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Make sure there are no complaints

Of course, it is possible that your broker may be genuinely attempting to grow your assets, but you need to find out exactly what they are doing and why. If you are calling the shots and the broker is following your Forex instructions, then that cannot be classified as churning. Make sure there are no complaints about not being able to withdraw funds. If there are, contact the user if possible and ask them about their experience.

  • Such cases might turn useful if you are not sure whether that broker is a good choice for you.
  • I started my trading journey by buying UK equities that I had read about in the business sections of newspapers.
  • London has always been the world’s financial center for foreign exchange, and many professionals from the London area have migrated over time to Canada.
  • Instead, they make trades based on psychology (e.g., if a trader feels the market has to move in one direction or the other) and there is essentially a 50% chance they will be correct.

A typical spread for most forex pairs is 1.3 pips and sometimes higher than 2, though one-pip trades are available for some pairings. In ultra-favorable conditions, https://www.accessify.com/d/dotbig.com the spread can be as low as 0.77 pips. The foreign exchange, also known as forex, is a global marketplace for buying and selling currency pairs.

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The market maker evaluates how many people are trying to buy and sell positions and at what price. The market maker helps balance and match these different positions so that the trade can be executed.