What works best in Forex. How to work in Forex? It's very simple! What is Forex
Earnings on the Internet can be like the most common part-time job, or it can bring real income. You can earn in many ways, but perhaps the most profitable is earnings in Forex. Yes, in order to make a profit on this exchange, you need to invest money. But if you think about it, in order for any business to pay off and generate income, you need to invest a certain amount of money in it. Forex can provide high income even with minimal investment and even every day.
Forex is the global currency market. A variety of banks and companies trade currencies of different countries with each other. The price for a particular currency is formed by concluding relevant agreements, which depend on the indicators of supply and demand for this currency. And the exchange rate itself can change not only every day, but every hour.
For the convenience of understanding what Forex is, it is easiest to compare it with the most ordinary market. The prices of goods provided by this market are constantly changing. And the money is mainly earned due to the difference in purchase and sale, that is: bought cheaply and sold dearly. As well as in the usual market - the goods provided are bought cheaply and sold at a higher price. The difference between buying and selling a product is the seller's profit.
The main thing to remember is that depending on different situations and reasons, a person working in the market can go into a big loss. The percentage of people who have achieved real success in the market is very small. This can be understood. After all, not every person is faced with this area of \u200b\u200blife. And the opacity of dealing centers of trust does not add.
Of course, for real success on the stock exchange, experience and knowledge are needed. But for this it is not even necessary to study for the corresponding specialty: an accountant or an economist. Forex specialists will help you master even the smallest subtleties of working in the market and start a professional career. Therefore, do not be afraid of possible difficulties in understanding.
It will not be superfluous to read additional literature on economics, accounting and finance. Some specialized literature is also available on Forex. There is one more point that should be learned - to form your own opinion about the exchange, and not to read the comments and forums of those who work or have worked there. Most often, people who have not achieved success on the stock exchange write there.
Well, and most importantly, in order to have a good and stable income, you need to have desire and patience. Indeed, thanks to this, it will be possible to get acquainted with absolutely all the principles of fundamental and technical analysis and create the right strategy. Well, the right strategy, in turn, will provide a high and stable income. In turn, a high and stable income will provide the desired standard of living.
Forex at home
Forex provides an opportunity for everyone who wants to start their work on the stock exchange via the Internet. Thanks to this, you can even earn money without leaving home. For many people who have achieved huge success on the stock exchange, this is true. Forex has become an occupation for life. The main thing is just not to make big bets.
It should also be borne in mind that in general, in order to earn something in Forex, you need to make at least minimal investments. But for beginners in this field, there is an opportunity to earn money without making any investments. This is a demo account. In addition, various competitions are held from leading brokers.
Those who are not really familiar with the system yet can attract a so-called advisor. Often this is a fairly successful trader with a high percentage of earnings. This person will help a beginner choose the most optimal strategy for buying and selling currencies. In addition to the adviser, you can also use previously used strategies that may be suitable.
Thanks to a variety of software tools, working on Forex is free. You can not sit all the time at the computer and manage operations, transactions and monitor exchange rates. This can be done at any convenient time. This is facilitated by the fact that the market is open around the clock, so you can go to it at any time of the day or night. This possibility is carried out due to the ability to set the appropriate parameters in the software. When the market reaches the specified parameters, the corresponding income is obtained. And thanks to the system of restrictions, the possible loss can be minimized.
Who are brokers and how can they be replaced?
In the process of starting to make money in Forex, almost every beginner will have to deal with a broker. This person or organization will help any trader make a deal with a bank or a large financial corporation. These are intermediaries.
Thanks to them, everyone who uses Forex can access their trading platform. Which, in turn, allows you to enter the trading market and conduct transactions. Thanks to the Internet and related technologies, an environment virtualization system has been created that allows you to install special programs that replace a broker. Thanks to this, it became possible to track all changes in the state of currencies online and make decisions independently.
Thanks to the Internet and the joint work of programmers, economists and accountants in Forex, it was possible to create all the conditions for working at home. Further, everything already depends on how seriously you approach making money through the exchange. If you approach this matter responsibly, show diligence, ingenuity and intelligence, then success will be guaranteed. And success is money and a decent standard of living.
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Do you want to know how to get started on Forex for beginners and dummies? 5 tips to help you start trading in the foreign exchange market
Forex is a real way to make money online
It is no secret that often, even the most good salary by general standards cannot fully satisfy all the needs of a modern person.
