With a daily turnover of more than 5 trillion USD, the FX market is the largest and most liquid financial market in the world, thus offering to investors prepared to take a risk the opportunity to earn substantial profits.
The number of Forex Brokers targeting retail clients is continuously increasing, making the selection of the right broker a difficult decision. Furthermore, the different types of FX brokers come along with advantages as well as disadvantages, depending on the intended trading strategies. Against this background, a number of selection criteria for choosing a suitable Forex Broker will be discussed in this section, and several brokers will be introduced.
Expert Advisors also known as Robots are automated trading systems developed for the trading platform MetaTrader 4. They not only allow the automatically and mostly unattended execution of complex trading strategies, but also to keep trading 24 hours a day, five days a week. MetaTrader 4 provides the opportunity to develop customised Expert Advisors to follow one's own trading strategy, additionally, a wide range of commercial EAs covering a variety of trading strategies and risk profiles are available on the market.
Some commercial Expert Advisors are available at a discount, the respective discount coupons are presented next to description of the EAs. An overview of current discounts and special offers can also be found on the forum.
Information regarding Expert Advisors that are no longer actively monitored due to a weak performance or because the vendor cancelled support or just disappeared, can be found in the Expert Advisors Archive.
Besides Expert Advisors also Signal Services provide an opportunity to follow complex trading strategies of other traders. In this case the signal provider publishes trading signals to their clients which can be either manually traded or - using specialised trade copying software - automatically replicated on clients' accounts.
Managed Accounts do not require any manual intervention and are more like asset management. To allow the service provider to execute the trading strategy on the client's account, the client has to provide a limited power of attorney to the broker. In turn, the broker usually charges a monthly performance fee by order and for account of the service provider.
Special conditions are available for many Forex Brokers if particular links are used to open an account or by referring to a so called Introducing Broker. These special conditions can come in the form of free access to exclusive market research or a free VPS, but are usually provided as Cashbacks and Rebates where clients can benefit from a discounted trading commission or receive cashbacks on the paid commission at the end of the month.
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