There are two important safeness aspects. Safeness of the broker and safeness of trading strategy. Let’s focus on them individually.
Safeness of the broker
We use one of the biggest and oldest Forex broker. Alpari has more then 17 Years of experience, 3 international licenses, and more then million clients Worldwide. There are many small and new brokers that offer better trading conditions, but I prefer reliable brokers with reputation and Years of experience.
Regarding deposit and withdrawal options, you are the only person who can deposit and withdraw your money, and you can do that by one of the following ways:
- Bank Wire Transfer
- Credit/Debit cards (Visa, MasterCard)
- Electronic Payments (Skrill, Neteller, WebMoney…)
Safeness of trading strategy
I DON’T use martingale, hedging, grid trading or any kind of dangerous strategy. Such strategies work fine during limit (usually short) period of time, but at the end the result is always very big loss, or even loss of whole account. That’s a gambling and not professional trading.
Every transaction is protected by Stop loss, and risk per transaction is only 1%. That’s very conservative approach, but as I have already mentioned in some places, my first goal is to protect the capital, and after that to generate the profit.
Also, I use a few backup systems (one of them is VPS) in case if my computer run out of electricity or something else happens that could prevent me to monitor my transactions. That way I can continue trading even during the most extreme situations.
Managing all aspects of risk is the only way to success on Forex Market.