Forex Broker From Indonesia, Singapore, Malaysia, Australia, which broker? PFR clarifies issues

May 2, 2010 - PRLog -- Whether you live in Australia, Indonesia, Singapore, Malaysia, Thailand, UK, America, there's some Forex Brokers that you should be using and perhaps on the flipside it must be said some online Forex trading brokers that you should not be using. So how do you establish which Forex Broker is the Best?

We sought to clarify some questions that new to the market traders would ask from the outset of starting out in Forex currency trading.

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So we asked PFR about the category of information that Forex beginners would look for in determining or basing an assessment of which online forex currency broker to use or not.
FOREX beginners more than the experienced FOREX traders.

"The answer to this question is quite simple -- currency trading beginners research for FOREX brokers other than from the veterans. novices usually start their search on these standards when making comparison of Forex currency online brokers" PFR said.

"Whether demo demonstration accounts are available; if the broker offers mini accounts; if the broker has low PIP spreads; what difference in leverage levels offered by online brokers. knowledgeable investors, on the other hand, are always looking for STABILITY. Instability can be the most discouraging thing to a point of walking away from trading Forex altogether when problems exist over and over again."

"Second to stability is Forex broker reputation, the country where it is based and that country's FOREX regulations and perhaps other features like different types of trading platforms, Forex pair charts, etc. Regardless of trading skill level, tracking down the FOREX broker has never been easier. Advertisements for FOREX brokers are everywhere on the internet."

"So what should your standards be?  As above as a Novice list above its said that demonstration accounts are one aspect that new to the market traders look for.  Needless to say, Novices should take full advantage of demo accounts to get familiar with the trading software.  Some novices delve into the world of robotic trading systems and automated trading systems that are also on the net through various resellers like clickbank for cheapest prices under $100."

PFR went on further to say "Most brokers will allow you to open a demo account with them for free and with no obligations. demo accounts are the only way to get a good feel of FOREX trading. There are also brokers that provide free charts. Free charts are a really nice complement to the demo account and are usually available through free currency software trading platforms like metatrader 4, MT4, metatrader 5 MT5 which are downloadable link from a broker platform. A Combination these two services helps the novice form a good foundation for their FOREX trading habits that will continue evolve as they gain more and more experience as they progress.  

The other fact is that beginners or Novices should know that there is no one bank that controls all the trades in Forex.

With so many currencies being traded, transactions could originate from anywhere in the world. Therefore having an knowledgeable and trustworthy broker guiding you through the process should help you prevent taking the wrong steps along the way. There is nothing more educational than having someone explain to you the reason behind each action. Searching for a FOREX broker is definitely in your best interest if you are just starting out. Finding the good one is to your sole advantage and could easily be the difference between trading profitably and losing all your money.  Automated trading systems or robotic systems if you want to terminology regularly show comparison reports comparing automated systems against each other.  These comparative reports also show the variability and vulnerability of having poor quality Forex broker data flow versus a good Forex broker data.  Dead tics, platform seizures etc are regularly talked about on currency trader forums which are littered with complaints, issues, problems concerning Forex trading brokers.

PFR went on to further say "Getting involved in the FOREX market is easy. Getting the good advise could prove trickier. If you have performed due diligence in your search for the good FOREX broker, you will feel much more confident about the long term success of your FOREX trading activities.  

Doing a search for the good FOREX broker has never been easier. There are numerous FOREX brokers with particular offers waiting for you. Watch this video on how to search for the powerful FOREX broker now to get you started. It will help you find the many FOREX brokers and their particular offers that can help you on your path to moneymaking FOREX trading.  "

PFR said that they currently offer a free 14 day trial of their website.  The member area has a forex trading signals service associated with its popular live trading room service for members.  PFR said to access the free information trial program you simply register at http://www.proforexroom.com - for a free pass

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Whether your new to currency trading or a seasoned trader, proforexroom is designed to either teach or follow alongside the traders in the room. Proforexroom is a live currency trading room each day during the European fx session in English & Italian. -- http://www.proforexroom.com