3 Points to Remember When Starting Forex Trading – Forex trading or selling and buying in forex exchange market now become more popular. For the investors, forex trading potentially give the investor a great profit after doing some transaction on Forex market. Before the investor start trading in forex market, there are three points that the investor must understand and remember.
Commissions and Spreads
Before starting to buy or trade in Forex market, the investor has to see the rules about commissions and spread from brokers that the investor has chosen. Each trade can be different just as how each online gambling game in https://multibet88.online has different rules of plyaing. Brokers usually require the investor to pay commissions in the beginning of every transaction.
In other way, they also will charge the investor for another fee when the investor spread or make the investor transaction go wider. Some points about commissions and spread:
– Different Broker, Different Rules
First thing first, check the rules on broker the investor chose. They usually have different rules about commissions and spread. Before the investor start to trade, ask about the comission either they will charge the investor for another fee when spreading the transaction or just pay in the beginning of every transaction.
– Survey for Broker and Their Rules
Broker is the one who has important roles on the investor transaction. Rates of commissions and spread clearly will affect the investor earnings directly. When the investor want to start trade in Forex trading, make sure that the investor have already chose the right broker and understand all the rules. Based on that, the investor can start to count the investor earning in a period of forex trading.
If commission and spread are too big, it will make the investor earning lower than the investor deserve. Many broker take charges twice. Highly recommended for the investor to choose broker with lowest commissions required.
– Levels of Accounts
When starting to be a Forex trader, investors must open a forex account first. There are 3 different levels of Forex account that investor can choose based on their needs. For beginner, smallest account is highly recommended to start a trade in Forex market.
– Micro Account
Micro account is the smallest kind that the investor can choose. Usually investors try to make micro account when starting to use demo mode to learn about Forex trading,
– Mini Account
Mini account is very recommended for beginner trader when the investors can start with a small trade, below 10,000 units for each transaction.
– Stardard Account
Stardard account itself is the professional account that required bigger amount of transaction (more than 10,000 units) for each transaction.
Understanding the rules ad what points about trading is very important because investor can make a better plan after understanding the rules and also count the profit from Forex transaction.