1. Regulation

Forex brokers may be based in any country in the world. Some countries have tight financial laws while others do not. It is important to check whether the broker you are considering is regulated under the laws of their country, and what those laws actually mean for you. Is the company a member of any regulatory bodies and if so, do they offer you any protection? What would happen to the money in your currency trading account if the company collapsed?

2. Account size

Brokers tend to market their services at a certain level in terms of account size. Some only offer standard accounts with a minimum of $10,000 investment or more. However, more and more brokers these days are targeting their services at the smaller time home investor. In a few cases the minimum investment is less than $100.

The important factor here is to go with a broker who wants clients like you. Do not invest more than you can afford just to get in with a high level broker. There is always a risk that you will lose whatever is in the account. It is better to go with a broker who tailors their services to suit clients at your level.

3. Services

You will want to use a demo account in the first stages of trading so check that this is available and that it works in the same way as the live account.

You will also want to check the charting services that are available. What you need will depend on your trading system, but you can expect brokers to provide candlestick charts as well as the option of bar and line charts, and several indiators including the Stochastic, Bollinger Bands and MACD.

4. Leverage

Leverage varies with different brokers. The most common levels are 100 times or 200 times, meaning that to control a position size of $10,000 you would commit $100 (100 times leverage) or $50 (200 times). Occasionally, 400 times leverage is offered.

High leverage means a greater potential return but also greater risk. If you have a very small balance you may be willing to risk losing it for the chance of greater returns if you are successful, but otherwise it is usually better to keep the leverage relatively low.

In some cases, brokers will offer different levels of leverage to different clients, depending on their balance and other factors such as their trading history.

5. Security

Your money is accessible via the broker’s website so it is important that they have high levels of security. This can be hard to assess so you may want to check for user experiences in forex forums or ask questions of the broker through their support center. Also, of course, make your password as secure as possible by including upper and lower case letters plus numbers and symbols.

There are many forex brokers available and the number is growing. The choice can be confusing, but it is important. If you take account of all of these factors, you will be in a good position to find the best broker for your currency trading account.

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So what are the different types of forex trading account? First let’s take the standard account, which has the highest minimum investment. Most brokers ask for at least $10,000 and with some you need $50,000 to open an account. The standard lot size is 100,000 currency units. So with leverage of 100 times you would be putting up 1,000 currency units per lot.

It’s a lot of money (excuse the pun) and it comes as a relief to most traders to know that they can have a mini account with one tenth the position size, ie requiring 100 currency units to control a lot size of 10,000 units. The forex micro account is one tenth of the size of the mini, with a lot size of 1,000 units that you could control with just 10 currency units assuming 100 times leverage.

So why is the standard lot size so big? Years ago, before the rise of the internet, forex trading was done through dealing desks. Most trading was in the hands of the large financial institutions such as banks. It was possible for private individuals to get involved, but they had to phone a broker to give their instructions. The time cost of this meant that brokers would only consider taking on clients with a substantial amount to invest.

However, when brokers began transferring their services onto the internet, the costs were slashed almost at once. It was no longer necessary to have a staff of dealers answering a bank of telephones. Traders could control their own accounts from their own homes or offices, by logging on to the brokers’ website.

This means that it is now cost effective for brokers to offer much lower lot sizes and therefore much less of a minimum investment. Brokers leapt at this opportunity to attract a huge number of new clients, and the forex mini account was born, soon to be followed by the micro.

The minimum investment varies with the broker. Scaling down from the standard lot size you might expect the minimum for a mini forex account to be $1,000 to $5,000. In fact, many brokers will let you start with less, but it is better to have that kind of sum if you plan to trade mini lots. If you have less than $1,000 to invest in your trading, it would probably be better to start with a micro account.

There is something else to consider too. Taking the example that we gave earlier with 100 times leverage and assuming that the currency unit in question is the US dollar, if you open a forex mini account you will be dealing in lots of $10,000, requiring you to put up $100 for each trade. To many people that can seem like a lot of money. Remember, forex trading is very risky and your trades will not always be profitable. Some losses are inevitable. Are you comfortable with committing $100 to every trade?

