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Is it possible to make money on Forex trading?

 

 

What is the foreign exchange market?
Quite recently, trading on Forex was considered to be a prerogative of big players.

But time changes and today almost anyone can try to earn on a difference of currency rates without an impressive capital. The market differs from others as it does not have any specific trading platform so it can be international. The Forex market allows traders to earn money almost anytime - 5 days a week in a round-the-clock mode.

 

How to start?
Lack of experience in Forex trading is not a problem. Everyone has to start somewhere. Therefore, in order to confidently open a trading account and start making money, it is recommended to practice on a Demo account. This is a training account to help you get an opportunity to apply the knowledge gained in practice, understand the principles of Forex trading and choose the most suitable strategy for you without any risk of losing real money.

 

You can open a Demo account with a reliable broker JustForex which has been working on the market since 2012 and start trading right away. It’s absolutely free.

 

And remember, most of the Forex aces were people of different professions in the past.

 

Choosing a trustworthy Forex Broker
Trading on foreign exchange operations market occurs according to a certain principle. A trader opens an account with a brokerage company, and the broker, in turn, gives him a possibility to enter the market. There are a lot of brokers on the market but very often it is too hard to choose a reliable one for a newbie.

 

So pay attention to several options. One of them is how much time a broker has been working on the market, whether it has an official regulation or not, how secure it is.

 

Paying attention to all these nuances, JustForex brokerage company, one of a world leaders, can be your trustworthy partner. It offers quite beneficial terms for trading with different types of accounts. The company has the official regulation and millions of clients worldwide.

 

What are the types of accounts?
    •    Cent account - this account is basically for beginner traders. You do not need to understand limits and commissions, your risks will be minimized as you can start trading even with a dollar.
    •    Mini account - similar to the Cent account, your risks will also be significantly reduced. But this account type gives more opportunities than the previous one.
    •    Standard account - One of the most popular and in-demand Forex trading accounts. This option can be described as the most versatile. Usually the minimum deposit is $100.
    •    ECN account - this account is suitable for those investors who want to work in conditions that are as close as possible to market ones. The execution of orders happens automatically.

 

How to analyse the Forex market?
There are 2 ways of market analysis.

 

The fundamental analysis is the analysis of an economic and political state of countries with currencies of which you trade on the Forex market. The task of fundamental analysis is to assess a possible impact of certain events on the movement of the rates.

 

The technical analysis is based on charts. It is believed that absolutely all the information about the market is in charts. It has a certain cyclicity, therefore, you can predict the future relying on what was in the past.

 

The foreign exchange market opens huge opportunities for everyone, regardless of your financial situation. It can be a full time or part-time trading and a source of additional income.