Forex for Beginners
Learn the Basic
Understand the basic knowledge about forex trading and how to get profit
What is Forex Trading?
The foreign exchange or currency exchange - called forex - is the conversion of one country‘s currency to another, you can exchange your USD to Yen, GBP to EUR and vice versa. The forex market operates 24 hours a day, except weekends, and the exchange rates between currencies are always changing, enabling forex traders to take advantage on every single fluctuation in the market, even it is a small one. Forex market is the largest market in the world, it has the largest daily volume, hundred times larger than any other market available at this moment.
Gaining Profit on Forex Market?
Forex market is affected by multiple aspects, beside economic. So many groups with different goals enter and exit forex market. The governments and central banks, large banks, worldwide companies and speculators join the market from time to time to meet their objectives and needs, causing the rates fluctuates over time. As forex traders, we will always try to gain as much profit as we can gain on these opportunities.
For example, a trader with $2,500 capital bought 1 lot of EUR/USD on 1.2790 and two hours later, the European Central Bank stated there is a significant decrease on Europe unemployment number, indicating the economic is growing nicely. It spurred bigger interest in Euro worldwide and caused its value to rise, EUR/USD is now hiking to 1.2850. The trader decides to close its buy order at 1.2850, means he has got 60 pips profit, or equivalent to $600 on 1 lot trade. He has raised his account for over than 20% in just a few hours.Learn what we offer
Leverage and Micro Lot
The contract size used at FXOptimax is a 100,000 unit standard lot size. Despite of providing $100,000 starting capital, traders can take advantage on our up to 1:1000 leverage or in other word, FXOptimax lends trader the $100,000 to cover the required margin despite of the much smaller amount of deposit made by trader in fact. Besides, FXOptimax provides micro lot support, which allows traders to trade on 0.01 lot instead of the 1 full lot.
Let us assume we are using 1:1000 leverage, instead of $100.000 balance to open a 1 lot buy on EUR/USD, trader only need $100 instead. For 0.01 micro lot trade, trader can start trading with just $1.
Combined to a good risk management and adequate market knowledge, leverage is an excellent opportunity to optimize your profit.
How to Analyze the Market?
Analyzing market is an important step to do for all traders in the world. There are two approach, the fundamental analysis and the technical analysis.
Fundamental analysis learns about the global situation that affect the market, including the economic, social and political aspect between nations, which imply to their respective currencies.
Technical analysis emphasizes on statistical calculations from the current and past price movement. With the help of useful indicators and easy to read charts, technical analysis is far easier to perform than in the past times.
Combining both fundamental and technical analysis will allow you to take better decision to react on price movement. Forex is a high risk investment, proper education and good understanding of forex market, including the analysis methodologies and risk management are required before starting your own trade.
One of the main advantage of forex market is its large numbers of participant, unlike the other available markets. This is also the main reason why forex market tends to be more volatile compared to the others.
Banks, including commercial banks and investment banks, operate smaller scale transactions, compared to the central banks. However, banks globally are conducting financial transactions daily to accommodate the needs of people and businesses all around the world.
Hedge funds manage a huge amount of money from their investors. They invest these massive fund in diverse range of instrument, including the forex markets and they certainly affecting the market.
International Companies and Investors
Large companies deal on currency conversion to run their business. They are closely related to the export and import activities between one and another companies in different nations, which surely have different currencies. Thus currency conversions are needed and they have some influence in forex market. Investors require currency conversion when they want to invest in foreign assets, for example bonds, equities and real estates.
Traders around the world buy and sell stocks, currencies and any other derivatives, to seek profit from the price fluctuations. Speculators commonly have no intention to have a long term exposure.
Online Forex Trading Platform
FXOptimax uses MetaTrader 4, or widely known as MT4, as its trading platform. MT4 has superior technologies, allowing traders to access the forex market anywhere, anytime. Traders can easily get the current price quotes and they are displayed in customizable charts to provide a much better visualization on the market action.
Analyzing the market is also far easier through MetaTrader 4. Traders may add multiple famous indicators or create their own indicators to support the trades. Furthermore, once a trader has discovered a nice trading strategy and behavior, it can be automated through a fantastic feature called the Expert Advisor (EA).
Completing these vast amount of advantages, MetaQuotes adds mobile support for MetaTrader 4. Traders are able to download the appropriate mobile version for any iOS or Android tablets and smartphones, connecting you to the market all the time whenever your gadget is in your palm.Our platform
Autotrading, or commonly known as algorithm trading, is a computerized trading controlled by sophisticated program. Professional and expert traders or finely tuned Expert Advisor can control the trades. Traders may use their signals to copy the trades in their own accounts and generate bigger profits than they usually earned.
FXOptimax provides the autotrading support, allowing traders to earn more and more profit, by following thousands of prospective signal providers. While having your account automated, you can still manually control and intervene the trades via your own MT4.FXOptimax Forex Copy