It is difficult to trade forex without sharing profits and losses. A registered broker provides traders with several trading benefits, thereby increasing their returns. There are various brokers on the market, so choose one with extreme caution.
Trading commodities lacks the leverage that trading currencies does. Currency investment can be used as a technique for diversification.
You may use hedges to guard against political and event-based risks with your FX investments.
It is good to test a new broker using their demo account because there is no real risk involved in demo trading and you can also get a glimpse of the broker's trading platform and their spreads.
EA can be profitable, but as a beginner, I suggest using manual trading so that you can learn more about forex trading and build new skills or strategies.
I trade with the moving average strategy since it is useful in forecasting long-term trends, it also helps in identifying areas of support and resistance.
I agree with Sherverty as well, forex is a good platform to start of trading and you can start small and earn higher profits in it.
It takes time to become an expert in forex trading, but if you grow forex knowledge and experience it becomes much easier to make profits in it.
Yes, lower spreads are perfect when scalping, which is why I trade with FP Markets because their spreads began at 0.0 pips and mostly stable even during high market movements.
So far, the only brokers I have traded with lower spreads are ICM and FP Markets. I recommend FP Markets though because its spreads are not only lower but also stable at high volatile market situations.
In my perspective I would say EURUSD is the safest pair to trade especially during London and new York time frames and it is one of the most highly volatile pair.
Just adding to what Sheldon.D has mentioned. FP Markets is reliable because they have been present for over 15 years, and due to their regulation with cysec and ASIC, traders are immune to leverage changes.
Regarding withdrawals, it has been smooth without any issues so far for the past ten months.
I trade from Austria using an ASIC broker FP Markets and to me, I find EURUSD to be the fastest because I can see that it is highly volatile and CHFJPY the slowest in the forex markets.
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