The complete Forex beginner guide is tailored for beginners who want to learn how to trade Forex effectively.If you’re completely new to trading, this guide is the perfect place to start. We’ll break down the basics of what is forex trading and how it works and walk you step by step through how to trade Forex with simple, beginner friendly explanations. No prior experience is needed just curiosity and a willingness to learn.
start learning now
What is Forex Trading?
In general life activities trading is the act of buying something at a certain price and later selling it with a different price, hoping to make profits.
In forex trading we buy and sell what we call financial assets, namely
- Forex pairs (e.g eur/usd)
- Cryptocurrencies
- Commodities (e.g oil, gold)
- Indices (e.g nasdaq, synthetic indices)
The prices of these financial assets are constantly fluctuating (i.e in the morning the price of eur/usd is low but in three hours time it has increased (high), therefore the price changes are visually represented using what is called Forex chart.
You can view the forex chart of a financial asset on an application called Metatrader 5.
You will need the Metatrader login details to be able to view the forex chart as well as buy and sell financial assets on the app.
For you to get the MetaTrader login detail you will need to create a trading account. you can only get a trading account through a broker institution
A broker acts as the middle man between you and the financial market (a collection of financial assets). one cannot trade without creating a trading account with a broker.
There are thousands of broker institutions available and below is a few of the top trusted brokers across the globe.