Forex trading can be profitable but can also be complex. It’s not difficult to see why. Profitable trading involves more than just making good analysis and risk management. It also requires a lot of other factors such as trading psychology, money management and choosing the right broker. Not everyone wants to trade in the forex market. Some enter the market to learn how to trade. Others become teachers and offer courses on forex trading. Then there are technical experts who help with automated systems. The forex market offers many opportunities for a career and huge potential to make large profits.
Forex brokers are the online trading platform or system that allows retail traders to trade online. Although the foreign exchange market is online and worldwide, retail traders cannot access it individually. To access the decentralized market, traders must choose and register on a particular platform. A broker provides traders with important tools and information for trading, such as price action charts, live currency exchange rates and other useful tools. A majority of broker accounts offer a demo account for free. Forex traders, particularly beginners, can use a demo account to test their trading skills and learn new things. Get our complete list of forex broker reviews so you can find the best broker.
In general, the term “white-label” refers to a type or partnership where a company with a better brand name sells products and services of another company as part of affiliate marketing. White-label forex is a type of affiliate partnership. A provider of solutions and infrastructures for a new forex brokerage firm is known as a ‘white label provider’. These solutions and infrastructures include MT4 and MT5 servers, backup system, global network and building a global network.
What is a white-label broker? It is almost identical and easy to understand. The white-label provider is explained in the paragraph above. The white-label brokerage is the one that uses the white label provider’s services. White-label is an affiliate partnership. The white-label broker will pay commission to the white label provider. If there are any technical problems or new solutions, the white-label broker will contact the white-label provider. For better analysis check out best trading broker reviews and trading platforms with low cost and comparison,and more.
There are two types of forex accounts: MAM and PAMM. The PAMM, or Percentage Allocation Money Management, is a type of investment where investors invest in a trader’s trading account. This basically means that they invest in the trader’s ability to make profits. Because they earn a commission or profit from managing an investor’s trading account and assets, traders are known as masters and managers. In general, MAM, or Multi-Account Manager refers to the same thing as PAMM. MAM is different in that the investor has control over the trader’s trading activities. An investor can close and open trades or ask the trader for changes to his account management.
