Get to know about the features of best trading platforms before selecting

Browse through the internet and find out a wide number of trading platforms in the market. If you are really expecting to do the best in the financial market then make sure you find out the ideal terminal that stands amongst the best trading platforms. All platforms might not be as effective as you require.  Choose the one that not only best suits your financial requirements but has several user-friendly features to deal with. If you are beginner in this field and is feeling shaky before choosing the right platform then you can do two things. Either consult the experienced forex traders or read through the different features to determine an ideal forex platform.

It is seen that with time, more and more people are getting engaged in this field of money-making.  Always remember that in order to be successful in this business, all you require to do is choose the best online forex platform and accordingly move ahead. Study about the terminals in details to find out the best amongst the lot. To be precise, especially for the beginners, forex platforms are an essential tool towards making the maximum from the financial market. People say that it is like a sharp weapon that should be used in place to fight the battle. Novice traders should be aware of the fact that without learning about the different features, they should never choose a platform to trade forex.  Random selection is always a wrong decision, if you want to get success in this field.

Here are certain important features that every trader should know before determining a forex trading platform. They are as follows:

Ø  No1: Make sure you select the most reliable trading platform

Whatever is your status in the trading position, make sure you choose a platform/terminal that is trustworthy and reliable. As a trader, it is your responsibility to find out whether the platform is functional and is it prone to any market condition or not? In order to know this, the user must be a good researcher as well. You can even refer experienced people, if you really want to perform well in the financial market.

Ø  No2: Pick an easy-to-use platform for your comfort

This is probably one of the most important factors that a trader must follow while selecting a trading station. It is true that in this field of trading, every trader desires to trade smoothly and comfortably.  In order to do this, you require a user-friendly trading terminal.

Ø  No3: Pick out a forex trader platform that offers secured trading environment

No matter what, every trader has a desire to work in a safe and secured trading environment. As important and confidential information is accessed through the account, it is very important to choose a platform that offers protected measures.

Start Your Trading on Forex Trading Platform at the Best Time

As forex is a 24-hour market, you can trade around the clock at any time you like. But this does not mean that every second is the best time for forex trading. Trading at the best time brings more possibility to profit, just like sowing in the right season for a better harvest. In order to see what time is best, firstly you have to know about the market sessions. The forex market can be broken up into four major trading sessions: the Sydney session, the Tokyo session, the London session, and the New York session. 

 
Tokyo session is sometimes referred to as the Asian session, since Tokyo is the financial capital of Asia. The main market participants during the Tokyo session are commercial companies and central banks. The liquidity in this session is not that high, as a result most pairs may stick within a range. This provides opportunities for short day trades or potential breakout trades later in the day. As the early time zone of a day in the world, moves during the Tokyo session can give reference for traders in latter sessions to organize and evaluate their strategies.
When Asian market participants are starting to close shop, European traders are just beginning their day. London session is also referred as European session. As London session crosses with the two other major trading sessions and London is the financial center in the world, the liquidity in this session is low and transaction cost is lower. It is normally the most volatile session. However, volatility tends to die down in the middle of the session, since traders often go off to eat lunch before waiting for the New York trading period to begin. Sometimes there will be reversal at the end of the session, as European traders may decide to lock in profits.

New York session has a high liquidity in the morning, as it overlaps with the European session. There is the chance of reversals in the second half of the session, as U.S. traders close their positions ahead of the weekend, in order to limit exposure to any weekend news.

Therefore, to choose the best time to trade on your forex trading platform, first of all, you need be clear about what market session to trade in. As for the specific time, it’s best to choose the overlapping time between two sessions, during which there are high liquidity and huge trading volume.

IKON Easter Promotion Rules

IKON Easter Promotion Rules are listed as below:

1. Each person can only register for one live account.

2. Only a maximum of 2 entries can be submitted into the promotion per person.

3. By registering for an account, you accept that all information must be true and accurate.

4. IKON Group reserves the right to withdraw any entrants if the participant breaches any of the rules above.

*Note: Those who open a live account during the duration of the promotion will be entitled to Double bonus. Terms and Conditions apply.

Things to Know before Opening Forex Account

If people are determined to trade forex, they need to open forex account first before trading for real. If traders look through the internet and it is not difficult to find out that traders are able to open forex account with a great number of forex brokers. But traders may wonder which forex broker they should choose to open forex account with and what should be noticed before opening forex account. Here are some tips on how to open forex account.

