Showing posts with label Forex trading. Show all posts
Showing posts with label Forex trading. Show all posts

Wednesday, January 7, 2009

Forex Trading, What Hours Should I Be Ready For Trading?

Once you have decided to enter the Forex trading world you will find that FX trading has many advantages over other capital markets. Including among others; very low margins, free are trading platforms, high leverage and around-the-clock trading.

It is my main concern in this article to let you know what hours you should be ready and focus for start trading, so you can expect the highest profits in your trades, and not just consider that around-the-clock trading means you should randomly trade through out the day. In short, it is important to know what the best hours to trade are because if you want to find an appreciable number of profitable trades you need to enter the forex market at the best period of time, i.e., when the activity, the volume of transactions, is the highest. At any given time; somebody, somewhere in the world is buying and selling currencies. As one market closes, another market opens.

Business hours overlap, and the exchange continues as day becomes night and night becomes day. Giving you 5.5 entire potential trading days. Forex Trading begins in New Zealand at Sunday 5pm EST, and then is followed by Australia, Asia, the Middle East, Europe, and America in this order and through out the day and through out the week until Friday 4pm EST when the American market closes. Other important facts every Forex trader should know are: the US & UK markets account for more than 50% of the forex market transactions; Forex major markets are: London, New York and Tokyo. Nearly two-thirds of NY activity occurs in the morning hours while European markets are open. And maybe one of the most important characteristics; Forex Trading activity is heaviest when major markets overlap. So, the answer to the question; "What hours should I be trading?" is dictated by this last characteristic, you should trade when the major markets overlap. Now, when do they overlap?. Considering the different time zones of the world and open and close times for Australian, New Zealand, Japan, America and Europe markets. We can arrive to the conclusion that there are two major time gaps when two of the major markets overlap during trading hours.

[Claim Your Bonus In ForexGen]

Special Promotion for New Clients

Free cash bonus when you open your new live account withen the next 30 days. You will recieve a FREE cash bonus which will be added to your trading account. The cash bonus depends on the account type you open.

Account Type
Mini Account

Free Cash Bonus

10% of your deposit
maximum $250

Account Type
Standard Account

Free Cash Bonus

10% of your deposit
maximum $500

To be able to withdraw your free cash bonus, you need at least to open 20 trading lots in period not exceeds 3 months.For more information about our current and future promotions, contact one of our [customers support] agents at promotions@forexgen.com

Personal Opinion in Forex Trading for Beginner Forex Traders

Forex trading requires own opinion, cannot just rely on the Forex experts.

We do not mean that we should not believe in the Forex experts. To the Forex expert's opinion, we should have an objective manner. Forex expert is also a human being, they could also make mistake. We can refer to the Forex expert's opinions but we must also go through own analysis. This issue is very important to beginners of Forex trading. A lot of people believe in the Forex expert's opinions extremely. Today if a Forex expert said that, some currency technical chart is extremely good and it must rise, how could a Forex trader miss this opportunity of making money? Hurries to buy. After buying it, the Forex trader also saw another Forex expert said the fundamental analysis of this currency is not strong, the probability of falling is very high. Since this Forex expert does not favor this currency, so it will not be wrong, to prevent any lost Forex traders will often settle all the positions. This kind of Forex trader has no personal opinion, basically those who believe in the Forex experts extremely will only lost money in the end. Forex traders can be divided into 2 groups. The first group is the beginner of the Forex market. This group of Forex traders know nothing about both technical and fundamental analysis, so the probability of making profit is smaller, without any own opinion, the only choice is to follow the expert's opinions blindly.

The second group of Forex traders have consist knowledge of both fundamental and technical analysis for period of time. But as a result of a few big faults, they have made a very big lost, and causes the minds of these Forex traders are often confuse. Even though, after several repeated analysis, in the end they decided to follow the Forex expert's opinions. It doesn’t not mean that we should not listen to the Forex experts, the most important thing is that we also must have our own opinions. Of course, such opinions do not come automatically. Otherwise such opinion is blind, a Forex trader must spend time and effort to slowly develop a suitable analysis method and skills. If not, such opinion is blind and it would be much more dangerous to follow expert's opinion. Some people argued that they just entered the foreign exchange market, and know nothing about the fundamental and technical analysis, without any personal analysis method and skills, what should they do? Here, we do not oppose such Forex traders to follow the Forex expert's opinions. Beginner Forex trader should choose a right Forex expert and do not ever change the Forex experts often, or else will loss money in the end. Every Forex expert has different opinions, some trade short term, some trade long term. No matter his or her suggestion is correct or is wrong, at long as his or her analysis mentality is coherent at most, even sometimes it is wrong, but the overall probability of profit making is still bigger.

