Let’s Talk Forex with Alison and Chris

Understanding different order types is a crucial part of trading. They help traders manage their risk and prevent huge losses when prices move unexpectedly in the wrong direction. In this episode, Chris and Alison cover the basic order types, how they function, and how traders can incorporate them into a trading strategy. Additional useful info: https://fxscouts.com/forex-education/what-is-stop-loss-and-take-profit FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

Why are demo accounts so important for beginner traders? How bad is it to skip practicing on a demo account? And how is a demo account different from a “real” trading account. In this episode, Alison and Chris dive into the world of demo accounts and share personal stories of past mistakes to help beginner traders get a successful start to their trading careers. We have also put together a toplist of brokers with the best demo accounts for you. https://fxscouts.com/forex-brokers/demo-accounts FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

A special episode this week as Alison and Chris interview Monty Barnard, the COO of Khwezi Trade, one of South Africa's leading Forex brokers since 2013. We chat with Monty about the global changes in the Forex industry and how they have affected South Africa. We also find out what it's like to run a Forex broker, and how traders have changed, especially over the last tumultuous 6 years. This is NOT a sponsored episode. Khwezi Trade is a South African broker and partner of ours, and while they are featured on our sites, we have received no financial compensation for this interview. Khwezi Trade has been tested and evaluated objectively according to our guidelines. You can read our review guidelines here, and our review of Khwezi Trade here. FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

Leverage is a double-edged sword. It's essential for making a profit in Forex trading, but using it recklessly will only lead to disaster. Tune in to find out how leverage works, why it's important, and how to use it wisely. We'll also discuss the difference between leverage and margin and why regulators sometimes restrict the amount of leverage a broker can offer. A few things mentioned in the episode you may want to check out: Some more reading on Leverage: https://fxscouts.com/forex-education/what-is-leverage-in-forex-trading/ And our video on Leverage explained on YouTube.: https://www.youtube.com/watch?v=gLnoFMLEYIg&t=116s FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

Crypto trading has recently come under the scrutiny of some of the world’s top tier regulators. In this episode we cover the basics of crypto trading, the difference between crypto trading and trading crypto CFDs, and what recent regulatory changes mean for you as a trader. Visit FxScouts to learn more and find a regulated broker. To know more about GoMarkets which Alison mentions at the beginning of this episode, check out their review here. This episode is also available on YouTube: https://youtu.be/dFwPLvaBo_U FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

Positional traders tend to ignore short-term price movements and prefer to rely on fundamental analysis​​ and long-term trends. They hold positions for months and sometimes even years. Listen to our podcast to find out more about whether positional trading is the right style for you. For more educational material on Forex trading, checkout our Education section here. FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

Many traders think that day trading and scalping are similar. Although both trading styles do take place within one trading day, there are important differences between the two. In this podcast we discuss the golden rules of day trading and how to go about choosing the best day trading broker. Watch our video on Day Trading on YouTube Find more educational content here: https://fxscouts.com/forex-education FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

This week we are kicking off a three week series that will cover some common Forex topics that beginner traders may struggle with. First out is Scalping. What it is, how it works and why it requires a clear trading strategy regardless of your trading experience. Find more information on Scalping here. FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

Skilling is a relatively new broker and one we expect to make some noise in the next few years. We recently tested and reviewed skilling, and in this episode, we share our insights on where they break new ground and offer traders an improved experience, as well as where they fall short and will need to improve as they grow. You will find our full review of Skilling (ZA) here and Skilling (UK) here. FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

The GBP crashes as the new UK government scares investors, is this just another example of the USD’s strength causing chaos in currency markets? How long can the Dollar keep on rising and what does the market volatility mean for Forex traders? Check out our YouTube video on this topic and follow our live currency update here. FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

This weekend, Apple pulled MT4 and MT5 from the App Store. Find out what we know about the resons behind this decision, what it means for iOS users, and what alternatives are available. Useful links: Top cTrader brokers in the UK Top cTrader brokers in South Africa Forbes article discussed in this episode To get in touch with us, send us an email: [email protected] FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

Many traders don’t realise or appreciate the importance of correctly sizing their trade, but it can greatly affect performance. In this episode we explain how you can determine your trade size using lots, and setting your stop-losses to reduce your risk. Click here for a chart comparing lot sizes For more advice on how to place your first trade, including detail on how to calculate pip value when your account currency and quote currency are different, click here. FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

Forex trading is a high-risk business, and while trades are often profitable, the majority of traders end up losing money because they do not manage their risk properly. There are several tools to help you manage and minimize risk in Forex trading. Using a stop loss order is one of them. Tune in and find out how it’s done. For more information, head over to FxScouts.com FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

If you don’t know how much the spread effects your trading, then you don’t know how much the market needs to move in order for you to cover you trading fees. Tune in and start understanding the Spread to trade Forex successfully. Example of GBP/JPY as mentioned in this episode. Get in touch! FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

In this week’s episode we cover currency pairs and how to choose which ones you should trade. We delve into what drives the price movement of these instruments and provide 5 steps for choosing the right currency pair. Major currency pairs: EUR/USD (Euro/United States dollar) - the most liquid pair USD/JPY (United States dollar/Japanese yen) GBP/USD (Great British Pound/United States dollar) AUD/USD (Australian dollar/United States dollar) USD/CAD (United States dollar/Canadian dollar) USD/CHF (United States dollar/Swiss franc) EUR/GBP (Euro/Great British Pound) FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