Each time there is a feeling that the funds received do not fully appreciate all the efforts and potential that are invested in the work performed. Therefore, many people do not feel proper satisfaction from what they do, despite the fact that they love their work and perform their duties professionally.
Surely, each of us has thought more than once that it would be nice to use the time free from work to earn money. But the lack of strength and fatigue prevented the device for additional work.
There is a way out of this situation, and it became possible thanks to the development of information technologies and their introduction into the daily life of every person. Today, in order to start earning, you only need an information base of knowledge about trading markets, as well as a personal computer with Internet access and, of course, the desire to earn!
What is Forex?
Currently, there are a huge number.
Let's talk about one of them - trading in the foreign exchange market.
In order to start working in this area, it is not necessary to be a financier. But it is still necessary to have an idea about the basic terms and components!
FOReign EXchange (Forex) in translation from English means "foreign exchange".
Forex brokers are a company that provides its clients with access to financial transactions, and also acts as an intermediary between the seller and the buyer.
Forex trading is the process of buying and selling currencies in order to make a profit. Individuals, banks and foundations are involved in this process.
Idea trading on the international currency market comes down to buying currency as cheaply as possible and selling it as expensive as possible - this is the whole secret of making money!
Currently, there are many brokers that provide users with the opportunity to earn money on the exchange.
You should carefully consider the choice of a broker, because, unfortunately, it is very easy to fall for the bait of scammers at the present time.
- First of all, you should be guided by the advice of friends and acquaintances who work in this field, or at least when they encountered it.
- You can, in addition, search for reviews about the selected broker on the Internet. But you should not rely entirely on such a source of information. As a rule, too profitable offers most often come from scammers.
- Large brokers have high-quality websites and all kinds of applications in order to make the task easier for the user. Usually, after the registration process on the site, you will need to install a special program that allows you to immediately start working.
- Also, for starters, it would be worth going through training, which is often offered as the initial stage of working with a broker. You should not skip this important step, especially if currency trading is a completely new field of activity for you.
- In order to successfully start without financial losses, it is worth opening a demo account. Such an account has all the same properties as the real one. It will help you understand all the intricacies of Forex.
After these actions, any beginner will be able to cope with the task of obtaining additional income. You will need to open a real account and deposit the amount necessary to get started.
where to go about
how you can earn money by trading on the Forex market!
It must be remembered that stock trading- an activity that is inextricably linked with risk. Therefore, it is worth carefully and calmly weighing all decisions before risking your own funds. And perhaps for you such additional income as trading on the stock exchange will become the main one.
How much can you earn in the Forex market? Is it really possible to make money without investment? Personally, I managed to earn $500 in 2 days. To be honest, it's not very easy.
Hello dear readers! Alexander Berezhnov is with you and in this article I want to talk about my experience of trading on the Forex market. I will tell you honestly that this is an exciting activity for people with good erudition and strong nerves.
Here I will also tell you how to do it and through which brokers it is best for novice traders to work.
This material will be especially useful for beginners, and those who are just going to trade in the foreign exchange market. After studying the article, you will understand "your" it or not, what are the advantages and disadvantages of this way of earning.
1. What is the Forex market and how does it work
Forex Market(Forex) is an international currency market, which is a kind of virtual space where the price of financial instruments - currencies of different countries - is formed at the current time.
This market does not have a single trading platform (exchange), unlike the stock market. Due to the fact that this market is international and is conditionally divided into trading sessions (American trading session, European and Asian).
Forex operates 24 hours a day, 7 days a week. This means that you can earn here at any time.
The currency market itself was originally intended so that large companies, banks and even entire countries could exchange one currency for another, that is, for example, buy euros for dollars, sell francs and buy yen (Japanese currency) and so on.
But, as they say, a holy place is never empty.
And along with the emergence of the market itself in 1971, it began to attract financial (currency) speculators like a magnet, who are usually called traders*.
Trader- (from the English "trader") is usually applied to people who make speculative transactions in order to make a profit in the foreign exchange and stock markets.
Therefore, having started trading on Forex, you automatically fall into the category of traders, acquiring a complex, highly paid, and very risky profession.
How you can make money on Forex - a clear example from real life
We all see how the dollar and the euro behave against the ruble, especially in recent times.
