Forex is not what you think
Forex, or Foreign Exchange, is not an easy way to get rich. However, there are ways to succeed for everyone in the forex market.
You've probably already been a "forex trader", albeit not in the name proper meaning. You've bought currency when you have been out traveling, and thus already "traded" currency.
Forex for beginners 1-2-3
When you buy a currency abroad, you may not use up all of your vacation. Something remains, and this can be switched back. If we ignore the exchange charges so it is actually possible to lose or make money to switch back the same note.
One (weird) example: Let's say you go to some country in Europe and redeem 10,000 dollars. You receive only $7800... You did not use any of these money on your trip (no reason why). When you return to the US you exchange again, and now you get 10529.. you have earned 529 dollars on this exchange.
In forex trading, you are exchanging curreincies back and forth endlessly, hopefully making a profit.
Is forex trading and currency speculation helpful?
One may wonder if this is something useful? Of course it is. First and foremost, it is helpful for those who are doing it, because you can make good money on this. Second, it is useful - and very much needed - that the world economy to function.
Forex market is the largest financial market in the world, and it sold for trillions of dollars every day. This is beyond all the major stock exchanges' trading volume together.
So, forex trading and forex is both useful and necessary for society, and can also make you richer. So you should not have any guilt for not contributing anything if you are a forex trader or currency speculator. They do a very important job and provide liquidity in the financial markets. Without this liquidity the world would look very different today.
Try Forex Now: How to trade currencies and commodities
Now that you've gotten an introduction to forex trading, you are ready to try. The course takes some time to get a good and profitable trader, but this learning must all go through, whether they are trained or have any financial professional baakgrunn from earlier.
Everyone can at least start with forex.
All that is required is that you are willing to learn, have internet access and have some available funds. Obviously you need:
- Time to learn
- Internet access
It keeps you start with a few hundred pounds. It takes time to become a good trader. Some learn quickly and others use a long time, so it is impossible to assume how long it will take before you're able to achieve significant gains.
We use easyMarkets for trading, it is an advanced and professional trading solution for currency and commodities. This is a good option for those who have greater requirements for anvaserte technical solutions where it is possible to analyze historical data and go more in depth to even make their own assessments of the market.
Best social trading service:
eToro is the world's largest investment network and leader in the social trading. This is excellent if you want to see what other traders trades, and allows to see, follow and copy the best traders. eToro investment network consists of over 2 million active traders, and it is therefore easy to find someone skilled traders who you can copy and it can be done automatically.