How to start trading?

[evasmith]

Can someone please advise on to whether it is beneficial to trade with a regualted broker or an unregulated broker?

 

[beliz101]

I would say, regulated broker. that my opinion. Would love to see others input also

 

[Noma]

If you decide to work with an unregulated broker, you risk losing money.
When working with a regulated broker, clients are protected from fraud. Those investors who work with a regulated broker, in case of bankruptcy of a brokerage firm, may receive compensation. Also, such brokers are required to comply with all the rules of the regulatory organization.
Of course, this does not give a 100% guarantee against various kinds of troubles, but you are at least sure that your finances are in good hands.

 

[Frank N Stein]

Most people use online brokers these days. Minimal to zero fees.

 

[proexper]

Think about this, will you put your money on unregulated bank¿?
Because mostly is bank who let you trade.

 

[atomo]

what are good brokers to get started with? also, what strategy could be used when trading?

 

[evasmith]

I have heard from some of my friends that unregulated brokers provide with more trade benefits such as low trading commissions, raw spreads, faster trade executions etc.
Is thatn't correct?

 

[Estek]

atomo said:
what are good brokers to get started with? also, what strategy could be used when trading?
Click to expand...

I trade with TradeStation ( US regulated broker ). Their execution is top notch. To get your own strategy ( Yes - YOUR OWN STRATEGY ) you need to trade some time ... it took me 3 years. Because there are so many derivatives to trade ( stocks, options, futures etc ) that you must understand what you're comfortable to trade at, what's your risk managment, you need to define your rules to be profitable and last but not least - You must know yourself and you must learn to transform yourself ( learn from your mistakes ). Some say *It's the hardest easy money.*

evasmith said:
I have heard from some of my friends that unregulated brokers provide with more trade benefits such as low trading commissions, raw spreads, faster trade executions etc.
Is thatn't correct?
Click to expand...

With unregulated broker you can trade without PDT rule ( Pattern Day Trade rule ). That means if you trade with US regulated broker and have less than $25k in your account then you can execute 4 trades in 5 days. But many don't know that you can get a *cash account* with US broker and trade as much as you can with only one restriction - used money settle the next day or after 2 days depends on what you traded.
Hope that helps

 

[simmonjoshua]

With unregulated broker you risk your money but have advantages such as high leverage etc. And with regulated brokers your money is at low risk but there are many restrictions on the broker.

 

[evasmith]

Thank you everyone for the suggestions.
Please advise me some good videos of trading strategies which can help me to get better at forex trading as I want to try my hand son them. Lets see if they work for me.🙂

 

[Frank N Stein]

90% of retail traders lose 90% of their capital in the first 90 days.

You can't just watch some videos, self study and expect to learn to trade well. You need to find a good mentor and the really good ones are not on social media.