For instance, follows the expert A to say today may buy up some kind of currency, his trading mentality is long term based, supposes his judgment analysis is correct, and then you buy up this kind of currency to make a long term transaction. If all in a sudden you follow the expert B's opinion to trade, saying the currency shall fall, in fact he is the short term based trader, any rise currency can fall, therefore the expert said the trend will fall is also correct. If you follow the expert B's suggestion, and settle the position to stop loss. Such trading skill in the end is totally wrong.

Since two experts said have not been all wrong, why did we loss money? This is the result of mentality transaction. Since a Forex trader followed the expert A's suggestion, bought up for long term, then the trading skill should be long term, if all in a sudden a Forex trader listened to expert B, and convert to short term trading, in the end losing money is no surprise.


ForexGen offers three types of business partnerships:

*Introducing Broker *White label *Money Manager

ForexGen Introducing Brokers, White Label and Money Manager holders are recognized as a strategic business partners. The main focus of our service is to satisfy our partner's needs in order to deal with a qualified service and gain a huge income sharing plan.

[ForexGen] provide appropriate services satisfying the needs of all business partner's specified situation and requirements.

What beginners need to know about Forex trading?


Being new to FOREX trading?

Don’t worry, getting started in FOREX trading is easy and you can always test your skills first in a demo account before you go ‘live’ with real money.
To get started in FOREX trading, we have to get to know what FOREX is. FOREX trading involves buying and selling the different currencies of the world. Buying one currency and selling another at the same time make a FOREX deal.

FOREX market is the largest trading market in the world. It yields an average turnover of $1.9 trillion daily and the figure is nearly 30 times larger than the total volume of equity trades in United States.

[ForexGen Live Accounts Contest]

Trade, Compete, and Win - Begins the 1st of Every Month!
ForexGen has the pleasure to announce the launching of its first monthly Live Accounts contest,
This is NOT a demo contest

this is a live trading [competition] open for all live mini account holders. At the beginning of each month, the slate is wiped clean and traders have a new opportunity to win the monthly prizes.

What makes this contest unique?


All prizes are CASH prizes with no restrictions on withdrawing the prize money! How Do I Enter?
You don't have to pay any fee to enter this contest, all [ForexGen] mini Accounts with a balance of "$1000" and a default leverage of 1:200 are entitled to participate in this contest upon their account holder request by sending an e-mail request on live.contest@forexgen.com

For more information about our current and future promotions, kindly contact one of our customers support agents at promotions@forexgen.com

Thursday, January 1, 2009

The Advantages Of Automated Forex Trading:

An increasing number of people are being drawn to Forex trading in preference to the many other forms of investment available today and it is not hard to see why.

The Forex market is the largest trading market in the world with a steadily growing trading volume which has risen from some $500 billion dollars to $2 trillion in the last twenty years. It is also an incredibly liquid market which is not tied to any particular trading floor and operates around the clock across the world making it effectively a permanently open market. As one market closes another is opening and you can effectively follow the markets around the world as you trade and even all but eliminate the fact that the market in your home country will close for the weekend.
It is no wonder therefore that Forex trading attracts a wide and growing variety of both big and small traders each of whom enjoys a wide choice of trading strategies based upon the myriad of factors which affect foreign exchange rates. For many traders coming into the market it is the fact that there are so many different things that affect currency exchange rates which they find most attractive as it allows them to use a huge range of different tools when working in this extraordinarily exciting market.
Perhaps the greatest influence today however on the future growth of the market and its popularity lies in automation which has never been easier to accomplish and which brings with it many more advantages than disadvantages.

Automated Forex trading allows trades to be conducted in real time anywhere in the world and virtually eliminates the losses so often seen in manual systems which are trying to operate in such a fast moving and volatile environment. Anyone who has traded using a manual system will know only too well the frustration of a row of losses caused by nothing more than a simple time delay in buying and selling and will appreciate the value of automated currency trading.
Automatic Forex trading also brings with it the ability to operate in a wide range of different currency markets at the same time without any regard for the time zones of the markets concerned. If you are sitting in the United States at 2 o'clock in the morning then automatic trading allows you to conduct business with traders on the other side of the globe in several different countries all at the same time with ease.

