4 Tips For Choosing The Best Forex Broker In Indonesia

Brokers are the final piece of the Forex puzzle; they have to fit in precisely to see a wholesome result! Finding a good Forex broker can be a challenging task for many. In today's markets, it's not just the traders that are entering in thousands. By the day, several brokerage firms are rising and the environment there is just as competitive. In an attempt to captivate traders, several advertise themselves with claims of false profits, and novices fall for this!

Avoid making those mistakes. Look for the following in your broker before signing up:

1) Customer Reviews: 

An incredibly effective way of gauging the efficiency of your Forex broker is by going through customer reviews. Ratings and other such metrics can be purchased, but reviews can't always be bought. Go through blogs and other content on the internet to find out how reliable your broker is. At the same time, don't let one negative feedback get to you! The best way is to demo their account once and see for yourself.

2) Trading Platform Efficiency: 

Through each trade you make, the trading platform will be your companion; it has to be meticulous! Brokers are the ones who provide a trading platform and everything that comes with it. Elements like indicators are something you will employ often, so ensure the platform you are given is perfect.

3) Broker Assistance: 

"Help, I'm stuck on this trade." is a calling that should never go unheard! Novices and professionals both often require the help of a broker. This is why customer service is a factor of paramount importance while Forex Trading In Indonesia. Demo trading helps study this best. You can find out how good the service provided is by demoing with that broker once.

4) Leverage Provision: 

Leverage is the money provided by the broker to help you hold higher positions. This varies from one agent to the other. Some provide leverage of up to 50:1, while some don't cross 20:1. Pick a Forex broker in Indonesia where you feel the leverage works perfectly for you.

The struggle lasts till you find a good broker; once you do, it's smooth sailing thereon! Ax experienced broker can equip you with the best of requirements and assist you all the way to the top. Call WesternFX today, and avail the services of the best Forex Broker In Indonesia. Known for our Forex expertise, we strive to provide nothing short of unparalleled service, and ensure your trading experience is absolutely stellar! Get a free quote today.

How Using A Demo Account Hinders Your Trading Experience

Forex trading can be confusing in that, several tell you to practice on demo platforms, while others advise against it. Demo accounts are provided by brokers to simulate real-time trades and give the trader a thorough idea about how currency markets work. However, while this system is meant to provide assistance, it often works contrary to its purpose!

Several traders are starting to believe that live trading on a safer note is much better than demo trading. While these virtual platforms do provide you with the best of samples, they fail to replicate a real-time trade and the risks it carries.

Advantages of using a demo account:

Keep in mind that on a demo platform, you have limitless capital to trade with. You can essentially work with a million dollars of virtual currency. This can hinder your real-time trading mindset. However, a demo account does come with its own benefits.

• Novices can experience and learn Forex on risk-free grounds. Beginners seldom know the nuances of Forex; and a live trade will only force losses on them. Demo Trading Accounts help learn the basics of currency trading without being subjected to any risks.
• Professionals can make use of these accounts for testing strategies. Though many traders like to implement plans already existing, some traders go a step beyond and invest strategies on their own!
• Testing the broker quality can be done perfectly on a Demo Trading Account. You can gauge your broker's efficiency and see how dedicated he is to assisting you through trades, providing the necessary tips and how good the trading platform is!

How live accounts differ from demo platforms:

• Live trades enable emotion in you. On a demo platform, you have all the money you want and not a single risk to remind you of the many downfalls Forex has. When you trade in real-time, you feel the need to protect your capital from losses, and are powered by the confidence to win.
• Money management is something you learn best in a real trade. Here, few will have million dollars to risk; the normal trader will trade with an affordable sum. Unlike demoing, you can't go ham on these grounds! You will have to invest with care and ensure every loss is kept to a minimal.

Some traders might prefer demoing before going live, and that is definitely viable. So long as you don't get carried away by a demo platform's freedom, you can retain the good parts and ignore the bad. 

Get yourself an impeccably-developed trading platform, be it for live or demo trading, from WesternFX! We understand the complexities of Forex and realize how important brokerage is. Our professional Online Brokers In Indonesia will assist you through all your trades and ensure you learn just as well as you earn! Call us now and let's get started.

Live Forex Trading Vs Demo Trading Explained in Detail | Psychology

As a Forex trader, you will hear several professionals advising you to demo trade till you're skilled enough to participate in live ones. Practice being the first requirement in trading, makes demo trading seem indispensable. Real-time Forex trading in Indonesia is scarily volatile; traders lose thousands of dollars within minutes when not careful! To survive in a field like this, you need to be battle-hardened. While demo platforms do provide you with an environment to learn how trades function, they don't equip you to face the harsh environment of real-time exchanges.
 

Here are 3 reasons why demo accounts impact the live-trade mindset: 

Demo Trading vs Live Trading Account Psychology

1) Trading Real Money is a Different Experience: On a demo account, you can start off by trading a million dollars. These virtual platforms equip you with limitless capital to facilitate a practice experience without any bounds. This environment, however, turns out to be counter-productive. In a real-time Forex trade, you won't have a million dollars! Working with a maximum of a few thousand, you will have to play it safe and protect your capital. Forex demo trading will make you used to deal with unlimited capital, and when you move to live markets, working with bare minimum will take a heavy toll.
 

2) Live Trades House Unforgivable Volatility: The reason Forex trading is challenging is because winning despite of its immense volatility it truly difficult. To get accustomed to its erratic environment takes time. Only when you participate in trades can you learn the various nuances of this field, what is needed to achieve success, and how to succeed. Demo platforms will only equip you with the knowledge of trading platforms and basic trade movements. Practicing on Forex demo accounts and moving to a live-trade will leave you immensely unprepared and unequipped to deal with the vastly chaotic nature of each exchange!
 

3) There is No Fear of Losing in Demo Trades: What truly drives and guides a Forex trader to play it safe and protect his investment, is fear. The fear of losing money keeps a trader from investing unnecessarily. Demo accounts are designed to provide a risk-free environment, where there isn't an ounce of fear! Since these are practice platforms, traders have complete freedom over everything. When you start live trading, you will see the various ways money can be lost, in Forex. This is one of the biggest drawbacks of Forex demo trading; it doesn't equip you enough to deal with losses.
 

Foreign exchange might seem intimidating, especially if approached without practice, but it is an incredibly profitable venture! Aided by the right broker, seeing consistent success is easy. Call WesternFX today, and avail our world-class brokerage! With our experts by your side, even on Forex demo accounts you will learn the real-time implications. Master Forex trading in Indonesia today with us!