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7 Things to Know before You Start Forex Trading

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Before diving in, grasp these seven key concepts. This post breaks down the fundamentals of Forex trading, offering insights into the market's workings.

Interested in entering the Forex world?

Before diving in, grasp these seven key concepts. This post breaks down the fundamentals of Forex trading, offering insights into the market’s workings.

From defining Forex to tips on earning through currency trading, we’ve got you covered.

Whether you’re new to this, have been to a forex referral program, or seeking a quick refresher, read on for the essentials to kickstart your Forex journey.

Hopefully, it will help you out in the end.

1: Look for an Excellent Forex Broker 

When stepping into Forex trading, finding a reliable broker is key.

With numerous options available, it’s crucial to pick wisely. A good broker equips you with the essential platform and tools for successful currency trading, along with valuable guidance.

Look for a regulated broker with low spreads and quick execution speeds. Consider your trading style before making a choice.

2: Learn about the CPs You’ll Trade 

No matter what you are trading, it’s always important to be familiar with the currency pairs. It’s also known as the CPs and can hold the key to your success or failure in the forex market.

The most common options available here are known as the Majors. Some of these examples of it may include the following – EUR/USD and GBP/CHF.

The majors are more common and popular due to having decent price changes. However, if you want to make the most out of the market, you should also keep an eye on the minors.

Remember, each currency pair behaves differently and carries its own level of risk and volatility. Before trading a specific option, it’s essential to understand these factors. A good way to grasp the dynamics is by practicing on a demo account.

This is something you can create on almost any trading platform. So, be sure to make proper use of the same and get more information related to your potential working field.

3: Get Some Information about the Types of Orders 

When you trade Forex, you use various order types to buy or sell currencies. The most common one is a market order, where you trade at the current best price.

Another type is a limit order, letting you choose a specific price for buying or selling. Stop-loss orders are handy to minimize losses in a trade. Before making any trades, it’s crucial to grasp these order types and how they function.

4: Try to Be Aware of the Potential Risks 

Before diving into Forex trading, it’s crucial to grasp the associated risks.

The market is known for its rapid and unpredictable movements, requiring you to be ready for potential losses. Always try to use as much money as you can lose to trade in forex. If needed, I’d also suggest you use stop-loss orders to mitigate your risk of failing.

Also, keep in mind that the forex market operates 24/7, so be mindful of overnight fluctuations. Some opt to trade during specific hours to minimize exposure.

5: The Dealer will Control the Platform 

When you use electronic trading platforms, mobile apps, and dealer websites, you’re not directly linked to a live exchange. Instead, you connect to the dealer who manages the information displayed on your screen, including prices.

Some unregistered offshore dealers use well-known trading software to appear legitimate but may manipulate data to take advantage of customers. To ensure you’re observing genuine market price changes, cross-check prices with external sources.

6: Your Deposits Won’t be Protected 

Before you create an account in the forex market, don’t forget to carefully go through your a/c agreement. If you have any problem with understanding it, ask your broker beforehand.

Also, don’t forget to check the terms that you have to follow before withdrawing and depositing money. Find out the associated risks and fees regarding the same as well.

If a dealer disappears or goes bankrupt, there may be challenges in getting your money back.

Be cautious of fraudulent dealers who may try to stall withdrawals by demanding additional payments for undisclosed fees, taxes, or higher account-level status.

Remember, you shouldn’t have to pay extra to retrieve your money.

7: You Might Lose Your Margin 

In OTC forex trading, you can start and keep a position with a minimum amount called margin. The needed amount is based on how much the currency pair typically changes.

For example, with a 2 percent margin, you could start a $100,000 position with only $2,000 in your account. But be careful, because this high leverage boosts both gains and losses.

If the market moves against you, you may need to add more money to your account or end the trade. Plus, there’s a chance of extra losses beyond your first deposit.

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QiH Group’s first-ever CTO joins the London office, underpinning in-house tech talent

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QiH Group’s first-ever CTO joins the London office, underpinning in-house tech talent

 

Affiliate giant grows from strength to strength as the latest member of the C-suite team joins, bringing international B2B expertise to the iGaming sector

One of betting and gaming’s best-known power affiliate businesses, QiH Group, has announced the next steps in its ambitious, four-year growth plan: on Monday, the company welcomed Chief Technology Officer Sachin Saxena.

The new CTO is the latest member of the C-suite to head to QiH Group, joining recent appointee David Murphy as CMO – as well as Andrew Lee’s promotion to COO.

