The first broker I met, an unsuccessful and successful broker, was especially helpful. He has been trading for years and is currently being held in some type of financial jail. This broker always made his clients look like millionaires, but he would rather sell them out in the end.
In his opinion, Forex blogs are not a thing of interest. Most times, they would tell you exactly how a trade went. You may even have heard of bloggers that would only post their personal views and would never trade with you. They would do this because they were under the impression that there is a "black hat" practice.
Not so, brokers always advised those who wanted to make profits from trading platforms to trade with them at all times. And these brokers would not hesitate to say so.
So, why would a broker recommend a Forex blog, when that broker himself does not even trade? Well, this is where things get interesting.
The brokers would always put a link to their BrokerAdvisor website, so that their clients will have an idea of what type of brokers the customers were dealing with. All of the brokers would always tell their clients that they will never trade with them if the customers do not have the right brokers.
The reason for this was simple, all US brokers are required to work on the "black market" exchanges. When you put all your trading platforms under one roof, then all brokers will receive the same income. So, they all recommend one particular broker. Brokers will also advise their clients on how to trade with them. If a customer makes a trading error, or does not execute a trade, they are the ones to call them out.
So, if a trader makes a Forex blog, it means that he is a competitor, and a counter-measure. They also offer their own services to their customers as well.
They will offer tutorials on trading the programs, and they will also offer their own products as a form of advertisement. These products will help traders learn more about Forex trading.
The truth is, you can make a lot of money by just using a Forex blog. By combining two websites, they will serve as advertisements for each other, as well as teaching a novice trader how to trade effectively.
Brokers will also tell their clients about their educational offerings and software. This way, they do not have to have a broker make money off of their products and services.