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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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MightyTips launches snappy Football Tips format for casual and pro bettors alike

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MightyTips launches snappy Football Tips format for casual and pro bettors alike

 

MightyTips unveils a major product update — Football Tips, a dynamic new feature that delivers fast, curated football betting advice tailored for today’s users.

MightyTips is a leading platform dedicated to helping sports bettors make smarter decisions through in-depth sportsbook reviews, up-to-date bonus offers, expert betting blogs, and insightful match previews. While offering a wide range of content for bettors at all levels, the platform’s core focus has always been on delivering accurate predictions empowering users to place educated bets.

But as digital habits shift and the need for actionable insights grows, the platform is stepping into a new chapter. Football Tips are built to meet users where they are — with lighter, faster, and more personalised content that enhances the betting experience.

Ivo Osis, Product Owner at MightyTips, said: “This launch represents a major evolution in how MightyTips serves its audience. With Football Tips, we’re opening up our platform to casual and pro bettors alike, providing smarter insights in a more scalable format, driven to improve user experience and frictionless journey through the world of football betting.”

Key features of Football Tips:

  • Match of the Day highlight – instantly find the most important game to bet on, hand-selected by expert analysts
  • Quick match briefs – save time with short, insightful tips written by trusted football authors
  • Tipsters’ stats on every tip – check each tipster’s accuracy to build transparency and trust
  • My Saved Choice feature – save favourite tips and revisit them anytime
  • More matches, more options – explore tips beyond just predictions and expect other sports coming soon, such as tennis and cricket
  • Easy navigation by tip type – find exactly what you’re looking for, whether it’s 1X2, BTTS, or Over/Under tips, all one click away

This new format enhances usability, increases engagement, and broadens access to MightyTips’ expert content. It’s part of a wider strategy to modernise content delivery across sports and improve the overall user journey

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Mikael Strunge is appointed as the new President and CEO of ACROUD

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Mikael Strunge is appointed as the new President and CEO of ACROUD

 

The board of directors of ACROUD AB has appointed Mikael Strunge as the new President and CEO of Acroud. Mikael Strunge, born in 1981, has worked within Acroud for four years in various roles in different parts of the company, most recently as COO. Mikael Strunge succeeds Robert Andersson.

“On behalf of the Board, I would like to thank Robert Andersson for his leadership and contributions over the past years. We are pleased to appoint Mikael Strunge as our new President and CEO. Mikael brings deep operational insight and a clear strategic vision, and we are confident that under his leadership, Acroud will enter its next phase of growth and innovation”, says Morten Marcussen, Chairman of Acroud.

“The last 4 years at Acroud has been a rollercoaster of emotions and results. I am proud to accept this appointment from the board and look forward to start the implementation of the company’s new strategic framework”, says Mikael Strunge, new President and CEO of Acroud.

Biography of Mikael Strunge

Mikael Strunge is 44 years old and has worked within Acroud for over four years, most recently as COO of Acroud, being responsible for the day-to-day management and operational activities of Acroud. Before that, Mikael was the CEO of PMG before PMG was acquired by Acroud.

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ReferOn Launches Three Powerful New Features for Smarter Affiliate Management

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ReferOn Launches Three Powerful New Features for Smarter Affiliate Management

 

ReferOn, the next-gen affiliate management system, has introduced three major features aimed at making affiliate operations faster, smoother and more scalable than ever.

The latest updates, including Async task tracking, affiliate-controlled postbacks and bulk payment generation, reflect ReferOn’s ongoing commitment to removing friction and empowering users with practical and efficient tools.

  • Async Tasks: Say goodbye to frozen screens, slow loading and laggy sessions. The new system handles background-heavy processes such as bulk payments asynchronously (and with real-time tracking). This ensures smoother overall performance where users can monitor complex actions without overloading their session.
  • Affiliate-Controlled Postbacks: Affiliates can now manage their own postback setup directly in the platform (when enabled by their manager). No more tickets, long email threads or tedious back-and-forth communication. Campaigns go live faster and everyone moves more efficiently and with less delay.
  • Bulk Payment Generation: One of the more repetitive recurring workflows for users just became radically more efficient (and easy). Users can now generate payments for multiple partners in bulk with just a few clicks, freeing up time for higher-impact work.

Vladyslav Bondarenko, ReferOn’s Head of Product, commented on the new features, “At ReferOn, we design for scale, efficiency and performance. These new features are more than simple improvements, they represent the foundations of a more autonomous, convenient and resilient system. We’re about empowering both operators and affiliates, and we’ve done that by providing self-service and streamlined tools to keep control in their hands. The ReferOn team continues to deliver on our promise of user empowerment without complexity.”

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