Forex trading can be started with a few simple steps.
Step 1: Open a trading account
- Choose a suitable Forex broker (click here)
- Open/Register a new trading account with them
- Verify your account (for KYC purposes)
- Make a deposit (you can skip this process for a demo account)
- Download the trading platform/app from your broker’s website
- Key in your trading account detail on the trading platform
- Start trading
Step 2: Start Forex trading
- Install the trading platform (MT4) on a pc/laptop or mobile phone
- Select a currency pair you want to trade
- Analyze the market with your trading strategy
- Select order/position (buy or sell) and set your take profit and stop loss
- Wait for profits…
- Close the order
Step 3: Make a withdrawal
- Login on the broker website
- Choose the withdrawal method (make sure it is the same method as your deposit)
Although it seems easy, trading is a stressful and risky job. Therefore always control your emotions during trading.
Good luck!