Regarding you question on reviewing brokers:

You may feel overwhelmed by the number of brokers who offer their services online. Deciding on a broker requires a little bit of research on your part, but the time spent will give you insight into the services that are available and fees charged by various brokers.

The best advertising is word-of-mouth advertising, and this is just as valid in FOREX trading as it is for any other type of business. Talk to friends and associates to see who they are dealing with and find if they have any complaints or difficulties in dealing with a particular broker.

You could try selecting a few online brokers and contact their Internet help desks to see how quickly they respond to enquiries and whether or not they answer questions to your satisfaction. Keep in mind, however, that pre-sales service may be better than after sales service. This can be true for any online business, not just FOREX brokers.

Customer satisfaction and safety are just part of the story. You want to find a broker who executes orders quickly and with minimum slippage. All online brokers should offer automatic execution and have clear policies regarding slippage. They should be able to tell you how much slippage can be expected in both normal and fast-moving markets.

Next you want to know the fees involved. What is the spread? Is spread fixed or variable according to the type of account? Are mini accounts subject to wider spreads? Are there any other charges? Smaller spreads mean more profit for the trader, but there may be a trade-off between spread and service. Look at the overall picture before deciding to go with a particular broker.

My advice is to just get a proven system that’s working for an experienced forex trader so that you can *copy* their techniques AND learn how it all works in the process.

I did this with a system called “Forex Autopilot” and now I’m earning a decent living with it. I found it at

– One word of warning. Don’t believe every site trying to sell you forex systems. There are MANY scams out there which you will get burnt by easily if you’re not careful.

That fxsystemscompared site I gaveyou a link for takes reviews and customer comments from around the web and gives you what I would call an “unbiased view” on each trading system out there.

Just have a look at this unbiased review.

Forex Broker Reviews and Comparisons:

We learn by going where we have to go.

Read as much as you can, and open a demo trading account. It’s free and only takes a few minutes. With that demo account, you then buy and sell currencies and see if you can make money with what you have learned so far.

This way, you will find out what you need to know in order to make money in this market.

I will also recommend that you join an online trader’s forum. Such forums are a great resource where you will find what works and what doesn’t. Try any or all of these three:

Good luck!
Managed Accounts in Forex Trading

The bottom line is that learning how to trade Forex is not something that should be undertaken lightly. Approach this as a project similar to getting a college education. Becoming a successful forex trader is not something that will occur overnight.

Do your research and figure out what style of trading suits YOU and your situation best. Determine how much you have to trade with, how much you can afford to lose, how much time you have to devote to trading, etc. Then, learn a strategy or two that will suit your personal situation. Good luck!

Scott Cole

Reading books and other educational materials is one good way to learn forex, however, the best way I know is through a personal tutorial. You may check your options in this site. For a minimum deposit of $100.00, which also forms part of your initial capital, they will provide you a personal Account Service Manager (ASM) to be your personal consultant who will serve as your mentor and trading partner as well and with whom you can talk live via phone, email or chat. You can then take this opportunity to ask everything you want to know about forex. Being an expert forex trader himself, your ASM will be your best resource person to teach you how the real trade is done and can give you the tips and tricks you need to know to achieve a profitable forex dealing in the future. He will even trade along with you to make sure that you get familiar with their trading system.

The site also offers the following features: background information for the Forex market, Guided-Tour, seminars, one-on-one training, CHAT, telephone support, as well as other assistance tools, including technical support; enables users to start trading immediately and with no software required to download you may login to your account and trade anytime, from anywhere; allows you to fund your account with your Credit Card, so you can start trading immediately, regardless of banking work days or hours; .). uses the latest highly sophisticated and advanced technologies in order to offer you up-to-the-second quotes; And If you are a frequent trader dealing in larger volumes, they offer tailor-made account to suit your exact needs (spreads, leverage ratio, mobile-phone alerts, etc….

Register and download a Free Forex Ebook for your further reading and understanding of the trade.

You should be overwhelmed by the material out there!

Make a point with yourself not to trade FX for a year. Take that year to learn the fundemental movements of the currency market & learn technical analysis. You may want to trade stocks using technical analysis in the stock market first (for a year or two), to get a “feel”.

96% of all new FX traders lose their accounts in the first 3-6 months. With all the hype out there….. you can be convinced that trading FX is not that hard….. worse….. there are “services’ that will suggest incredible returns………. don’t believe it for a minute.

The only people that make money in FX have worked years & very hard to learn their skill. Everyone else is merly gambling.

So…… if you work very hard, understand that money management is 60% of your potential success & take this stuff very seriously…. you’ll do fine!

Just go to informedtrades.com . Totally the best educational site out there. David waring answers all questions personally. Have fun!

Here’s a website I found that can help.