Spend 10 minutes Googling around and you’ll find thousands of offers promising you unbelievable returns, day in day out.
Unfortunately, real trading looks nothing like this and if you buy into that nonsense, you’re buying into a complete and utter lie.
Here is how we are different.
We trade for profit, not brokerage
We aren’t pushing you to trade frequently. In fact, we might take just a couple of positions a month. This is exact opposite of what you’ll hear and see from trading educators who are incentivised to see you trade a lot, and lose. Remember, the chances are that your retail broker is taking the other side of your trades. Your trades aren’t being pushed into the market, your broker is just taking th other side. For example, if you go long on the EUR/USD, your broker isn’t looking for someone else to sell you that contact, he is just selling it to you, taking the other side, charging you spread and comissions, and expecting that you will lose. This is known as “B Booking” or “Over The Counter (OTC)” trading. Do your own research and see how the game works. Your loss is his profit, because he knows that the chances are very good that you will just lose.
Our trading community is about making more than we lose. We aren’t promising $10,000 profits off $200 accounts because that’s just an outright lie. Our focus is on the process, discipline and patience. Results follow through from keeping your head down and following the process.
If we’re up a few percentage points each month, we’re doing it right, like the professionals.
Get rich quick
You cannot and will not get rich quick trading forex. Forget the fast cars, piles of cash and blingy watches you see on Instagram. Trading is a profession, like any other. If you don’t approach it professionally, forget about it. If it looks to good to be true, it is.
Use whatever broker you want
We do have several broker partners that we work with. We can recommend them to you if you’re looking for a broker. But we aren’t insisting that you use any of our brokers. You must decide who is going to hold your money. Do tight spreads matter more than reputation and reliability? This is your money at risk, after all.
If you lose, we lose
If you aren’t consistently profitable, we’ll lose you as a client. Think about that for a second.
PracticalPips’ lead trader is regulated under the Financial Services Board, through Unum Capital (FSB No. 564), to provide advice and intermediary services. See if you can find another FX trader with the same credentials.