Now on today’s post we are going to give you some helpful tips to kick start your Forex trading.
Choose a trusted trading broker
It is essential to choose a trading broker that provides a reliable trading platform. You can filter them by checking whether or not they are well established and allow maximum leverage. Forex.com and Interbank Fx are a few of many trading brokers that we think are pretty well established. With Forex.com you can enjoy minimum capital entries for the live account for as low as US$250. They also provide different trading platforms and useful tools such as Forex Trader, Wireless Trading nad MetaTrader 4. MetaTrader4 is a user-friendly trading platform and most importantly, it has a stable connection.
Open a Forex demo account
We recommend to start trading with a demo account before you go “live”. A Forex trading demo account allows its user to use fake money to practice trading with real / “live” data. The reason in quite obvious – start with a demo account so you can practice and get yourself familiar with forex trading without losing your real money.
Know the fundamentals of Forex trading
Forex trading can be very daunting for beginners. That’s why it is best to start trading with a demo account (as mentioned above) and at the same time learning the basics and fundamentals of Forex trading. You can gain some knowledge regarding Forex fundamental analysis and technical analysis by reading Forex-related articles, blogs about Forex, books or ebooks. You can start trading once you get a grasp of Forex trading fundamentals.
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