Okay, so you’ve decided that you want to get into Forex trading, but you’re not quite sure where to start. At first it’s easy to get a bit confused when there are so many different brokers to go for. Should you pick the one that offers the lowest spreads or should you choose the one with most reliable customer support. On top of that, you probably don’t know much about forex trading in general, so how could you possibly know what to look for in a forex broker?
The first step to forex trading is to get some basic knowledge. Luckily, we have the internet and the amount of information we can get from it is almost endless. A good place to start is to visit a forex specialist, and by that we don’t mean a broker, but a website that provides useful information for the aspiring trader. One example of that would be forextrading.pm. It provides several useful guides, suited for both beginners as well as professionals, and they also do reviews over different licensed and trusted brokers. This will give you a clear overview of what you will want out of a broker and it also saves you the time of having to visit every single broker in order to find out yourself. If you are a spanish speaker, a good alternative would be cambiodivisas.eu, which is a similar website in Spanish!
So when you’ve found a broker that suits your needs, it’s time to register. Thankfully, the registration process of most brokers is a simple on, which shouldn’t take you more than a few minutes to sort out. We recommend that you start off by opening a demo account, which is a feature that most well known brokers offer today. This way you get the chance to both learn trading without having to risk your money, but also a way to test the brokers trading platform and learn all its features before you start trading for real.
When you’re confident enough to upgrade your demo account into a real account, I would suggest that you started off by making a smaller deposit to start off with, and then slowly work your way up into larger sums as you pick up things along the way. This will give you a nice and smooth takeoff in your trading career, without too much pressure being put on you in the beginning. Forex trading, like anything else, takes time to master, and while you’re still learning it’s a good idea not to take unnecessary risks.