With Forex trading account, you can start trade and speculate the price movements with the minimum investment amount of 100 USD$. There are several brokers in the market, some brokers can even offer trader with the less micro cap of 10 USD$ per trade. In Forex or the Binäre Optionen market, there is daily turnover revenue of 4 trillion USD for you to grap it. So, what does it mean to trade forex?
Trading forex is exchanging of one currency to another to gain profit by buying and selling it in over the counter market. Some of the common currencies used in forex market include USD, EUR, JPY, GBP, SGD and CHF.
When trading forex, broker offers trader with different kind of trading platform. Most commonly known platform is MT4. As a beginner trader, you can access this popular platform fully and securely by downloading it from broker website and installing it on your PC.
The key features of the MT4 includes interactive charts with scroll and zoom, real time market streaming quotes, full set of trade orders, trading history, watch lists and many more. Some forex brokers are offering the client with mobile platform, so that traders can trade forex on their iPhone or Andriod with latest price quote from the market.
When you consider the forex trading, you will succeed in not only learning how to trade forex but also eventually make consistent profits from the market times to times. When opening the trading account, you can decide either practice trading or live trading. Practice trading account is demo trading where it allows you to get familiarized with the platform and apply what you learned in theory. You can use different kind of trading strategies and techniques in order to determine what type of trader you are. This can be assumed as strategy testing before you begin live trading. Practice trading account is a mental preparation for trader to move forward to the live market trading.
Live trading account is a real account for new traders. As a beginner trader, he or she can trade micro or nano lots at first place.
Now traders can actually risk their own money. The advantage of micro and nano lots is, it creates less shock for the trader after switching from the practice trading account while it allows trader to execute trades instantly on updated market.