I won’t tell you how to trade Forex. How to succeed in Forex. Trading based on trading sessions provides the trader with a number of benefits

I bring to your attention a translation of an article by professional Forex trader Neil Fuller.

“If you are currently losing money in the Forex market, then today's lesson is for you. We all have losing trades, it's just part of our job, but if you see yourself losing more than you're making and you don't know how to stop it, you're probably in big trouble and need drastic measures to stop this. I'm going to give you a two-part program in today's article, and I hope you will understand that you need to stop and not lose more money than you make in the financial markets.

Part One: Learn to Control Your Mind

The main reason why most Forex traders lose money is because instead of consciously controlling their emotions, controlling all aspects of trading, they become hostage to emotional trading. This is mainly because emotional trading is easier and trading without discipline gives more adrenaline.

The foreign exchange market essentially offers traders two options:

1) Spend your money and ride up and down the emotional rollercoaster of trading.

2) Learn to control your mind, become a disciplined trader and make money slowly but consistently over time.

I'm guessing your goal is to become a disciplined trader so that you can learn to have the right mindset so you don't lose all your money in the market like many traders do. Let's look at two main aspects of mastering correct thinking:

- Understand and implement proper money management in the Forex market to learn how to control your mind.

If you want to achieve a proper Forex trading mindset and become a master of your own emotions when interacting with the markets, then the first thing you need to do is understand and implement proper money management. The reason why many traders become emotional when they trade is usually because they are either risking too much money or they are trading too often.

When you risk too much money on one trade, you initially place a lot of importance on each trade since you have more to lose, this naturally makes you worry more about the trade and you become more emotional. This way of trading works and feeds itself, which causes even more emotional trading. When you lose too much money on one trade, you put yourself in a very vulnerable position. You feel a lot of frustration and anger about the amount of money you just lost, and this will act as fuel that will fuel your desire to continue taking risks in order to try to win back the money you just lost. If you want to avoid emotional trading, you must learn and become a disciplined trader.

Another way traders can ruin their trading account is by trading too often. Many of my students are surprised when I tell them that I average about one trade per week. Sometimes I can take two or three trades a week, and there are weeks when I don't take any trades at all. The fact is that most traders trade too much so they lose money in the long run, I don't think this is just a coincidence.

When you trade too much and too often, you are not working, but gambling. Therefore, in order to stop runaway trading, you must learn to control your emotions with a risk management plan that includes information on how you can avoid overtrading. Perhaps the best way to avoid overtrading is to know exactly when to enter a trade, and also to take a break after each trade, no matter whether the trade was profitable or unprofitable. Your trading plan should have everything spelled out so you never enter a trade that doesn't meet the standards you've thought through in advance.

— You need to develop a plan and have a trading journal to learn how to control your mind.

In the previous section, we discussed how understanding and practicing proper money management helps control the mind. Now let's talk a little about how to maintain this skill once you have mastered it.

Two essential trading tools for maintaining control of how you trade the markets are a trading plan and a Forex trading journal. As we discussed earlier, having a plan that outlines all the details of your trading strategy is critical to objective and logical trading. You should not enter a trade without a good reason, you should be faithful to your trading strategy.

Another basic tool for maintaining the proper mindset when trading the Forex market is a trading journal. It is necessary to keep track of all your transactions, record them in a journal that reflects your ability to remain disciplined, this will also help you in reporting. By creating a log that records all of your Forex trading activities, you will have evidence that you are trading properly. If you diligently update and use your trading journal, you will see for yourself whether you are truly trading with discipline, and if you are trading with discipline, you will not want to ruin your trading with emotional mistakes. Most traders just don't feel like they have to create a trading journal, most traders also lose money in the markets, again I don't think this is a coincidence.

Part Two: Become a Master of Your Trading Strategy

The next thing you must do to stop losing in the Forex market is to become a true master of your trading strategy. I believe that many traders are looking without knowing what, this leads to emotional trading as they start trading everything that moves. If you haven't thoroughly studied your trading strategy, you are likely to overtrade.

Give yourself time to learn each strategy.

The first step to properly mastering any trading strategy is to gradually master each aspect. I teach traders who study my strategies to master one price pattern thoroughly before moving on to another. This way they learn each pattern to the fullest and don't overwhelm their brains with too much information, this "specialization" allows for a deeper understanding of each strategy I teach. A true professional in any field tends to make the most money. Thus, I highly recommend that you master one strategy first to become an “expert” in each one.

