Welcome to Plain Forex Trading!” David Hughe, publisher and founder of “Plain Forex Trading” the leading site for traders and investors to gather trading information and learn how to trade forex profitably. In this Forex trading review I will take a quick look at what is available on the site and see if it can help you with your forex trading. If you are new to forex trading or have been around for a while and want to take your trading to the next level, you might be interested in this information as it will point you in the right direction.
The first thing that you need to know about the site is that it offers several types of tools and features for both novices and advanced traders. One of the most popular features is its “competitive spreads” which allows traders the ability to set their limits on currency pairs using certain spreads. This is very helpful when you are just getting started with trading. Just a note, though, these competitive spreads are in fluctuation and can change without notice so be sure to keep your capital controlled.
Another great tool available on the site is its demo account which allows traders and investors to use virtual money in order to practice forex trading without actually investing any real money. The way that this works is that you can use up to four currency pairs in your demo account which allows you to test out your strategies without risk. This is a very useful feature as it allows you to get a feel for the forex market without actually investing any of your own capital. So even if you think you don’t have the risk and opportunity to lose much, it’s a great way to simply find out if you enjoy trading currency pairs by using virtual money.
Many people are mislead into thinking that demo accounts are solely for newbie traders however as technology evolves so do the types of currency pairs that can be traded. For example there are now forex trading platforms available that are built specifically for CFD and OTC markets. This gives traders the ability to trade these markets from the comfort of their own home. No longer do traders have to go to major financial centers like the NYSE and experience the stress of dealing with actual people. And no longer do traders need to rely on a single broker as they can trade multiple currency pairs from anywhere they have internet access.
This is all well and good, but what is an actual forex trading review of these products? This is the best place to find out the information you need to know in order to be successful with forex trading. Most traders are always looking for the newest, best and newest technology that is available. And while technology has changed tremendously since the forex markets first became open to the public, there are still plenty of opportunities and tricks of the trade that new traders can learn which will greatly improve their chances at making money.
One such secret of the trade is competitive spreads. Competitive spreads refers to the difference between the opening and closing prices of the currency pair that you’re trading. Most traders don’t pay enough attention to this simple little thing, and when they finally realize how much difference there can be in the amount of money that they can make it’s usually too late to save themselves.