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Why I am switching to cTrader
Replied 1 day ago -
cTrader users in the community can also share their experiences with the platform, thank you.
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When is The Best Time To Trade Nasdaq (NAS100) in Nigeria?
Replied 2 days ago -
From 4 PM GMT after the London session has closed, the daily London FIX has been set and the New York session is in full throttle.
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High minimum withdrawal with brokers: how to bypass it
Replied 2 days ago -
The brokers have found out this loop hole so they now check where you are resident. For instance if the broker sees you are resident in Nigeria and you open a ZAR account, they will increase the minimum deposit. A good example is the broker Trade Nation that has been discussed here, their minimum deposit for South African residents is 50 ZAR but if a Nigerian opens a ZAR account they immediately increase the minimum deposit to 500 ZAR
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MT4 vs MT5 who is the winner?
Replied 2 days ago -
MT5 is better because it is an updated version of MT4 and it corrects all the short comings of MT4
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should i use my discretion when trading?
Replied 2 days ago -
Using discretion is taking risk, during my training my trainer strongly advised that i use strategies and stay by it.
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What do you wish you knew before you started forex trading?
Replied 2 days ago -
I wish i actually knew forex trading wasn’t a get rich quick scheme like I experienced in cryptocurrency. I started trading cryptocurrency and made a lot of money in a year, I was trading memes though. Then I graduated into trading forex, i thought i would be withdrawing consistently like I did in trading memes but I was wrong.
For anyone reading, forex trading isn’t a get rich quick scheme, it will take you time to be profitable. The time it will take is totally dependent on the individual.
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How To Trade Forex in Australia
1. Open an account with an ASIC regulated broker
This is fairly easy to do, on this website we have a section where we reviewed several ASIC regulated forex brokers, so simply register with any of them.
2. Experiment with a demo account
An all-crucial step, demo accounts contain fake cash that you can use to try out trading without risking your hard-earned money.
Practice for a few months till you get a hang of it, then proceed to the next step.
3. Trade with a live account
the demo account should have taught you how to place trades & mamage risk, so you can now trade with real money.
Remember to trade only 0.01 lot sizes and set a stop loss on every trade.