Forex Trading Tips For Beginners

March 21, 2022 by Nick in General

Introduction: Forex trading can be a great way to make money. However, it can also be risky. That is why it is important to learn as much as you can before you start trading.

What is Forex Trading?

Forex trading is the process of buying and selling currencies, stocks, commodities, or other financial assets using foreign exchange markets. Forex traders make trades based on price movements in these markets. Forex trading can be a very profitable way to make money, but it is also risky.

The Benefits of Forex Trading

Forex trading is a highly profitable investment that can provide you with steady returns in the short term and the potential for large profits in the long term. Forex trading offers a number of benefits that can make it an attractive investment for both experienced and novice traders.

Forex trading is a fast-paced, highly speculative market that is open 24 hours a day, 7 days a week. This flexibility allows traders to take advantage of opportunities as they arise, which makes forex trading one of the most exciting and volatile markets to participate in. Forex trading also offers some unique benefits that are not available in other markets, such as the ability to trade on margin and trade across multiple currencies.

Overall, forex trading is an extremely profitable investment that can provide you with steady returns in the short term and the potential for large profits in the long term. However, forex trading is also a highly speculative market that is fraught with risk. If you do not have experience trading other financial assets, forex trading may not be the best option for you. Before you start forex trading, it is important to learn as much as possible about this complex and exciting market.

The Risks of Forex Trading

Forex trading is a very high-risk activity. There are a number of risks that you need to be aware of before you start trading Forex:

1) The risk of losing your money – Forex trading is an extremely speculative activity and can lead to massive losses. If you don’t have the financial resources to lose, then you should avoid Forex trading altogether.

2) The risk of not being able to sell your position – If you buy a currency pair (e.g. EUR/USD), and the price goes down, your position may become worthless. If this happens, there is no way for you to sell the position and get your money back – unless you are willing to take on additional risk

3) The risk of not being able to buy a currency pair – If you sell a currency pair (e.g. EUR/USD), and the price goes up, your position may become worthless. If this happens, there is no way for you to buy the position and get your money back – unless you are willing to take on additional risk

4) The risk of market volatility – The Forex market is highly volatile, which means that the prices of currencies can change rapidly and without warning. This can lead to huge losses if you don’t have a well-managed trading strategy

5) The risk of market manipulation – There is a risk that the market is being manipulated, which means that the prices of currencies are being artificially set higher or lower. This can lead to huge losses if you don’t have a well-managed trading strategy.

How to Get Started with Forex Trading?

If you’re new to forex trading, there are a few things you’ll need to do before getting started. The first thing is to find an online broker that offers forex trading. Once you’ve found a broker, you’ll need to create an account and fund it. After your account is funded, the next step is to sign up for a forex trading platform. A platform will give you access to real-time market data, order books, and other tools necessary for day-trading forex. Finally, once you have all of the necessary tools and information, it’s time to start trading!

Conclusion

Forex trading is a highly risky investment, and it is not for everyone. If you are not comfortable with risk, you should not try forex trading. Before getting started, make sure you have a solid understanding of the risks involved and have developed a well-managed trading strategy.

How To Get A Free Forex VPS With ICMarkets

March 20, 2020 by Nick in General, Promotions

We have partnered with ICMarkets to provide free VPS service for their clients. The steps to receive free VPS service can be found below:

Step 1: Trade 15 lots or more each month – In order to receive free VPS service you must trade 15 lots or more each month. If you trade less than 15 lots then it is possible that your free VPS service will be cancelled.

Step 2: Apply – After you have met the required trading volume of 15 lots, you must apply for the free VPS service here – https://secure.icmarkets.com/Vps

Step 3: Wait For VPS Details – Once your free VPS application has been accepted we will setup your VPS and email you the login details within 24 hours.

FAQ:

Q: I have multiple live accounts with ICMarkets. Will the total volume across all accounts be counted?
A: Yes, the total volume for all of your accounts counted.

Q: What if I don’t meet the trading requirements yet?
A: Even if you do not yet meet the 15 lot volume requirement you can still enjoy a discount on our services. Once you reach the volume you requirement you can then request your free VPS service. The link for discounted VPS service can be found here – https://newyorkcityservers.com/icmarkets-vps

Q: If I start with a paid VPS plan, and then move to a free plan can I keep the same VPS?
A: Yes, your VPS will remain the same even when you upgrade to a free plan.

Q: If I change from a paid plan to a free plan once I reach the required volume, will I get a refund for past payments?
A: No. There are no refunds for past payments. With the way the system works ICMarkets will be paying for your service going forward only. All past payments are final.

Q: What if I fail to meet the volume requirement one month?
A: If you fail to trade 15 lots in a month then it is possible your free VPS may be cancelled. In this case we will send you an email alert so that you can make any changes needed, or change your account to a paid plan.

Benefits Of Using A Forex VPS: Latency

February 21, 2020 by Nick in General

In the volatile world for forex it’s no secret that every millisecond counts. The matter of just a few seconds will make the difference of where your order is filled, thus eating away at your profits or amplifying your loses.

For example: let’s say that you are trading from your home PC in Europe, and your broker’s trading server is in NYC. You send an order to buy 1.0 lots of EUR/USD at 1.08450. However due to the distance and network latency/delay your order actually gets filed at 1.08455. This is a difference of 5 pips! When using the trading volume of 1.0 lots, this is equal to losing $5 just because of the network latency/delay. Imagine how much money is lost when you multiple this by 10 or 20 or even 100 trades!

However NYCServers is here to help! With our VPS service traders can run their trading platforms on a remote computer that is very close to their broker’s server. This means that your order will have less distance to travel, giving you better order executions (thus more potential profit)

Here is a great visual example:

In this example, the trader is the blue dot. Their broker’s server is the green pin.

As you can see orders must travel a great distance before it reaches the broker’s server. Now let’s see how that changes when the trader uses a VPS…

Now the broker is the blue dot, and the trader’s VPS where their trades are coming from is the green dot.

As you can see by using a VPS the trader has greatly reduced the distance that their order must travel to reach the broker’s server. This will result in faster order execution times, and potentiality more profit for the trader!

If you have any questions about our VPS service please contact us anytime by emailing sales@newyorkcityservers.com. We are always happy to help!

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Author: Nick