How to start trading on Forex and how can you earn from forex trading?| Hamidwap blog

How to start trading on Forex and how can you earn from forex trading?

If you want to earn money online, forex trading is one of the best ways to earn money from home. So you want to become a forex trader and want to be your own boss, trade currencies, and make lots of money. The natural question is "how can we start?". We have developed a simple guidebook for you! In the below you will find several steps that will make your path to financial freedom a short one. Please note that each step will have a link that will give you clear information on what to do.   

Open trading account

First of all you have to choose a reliable broker to start trading and make a trading account with them. We recommend using FBS, Octa, XM, and exness brokers. If you don’t want to know how to open an account with these brokers or choose the best broker from them, we always recommend comparing these broker spreads, deposit withdrawal processing time, execution time etc. After that choose a broker according to your own. We will shortly shared  review on brokers. So stay tuned with us. You can also open a demo account from the MQL5 site and test your trading strategy. To open an account from one of these brokers please follow these link:
 FBS: https://fbs.com/cabinet/registration?lang=ur&account=stand
Octafx: https://my.octafx.com/open-account
Exness: https://my.exness.global/accounts/sign-up?lng=en

Download trading software

The second step is choose a software option that suits you, download it and login with your account details: To login please follow these instructions:

1. Open metatrader and Click on "File" button.
   
   
   
   
   
2. Click to "Login to Trade Account".
3. Please put the account number in the the "Login" section.
   
   
   
   
   
4. Type there a trading password (for trading) or investor password (read only); Select your broker server name from the list in the "Server" section.

Open your first trade

You can enjoy your first trading experience! You can check yourself how easy it is to open and close a the trade. Video watch from here.

How to make money on forex?

   People will buy a currency pair at a low price and sell it at a high price, and their profit is the difference between the purchase and the sale. The broker receives a small commission from your trade called the spread.   For example:   Let's assume you have $100 in your trading account and want to trade EURO/US dollars. Its exchange rate is 25.1, which means that for 1 euro you get 25.1 US dollars. The exchange rate is like a price tag at a grocery store - the only difference is that the price tags on forex change all the time. Let's assume you buy it and it  rises from 25.1 to 35.1 - this is a profitable situation for you, so you can close the trade at this point. Now, you can convert 80 euros back to 108 dollars, and get your profit of $8. If you go through all these steps, you will be able to start Forex trading. Your success will depend on how ambitious and ambitious you are. Learn, practice and become a better trader for every trade! Best wishes