1. Open forex account with most reliable forex brokers

Opening forex account means that traders are willing to deposit money into the forex account. So it is important to open forex account with a reliable forex broker. How to choose a reliable forex broker? Traders may have different methods to find out reliable brokers to open forex account with; but there are several most commonly used way to distinguish reliable brokers: first, heavily regulated brokers tend to be most reliable brokers; second, comments on website, forums may help traders to find the most reliable brokers; last but not least, experienced traders’ suggestions are worth noting.

http://www.ikonfx.com/forexblog/things-to-know-before-opening-forex-account/

How to Face the Loss in Forex Trading?

You must be pretty much clear that on one step into forex business with a guarantee of a successful trade. Imagine that being able to enter the market and have a 100% assurance that you will come out a winner. The concept is called arbitrage trading. An arbitrage opportunity exists when there are discrepancies in the market between brokers. So this is pretty much sure to say that you need to learn how to take a loss in forex trading.

A Simple Introduction to Best Forex Trading Tool-ECN

What is ECN?

ECN, short for Electronic Communication Network, is a forex trading tool that connects major forex brokers and individual traders so that they can trade directly between themselves without having to go through a middleman.

How does ECN work?

To trade with the forex trading tool-ECN, forex trader must open an account with a reliable forex broker that provides direct access trading. Traders can place orders into the ECN via a custom computer terminal or network protocols. The ECN will then match contra-side orders (a sell-order and a buy-order with the same price and share amount) for execution. The ECN will post unmatched orders on the system for other traders to view.

What the advantages of Electronic Communication Network?

To trade with ECN, forex traders should open accounts with a reliable forex broker that provides direct access trading with ECN. Today I will take Ikon ECN for example in order to give you a rough idea of what advantages of the great forex trading tool-ECN possesses.

The following is the advantages of trading with Ikon ECN:

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Steps in Forex

Sept5: Your next Step is to decide which Forex Trading platform to use. For beginners, let me say that by Forex Trading, means foreign currency exchange trading. When I say a platform I mean how your computer screen looks when you will be trading - the current buy and sell prices of the various currency pairs, how the currency pair which you bought or sold is doing (is it gaining or losing), how to keep track of your funds, etc.
Sept6: Learn a system which gives you an indication of when to enter and when to exit trades. Following the markets price action is a popular method that professional traders have been using for over a hundred years before charts, candlesticks, indicators inception.

What Forex Traders Should Know about Forex NDF

Forex NDF (non-deliverable forward) is a cash-settled, short-term forward contract on a thinly traded or non-convertible foreign currency such as Taiwan Dollar (TWD), Korean Won (KRW), Chinese Yuan (CNY), Brazilian Real (BRL), and Argentinean Pesos (ARS); the profit or loss at the settlement date of forex NDF is calculated by taking the difference between the pre-agreed upon exchange rate and the spot rate at the time of settlement, for an agreed upon notional amount of funds.

Forex NDF is normally quoted and settled in US dollars and forex NDF is usually used by corporations seeking to hedge exposure to foreign currencies that are not traded internationally such as Taiwan Dollar (TWD), Korean Won (KRW), Chinese Yuan (CNY) etc. Forex NDF is also prevalent in some countries where forward FX trading has been banned by the government (usually as a way to prevent exchange rate volatility).

Then how does forex NDF work? Here is an example:

Company A imports coffee from a Brazilian supplier at a total price of BRL 3 million. Company A is invoiced and the payment is due in 120 days (t+120). The Brazilian supplier wishes to get payment in US dollars in an amount equivalent to BRL 3 million. Thus company A is exposed to exchange rate fluctuations because the payment date is in 120 days.

http://www.ikonfx.com/forexblog/what-forex-traders-should-know-about-forex-ndf/

Forex trading

Forex information are listed as bellow. Currency brokers make their profit through these differences of ‘bid & ask’ price and this is how they manage to provide their services to individual investors without charging them commission fees. If you are new to trading it makes sense to deal in the more popular currencies. There are two main reasons for this. Firstly you do not want to be left with a currency where there is little interest and you may have difficulty selling. Secondly the spread between the bid/ask prices is likely to be narrower, making it easier to make a profit.

Trading Gold with the Best Gold Trading Platforms

Gold trading has attracted more and more traders because the price of gold has been constantly increasing (although there are fluctuations in certain period, it does not stop the overall increasing trend) for the past two decades. Many savvy investors use gold as a “safe haven” for offsetting the impact of potential losses in other financial markets such as stock market and futures market.

