Whether you are a newbie or an experienced forex trader, it is important to continuously analyze and be updated on everything about forex trading as it is an important aspect to make informed decisions when buying or selling currencies. One way investors do this is to hire or consult the services of a broker or a brokerage company as they provide you with the information you require to make a wise trade.
ForextTime or FXTM is one of the best next gen players in the forex trading landscape. Looking into the fxtm review, ForexTime, although relatively new, has quickly build their reputation and established their name in the forex market. The company which was created in 2011 by Andrey Dashin, a seasoned trader in the industry, offers other traders what they require and want to make forex trading easier and profitable. They also provide distinctive products and services that separate them from other brokerage company.
From the fxtm review, you’d see that the company serves both newbie and seasoned traders and provide them with an overall experience that is positive and promising. Additionally, while their products and services aren’t that as extensive as others, their platform doesn’t restrict the users from maximizing the services and products they offer.
Forex Trading – Is It Profitable?
“Is forex trading profitable?” This question is commonly asked by individuals considering investing in the forex market. But, so as to be profitable, one has to be familiar with the several strategies to be able to be effective and successful in the market. Moreover, it is imperative for all forex traders to be aware of and have a clear understanding of the factors that fuels the market as well as know how to capably manage risks.
What Affects the Forex Market?
The forex market involves money and money is closely tied to the economy, hence there are economic factors that directly affect the movement of money in the market. You as trader/investor have to bear in mind these economic factors to ensure you are able to profit more and manage risks that come along with the investment. Let’s have a look at several of these factors:
- Gross Domestic Product (GDP). This is the volume/measurement of services and goods that were finished in certain span of time. There are four categories under the GDP – business spending, government spending, private consumption and total net exports.
- Rate of Interest. In the forex market, this is a key factor that traders/investors flash a spotlight on. As central banks dictate monetary supply and policy, they are the primary focus not only of traders/investors but in different markets as well.
- Employment Data. Solid drops in employment denote a contradicting economy, whereas solid employment growths are recognized as signs that the economy is doing well.
- Retail Sales. This is the sales measurement registered by retailers in a certain span of time which would show either an increase or decrease in consumer spending, depending on the previous data.