Be a sniper in the Forex market

Once you have mastered the trading strategy, it is time to trade. Unfortunately, many traders lose at this stage because they do not have the patience to trade. You must learn to choose trades wisely and not trade too often; it is better to trade like a sniper rather than a machine gunner. Most traders trade like machine gunners and quickly run out of “ammo” (money). If you want to make money over the long term, you need to only take trades with a high probability of profit that you have mastered and then detailed in your trading plan.

— Focus your efforts on daily charts.

Finally, the last piece of advice I have for you to stop losing capital in Forex is the less the better. Trading less often is almost always better than trading often. The market isn't going anywhere, don't worry if you miss a good pattern, it's a marathon, not a sprint. You must first learn to trade on the daily charts, and really accept the fact that the smaller the time frame, the less probabilities there are, since there are more noise price movements there, as opposed to larger time frames. Most traders mistakenly believe early in their trading career that they will find more opportunities on smaller time frames. In fact, they trade bad patterns, look at charts too often and, as a result, trade too much.

Perhaps the best thing you can do right now to stop your losses is to go back to day trading, and go back to demo trading until you have a truly effective trading strategy."

Good day, dear readers of the blog site!

Can't sleep at night because the question of how to start trading Forex haunts you? Are you already seeing millions in profits and consider yourself the best market analyst? Great!

Unfortunately, now there are a lot of dark companies that simply extort money from gullible pensioners and even mature men and women. People literally tear their hair out after collaborating with them, so you need to be very careful when choosing.

We will work out all the material about analysis skills that I will give you on a demo account, we will open it on the website alpari.com, in this review we will find out whether this broker is cheating and whether he is secretly stealing money from traders. Now we are simply using it for our own selfish interests.

Opening an account

You should always open a demo account first, especially if the broker provides its own trading platform and you have no idea about it. When all the skills have been worked out in detail on the demo version, you can move on to real accounts.

All beginners ask how much money to start trading with? About this and about protecting 90% of money in the next block of the article (that is, below, after the instructions).

Selecting an Analysis Method

To open trades, you need to make assumptions about how the price dynamics will change: whether the market will rise or fall. Today, in an endless struggle between themselves, there are two areas of analytics: technical and fundamental.

Is it possible to trade without investment? Foreign brokers often offer bonuses with which you can start opening transactions without investing anything at all. There is no point in climbing into this hole; we will discuss the reason in the article.

There are companies like United Traders or ForexStart, who give money for trade, free of charge. But getting them is not so easy. In the first case, having completed training in a company on the stock market for $1,500, you will receive an account of $20,000, which will go to your management (not bad, right?) But they can easily be taken away if there are losses, this is monitored by risk -managers.

To receive money from ForexStart, you need to trade on a small deposit (it is given by the company), make a profit, after which the deposit will increase. If you reach the maximum drawdown (and it is not particularly large), that’s it, the opportunity to earn will be exhausted.

As a rule, you cannot trade on the stock exchange without investments. But if you gain experience and become a real trading professional, the problem of finding funds will disappear by itself. In addition, you will be able to repeatedly increase your deposit, even if not from scratch, but from a very small amount. Fortunately, a number of top brokers provide very, very good training opportunities, but more on that in future texts.

Tired of boring theory? Can't wait to start trading? Let's install the terminal and open a demo account. You can even go ahead and open your first trade, relying on intuition (but I don’t recommend it, because extra stress didn’t help anyone, and you came to the market not to play, but to earn money).

Forex trading terminal – where to get it and how to install it

The terminal is the trading platform through which you will open transactions on the stock exchange. You need to download it from the website of the broker you have chosen as your eternal companion. As I wrote above, you and I will choose Alpari company, to learn trading from her example.

The registration form is nothing special: enter your first name, last name, phone number, address, and the like.

Information about your place of residence is needed not so that the broker can come to you if you are in debt and remove your furniture, but so that you can contact the company’s office for support and advice.

Usually managers call new clients and ask if they need help, etc. Tell them that you want to learn Forex and for now you plan to trade on demo accounts.

After registration, log into your personal account using your email address and password, which will be sent by email.

In your personal account, find the “Platforms and Applications” tab, click “Download MetaTrader Platform”.

There are three options, let's download the fourth version of MetaTrader for now.

The software is downloaded and installed like any other program. After installation, you need to launch the terminal to start working.

We will make a wide variety of settings for the trading platform as needed, in particular, we will introduce a number of improvements in the next article. Now let's just learn how to open accounts and “see” the chart as needed.

At first, you will see the following in the terminal window (without open transactions, of course).

