Available about Forex trading in Russia. Oleg Papkov
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successor of the CRFIN. The task of the organization is to protect the rights of all trading participants in the foreign exchange market. The regulator works closely with government agencies and lobbies for the interests of financial market participants.
FSA-FCA (Financial Conduct Authority) – The Financial Conduct Authority of the United Kingdom, which is a non-governmental independent body that regulates the activities of investment, banking and financial companies, acts in accordance with the"Financial Services and Rinks Act 2000”.
CySEC is the Cyprus Securities and Exchange Commission, which serves as the state regulator in Cyprus. The main mission of the Commission is to control the activities of financial and foreign exchange companies located in the Republic.
CBR – Central Bank of the Russian Federation;
ASIC – (Australian Securities and Investments Commission) – the state Securities and Investments Commission of Australia is the main and only financial regulator in the country.
SEBI-The Securities and Exchange Board of India (SEBI) is the regulator of the securities market in India.
BVI FSC – — Financial Services Commission of the British Virgin Islands. The financial regulator was established in 2001.
RAUFR-Russian Association of Financial Market Participants (RAUFR) is a non-profit organization that unites responsible participants of the financial markets of the Russian Federation on voluntary terms.
CNMV-The National Commission for the Spanish Stock Market (The Comision Nacional del Mercado de Valores, CNMV) is the state financial regulator of Spain.
FCMC-Finanšu un kapitāla tirgus komisijas (FKTK, in English Financial and Capital Market Commission, FCMC) The Financial and Capital Markets Commission of Latvia is the state financial regulator of Latvia.
FINMA – (Swiss Financial Markets Authority) is the Swiss financial market surveillance service, which is a public authority.
The Commission for Regulation of Relations between Financial Market Participants is a non-profit organization whose activities are aimed at developing services and regulating relations between Russian participants in international financial markets.
BNB-Bulgarian People’s Bank (bolg. Bilgarska Narodna Bank) is the central bank of Bulgaria.
SIBA-Seychelles International Business Administration.
VFSC-VFSC is the Vanuatu Financial Services Commission, established in 1993. The duties of the regulator include: issuing licenses for financial activities on the territory of Vanuatu, monitoring the work of licensees, consulting the population.
CFTC-The CFTC (Commodity Futures Trading Committee) is one of the most authoritative forex and futures brokers in the world – the Commodity Futures Trading Commission, established by the US Congress in 1974. It is an independent government agency that is granted the right to regulate the options and futures markets.
MFSA-The Maltese Financial Services Authority is the government body of the Republic of Malta that regulates and supervises the financial and credit sector.
IIROC – Investment Industry Regulatory Organization of Canada. Investment Regulatory Organization of Canada.
MAS-Monetary Authority of Singapore. The Monetary Authority of Singapore (MAS) is the central bank and state financial regulator of Singapore.
And also against the name can be the method of bringing your transaction to the open market, i.e. the types of accounts used by the broker.
Types of the broker and the account types
MM – Market Maker;
NDD – No Dealing Desk. Trading without the participation of a brokerage company. Withdrawal of clients ' orders to the open market automatically and execution on the side of the liquidity provider.
ECN – Electronic Communication Network. Electronic communication network for the implementation of transactions for the purchase/sale of a financial asset (currency pairs), which eliminates the role of intermediaries from the information exchange chain.
STP – Straight Through Processing. A system that allows a Forex broker to send client orders for execution directly to liquidity providers – banks that trade directly on the interbank market. The more liquidity providers there are, the better execution for customers. The fact that traders have access to the real market and the possibility of instant execution of orders without the participation of a dealer makes this system extremely attractive for most traders.
DMA – Direct Market Access. The technology of accessing the market directly, bypassing the broker.
We have dealt with brokers and their real trading accounts.
Now let’s look at the demo account and its advantages. Any Forex broker must have a demo account.
Demo account
Forex trading, mastering Forex trading, learning Forex trading is very similar to learning to drive a car. Who thinks that he will sit down immediately and go, if he does not know how to drive a car, then he is deeply mistaken.
Just like in real life. He can go, but not far and not for long.
If you do not know the car at all, and this is unlikely, of course, but you are going to master it and learn to drive without accidents, then you need to first pull the handles, push the buttons, turn the steering wheel, push the pedals, turn the key in the ignition, open the hood and close the doors, and so on.
Similarly, in Forex. Before you start trading, you need to go to the website of the selected broker. And it must choose another and open a demo account and characteristics of currency pairs instruments that will be attached to this demo account, they also may differ. Therefore, a demo account must be very similar to a real account. Otherwise, the skills acquired on a demo account may diverge, or even interfere with working on a real trading account.
The MetaTrader 4 trading platform is universal. It can be used, and many brokers do, and in the stock market. When trading stock, futures, metals, contracts. That is, the trading platform itself is quite versatile, but the parameters of both demo and real accounts and currency pairs provided by the broker (not the parameters advertised on the site, but the internal parameters of the account and currency pairs to them) can seriously differ from the parameters of real accounts and currency pairs to them.
How to choose the right demo account?
Forex demo account and the importance of knowing its internal characteristics.
Below is a chapter devoted to analyzing the characteristics of accounts and how to determine them.
Many brokers have demo accounts where you can practice, arrange a demo trade, that is, work out any strategy or just watch the movement of the chart, the movement of the indicator lines, the interaction of indicators, their fine-tuning. That is, a demo account is like a polygon where you can try everything on virtual money that you can’t try on a real trading account on real money.
I will immediately make a reservation that there are very important points. If you have already selected a future real account with real money according to any criteria, then your demo account should match the real account as closely as possible. According to the characteristics, internal parameters and parameters of the selected currency, currency pair” attached” to this demo account. You should know what the differences are between a demo account and currency pairs to it, from a real account and currency pairs to it in terms of characteristics and parameters.
For example, on a demo account and a currency pair, there is, for example, an parameter such as the value of the maximum approximation of order prices to the exchange rate at the moment, can be zero on the demo and currency pair. On a real account, this parameter is probably different and has some value other than zero. And this is very important in real trading. And, depending on which strategy you are going to use: