How to choose the right broker for yourself
There are several qualities you should look for before finding yourself the correct forex broker.
The most important thing for a good broker is that they MUST have a high level of security. They must be trustworthy and reliable. Also, they must be a member of the regulatory bodies such as FCA, PRA, ASIC, CFTC and so on.
2. Transaction Costs
Make sure you know if you need tight spreads for your type of trading, and then review your available options. It’s all about finding the correct balance between security and low transaction costs.
3. Deposit and Withdrawal
Good forex brokers will allow you to deposit funds and withdraw your earnings hassle-free. Your broker only holds your money to make trading easier so there is no reason for you to have a hard time getting the profits you have earned. Your broker should make sure that the withdrawal process is speedy and smooth.
4. Trading platform
When looking for a broker, always check what its trading platform has to offer.
Does it offer free news feed? How about easy-to-use technical and charting tools? Does it present you with all the information you will need to trade properly?
It is mandatory that your broker fills you at the best possible price for your orders.
Under normal market conditions (e.g. normal liquidity, no important news releases or surprise events), there really is no reason for your broker to not fill you at, or very close to, the market price you see when you click the “buy” or “sell” button.
For example, assuming you have a stable internet connection, if you click “buy” EUR/USD for 1.3000, you should get filled at that price or within micro-pips of it. The speed at which your orders get filled is very important, especially if you’re a scalper.
6. Customer Service
Brokers aren’t perfect, and therefore you must pick a broker that you could easily contact when problems arise.
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Is Forex essentially gambling?
In my opinion, Forex is NOT exactly gambling because there is a lot of difference between Forex and gambling.
1. In Forex, you can make a lot of predictions based on the news and the past history, but you can’t even do that in gambling.
2. I haven’t seen anyone make a living from gambling but I do see people make a living consistently from trading Forex.
But nowadays people especially the elderly treat Forex as gambling and trade without a plan. It is their fault. This is because trading is not merely about sell or buy, it requires a lot of training, discipline, patience, and experiences as well.
Why did I join the Advertising industry?
Hmm, to most people when you mention the word "Advertising", you get two types of response. The older generation, such as your parents, your uncles and aunties would go "Oh, Advertising. What do you do actually?" They would rather you become a doctor, lawyer or engineer. Then there's the other group of people who go "Wow, that's so cool! You get to create cool advertisements. It must be fun!"
I was a part of the second group of people, in terms of my expectations when I was new to the industry. Only to realise, its not a business of creating something cool cause we can but its a business of solving problems. Solving real business problems. And majority of the times, problems my clients face does not require a cool ad as they are not mainly launching a new product like a new beer flavour / the new iPhone100 but rather how can we encourage parents to vaccinate their children against influenza.
I personally enjoy working on brands most people see as "boring" such as pharmaceutical and healthcare and banking because these guys sell you a service and knowledge of their products that actually benefit you and your loved ones but you would prefer not to hear from them unless and until you need them.
And that's the beauty of advertising to me. Making you see that some brands have a valuable POV that needs to reach its intended audience and I can help make their brand matter.
What is your main learning from previous experiences in ad industry on how to select which idea is the best and should be executed?
Asked by Ronaldas Buožis
Thank you for reaching out. The first criteria would be what is the problem you're trying to solve. Is it creating awareness for a new product that nobody knows of? Is it increasing sales? First, identify what is the objective / problem. Then evaluate all ideas you think of if its addressing the problem. Some ideas may be nice to do but it doesn't address the problem so put them aside.
A good idea is often single minded based on insights and understanding you have of your business and who you are targeting. Why would this appeal to them? What would make them listen to you. One thought that you want people to focus on that is the core of your business. The creative execution would be based on that single minded thought
Also look at who your target audience is. Would this idea appeal to them? Would they respond in the manner you want them to? Where would you reach out to them? If your audience is someone who is in their 50s, why would you do a tiktok campaign? You would reach out to them on FB instead.
Time and cost is of course another factor. Can your idea be executed within the timeframe you're looking at and within the budget you have? Any regulatory issues / permissions required? That will delay the launch date.
Hope this helps :)