What is Forex?
Forex is an international over-the-counter market, where speculations with currency pairs are made. Due to the high liquidity and volatility, trading on the foreign exchange market has become an additional source of income.
Forex trading is a rather popular way of earning. If earlier the currency market was available only to large banks and financial institutions, today everyone can start trading and earning money. To do this, choose a broker, register, open a Forex account and make the first deposit.
For efficient and profitable trading, it is important to choose the right type of trading account. If you are a beginner, you can start with a demo account. Demo-trading is a simulation of real Forex trading, which is intended for practice. Demo account does not require investment, which allows gaining experience in online trading, as well as testing your strategy without any risks.
You can also start with Cent accounts. Unlike other accounts, the balance on this trading account is displayed in cents.
There are various types of accounts on Forex. Trading accounts can differ depending on the e xecution method, margin requirements, initial deposit, spreads, leverage, pricing format.
What to consider while trading on Forex?
Before opening a trading position, it is necessary to analyze the situation on the market. Analytics is an important aspect of trading. You can analyze the market yourself. If you are not confident in your abilities or just starting to get acquainted with the currency market.
A reliable broker is a key to success
To start trading, just open an account on the official website brokers. Then download a trading terminal platform MetaTrader 4, developed by MetaQuotes SoftWare Corp. There are desktop, mobile and web-based versions of the terminal that provide easy access, comfortable trading and constant monitoring of transactions. You can download it for free here.