Frequently Asked Questions

Forex (Foreign Exchange) trading is the buying and selling of currencies on the foreign exchange market with the aim of making a profit. It's the largest and most liquid financial market in the world, with an average daily trading volume exceeding $6 trillion. Traders speculate on currency pair values based on economic factors, geopolitical events, and technical analysis.

To start trading Forex, follow these steps:

1. Educate yourself about Forex markets and trading strategies
2. Use a demo account to practice trading
3. Develop a trading plan and risk management rules
4. Choose a regulated and reputable broker
5. Open and fund a live trading account
6. Start with small positions
7. Keep learning and refining your strategy

A pip (percentage in point) is the smallest price change in most currency pairs—usually 0.0001. For JPY pairs, it’s 0.01.

Pips are used to measure market movement and calculate profit or loss in Forex trading.

Leverage allows you to control large positions with a smaller amount of capital. For example, 100:1 leverage means you can control $100,000 with just $1,000.

While leverage can magnify gains, it also increases risk. It’s crucial to use it wisely and follow a strong risk management plan.

When choosing a broker, check:

• Regulation: FCA, ASIC, CySEC, etc.
• Costs: Spreads, commissions
• Trading platforms: MT4, MT5, cTrader
• Execution: Speed, slippage
• Customer service: Available and responsive
• Account types: Min deposit, leverage, spreads
• Education: Webinars, articles, tutorials
• Payments: Deposit/withdrawal speed and fees

Read our reviews to find a trusted broker.