Jump to content
  • 0

How can I become a Forex currency trader?


Linah
 Share

Question

Hello, I need some help. I'm so interested in becoming a trader and even making a career out of it. However, I really don't know how to kickstart a successful trading career exactly. I need rigorous advice, please. I need to know the basics of a successful trading career. Where do I start and what do I need to have?

Link to comment
Share on other sites

1 answer to this question

Recommended Posts

  • 0

Hello Linah, also known as a forex trader, a forex currency trader, is one who buys and sells currencies on foreign exchange. These traders may include amateur traders who take part in trading for the sake of gaining money. They usually trade to meet their needs, and others do it to pastime.
With patience and little money, then you can be a Forex trader. However, one needs to limit their losses to become a successful trader.
You need to know where and how you will trade in the Forex market for you to become a Forex trader. 

There are three ways you can trade foreign currency; One of these ways is on a Commodity Futures  Trading Commission regulated exchange. Second, by the U.S Securities and Exchange Commission and finally in off-marked exchange.

After this, you are required to create a brokerage account in which you will start trading by choosing the currencies you are willing to trade. Some popular U.S forex brokers include Interactive Brokers and  Forex.com. As a beginner, you should mostly trade currencies that are widely traded, such as the British pound and the U.S. dollar. These currencies usually have the smallest spreads. Good luck with starting a trading career.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. To reply to this question, sign in or create a new account.

Guest
Reply to this question

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

×
×
  • Create New...