Best answer:

Answer by rubye
Hi,

Different countries have different laws.

Generally speaking, if you’re just trading for your friends and relatives, you probably don’t need to be registered.

However, if you’re looking to trade professionally (on behalf with clients), then it’s a more complicated matter.

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Types
There are two types of automated system driven trade

Forex Robot – Here everything is automated and such systems are often known as the black box. On the green signal of the forex robot you have to take a call on buying the currency whereas on the red signal of the forex robot you have to take a call on to sell the currency. Forex robots are apt for someone who is beginning on the currency trade and doesn’t know the tricks of the trade. You can just buy or sell the currencies based on the signal from the forex robot.

And you can only make changes in the system by altering the technical aspects of the system.

Signal Based – In this system the strategies of analysts and traders all over the over world are converted into signals for anyone who is interested in forex trading and they can make real time trades based on these signals which are eventually based on the strategies of the experts. One of the examples of signal bases auto trade is Zulu Trade.

History
Forex Robots and other automated systems came in to existence in the year 1999 when computers were revolutionizing the world of technology. That is the year when computer based companies tried to cash in by providing quick solutions for the people who wanted to trade thus providing huge opportunity to the general public to invest and gain through forex markets.

Advantages
Forex Robots have several advantages over a human trade. With the use of forex robots more users can take part in the market, they are quick and data of many past years can easily be stored in them. They give an opportunity for beginners to learn the tricks of the trade and it is easy for them to start on forex trades with these forex robots.

Signal automation gives you an advantage of having expert opinion from all over the world. The financial pundits, whose knowledge is vast and their strategies can prove to be of great profit reaping tips.

Disadvantages
It is said that in the past data stored in these forex robots were nothing but opening and closing rates of the currencies in each date. This can be done manually and there is not much technology involved in it. If a person has no knowledge of how to save data then he would never prove to be a successful trader anyways.

Another disadvantage is that the past data stored in the robot might be inaccurate which affects the entire system. There’s no human judgment where the robot is involved, it doesn’t take international news into account which can invariably affect market fluctuations. Robots by their nature merely take into account market fluctuations in terms of numbers and not the cause of said fluctuation. Thus it cannot precisely predict the market which by its nature is dynamic. Existing patterns, data and past benefits cannot accurately predict future returns; robots run on past data which as you can probably imagine might not reap future benefits. If a robot causes you to incur loss you end up losing the money that you invested on the system as well as the money invested in buying the Forex robot.

Regulation
As the Forex market is huge and unregulated, Forex robots although making Forex trading available to the masses; make more and more people susceptible to fraud and scammers as most of the forex scams are done through these forex robots and other automated systems.

The best Forex robot for the year 2010 is said to be FAP Turbo. But again the system is not flawless and for you to gain profits out of forex trades you have to keenly study the markets and have all eyes and all ears open for international news that might have an impact on the currency market which is very news sensitive.

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MeetPips.com, the online forex trade journaling and social networking site, has released the latest version of its key trade journaling feature and a new user statistics display. With the latest enhancements, MeetPips.com sets the bar even higher for simplicity and transparency, highly valued by traders when it comes to tracking performance.

A major improvement in the automatic journaling feature is the ability to manage multiple broker accounts. Each account is given separate trade baskets that house 100 of the users latest closed, open, pending, and cancelled trades. Actual broker names remain visible only to the accounts owners to maintain privacy.

With MT4Sync tied to a MeetPips.com account, new trades or changes to existing ones executed through the Meta Trader 4 platform are automatically updated in users trade baskets, ready for publishing. Intuitive sorting features have been implemented to make managing each basket easier as well. From that point, a trade can be published to the members trade journal in as little as two clicks.

The latest and newest feature that MeetPips.com will be rolling out is the addition of a user statistics display for members with active trading platforms connected to the site through MT4Sync. The display shows users overall trading progress and activity over a selected period of time, from an annual perspective, even down to a daily time span.

Striking a balance between sticking to your trading plan and adapting to what works and what doesnt can only be done through consistent and disciplined monitoring, says Odell Ramirez, co-founder of MeetPips.com. In a single glance, members can view charts and graphs on fellow traders overall gains, losses, growth, accuracy, profitability, and a list of in-depth numerical stats, all displayed in a simple and organized layout.

The user stats are based on a trader’s account history and not just trades published on the users journal. This is helpful not only for individual users as a means of monitoring their progress, but also to the entire community. Because MeetPips.com highly encourages learning from peers, it is important for each trader to be honest and transparent. Ramirez added, Having statistics based on the complete record of each users trades means that theres no such thing as just putting your best foot forward. What you publish is up to you, but your statistics will show the complete picture. Trust is the most important value we foster in the MeetPips.com community, so having the stats cover all trading activity was a non-negotiable.

