Let’s Talk Forex with Alison and Chris

9. How to tell a scam from a serious Forex broker - Part 2

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.

8. How to tell a scam from a serious Forex broker – Part 1

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.

7. Head to head: Exness vs XM

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.

6. Read the fine print - Non-trading fees

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.

5. The cost of trading

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 podcast@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.

4. How to pick your trading platform

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.

3. How to minimize risk when trading forex

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://tradeforexsa.co.za/forex-brokers-south-africa/demo-accounts
Best Forex trading demo accounts in Australia: https://fx-australia.com/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.
 
 

2. Why should you trade with a regulated broker?

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.
 
 
 

1. The fundamentals of trading

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.