If not, then a micro account might suit you better, at least at first, even if you have more than the minimum required to open a forex mini account.

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The word forum comes from the big open square in the middle of Roman cities where citizens would gather to hear the news and discuss important current issues. Formerly known as bulletin boards or message boards, online forex forums are sites where traders can go to discuss issues related to forex trading. A few are restricted to paid members, but most of them are free and can be accessed by anybody who chooses to register a free account.

In an active and popular forum, there are usually several discussions underway. If you post a question or comment you can expect to receive a fast reply. The only problem with this is that you usually do not know whether the replies can be trusted.

Forum members may appear to be experts but they could be anybody at all. It is easy to hang around long enough to pick up the language, then start handing out advice to others. Some might be complete beginners. Is their advice really valuable to you?

Of course in some cases there may be indications that a person is well qualified to help you. For example, you can often see how long the person has been a member and how many posts they have made. Someone who has been an active member for a long time may be a better advisor that someone who just joined. Or so it seems. But what if that long standing member just likes hanging out in forums?

Even the best traders who are actively making money from forex can sometimes give conflicting advice. Traders have different attitudes, systems, strategies and priorities. Oftentimes they may take more of a risk than a beginner would be comfortable with. This means that it may not be possible for a beginner to follow what they suggest.

A forex forum is a useful place for certain types of discussion. For example, it can be great to get feedback from other traders who have used a particular product or service such as a broker or an automated trading system. You still have to keep in mind that different people have different abilities and expectations, of course. Just because somebody could not figure out how to use something, does not mean that anybody else would have a problem with it. Try to get a range of opinions and look for responses from people who are in a similar situation to your own, when checking out reviews on a forex forum.

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If you do not yet know how to read a candlestick chart, do not be concerned. Everybody has to start sometime, and candlestick analysis is really very simple. The charts are easy to read at a glance. In fact, it is one of the simplest methods of financial trading analysis. Not surprisingly, it is also the most popular type of financial trading chart.

You may see these charts referred to as Japanese candlestick charts, and that is because they were invented by a Japanese commodity trader named Homma in the 18th century. Before that date, traders had relied only upon simple line charts that tracked only the closing prices. Bar charts were developed to show the open, high and low as well as the close, but Homma’s candlesticks did the same thing in a much more visual way.

Homma was a phenomenally successful trader and this meant that his candlestick analysis chart was soon copied by other traders in Japan. Charles Dow, who founded the Wall Street Journal and the Dow Jones Company, brought it over to the USA early in the 20th century.

The regular type of candlestick consists of a block which may be shaded, colored or blank, plus two vertical lines protruding from the top and bottom of the body, known as shadows or wicks.

Each candle represents one time period. Generally you can set this for various options, e.g. one minute, 15 minutes, one hour, one day.

The top of the upper wick is the high for the period. The bottom of the lower wick is the low.

The top and bottom of the candle body show the opening and closing prices (either way around). Traditionally, the candle would be hollow (i.e. white) if the price rose during the period, and filled (black or any color) if it fell. However, some charts now color all of the candles, so that an upward candle is green or blue and a downward candle is red. This sounds confusing but if you just use one charting service, you will soon get accustomed to the way that they show the candles.

Of course, sometimes the open, high, low and close are not all different prices. For example the price might go up and down during the period but then close at the same as the opening price. In this case there is no visible candle body, just a cross, with the upper and lower wicks crossed by a horizontal line at the open/close level. This is called a Doji pattern.

Alternatively, you may see candles that are all body and no wick. In this case, the price moved in one direction from open to close, without exceeding either the opening or the closing price. This is called a marubozu pattern.

The colors and thick bodies of the candlestick chart make it easy to read, cutting down on errors. This is crucial in the fast moving trading environment. Knowing how to read a candlestick chart is important for any trader.