One problem for many traders is that of risk management and this too is reduced as we move to automatic Forex trading. Manual systems often leave traders nervous about whether or not payment will be made after the completion of a trade but as payments can now be synchronized in real time this is far less likely. Indeed, as the automated trading system continues to develop it is clear that the settlement system will also be updated and such risks are likely to be all but eliminated in the near future.


ForexGen Scalping Enabled Account

Trade and scalp the market [ForexGen] has the pleasure to announce the availability of both Dealing Desk and No Dealing Desk Platforms. No Dealing option provide traders with direct access to the best bid/ask prices through multiple bank access. No re-quotes & No dealer confirmation is the main characteristic of the no dealing option made specifically for “scalpers” and active FX professionals. Absolute freedom to trade during news and economic events. The no dealing desk option allows traders to place entry orders inside the spread! Unlike competing FX firms, [ForexGen offers] traders all the advantage of a “no dealing desk” option.

Advantages of No Dealing Desk Option

* Trade the news without intervention or restrictions * Although spreads may vary in volatile market conditions, they are tried to be kept within the usually limits. * Place scalping orders without intervention or restrictions. * A client-friendly trading environment, No re-quotes. * Ability to place orders inside the spread * Competing rates from multiple banks * Spreads are variable and can move sharply * Ideal for active or professional FX traders

For more information about our current and future promotions, kindly visit this page often or contact one of our customers support agents at promotions@forexgen.com

Learn Forex Trading Online And Get Ahead Of The Game:

Today's business world is highly complex and it is vital to know your way around.

As far as Forex trading in concerned this means knowing the players, the market and the stakes. You have to be familiar with such things as the value of the currency that you are trading, the factors which increase and decrease the value of your currency and trading strategies and market trends.

As a novice this also means that you have to begin with some type of Forex education. A Forex trading course will teach you all about predicting and charting movements of the market together with the best time to purchase or sell a commodity and will introduce you to basic terminology and the trading process.
As Forex trading is done in real time and decisions often must be made quickly, a trader should also be emotionally prepared to cope with the stress, challenges and demands of the marketplace and these too will be included in any good Forex trading course.
So precisely what should you look for when selecting a Forex training course?
All Forex training courses should include the basics on such things as types of orders, leverage and margins which are essential in Forex transactions. It also needs to teach basic terminologies, analysis and software.
Analysis is fundamental to successful trading and any Forex course must look in reasonable detail at both technical and fundamental analysis including the tools used and the pros and cons of each.

However the basics and theories of foreign currency trading are not enough and good Forex course should also teach you correct money management and the development of a good trading psychology and disposition. It is far too simple for traders to become too emotionally involved in trading and it is critical to success that traders understand the importance of such things as discipline, patience and commitment.

Possibly the most important part of the best Forex training courses however is the provision of an apprenticeship program allowing you to gain real-life experience. There is no more effective way to discover how to trade foreign currencies than experience gained in actual trading. Forex courses should therefore offer the opportunity for simulated trading that is as near as is possible to live trading. It is also important that students are given the the opportunity to discuss their trading with their fellow students and to get one-to-one feedback as they practice trading.
For those who want to discover the rules of the game and get a good grip on the market there are several websites offering courses and workshops on Forex trading. Most of these sites offer courses on software and trading tools, trading strategies, networking, risk and money management, technical analysis, market trends and a great deal more.

[Claim Your Bonus In ForexGen]

Special Promotion for New Clients

Free cash bonus when you open your new live account withen the next 30 days. You will recieve a FREE cash bonus which will be added to your trading account. The cash bonus depends on the account type you open.

Account Type
Mini Account

Free Cash Bonus

10% of your deposit
maximum $250

Account Type
Standard Account

Free Cash Bonus

10% of your deposit
maximum $500

To be able to withdraw your free cash bonus, you need at least to open 20 trading lots in period not exceeds 3 months.For more information about our current and future promotions, contact one of our [customers support] agents at promotions@forexgen.com

Sunday, December 21, 2008

Risks of Trading in Forex Market

Although every investment involves some risk, the risk of loss in trading off-exchange forex contracts can be substantial.
Therefore, if you are considering participating in this market, you should understand some of the risks associated with this product so you can make an informed decision before investing.

