I want to be a online forex trader, but i don’t know which online forex broker is so trustful & reliable? But specially i need CANADIAN forex Broker. If anyone help me to give this info, i will be grateful to him/her. Please give me some of CANADIAN forex brokers name…………..

These comparison and review sites should be of some help to you:

http://canadianonlinebrokers.org/

http://www.forextraders.com/forex-broker-canada.html

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I have seen forex brokers ratings and reviews in India. who is most recomended broker in India?

Of all the forex brokers I have traded in India,Nordfxis the best broker.I like Nord fx bonus facility- provide bonus same day,Good execution and fast withdrawls without any problems.Withdrawls through money booker is faster and economical than alertpay.Real & easy platform offered.
Must Recommend Nordfx .Try once

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also which forex instruments can an Indian Individual use or trade in?
hi are there any Non banking finance cos who offer trade in forex and are also approved by RBI, certain blogs mention FXcentral to be one such company, are there any others?

Well there are lots of Forex strategies here http://tinyurl.com/3tcla4v and if you want to use any of those strategies just click the "open account" button at the top and it has 40 or so brokers. If no brokers in that list will work in India, then I’d want to say that probably there are none…

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I am doing a research on forex trading so please give relevant answers? thanks

Both are different. If a Trader member of Exchange desires to trade in Foreign Exchange he has to obtain RBI clearance and Foreign Exchange Dealers Association.

A Dealer in Foreign Exchange need not be a member of Stock Exchange.It is a different Trade altogether.

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I am an Indian resident.I am in to online forex trading with a foriegn broker. Say if I have a profit of 1 crore in the forex account abroad.Do I need to pay tax in India for that 1 crore? or If I transfer 20 lakh to my Indian savings bank account in a financial year from the forex account abroad, What will be my taxable income ?? 1 crore or 20 lakh ??

Say in different way:: If you eput 100 USD onto forex account and after a trade you decided to pay out 90 USD from your forex account you did not earn any extra money (you did not generate any profit). No profir= no tax. But if you used this same amount of money (100 dollars) and you earned 200 and you decided to pay out 200 and you left on forex account your 100 still, you should pay tax, because if you got more money that you paid in – this is your income. If you had 100 USD on forex account and now you have 101 it means you earned 1 USD and you must pay tax from 1 USD in your country after transfering money to a bank. If your country takes 30% tax from the income you should pay 30 cents tax. But I think money on the forex account is safe – as long as you have the money there – you can treat it as your investment (not as loss or income). The income is when you take more money out of the account. Is that logic? Be careful. Some governments may wish to take your money (as a tax) even when you did not finished your trade (for example tax from each plus transaction you finished on forex – but this is unfair -when the money is still in trade they are not allowed to take any money from you. Forex is not like a shop where you generate profit with each sale. Forex is like a bank – bank counts tax as a yearly income from your earning multiplied by days. In forex nothing is stable and not all transactions will be profitable. Therefore governements should not be allowed to ask for any money when the money is on the forex account (even if you earned 1000USD). Example : I have done trade on forex and opened many short transactions. Everything was good and I secured them by opposite long transactions. For month I invested 12000 pounds and my profit was 3000-5000 pounds. But this money was still invested. One day I was not carefull and I was bored with the situation and decided to unblock some of the secure transactions to make big profit quick. But only because I unblocked to many opposite transactions – my balance soon was ruined and I have lost all. (I was not pacient enough). No country can ask me for a tax because there was not profit at the ened. But also for example one month earlier they were not entitled to ask for the tax when the transactions has been opened still. I am not shure how is in your country. Be carefull.

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I am new at Forex trading, but there are a lot of Forex brokers out there to choose from.
I am looking for a Forex broker that is trustworthy to trade with.

Thanks

There are so many forex broker companies and so many features to take into account that it seems difficult and confusing for beginners forex traders to choose a forex broker company, which fits their trading needs. If you search in Google, you will find many websites that compare forex brokers but you will find out that there are a lot of controversial reviews and comments. For example you may read a comment for a broker which will say that it is the best company there is and then another one that it says that the same company is a scam.

The first thing you should check is if the broker is regulated by an official organization and then when you exclude those that are not regulated you should decide what type of forex broker you will choose.