I have written an article that introduces types of gold trading for people who want to try hands in gold trading; today I’d like to introduce some best gold trading platforms for traders.

Best Gold Trading Platforms No.3: IKON Turbo Meta

Turbo Meta is heavily invested MT4 trading software developed by IKON Group. It is simple, elegant and effective to use. The friendly interface allows traders and investors to navigate effectively around the platform. Gold traders are able to enjoy fast execution, 24 hours live trading, various orders etc.

Best Gold Trading Platforms No.4: IKON Prodigy

IKON Prodigy is a reliable and user friendly platform developed by IKON Group; The unique internal email system, the easy order placement, the real times financial news, and the user friendly interface can make gold trading be a real joy. By the way, IKON provides forex demo account for traders to practice gold trading, which is really beneficial to gold traders.

http://www.ikonfx.com/forexblog/trading-gold-with-the-best-gold-trading-platforms/

Starting in Forex Trading with Currency Pairs

To start trading on forex, one must first learn how to read forex quotes. Foreign exchange quotes are always listed in pairs (e.g. USD/JPY 109.2): the first listed currency is known as the base currency with a constant value of 1 unit; while the currency listed in the second is known as counter. In our given example, USD/JPY 109.2 means a dollar of United States Dollar is equal to 109.2 Japanese Yen. In other words, the quote shows the relative value of one currency compare to the other. It means the value USD had been increased when USD/JPY quote goes up

Tips Teaching You How to Avoid Forex Scams When Choosing a Forex Trading Broker

If you are an experienced forex trader, you are certain to know the importance of forex trading brokers. Good forex trading brokers are able to provide forex traders with reliable trading environment in which traders’ account information will never be leaked out; they are also able to provide traders with relatively trustable analysis, comprehensive services etc. But it is not that easy to find a reliable forex trading broker. I am sure you have heard of forex scam? So before choosing right forex trading brokers, traders need to learn how to avoid scams when choosing a forex trading broker.

1. Find regulated forex brokers

The first and foremost thing when choosing forex trading broker is to find highly regulated brokers. A highly regulated broker like IKON can ensure the security of traders’ funds and provide traders with safe trading environment; thus, choosing a regulated forex broker is an effective way to avoid forex scam.

5. Ask for free forex demo account service

Most reputable forex trading brokers provide free demo account service to forex traders, which are always reliable to use; but some forex frauds cannot provide free demo account to traders because their goal is cheating money out of forex traders but not to offer forex traders what they want. If a forex trader meets a so-called forex trading broker who urges traders to deposit money into an account without providing favorable service and demo account practice, then forex traders should take a second thought.

Here is the video

http://youtu.be/D4M9vwvmlTs

http://www.ikonfx.com/forexblog/tips-teaching-you-how-to-avoid-forex-scams-when-choosing-a-forex-trading-broker/

Things you should know in Forex

Forex trading system: Top traders have a Forex trading system. They have the discipline to follow it rigorously, because they know that only the trades that are signaled by their system have a greater rate of success.
Price behavior: They have incorporated price behavior into their trading systems. They know price action has the last word.
Money management: Avoiding the risk of ruin is a primary subject to the best traders. After all, you cannot succeed without funds in your trading account.
Trading psychology: They are aware of every psychological issue that affects the decisions made by traders. They have accepted the fact that every individual trade has two probable outcomes, not just the winning side.
These are, among others, the most important factors that influence the success rate of Forex traders.

10 Forex Tips Telling You How to Succeed in Forex Trading

Forex trading is popular among investors because it provides potential of making good money to forex traders. But not everybody can make good money in forex trading; forex traders need to know some helpful forex tips in order to get more possibility to succeed in forex trading. Today, I will list some forex tips for your reference.

Forex tip No.1: choose a reliable broker

The first and most important thing for forex traders who want to make money in forex trading is choosing a reliable forex broker. I have mentioned a couple of times that a reliable forex broker like IKON can provide forex traders with reliable and safe trading environment, real time prices and super services etc. Choosing a reputable forex broker is the most important thing in forex trading.

Forex tip No. 2: making a trading plan

Trading without a plan is like a ship sailing without direction. Thus, forex traders need to make a detailed forex trading plan before they trade for real. Of course, it is essential for forex traders to make research before they make forex trading plan.