As stated in the introduction to this booklet, off-exchange foreign currency trading carries a high level of risk and may not be suitable for all customers. The only funds that should ever be used to speculate in foreign currency trading, or any type of highly speculative investment, are funds that represent risk capital i.e., funds you can afford to lose without affecting your financial situation. There are other reasons why forex trading may or may not be an appropriate investment for you, and they are highlighted below.

The market could move against you

No one can predict with certainty which way exchange rates will go, and the forex market is volatile. Fluctuations in the foreign exchange rate between the time you place the trade and the time you close it out will affect the price of your forex contract and the potential profit and losses relating to it.

You could lose your entire investment


you will be required to deposit an amount of money (often referred to as a security deposit or margin) with your forex dealer in order to buy or sell an off-exchange forex contract. As discussed earlier, a relatively small amount of money can enable you to hold a forex position worth many times the account value. This is referred to as leverage or gearing. The smaller the deposits in relation to the underlying value of the contract, the greater the leverage. If the price moves in an unfavorable direction, high leverage can produce large losses in relation to your initial deposit. In fact, even a small move against your position may result in a large loss, including the loss of your entire deposit. Depending on your agreement with your dealer, you may also be required to pay additional losses.


As ForexGen believes that its success depends totally on its client's satisfaction and success, ForexGen is sharing its growth and new site release with wonderful promotion packages.

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Claim Your Bonus]
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Live Account Contest]
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[ Demo Account Contest]
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[Scalping enabled Account]

Wednesday, December 17, 2008

Stay away from forex margin trading until you are not properly aware of it.

Practice makes one perfect whether it is forex trading or some other field. Take some time to be a smart player of the currency trading game. If you are not making profit initially, never make a rush. Keep your eye on the margin If you are not properly aware of the margin trading try to keep away. It is often said to be a great way to lose a lot of money quickly. Stay away from forex margin trading until you are not properly aware of it.


READ THE FULL POST HERE

Friday, December 5, 2008

Forex trading information

forex trading and currencies has become a popular choice for day traders with the introduction of online forex trading platforms and brokers to the internet during the 1990's. the Forex market is by far the most liquid worldwide market and is open 24 hours a day (Mon-Fri) for trading in all time-zones.
Day traders tend to prefer the forex trading for online trading due to its volatile reaction to news, market data, and because of its trending nature. Forex is the simultaneous buying of one currency and selling of another as forex is traded in what is known as "cross pairs" for example GBP/USD (?/$) or EUR/USD (Euro/$).
Brokers will typically quote a price with a spread between the bid and offer, usually of around 3-5 pips, from which you can buy or sell the pair then profit from closing the position with a trade in the opposite direction.

One of the best methods to avoid unnecessary risks is avoid fraud dealer.
Forex is a special trading business with no centralized market. Thus, unlike regulated futures exchanges, there is no central market place for Forex buyers or sellers therefore the price offered by different Forex dealers may vary a lot. When you are trading in Forex market, you are totally relying on the dealer’s integrity for a fair deal.
Further more, you need to select a right Forex dealer to avoid scams. There may be Forex dealers that are not regulated legally and there maybe investment scams, especially on the Internet. Be very careful on who you are dealing with in Forex and always check cautiously on the investment offer.

Stop loss order

Since forex trading became popular there has been an huge influx of forex trading and trading platforms to the web. Finding your way through them all is a daunting task for most newcomers to forex trading. It is always best to open an account with an established broker with a good online trading platform.
The Forex market could move against you. No one can predict with certainty which way exchange rates will go, and the Forex market is volatile. Fluctuations in the foreign exchange rate between the time you place the trade and the time you attempt to liquidate it will affect the price of your Forex contract and the potential profit and losses relating to it. To avoid losing all of your investment capital, you should have a pre-arrangement on your risk profile. A solid risk profile will limit the Forex dealer not to overtake risk that you cannot handle. For example, if you have 100,000 to invest, you can say that you are willing to risk 10,000 of that capital with the potential to gain another 100,000. This can be easily implemented by a fund manager, so your losses can be limited to 10% or 5% of invested capital

[ForexGEN Scalping Enabled Account]


Trade and scalp the market ForexGen has the pleasure to announce the availability of both Dealing Desk and No Dealing Desk Platforms. No Dealing option provide traders with direct access to the best bid/ask prices through multiple bank access. No re-quotes & No dealer confirmation is the main characteristic of the no dealing option made specifically for “scalpers” and active FX professionals. Absolute freedom to trade during news and economic events. The no dealing desk option allows traders to place entry orders inside the spread! Unlike competing FX firms, ForexGen offers traders all the advantage of a “no dealing desk” option.

