What is forex trading?
Forex or Spot Forex is the foreign exchange buying and selling. In the forex market, you can sell a country’s currency and buy a country’s currency.
For example, the currency of the United States or the USA is dollar, Britain or the UK currency is a pound. In the forex market, you can sell dollars by selling pounds or pounds and buy dollars. You can buy and sell in the Forex market without any dollar or pound, but there are different countries.
how is it possible to earn from forex market?
The values of different countries are always variable. You might have seen in the magazine that sometimes it is getting stronger against the dollar, and sometimes the money is getting stronger against the dollar. This is the highest rate of currency in the world. So, if you have bought dollars, if the price of the euro against the dollar goes up, then you can sell the dollar and buy euro. Again, if the Euro is strong against the dollar, you can get more dollars by selling euro.
Maybe you had $ 100 that you bought 80 euro by selling. Later, after rising Euro, it sold it to $ 120. This way you can earn. We can profit if the share price increases only in the stock market. But in the forex market, no currency is strong or weaker, we have the opportunity to profit in both cases, which is the biggest advantage of the Forex market.
Advantages of Forex Trading:
In the past, only the wealthy or banks could have the opportunity to trade in the forex market. But now with the change of time, due to the emergence of various Forex Brokers and competition, anyone can trade on the Forex market from any country in the world.
It’s possible to start Forex trading with just $ 1. Almost all Brokers will give you free demo trade, that is, with virtual money. So first you can prepare your own free demo trade and start a real trade by depositing it with a demo trade.
Forex market is very large and this market cannot be manipulated. The biggest stock market in the world is the New York Stock Market and the size of the Forex market is 25 times more than that. Remember, the price of the dollar or the euro does not determine the price of any country’s government. In the context of economic conditions and financial events of different countries, the prices of different countries vary automatically. If you buy dollars or euros at the same price, all the countries of the world will buy dollars or euro at the same price.
There is a large leverage or loan facility available for trading in the Forex market, and therefore you can benefit from very little market movement.
A very popular word in scalping forex. It means open to trade for a very short period. It is possible to get good profit with very little change in the Forex market. Many people open a trade for 10 or 15 seconds and if they get a profit then they are out of the trade.
Forex Market is open from Monday to Friday, 5 days a week for 24 hours. And so, you can trade or you can trade your business conveniently on the Forex market.
Forex trading allows you to sit at home, there is no need to go outside. And so the family can spend a lot of time.
To trade in the forex market you have to do everything online and it is easier to deposit or withdraw from account opening from account opening.
If you can trade well, many will be encouraged to deposit with you and in that case, you can manage their trades and you get a portion of their profits.
Above all, a successful and efficient forex trader can secure a good amount of money by trading this market safely.
It is recommended to mention, to be a skilled and successful trader, you will have to study a lot about Forex market, make yourself eligible for this market. Anyone from the forex market can earn a lot early without knowing anything. Remember, Forex market is just as challenging as the stock market. Knowing without knowing will be initially successful, which is also the stock market many others. But for a long time to survive, there is no alternative except being an expert.
And one thing, there is no recession in the forex market. Because you can buy only in the stock market, you can buy or sell both at Forex market.
What are the forex trading requirements for?
For online forex trading, you must have an internet connection. Forex trading can be done for all the computers, mobile and tabs. But Windows and Mac-based PCs / Laptop analysis and good and easy to chart. Through mobile you can manage the trade and limit chart analyzes me.
How do I buy or sell dollars or other coins?
To trade forex, you must first open a trading account with a forex broker and deposit it. Trading accounts are easily open online. After opening the account, you must verify by submitting the scanned copy of the passport or national ID card to prove your identity. You can immediately deposit your account with various online payment instruments like Screel, Neteller, International Visa / MasterCard etc. and start trading Forex.
But usually, most people deposit with the forex brokers through the bank. In that case, after the account opening, you will get detailed information of your broker’s bank account number and bank deposits. Although Bangladesh cannot send money outside the country through the bank, most Bangladeshi traders deposit online payments through Netlets and Scille medium.
Once the deposit has been completed on your account, you can start trading. Forex trading is done through online MetaTrader software. There are also some broker’s web-based trading terminals. This software allows you to download free from your broker’s website. After installing the software, the broker will enter the number and password of the broker with the given account number and the password will be loaded and you will be able to open/close your trade.