A middleman whose job is to execute buys and sells in the market for their clients (traders).They receive a commission/fee for matching buyers and sellers against each other.
Digital currency that is not controlled by any government or central bank and is secured by cryptography. This form of currency uses blockchain to make payments and transactions.
A computerized system that allows a trader to trade with liquidity providers with the best bid/ask price while giving them direct access to other participants. Complete opposite of a market maker broker. These brokers have no conflict of interest as they will never take the opposite sides of your trades.
A commodity used as a safe haven that has a negative correlation with the US dollar. It is a metal and as demand increases so does its value. The reason why gold is a safe haven whenever there’s turmoil in the United States is because central banks can’t just create more of it like they can with currencies. There’s only a finite amount available throughout the world.
An increase to trade with a value far greater than the capital a trader has in their account. If your leverage is 1:50, that means if you have $1000 in your account, you’ll be able to trade as if you had $50,000 in your account ($1000 x $50,000). With greater leverage comes bigger gains AND bigger losses.
BeginnerEarly Stages For Beginners8 Topics
Forex Terminology11 Topics
- Major and Minor Currency Pairs
- Basic Forex Terminology
- Pips & Ticks
- The Broker & The Spread
- What is a Lot?
- Stop Loss & Take Profit
- Margin & Leverage
- Retracement & Reversal
- When Can I Trade Forex? Sessions - Market Open and Close
- 3 Types of Analysis (Technical, Fundamental, Sentiment)
- 3 Ways a Market Can Go (Up, Down, Sideways)
Margin & Leverage2 Topics
IntermediateIdentifying Scams2 Topics
Brokers for Beginners5 Topics
Technical Analysis13 Topics
- Types of Charts
- Understanding Japanese Candlesticks
- Candlestick Patterns For Beginners
- Single, Double & Triple Candlestick Patterns
- Support and Resistance
- Confluences w/ Candlesticks & Support & Resistance
- Counter Trend Trading/ Counter Trend Lines
- Moving Average
- Top-Down Analysis
- Consolidation Trading (Breakout, Retest, Continuation)
AdvancedUsing Indicators6 Topics
Technical Analysis (Part 2)8 Topics
Market Structure5 Topics
Fundamental Analysis9 Topics
CompletionRisk Management for Beginners8 Topics
Psychology for Beginners7 Topics
Personal Psychology Questions2 Topics
Access to All Pairs
Also, unregulated brokers let you trade WHATEVER you want whereas regulated brokers do not because…. They’re regulated. Meaning, you can trade Gold LEVERAGED whereas Forex.com (#1 regulated broker in the US) lets you trade Gold, just not on leverage. Meaning whatever position you open, you have to high that amount of money in your account. Other regulated brokers like Oanda don’t even allow you to trade Gold on their platform.
Indices such as US30 and NAS100 that have been popularized by social media can be seen on the majority of unregulated brokers whereas it won’t be seen on the majority of regulated brokers. Trading Bitcoin (not investing) on a regulated broker in the US is not seen as much whereas that AND Ethereum AND DogeCoin and others are able to be traded on most unregulated brokerage firms.
So there are some pros and cons to both. It is always advised to use a regulated broker due to the fact that your hard earned money is at play. Unregulated brokers can offer a million pros, but there is always one thing that must remain in the back of your mind: there is a small chance that you won’t ever get your money because they don’t HAVE TO.
They can and in the instances I’ve seen, they will…but they don’t have to. A regulated broker, even with the smaller leverage and less access to all types of pairs/indices/cryptos, has to give you your money.
When you’re deciding on choosing a broker, whether it’s a market-maker or an ECN, whether it’s a regulated broker or an unregulated broker, make sure to check out a few more things.
You must check their withdrawal method. Most unregulated brokers offer “Bitcoin” as a withdrawal method. It’s not tracked or traced and comes fairly quick. Regulated brokers are able to send the money via a Bank Wire, PayPal, Visa/Mastercard, and more. Make sure you’re able to get your money back the minute you DEMAND IT!
NOTE: Withdrawals taking 1-4 business days is normal. Make sure the minute you request it, the process has already been started, and there’s no hassle.
Make sure you’re able to contact someone in case there are any problems! If you contact someone, you shouldn’t have to wait 2 weeks to hear from someone. You’re a client and you should be treated as such; so the minute there’s a problem, make sure you’re able to talk to physically talk to someone whether via email or phone.
NOTE: Most unregulated brokers do not operate via Phone. I had an issue with Forex.com and I sent an email to their department, and I got a call within 10 minutes!
OKAY! Enough information on brokers and the History of Forex and definitions within the Forex industry. It’s now time to learn what you’ve been waiting to learn the whole time…. How to read a Forex chart! AKA: Technical Analysis.