Educational Questions and Answers
According to report data. It may take between 3 to 6 months to master the basic forex knowledge and the basics of analysis. After that, the forex learning journey can take up to two years to master risk management, trading psychology, fundamental and technical analysis strategies. In conclusion the amount of time it takes to learn Forex will depend on the individual trader and their commitment to learning this complex and dynamic market.
Forex is completely legal. However, different jurisdictions have laws in place that both traders and brokerages have to adhere to.
It depends on several factors, including level of knowledge, experience, trading strategy, risk management techniques, and market volatility.
The Meta Trader 4 is the favorite trading platform for traders which offers real-time access to market prices and liquidity. It enables new and experienced traders to trade with ease and comfort. You can download the MT4 platform for your computer, tablet, and phone.
The number of trades a forex trader should do per day depends on your trading style and market condition.
The price is driven by multiple factors, including economics, central bank policies and geopolitical factors such as GDP, inflation rates, employment levels, interest rates disasters and etc.
There more options out there to learn forex trading such as from internet articles, online courses, YouTube video, seminars, webinars, and more interactive options. Join our classroom to start learning Click Here
The leverage technique is very common in forex trading. Investors or trader can trade larger positions by borrowing money from the broker. Leveraging helps maximize the returns from changes in a currency’s exchange rate.
The market opens at 00:00 GMT on Monday and closes at 00:00 GMT on Saturday.
Yes. It is possible through developing a strong knowledge and skills related to trading strategies, risk management techniques, and market analysis.
Trading is different with gambling because in gambling you have limited control over the outcomes. You purely try to play by the odds and hope that the cycle of probability will work in your favor while in trading trader or investors, are the ones who understand the underlying mechanics of currencies. They have a proper strategy, are well informed, and try to minimize their risks as much as possible through tactical money management.
You’ll need to find a right knowledge about forex trading and look out a legit online broker, open a trading account, and make your first deposit to start trading.
1:100 is the best leverage that you should use.
There is no 100%-win strategy in Forex trading. Choosing a strategy is a relatively personal process and will need to be suited to your requirements and needs.
Yes. It is possible to become a millionaire by trading. There are factors that can affect the success of trading, such as market conditions, the effectiveness of your trading strategies, trading knowledge level and psychological state.
Yes
Yes. It is possible to start forex trading with investment capital as low as $100. However, through such a low amount will limit your trading options and profit rewards.
The forex market provides a unique opportunity to profit from rising and falling prices. You can buy when prices are rising and you can sell when prices are falling and make profits in both situations. You need to understand well the basics of forex trading for better understanding about profit making.
There is no set amount required to begin trading as it depending on the type of securities wanted and you are financial status. You can actually open a trading account with as little as $1 to $100 as a minimum deposit through some brokers.
Beginners might be advised to start with major currency pairs. These pairs offer good opportunities for successful trades with their high liquidity, low spreads, and stability.
Forex trading is available to everyone thanks to outstanding market accessibility, advanced trading platforms, and plentiful learning resources. But It's not suitable for everyone and practicing with a demo account is recommended before engaging in real trading.
Many people invest into trading without proper education and lose their money quickly. This can be avoided if you educate yourself and start with a plan and set a realistic expectation.
YES, although profits will generally depend on the size of a trader's margin account(capital), level of knowledge and trader experience.
Forex trading is real. Forex market is a legitimate trading market where the world's currencies are traded with average daily trading volume of $7.6 trillion according to the latest survey by the Bank of International Settlements (BIS).