NDD, ECN, STP or Hybrid brokers.... don't worry, we know it can be confusing. In this episode we sort out what it all means and how these Forex brokers differ. For a list of our top-rated ECN brokers, click here. Don't forget to like, share and subscribe. FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

Market Maker brokers, also known as Dealing Desk Forex brokers, get a lot of bad press, but don’t believe everything you read and hear. Find out what their purpose is, how they work, and why they are so important to the functioning of financial markets. Find a top rated Market Maker Forex broker here. FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

We continue our dive into the top 10 beginner mistakes to avoid if you want to become a successful Forex trader, and cover the importance of setting a strategy, keeping your emotions in check, and why you shouldn’t apply Warren Buffett’s strategy to Forex trading. Check out our previous episode for Part 1, and click here to find a great broker for beginner Forex traders. FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

Forex trading is risky, and while the majority of trades are profitable, the majority of beginner traders make massive mistakes and end up losing money. So, what are these mistakes? How do you avoid them? And what do you need to know to get your trading career off the ground safely? We have gathered the top 10 mistakes in a two-part series on the topic, and here are the first 5 things not to do if you want to succeed at Forex trading. More Information for beginner Forex traders is available in our Forex education section. FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

Why are some brokers better than others? We analyze HFM (formerly known as Hotforex) and Tickmill, two of our top brokers, to see what makes a good broker. Our reviews of HFM (top 3 broker in South Africa) and Tickmill (Top 3 broker in the UK). FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

We share real life stories of people who have been scammed, how it happened, how to avoid it, and what you can do about it. Have you been scammed? Please fill out our scam report HERE. Watch our analysis of a scam broker site HERE. FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

Over 50% of scammers find their victims on social media. Most victims are educated and financially well off. Scammers are extremely skilled and convincing; in this episode we examine how they do it and what you can do to avoid falling victim to scammers. Additional information on Forex scams: South Africa - Forex scams report 2020 Financial scams double in 2021 - ASIC FCA 2021 Forex scams report FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

We get into the meat of it and compare Exness and XM. Which is the better broker, who has the most favorable trading conditions, best educational material, and customer service? We have chosen to compare these brokers because they are among some of the most popular brokers in the world and their reviews are two of the most read on fxscouts.com. Enjoy! Read our full reviews below: Exness XM FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

Non-trading fees such as deposit and withdrawal fees, inactivity fees, and currency conversion fees are easily overlooked and can significantly affect the profitability of trading. Transparency around fees is a main component when we test and rank brokers. You can read more about our review process here. FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

One of the most important factors to consider when signing up with a broker is the cost of trading. There are three different types of costs associated with Forex trading. These include the minimum deposit, trading costs and any non-trading fees charged by your broker. In this episode we cover the minimum deposits and trading costs. For more info on trading costs, check out our section on understanding your trading costs. If you want to get in touch with us and have suggested topics for future episodes, reach out via DM on Instagram or send us an email at [email protected]. FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

Beginner traders are faced with the daunting decision of choosing a platform when they first sign up with a broker. Knowledge about the various platforms on offer at brokers is often very limited. What is a trading platform? What does it do? Which one should I choose? and how do I use it? FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

Forex trading is risky. Around 60-90% of traders will lose money, depending on their Forex broker. Most traders lose money because they haven’t created a good risk-management strategy that keeps losses to a minimum. In this episode Alison and Chris talk about how to develop a risk management strategy. Best Forex trading demo accounts in the UK: https://fxscouts.com/forex-brokers/demo-accounts/ Best Forex trading demo accounts in Sweden: https://fxscouts.com/sv/bast-valutamaklare-sverige/demo-konto/ Best Forex trading demo accounts in LATAM: https://fxscouts.com/es/los-mejores-brokers-de-forex/las-mejores-cuentas-demo-de-forex-trading/ Best Forex trading demo accounts in Indonesia: https://fxscouts.com/id/daftar-broker-forex-indonesia/akun-demo-trading-forex-terbaik/ Best Forex trading demo accounts in South Africa: https://fxscouts.co.za/forex-brokers-south-africa/demo-accounts/ Best Forex trading demo accounts in Australia: https://fxscouts.com.au/forex-demo-accounts/ FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

When choosing a forex broker, first and foremost, it is important that the broker is well-regulated. Forex regulation is a system of checks that have been put in place to ensure that the forex market is a safe place to trade. What does it mean for a Forex broker to be well-regulated? How can you avoid Forex scams? Which are the best Forex regulators? and why are regulated brokers safe brokers to trade with? Link to overview of regulators by tier and jurisdiction as mentioned in this episode: https://fxscouts.com/our-review-process/#bookmark3 Top FCA regulated brokers: https://fxscouts.com/forex-brokers/fca Top ASIC regulated brokers: https://fxscouts.com/forex-brokers/asic-regulated-brokers Top CYSEC regulated brokers: https://fxscouts.com/forex-brokers/cysec-regulated-brokers Top DFSA regulated brokers: https://fxscouts.com/dfsa FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.

In recent years, online Forex trading has become very popular. This is because it doesn’t often require huge starting capital, it is available 24 hours a day, and if you have access to the internet and a mobile device or computer, you can trade. In this episode, we cover the fundamentals of trading, including what a broker is and what happens to your money when you trade. For a complete beginners guide: https://fxscouts.com/forex-education/what-is-forex-trading FxScouts DISCLAIMER: 75-90% of retail traders lose money trading Forex and CFDs. You should consider whether you understand how CFDs and leveraged trading work and if you can afford the high risk of losing your money. Any information discussed here is solely for educational and informational purposes and should not be considered tax, legal or investment advice.