What is Forex?
The system of global trading in foreign currency is known as the Foreign Exchange Market, Forex, FX, or just 4X. This cash market is made by large banks. Investopedia Says: There is no central marketplace for currency exchange, rather, trade is conducted over-the-counter. The forex market is open 24 hours a day, five days a week, with currencies being traded worldwide among the major financial centers of London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris and Sydney - spanning most time zones.
Why trade Forex?
Some of the advantages of Forex are:
- High Liquidity - over $1.5 trillion per day it is the most liquid market in the world. You don't have to worry about position sizes or too many people jumping into the trades at the same levels.
- High Leverage - Forex traders can leverage their capital more efficiently with as high as 400-to-1 leverage. We usually suggest to start with low leverage levels until you are confident in the system.
- No shorting restrictions - You can profit in up and down markets.
What is ForexSignalsProvider.com?
Our system is a 100% mechanical trading algorithm. Market volatility and price action are the two factors which the system combines. It offers trading alerts for two different groups of currency pairs. In the morning alerts are for EUR/USD and GBP/USD, which we consider the West Economic region pairs. In the night alerts are for GBP/jpy and USD/JPY which we consider the Asian Economic region pairs.
ForexSignalsProvider.com takes long and short positions on day trading mode, achieving low market exposure.
Profit target and stop loss are provided for managing trades.
Most entry and exits are taken using limit orders, what lows down trading costs.
Brokerage Forex accounts
You have 3 options:
1. Mini account: Choose a mini account if you are new to the forex market. The leverage is often higher than standard account and you trade mini contracts. You can open this accounts with as little as $250.
2. Standard accounts : Standard accounts are for experienced investors. The deposit is higher than Mini accounts but the leverage is lower. You trade the full contracts in this account. You can open this accounts with $2500 or more.
3. Demo account: the easiest way to try your hand at trading forex is to open a simulated account. When you open a simulated /demo forex trading account, you get $25,000 or $100,000 of virtual money to trade with. The platform receives live quotes and your simulated trades use the same bid/ask spreads that real traders do.
Brokerage suggested
We are not affiliated with any broker, nor receive commissions for referring people or executing trades. We suggest to open accounts at major brokers registered with the NFA. Beware of offshore brokers offering high leverage accounts with low minimums. Examples of major brokers include FXDD, Interbank FX, Oanda, etc.
Commissions, leverage and spreads
Brokers charge no commissions for forex trading. Brokers make their cut with the spreads, when you buy at the ask and sell at the bid. The spread is usually from 2 to 6 pips depending on the pair and broker. That's an important thing when deciding which broker to open the account with. The leverage can be as high as 200:1, meaning that a trader needs to put down only $0.5 of margin to control $100 of the currency. Remember leverage can be a double edge sword, so use it with caution.
Risk Capital
No matter how good a system looks, how good a system performs or how much money it makes. Only "Risk Capital" or "Risk Funds" should be used in trading. A person who does not have "Risk Capital" or "Risk Funds" (funds they can afford to lose) should not trade in the market.
System Objectivity
We use the same criteria and parameters to generate signals every day, there is no subjective criteria involved in the process.
Is the system mechanical?
Yes, it is 100% mechanical; you can send your orders in advance with their Stop Loss, Profit Target, no need to evaluate or take subjective decisions of where/when to exit trades. As we mention is a complete system, with full guidance from entry to exit.
When are signals sent and how often?
ForexSignalsProvider.com signals are placed on the web site twice a day around 8:00 am GMT and around 2:00 am GMT during business week. We only issue new signals at these time, no further intraday instructions are necessary since we indicate entry, exit and stop loss in advance.
The system issues signals for 4 major pairs:
| Pair |
Definition |
Known as |
EUR/USD |
Euro / US Dollar |
"Euro" |
GBP/USD |
British Pound / US Dollar |
"Cable" |
USD/JPY |
US Dollar / Japanese Yen |
|
GBP/JPY |
British Pound / Japanese Yen |
|
Can I enter the orders at different time?
Yes, this is not scalping for 5 or 10 pips profit per trade. We look for more than 80 pips gain per trade in a 10 to 20 hours period. Many customers prefer to do their own timing and get better fills.
Time required to trade the system
You need 5 minutes per day in the morning and again in the night to check for new signals and send the orders. There is no need to monitor the intraday market.
How long it takes to get access to the signals?
You have instant access to the signals. After the credit card purchase is approved you will send us your username and password which will be activated in few hours.
Do I need to open an account or send money to you?
No, we provide the signals to trade but not the brokerage services to execute the trades
How do I cancel my subscription?
You can cancel your subscription at anytime by sending an email to info@ForexSignalsProvider.com