Trading:
A simple way of trading is called import and export business for any items.
Type of Market
There are 4 Types of Major markets.
Stock Exchange.
Commodities.
Forex Trading.
Crypto.
Forex
Forex’s basic meaning is Foreign Currency exchange. For(Foreign) Ex(exchange) FOREX
Forex Trading
Different countries’ currency exchange according to their country’s conditions is called forex trading.
Approximately 10 trillion dollars businesses earn daily in this market.
It works 24 hrs, 5 days a week, starting Monday and closing on Friday night.
The forex market opens from Sydney and moves on to Tokyo, London, and New York sessions. His head office is located in Sydney and Chicago.
Currency
Every country has different rules and regulations to run their economic conditions with their wealth is called currency. This currency has different names in different countries such as Dollar, euro, JPY, etc. The most powerful in the world is the US currency Dollar.
BROKER
A broker is a party that can provide you with a platform to trade in Forex. Most brokers are fraud and not regulated brokers and these are called market makers. A broker must be registered with their State bank and it provides you the accurate data. Fraud and not regulator brokers are earning when you lose.
A simple way is to create an account with any suitable and trustful broker.
In addition, you have a local bank account and then you can register with the broker to transfer and withdraw your funds with a bank debit card or Skrill account which is connected to your local bank account too.
There are too many Broker in the world but there is some of them registered with their state bank.
Registered brokers only earn when you trade in profit and loss when you trade in loss and market maker brokers are the opposite.
Find the broker and visit their home page and you can find there is 2 option which is an open live account and a demo account.
You have to register both by simply filling out the online form that they are providing.
After registration, they need your bank and personal documents such as a residence electricity bill copy Driver’s license copy, or bank statement to register your account.
In a demo account, you can practice your trading.
The broker provides you with demo money to trade on the real live market.
The best way is to select the same demo amount that you deposit on the real market because it makes you the best practice platform and you will avoid loss in real money.
Account Types
True ECN Account/Low Spread Account
Standard Account
Mini Account
Micro Account
Swap Account
Swap Free Account (for Muslims only)
Meta trader(MT)
This application is called Meta Trader (MT) which broker provide you with a platform to trade on the different currency pairs.
This platform can be easily downloaded on the broker website which is supported by every Windows, Android, and Macbook.
The live account and demo account both are to do trading on this platform.
Currency
Every country has different rules and regulations to run their economic conditions with their wealth is called currency. This currency has different names in different countries such as the Dollar, euro, JPY, etc. The most powerful in the world is the US currency Dollar.
Major Currency Pair
EUR USD
USD JPY
GBP USD
USD CHF
USD CAD
AUD USD
NZD USD
Cross Pair
EUR AUD
AUD CAD
EUR CHF
EUR GBP
CAD CHF
GBP CAD
Many more which is not paired with the Dollar.
