Tricks to Choose a Better Forex Broker in Malaysia 2018

To achieve trading success in Forex, the first and foremost requirement is a good broker. Forex traders often seem to believe they are completely responsible for the outcome of an exchange; brokers play as big a role as traders do in currency trading. Under a reputed brokerage, even a bad trade can be turned profitable! However, finding a good broker is no longer a simple job, it's a challenge. Several agencies scam novices with lies of confirmed profits, and big wins. However, there is no formula in anyone's hands to make guaranteed profits!
 

Braving the chaotic world of Forex requires impeccable brokerage. 

Here are 4 factors to keep in mind while choosing a Forex broker in Malaysia:

Forex Broker Selection Tips

 

1) Legitimacy: As said before, Forex brokers are in plenty; the good from bad, no one can tell. Before delving in, you should know if your broker is who he says he is, and if the agency is regulated. To prevent scams, and protect traders, establishments like NFA (National Futures Association) and CFTC (Commodity Futures Trading Commission) have been placed in charge. Several other bodies exist, depending on the genre of trade, and the location - FCA, PRA, AMF, etc. Ensure your broker is regulated by one such body.
 

2) Commission Costs: Transaction costs and commissions are permanent in Forex. It is crucial to find a broker who charges justly. Usually, better brokerage comes at high costs, but it's worth the pay! However, make sure you review Forex brokers thoroughly before accepting to pay and avail their services.
 

3) Trading Platform: Trading is facilitated through the help of tools called trading platforms. These are loaded with mechanisms to gauge markets, study their movements and speculate outcomes. Without these platforms, judging markets is an arduous task. Platforms vary from one broker to the other; get yourself a broker who provides the best.
 

4) Customer Care: While you might think brokerage stops with a trade, it carries further beyond! The way a broker treats his partners tells a lot. During your trading venture, you will require expert assistance on one too many occasions. Your agent should provide the best solution, without delay. Be it a technical one or even a small query - customer service tops every other factor of rating.
 

The path to becoming a successful Forex trader is often paved by a good brokerage. Albeit, your skills will have to be impeccable, so will the agent's! You can get yourself a world-class Forex broker in Malaysia today and conquer the world of currencies - call WesternFX! We will equip you with the best of services and solutions, and ensure you skyrocket to your goals!

3 Things To Remember While Trading Forex Online

Gripping the Forex trading markets might seem easy, but holding on isn't! Currency trading is known for its unpredictability and the sheer chaos it houses. Day in and day out, traders enter a foreign exchange with an aim of profiting huge, only to return back with mounting losses. Succeeding in foreign exchange requires immaculate levels of skill, consistent research, and thorough market knowledge. Only 5-10% of traders manage to make it to the top. For starters, equipping yourself with a good Forex trading strategy is the best way to ensure success.
 

Here are 3 things to remember while trading Forex online:

Things to Remember in Forex Trading

1) Devise a Top-notch Strategy: Without a good trading strategy, leave alone winning, even surviving a trade will be impossible! There exist several plans for traders to choose from, depending on their style and the kinds of outcome they expect from a trade. An important thing to remember about Forex is its extreme volatility, and how any trade can turn awry in an instant! With the aid of a proven strategy, you can maneuver away from any and all obstacles!
 

2) Don't Cross The Line: Overtrading is a serious problem several players face in Forex. Being a leveraged environment, the temptation to "invest just a little more, a little longer" is too high! Though margins and leverages are for a trader's benefit, misusing or overusing them will lead to dreadful consequences. Example, a leverage of 100:1 will allows you to hold $100 of trade value for every $1 you own, so with $10,000 in your hand, and $1,000,000 as leverage, you may have a rich trade, but losing this would result in losing the complete $1,000,000, not your initial capital of 10,000.
 

3) Stop Losses with Stop-losses: Unpredictable environments, high rates of volatility, and a plethora of external factors to tip the balance - how can one avoid losing money under such dire circumstances? With the use of stop losses! These wonderful elements help traders focus completely on their game without having to worry about price movements. With a stop-loss in place, you can fearlessly involve in a trade; should a certain amount of loss incur (preset by the trader), the mechanism will automatically pull you out of the trade!
 

Mastery over Forex comes to those who are willing to brave the odds with unbreakable resilience! Across the hurdles, immense profits await; get yourself to the professional side, hire the best broker - WesternFX! Our tested Forex trading strategies and impeccably developed platform will pave the path to your trading success.