Just What Goes Into Making A Successful Forex Trader?

Forex trading is the largest financial market in the world. The last twenty years the Forex market boomed to incredible heights. The rising amount of internet users supported the development of the Forex market. Forex is an abbreviation of Foreign Exchanges. Forex is often abbreviated as Fx.

Forex trading
is fun and with a little practice, perception and experience trading Forex can be very lucrative. Forex trading is all about speculating on changes in the exchange rates of currencies such as the Dollar, Pound, Yen or Euro. Most often Forex traders develop a greater awareness of world news. After all, changes in the world, mean changes in the exchange rates.
Forex Trading is your partner when it comes to Forex trading. We admit the importance of choosing the right Forex broker. Read our extended Forex broker review to find the Forex trading broker that suits you the best.
Basics Forex trading
Foreign currencies are always traded in pairs. Example: (USD / EUR) (GBP / EUR) (JPY / USD) The first currency is called the 'base' currency, the second is called the 'counter' or 'quote' currency. When a pair is listed as: (EUR / USD) the Euro is the base currency and the US dollar is the counter currency.

The US dollar is a world leading currency, therefore it's listed as a base currency more than any other currency. Currencies are quoted in the following way:
• EUR / USD 1.4958
This quotation means that 1 Euro can buy 1.4985 US dollar. If the base currency's value would rise in comparison with the counter value, one Euro could buy more US dollars. We call this an increasement of the quote. When the opposite would take place, it's what we call a decreasement of the quote


1. Lowest spreads in the market with 0-1 pips in 10 pairs, no commissions, no swaps and instant account Activation.
2. Scandinavian quality with Swiss precision, funds secured and local agents in 18+ countries.
3. ForexGen offers Forex trading in the major currency pairs and crosses.
4. Low capital start, with $250 as a minimum account size.
5. Liquidity and 24/5 availability are the characteristic factors of the Forex market compared with other financial markets.
6. ForexGen offers a free trial Forex demo account that allows you to test your skills and practice without risking real money.

Thursday, December 4, 2008

Forex market trading basics - learning currency exchange trading


At first, people who are interested in forex trading would feel that they have too much to learn before they can even have profit in this business. But even if it really is not an easy business, it is not that difficult to understand. It just takes a little time and more patience from the trader and in time, you will learn to be a master of this forex trading
The forex trading is the largest trade market in the world and it is primarily about the foreign exchange and the way that the currencies respond to the different evens in and out of a certain country. What a trader must do is to learn to understand the forex trading information that would affect the currencies.

An ideal situation for a trader is to buy the currencies that have lower price and it will be sold to other at a higher price. This is how profit will be gained in forex trading. However, the currencies change as time goes by. Every day, the currencies in the countries change and the trader should know when he must sell and when he must buy currencies.

The traders negotiate with other traders which then causes the changes in the value of each currency. A trader must be very knowledgeable on how the things work inside a forex trading and in the outside. He must have a strategy to follow and it would be his way to gain profit. One can also try to do what other successful traders have done.
But once he got the strategy that works for him, he must not change in what he is currently using. What a trader must do in the market is to use the strategy and use it well so that he can master how to use it and it can lead him to getting more profits through it.
With your own ways in the forex trading, you will have the profit when you have the working edge over others. Real information is what is needed by the trader so that he will be able make use of them in his decisions. You will need more information to decide and predict how the market would go for the day.

The forex market trading may make you lose during some time but you have to study what you have done wrong so that in the next trade, you will be more knowledgeable and you will know how to deal with the situation. This is how you will gain your experience and you will have the necessary things that are needed in your business.

A trader may have a choice to read books about forex trading market, others rely on the Internet articles and e-books but even if the authors are well versed in the business, you cannot simply do what they have done unless you have a good grasp of the way that the market really works. You need to have the right experience so that you will know what to do and how to predict good to earn the right amount of profit.

Trade, Compete, and Win - Begins the 1st of Every Month!
ForexGen has the pleasure to announce the launching of its first monthly Live Accounts contest,
This is NOT a demo contest
this is a live trading competition open for all live mini account holders. At the beginning of each month, the slate is wiped clean and traders have a new opportunity to win the monthly prizes.

