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Forex market in itself is the same as any other: commodity market, stock market, or the one that is near your house. All of them have similar features; the difference is only in the goods offered and the methods of making a deal.
Since Forex is a currency market, it’s obvious that the product it offers is foreign exchange currency. Your job as a trader is to buy currency at a cheaper rate and sell it at the more expensive. The difference is your profit. You can also do it in reverse. Knowing that the price for the currency will go down, you sell it at the expensive rate and buy it back later at a cheaper price. The difference in price makes your forex profit.
To start trading on the currency market, you need to register on RoboMarkets website, open a trading account, and download to your computer and install the application, which provides you an opportunity to trade – a trading terminal. We’ve created a wide range of Forex accounts, which meet the demand of any trader regardless their trading experience or preferences. You may trade on both a demo account in order to train and test your skills, and a real account to earn real money. For beginners, it would be better to open an account of Demo Pro type or a real Pro-Cent account.
For example, you opened a trading account with 100 USD. Using the indicators available in the terminal, you set the upside and downside borders on the EURUSD chart and make a decision whether to buy or sell. Assume that on October 3 you predict that the quotes will rise, and thus you buy 7,500 EUR at the price of 1.318, making a deal of 7,500 * 1.318 = 9,885 USD. This is possible due to the level that allows you to make transactions worth 100 times more than you have at your account. On October 27 the rate rises up to 1.42. You decide to sell 7,500 EUR, making a deal worth of 7,500 * 1.42 = 10,650 USD. Your earnings amounted to 10,650 - 9,885 = 765 USD.
The visual information is always easier to understand and to remember, therefore, we suggest that you take at a look at the video course, that we offer for free and learn some skills necessary to trade forex successfully.
MetaTrader4 is the most popular program for traders around the world to make their deals. All you have to do is to download and install it on your computer so that you can also start working on Forex.
The more accurate the analysis of the market is, the more profitable deals you can make. We offer you daily forex analysis from the best market experts. Keeping your eye on the news and forecasts, will make you gain hand in forex trading much faster.