Welcome to FX Universal, your comprehensive guide to forex trading in 2020!
You are at the right place if you want to start trading with currencies or just want to get informed about new trends in the industry. An awful lot have changed in the past few years and in our opinion the most changes are welcome.
Conditions are better than ever for traders with lower costs, better platforms, more products, and whole new features that were unknown even a few short years ago.
But with new features comes complexity; having experts helping you in finding your way in this business is a chance that you should grab.
What does FX Universal provide?
Well, first of all, our philosophy.
We treat forex trading as a business, a business that can change your life if you put the needed effort into it and follow the advice of experienced players. We will help you take the first steps and guide you through the whole process of becoming a forex trader.
We have seen it all, believe us. Scams, brokers that came and went, strategies that proved to be one-day wonders you name it… We look at brokers through a different eye than a novice trader and we know what to look for when choosing a company that you will trust with your money.
We can also help you in learning the basics and start analyzing prices and fundamentals concerning currencies. Choosing your resources and filtering the vast amount of available information is not an easy feat. We can save you a lot of time and money by showing you the right direction—and the bad ones, of course.
Before we go through the steps that you should follow let’s see how the industry stands and what the new trends are.
What has changed?
We have talked about changes, but what are they exactly?
The internet boom made forex trading mainstream but at the beginning, it was kind of a “wild west” environment with lots of questionable companies and some outright scams that cast a shadow of doubt over the industry. Now, forex is at another level; it has matured and you have a strong online community that can help you in determining whom to trust and whom should you be aware of.
A boom in tradable products
It is not uncommon nowadays that you can trade with hundreds of pairs including exotic currencies that some of you have probably never heard of. This is great news for all the new traders from around the world as they can trade with their own currencies or just manage their currency risk.
Also, diversification is easy now, as you can choose from many different asset classes through CFDs (contracts for differences) that have spread very quickly and now are a common feature by most brokers.
Social trading, managed accounts, and automated trading and expert advisors, are the buzz words of forex currently. These features might be good for a beginner (like social trading) or help experienced traders earn more (managed accounts) but, all in all, make forex much more attractive for everyone.
The smart device revolution
Trading on mobile devices is here, and it is here to stay. Smartphones and tablets change the way we live and also change the way we trade—for better or worse. As always a new technology is both an opportunity and a danger. Be sure to read our take on the topic to learn more!
Funding you account is also different than it was before. The advent of cheap, secure, and quick online solutions have changed the way that most traders transfer their money. Using these new services might save you time and money, and keep your personal data safe.
How to Start?
Before you start “live” trading you should first find a broker. Of, course everyone wants to find the “Best Broker”. As you will see there is no such thing, but what we have is even better than that—a pre-selected list of great providers. We know that we don’t know everything, but we are pretty sure that we know these firms and if you choose from them you won’t get scammed and you will trade with one of the best brokers out there.
Before you choose you should know the basic factors that determine which company you should choose:
Where do you come from?
This narrows your choices unfortunately as some countries have strict rules that limit forex trading. If you want to know more check out our article about the topic.
How much capital do you have?
Not all brokers are friendly with beginners and those who want to start trading with a small amount of capital. Also, if you are more experienced and have above average savings you should choose a provider that serves all your needs to optimize your results.
Now, you might go right to our broker reviews, but we think it is wiser to read through our articles before you go on and decide on your broker.
Our list of preferred brokers:
- Plus500 (check out our review)
- eToro (check out our review)
- AvaTrade (check out our review)
- IronFx (check out our review)
- Forex Broker Inc (check out our review)
- easyMarkets (check out our review)
Let’s get started together!
As you can see, there is a lot to cover, but don’t worry we will be there to help you with every step. Also, we urge you to read the comments of your fellow traders and share your own opinion and experience with us.
With the help of our community, we are sure that you will be on the right track to becoming a successful trader in 2020!