Foreign exchange transactions are one of the main sources of income for banks and financial institutions around the world. But at the same time, the Internet is filled to capacity with advertising of the Forex market. All kinds of banners, magazines and scientific articles are found in every issue of financial publications. And it only seems that the foreign exchange market will make it possible to earn big money in a quick and short time. If you decide to start trading seriously, first you need to look around and spend a few days studying the quotes and choosing a reliable company.
First of all, a novice trader must have good intuition that will help him make the right decisions, predict the value of currencies, analyze the market, etc. Let's answer the main question, what is Forex? Forex is an opportunity for free, unlimited earnings, allowing you to realize your abilities, with subsequent conversion into any currency.
How to get started on Forex
Reading Forex quotes can seem a little confusing at first. However, it is very easy if you remember two things.
First: The currency listed first is the base currency. Second: The base currency value is always 1.
First: The currency listed first is the base currency. Second: The base currency value is always 1.
To get started in the Forex market, you need to follow a few rules. Be sure to read the terms and conditions, then install a trading platform on your computer (software for trading on the Forex market).
Then you can open your first account. The named demo account allows you to train not only a novice trader, but also an experienced specialist of the Forex currency market, without any investment of funds.
Experts advise beginners not to rush, but first test their strength on a demo account, gain the necessary experience to make the right decisions. It is not recommended to open a real deposit, although no one can prohibit you. The choice is always yours, just remember emptying your wallet in the Forex market depends on its owner. At the end of registration, do not try to deceive the brokerage company. Enter reliable bank details, passport details, etc. By agreeing to the rules during registration, you confirm that you have read these rules and undertake to comply with them, without claims or any wrangling.
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