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Video key moments:
00:00 - Start
00:11 - How to open a forex account
00:39 - Choose a reliable broker
00:53 - Two types of forex trading accounts
01:59 - To open a forex account
ABOUT VIDEO:
Today we will consider STEP-BY-STEP GUIDE ON HOW TO OPEN A FOREX ACCOUNT!
You can not open an account directly on the Forex market. Your account must be with a FOREX BROKER who will act as an intermediary between you and the foreign exchange interbank market.
We recommend opening accounts with brokers through TRADERS UNION. This allows you to get additional income in the future and have greater protections.
Before starting to trade on the Forex market, a TRADER SHOULD CHOOSE a reliable broker to open an account with.
You can choose from among the list of top-ranked brokers.
Thereafter, the trader comes up with his main goals and chooses the appropriate type of account.
There are two types of ROREX TRADING ACCOUNTS: demo and real. A demo account is a training account and works exactly like a real one, except that the money you use is virtual (i.e., not real) money.
Real TRADING ACCOUNTS are divided into Cent (micro), Standard or Classic, Professional, Crypto, ECN, and Swap-free Forex Islamic accounts. PAMM and RAMM accounts make up a separate group of accounts that provides the trader with passive investment income.
Novice TRADERS SHOULD start with a demo account. With the demo version, you will learn the key principles of Forex trading without risking your own funds and become familiar with the interface of your chosen broker.
START WITH A CENT (micro or mini) account if you have a tight budget. Later you can increase investments step by step. This will protect you from serious financial losses.
We recommend INVESTING IN PAMM accounts or copying transactions of successful traders if you prefer to get a passive income rather than conducting your own trading.
TO OPEN FOREX ACCOUNT:
- Go to the rating list for Forex brokers.
- Choose a broker from among the highest-ranking brokers.
- Click the "Open Account" button on the webpage of your selected broker.
- Fill in the registration form that opens up.
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