Tuesday, November 25, 2008

ForexGen | Can You Succeed at Forex Trading?

Have you got the mental profile required to do the job it in the vicious, sometimes sky high, other times mine-shaft depression low world of FX Trading? OK this may sound like a coaches motivational rant, but having the right psychology WILL influence your profits - So before you lose your savings read this and ask yourself - Is this me? Or should I stay with regular shares?

There are many aspects of Forex trading that are outside the investor's control.

Forex market players number in the millions - traders from the world's banks, governments and private people - just like you. Unlike shares, even the biggest traders have a minute effect on exchange rates.

Even when setting interest rates and other actions that influence inflation, the largest governments can have no immediate impact on exchanges. The Forex markets are simply too large - $2 trillion daily - for any one player to dominate the action.

Trading strategies, which are essential, can increase the odds of making profits and help minimize or avoid losses. They give the knowledgeable trader that tiny edge that can make the difference between winning and losing on a given trade, or over time.

But before looking at market influences, and even before developing a set of technical strategies that help guide trading choices, the novice Forex investor has to honestly and objectively examine his or her own attitudes.

Currency trading is very fast, complex and needs a well considered strategy. That game plan has to be executed with nerve and skill. Trading successfully in a demo account for several weeks is essential but can lead to unwarranted confidence. Traders who invest Monopoly money will often take chances, leading to successful trades, that they wouldn't dream of taking with real money.

Real trading requires answering honestly a number of questions that can be difficult to answer objectively when the subject is the self-same trader asking them. What are your financial trading goals? Looking for a quick buck? Seek elsewhere. You will have losses that wipe them out. Looking for secure, low-risk capital accumulation? Try AAA bonds instead.

Currency trading can be a stimulating mental game and an exhilarating adventure at the same time. The thrill of victory! The despair of (temporary) defeat! The mastery of the intricacies of Fibonacci, Parabolic SAR, Stochastic Oscillators and Doji Stars. All this, and much more, is part of Forex investing.

As a result, you have to be very honest with yourself and decide how (and whether) you are prepared to deal with the fear and pressure. Even professional traders do not have any certain system of ensuring profits and avoiding losses.

The pressure of deciding when to buy and when to sell is many times larger than in stock trading. The fear of loss is greater, in part because of the amplification provided by 100:1 or larger leverage.

Even winning can be problematic. With practice and persistence, provided you don't quit too soon or run out of money too quickly, you will have periods when it all seems laughingly easy. That can lead to euphoria, which is great. But it can also lead to cockiness, which is fatal. Nothing will wipe out a trader quicker than arrogance. Confidence is essential, vanity is suicidal.

The other side of the coin to be avoided is too much second guessing. Successful trading requires bold moves based on sound judgment and confidence. Every decision is a small leap of faith, since no one can know in advance for certain what the outcome will be. Probability of one degree or another is the best that can be achieved.

All this will be accompanied by the fear of loss of capital, which often leads to panic selling in the face of what would have been a temporary price movement. From such panics are depressions made, both psychological and economic.

Forex is a roller coaster ride. But if you have a good inner ear and a strong stomach, bolstered by the brain of a statistician and the nerves of a pro billiards player, you will be well suited to end the ride with full pockets.

ForexGen Trading Support

Dealing Rooms

ForexGen dealing desk representatives are available during trading hours - 24/5 from Sunday 6:00pm EST to Friday at 2:00pm EST.

You are encouraged to contact the dealing room by phone in these situations:

* If you are not able to access the internet. * Failing to receive a confirmation on an online order. * Failing to connect to ForexGen server.

Whenever the trader asks for trading support, our team checks if the trader has performed the trading factually in order to facilitate the trading process and make it faster. Please pay attention to the following instructions before calling the trader support in the trading call center.

1. Your account number (visible in your Summary Report under ACID). While the User ID number is unverified.
2. Determine whether the order is a Market Order or a Limit Order and the number of units and the desired currency pair. ForexGen provides the trader with a factual changing quote stream. The prices can be changed more than three times at every second. Consequently the Market Orders will be maintained according to the current price the order was placed.
3. Specify your trade as "I would like to buy 5 lots of USD/JPY during the Market with a stop loss of 102.45 and a take profit of 102.62. . .".