What do you think, green stripes on a black background? Prices? Absolutely right. And in the upper left corner the currency pair to which these prices correspond is shown. Our currency pair is USD/JPY (Dollar/Yen). The price (more precisely, the dynamics of its changes) can be shown by a line, bars or Japanese candles.

In the images above, the chart is represented by bars, the line will look something like this.

Basically, Forex analysts and traders use Japanese candlesticks as the most informative option for displaying price dynamics.

Displaying fluctuations with a line is not informative either for professionals or for beginners. Click on the Japanese candlestick icon and don’t change anything else, since in absolutely all articles we will learn exclusively from candlesticks.

The chart can be narrowed and expanded: the “Terminal” window, as well as everything on the left (“Navigator” and “Market Watch”), can easily be moved to the sides and even removed completely if you click on the border between them and the chart and move it, or to the “cross”.

You are unlikely to need “Navigator” and “Market Watch” in the near future, but you cannot do without “Terminal”, since it reflects open transactions and their profitability/lossability.

If you accidentally closed one of the three windows and broke out in an icy sweat from the horror of an irreparable loss, click “View” and calmly return them to their place.

Let's finally define what candles are. Click on the graph and press “+” on your keyboard to enlarge it and get a better look at the picture. The candle appears to have a body resembling the wax part of a regular candle and two wicks on either side. Sometimes the body of the candle may be missing (there will be just a line), sometimes there are no wicks.

If the body of the candle is the same color as the chart itself, then this candle shows a rise in price, its increase. Subsequently, we will call such candles “bullish”. If the body is shaded, that is, different from the color of the chart, it means that the candle shows a decrease in price, it is “bearish”.

A candle is a price change over a certain time. We have a five-minute chart (shown in the upper left corner), therefore, each candle shows how much the price has risen or fallen in five minutes.

For example, in the screenshot below we see four shaded candles (they are white, but the chart is black, so they are considered shaded relative to the chart), therefore, the price was falling. How long did the fall last if the chart was five minutes? Five minutes multiplied by 4 candles, it turns out twenty minutes.

What are bodies and wicks used for? One border of the body shows where the candle opened, the other - where it closed. For example, at 15:00 the dollar was worth 115.237 Japanese yen, at 15:30 it became worth 114.962. How did we determine this? Draw lines along the upper and lower borders of the candles.

If the candle is bullish, that is, growing, its lower border shows the price that was at the beginning of the formation of the candle, when the next five-minute period began (let's say at 15:00), the upper border shows the closing price of the candle (at 15:04:59). If the candle is bearish, the opposite is true.

The wicks show where the price was during the time interval. The first bearish candle analyzed on the chart opened at a price of 115.237, but its wick can be seen rising above the body, that is, the price did not immediately go down, but fluctuated for some time, rising above the opening level. By the way, traders usually call wicks shadows, which would be more correct.

Didn't get it? Ask in the comments - I will explain in more detail. Or wait for new posts - in the process of constantly working with candles on charts you will be able to “crack nuts”!

What if we want to see price fluctuations not over 5 minutes, but over a minute or a day, a week? There are special icons for this. In general, a time interval is usually called a timeframe, so expand your vocabulary.

The following timeframes are available in MetaTrader: 1 minute, 5 minutes, 15 and 30 minutes, one and four hours, one day, one week, one month. You can easily switch between them.

If we look at the minute chart, we will see a more detailed picture.

If you don't really like the color scheme, change it. To do this, right-click on the chart window and select “Properties” from the drop-down list.

The “Black on White” color scheme looks good. In principle, you can paint the candles any color.

In “General”, check the box next to the phrase “Show Ask line” - it won’t hurt to see it, it’s especially important for beginners. If you want, leave the net, I usually remove it because it gets in the way.

The result of the work done.

Don’t be afraid of the large spread: on the USD/JPY pair it is tiny, I’m just writing the text on Saturday, the market is closed and the terminal displays this picture.

You are planning to trade multiple currency pairs, right? But does setting up every chart seem like too much of a tedious process? You can make it easier by creating a template. To do this, right-click on our chart (already put in order), click “Template” - “Save template...”

We save our creation to the opened folder. Name the template so as not to confuse it with any other.

Now we open in the terminal the chart that we want to redo, right-click again, select “Template” and the form that we saved (“My Template”).

Everything turns out simply amazing.

How to open a demo account for trading?

You can open a training account directly in the terminal - click “File” and select “Open account”.

We need a “Demo” server; it is the only one in the general list.

