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Avoid brokers that offer signals or guarantee returns when trading with them. They are definitely a scam broker as they will bait you in with some small profit and then feed you a huge loss signal, they will often also try to convince you to make a deposit to save your position but that gonna...

Knowing how to choose the right leverage is definitely important. Leverage is always a double edge sword and I find newbies tend to overuse their leverage so they end up with a huge loss. Personally i would suggest start with a lower leverage like 1:50 - 1:200 max

There are multiple trading strategies but each trader will have a different preferred trading style and method. Therefore i believe the best trading strategy would be the one that works the best for the said trader. They will also need to measure their trading performance in order to see if...

Forex market changes all the time and there are many factors that can influence the price. Traders that can constantly learn and adapt to the market will perform better, trading strategies can change and evolve over time. I don't believe a single strategy will always work without any adaptation...

If you are a new trader without much experience then yes, it's better to avoid exotic pairs as you lack the knowledge and discipline to handle high volatile and lower liquidity. However, if you are an experienced trader then exotic pairs can provide more opportunities for your earnings as they...

You can open a demo account to practice alongside your learning progress. IMO you will learn faster when you open a position for your strategy or analysis after learning them. That way you can also see your mistakes and learn from them. Furthermore, a demo account is completely free so you...

I think it's still important to set up stop loss in case the market goes again and you may not always look at the price chart, it may not protect you again gap opening or slippage but i believe some form of protection for your trade is still better than nothing.

I hard agree that learning is absolutely important in the trading cause without the knowledge to trade then you are essentially just gambling your money away. Trading is definitely a get rich quick scheme, it takes years with consistent performance to be a stable living income. If you are...

part-time trading works just fine imo. It's less stressful as your income isnt entirely rely on your trading. It takes time to build a consistent performance so i think it's better to have another income to pay your bills.

it's not illegal but non-registered fore brokers is often just a scam so you are better to find a trusted broker to trade with so your money is saved with them. The market is popular so you need to identify and avoid scam brokers so you can make a profit and not loosing all your hard earn money...

a demo account is nice but i would argue a micro/cent account would be better for beginners as they only need to commit a small amount of capital. However, trading with real money will teach them much better about risk management and how to deal with anxiety in trading.

i agree, finding a trading style that suits you and then choosing a broker that is best for that trading style would be a preferred way. If you are good at swing trading then maybe find a broker that offers a free-swap account so you can cut down on your cost or find a broker with low spreads...

The forex market still has the highest liquidity and low commission cost. Volatility can be considered both risky but also more opportunities for trading. As someone mentioned above, the threat of scam brokers is also very dangerous. That is why when choosing a broker, you should always look...

Forex is a long-term gain and definitely a get-rich-quick scheme. A new trader should focus on getting proper education on trading and understand all the basic concepts first, aiming for profit as this stage isn't exactly necessary. However, i would still suggest they open a micro/cent account...

TikTok can be a trap for beginners as said above cause of the unrealistic gains being show on tiktok that make it looks so easy. So yeah they can pump the liquidity of maybe a particular exotic pairs if KoL on tiktok decide to suggest everyone to build that pair only.

First step to proper money management is set a risk/reward ratio and stick to it so you can ensure you arent risking more than you should per trade. Setting stop loss is also important so you don't get too greedy and end up loosing more on the trade.

If you have experience and wanna go for something riskier, then exotic pairs are worth having a look over. The higher volatility and higher swing open up to more opportunities as the stable the pairs, the fewer opportunities you gonna have to make the trade.

Scalping is risky cause it requires a lot of experience and proper analysis to identify a good entry point to start. You also need to have a strict trading discipline as one greedy move can cost your entire profit very quickly so you have to always stick to your set TP/SL.

you can also just check for yourself as there are a few key things to look for. What regulation do they have? Are they ECN or DD brokers? What are their spread and commission? Then maybe open a demo account or cent account and just test them out.

i'm using AximTrade which is an ECN broker that is regulated by ASIC, they have quite tight spreads and fast deposit/withdrawal so it has been nice to trade with them so far. There is a review on aximtrade if you need more details.