Recommended Affiliated Resources
Brokers
The number one question we are asked is which broker to go with. This is a fair question as there are some very dodgy brokers out there, and if you are placing your hard-earned cash with them, then you want to make sure you have gone with a reputable one.
Everyone has different circumstances, whether that be a country of residence, style of trading, deposit amount, risk tolerance etc, so for us to answer your question about broker selection is just too difficult. So why not let the experts deal with it, that is where Forest Park FX comes into it and helps you identify a broker to suit your individual needs at no expense to you, as they get paid by the broker. They are an Introducing Broker with plenty of contacts, and if you have any problem with a broker they have recommended to you, they can act on your behalf to assist with any issues you may have. There is also a chance that you may receive cash rebates as a result of using a particular broker. I’ve been with Justin and his team for a few years now and they haven’t let me down.
Expert Advisors (EAs/Trading Robots)
A lot of traders are interested in automating their trading, and look at using Expert Advisors which are more common on the MT4 and MT5 platforms. I also have a strong interest in this field, having my own EAs built over the years and also purchasing 3rd party EAs.
There are plenty to choose from, and most are rubbish. But there are some decent ones out there and Alex and his team from Expert4X build some that may be of interest to you. Just be aware that most EAs are just not set and forget. They do require some work when it comes to setting them up and then monitoring them. There is no holy grail in trading robot land. If this is something that interests you, then check out this introductory video here.
TradingView
As most of you know, I now use TradingView (TV) for the majority of my trade analysis. I still trade-off MT4 and MT5 platforms, but TV is more convenient when it comes to using multiple devices, and it is more user-friendly, with plenty of other bells and whistles. There is a free version, but it is limited, so if you can afford it, I would suggest you go with one of the paid plans.
Capital Access
Darwinex Zero is a monthly subscription service for traders who want to build a track record and attract investor capital without risking their own funds. Similar to a prop firm, but without all the restrictive rules. The trader receives a virtual $100,000 account to demonstrate their strategy’s performance, and those traders who prove their consistency can receive real capital allocations, where they would then receive performance fees based on their results.
Here is some further information about Darwinex Zero
If you do sign up, then use code DWZ2331973MGM for a 15% discount
Trading Simulator
I wish I had access to this Trading Simulator on MT4 many years ago.
This software from Soft4FX is a great piece of kit, and if you can afford the US$110 or so, then it will help your trade training immensely. It has time-saving features coupled with accuracy. A demo is available for free for an unlimited time to give you an idea of whether it is something that you could benefit from, however, demo features are a little limited.