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Q&A - What is the best way to trade?

What is the best way to FX TRADE? Is GFT the best broker?

Your question is interestingly simply, but scares me a bit. I would have to say that investing can be hard but trading takes you to a new level of risk and return. Even the best traders find it hard to make money day-in and day-out and I know many professional FX traders that trade for corporates but who will not invest their own money in this way.

If you are going to trade, then please be aware that FX is one of the hardest investments to pick the direct on. In addition, if you are going to trade, you must really know what you are doing and be able to do lots of research and have a high level of understanding about economics and politics.

As far as the best way to trade FX, I would suggest you start by looking at Contracts For Difference but remember these are highly leveraged trading instruments and you should research them carefully to understand what you are getting yourself into.

As far as the best broker, I would suggest that each broker has his or her own pluses and minuses. I would say that you need to find a broker who provides you with the pricing and services that fit with the trading strategy you want to follow and go from there. In your case, you would also want some high quality research. Usually, it is a good idea to have at least two brokers, one acting as a backup for the other, with different (but sometimes overlapping) trading ideas from each.

For advice you can trust contact Switzer Financial Services.

Important information:This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. For this reason, any individual should, before acting, consider the appropriateness of the information, having regard to the individual’s objectives, financial situation and needs and, if necessary, seek appropriate professional advice.

 

Published on: Wednesday, August 26, 2009

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