These guidelines will be of assistance to beginners in FXCM Markets trading.
These are three tips for currency trading novices
Tip 1 – Choose a trusted broker who can provide reliable trading platforms.
It can be difficult to find a great Forex brokerage. I choose a broker with the best reputation and highest leverage. Forex.com has the best live account capital starting at USD250. Forex.com offers many trading platforms, tools and options such as Wireless Trading and MetaTrader 4. Metatrader4 is the one I prefer because it’s easy to use, has stable connectivity and is very user-friendly.
Tip #2. Open a Forex demo to begin currency trading.
Demo accounts give users the opportunity to use “playmoney”, to practice trading real data. Forex traders should have the ability to trade live data without losing any real money. Beginners can open demo accounts to practice forex trading. Leverage is a ratio of 1:200. Leverage refers the percentage that you can borrow money from Forex brokers. The amount you deposit demo should equal your future live balance. Demo trading can begin with USD250
After MetaTrader 4 is downloaded, you will be ready to click on “File”, then “Open an Account”. To open an account, you will need these details: Valid email addresses are required for account approval. After creating your demo, you will receive your login ID & password.
An absolute beginner will find trading difficult. Information on foreign currencies can be found online. Many blogs and articles will be available on this topic.