What are the trading brokers?
What are the trading brokers is a free lecture from the Dow Jones trading course:
https://eaforexacademy.com/courses/algorithmic-trading/stock-market-course-10-dow-jones-eas/
The trading brokers are the companies that give access to traders on the market.
In this video, Petko Aleksandrov will explain what you need to be aware of when you are selecting your trading broker.
The most important is to stay away from the scam brokers. In the Forex business it a full of scam brokers and Petko will teach you how to recognize them:
Hello, dear traders, it's Petko Aleksandrov, and in this video, I will explain what are the trading brokers.
So the trading brokers are enormous companies that give us access to the market through trading platforms like the Meta Trader platform.
Now, in the case with Meta Trader, it is a free platform for us the clients. Basically, the brokers pay the MetaQuotes Company, which has developed this platform, and they provide it for free to us the clients, the traders.
So we don't pay for anything. And if you're a beginner trader, this is really nice because having a Demo account, a virtual account with the broker, and having the free platform means that you can practice for free. Right?
You have access to the market, you see the prices, the quotes you can buy, you can sell, you can experiment, you can practice, which is the most important thing to do at the beginning while you are studying. Alright?
And the problem is to choose a good broker. So there are the regulations. So what are the trading brokers' regulations?
For example, in Europe, there are FCA regulations, which is a powerful regulator for brokers. We have PSI SEC. We have in different countries actually there are various regulators. So, for example, in the US it's different, in Australia it's different, in Europe, in Russia. Everywhere
There are these regulators. So look for the regulator of your region where you're living. Make sure to choose a regulated broker. This is the number 1 thing. There are, of course, the scam brokers.
How to recognize the scam brokers:
We have described the steps that the scam brokers take are. So you will be able to understand it if you fall into a scam broker by some chance. OK?
Simply they collect your contacts from anywhere possible. Different apps over the Internet, some fancy YouTube videos that promise unrealistic profits and stuff like that. And you just register and they start calling you, and they promise unrealistic things.
The robot that will bring you an 80 to 90 % success rate, that a professional trader will educate you and will monitor your trading and that their company will receive a small commission and stuff like that.
And the worst thing is they ask for your debit or credit card details, which is absolutely illegal.
So this might seem unrealistic to many people, to give your credit card details over the phone. But unfortunately, many people do that daily. And it will be really helpful if you just spend some time reading this post and you will have a better idea about these brokers, and you will learn how to avoid them. If by chance they just call you, you recognize them, so you just hang up the phone and don't answer it again.
The guys that are calling, they're very good at what they're doing. So this is how they succeed in asking for even more money when this so-called professional trader gives you the call. And you will see below that people actually lose a lot of money daily from these scam brokers.
Alright, guys? So I wanted to give you this tip, how to recognize the scam brokers. Make sure to avoid them, make sure to choose a regulated broker. Of course, if you have a hard time finding a broker, let me know. I will give you some tips, but I really avoid recommending a trading broker. What are the trading brokers that you should be looking for? Regulated!
★ Test EA Studio with 15-days trial and get the FREE course:
https://eaforexacademy.com/software/expert-advisor-studio/
� If you have any questions, please, write in our trading Forum.
https://eaforexacademy.com/forums/forum/general/
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https://eaforexacademy.com/courses/algorithmic-trading/stock-market-course-10-dow-jones-eas/
The trading brokers are the companies that give access to traders on the market.
In this video, Petko Aleksandrov will explain what you need to be aware of when you are selecting your trading broker.
The most important is to stay away from the scam brokers. In the Forex business it a full of scam brokers and Petko will teach you how to recognize them:
Hello, dear traders, it's Petko Aleksandrov, and in this video, I will explain what are the trading brokers.
So the trading brokers are enormous companies that give us access to the market through trading platforms like the Meta Trader platform.
Now, in the case with Meta Trader, it is a free platform for us the clients. Basically, the brokers pay the MetaQuotes Company, which has developed this platform, and they provide it for free to us the clients, the traders.
So we don't pay for anything. And if you're a beginner trader, this is really nice because having a Demo account, a virtual account with the broker, and having the free platform means that you can practice for free. Right?
You have access to the market, you see the prices, the quotes you can buy, you can sell, you can experiment, you can practice, which is the most important thing to do at the beginning while you are studying. Alright?
And the problem is to choose a good broker. So there are the regulations. So what are the trading brokers' regulations?
For example, in Europe, there are FCA regulations, which is a powerful regulator for brokers. We have PSI SEC. We have in different countries actually there are various regulators. So, for example, in the US it's different, in Australia it's different, in Europe, in Russia. Everywhere
There are these regulators. So look for the regulator of your region where you're living. Make sure to choose a regulated broker. This is the number 1 thing. There are, of course, the scam brokers.
How to recognize the scam brokers:
We have described the steps that the scam brokers take are. So you will be able to understand it if you fall into a scam broker by some chance. OK?
Simply they collect your contacts from anywhere possible. Different apps over the Internet, some fancy YouTube videos that promise unrealistic profits and stuff like that. And you just register and they start calling you, and they promise unrealistic things.
The robot that will bring you an 80 to 90 % success rate, that a professional trader will educate you and will monitor your trading and that their company will receive a small commission and stuff like that.
And the worst thing is they ask for your debit or credit card details, which is absolutely illegal.
So this might seem unrealistic to many people, to give your credit card details over the phone. But unfortunately, many people do that daily. And it will be really helpful if you just spend some time reading this post and you will have a better idea about these brokers, and you will learn how to avoid them. If by chance they just call you, you recognize them, so you just hang up the phone and don't answer it again.
The guys that are calling, they're very good at what they're doing. So this is how they succeed in asking for even more money when this so-called professional trader gives you the call. And you will see below that people actually lose a lot of money daily from these scam brokers.
Alright, guys? So I wanted to give you this tip, how to recognize the scam brokers. Make sure to avoid them, make sure to choose a regulated broker. Of course, if you have a hard time finding a broker, let me know. I will give you some tips, but I really avoid recommending a trading broker. What are the trading brokers that you should be looking for? Regulated!
★ Test EA Studio with 15-days trial and get the FREE course:
https://eaforexacademy.com/software/expert-advisor-studio/
� If you have any questions, please, write in our trading Forum.
https://eaforexacademy.com/forums/forum/general/
Our online algorithmic trading courses: https://eaforexacademy.com/courses/algorithmic-trading/
Let’s connect on social:
Facebook: https://www.facebook.com/eaforexacademy/
Instagram: https://www.instagram.com/eaforexacademy/
LinkedIn: https://www.linkedin.com/company/33249615/
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