Education

Stay afloat, don’t drown: Top FX tips

With the launch of a brand-new FX offering that promises huge cost savings for traders, TIOmarkets has put together the 4 surest ways to keep your trading costs low and your potential for profit high

Traders often come across what they associate as ‘endless
possibilities’ in the world of trading.

Interestingly enough, displayed across the bottom of most retail
trading sites is a disclaimer that reads something like, “76% of retail
investor accounts lose money when trading”. The number for each broker is
different – it’s based on the performance of their clients – but it’s usually
pretty high, ranging from the high 70s to the 90s.

That’s why choosing the right broker is the only way to stay one step
ahead. Brand-new FCA-regulated, innovative FX firm, TIOmarkets, has put
together a guide on how to keep trading costs to a minimum amid an incredibly
volatile market.

From commissions to spreads, to account funding and withdrawal
policies, all of these factors have a say in how much you lose and how much you
earn.

TIOmarkets is launching
full throttle onto the forex scene on the 28th of May, fully loaded with its
unique subscription packages. But, to get started, here are some basic rules
that can save you potentially thousands of dollars on the cost of trading.

Rule #1 – Keep your commissions low

For every transaction that takes place, the broker will charge a
commission.

From the moment a position is open, the first thing that is deducted
from the trader’s account is the commission the broker charges.

In order to make a profit, the position should move in the right
direction by minimum the amount taken for paying the broker’s commission.

But the trader should remember that commission goes up with volume!
The bigger the volume traded, the higher the absolute commission charged. In
other words, if a person trades 0.1 lots and their commission is 0.9 USD, on
one lot, they can expect the commission to be proportional.

While commissions cannot be escaped, given that brokers will naturally
need to charge something for their services, traders should learn how to
interpret a commission and incorporate it as a regular cost that comes with any
transaction.

At TIOmarkets, their
best and most elite subscription takes zero
commissions
for a small monthly fee. Meaning the trader only pays once, and
then never has to factor in commissions for any of their trades for a whole
month.

Rule #2 – Find a broker with low spreads

Low spreads = more money for the trader.

Even without commissions factored in, the trader will start every
trade “in the red”, or making a loss. In order for a trade to become
profitable, the trader needs to cross the spread in the direction they are
trading. For example, if you buy EURUSD at 1.23150 and their spread is 1 pip,
they need to wait for the price to move up to 1.23160 for them to break even
and not be losing on their trade.

For this reason, lower spreads are important to move out of the red
and into the profit zone quickly and more often.

It’s especially important for day traders and those who open and close
multiple positions per trading session.

Be careful though, as many brokers who advertise “low spreads”
compensate by charging high commissions on each trade, or by requiring a
high-deposit account.

No-nonsense FX firm, TIOmarkets, is offering the same low spreads to
everyone, and don’t sneak in hidden charges either.

Their trading fees are
some of the lowest on the market. That’s low spreads across all major, minor
and exotic currency pairs.

Rule #3 – Do your homework

As mentioned above, there’s no point being sold on “low spreads” or
“low commissions” only to be hit with high and unexpected charges somewhere
else.

Traders must do their research. In order to consistently perform as a
trader, they’ll need to understand all of the charges involved.

Traders are encouraged to know exactly what charges they’re in for –
spreads, commissions, deposits, withdrawals, support – be in the know to avoid
being suddenly short on balance.

Once the trader has done all of their homework, signed up for a demo
account, done their practice, and, most importantly, put a trading plan in
place, it’s time to go live.

Once the trader is on the right track, it’s time to start trading with
real money. Although, it’s strongly
advised to start small when going live!
Make a deposit, a few trades, and a
withdrawal to uncover any hidden charges.

TIOmarkets promises no
hidden charges. Instead, they’re offering one low monthly fee in return for
huge cost savings on the other side, and other exclusive benefits.

Rule #4 – Find a reputable broker

Forex trading is booming. And while the number of online and mobile
trading platforms continuously increase, we slowly see the barriers to entry
decrease.

And this is the exact reason why partnering with a reputable broker is
crucial, because it’s the only way for a trader to protect themselves against
malpractice that could wipe out their account.

It’s no secret that the unregulated forex market is full of bad actors
who are looking to profit by offering a poor or rigged service.

These brokers are able to manipulate prices and spreads to ensure
traders don’t make a profit, or find reasons to withhold their withdrawal.

Traders are encouraged not to fall for the scams scattered across the
forex market. If it seems too good to be true, it probably is.

So once traders have
researched and compared the market, no doubt they’ll stumble upon TIOmarkets. The
fresh new firm, TIOmarkets UK Ltd, holds a license from the UK’s Financial
Conduct Authority (FCA). So now traders can trade with confidence and with no
compromise on trust, security and transparency.

Navigate your way to profit

It’s turbulent waters out there. If a trader isn’t careful, they’ll be
drowning in a sea of unwanted charges.

Instead, traders are encouraged to come up for air, fill their lungs,
and trade with a broker they can trust.

TIOmarkets is a
regulated broker offering unique FX and CFDs trading subscriptions and a
treasure-chest of benefits for one low monthly or quarterly fee.

Winning with their best plan, VIP Black

This subscription offers:

0 Commissions
Pay nothing in commissions, no matter how large your volumes or how
frequently you trade.

Low Spreads
Unlike other “0 commission” brokers, they don’t squeeze you with
higher spreads to compensate. Zero commissions, low spreads, no trade-off.

TIOreimburse –
Get 50% back of your first deposit
If a trader is stopped out within one month of signing up to trade
with TIOmarkets, they’ll give you 50% back of your initial deposit, no
questions asked.

TIO 2

TIOshield – Your
trading armor
For when trades go wrong, they offer an insurance service that lets
you reverse bad trades within 60 minutes in order to get your money back.

TIO 3

And much more.

Start Saving – 3
Months Free Offer
TIO 4
TIOmarkets is celebrating with three months free of their best
package, VIP Black, to the first 10,000 sign-ups.

That’s $150 of immediate savings, plus untold other savings depending
on your trading volumes.

But hurry, the clock is
ticking! They’ll soon be closing their 3-month free exclusive trading offer and
officially open the doors for trading.

ForexLive

When do the doors
open for trading?

TIOmarkets will cut the ribbon on the 28th of May!

But they’ve got even more good news ladies and gents, they’ll be
unveiling their impressive new website on the
20th of May
whereby traders will have an exclusive look at the company’s
offerings and the chance to play around.

Sign
up here

for their straight talking, no-nonsense trading. You’re guaranteed a number of
reasons to smile.

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