You can leave all the settings as they were – your account currency will be USD, your leverage will be 1:100. Consent to receive news by mail must be given.

Now everything is ready - save the data somewhere, close the window.

In the window that opens, indicate the account number, password and server (we always use Alpari-Demo).

In principle, I consider our post today complete: I gave you a number of tips, described a plan according to which we will study the market. We downloaded the terminal and figured out (I hope) what Japanese candlesticks are. This is still a very small portion of the necessary knowledge, but everything is ahead.

Below are the thoughts that I extracted from four years of playing on the MICEX exchange (although it does not matter which platform to play on) and Forex. My own observations and conclusions will be presented below; you may have other thoughts, different experiences. So, here is my selection of tips for playing the stock market.

How not to lose money on Forex

1. To make money on Forex, it is not at all necessary to monitor all available pairs, metals, commodities, etc. It is enough to choose one volatile pair and play only on it.

2. The most difficult thing in playing on the stock exchange is choosing the moment to sell. You will always have time to buy an asset, but you won’t always be able to sell it with a profit. The same rule applies to bearish play.

3. You can always make money on Forex. The only condition is the presence of volatility in the market. Therefore, it does not matter what trend the market is in: upward or downward, or generally flat. It is only important to be able to identify the stages and apply the appropriate strategies for each of the three cases.

4. On the stock exchange, the only goal of the game is to accumulate capital. Selling at a small profit or at a loss means that it’s clearly time for you to reconsider your playing tactics.

5. Buying something at a price that suits you is a very risky business, which will most likely bring losses or small profits. The important principle here is to know (predict) what others think, and not what you think.

6. The market can sometimes be very unpredictable. If you have no idea what to do, then it is better to do nothing.

7. If there is a rush on the market for all assets or for some individual assets, then it is better to refrain from purchasing. If you have something in your portfolio that is experiencing a stir, then this is a good reason to sell it. Remember that those assets for which there is a rush will most likely roll back down by at least 50% from the start of growth in the near future.

8. Try to buy as cheaply as possible, then it will be easier for you to sell this share for a greater profit. Do you think this is obvious? For many, this is not obvious, since the desire to buy often outweighs the common sense of waiting a little longer, and as a result, they end up in the red.

9. For the stock market to grow well, it first needs to fall well.

10. One of the stupidest decisions when trading is to set a sell stop price at the support price. The big player will use your stop to build up his portfolio. Most likely, you will simply find yourself left out of a major movement. This rule will be understandable only to those who understand what is generally happening in the market.

11. Try to predict price behavior. In fact, you can often roughly predict her character.

12. Focusing on one oscillator is at least not reasonable. Even in the aggregate of several oscillators, it is impossible to say for sure that the price will rise or fall.

13. Do not buy with all leverage at once. Remember that the strongest signals come only in those moments when there is no more money. This is a typical law of meanness.

14. Learn to wait patiently. People who take their time win on the stock market. As one millionaire who made his fortune on the stock exchange said: “I got rich not because I was lucky, but because I knew how to wait.”

15. If you earned 1%, but could have earned 5%, then try not to reproach yourself for this. Think about the fact that you could even lose funds. When playing on the stock exchange, you don’t have to be a maximalist - this is harmful to your inner self-esteem.

Three main misconceptions about the Forex currency exchange have become widespread among novice traders. These are the three myths:

• Forex is like roulette in a casino, where winning is a matter of chance.
• If someone wins in Forex, it is because someone necessarily loses.
• If two brokers have different quotes, then one of them is definitely the “kitchen”.

Let's deal with all these myths.

Myth one. Forex is a casino.

This myth arose among those novice traders who, instead of focusing on developing their Forex trading system, got carried away with trying to predict the behavior of currency pairs in the future. This path seemed very simple to them.

In fact, why invent some kind of trading system when you can predict whether a currency will rise or fall and, depending on this, buy or sell it. This is a very superficial knowledge of Forex and a very superficial knowledge of financial management. A person does not want to go deeper into knowledge and it seems to him that learning to predict the behavior of a currency is a very quick way to make money on Forex.

But Forex is a system. And you can only oppose this system with your own system. If you do not have your own system for working on Forex, then even if you correctly predict the course of the currency in 80% of all cases, you risk losing your entire deposit. This will be simply because without a system, when you correctly predict the course of the currency, you can earn little, and when you incorrectly predict the course of the currency, you can lose a lot. This can happen due to various kinds of accidents, against which you can only insure yourself with a system of working on Forex.

