How to start of with trading with forex

[mcjerry]

i have always imagined how to start off with forex trading as a Nigerian. I have seen and heard of different trading platform,and I have even seen a lot if person saying they can teach on how to go about it but their fees are just to exorbitant.
is there anyway I can go about it on simplicity and or straightforwardness?

I have been using instaforex for long time now. It is a good brooker with good transaction fee. They also support many currency pair

 

[Suba]

If you want to start trading forex better, you should
1. Learn first What is forex trading, risks and benefits, strategies and analysis.
2. Find a Trusted Forex Broker and download
3. Register to the Broker
4. Learn to trade forex with a demo account
4. Fund/deposit Your Account
5. When you are ready, open the trading platform and select the currency instrument you want to trade.

 

[Heatman]

Before you start teading on forex you will definitely have to learn how to trade in order to succeed in it because it is not something that you just take a book and read on how to trade on forex and start doing it; you need practicals to master it.

 

[YERUS]

i have always imagined how to start off with forex trading as a Nigerian. I have seen and heard of different trading platform,and I have even seen a lot if person saying they can teach on how to go about it but their fees are just to exorbitant.
is there anyway I can go about it on simplicity and or straightforwardness?

To start forex in Nigeria.
Firstly i will say you should get a device and internet connection.
secondly, get trained on forex
Thirdly, practice with demo account and study your progress.
You can then open a forex account and start trading.

 

[Toyoabasi]

i have always imagined how to start off with forex trading as a Nigerian. I have seen and heard of different trading platform,and I have even seen a lot if person saying they can teach on how to go about it but their fees are just to exorbitant.
is there anyway I can go about it on simplicity and or straightforwardness?

I would suggest you take a training course on forex trading...
On the training, you will get to know how to start off fore trading in Nigeria.
Just meet an expert to explain things to you.

 

[Ub40]

I have not traded forex before though and I don't know how it works, and there is nothing wrong if you have decided to trade forex. But I can only advise that you should make sure to get all the necessary training or learning needed to trade forex to avoid rushing in and rushing out due to lost of funds.

 

[Good-Person]

I use Payeer to carry out all of my trading operations and it is really great trading platform to start trading. They offer cryptocurrency and fiat currency trading options.

 

[Smiles20]

The first and most important thing in forex trading hours to find a forex broker. You should make sure that you find one that has been licensed to practice in your country and one that can allow you to deposit a little money.

 

[joy101]

To start forex trading you must to have knowledge about the business before going into it, I think the best way to start forex trading is to learn about it.

 

[ElenduFc]

Generally been linked with and limited to traditional ‘offline’ routes. With the Internet advancing and being a major part of our daily lives, the majority of individuals are searching for methods to earn money online in order to augment their finances. This turns into secondary or passive income that can facilitate them to manage their expenses.

If you are looking to earn passive income through an online source, then the forex market arena is a possible method to get profits. So how can you earn online? Forex is a lucrative market with a net worth of approximately $2 quadrillion. It is also a highly liquid market, however, you will need to know the right techniques and strategies to be profitable in this market.

Understand the Market​

Prior to executing profitable strategies and putting plans in motion, it is essential that you completely understand the market and the possible risks involved in trading forex. This trading technique is mainly done online, allowing a trader to gain profits or lose money. The trade ensues by purchasing instruments in one currency and then selling it in another. These are known as currency pairs. Knowing when to invest in a particular currency pair is how you can earn online.

Find a Suitable Forex Broker​

To be a success in the forex market, it is essential that the broker you partner with complies with the prevailing regulatory framework that conserves the integrity of forex markets. In this market, there is a serious chance of falling victim to brokers who are a scam. There have been numerous occurrences where the traders close their operations after the transaction costs rise and the investor begins to lose their life’s worth of savings. So avoid opting for brokerage firms that have such practices. When you come across a good broker or platform, make sure to research their reputation by reading reviews and how people perceive them online. Best forex brokers shows the pros and cons, and the background of XM brokers. They are reliable and regulated brokers who support webinars and research materials. These permit traders from various international countries to engage and begin earning online.

Practice through Demo-Account Option​

Novices in forex trading must take their time to practice using the free demo-accounts that the majority of trading platforms provide before investing real capital. The situations created reflect that of the real forex market. Moreover, it offers an excellent chance for learners to get comfortable with currency trading, recognizing patterns in the market and looking through a variety of trading methods. In addition, traders can extract information, advice and educational videos regarding forex trading when using the demo account. After you have mastered the trading skills on a demo account, then you can get big gains by investing real capital.

 

[greenie]

Forex trading is anything but simple and straightforward. It is a bit technical and strategic. There is much to learn before you can call yourself an expert in forex.
You should start out with a demo account first. With a demo account you will practice forex trading with no risk involved.

 

[HayKay]

Except you have a mentor or someone you can run to anytime you don't understand anything; you'll have to do a whole lot of research and study so you can understand how to trade and profitably at that.

 

[Sotherefore]

If you do not have any idea of forex you are not starting but you will be looking for an opportunity to learn it from people that have a better understanding because that is the only Way you will be here and be able to start and read the volatile market perfectly without losing.

 

[Brendan Watson]

One can't make a more prominent trading benefit until he is working with a regulated and reasonable broker. I am attempting to refresh myself and my trading venture with the supportive condition given by my broker ForexChief. This authorized broker is guaranteeing me moderate leverage of 1:1000, re-statement and slippage free well-coordinated, quickest and systematic exchange executions with unsurpassed simpler exchange offices. Besides, I have a total ideal to utilize any trading stratagem here.

 

[HK World]

If you are completely new to forex trading, then I would suggest you start practising with your demo account.


This will not only help you learn about all the strategies to trade on Forex, but it will also save you from making mistakes and losing your money.


You will learn with practise on your demo account how Forex trading is done effectively.

 

[Brendan Watson]

You can not invest your own money in Forex trading, but start with a no deposit bonus from forexchief in the amount of $100, without verification and confirmation of your data. Such an amount will allow you to understand Forex trading and here you will learn how to make a profit, understand the movement of currency pairs, limit risks and all this with the broker's money.

 

[Setho]

Going to YouTube and learning about forex trading and the various trading strategies that you can make money from is probably the best way to go about this. You shouldn't use a demo account to learn what you have been taught

 

[greenie]

Forex trading is anything but simple and straightforward. It is a bit technical and strategic. There is much to learn before you can call yourself an expert in forex.
You should start out with a demo account first. With a demo account you will practice forex trading with no risk involved.

 

[Genie01]

YouTube and the internet is the new deal.
All you need is data and a strong desire to learn.
I am a testifier.
Dm me for some useful educational resources

 

[Lynaia]

I don't really know why people charge so much for something like that. Check online maybe you could get someone to learn it from for free or with a little amount of money