Forex trading uses the fluctuations in international currencies to gain profits. You can profit from these 5 trillion dollars per day market by using lower FX spreads and faster execution provided by a reliable broker for your benefit.
So, how to get into this lucrative market? The answer is through the association with the best broker. But before that, let us focus on some basics of the trade –
- Pips matter –
A pip stands for Percentage in Point and correlates with the movement of one unit of the fourth decimal of a currency rate.
This means that if a currency pair moves from 1.1050 to 1.1051, the rise is termed as that of one pip i.e. 0.0001. With leading industry names like Am Broker, the minimum spread is 0 and pips are at 1.
- Trade time in forex
The forex market operates 24 hours every day and is spread into the following sessions –
- Sydney Session
- Tokyo Session
- London Session
- New York Session
Once again with Am Broker, the time to process an order is merely 0.004 seconds!
- Leverage currency trading
In the past, only the large investors had a role in the market but today, everyone is trading in this market. One does not have to be extremely rich to be an investor. Instead having the right broker like Am Broker can make a huge difference in trading beyond the actual investment in hand. Using the leverage offered by this service provider, you can trade in a leverage of 1:500! This means that for everyone dollar, you can trade for a value of 500 dollars! This means that your earnings can manifold by 500!
Using the negative balance protection, you can never lose beyond the actual investment made by you.
Starting with the trade –
Undoubtedly, having the right broker like Am Broker can make a huge difference in trading forex.
- Firstly, select the right deal size. For instance, you can invest in 500 times the actual value. This means that if you have 100 dollars, you can trade for 50k dollars in the market.
- Next you need to select the direction of trade. This means that you should know when to buy and when to sell
- Once you are done and have earned profits, you can collect your profits. What is more, with Am Broker, the actual value is merely 0$!