Forex tip No. 3: know what you want from forex market

Some forex traders trade forex without knowing what they want from forex market, which is not good. Traders should have their own goals in forex trading. A trader trades without goals tends to have no motivations. So making goals for forex trading is important in forex trading.

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Forex Education

Let’s introduce some Forex information. Chinese premier Wen JIabao said here Sunday that China’s financial institutions have generally increased their strength, profitability and risk-resisting ability, and the financial system as a whole is sound and safe in face of the international financial crisis.

He said that the world economic situation has had dramatic changes this year, the United States’ sub-prime crisis has been deteriorating and is having an increasingly serious negative impact on the world’s financial market and the world economy as a whole.

http://laughforextrade.wordpress.com/2012/03/27/forex-education-4/

Forex Tips Telling You How to Manage Money in Forex Trading

There are phenomena that a certain proportion of forex traders are pretty good at forex trading at first, but they finally lose. There is an important reason: they failed to manage their money properly. Money management is an important factor if Forex traders want to succeed in trading. Without proper money management, traders tend to bear losses. Then here is the question: how to manage money in forex trading in order to get the odds in your favor? There are several tips for your reference.

Tip No.1: trading with affordable funds

Putting funds that traders cannot afford to lose at risk is never wise in forex trading. I have mentioned that traders should not regard forex trading as gambling, so do not risk funds that traders are not affordable. Before forex trading, it is better for forex traders to make a money investment plan first. In this plan, forex traders should list the total amount of money he is able to invest in forex market; how much they can invest in every trade; how much losses he can afford etc.

Tip No.2: learn to minimize losses as much as possible

What I meant is that forex traders should set stop losses in order to avoid unpredictable losses. In forex trading, in order to get profit, traders should first know how to control losses. Some successful forex traders always set stop losses first before every trade in order to minimize the potential losses.

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China’s Financial System “sound and safe”

Let’s introduce some forex information. Under multiple negative factors, both international and domestic, China has reacted actively and properly, made efforts to improve the predictability, pertinence and flexibility of macro-economic control policies, and timely solved outstanding problems in economic development.

As a result, the country’s economy has maintained its momentum of smooth and rapid development, wen said.

Generally speaking, China’s economic foundations have not changed and the economy is developing towards the preset macro control targets, said the Premier.

“we have full confidence to the world when a big country with a population of 1.3 billion is able to maintain a lasting, smooth and fast economic development.” He said.

Simple Steps to Get Started in Forex Online Trading for Forex Beginners

Forex online trading is quite popular among forex traders because it offers great flexibility for Forex traders when they want to participate in the market. For forex beginners who want to rush into this promising market, the first and foremost thing they need to do is getting started in forex online trading. Then is the question: how to get started in forex online trading? As a matter of fact, getting started in forex online trading is not that difficult. Forex beginners should follow several simple steps stated below:

Step No.1 in starting forex online trading: getting the help of a reliable forex broker

Why do I mention that forex traders should choose a reliable broker? If you ask experienced forex traders, they will tell you that a good forex broker is able to provide such things as reliable platforms, helpful tools and super services that can protect Forex traders from scam and provide great security of their fund.

Step No.2 in starting forex online trading: figuring out currency pairs forex traders want to trade

In order to find the most suitable currency pairs for forex online trading, forex beginners first should know what currency pairs Forex brokers can provide and which can hep them maximize their profits. There are two currencies involved in one currency pair, which includes one currency you are purchasing and the other you are selling. For example, if a forex trader is trading EUR for USD, then the currency pair is EUR/USD and USD is purchased by the trader and EUR is sold simultaneously. Moreover, there are some most traded currency pairs that are traded in forex market such as USD/CHF, USD/JPY. For forex beginners, it is better for them to trade the most traded currency pairs in forex online trading.

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Why Choose a Regulated Forex Broker?

When traders try to decide which Forex broker to choose from, they face many problems. What kinds of execution orders do the trading platforms offer? What trading spreads do the Forex brokers offer? However, the predominant question should be, is the Forex broker regulated or not?

The regulated Forex broker is a member of the regulated financial authority, which means that their corporate activities are checked and they comply with strict rules set out by the regulatory body. A regulated Forex broker needs to meet a minimum set of requirements, including maintaining appropriate financial assets, and adhering to strict working standards and procedures set out by the authority. Most importantly, the regulated Forex brokers are required to maintain transparency in their financial records. Failure to submit financial reports can result in fines or termination of membership.

