A couple of weeks ago you started to delve around the forex market, wondering if it might possibly hold some space and benefits for you.
You tried some tutorials and read up the glossaries. If you’re anything like us you will have printed a list of terms off and stuck it to the side of your screen.
You signed up to a couple of demo accounts. Hopefully you will have tried several as each will be different, even if every one you tried was based on the respected MetaTrader 4 platform.
If you have the hang of it you will probably have amassed a pretty big virtual profit, and you have probably lain awake at night working out what you would do if the money were real.
If you’re feeling strong, excited and ready then you need to start thinking seriously about signing up to a live account and trading for real.
With a bigger broker you’ll now need to sign up with an application form, determine what currency denomination you want your account to be based on – often the main ten of USD, EUR, GBP, JPY, AUD, CAD, CHF, TRY, PLN and SGD will be offered. And then comes the utterly real pinch yourself moment when you have to fund the account. Generally with the bigger broker you’ll need to wire funds to them, especially if they are in a different country. But sometimes you can fund your account on your credit card. Now we have been trading for years and with considerable success, but we’re still a bit nervous about using our card to put up our capital.
Your success is not guaranteed and you should not leap into this vast, exciting and lightning fast market without a lot of thought and in particular a lot of preparation. But if you’re up for it then it has every potential of working well for you. We wish you every success.