How to begin Forex trading

What is the forex market? Forex is an international online currency market where national and regional currencies are traded such as USD, EUR, GBP, JPY, and other. Day by day, exchange rates of various currencies fluctuate on Forex depending on numerous factors. For example, the exchange rate of the EUR/USD pair can be at 1.2345 at a certain moment, but after some time it may slide to 1.2250.

Forex market participants place trade orders at one price (deal opening) and conduct opposite exchange operations at another price (deal closing). This way, they aim to derive profit from the difference in rates.

Should I wait for high and rapid returns? "No!" and "Not rapid" - these are the two only possible answers to both questions. Of course, there were cases when beginners scooped a large profit following the first deals. But these are isolated cases and there is no point in hoping for immediate success. Foreign exchange trading can be fascinating, lively, and even hazardous, but it is also hard work. One needs to exercise patience and endeavour to work hard and learn continuously in order to achieve profits. Patience can ensure that you gain the required experience, while hard work can help you acquire knowledge and test dozens of strategies and trading methods. However, trading Forex is not alchemy but a completely independent mathematically behavioral undertaking that is governed by its own rules, that every patient and industrious trader can take advantage of. Industry and application are rewarded in any job and that of a trader is no different.

Can I trade on Forex without risk and investment? Yes, you can, but only using a DEMO account. Indeed, any participation in a particular financial market involves investment and risk. However, in the foreign exchange market, the amount of investment, the level of risk, and the moment of its occurrence depends only on you. You are able to trade with just one dollar or a few cents.

What are the types of accounts and how do they differ?

Insta.Standard is the most popular account offering standard trading conditions without fees but with a fixed spread per deal. Here, it is possible to start trading with any deposit size and request a lower leverage if necessary.

Insta.Eurica implies trading without spreads, due to which the BID price is always equal to the ASK price. This account type is suitable for beginning traders. All pending orders are executed exactly when the price reaches the values.

Social trading combines communicative platforms and speculative currency trading which implies publicity and full access to information about trading operations. As in social media, there are popular traders in the forex market who are monitored for their activities and whose strategies are copied by less successful members of the forex community. However, all of them share the common objective - profit-making and its growth.

One of the most popular product of social trading is ForexCopy from InstaForex.

InstaForex has created a forex trading service for beginners combining a practical Forex training course and social media that allows participants to learn and communicate.

InstaForex ForexCopy is a service for copying transactions of other traders. Every user of the service has access to trading information from top traders who share their knowledge and skills.