3 Steps on How to Start Forex Trading

The question of how to start forex trading has been asked quite a few times and we are going to provide a simple way of starting the forex trading process.

We have seen allot of interest from new users and we will do our best to provide you a simple overview to get the process started.

Step 1:

The first step is to sign up with a reputable Forex broker and we can highly recommend any of the two following brokers, 24 Option and CM Trading.

They have offices worldwide, including South Africa and you will be able to contact them for assistance with anything you need to find out or questions that you might have regarding online trading.

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24 Option
Trade Forex, Stocks, Indices and Commodities.

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CM Trading (GET A $100 BONUS)
Trade Forex, Stocks, Indices and Commodities.

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Step 2:

We would recommend that you start the learning process by getting a demo account at first, instead of a real account. With a demo account, you can start to trade with virtual money and test various trades. Both the above companies do offer demo accounts for beginners.

For later on:

CM trading now offer a Copycat system, whereby you can copy other traders’ movements. This is certainly a good option, if you are still learning, but in the long run, if you do want to become a successful trader yourself, you would need to learn yourself.

Step 3:

Once you have practiced on the demo account and do feel that you are ready, you can open a real account and start trading with your own money. The forex broker that you have signed up with, will be able to assist you with a real account and provide information on how to transfer the funds into their account.

Note: Currencies, Commodities, Cryptocurrencies and CFD’s traded on margin carry a high degree of risk. As such they may not be suitable for all investors. Investors should ensure they fully understand the risks associated with leveraged financial trading before deciding to trade because you can lose some or all invested capital. Investors may choose to seek independent advice and should not risk more than they are prepared to lose.

 

Forex Company Comparison:

Please see the various online forex companies reviews below:



CM Trading (TOP RATED)

Trade Forex, Stocks, Indices and Commodities.

Demo Account: Yes


Min Deposit: $250




24 Option

Trade Forex, Stocks, Indices and Commodities.

Demo Account: Yes


Min Deposit: $150





AvaTrade

Trade Forex, Stocks, Indices and Commodities.

Demo Account: YesMin Deposit: $250
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Shaw Academy: FREE Financial Trading Course.
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