2) Learning Money Management: Down the line, Forex will demand you to be extremely judicious with your money and manage risks cautiously. The high liquidity of Forex is one side of the coin; the chaotic volatility is the other! Demo accounts will help you manage your capital and learn better and wiser ways to reduce your losses. Forex demo trading lets you learn the consequences of your actions and the outcome of various strategies without losing any money or suffering backlashes! This will make you better prepared for when you live trade.

3) Testing the Trading Platform: A good trading strategy and an amply loaded platform to implement it constitute a huge percentage of your trading success. However, there is no point paying your broker and then realizing that the trading platform is inefficient! Demo accounts will let you trade on these platforms and experience first-hand, its features and the convenience it offers. Only opt for a broker, if you're satisfied with the platform he offers.

4) Testing the Customer Service: Brokers play a substantial part in determining the outcome of your trades. A good trader is often backed by a stellar broker! Forex will often put you in dire conditions where solo performance just won't cut it, during such times; your broker's assistance will be of paramount importance. Trading on a demo account will help you test your broker's sincerity and efficiency!

A good Forex demo account makes all the difference. They provide the best and safest environment to learn trading and grow in knowledge before you can trade in real-time! At WesternFX, we have adept brokers and highly efficient Forex demo platforms for traders to experience Forex at its finest. With our constant assistance, you will learn Forex trading in no time!

How To Successfully Start Your Own Forex Trading Business?

For several it's a dream, quitting their job, working from home and making a hefty sum while at it. That's the life of an independent Forex trader. Don't let the fancy lifestyle and huge numbers fool you, the path to becoming successful is studded with hurdles. There are several factors that benefit traders who want to establish a Forex trading business. You can start off with just a laptop, internet and some capital. Additionally, to become a Forex trader you don't need to have a degree, or an office or any expensive technology! The Forex market is open to all, but only the skilled survive.

Here are 3 steps to establish your Forex trading business:

Tips to Start Your Own Business with Forex Trading

1) Gather Capital and Plan Investments: If you want to become a trader the first thing you will need is capital. Depending on the types of trade you want to conduct and the pace you want to follow, the initial investment to put in will vary. Ultimately the target is, to steadily increase profits and not fall prey to too many losses. A good start to this would be to learn the basics from an institution, or take up a full-fledged trading course!

2) Partnering with a Reliable Broker: Brokers are your portal to the market. When it comes to picking a broker, be as cautious as possible! Brokers have their own set of rules and conditions governing timeframes, spreads, leverages etc. Hire brokers that are regulated, have good reviews and offer good customer support. Down the lines, during intense trades, you will need consistent professional help! Make sure your broker provides it. Furthermore, having a regulated broker helps in the event of a scam; financial authorities that regulate the agency will deal with the case and make sure your problem gets a remedy.

3) Practice on a Demo Account: Your foundations have to be strong if you want to build further up. Get yourself a Forex demo account from your broker. This virtual platform will give you all the practical knowledge you need about trading without actually risking any money. Use this to strategize your plans, learn risk-management, loss thresholds and stop-loss implementations. 

Your Forex trading future heavily relies on the amount of practice you put in and how well-researched your schemes are! Equipped with a good strategy, you can conquer Forex in no time. When it comes to getting a broker, don't settle for average. Call WesternFX today! With our stellar Forex demo accounts and unparalleled service, your Forex skills will skyrocket and your business will flourish magnificently.

Why Investing in Stock Markets is Advantageous Compared to Others?

Stock exchange can seem boring from the outset. With months of price holding and chart monitoring, newbie’s are usually quick to turn down stocks! However, compared to the other genre, stocks have several advantages! The first best one being – with stocks, patience, and planning will reel in steady profits. The wait a slight drawback for some; but patience always yields fruit!

Here are 4 reasons why you should invest in stock right away:

Advantages of Investing in Stock Market in Thailand

1) High Returns: Though accompanied by hefty risks, stocks are profitable it dealt with properly. Being a risky asset means even on a good day you might incur losses. However, the plus point remains – in long terms trades, stocks tops all others in terms of profits! Long as you get used to the slow pace and heavy market swings, you can steadily sale to an early retirement.

2) Dividends: A quirky trait! Some stocks offer annual dividends to traders. Annually, investors get income in the source of a dividend. What’s the real catch is that – you can get it even if the stock has lost value. Dividends greatly help you buff your investment portfolio.

3) High Liquidity: Not too similar to Forex trading, but stocks have high rates of liquidity due to their spontaneous and active nature. Day in and day out stocks is sold, making the environment volatile, yet fresh! This allows you to cash out as you like; the chances of you finding a buyer are nowhere below 90. Other trades, however, won’t have this!

4) Taxation Delays: Something hugely beneficial once you start trading stocks full-time, taxation delays in stocks come in handy almost always! If the stock you buy sees a hike in value, you need only report your profits gains rather than filing for the earnings. Similarly, during losses on other trades, you can employ the losses to reduce your taxes!

Stock markets are promising in the long run and preferred by the more patient lot. If you’re looking to conquer the stock market in Thailand, WesternFX is your go-to! With our expert traders guiding you, profits are inevitable. Call us today to avail our services.

3 Exclusive Forex Trading Strategies for Forex Traders in Thailand

Setting up good deals is in every Forex trader's constant thought. There are several elements that a good trade consists of - a strong plan, a good trading platform, risk management measures and a skilled Forex broker. When it comes to devising a Forex trading strategy, you can never compromise. Right from your entry point, to selecting time frames, to your exit - a lack in either aspect will result in a loss! Being meticulous is an indispensable quality while trading currencies

A good Forex trading plan will focus mainly on three components:

• Technical Analysis 
• Fundamental Analysis 
• Risk Management

Forex trading strategy for Thailand

1) Technical Analysis: Figuring out the perfect timeframe and currency pair respectively will give you the necessary edge to dominate a trade. Analyzing the technical aspects of a trade include - figuring out the necessary price-volume ratio, analyzing the market movements and watching out for losing trends. The better your knowledge on these aspects, the better your trading outcome! Having a grip on the market might not necessarily help double your profits overnight, but it will help curb losses consistently.

2) Fundamental Analysis: Fundamental analysis focuses on the components that are non-technical and predominantly too mammoth for a trader to control! Factors like the world economy, a company's economic status, industry conditions, recessions, etc. affect the value of a currency pair severely. Disasters and abrupt political episodes play a significant role in controlling the market. Fundamental analysis helps a trader speculate a commodity's value few months/years down the market.

3) Risk Management: The irony of online share trading lies in the fact that to make good profits you have to take risks, and risks often lead to losses! The key is to manage your risks smartly, such that losses don't have adverse effects and profits are relatively consistent. Risk management comprises of planning, being patient and taking losses positively. Irrespective of the strength of your Forex trading strategy, losses will inevitably occur. To prevent huge losses, implement stop-loss mechanisms and place indicators. These will help you dodge losing trends and withdraw from them immediately.

Strategizing makes up 80% of your Forex trading career. Several Forex traders initially struggle with devising a plan well-suited for their trading style. However, once you draft an adept plan for yourself, you will notice a significant growth in your profits and seldom occurring losses. Don't get intimidated by the vastness of Forex, let WesternFX assist you with our stellar brokerage services. With an arsenal of experienced Forex brokers and dedicated trading platforms, we will ensure your trading experience is profitable as it is enjoyable. 

Call us today to avail our services.