How to start Forex Trading

Where can I trade?

Online, anywhere, anytime, on the device of your choice. You have full control to monitor the status of your trades, modify the terms of your open deals, close deals, or withdraw profits. The ability to access your deals 24/7 is a great benefit of online trading.

How do I make a profit?

You can profit from forex trading by correctly determining whether one currency in a currency pair will go up (strengthen) or go down (weaken) relative to the other currency in the pair. With forex, you can profit whether the market is rising or falling. This is because currencies are traded in pairs. The key is to buy when a currency is low and sell it back once it is high. In chapter 2 we take you step by step through a trade.

Traders develop trading strategies based on technical and fundamental analysis. Technical analysis (chapter 4) is the use of charts and other statistical measures to predict future price movements based on past prices, while fundamental analysis (chapter 3) looks at how macro-economic data releases, news announcements and other reports may cause rates to change.

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What happens to my investment?

At easy-forex, we like to keep things simple for you, and all transaction-related calculations are automatically done for you by the easy- forex platform. It’s simple to use and easy to understand. Your account is in a ‘base currency’ of your choice, often the local currency where you live. You trade using your base currency no matter which currency pair you choose to trade.

What drives forex prices?

As with any marketplace, the main factor behind changes in exchange rates is supply and demand. In the forex market there are however many other factors that cause prices to fluctuate as well. These factors may be of an economic, political or geographical nature. Fundamental analysis (chapter 3) explains how you can use these factors to forecast currency rate movements.