Why become of Forex trader?
There are many reasons to try out Forex trading. Some of them are listed below.
- You can get extremely big returns in comparison with your initial deposit.
- You don’t need a large amount of money. In fact, you can start with only 1 USD.
- You get a vast knowledge and experience in finance.
- You have your own business and depend only on yourself.
- You are free to manage your time as you wish.
How much money can one make trading Forex?
How much money can you really make trading Forex? There are a lot of websites that claim to double or triple their money every month. However, in practice professional traders return 20-80% a month, so a return of 20-30% is both a realistic and a reasonable expectation. Remember that currency trading is like any investment vehicle, and having realistic expectations for what you can make is going to set you up to succeed more than thinking that you can get rich quickly with only a $50 investment.
What are the risks?
Please do remember that Forex trading is very risky. Forex should be traded with only risk capital. In other words, trade with money you can afford to lose.
At the same time, there is no need to be afraid of the risk. As the trader, you have to take a reasonable risk, which is exceeded by potential reward, and make efforts to decrease risk. You will find the information on risk management further.
Forex Broker
FX trading is typically done through brokers. Brokers are companies providing individuals like you with access to the interbank market where all the trading takes place. In other words, a broker gives you a special software program, where you can see live currency quotes and are able to place orders to buy/sell currencies with just a few clicks. When you decide to stop your trade, the broker closes the position on the interbank currency market and credits your account with the gain or loss. It will take you only a couple of minutes to open an account with the Forex broker of your choice and begin your trading career. As a reward for the services, a trader pays to his broker spread or commission.
When choosing a broker, pay attention to the company’s goodwill, age and regulation. FBS is providing high-quality services to its clients since 2009 and is widely recognized as one of the market leaders. Its worldwide success doesn’t prevent the company from being extremely customer-driven and meeting the needs of every single trader. FBS support is always ready to help you and is available 24/7. In addition, it’s important which trading conditions a broker offers. In particular, compare the execution speed, spreads, swaps and commission. FBS can boast split-second execution, spreads from 0 pips, 100% deposit bonus for trading, free deposit insurance and many other benefits for traders. We do aim to give you the best of Forex!