Guidelines for new traders to keep your money safe:

The first thing before starting trading is to choose the optimal brokerage company, which has strong licenses and is subject to a strong regulatory authority to ensure your investment with a reliable company, which ensures that the accounts of traders are separated from the accounts of the company, and that you do not fall victim to scam companies. Trading with emerging companies that do not have licenses and are not subject to a supervisory body that protects you in the event of fraud or delay in withdrawing due to lack of credibility and lack of transparency, and 80% of traders lose their money by granting the intermediary company the right to trade on their behalf, and that the company appoints The so-called expert, financial advisor, portfolio manager, or several names that fall under the same purpose, and who has been entrusted with the task of either contacting you and giving you recommendations to buy such-and-such or sell such-and-such, and that there are certain expectations, according to him, to make a profit with the future fee of gold shortcomings, and this is from some The things that happened to me with one of the companies that bought my data from a previous company do not believe me to expedite the start of trading before it is too late, and this is what the new trader may be exposed to, which makes him implement the deal unconsciously, and thus you may be contacted again on the same day to advise M by depositing an additional amount to be able to open positions or other deals on other currencies in the same way, that is, you put all your capital at the mercy of the company, and it is known that these companies open deals in a size that does not fit your account. Your misfortune, and the luck of the company is your loss of your entire account, and you will find nothing but regrets and sweet talk to bring the ball back again, perhaps you will get back what was previously gold so that they can be sure that you spent the last of what you have.

Therefore, be very careful of this type of company. Either you manage your account yourself without being bound by the recommendation of someone from the company itself, and you seek to learn the basics of trading and how to maintain your account before drawing a map of profits, or you leave the field of trading, my advice should be You have knowledge and awareness of what is happening around you in the market and develop your skills with the events.

Aspects that you should consider when choosing a brokerage firm:

  • Approval and licensing of the company and the financial and supervisory bodies that regulate it.
    1. One of the strongest licenses granted is the FCA license in Britain
      Make sure the company's address is in Britain
      Make sure it exists as an entity within the British companies
      Make sure the license is valid and valid
      Match the company name, some scam companies use licensed company names
      Check the company address and main phone numbers authorized by the regulatory authority

  • The speed of executing or modifying transactions, to enter and exit at the time you want
  • Make sure you can open Islamic accounts that are free from usury and interest
  • Account activation and confirmation, deposit and withdrawal methods, and transaction execution period.
  • Quality of customer service and languages, if you encounter a technical problem or something you do not understand, you need to be sure to get help quickly.
  • Choose a company that provides you with many options for leverage that suit your current and future balance.
  • You must make sure that the company accepts all trading strategies without restrictions: expert trading / scalping / hedging / closing deals whenever you want.
  • Concerning companies offering Bonus offers, check its conditions and do you have an obstacle to withdrawing your profits!
  • The type of platform you will be working on, either browser-based or software that can be installed on your device. The most popular MetaTrader 4 or 5 platforms.

Types of Spreads in Accounts

  • Fixed spread (the lower the better)
  • Variable spread (the lower the better)
  • May be on the platform of both types for some pairs or commodities and indices

Broker type according to account types

  • Market Maker - MM
  • STP - Straight Through Processing
  • ECN - Electronic Communication Network or DMA - Direct Market Access

Note: The company may offer one type of account above and the company may have a market maker type of privilege to open ECN accounts to execute the transaction outside the company's trading room walls directly in the market, but this service is mostly It is paid and an amount is deducted from the deal that you opened, and the deduction value is pre-determined and announced by the broker. Most of these accounts are not Islamic.

Risk Disclaimer

Trading forex, currencies and CFDs involves significant risk to your investor's capital. Before deciding to trade forex or any other financial instrument you should carefully consider your investment objectives, level of experience, and risk appetite. The Middle East forex site will not accept any responsibility for losses or damages as a result of relying on the information contained on this site, including data, currency rates, charts, buying and selling indicators and educational strategies. We advise you to try the demo account to evaluate this area and see if it is suitable for you Or not, with the advice of an expert or financial advisor.