News

7 Things to Know before You Start Forex Trading

Published

1 year ago

January 22, 2024

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.

Related Topics:forex referral program OTC forex trading

Up Next

ReferOn Strengthens Team with New B2B Sales Manager

Don't Miss

Spotlight on Content: Casino Reviews

Click to comment

Conferences

New Sponsorship Opportunities Announced for the EEGS Affiliate Conference

Published

5 days ago

July 10, 2025

George Miller

New Sponsorship Opportunities Announced for the EEGS Affiliate Conference

The EEGS Affiliate Conference, now in its 4th edition, is pleased to announce the launch of new sponsorship opportunities. As the region’s only event dedicated exclusively to affiliates, this conference serves as a vital platform for industry professionals, brands, and affiliates to network, share insights, and drive growth.

Part of the prestigious Eastern European Gaming Summit (EEGS), the Affiliate Conference will take place in Sofia, Bulgaria, on the 25th of November. This event continues to grow as an essential opportunity for those seeking to expand their presence and influence within the affiliate marketing ecosystem.

The new sponsorship packages are thoughtfully designed to provide maximum visibility, targeted exposure, and valuable engagement opportunities for partners looking to connect with a focused and dynamic audience.

Bronze Sponsorship
Silver Sponsorship
Gold Sponsorship
Platinum Sponsorship
Fun Mirror Sponsorship

For more information, please click HERE or visit EEGS website https://eegamingsummit.com/

If you have any questions or would like to discuss customized opportunities, reach out to the organizers at [email protected]

The EEGS Affiliate Conference eagerly anticipates welcoming new partners and making this 4th edition in Sofia the most successful yet.

Affiliate Program News

Let’sBet Partners with NetRefer for its Affiliate Marketing Platform

Published

7 days ago

July 8, 2025

George Miller

Let’sBet Partners with NetRefer for its Affiliate Marketing Platform

Emerging US sportsbook operator Let’sBet has partnered with NetRefer, the industry’s leading data-driven, AI-powered affiliate marketing platform, to support the launch and long-term growth of its affiliate programme.

Headquartered in Maryland, USA, Let’sBet is a dynamic new entrant to the regulated US betting market. Built with a player-first mindset, the operator delivers a seamless sports betting experience across all major US and international events – including the NBA, UFC, UEFA Euro Cup and Formula 1– via a mobile-optimised platform designed for both desktop and on-the-go bettors. The brand also offers extensive live and in-play betting options, keeping users engaged in real time.

New players are welcomed with a 100% deposit bonus, and frequent bettors can look forward to being handpicked for the Let’sBet VIP Club – a tiered programme offering access to personal account managers, dedicated promotions, express payouts, and exclusive VIP events such as race days and hospitality experiences.

Licensed by the Maryland State Lottery and Gaming Control Agency and operated jointly by Veterans Services Corporation and Bee-Fee Limited, Let’sBet is committed to delivering a secure, compliant, and intuitive betting environment. Its infrastructure is monitored 24/7 by a dedicated Information Security team, with robust measures in place to protect data and ensure safe, frictionless transactions.

Let’sBet also maintains a strong commitment to Responsible Gambling. Its platform is equipped with a comprehensive suite of player protection tools, including deposit, wager, loss, session, and single-bet limits; timeout periods; and voluntary self-exclusion through Maryland’s state-run programme. These tools are supported by a customer service team trained to guide users toward healthy betting behaviours.

Marcin Doszczeczko, Director of Sports Betting Operations at Let’sBet, commented: “Choosing NetRefer as our affiliate platform provider was a natural step in building Let’sBet into a standout name in the US sports betting market. Their technology gives us the clarity and scalability we need to launch a high-impact programme from day one. It brings together everything we need to grow a successful affiliate operation – clear reporting through ASR 1.0 API and smart, actionable insights from NetRefer CoPilot AI. Just as we’ve built Let’sBet around trust, service, and user experience, we see those same values reflected in NetRefer’s platform and team. We’re excited to grow this partnership together.”

Amanda Camenzuli, Manager of NetRefer’s Account Management team, added: “We’re thrilled to welcome Let’sBet to NetRefer. They’re an operator that blends innovation with a strong sense of player responsibility, they’re exactly the kind of forward-thinking company we’re proud to support. With a growing footprint in the US market, Let’sBet will benefit from our platform’s ability to deliver real-time insights, data clarity, and the flexibility needed to scale sustainably – while also strengthening NetRefer’s presence in this key region.”

This collaboration marks a significant step forward for both companies, combining the momentum of Let’sBet in the US market with NetRefer’s 20 years of experience in affiliate marketing technology. Together, they aim to build a programme defined by transparency, performance, and long-term growth.

Affiliate Success

Casino Guru secures Safer Gambling Initiative of the Year at iGB Affiliate Awards

Published

1 week ago

July 7, 2025

George Miller

Casino Guru secures Safer Gambling Initiative of the Year at iGB Affiliate Awards

Casino Guru is proud to announce that it has won the Safer Gambling Initiative of the Year at the iGB Affiliate Awards 2025, for a third consecutive year.

The distinction further highlights the company’s commitment to building a sustainable future for the gambling industry, not only through its dedication to providing players with the most complete, real-time-updated database of online casinos curated by trained experts, but also through its efforts to influence business standards and responsible practices across the sector.

As a leader in informed play, Casino Guru has dedicated a significant portion of its time and efforts to building a casino database that uses safer gambling as one of its core metrics for assessing a brand’s reliability, sustainability, and treatment of customers.

Casino Guru’s Head of Sustainable and Safer Gambling, Šimon Vincze, was excited to share his appreciation for the award: “As someone closely involved in responsible gambling and safer play at Casino Guru, I can say this award is a true testament to our work. We’ve worked tirelessly to leverage our market position to produce tangible outcomes in terms of awareness and impact of safer gambling practices, player complaints, and the availability of blocking software. We are a trailblazer in safer gambling among affiliates, but collaboration with other like-minded companies has enabled us to stay at the forefront.”

Casino Guru could not be prouder of this moment, which once again reinforces the company’s leadership in helping to set safer gambling standards industry-wide.

Daniela Sliva, Public Relations and Creative Projects Director, commented on the distinction: “Winning the Safer Gambling Initiative of the Year for a third consecutive time was an emotional moment and a well-deserved one. Casino Guru has worked tirelessly to establish itself as a leader in promoting sustainable and responsible play. We truly believe we are setting new standards for responsible gambling, not just within the affiliate space, but across the wider industry. Our company ethos places safer gambling at the heart of everything we do, from our Complaint Resolution Center to the Safety Index, and especially through initiatives like the Casino Guru Awards, which further reinforce this commitment.”

Among the achievements that Casino Guru has to be proud of are the Casino Guru Awards, which have established clear competitive guidelines for safer and responsible gambling and distinguish companies that adhere to the Casino Guru’s ethical guidelines and best practices.

Furthermore, Casino Guru established the Gamtegrity platform, which reunites all of the company’s safer gambling projects in one place.

Among Casino Guru’s notable achievements are the Casino Guru Academy, which offers upskilling programs with a focus on responsible gambling, the Global Self-Exclusion Standards Initiative, an active list of partners with some of the leaders in the responsible gambling space, including Mindway AI, and much more.

“An industry-wide commitment to responsible gambling is not only possible: it’s within reach. Casino Guru’s achievement at the iGB Affiliate Awards 2025 is yet another reason for us to double down on our efforts and work even harder to make this vision a reality,” Silva concluded.