The CTO role will oversee technology initiatives, policies and integration with QiH Group’s strategic objectives. In his remit, Saxena will work with the company’s senior leadership, stakeholders, and cross-functional teams to transition previously outsourced functions and platforms to in-house talent.

The tech expert has previously held roles with digital health company Congenica as well as online legal platform Rocket Lawyer and fintech firm Dealogic.

Jamie Walters, QiH Group’s CEO, said that the rapid growth of the company has made hiring the right CTO a priority.

“Working in the affiliate space is as challenging as it is rewarding – mainly because of the fast-paced nature and how competitive our products have to be. Investing in a CTO was the best decision for us now, as our in-house tech talent blossoms and we require next-gen leadership to scale the tech stack quickly. Sachin’s software engineering,  development and leadership experience in the B2B sphere are excellent, and we’re so pleased to welcome him,” says Walters.

Saxena spoke about his move into the iGaming sphere in glowing terms, saying: “Whether it’s software engineering, information science or managing tech talent, I love using my background to benefit a new sector. I’m really excited about the move into betting and gaming, and I know that QiH Group will be the next new challenge for me as I oversee the migration and integration of platforms, as well as building a high-performing team who will enhance the firm’s abilities.”

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Casumo Renews its Partnership with NetRefer as its Affiliate Marketing Platform Provider

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Casumo Renews its Partnership with NetRefer as its Affiliate Marketing Platform Provider

 

Casumo, a multi-award-winning Online Casino and Sportsbook, has renewed its partnership with NetRefer, a leading affiliate marketing platform provider. The iGaming business is one of the most distinctive online casino and sports betting operators in Europe.

Founded in Sweden in 2012 and headquartered in Malta, Casumo is an innovative and mobile-first online gaming group. Over the years, the company has gone from strength to strength and today offers its products in several highly regulated markets including  Sweden, the United Kingdom, and other emerging markets worldwide. The iGaming company has been with NetRefer since its inception.

Casumo Services Limited hold licences in Malta, the United Kingdom, Sweden, Gibraltar, Ontario, and Spain. These licences are the backbone of their operations and regulate the company to maintain a safe and secure gambling environment.

Numerous features on Casumo’s platform offer players unique betting experiences. Reel Races are daily tournaments that let players compete with each other in real-time slots races for a chance to win cash prizes.

Everything players participate in at Casumo is part of a greater game. As members play their favourite online casino games, they also partake in an in-game adventure,  collecting points and getting rewarded as they level up.

To ensure players can log in fast and easily, Casumo developed their own Casumo App, which supports Fingerprint Login, TouchID, and FaceID. The Spotlight game search lets players look up all their favourite mobile slots while the Quick Launch gives instant access to the last played mobile slot games. Another unique feature allows players to minimise the mobile slot game by pinching the screen.

By creating a user-friendly, highly rewarding, and entertaining experience, Casumo has witnessed great success and growth, and its achievements have not gone unrecognised. Over the years, the iGaming company has won various awards in numerous categories from EGR, ICA, and IGA.

To support their players, they have a team of dedicated ambassadors who work around the clock with customer support. Over 300 employees work for the company in offices across Malta, Barcelona, and Gibraltar.

Casumo has a team of professionals available to assist individuals struggling with gambling issues and a dedicated website called casumocares.com. They help players control their gambling habits and set customised limits.

The Casumo Affiliation Team’s goal is to support their affiliate partners in a personal and helpful manner. They believe trust and transparency are key factors in building sustainable relationships. Affiliates can sign up for the affiliate program to receive their digital affiliate welcome pack.

Ivan Vuckovic, Growth Director at Casumo, expressed the company’s content with their partnership renewal. “NetRefer’s robust platform has provided a solid base for us to develop strong affiliate relationships and scale our business.”

“Casumo understands the importance of transparency with their affiliates to ensure long-term successful relationships,” Dexter Cutajar, CEO at NetRefer, claimed. “We are delighted to continue partnering with Casumo, with whom we share core values and a search for excellence.”

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BetPokies.org — Comprehensive Gambling Guide and Successful Affiliate Product 

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Created by John Gold in 2020, BetPokies.org proves its trustworthiness to Aussie readers, providing deep insights about online gambling in Australia
Created by John Gold in 2020, BetPokies.org proves its trustworthiness to Aussie readers, providing deep insights about online gambling in Australia

 

BetPokies is a leading online casino review platform for Aussie gamblers created by experienced gambler John Gold in 2020. The site is a perfect resource for those keen to dive into the world of online gambling but unsure where to begin or those who have already tried a lot and are looking for an improved experience. 