Let's say you bought $1,000 by investing $50,000 in that purchase (50 rubles per dollar).
If in a couple of days the price of the dollar goes up and it costs 53 rubles, then by selling your thousand dollars, your profit will be 3,000 rubles.
This is rude, since the bank will charge you another commission for exchange transactions, but the general meaning does not change from this.
Making a profit on currency speculation is like buying tomatoes on the market for 50 rubles per kg, and then coming and selling near your home to women who are “dying” without fresh vegetables for 70 rubles per kg.
Please note that the price may not rise for the dollars you bought, but rather fall, and then you will either have to sell your thousand dollars and fix a loss, or fill up and wait for the “greens” to rise in price.
Of all the brokers operating in the territory of the Russian Federation, only one company, which has existed since 1998, fully meets the above criteria. Excellent training, low spreads, the best customer support (Alpari has an office in almost every city where free consultations are held).
Alpari teaches beginners to trade Forex for free - you will master the terminology from scratch, understand the interface of the trading terminal, master 10-15 strategies. Just fantastic.
There is a third option, when you have already bought dollars for 50,000 rubles and the price has gone down.
When the price falls, buy more dollars, thereby averaging the purchase price, and sell the entire stock of currency when the price goes up.
Now I have given you an element of a trading strategy in the Forex market, which is called "averaging".
In some cases, “averaging out” is justified, but very risky, since the price of the purchased currency may continue to fall and then the value of your currency portfolio will rapidly decrease.
2. Is it possible to make money on Forex and is it possible to do it without investments?
Yes, you can make money in Forex and very quickly. This is what attracts a large number of people every day.
After all, money loves an account, right?!
Is it possible to make money on Forex without investments?
There is such a possibility.
For example, consulting and trust management.
Profit in Forex is formed in any case in the presence of trading capital.
That is, in order to make money, you definitely need to invest in a particular currency in order to sell it later.
But! If you have experience and understanding of the principles of trading and you are confident in your abilities, then you can give advice to people trading in Forex and take your percentage of their profits.
To do this, you will need to constantly analyze the situation in the market and in the world, but the payment for your intellectual work will be very worthy.
Developing this idea, you can offer a person who has money to be his hired trader.
That is, he opens an account for himself, and you trade on it, and divide the earnings, for example, 50 by 50. If your work makes a profit, then investors will incur money for you.
Thus, we can say that it is impossible to make money on Forex without investments, the only question is whose investments it will be.
What you need to make money on Forex - 4 basic conditions for a safe start
Let's now look at what you need to know, be able to and have in order to profit from currency trading.
These prerequisites will be essential if you decide to become a trader in the foreign exchange market.
Condition number 1. Initial capital
Yes, freebie lovers will have to smoke on the sidelines, since earning quickly, at the same time a lot and without investments can only be done in criminal or morally unacceptable ways.
Here it is necessary to think not in money, but in percentages, since working on Forex is something between speculation and investment.
For example, it is considered good earnings if you are here STABLE earn a profit of 3%-10% per month, which is an average of 30% before 100% per annum.
A trader receives such a percentage of the invested funds if he does not invest back the received profit, but withdraws it and spends it on his own needs.
If a trader does not withdraw his profits, but systematically builds up his trading account, then taking into account compound interest (when interest is superimposed on interest), his annual profit can be from 100% before 500% per annum.
In theory, this is true, but practice shows that only a few people out of a hundred are generally able to make a profit here, comparable at least to the interest on a bank deposit ( 8%-15% per annum).
Thus, if you want to earn $100 per day ($3,000 per month), then you will need at least 10 times more capital.
Condition number 2. Special knowledge and experience
Like it or not, there is nothing to do without knowledge and experience in Forex, that's for sure!
You can get them by starting to study articles, literature and videos on the topic, as well as by opening a virtual trading account and practicing on it.
In the meantime, it remains to become a student.
The best training option is to find yourself a good mentor who already has rich experience in Forex trading, earns a stable income and can teach you.
Such a person can teach you both for free (for a nominal fee), just because he simply enjoys transferring knowledge, or he can ask for a solid fee for transferring experience to you.
If a mentor asks you for money for training, demand guarantees of results from him, although in most cases your financial success will depend on you, or rather on the quality of your trading decisions.