The two main types are Market Makers (MM) and ECN (Electronic Communication Network).

Below are the advantages and disadvantages of each type.
Market Makers (ΜΜ)

Market makers act as a middle man between you and the ECN. They have a fixed spread (with the exception of extremely volatility moments like news releases) and they make money from the difference of the spreads that they offer you and the smaller spreads that they get from the market and the ECN. They do not charge you with fees since they make their profits from the spreads.
Advantages of Market Makers (ΜΜ)

- A plethora of charts and technical analysis tools

- User friendly platform, easy for beginners

- Free news feed

- Most of them offer a mini or even micro forex trading account. (this means that you could open an account even with a few hundred dollars)
Disadvantages of Market Makers (ΜΜ)

- They may trade against you (The majority of MM use hedging to counter your position so you have nothing to fear but there are some small ones that take the opposite position to your trades which leads to a conflict of interest between you and your forex broker)

-Some of them do not allow scalping or making many trades in a short time of the day

- Slippage: you may not get the displayed price if they cannot match it on the ECN (slippage can be huge during news announcements)

- Prices are usually not as good as ECNs.
ECN Brokers

ECN companies run a huge online network that brings together prices supplied by all kinds of traders, from banks and financial institutions to retail traders and even other broker companies like the Market Makers. There is no fixed spread but there are bid and ask prices which are displayed in their forex trading platform. The spread depends on what others traders are offering. For very liquid pairs like EUR/USD and USD/JPY there could be zero spread during times of high trading volume. ECN brokers do not earn money from the spread, instead they charge a commission or fee on each transaction or on an amount of trading volume
Advantages of ECNs

- Best prices

- Better for scalpers and day traders, since they normally do not object to scalping and day trading

- Less slippage during news releases and moments of high trading volume

- Best prices
Disadvantages of ECNs

- They may not offer so many charts, indicators and news notifications

- Variable spreads makes it harder to estimate your risk and profit when setting stop losses and profit targets.

- Trading platforms are not user friendly

-Minimum deposits are too high for the beginners

-You may have to pay for charting services

To sum up: ECNs are chosen by most professional traders but they are probably not the best choice for the beginners since minimum deposits are too high and it is not easy to use their trading platforms (at least in the start) but if you start making consistent profits and becoming a professional forex trader it is advisable to open an account in an ECN broker and take advantage of all the benefits. Market makers are probably the best choice for beginners since even someone who knows nothing about online trading platforms could start trading after some minutes and additionally you can open an account only with a few dollars. Before you choose any forex broker company and start trading with real money you should first open a demo forex account and test the trading platform of the forex broker in the markets conditions but without risking your money.

http://www.opportunitiesplanet.com/forex-trading/choosing-the-right-forex-broker-company/

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I have a fiar bit of experience trading forex. I decided to change my broker because their platforms kept freezing up. (OANDA)

I am finding that even the best brokers only rate in the 63rd percentile for satisfaction.
Someone is using a great forex broker somewhere. Does anyone know who that great
broker or brokers is/are for small accounts? Thanks

Dukascopy is the best broker i know. Bur their minimum account limit is $1000 (if im not wrong).

If you dont have that money, you can try FXCM as others suggested, or IGmarkets – which i personally tried and it was a good experience.

Good luck.

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If you are a beginner etorro, if you have experience Dukascopy. Watch out for Market Makers (MM’s) who try to make money from you loosing and so bet against you.

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I want to start trade the forex, but i’ve noticed there are several trading brokers/platforms. Can you please tell me which ones are the best to use and why? And more importantly, your experience with your choice.

If you are looking for the best forex software, use this software

http://bestautoforexsoftware.info

This software is the best software that can help increase your trading profit

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My friend has opened an account with a Forex broker and invested about $20,000 in and given his password to the broker to dead. It’s about a year now and his investment has come down to 12,000.
The broker committed to share the profit and loss of the investment.
My friend didn’t research much before the investment and still undecided what to do with his investment. The broker now a days doesn’t receive his phone.
I would appreciate if someone has some advice for my friend. Thanks.

I am trying to learn some about Forex trading also. I found this site, which may be helpful.

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