Hi Guys, I am Lewis and currently I am switching from crypto to forex trading so I am just looking for the advice what you guys will advise me in the forex like any tips from your side and also please let me know which platform will be the best in europe for forex
Welcome to Babypips, Lewis. Switching from crypto to anything sounds like a good move to me.
I think you might mean “broker,” when you say “platform”? (2 very different things!).
UK regulation by the FCA is the very best (for customers) and you don’t need to be either British or UK-resident for your account to be protected by both the government-backed funds-security guarantee and the financial ombudsman service, both free if you ever need them.
But any broker that’s regulated by a proper EU regulator should be OK. That’s the one thing that matters far more than everything else added together.
It’s where your account is regulated that matters, not just “where the broker’s regulated”.
Cyprus, Malta and Bulgaria regulation isn’t quite as good (for customers) as any other EU regulator, and some experienced forex traders do carefully avoid those countries’ regulators when opening a new account.
i like Oanda, but unlike all the information above, that’s personal opinion only. Everyone has one and thinks theirs is best!
Good luck!
Welcome Lewis! Hmmm.
I think forex and crypto have a lot of similarities so I hope the transition won’t be that hard for you.
It’s been a while since I really dabbled into crypto so I’m not sure if I’m in the right position to give any advice though.
Good luck with your forex trading journeeey!
I think you chose a wrong time to join forex! I personally am doing most of my trading on crypto, I think the movements are better idk how to explain.
Hey Lewis, welcome to the world of forex! It’s awesome that you’re making the switch from crypto—forex can offer a bit more structure and predictability. One tip: pay attention to economic news, like interest rates and job reports, because they really move the market. Also, don’t stress about catching every move—start with one or two currency pairs and get a feel for how they behave. As for platforms in Europe, just make sure the broker is regulated by something like the FCA or CySEC so you’re trading with peace of mind. Take your time, enjoy the process, and you’ll find your rhythm soon enough!
Did you leave crypto completely?
Yes the transition is not going to be super hard for me but you know in crypto I like high returns so I was thinking if forex have same kind of profits.
Nope bro, Crypto is my fav and I made good amount of money through ido and future but currently my main motive to join forex because I want to just diversify my risk.
Have you checked futures? I believe it’s way easier, but hey, that’s just my opinion
Not just yours! Many people trading for a living share that opinion. They don’t want to pay spreads for ever, want to combine high leverage and effective pro-client regulation, and want an honest market where all the brokers have the same prices at the same times. Among many others reasons!
I agree, with everything you said. I started trading FX ( back in 2016 circa - CFD in the UK ), now trading futures. Never going back.
It does seem to be one way traffic, from what everyone says? People who become successful with forex switch to futures, but nobody switches back?
Its all about knowing where the markets are doing so if we know what we are doing, means we know about trading and making money out of it, then we can trade any asset class with confidence and make money on every single trades.
No losers at all?! Good luck with that!!
I can say for sure that you have not even traded on a demo account! you have absolutely 0 information about trading! please avoid commenting such funny jokes, some may take it serious and this can harm them.
But you can lose everything in future very quickly the risk is more over their
Lol, the irony of it!
For most retail traders, most of the time, futures are actually FAR safer to trade than CFDs.
No real comparison at all!
Your trades are in a real market, every broker has the same prices at the same times, everything’s transparent and legitimate, and it’s a safe, reliable way of combining high leverage with effective, customer-protecting regulation, as well.
The most important factor is just that with futures, your broker actually IS a broker, not a counterparty, and is incentivized for you to win, not to lose!
This is among the many reason why more and more profitable CFD traders are gradually switching over to futures.
Have you ever heard of anyone switching back, from futures to CFDs? (I haven’t, either!).
Isn’t this true of forex CFD brokers as well?
No.
They can have different prices, because they’re different products. One is an objective, exchange-determined price and the other is a contract with a counterparty dealing in their own products of which they control the prices.
This is why it’s so common to see forum threads where people post charts showing/complaining how their trade was or wasn’t stopped out by their broker while other brokers had different charts and prices.
And how their trade did/didn’t hit its target while other brokers had different prices.
And the spreads vary hugely, too, sometimes even from second to second, which obviously affects all your transactions.
And slippage is very different, too.
The differences are often small (but occasionally big!) but they’re real.
They’re two different worlds.
Futures are like stocks: there’s an objective, verifiable price. Your broker really is a broker, not someone against whom you’re betting while they hold your funds and determine the prices.
There are far more pairs/combinations available to trade, if you trade forex CFD’s.
For example, while someone wanting to trade GBP/USD could do so with either CFDs or futures, if you wanted to trade AUD/JPY using futures you’d be out of luck.
There are AUD futures (called 6A, same thing as AUD/USD) and there are JPY futures (called 6J, same thing as JPY/USD, note not USD/JPY), but you can’t directly trade AUD/JPY using futures, only forex. And there are loads more like that, too.