Then you will understand what Forex earnings are for you - fantasy or reality.
Where to look for a mentor (experienced trader):
- among friends and acquaintances;
- on thematic Forex forums on the Internet;
- in brokerage companies and dealing centers in your city;
- at seminars and events for traders.
What to look for when choosing a mentor:
- Is Forex the main source of income or is it just a hobby for a person. A professional trader, with his large earnings, will not be scattered and do something else.
- Reports on the results of trading for at least one year on different accounts. The market changes frequently, and a 5%, 10%, or 30% profit in one month can turn into an equal or even greater loss in the next. Therefore, the period for which the future mentor provides you with a report is important. It is also important to find out if this is the only account the trader has. Perhaps it was on this account that he managed to increase his capital by 70% in a year, and on another trading account he suffered a big loss, which “ate” all the profit. See how your mentor will analyze the chart of currency pairs and what he will do after such an analysis.
- You see with your own eyes how a person earns money. Sit next to him and see how he trades on a live account. If a trader earns consistently here, he has nothing to hide. He will open his trading platform right in front of you and show you in real time how to trade Forex correctly and explain his actions.
Here's what else you need to be productive on the stock exchange.
Condition number 3. Steel nerves and time
I'll explain why.
When you open a position, that is, buy any currency, you immediately see how the current price fluctuations change the size of your account.
Just imagine, you are sitting and seeing the following picture on the screen: two minutes after opening a deal, you have “+ $153” on, and after five to ten minutes you see “- $184”.
The question immediately arises, why not close the deal when it went into plus?
And then the main enemies come to the trader - these are fear And greed.
Greed tells him - wait a little longer, maybe in 5 minutes there will be 2 times more.
It also happens vice versa.
The trader opened a deal and it went negative, and fear tells him to close the position until the entire account has been "leaked".
In any case, in order to understand the principles of working on Forex, and even more so to start earning at least a living here, I'm not talking about butter, a considerable amount of time must pass.
It is usually measured in months or even years.
Condition number 4. cash reserve
Dear friend, you should know that all speculative transactions, especially in the Forex market, involve great financial risks.
We can say that this is your own home business.
Therefore, remember the golden rule of risk management in business:
Never open a business with the last money, especially if you do not have enough experience for this!
Indeed, in most cases, novice traders completely lose their trading account in the first week of working on Forex.
Conclusion
You should have a specially set aside reserve amount that you plan to live on while you are on your way to becoming a trader.
Or you must have other sources of income if you do not want to be disappointed once and for all in making money on currency speculation.
At the end of this section of the article, I want to clearly highlight the advantages and disadvantages of working in Forex.
Benefits of Forex trading (+)
1. The ability to earn a lot and quickly
Due to the fact that the broker provides you with leverage, you can literally turn $100 into $1000 here in just a day! Another thing is how justified your risks will be in this case.
2. Unlimited earnings
When people ask how much you can earn on Forex, the example of the famous financier George Soros immediately comes to mind, who earned more than a billion dollars here overnight!
If you still have this question and a billion is not enough for you, then all that remains is to become the ruler of the world and appropriate all the resources that are on the planet.
It's a joke of course :)
3.Easy operation
Technically, Forex trading is no more difficult than using a mobile phone or playing a computer game. Another thing is that the financial results in this case will no longer be a toy.
Disadvantages of Forex trading (-)
1. High risks of losing money
The leverage that the broker provides you is usually 1 to 100. That is, the broker “sponsors” your part of the trading capital with another ninety-nine.
This means that you open a trace not for $100, but immediately for $10,000, and the slightest fluctuation in the exchange rate entails a quick change in the trade balance, both positive and negative.
If you do not have experience yet, and the excitement during trading is added to this, then the chances of getting losses increase many times over.
2. Nervous work
If you have not tried to play Forex yet, then I guarantee you that the first time you trade for real money, your palms will sweat, your heart will beat fast and even gray hair may appear.
Here you need to be calm and emotionally stable.
In some cases, people working in this market develop gambling addiction* , they can no longer stop and "flirt" on the stock exchange, as in a casino. They lose everything, they sell the last things from the house, they borrow money and spend it. So be careful.
gambling addiction- a psychological illness, which is characterized by dependence on the process of the game. Especially often gambling develops among people who gamble for money, among casino visitors and often among stock traders.
