We knew there had to be a better way how to learn Forex Trading. So we built it
We did the research for you, to help you find the Best Forex Broker in 2021. We compared losing rate, commissions, social trading features, customer service, practically everything. We went deep, so you won’t have to.
We don’t claim to have any secret magic tips on Forex trading. You’re not going to hear anyone suggesting you will make a trillion dollars a week or that you will be buying your private island next month with the help of forex trading. Instead, what this book offers is a safe haven for newbie traders.
Many moons ago when the iPhone was just a glint in Steve Jobs’s eye, we started trading currencies. As our journey progressed, it was immediately obvious that finding any useful trading advice for a beginner was almost impossible to trade in Forex. The lack of general information was bad, but things got even worse when we needed to find specific answers related to forex.
We promise there is no claims of easy money nor holy grails here; just useful advice, well organised and simply written to help you learn as much about trading as possible.
If you wanted to learn about leverage it would be on one website, while information about Forex fundamentals would be on another and useful tips somewhere else yet again. When we were able to find something helpful, the forex focused material lacked depth and it was often scattered wildly around the web.
Start with $100
Until the early 2000s, it was not possible to trade forex markets with anything less than $10,000. Unlike other financial markets, you can trade with much smaller amounts such as $100. More and more players are entering the forex market, allowing you to leverage your capital and make money from fluctuations in the market.
Learn from Pros with social trading
In the past, traders relied on fundamental and technical analysis, but with social Forex trading, you can take cues from successful traders to make money on forex. You can watch what professional traders are doing and observe their trades with Social Trading. Social trading lets you copy other traders’ strategies and can be very beneficial to newcomers, shortening the learning curve.
Even during a financial crisis, you can still make money trading markets. Any oscillation in the currency can be taken advantage of by going long or going short. Whether a market is bullish or bearish, you can trade either way with forex unlike stocks or other financial instruments.
The market is quite straightforward as compared to other financial markets. With stocks, you have to analyse company reports and choose from thousands of companies to invest in. However, markets generally revolve around eight currencies, known as the Majors. Put simply, the better a country’s economy is doing, the better we expect its currency to perform.
Work While Lying in a Hammock
You can literally trade forex markets while sipping on a cool drink and lying in a hammock. All you need to get started is some capital to trade with, a computer, laptop or smartphone and an internet connection. You decide when you want to Forex trade and therefore your working hours.
If you are too busy to follow the news and monitor the charts all day, it is possible to participate in trading in an easier and less time-consuming way. Social trading allows you to connect with experienced traders, see their performance statistics, discuss their trading ideas, learn from their mistakes and copy their successful strategies. In essence, you make professionals work for you.