The Foreign Exchange market is a global decentralized (OTC) market for the trading of the world's currencies. Currency is a medium of exchange issued by a government body and is used as a method of payment.
Starting a Currency Trading Account (FAQ)
To trade the Forex market you need a trading account. There are several different types of accounts, however, it is highly recommended to start by opening a free demo account. A demo account can help you gain experience without any risk of losing your funds. Every respectful Forex broker will provide you with a free demo account. After gaining some experience, you can trade for real money. When starting to trade for real money note that a micro-lot account is more suitable for beginners.
- Demo/Practice accounts offer an excellent chance to gain experience and evaluate the conditions of every Forex Broker without any cost
- A micro-lot account is the best option for beginners and semi-advanced Forex Traders as it allows trading in smaller order sizes