3. Income instability
Even the coolest traders in the world will tell you that it doesn’t happen once in a while and in some month or year you manage to make a lot, and in another period the speculator suffers losses or stays with his money.
Therefore, professional financiers usually measure the results of trading once a quarter or a year.
The best saying here is:
"Do not count your chickens before they are hatched".
A novice trader should be aware that good profits from previous periods do not at all guarantee the same results in the future.
3. How to make money on Forex - step by step instructions for beginners
And now that you have learned about what Forex is, understood the principles and nuances of this type of earnings, I suggest that you read the step-by-step instructions that will help you, as a beginner, get started in this business correctly and maximize your chances of becoming a successful trader.
Step 1. Choose a Forex Broker
Here I will tell you how to choose reliable broker* .
A significant part of your trading success depends on which broker you choose.
Broker- this is the company through which you will carry out trading operations in the Forex market.
Legally, you cannot enter the foreign exchange market directly on your own.
It is best to choose a Forex broker according to the following criteria:
1. Longevity and seriousness of the company
Find out if the company is officially registered and whether it has the relevant documents for conducting brokerage activities.
On the site brokers.ru you can see the rating of Forex brokers and find the most suitable company for yourself. It is advisable to work only with those who are in the top ten.
3. The minimum size of the trader's trading capital
For different brokers, the amount of the minimum deposit - your trading account is different and can vary from a few cents (the so-called cent accounts) to several hundred dollars.
For example, banks have a minimum trading account size of thousands of US dollars.
4. The value of the trading commission (spread * )
Another important indicator when choosing a broker.
Spread is the difference between the buying and selling price of a currency. But it's easier to say that this is a broker's commission, so it will be clearer if you are new to currency trading.
The lower the spread, the more profitable it is for you to trade.
When you open a trade, a small amount (spread) is deducted from your account. This means that you automatically go into a small minus.
Thus, if, for example, you opened a trade, the price rose and you fixed an income of $100, then your profit will be $99.5 including the broker's commission.
5. Bonuses and level of service
Pay attention to how the staff of the brokerage company and support services communicate with you, as well as in what way the earned funds are withdrawn.
Step 2. Decide on a financial instrument
To start trading, install a trading platform. For different brokers, it may differ in functions and interface.
The classic Forex trading program for most brokers is still Metatrader version 4 or 5.
Understand the functions of the selected program, analyze and test all its capabilities.
Search the Internet for instructions on how to use this trading platform or ask for such a guide from the employees of the brokerage company.
After you learn how to use the program, you will have to choose the currency with which you will trade.
In Forex, currency pairs are traded, for example, euro-dollar (EUR/USD), Swiss franc-dollar (USD/CHF) and so on.
To get started, choose one popular currency pair, best of all the euro-dollar (EUR/USD) and look at its chart and current price change.
In the future, with the advent of experience, you can trade two or three currency pairs or more.
Step 3. We pass the training stage on a DEMO account
Now let's move on to trading. Open a training account for trading (demo account) with the amount you plan to actually trade, for example $1,000.
Take some time to trade on a demo account, for example, a week or two, to understand how to trade Forex technically using a trading terminal (computer program).
Try to treat the demo account as if it were your real money, don't make big losses, but don't chase super profits either.
Trade calmly, open and close trades only when you are sure that this is the most correct decision at the moment.
Do not open a real money account until you are consistently making money on a virtual account.
Usually, after a few days, miraculously, people make good profits on a demo account, and some even double their trading deposit.
But not everything is so smooth when it comes to real money. After all, here your emotions are the main obstacle on the way to big earnings.
Now the final step remains, let's move on to it.
Step 4. Opening a real account
To get started, you can open a cent account if your broker provides such a service. Here you will indulge in "penny", but it will already be real money. And if you suddenly lose your trading capital, then it will not be so insulting, because it’s not a pity to give $ 10-20 for getting a good experience.
