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4
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6 MINUTES
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English
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Having a reliable Forex broker and knowing how to make the most out of a good trading platform are essential for your success as a trader. In this chapter, we will examine the types of brokers in forex in the industry to be mindful of. Next, we will discuss a top trading platform called Metatrader 5, as well as provide the next steps to easily start your trading account. Lastly, we will provide good reasons why demo accounts should be used and why backtesting matters.
We also created a simplified broker quality checklist to help you review your forex broker to make sure they match your trading needs.
By the end of this chapter, you will have a clear understanding of the most important factors to check for with your forex broker, how to make the most of your trading platform as well as the understanding of advantages from practicing on a demo.
Understanding the different types of brokers in forex is key to knowing which one you should trust to process your trades when investing.
Let’s dive in.
Here we will cover:
• Overview of different forex broker types (Market Makers, STP, ECN)
• Understanding the benefits and drawbacks of each broker type
• A comprehensive broker assessment checklist to empower traders in selecting the right broker
1.5+ Minutes read to complete
Here we will cover:
• Introduction to the MetaTrader 5 trading platform
• Key features and functionalities of MetaTrader 5
• Customizing the platform and using built-in tools for efficient trading
1.5+ Minutes read to complete
Here we will cover:
• Steps to open a forex trading account
• Understanding account types, leverage, and margin requirements
• Account verification and funding process
1.5+ Minutes read to complete
Here we will cover:
• Importance of demo trading and building trading skills
• How to set up and use a demo account on MetaTrader 5
• Introduction to backtesting and optimizing trading strategies for improved performance
1.5+ Minutes read to complete
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BAXIA GLOBAL LIMITED
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Risk Warning: Margin trading involves a high level of risk, and may not be suitable for all investors. You should carefully consider your objectives, financial situation, needs and level of experience before entering into any margined transactions with Baxia Markets, and seek independent advice if necessary. Forex and CFDs are highly leveraged products which mean both gains and losses are magnified. You should only trade in these products if you fully understand the risks involved and can afford losses without adversely affecting your lifestyle (including the risk of losing the entirety of your initial investment). You must assess and consider them carefully before making any decision about using our products or services.
Baxia Global Limited is a company registered in Seychelles with registration number: 8426970-1, and is regulated by the Financial Services Authority of Seychelles with License number: SD104.
Baxia Limited is a company registered in The Bahamas with registration number: 177330 B, and is licensed and regulated by The Securities Commission of The Bahamas (SCB), (SIA-F234).
The information on this website is general in nature and doesn’t take into account your personal objectives, financial circumstances, or needs. It is not targeted at the general public of any specific country and is not intended for distribution to residents in any jurisdiction where that distribution would be unlawful or contravene regulatory requirements. Baxia Markets does not offer its services to residents of certain jurisdictions such as USA, Cuba, Sudan/Republic of Sudan, Syria, Iran, Iraq, South Sudan, Venezuela, Libya, Belarus, Afghanistan, Myanmar, Russia, Crimea, Donetsk, Luhansk, Palestine, Yemen, Zimbabwe and North Korea.