The following guidelines will help you if Forex is new to you.
Beginners’ guide to currency trading
Choose an established trading platform that is reliable, read more here.
The search for a top Forex broker can be difficult. My preference is to go with an established broker offering maximum leverage. Forex.com was my choice as you could have a minimal capital on your live account of up to USD250. Forex.com is a trading platform and tool provider that offers a number of options, such as MetaTrader 4, Forex Trader Trader, Wireless Trading and Forex Trader. Metatrader4 is my favorite because it has a stable and easy-to-use connection.
Tip 2: Start trading currency by opening a Forex demo account.
Demo account gives users the opportunity to test their trading skills with “playmoney”. The forex trader needs to be able practice without losing any real money. Forex beginners can open a demo account. Leverage in forex trading is 1 to 200. Leverage is the percentage of borrowed money that you are able to borrow from an Forex broker. It is important that the amount you deposit for your demo account should match your actual future balance. Demo trading is possible with just USD250.
If you downloaded MetaTrader 4 and have it installed on your PC, then you can click the “File” menu item to “Open an Account”. If you want to create an account, then you need this information. You must provide a valid email address in order to approve your account. After creating your demo, you will receive your login ID & password.
Tip No. 3
For a novice, trading can be difficult. Information on foreign currencies can be found online. Numerous blogs and article will be available on the subject.