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Which is best? It is a difficult question, and one that forex traders do not always agree on. Both can provide useful forex trading signals. It is true that discussion on the internet tends to center around systems based on technical analysis but that does not necessarily mean that these systems are more successful. They are probably easier for the home trader to access, and certainly easier for most people to understand without the need to know a lot about economics or international affairs.

Supporters of fundamental analysis will argue that it is the fundamental factors like interest rate changes, GDP, sales and employment figures, etc, that drive the currency markets and therefore the only reliable forex trading signals are based on these economic factors. Some even say that technical analysts are just studying the past, imagining patterns from out of chaos, and cannot possibly hope to predict any future price movements.

However, this does not explain the number of successful traders who base their forex trading signals and systems on trends identified with technical analysis tools. Certainly for the beginner, a good grounding in charts and indicators is vital.

So how can we base predictions upon a chart that only records the price movements of the recent past? It may help if to think of a currency price as if it had some of the properties of elastic. It can stretch out to certain limits, and then it will bounce back. It may not bounce back to exactly where it was before; it could stop short or go further, but it will not keep on moving in the same direction forever. Technical analysis tools can give us an idea of the strength of a trend so that we can predict how far the price will stretch and when it might turn back.

At the same time, it is certainly true that any economic report or announcement will have an effect on the market. Usually there is a lot of volatility around the time of any forex news. To some extent this is predictable, since most economic reports are released at pre arranged times. This means that even traders who are fully committed to technical analysis for their forex trading signals need to be aware of the forex news calendar, just so that they can stay out of the market when a news release is due.

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Forex Trading Platforms For Brokers

Brokers need reliable software that will interface with their clients and the market. The ideal solution in most companies’ eyes is a custom built platform, but this does not necessarily have to be written from scratch. There are several packages these days that are very adaptable but where the basics are done for you. This can save a lot of programming time and, therefore, money.

Probably the first thing to consider when designing broker trading platforms is ease of use. Traders want something that is user friendly and intuitive. Most people hate having to read a manual; they prefer to learn by trial and error. This means you have to allow for clients to explore and try things out without having the system crash on them because they did not do everything in just the right way.

It is also important that the package is flexible, if you did not have it custom built. Your company’s software must have a different look and feel to anybody else’s if you want to brand yourselves as a professional concern.

Forex Trading Platforms For Traders

As a trader, you have a very wide choice of brokers and their trading platform will be one of the important factors in making a decision. It is important that it is easy to use and provides clear information in a readily accessible way.

If you are relying on the broker trading platform for your technical analysis rather than subscribing to a third party charting service, it is important to check out the charts and indicators very thoroughly. You can usually do this best by opening a demo account. Be sure that the platform provides all of the indicators that you might need, not only for your current forex trading system but for any others that you might be likely to develop or use in the future. The relationship with a broker is an important one and may continue for many years, so it is best to get it right from the start.

Many traders these days use automated forex systems or robots to trade for them on autopilot. Some are commercially available and others are custom built for an individual trader’s forex system. Many of these robots (called expert advisors) are built on the Metatrader 4 platform. They then need to communicate with a broker’s API or interface. Some broker platforms are compatible and some are not, so again, if you are planning to use any kind of automation either now or in the future, the question of having compatible forex trading platforms will be important.

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What You Get

So what is Forex Rebellion? Is it another robot?

The answer is no – and yet, it does have an automated component.

This is a manual trading system that identifies trades with a high probability of success. But you also get a piece of software called a ‘trading assistant’ which will alert you when conditions are favorable for a trade according to the system. You then decide whether to go ahead and trade.

This means you are in complete control of your trades, but at the same time, you do not have to waste your life scanning the markets 24 hours a day. It’s the best of both worlds. It also means that you can cover more than one currency pair.

As well as the trading assistant, you get over 40 videos showing how the system works. This includes footage of Russ trading the system live on the real market. It also includes different kinds of situations that may arise in the market and how to deal with them.

You also get special chart indicators that have been developed specifically for the Forex Rebellion system. You will not find these indicators anywhere else but they come free with this system. Other systems leave you to tweak standard indicators as well as you can – Forex Rebellion serves them up to you on a plate.

