Turning a profit with Forex trading might sound simple – after all, at its essence, it’s really just buying low and selling high. Yet, if that’s the case, why do so many traders fail? So, we have three questions to answer:
- What mistakes are rookie Forex traders making?
- How can you avoid those mistakes?
- Once you get the hang of Forex trading, how can you improve your profits even further?
Learn the answers to these – and more – in this guide from Trader’s Union!
Common Forex Trading Mistakes & How Traders Union Can Help
Throughout our experience in the Forex industry, we’ve noticed several key mistakes that newbie traders experience time and time again. First and foremost: choosing an unreliable Forex broker.
A Forex trade is only as good as its broker – and, unfortunately, scams are abundant on the Internet. Scouring through reviews, verifying license information, reading the Terms & Conditions: when you do all of this for several brokers, time adds up quickly. Worse yet, there is always the possibility that, after examining all factors carefully, you are still fooled by some clever wording and false reviews.
That’s where Traders Union comes in.
We’ve made it our mission to scrutinize Forex brokers, verify that they are completely legitimate, and present our members with only the best of the best. Traders Union has developed a methodology of over 100 criteria; our Forex Broker Rating measures:
- The broker’s reputation and customer satisfaction
- License and regulation information
- The level of fund security
- Compliance with the broker’s declared trading conditions
- The level of customer service support
- The economic status of the company
And much more! With our objective rating, Traders Union members can rest assured that all partner brokers are safe and advantageous to work with.
Another mistake rookie Forex traders often make is setting wild expectations for profit. Trading Forex is not a get-rich-quick scheme; accumulating profits is a marathon rather than a sprint. We understand that it can be frustrating when profits compile at a slower rate than you were anticipating – but we can give you a significant boost. How? With Traders Union’s exclusive rebate program.
When you work with brokers through us, you’ll get a daily and monthly rebate as part of the commission or spread – even if the transaction is unprofitable. We’ve even developed a powerful Profit Calculator, which can help you determine just how much extra profit we’ll put in your pocket. With this tool, you can select the broker, account type, and currency pair, indicate the number of lots per day (as well as the total number of days), and immediately get an estimated profit result.
One final mistake we’d like to address: new Forex traders often underestimate just how much market research goes into developing a successful trading strategy. Keeping up with the latest market developments can be overwhelming, though – but we’ve simplified the process by publishing important insights on our Analytics page. We cover interest rate decisions, unemployment rates, fluctuating macroeconomic factors, and more. And, if you’d like a more general overview of how to analyze price movements, head on over to our Education section – we’ll teach you how to make a Technical and Fundamental Analysis. Make data-driven trades to improve your profits!
Make Bigger Profits on Traders Union: We Fight for Fair Trading Conditions
At Traders Union, we put you, the trader, first. Our goal is to provide you with a safe, advantageous trading environment in which you can make as much profit as possible while also limiting risks. We’ve listened to feedback from our members and applied it to our features: our organization has implemented innovative ways to support users, including:
- Rebates, monthly contests, and bonuses: As mentioned, Traders Union members get rebates, which can sometimes be up to 100%of the spread paid to the broker. What’s more, we have an Affiliate program and various contests to sign up for.
- Comprehensive consulting: There are specific consultant departments to assist traders with any issue; our “Work with investors” service helps users pick the best investment program and select trading instruments. The “financial” consulting service resolves issues with transfers, payments, and all other monetary situations. Not to mention our expert, friendly customer support team, which handles general issues.
- Legal benefits: Should a dispute with a broker ever arise, our dedicated lawyers will analyze the claim and resolve the conflict.
So, what do you think? Are you ready to start working with the most reputable brokers, with us fighting on your side? Sign up for an account and start enjoying the numerous benefits Traders Union offers; creating an account takes just a couple of minutes. Happy trading!