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The Asian Development Bank

Let’s introduce some forex information. Although by definition the bank is a lender to governments and government entities, it also provides direct assistance to private enterprises and has also participated as a liquidity enhancer and best practice enabler in the private sectors of regional member countries. It is conceivable that once all of Asia-Pacific reaches a certain level of living standard, the bank will be wound down or reconfigured to operate as a commercial enterprise.

When traders try to decide which Forex broker to choose from, they face many problems. What kinds of execution orders do the trading platforms offer? What trading spreads do the Forex brokers offer? However, the predominant question should be, is the Forex broker regulated or not?

The regulated Forex broker is a member of the regulated financial authority, which means that their corporate activities are checked and they comply with strict rules set out by the regulatory body. A regulated Forex broker needs to meet a minimum set of requirements, including maintaining appropriate financial assets, and adhering to strict working standards and procedures set out by the authority. Most importantly, the regulated Forex brokers are required to maintain transparency in their financial records. Failure to submit financial reports can result in fines or termination of membership.

http://www.ikonfx.com/forexblog/why-choose-a-regulated-forex-broker/

Forex Education

Let’s introduce some forex knowledge. Member states with balance of payment problems, which countries earn and/or are able to borrow from other official lenders and what countries must spend to operate, including to cover the cost of importing basic goods and services. In return, countries are usually required to launch certain reforms. For example, nations with severe budget deficits, rampant inflation, strict price controls, or significantly over-valued or under-valued currencies run the risk of facing balance of payment crisis. Thus, the structural adjustment programs are at least ostensibly intended to ensure that the IMF is actually helping to prevent financial crisis rather than merely funding financial recklessness.

How Many Types of Forex Indicators Forex Traders Use

Forex Indicators, put simply, are used to tell traders how to follow the trend and when to take profits in forex market. Forex indicators try to pinpoint price data and market trend. Using an indicator together with various other market analysis simultaneously is a good way to get profits from forex market as much as possible and avoid unnecessary losses caused by the market volatility. Today, I will list 4 types of forex indicators for reference.

Forex indicator type No.3: overbought/oversold forex indicators

Now that forex traders have confirmed market trend, the next thing they need to decide is if they will trade as soon as they get the market trend or trade after a pullback appears. If they want to trade as quickly as possible, they can enter a trade once the uptrend or downtrend is confirmed; if they want to trade with lower risk, they can try to wait for a pullback. Thus, forex traders need overbought/oversold forex indicators such as 14-day RSI for help. This type of indicator calculates the number of uptrend and downtrend days and also calculates a value that ranges from 0 to 100. If the entire price moves upward, forex indicator will approach 100 and if the entire price moves downwards, forex indicator will approach 0.

Forex indicator type No.4: profit taking forex indicators

 forex traders need to decide whento exit trade because the best exit time brings potential of making biggest profits. Thus they need the help of profit taking forex indicators. The above mentioned 14-day RSI is also a profit taking forex indicator, I have mentioned that the indicator calculates a value that ranges from 0 to 100. A trader who holds a long position might consider taking some profit if the 14-day RSI rises to a high level of over 80; a trader who holds a short position might consider taking profit if the three-day RSI falls below 20. A profit taking forex indicator helps traders to decide the proper profit taking time in forex trading.

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The World Bank

More forex information we know, the better performance we would do. The former are made for the support of economic and social development projects, whereas the latter provide quick disbursing finance to support countries’ policy and institutional reforms.

The world bank not only provides financial support to its member states, but also analytical and advisory services to facilitate the implementation of the lasting economic and social improvements that are needed in many under-developed countries, as well as educating members with the knowledge necessary to resolve their development problems while promoting economic growth.

Forex Trading Platform Ranking Help You Choose the Best Forex Platform

Forex platforms are web based tools used to execute trades from traders and all forex traders know what it means to choose a top forex platform in their trading process; however, it is not that easy and they may easily get confused when facing so many choices. Today, I will list top forex trading platform ranking for forex traders.

Top forex trading platform ranking No. 2: IKON Elite

This top forex platform gives particular edge to serious traders and investors the opportunity to trade with major global exchanges, such as Chicago Mercantile Exchange (CME), Chicago Board of Trade (CBOE). This top forex platform possesses the following advantages:

1. All major order types

2. State-of-the-art futures link system

3. Instantaneous market depth

4. Order routing capabilities

5. Risk management tools

6. Decision support tools: IKON News

7. Dynamic position tracker

8. Back-office suite

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