Plus of course, you get a manual. This is great for referring back to, after you watched the videos. Or if you are the kind of person who prefers to learn from the written word, you will find the system very well explained in the manual. (But it is best to watch the videos at least once, especially the bonus videos. There’s information and strategies there that are not in the manual.)

The System

This is a short term trading system (day trading) which will suit anybody whose time on the computer is limited. It can be used in any time zone and on any currency pair. Since forex is a 24 hour market, people with a regular job can use this in the evenings or early mornings, while a stay at home parent could trade while the kids are at school. It’s very flexible.

Another advantage of this kind of flexibility is that the market will not be saturated with traders using the same system at the same time. Forex Rebellion traders will be dispersed through different time zones and different currency pairs.

However, when you are starting out with the system it is best to stick with one currency pair. EUR/USD will be easiest to begin with, because of the high volume of trades. You also have a choice of time frames and we recommend starting with one hour.

How To Use The Videos

40 videos is a lot! And as for the claim that you can learn this system in 25 minutes – well, you would be missing a lot if you only spent 25 minutes on this. But it is a simple system that is quick to learn.

While some people will happily watch the whole video series right through from start to finish, for beginners that could be confusing. So instead, a great way to use this type of video training is to sign up for a broker demo account and actually follow along with what Russ Horn is doing. Using a demo account means that you do not have to risk any money.

At the same time, take brief notes of what is included in each video. This makes it way easier to find what you want if you want to come back and watch a strategy again.

User Feedback

People are raving about Forex Rebellion! You will see plenty of testimonials from users on the site, but the place to look for genuine impartial feedback is the forex forums. Comments there are extremely positive, with plenty of 5 star reviews.

We didn’t really find any negatives except people recommending that you start small – start in demo to find your feet, pay attention to the training on risk management and stop losses, and don’t start right out with 10 different currency pairs all at once. It’s just common sense.

Some users do go live right away but this would only be appropriate for experienced traders who can see that the system is going to work from the videos. Beginners need to get accustomed to the mechanics of trading and this is best done in a demo account where a mistake will not cost you anything.

Guarantee

You have a guaranteed refund here if you are not happy with this system. You have up to 60 days to test it out.

In order to make this a truly risk free 60 days, it is best to use a demo account. For newbies who do not already have a broker, there is a special link to a recommended broker in the download area. With this service (and most others) you can trade in demo mode at first until you are completely confident in the system and your trading abilities.

Summary

There is a PPS that Russ Horn has put on the site: “Fate brought you here and fate can take you to a whole new level in the Forex Trading niche. I’ve done all I can to help you find true success. The rest is up to you.”

We could say the same about this Forex Rebellion review. Destiny … or something … has brought you here and you can be thankful, because you have actually come across a real money making forex system among all of the dubious forex strategies out there. This is the one folks – get it or get out, because if you can’t make money with this, you shouldn’t be trading.

If you want to learn more about the Forex Rebellion System then you can go to the information page by clicking here

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In particular, the ratios between the numbers are the same ratios that are often found in the natural world as well as in other mathematical situations including stock and currency trading charts. Why should it be that the ratio between the length and width of each leaf of on a tree can be the same as the ratio between a price movement and its retracement? Nobody knows, but the why does not matter for practical purposes. We can still build Fibonacci forex trading systems around this phenomenon.
During a currency trading trend, there are always retracements when the price movement reverses for a time before continuing in the overall trend. It can seem like a ‘two steps forward, one step back’ kind of thing. In fact, the ratio between the movement and its retracement often reflects the ratios in the Fibonacci sequence.
The most important numbers here are 0.236, 0.382, 0.5 and 0.618. These can be used to predict the strength of the retracement which is often reflected in support and resistance lines. If you find this hard to believe, try it out with your own charts. You will be amazed how often one of these numbers comes into the picture.

