Forex trading for beginners youtube mp3
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RoboMarkets also RoboForex is one of the few brokers that offers an excellent library of PDF and video tutorials covering the forex markets and trading techniques. Though initially known for offering trading services with currency pairs, the platform was rebranded to RoboMarkets after the addition of other markets like indices, stocks, and commodities.
Text-based guides are still favorites of many learners and Capital. The broker offers separate guides for each market — forex, CFDs, spread betting, and others — and covers topics from very basics to the most advanced levels. It also provides in-depth guides on the trading strategies and market psychology, also has a glossary page to make the newbies understand the market lingo. It lists around 3, instruments of forex, indices, stocks, commodities and cryptocurrencies, and is regulated in the UK, Cyprus and Belarus.
The demo account has become necessary not only for beginner traders but also for exerts. While beginners can brush up their trading skills without risking real money, experts use these accounts to test new strategies. Though almost all the brokers offer demo accounts, we picked CMC Markets mostly because of its wide range of trading services offering. The website's user interface enables users to rapidly evaluate all of the broker's capabilities and determine whether or not its trading conditions are appropriate for active trading and investment offerings.
The FXTM affiliate program also offers customers extra means of income. The leverage offered by FXTM ranges from to and decreases as trading volume increases. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
It offers a variety of features, such as social trading, as well as a mobile app that makes trading on the go even easier.
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All currencies are quoted in pairs, which consist of the base and the counter-currency. The exchange rate always shows the price of the base currency, expressed in terms of the counter-currency. US dollar pair trades at 1. All currency pairs that involve the US dollar as either the base or counter-currency are called major currency pairs. Finally, there is also a group of currencies that is not heavily traded on the Forex market, which means that their liquidity is low and volatility is high.
Those currencies include the Turkish lira, Mexican peso, or Czech krone, for example. The high volatility of these currencies makes them unsuitable for beginners, at least until they gain enough trading experience. All mentioned currencies have their own characteristics and personalities. The US dollar, euro, and Japanese yen are major reserve currencies held by central banks around the world, but the Japanese yen and US dollar to some extent are also safe-haven currencies that rise in value in times of political and economic turmoil in the world.
On the other hand, currencies like the Canadian dollar, Australian dollar, New Zealand dollar, and Norwegian krone are also called commodity-linked currencies, as they heavily depend on the price of commodities such as oil and copper. Pips — Pips are the smallest increment that currency pairs can change in value. A pip refers to the fourth decimal place of an exchange rate, but bear in mind that some pairs that include the Japanese yen have their pips on the second decimal place.
Trading on leverage refers to borrowing money from your broker in order to open a larger position size than your initial trading account size would allow. For example, leverage of allows you to open a position times larger than your account size.
But be cautious when trading on leverage, as it magnifies both your profits and losses! Margin — To be able to trade on leverage, you need to put a small part of your trading account aside as collateral for the leveraged trade. The margin will be returned to your trading account once you close your leveraged trade or it hits its exit price. The following table shows the required margin to open a trade, based on the used leverage ratio. Spread — The spread is the difference between the bid and ask price of a currency pair.
This is usually the only transaction cost you need to pay to your broker in order to open a Forex trade. Spreads can be as low as 1 pip or lower on major pairs like EURUSD, but can widen in the event of lessliquid cross-pairs and exotic currencies. Market, stop loss and take profit orders — A market execution order is used to open a Forex trade at the current rates offered by your broker. XM is one of the best brokers for beginners to start with for both trading and other additional services.
The offerings of the broker include forex and CFDs of indices, stocks and commodities. It offers in-depth guides and video tutorials on financial markets and trading strategies. The broker also conducts around 40 webinars each week in different languages for its client base around the globe. RoboMarkets also RoboForex is one of the few brokers that offers an excellent library of PDF and video tutorials covering the forex markets and trading techniques.
Though initially known for offering trading services with currency pairs, the platform was rebranded to RoboMarkets after the addition of other markets like indices, stocks, and commodities. Text-based guides are still favorites of many learners and Capital. The broker offers separate guides for each market — forex, CFDs, spread betting, and others — and covers topics from very basics to the most advanced levels.
It also provides in-depth guides on the trading strategies and market psychology, also has a glossary page to make the newbies understand the market lingo.
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