Article written 02.08.2011
I want to warn you that you need to do everything deliberately in Forex and you definitely need to download an adviser for yourself, because without it there is no way. An Expert Advisor is a program that itself opens an order when the rate is favorable, and closes them with a profit when the rate changes in the right direction. (You can download the adviser.) The exchange is just the place where it is better for us when someone works for us, and this is the case. There are quite a few schemes that can earn on Forex, but one of the most accessible for beginners is earning with the help of an adviser. You just need to "attach" it to your account and monitor the balance. Never try to correct the actions of your advisor if you are an inexperienced trader, it is better not to, because you will lose more than you will find. Sometimes you have to go into the minus, so that soon it turns into a plus. But this is all the concern of your adviser. The only disadvantage of working on Forex is that you cannot earn every day - the exchange is closed on weekends :).
The Metatrader trading terminal for Forex trading is a program with a chart that contains absolutely all the information about the exchange. The terminal also stores the history of trading, and many argue that it is possible to roughly predict its future from the past of Forex. Some traders who have mastered this successfully use it and have a good one. You can download the terminal in the dealing center (DC) Forex4you after registration .
On the website of the DC in the upper right corner there is online help in real time, professional consultants of the DC will help you deal with all issues.
In addition, there is also a 3-level affiliate program - 50% -16.67% -5.56%. You can earn solid money without trading yourself, only to attract new users!!!
Experienced traders can trade without the help of an advisor.
In order to register, it does not take much effort or intelligence. To do this, you will need to fill out a questionnaire, then select the parameters of your future account and confirm your agreement with the documentation (after reviewing it). And the last, most important step is depositing money into the account and launching the adviser. Detailed step by step instructions. In addition, on the website of the DC in the upper right corner there is online help in real time, professional consultants of the DC will help you deal with all issues.
In addition, there is also a 3-level affiliate program- 50%-16.67%-5.56%. You can earn solid money without trading yourself, only to attract new users!!!
Everyone, sit back and watch your balance grow.
If you are interested in working on Forex, take your time. To get started, you need to go through a few preliminary steps.
Mandatory preliminary stages of work in the forex market
If you have already firmly decided to become a trader, you need to choose. It is much easier to do this today than it was three or four years ago. Thanks to qualitatively new regulatory ones, scammers and poor-quality brokers leave the market. We recommend that you choose a major Forex player who will guide you through the following required steps:
- Education. By giving up training courses, you simultaneously give up the opportunity to earn on currency trading. What should be the duration of study? It depends on you and your abilities. Some beginners only learn the basics and key terms. Others learn in detail about indicators, strategies, analyze the market and learn how to manage risks. The second option is preferable;
- Trading on a demo account. If you are interested in working on Forex from scratch, be sure to open a demo account. This can be done on the website of the broker with whom you will cooperate in the future. Make deals, look for the best strategy for yourself. You do not risk anything: virtual money and its waste do not oblige you to anything. The optimal duration of work with a demo account is at least 6-8 months.
After making sure that you understand how to trade Forex with a demo account, open a real account. But be careful: now you are risking your real money.
How to work in Forex without money?
You can start trading with a minimum starting capital. You can easily find a brokerage company that will offer a cent account. One dollar is often enough to open a deposit. But you must understand that such work on Forex will not bring profit.
If you do not have free funds, use leverage. For example, you have $20 to trade. Contact a broker and you will receive $500 from him to open
The optimal amount for replenishing a deposit by a beginner is 400-500 US dollars.
What type of work to choose in the forex market?
It is necessary to answer this question before starting to work on Forex. You have several options:
- Classic way of trading A. You will need to treat trading the same way you would treat any other main job. Every day you will need to collect data for analysis, make decisions about buying and selling currencies. You can only rely on yourself;
- Automated trading. In this case, special software will manage your deposit. The software will monitor the situation and conduct transactions at its own discretion. If you have substantial financial resources, you can choose this option. But be aware that perfect software does not exist. Any specialized program has its drawbacks - the possibility of making mistakes, moral obsolescence, etc. Another important point is that the software works according to only one specific strategy. It is most reasonable to make automation your assistant, and not to trust it with the entire amount of the deposit account;
- Trust management. You can turn to an experienced trader, and the latter will manage your money for you (for a certain percentage of the income from operations). Another possible option is to replenish your PAMM account. In the latter case, the income will be divided between the contributors, taking into account how much each contributed. Do not rush to choose a management company or trader. Be sure to study blacklists and ratings. Otherwise, you may be left without money.
Each major broker's website has detailed instructions on opening an account. Therefore, before you start working on Forex, there is only one thing left for you - to find a brokerage company that you can trust.