A beginner who does not have a system that insures him against accidents discovers that his earnings on Forex are very dependent on all kinds of accidents. This, of course, reminds him very much of playing in a casino. As a result, having squandered all his money, a person leaves the exchange in full confidence that Forex is a casino, that there are no patterns here, that everything happens by chance.

Such a person in the future may begin to explain his unsuccessful attempt to make money on Forex to everyone not by the fact that he was too lazy and very greedy, not by the fact that he wanted quick big money, but either did not want to work on the system or did not have enough brains, but , that he was allegedly deceived, that he was lured into the casino without warning that Forex is a legal version of the game of roulette. And so, we see another loser, angry at this whole world, who litters forums on the Internet with his posts that Forex is a scam.

Myth two. If someone wins on Forex, then someone must lose.

This myth follows from the previous myth. In fact, if Forex is a casino, then Forex participants play with each other. They do not produce anything, they have no added value. This means that the money is simply redistributed between participants in the Forex exchange.

They usually give the following example to explain their views. Let’s say you and I each have one thousand rubles and we sit down to play cards or roulette with each other. It is clear that if at the end of the game I leave with one and a half thousand rubles in my pocket, then you only have 500 rubles left in your pocket. Because money cannot come from anywhere.

This is actually a flawed Forex model. This is a closed system model. This is a system in which the law of conservation of energy is satisfied. In this case, money is an analogue of the conserved energy of labor that earned this money. And any exchange is an open system. Energy is always pumped through an open system. Money on exchanges behaves basically in such a way that a very large flow of money enters the exchange and a very large flow of money leaves the exchange. The flow of money constantly rotating on the stock exchange is not as large as it might seem, especially if we consider large time periods.

Let's consider this example. Let's say I have 1000 dollars, and you have 1000 euros. And we sit together at the same table and from time to time we sell currency to each other. That is, we look at the monitor screen, which shows us currency quotes and at these prices we buy dollars and euros from each other. This is a closed system in which the law of conservation of money is fulfilled. If at the end of the day I have 200 dollars and 400 euros, then you will have 800 dollars and 600 euros. This adds up to 1000 dollars and 1000 euros, as it was from the very beginning. The money was simply redistributed between us, just as in a closed system energy can flow from one form to another, but its amount remains constant.

Now let’s imagine that a person comes up to us who has a lot of dollars, but now he really needs euros. And he doesn’t need these euros to sell them when they become more expensive. He is not a trader. He needs these euros either to buy something in Europe or to go there as a tourist or to spend these euros in some other way. We give him all the euros that we have (1000 euros in total, some for you and some for me) and receive 1,400 dollars for them (at the rate of 1.4000 dollars per euro). So now we both have $2,400. Some part is yours, and some part is mine.

Next, another person comes to our table who has a lot of euros, but needs dollars. Moreover, he is not a trader either. He needs these dollars not for resale, but to spend. We buy only 1000 euros from him at the rate of 1.3500 dollars per euro, that is, we give him 1350 dollars for his 1000 euros.

Thus, the two of us now have again 1000 euros and... 1050 dollars, since we received 1400 dollars for 1000 euros, and gave this 1000 euros for 1350 dollars. Therefore, the amount of money at our table increased. In principle, now it may turn out that I will part ways with you in such a way that none of us will be a loser, but, on the contrary, everyone will be a winner. For example, I will leave not with 1000 dollars, but with 1025 dollars, and you will leave with your 1000 euros plus another 25 dollars.

So, in Forex, the main flow of money comes from such “passers-by” who buy currency not for resale. That is, when you work in Forex, then, basically, you sell and buy currency that comes to Forex not from traders like you, but from “passing” people and organizations that are engaged in international trade, international investments etc.

Myth three. If two brokers have different quotes, then one of them is definitely the “kitchen”.

A scam is usually recognized by the fact that the quotes in the “kitchen” are not at all the same as those offered by serious brokers. Having read a lot of different materials about “kitchens” on the Internet and being afraid of getting into the “kitchen”, a novice trader begins to almost paranoidly compare quotes from different brokers with each other and eventually discovers that many brokers’ quotes do not coincide with each other.

This sometimes leads to some panic and the feeling that all brokers in a row are scammers. But most often a situation arises when a novice trader trusts one brokerage firm that is his standard, and compares quotes with this particular firm. And if a difference is discovered, then the conclusion is drawn that the other company is a scam. At the same time, that other office can serve as a standard for another novice trader. And then this other trader will consider the first office to be the “kitchen”.

