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Forex is a global financial market that allows people to trade currencies and earn profit from the price differences. More
Forex market is a place for buyers and sellers to trade currencies from countries all over the world. From central banks to retail traders, they can act as buyers and sellers with different purposes in the forex market. More
The Forex market is driven by 2 things: macroeconomic factors and big players. Macroeconomics affects market sentiment to buy or sell currencies, while big players have a big influence because they trade currencies in large volumes. More
Forex trading is popular because it offers the opportunity to gain profit and is accessible from any device whenever you want. There's also a demo account to practice for beginners. More
Yes, you can get rich in trading by using leverage the right way. This feature allows you to gain big profits even if you only start with small money. More
To experience how the forex market feels like, you may use a demo account, a free platform where you can simulate with real-time price movement without risking real money. More
In order to master forex trading, you need to seriously practice and learn to trade on a demo account until you can manage your emotions and make consistent profits. More
Some skills you need to conquer are using the forex software, memorizing the forex glossary, knowing how to read the forex market, finding the right strategy, and having the courage to ride through the price waves. More
The most popular software in forex trading is MetaTrader. In order to trade well, you also need to understand some important glossaries like Bid, Ask, Stop Loss, and others. More
Reading the forex market can be done in 3 ways: observing trading sessions and looking for the best time to trade, reading charts using technical analysis, and utilizing fundamental analysis. More
Practicing forex trading begins with mastering the initial trading knowledge, knowing trading risks and strategies, as well as applying the trades with discipline. More
You can start riding on the forex wave after arming yourself with the necessary trading skills and knowledge, such as earning consistent profit and having your own trading strategy, so you won't sunk by the unpredictable wave. More
To begin your trading journey, you need to download and install a demo platform. The easiest way is by learning how to use the MetaTrader platform appropriately. More
The bid-ask spread is the difference between the bid and ask prices of a currency pair. It is a trading cost that is automatically applied for each trading position. More
Pip is the change in the value of a currency pair. Since currency prices usually move little by little, they are quoted in pips. Traders often use pips to refer to profits or losses. More
Lot is the measuring unit of volume in trading. It is used to represent trading sizes in a forex platform. The standard lot usually equals 100,000 base currency. More
Leverage is a benefit from brokers that can boost your trading power by allowing you to trade more than your initial funds. It is represented by a ratio that compares the amount of your funds to the amount you can trade. More
Margin is a small number of capital traders use to maintain a position. It is a part of the trader's account balance set aside to keep the position open. More
Technically, you can trade anytime during business days, 24/5 from Monday to Friday. But the best time to trade is mostly during the overlapping time of New York and London markets. More
European market is the most dominant market in the forex industry. It covered about 36% of the global market. More
In forex trading, a chart is a tool to show the historical price of a currency pair. The most well-known types of forex charts are line, bar, and candlesticks. More
Candlestick is a price chart formed by Open, High, Low, and Close prices. The color od the body can represent bullish or bearish market condition. Traders use the candlestick chart to analyze possible price movement based on past patterns. More
Technical analysis is a way to understand the market using historical price movements. Traders can sometimes use indicators to get better analysis results. More
Fundamental analysis is a type of analysis that uses macroeconomic factors and how they influence market sentiment. Political and geographical conditions may also affect fundamental factors in forex analysis. More
Technical indicators that are already made in MT4 are technical tools available for traders who trade on the platform. It can be accessed for free and displayed on the charts for analytic purposes. More
Risk is the probability of losing part or all of your investment. In forex trading, you can risk losing money if the price goes against your trade and you exit from the market in a losing position. More
Fear, greed, hope, and regret are the four most dangerous emotions in forex trading. The psychological effect can lead to devastating losses if not managed properly. More
An important tool to enter and exit the market, a strategy template is a plan to analyze and execute trades with a certain method. It usually includes the date of the trade, reasons to enter the market, as well as the price levels of trade executions. More
The perfect time to finish practicing in a demo account could be after earning 2% returns consistently for 4 to 6 months. The percentage is realistic as the average profit rate of most forex traders realistically. More
Traders should start learning about brokers as early as possible. But the ideal time to really get into brokers would be right after practicing in the demo account because around this time, traders would search for the right broker to open a live account and applying their strategies using real money. More
Forex brokers have several main jobs to do, but they are mostly recognized for their roles in providing individual traders access to the forex market. More
Not if you are a retail or individual trader. Firstly, you would need a large sum of money to enter the market. Secondly, you must use a trading platform that will only be available from forex brokers. More
You can start from as low as $1 or $500, depending on the broker you choose. But for the ideal amount, it is best to prepare at least $100 so you can have more trading power in the market. More
In order to find out among the many choices of brokers in the market, there are five important factors to consider: compliance with regulations, account features, currency pairs offered, customer service, and trading platform. More
Forex broker regulations are regulations drawn up by independent or government-owned institutions to supervise forex brokers and maintain their compliance with law and order. Boker regulations ensure that traders can trade in a safe environment. More
You must choose a forex broker with the top tier of regulation because not all forex broker regulators have been proven responsible. A few examples are NFA/CFTC, BaFIN, FINMA, JSFA, FCA, and ASIC. More
There are many choices of brokers in the market. To find out the right one, check their licenses and regulators and make sure that the broker accepts clients from where you live. Also, it's important to examine their trading conditions and features. More
According to their types, you should avoid false brokers, MLM (Multi-Level Marketing) brokers, and copycat brokers, and problematic brokers. More
Yes, there is. Some scams are exposed and brought into the media for their huge amount of losses. One of the most highlighted scams in the forex industry is Forex Probe which accumulated a total fraud of more than $4 trillion. More
Based on the largest number of traders and volume, RoboForex and BDSwiss are often regarded as two of the most popular forex brokers. More
There are at least three forex brokers that provide the best trading conditions for beginners, namely InstaForex, FirewoodFX, and Forex4you. More
InstaForex, RoboForex, and Forex4you are great examples of brokers that only require small minimum deposits of $1-$10. More
For easy demo trading setups, you can refer to InstaForex and FirewoodFX. Those three are ideal for beginners, so their demo account process is set to be as simple as possible. More
Popular brokers such as FXTM, RoboForex, and LiteFinance welcome traders with easy registrations. You don't need to answer difficult questions or prepare ID documents from the start. More
Firstly, you need to decide which will be your preferred deposit method. It can be bank transfers, credit/debit cards, or e-wallets such as Skrill and Neteller. After that, you can log in to your trading account, fill out the deposit form, choose the method, transfer the fund, and wait for the fund to be deposited into your account. More
Withdrawing funds from forex brokers can be processed via bank transfers, credit/debit cards, and e-wallets. You can log in to your trading account and request a withdrawal from there to start the process. It usually takes longer than deposit transactions, around 1 to 5 business days. More

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