Newbie To Forex

mysteryfx

Recruit
Messages
1
Hi all,

Greetings.
I am very new to Forex and i am still gaining a lot of knowledge that it has become confusing now. Can someone guide me to a good broker in Africa so that i can start on this awesome industry.
 

GOR FX

Sergeant
Messages
183
Mysteryfx:
Why do you need a broker recommendation at this time?
Learn the basics of trading first. browse through the FPA school for a couple of weeks or months then and only then should you start focusing on brokers
 

robertrfx

Sergeant
Messages
424
Mysteryfx:
Why do you need a broker recommendation at this time?
Learn the basics of trading first. browse through the FPA school for a couple of weeks or months then and only then should you start focusing on brokers
Agree with GOR here. First things first
 

vic84

Private
Messages
28
why dont you open demo accounts with multiple brokers and check their dealings with you if it is good with you then go with that broker....
 

Pharaoh

Colonel
Messages
19,729
why dont you open demo accounts with multiple brokers and check their dealings with you if it is good with you then go with that broker....
First check the broker's reputation and regulation. There are far too many cases of demos turning out to be vastly different from live accounts.
 

Pharaoh

Colonel
Messages
19,729
Psychology Or Chart View Different ?
Psychology will be different with every broker, but I'm talking execution and even pricing in some cases. If you want to remove psychology, run an EA on live and demo. Sure, a live account should have slightly higher slippage and requotes (much higher around news time), but there are brokers out there which will consistently give much worse fills on a live account.
 

Alonedevils

Master Sergeant
Messages
277
Psychology will be different with every broker, but I'm talking execution and even pricing in some cases. If you want to remove psychology, run an EA on live and demo. Sure, a live account should have slightly higher slippage and requotes (much higher around news time), but there are brokers out there which will consistently give much worse fills on a live account.
Agree Pharaoh ..
But I Prefer Run My Live Account Manual Than For Use EA .. :p
 

Pharaoh

Colonel
Messages
19,729
That's fine. It just leaves you vulnerable to claims that any perceived difference in demo vs live performance in execution is purely due to psychological reasons.
 
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