The various exchange rates which exist
between the main currencies of the world constitute the core of the foreign
exchange market. The price exchange rates are volatile and are influenced by the
different ups and downs that take place around the world. There are a variety
of ways in which one would be able to benefit from the exchange rate fluctuations
in the foreign exchange rates. They are as follows (mentioned by Easy Markets):
a Brokerage Firm: If one has acquired a considerable mastery over
institutions of foreign exchange trade, then it can be a good career choice to
open a brokerage firm. It is possible to be either a market maker or an ECN. If
you’re the former, then you would get the chance to trade directly with the entities
in the liquidity market and place the ‘sell’ and ‘buy’ orders as per the market
fluctuations. After you’ve gauged what would be the very best for you, you
should invest a lot of your time and energy in counter-trading against your client
and prevent them from winning a substantial profit.
However, in case you decide to open an ECN
(Electronic Communication Network) or STP (Straight through Processing)
brokerage, then your company would merely act as a conduit between the trader
and the liquidity market. There would be absolutely no interference from you in
any trade decision that the trader makes, because you’d be earning chiefly off
of the commission or extra spread amount.
an Advisory Website: Once you have gained substantial knowledge about
the tricks and tribulations of the forex market, you can open a website aimed
at spreading knowledge about the FX market. At a low or moderately reasonable
cost, you could conduct online tutorials so that you could educate people on
the basics of foreign exchange trading.
Trading Foreign Currencies’ Exchange Rates: This
is the first and foremost thing that comes to mind when it comes to making
money out of the foreign exchange market. All you need are: basic knowledge of
how to trade, get hold of a computer with internet (or alternatively, a mobile
device) and open a dematerialised account with a bank. Once you have these,
it’d be absolutely fine. What you actually do here, is to place a guess on the currency
rates and see whether they’re going to fall or drop, and place orders
accordingly. In case you trade forex through a brokerage, then you would see
quite a few options in regard to the trading platforms---Currenex, Metatrader,
cTrader etc. On such platforms, you would be able to conduct automated forex
trade with by taking the help of demo accounts, expert advisors and indicators.
All of these would not only help you find your way around the shortfalls of the
market, but it would also make you more efficient at recognising every
potential profit situation.
In my view the best way to make money in Forex is through
proper planning, if we have good plans then we can do just about everything,
but if we are not having good plans then we will have obvious difficulty with
things. I go with OctaFX broker where they help me big time to make extra money
which is to do with their low spreads from 0.1 pips to high leverage up to
1.500 plus there is also superb 50% use able bonus, it’s all very cool.
We just need to collect good education and gain as much experience as we can; it’s something that’s going to lead us into comfort and is what will allow us to be successful. I am always wish to learn more and more, it’s greatly helpful with broker like OctaFX, as they are very special having low spreads, high leverages, bonuses and many such facilities, it’s what makes for trading easier and helps me out with working really nicely with comfort.
Making money through Forex trading is not something you decide to trade and start earning. First you need to have a trader mindset. Making money in Forex is not easy or painless, you have to prepare yourself for the loss also. You need to be well-verse with the Forex market, learn basics of technical analysis, fundamental analysis. Then you can think of demo trading. Demo trading helps you to experience live trading environment with virtual investment and also develop your trading skills. Trade at least 6-7 months on a demo account and once you gain confidence then go for a live account.
making money on forex it's not simple but the first time is to found a good broker, for my experience MARKETS e SWISSQUOTE are the first broker, other Broker like EXNESS look a good broker but when you have the first problem you remain alone, this my experience with EXNESS, they leave me alone for only 500 USD, they lose my credit for only 500 usd.
That’s true Afro, it’s all about practicing well and if we
do that then we will automatically be able to gain money and also will help our
self growing into successful trader. I am able to find practicing so easier to
do because of OctaFX broker since they are very special on all levels with
having several demo contest to participate on. I don’t mind ordinary demo
account at all, but if you work on demo contest then that’s just level above
and brings huge amount of excitement to the play and here it’s very unique with
their cTrader demo contest which is weekly based with 400 dollar prize as well,
so that really keeps up with practicing nicely for me.
It really is not that easy to make money of forex, to feel confident about yourself and enter a more or less stable income, you'll need to spend a lot of time, energy and money. So, forex isn't for everyone.
I don’t think we need to do anything unnecessary or adventurous to make money, it’s all about simplicity and been good at what we do. If we know what we do then we will give our self better opportunity at earning money. If we are always trying unnecessary or complicated stuff then eventually we will burn out and that’s not the way to work in Forex. We just need to keep it simple and Forex is enough in terms of potential to bring rewards for us. I get extra advantage in terms of my broker OctaFX which is class above the rest with low spread, zero balance protection, swap free account plus much more; it’s all present here to make everything work out better!
I am ever hear if only small percent trader that able survive and generated money trough forex business, profesional trader and expert trader, but still possible as retail trader also making money if they having good skill trading, but in my experience making profit from trading forex is not easy at all, required high patience also