It is important when choosing a forex broker, to decide upon your preferred trading strategy. What do I mean by this? I get forex related questions asked all the time and the top forex question has to be "What trading software / bot / auto trader will make me the most money?".
Curiously enough this question generally comes from would-be forex traders who have never traded before … novice traders!
This is trading suit, if you have the perception that you can just plug-in an expert advisor / ea into MT4 (Metatrader 4) or even MT5 (Metatrader 5) and overnight you will be a forex millionaire. My advice to these kind of questions is try manual forex trading first.
It's easy and you do not have to be a broker, a financial whiz kid or financially knowledgeable. Go and choose a forex broker and trade manually for a while, just watch the charts and when the currency pairs charts are at their lowest point, open a "buy" trade, when the chart raises up, your "buy" trade will create profit . Once the chart is at the top open a new forex trade as a "sell" and yes, you have guessed it, when the chart falls, you will receive profit on your forex trade.
Do not forget to close your trades when you have enough profit and my top tip is do not be greedy! It is better to trade multiple forex lots and make small amounts of profit, than hold out for a large profit trade which could turn the other way and wipe you out.
Also, if you have a position or trade that is in the minus…