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Best Forex Broker

PostDateIcon September 2nd, 2009

If you are interested to take part in forex trading online, one of the first things you need to do is to register with an online forex broker. However there are so many brokers out there, how do you know the best forex broker for you?

Here are some factors that are useful to know:

User Interface:
You need to be comfortable with the way the online trading system is presented and the ease in which you can execute trades, check out the most updated economic news, and use the charting sofware. The user interface should be idiot proof and you should not have to search high and low for that trade button. You should definitely be able to sign up for a free demo account so that you can familiarise yourself with the interface and determine if you’re comfortable with it.

Charting Facility:
A good online forex broker should have a charting feature and all the common indicators such as MACD, stochastics, etc for you to work on your technical analysis.

Minimum deposit:
This is necessary especially if you have very little initial trading funds. Some online forex brokers require just $1 to begin trading while others require substantially more.

Leverage:
Depending on your forex trading strategies, you may or may not require high leverage. Some online forex brokers can offer leverage as high as 1:500.

Support:
One of the most overlooked factors is support. A good online forex broker should have preferably multiple methods in which you can reach them displayed prominently on the contact us portion of their webpage, because you do not want to be left in the lurch when you need help.

Islamic accounts:
This is an important factor for Muslim traders as they need to register with a online foreign exchange broker that offers interest free accounts.

MT4 support:
If you plan to use an automated forex trading system like FAPTurbo, then an online forex broker that supports the MT4 platform is essential. Forex traders sometimes don’t know which strategy they’ll employ when they sign up for a broker and after sometime when they decide on using an automated forex trading system, they realise that their broker doesn’t support it. I recommend registering for a broker that supports the MT4 platform even if you don’t plan to use automated forex software.

One of the most highly recommended online forex broker is fxopen.com. You can read an FXOpen review here.

Finally, the best forex broker for your friends is not necessarily the best forex broker for you. Quite a bit depends on your forex trading strategies and requirements.

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Why I like Robominer
In the Forex marketplace, almost every week we see the release of some new trading system or Expert Advisor (an EA is an automated forex trading robot). Some of them work while most of them don't. However there is one EA that has been constantly making profits over the last year, generating over 86,908.00 pips in profit, and generated a 314% return in just 12 months, according to company figures.

This system that only a few seem to know about is RoboMiner. The RoboMiner EA is a long term investment system that pumps daily small profits into your account, it always closes trades with a profit. That's right, you will never have any trades close with a loss.

The RoboMiner EA uses a proven grid trading system that is so safe, it's as if your money is in you IRA account. This system generates a minimum 6-10 % return monthly, with compounding that's 100% return a year.

Let's do the maths here. If you invest $2,000 today, in 9 years from now that will turn into $1,000,000 minimum. Where else can you find such a safe investment that will give you this kind of return?

Best of all you can download a free demo of this EA, test it for as long as you want and see for yourself how it performs.

So go ahead and try the RoboMiner EA today. Click here to download a FREE copy of RoboMiner. You will never have any trades close with a loss.
What Are The Best Forex Robots?
Watch out. The only thing that some "autopilot" forex software products will do for you is... analyze the market. Sure, that's great because when a computer does all the analytical work for you, you don't have to sit in front of a screen looking at charts and candlesticks for hours on end.

But a ROBOT program goes much further.

Forex robots will actually DO THE TRADING for you, as well as the analysis work. A well-written Expert Advisor (EA) will buy at the right time and sell at the right time. It's the ultimate in hands-free currency trading... as long as it's a well-programmed forex robot.

So what are the best forex trading robots available today? I've tried several but only identified one I am happy with at this point... RoboMiner. It primarily works with the AUD/NZD currency pair and is programmed to only trade when you will make a profit. It takes profit when a trade has reached a 1.5% profit.

Why I don't like these EA's

PipsMiner. I first used the wrong settings and as a result lost money. Then I corrected my mistake and entered their recommended settings but still lost money with PipsMiner SE version. Here endeth my very brief PipsMiner user review.

Forex Megadroid. I was running the default settings in demo mode and it didnt turn a profit for me, so I got a refund from ClickBank. That's the nice thing about buying through ClickBank. Although the site promises world class support, it fell far short of that in my experience.

ForexBling. Support was inadequate. I had several questions about setup, but they were answered in just a few words when my questions really needed more info. Even the brief answers did not address my actual questions in some cases.
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