If these two get into an argument with each other on some forum, then for other outside observers the situation will look quite confusing. As a result, some novice traders may, just in case, choose neither one nor the other office to work with, although in fact neither one nor the other office is a “kitchen”.

Let's see how the difference in currency quotes between different brokers arises using a simple example.

Let's say we are dealing with a grain exchange in Kansas (USA) and Frankfurt am Main (Germany). If this were the 19th century, before the telephone cable was laid under the Atlantic Ocean, then wheat prices on these exchanges could be very different and highly dependent on yields. For example, if the United States had a very productive year, the price of wheat on the Kansas stock exchange would be very low. And if there was a bad year in Europe, the price on the Frankfurt stock exchange would be very high. And this difference in wheat prices would last for a very long time.

But if there was a telephone connection between Europe and America, then you, being in Frankfurt am Main, would call Kansas and find out that wheat is very cheap in America.

It would seem that everything is very simple. We must buy wheat in Kansas at a low price and sell it in Frankfurt am Main at a high price.

But that was not the case. It may turn out that this wheat in Germany will be bought not by a trader for resale, but by the end consumer, some flour mill. And this enterprise, after the purchase, will tell you to deliver this wheat to them at their warehouse.

But your wheat is not in Germany, but in the USA in the warehouse of an American farmer. It must first be brought across the ocean to Europe. And this costs some money. It may turn out that the money you earned from the difference in wheat prices in Europe and the USA is simply not enough to transport the grain. And then you will find yourself at a loss.

Therefore, MARKET GLOBALIZATION BY ITSELF DOES NOT LEAD TO AUTOMATICAL EQUATION OF ALL PRICES ON ALL EXCHANGES.

In our example, in the case of a very good harvest in the US and a poor harvest in Europe, prices will first really begin to level out. But only to such a difference that this difference still pays for the transportation of wheat across the ocean. When the difference in transportation of one lot of grain reaches, prices on both exchanges will stop moving towards each other.

Thus, the grain market has become global with the help of telephone and telegraph, and prices differ on different exchanges. If you are sitting somewhere in Moscow and trading wholesale grain, then your broker from the USA tells you one price, and your broker from Germany tells you completely different prices.

I specifically took an example here that very clearly shows how the difference in quotes is formed. There is no single center in Forex. Forex is the union of all currency exchanges in the world and all interbank currency trading. It is clear that when there is no connection between all exchanges, currency quotes on different exchanges can differ greatly from each other due to specific local conditions. Let's say, on the Hong Kong stock exchange today someone is trying to sell a lot of American dollars for pounds sterling and therefore the dollars there have become cheaper and the pounds have risen in price. On the London Stock Exchange, on the contrary, today someone is trying to sell a lot of British pounds for American dollars, and therefore the dollars there have risen in price and the pounds have fallen in price.

But if there is a good connection between these exchanges, then the prices for pounds and dollars should, in theory, equalize. But in reality, they never fully align. There is a price for transferring money from Hong Kong to London and back. And this price is non-zero.

Let's say you want to sell euros and buy dollars on Forex. But you work in Forex through a specific broker. This broker (no matter the software or a living person) is looking for the best offer for selling dollars for euros among all offers on all currency exchanges in the world and among all offers from banks in the world that have access to Forex. If the broker finds a counter-offer that can satisfy your request and, in addition, covers the costs of quickly transferring money, then your request will be fulfilled.

But at the same time, according to your application, some even more favorable price quote may not be fulfilled, which is associated with large overhead costs for transferring money to a specific bank in a specific country.

And, conversely, for another broker, transferring money to that specific bank in that specific country may be associated with much lower overhead costs (for example, they have a current account directly at that bank). Therefore, it may happen that while working on Forex through one broker you will sell your euros at one price, and at the same moment, working through another broker, you will sell the same amount of euros at a different price.

And that's okay. This is how it often happens. This is not yet a sign of “kitchen”.

As a rule, the difference in quotes between different normal brokers is very small. But the “kitchen” demonstrates a very strong difference in quotes. To the point that in the “kitchen” there can be a very long opposite trend, going against the trend, which, with some minor differences, is observed with most normal brokers.

As a rule, the “kitchen” does not like to openly display its quotes before you register with the “kitchen”. This is done so that you will not be able to recognize the “kitchen” in advance.

Another option. “Kitchen” shows only quotes in your account, and when you exit your account, the correct quotes. To do this, it makes sense to launch two browsers at the same time and log into your account in one, but not log in in the other and see if there is a difference in the quotes.