Fibonacci ratios can also be used to produce extension lines which can predict how far a trend will go before a true reversal. This can enable a trader to take the maximum profit from a trend. So Fibonacci forex systems can be based around following the trend, as well as retracements.
The math can be complicated but in most cases you do not need to understand the math in order to follow a Fibonacci forex trading strategy. The systems are usually not complicated. In fact, they can be very simple. Based on straightforward currency trading principles such as support and resistance, these systems can even seem too simple. But do not be fooled! Fibonacci forex systems can be an extremely powerful tool in the resources of any currency trader.

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If you want to learn about basic forex trading then click here

Like all speculative trading this is a risky type of investment but it can also be very profitable. Professional traders can make a lot of money in just a few hours per day. However, you do not have to be a professional to get involved.

Currency trading is a worldwide market without a fixed trading floor. This means that it goes on in all time zones and trading takes place 24 hours a day during the business week. This has some advantages for anyone wanting to get involved from home, because it means that you can trade at any time of day or night that is convenient for you.

If you want to learn about basic forex trading then click here

As the name ‘foreign exchange’ suggests, FX trading involves exchanging one currency for another. For this reason, traders talk in terms of currency pairs. An example of a currency pair would be the euro and US dollar, which is written EUR/USD. You would buy this pair (buy euros) if you thought that the euro was likely to rise in price against the dollar. This is called ‘going long’. You would sell this pair (sell euros, buy dollars) if you thought that the euro was likely to fall against the dollar. This is called ‘going short’.

EUR/USD is the most heavily traded pair, but currency trading is a huge market with trillions of dollars worth of deals made every day. Most of this trading involves the major currencies US dollar, euro, Japanese yen, British pound, Swiss franc, or the Canadian, Australian or New Zealand dollars. Any combination of one of these currencies with the US dollar is known as a major pair. A combination of two currencies not including the US dollar is known as a cross pair.

The market is driven by economic forces such as interest rates or the GDP which mark the strength of a nation’s economy. A strong economy usually means a strong currency. However, predictions of price changes are usually made on the basis of charts on which traders can identify trends in price movements. These charts are normally provided free by forex brokers.

Using the internet, traders can control their own account and make trades through the software on their broker’s website. There is no need for phone calls to a broker these days. Of course, it is not always possible to predict price movements correctly and there is a risk that money will be lost. To minimize the effect of this, traders place stop orders so that if a trade goes against you, the trade will be closed before the loss is too great.

If you want to learn about basic forex trading then click here

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We often see news reports about currencies rising or falling in value. Not surprisingly, there is a global foreign exchange market where the dollar and other currencies are constantly being traded. Some of this trading is on behalf of people or businesses who need to change money, either for travel or for reasons connected with importing and exporting goods.

However, where there is a market there is also the possibility of speculative trading for profit, and that is what online foreign exchange traders do.

The forex market used to be the exclusive province of international banks and other large financial powers, but since the use of the internet spread into all of our homes the possibility of trading in currencies has reached the small time private investor.

Learn more about online foreign exchange trading by clicking here

Slowly brokers altered their practices to include people who did not have a lot of money to invest. At the same time, they developed software that enabled traders to manage their own accounts over the internet. They also began offering demo accounts so that people could test drive their systems. This also meant that anybody new to forex trading could try it out without risking any real money.

The combination of all of these factors has meant that online foreign exchange trading attracts more and more people every day. However, it is important to spend some time understanding the market and figuring out a good trading system. As we have said, this can be done in demo mode. Forex trading is a risky business and it is important to be confident of your abilities before you start trading with real money.

There are plenty of opportunities to pick up training in forex trading. Everything from books through instantly downloadable ebooks, DVDs and online video training packages is available to help the new forex trader. There are online forex forums where you can pick up tips and make contacts. There are even high level seminars and training courses in many cities.

Forex is a 24 hour market during the business week. Nobody is limited to trading during the business hours of their own country, because it goes on in all time zones, all over the world. This makes online foreign exchange trading very convenient for many people who might not be able to get to the computer during the day time.

Learn more about online foreign exchange trading by clicking here

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