Hi Traders
I am Kelvin Lee and I have been trading the forex market for several years now. In fact, I used to work in a MNC company as a process engineer but I dislike the lifestyle of living on paycheck months after month.
I decided to go in search of ways to make money and I stumble upon forex trading. To be honest, things is not rosy for me at a start, I was wiped out of my trading account twice and it costs me several thousands dollars.
Thanks to my stubborn nature, I decided to hang on to it and put in effort to really study this trade. It took me 3 to 4 months of attending courses and reading books plus 9 months of demo account to eventually learn the skill to quit my day job.
The first problem that I face was to find a good and reputable forex broker to work, what's the point of winning and then the broker runs away with my money. Therefore I spent another month finding a reputable broker by reviewing several brokers.
Now that I have been trading with my broker, I decided to share those homework that I have done with other traders out there who may be looking for their forex broker. I hope that this can be useful for you and can help you to save your time in finding your forex broker.
Below is an article that I have written about the best forex broker selection guide
The forex market is the biggest trading platform in the world with trillions in dollars in daily turnover and getting a piece of that financial pie is foremost in many investors’ minds. However, reality clearly puts things in perspective and reiterates that it takes more than luck to gain a financial windfall from foreign exchange trading. Taking the forex plunge means having to do research on world currencies, price movements, time zones, trade variables, and other complex investment terms and parameters known only to financial experts. Forex trading is oftentimes considered to be an investment vehicle with a very steep learning curve. It is for this reason that utilizing the services of a Top Forex Broker could help in overcoming the first major obstacle of weeding out the useless data from the pertinent ones.
Several websites provide Top Forex Broker lists that could help investors select the right platform to use in forex trading. While these lists are useful in many ways, half of them are thinly veiled marketing promotions to lure investors. Most people can see through this but others may just be encouraged to sign up under false pretenses. To avoid this pitfall, investors should determine what their profit targets are in the short-, middle-, and long-run. Knowing this would give an idea of the initial capital outlay, which in turn could be used to match up with the requirements to open an account with the chosen broker. Knowing the initial capital requirement and any other fees and charges can give the investors an idea how much of the profit is being re-channelled to the broker and how much is actually going to the investor’s pockets.
The selection of a Top Forex Broker can be less stressful if the investor is able to determine if the service offerings match his investment needs and if all fees are disclosed outright. If these are ascertained, then both the investor and the broker can focus more on the actual trading process and start earning profits.
Several websites provide Top Forex Broker lists that could help investors select the right platform to use in forex trading. While these lists are useful in many ways, half of them are thinly veiled marketing promotions to lure investors. Most people can see through this but others may just be encouraged to sign up under false pretenses. To avoid this pitfall, investors should determine what their profit targets are in the short-, middle-, and long-run. Knowing this would give an idea of the initial capital outlay, which in turn could be used to match up with the requirements to open an account with the chosen broker. Knowing the initial capital requirement and any other fees and charges can give the investors an idea how much of the profit is being re-channelled to the broker and how much is actually going to the investor’s pockets.
The selection of a Top Forex Broker can be less stressful if the investor is able to determine if the service offerings match his investment needs and if all fees are disclosed outright. If these are ascertained, then both the investor and the broker can focus more on the actual trading process and start earning profits.
If you are interested to find out more about the homework that I have done for various forex brokers, you can visit my forex broker reviews website where I share my research with new traders.
Your blog is great for anyone who wants to understand this subject more. Great stuff; please keep it up!
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