A lot of people usually start trading after reading some news and information about the market or generally about forex trading. But do they really know all the secrets behind it?
In this article, we will list the 5 most important things that you should know about forex trading.
5 things you should know about forex trading
When you read about forex trading, there are few things and tips nobody talks about: tips about a forex trading strategy or a specific trading platform or even about a general regulation.
Here you can find the 5 most important tips:
- the new forex leverage 1:30 is JUST for European clients
- a lot of brokers offer an educational service and forex signals FOR FREE
- every new client has a personal market expert helping with information and strategies
- if a broker is regulated your money is safe
- every trading platform offers a trading demo account with $ 10.000 to learn how to trade
Let’s see every point!
1- New Forex Trading Leverage
As many of you might have read, from August 2018 there is a new maximum forex leverage available in forex trading. The new maximum leverage is 1:30.
But what many people don’t know is that this leverage is just for the European clients!
All the other traders from the rest of the world can still continue to trade with a leverage up to 1:400 (it depends on the broker).
If you are not from Europe, don’t worry! For you, the situation didn’t change.
2- Education and signals for free
A lot of people don’t start trading because they don’t know how it really works.
What they also don’t know is that a lot of brokers have a full educational course and offer free forex trading signals.
One of the most famous educational course is offered by BDSwiss. They also have free webinars, live trading, and forex signals. Read about the BDSwiss review here.
If you read about the broker and do a free registration, you can understand more about their offer and about forex trading too.
3- Personal market expert
What a lot of people also don’t know when signing up with a forex broker is that they have full assistance from their market experts.
On top of the live-chat, emails and phone calls to the support for the general questions, every trader has a personal broker helping him with trading tips and forex trading strategies.
4- Regulated broker
We have explained this concept many times on the website. One of the most important thing when choosing a broker is its regulation.
The most common ones are FCA and Cysec. If a broker has at least one of these regulations it’s safe to invest with.
5- Demo Account
The last tip is that every trading platform offers a demo account to use to test the broker and learn how to trade.
Usually, a demo account has from $ 10.000 to $ 100.000 which is more than enough for your tests.
This is very important because opening a demo account is free and gives you the opportunity to test your strategies and check the trading platform.