Forex traders can sign up for a free account at http://www.meetpips.com. Follow them on http://twitter.com/meetpips.

About MeetPips.com

MeetPips.com is part of the pips ? la carte network of forex trading sites designed to provide all the necessary resources to traders from around the globe for absolutely no charge. Whether a novice or highly-experienced, there is something worthwhile that can be found in the different sites. As the primary networking and performance tracking arm of the Pips ? la Carte family, MeetPips.com has grown its member base to include over 10,000 users since 2009.

# # #

Thank you.

Best answer:

Answer by Stead
I recommend you start with a dummy account before you play with real money. Forex trading is very hard, there is no such thing as quick money. It takes a lot of time and effort. Forex is especially difficult due to so much speculative activity.

Know better? Leave your own answer in the comments!

Best answer:

Answer by dotty
I think that Forex will have some interesting ramifications on the geopolitical power shifts that may happen sooner rather than later.

There is no way that the USD will ever be the universal currency. I would not be surprised if the USD loses its position as the currency with which all oil transactions occur. I can see the EUR as becoming a more dominant currency and I can also see the oil rich countries in the Middle East establishing their own version of the EUR.

Now that the USD and CAD are near parity perhaps we will all be learning what a loonie is.

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What do you think? Answer below!

In a climate of financial turmoil, the Forex trading industry has continued to grow both in size and volume and at the end of 2011, Tadawul FX is looking at the results of what was a very productive and exciting year for the company. The record year saw an 81% increase in trader numbers, a 51% increase in trading volumes and received numerous awards, amongst them the prestigious World Finance 100 Award. The number of traders continues to increase as Tadawul FX expands its services and demonstrates its commitment to excellent customer support.

The expansions and milestones achieved by Tadawul FX during this year include the launch of several new instruments including some new exotic currency pairs and new commodities, as well as the introduction of several new cross-currency pairs in its key markets such as Hungary (HUF) and Russia (RUB). The company also finalised the launch of its Russian and Arabic websites, and received various awards including the Excellence Award for Islamic Forex Broker and the Excellence Award Forex Broker Middle East.

Again, proving its dedication to customer support, one of the most significant additions to the Tadawul FX service this year was the launch of its MT4 mobile trading applications now available in 10 languages, making it possible for clients to trade on the iPhone, iPad, Android, Blackberry, and Windows Mobiles. All the Tadawul FX mobile applications are available to clients for free. The company also released its Web Trader platform to allow its traders to trade, how, when and as often as they like with no restrictions on where they access their trading platform from. The Web Trader and mobile applications were received very well by traders, allowing them to keep better track of equity and respond faster to market movements.

Chief Operations Officer of Tadawul FX Thomas Papantoniou stated, Our continual adaptation in order to accommodate our traders is of utmost importance to us. Over the past year we have committed to meeting their needs and demands, and reflecting on the past year, Im happy to say we have succeeded in doing so. We are delighted with the large increase in both our clients and trading volume and the recognition we have received from our industry peers. We will of course continue these efforts in 2012 with renewed vigor.

2011 was also a very productive year for partnerships as in the second half of 2011 Tadawul FX announced its partnerships with both Commerzbank and Russian Commercial Bank. Commerzbank, a leading German financial institution, provided traders with another safeguard and further security in these financially turbulent times, and the partnership with Russian Commercial Bank facilitated all transfers from Russia, which is a fast-growing market for the company.

Stavros Yiannakou, Chief Executive Officer of Tadawul FX commented on 2011, As seen by the developments, expansion, awards and milestones achieved in this record year, Tadawul FX is firmly placed as a premier Forex broker with a very impressive portfolio and track record of proven customer commitment and support. 2012 will yet again see our continued efforts to provide even more innovative and attractive services to all our traders, by continuing to demonstrate dedication to offering a first class trading experience.

About Tadawul FX:

Tadawul FX Ltd is an online forex broker. Tadawul FX Ltd is licensed and regulated by the Cyprus Securities & Exchange Commission (license number 103/09) and is also registered with the UK Financial Services Authority (FSA) with registration number 516667, as well as the German regulators BAFIN (Reg 123252).

For more information, visit http://www.tadawulfx.com or contact Tadawul FX at support(at)tadawulfx(dot)com or telephone: +357 25 200 920.

###

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Best answer:

Answer by mortin
hi
i heard about it but its not comfortable to trade forex markets thats wat one of my friend told .do u know fxyard.we gain huge profits with their automated trading service by their market experts.read mor

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