In forex trading, only a small margin is needed to purchase a contract of a much higher value. Leverage enables you to earn high returns while minimizing capital risks. For example, a leverage of 200:1 granted by a forex broker would allow a trader to buy or sell USD 10,000 worth of currency with a margin of USD 50. Similarly, you would be able to trade USD 100,000 with just USD 500. However, leverage can be a double-edged sword. Without proper risk management, such high leverage trading may result in huge losses or profits.
In view of the huge trading volume in the forex market, under normal conditions, you can buy or sell currency at your desired price in a mere matter of seconds with just a simple click of the mouse. You can even setup an online trading platform to buy and sell (place order) at the right price so that you can control your profit margin and cut losses. The trading platform will execute everything for you automatically. It is fast and simple.
What are the tools needed?
You will only need a computer with Internet access. It is that simple! There is no need for you to spend thousands of dollars in training and courses that cannot guarantee you success. We believe that you can find your pathway to wealth creation by using the free resources available in our trade simulation system!
The best time to trade Forex
Having a 24-hour market does not mean that you have to trade 24 hours a day.
For example, if you are trading in Japanese Yen, the currency’s volatility typically peaks during the first hour the Japanese market opens.
From 1pm to 5pm (GMT), the London and New York markets will be running concurrently. Therefore, this is the period of time when the volatility of the market and trading volume are the highest, making it the best time to trade.