Why Forex?
It’s a never-ending and never-halted venue to make money as well asbusiness. When you have clear strategy/experience/information in your arsenal you can make quickly make money with as little effort as possible.
What you need to become a Forex trader?
A hassle-free online Forex trading account. More importantly a thorough learning in a demo account to get acquainted with the use of a vendor-specific trading platform.
How Forex works?
In Forex you sell a currency and buy another in return. When currencies go up and down in value that is where the profit can be made. There are many Forex major currency pairs that you can trade. Currency prices usually change by less than 1% during intraday trading. But you can amplify your profits by taking appropriate leverage.
Who is the best broker to start with?
I personally experimented various industry-leading brokers trading platforms and found FxPro webtrader to be the best interface. Destuche Banks MetaTrader4 also has the best terminal interface.
What’s next?
You need to learn the basic terminology of Forex and the types of brokers, as not all act the same and not understanding may leave you caught out. For example, an Introducing Broker and a White Label Broker have different advantages and disadvantages that you need to be aware of if you are going to select a type to use.
It is also important to understand all calculations involved to arrive at the profit figure. Every Forex platform provides profit and other calculations readily only by knowing the underlying formulas you can be sure that you getting all the money you deserve.
-Govardhan