Thanks to BetPokies’s team of experts, the platform is full of valuable information about different gambling-related topics, from online casino reviews and payment method guides to a unique test that helps indicate the first signs of gambling addiction. All this is to help Aussie readers have the best gambling experience.

Why BetPokies.org Is a Trusted Source?

Back in 2020, John Gold founded the website as a platform where he shared his personal insights about online casinos that he had tried out. Not so long after, BetPokies (owned by ZehrMedia LTD) started gaining popularity among Aussie players, which led John to the idea of expanding the casino review platform into something bigger, which has now become an extensive guide. This allows readers to find all the necessary info on one website without the need to waste time searching for more reliable sources.

Four years after its foundation, BetPokies team consists of experts specializing in different fields: Poppy Bate, a casino review expert, Charles Morey, a payment method expert, Alicia Want, a content expert, Andrew Kiss, a tech expert, and over 10 manual testers. 

John Gold explains the reasoning behind such a choice of team members: “I personally believe that one person cannot be an expert in different fields. That’s why I’ve decided to hire people who have knowledge in different spheres so that our readers can get the most relevant and expert information.”

How BetPokies.org Rates Online Casinos?

Having over 10 years of experience, John Gold knows how hard it is to find honest and unbiased casino reviews. This is one of the reasons he created BetPokies. The team of the platform researches gambling sites thoroughly to find all the important details and even hidden pitfalls. 

  • Poppy Bate, the casino review expert from BetPokies verifies the availability and validity of the license. She gives extra points to those casinos with certifications from eCOGRA and iTechLab, which she personally contacts to learn more information about insights the testing agencies got about each casino site.
  • When it comes to banking, Charles Morey starts his research, he tests the payment methods offered at the gambling website by setting test deposits and withdrawals. His aim is to ensure there are no hidden taxes or other unpleasant surprises. Often, this approach allows BetPokiesto find out about hidden pitfalls other casino review sites do not talk about.
  • Manual testers of betpokies.org gamble at online casinos, ensuring the games are not rogued and that the provided RTP is realistic. 

These are the most essential aspects of online casinos verified by BetPokies. However, they also check customer care, terms and conditions, and site’s usability, and research gambling portals to find other gamblers’ reviews and more. This allows the team of experts to provide informative and helpful online casino reviews to Aussie readers.

How BetPokies Сomplises the Blacklist of Online Casinos

Unfortunately, gambling is not only fun but also risky. The team of BetPokies takes the safety of its readers seriously. John Gold, the website’s editor-in-chief and an experienced gambler, decided to take the responsibility of explaining the risks to himself and created the “Blacklisted Casinos” guide.

“We’ve published dozens of guides and casino reviews on our website, recommending safe and trusted online casinos and mentioning the importance of responsible play and tips for choosing a safe casino in each of them. However, over time, I realized it was not enough. I decided to do in-depth research about rogue and other dangerous sites to gamble to provide our readers with the most necessary information on that matter, saving their personal and banking information, as well as their mental state.”

Each site that made a cooperation offer to BetPokies but didn’t pass the thorough verification of its experts is going to the blacklist. However, John Gold shared his plans for the nearest future about expanding the list: “I release we can’t check and blacklist every dangerous online casino out there. Therefore, we decided to use the help of our readers. Pretty soon, we will create a form where gamblers can share their complaints about a particular gambling site with proof of it being unsafe. Then, Poppy Bate will test the website herself, do more research, and if it turns out dangerous we will put it on our blacklist!”

 

Casino Category Guides from John Gold

For Aussie gamblers not to get confused by the variety of information provided by BetPokies.org, John Gold decided to write extensive casino category guides, such as new online casinos, real money casinos, minimum deposit casinos, and more!

 

There, he features important aspects about each of them, providing all relevant and useful information. There, readers can find different comparison tables, tips on how to choose online casinos of different types, and recommendations regarding how to gamble there. Charles Morey, a financial expert, adds insights about payment methods to choose from when choosing games at every casino. This way, joining efforts, they offer Aussies all-covering guides, which allow them to avoid looking for other sites.

 

Essentially, during the history of its existence, BetPokies.org became an integral part of the Australian online casino review market, offering invaluable and unique insights on online gambling. If you are interested in cooperation with BetPokies, please contact [email protected]

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European Gaming Congress 2024 (Warsaw, Poland)

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