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With the expansion of the global economy, currency demand among different countries has gradually expanded, and foreign exchange trading has become the financial market with the largest trading volume in the world. Forex trading is the exchange of one country's currency with another country's currency. Unlike other financial markets, the forex market has no specific location or central exchange. Instead, it operates through an electronic network of banks, businesses, and individuals. Foreign exchange trading is not only a tool for users to hedge the risk of future exchange rate fluctuations, but also a method for investors to make profits from currency investments.
As the methods of forex trading gradually evolve, more and more people are starting to trade foreign exchange . Among them, there are inevitably some forex trading beginners who do not know how to trade forex properly and lack a mature trading system. It makes them incur losses in trading. Finding opportunities in the market becomes a barrier for novice traders. Many brokers set up demo trading to encourage users to participate. Demo trading faces the same market fluctuations as live trading; the only difference is that the money in the account is virtual, while other operations are the same. The main purpose is to help novice traders become familiar with how forex trading works, try different trading strategies, and improve their trading skills.
Oanda, founded in 1996, is one of the early online forex brokers. It serves traders globally with headquarters in the United States and branches in Canada, Singapore, the UK, Japan, and Australia. Oanda offers trading instruments such as Forex CFDs, Indices CFDs, Commodities CFDs, Crypto CFDs, and Bonds CFDs. Oanda accounts are mainly divided into two types: the standard account, which is suitable for both novice traders and experienced professional traders, and the premium account for high-volume elite traders. If a trader's volume meets the platform's requirements, Oanda will rebate part of the trading fees. Oanda also provides the popular MetaTrader 4 trading platform, TradingView and its proprietary trading mobile application.
The Relative Strength Index, short for RSI, is primarily used to evaluate the strength of bullish and bearish forces and measure the momentum of price changes in terms of speed and magnitude.
Every successful day trader adheres to a set of strictly followed trading systems and commonly used technical indicators, and moving averages remain a popular choice due to its user-friendly nature and high practicality. By using moving averages, traders can smooth out time fluctuations and more easily identify the future price trend, thus, featuring a higher rate of successful day trading.
Looking to trade with HYCM? Here's our straightforward guide on how to get started with a demo account.
Looking to trade with easyMarkets? Here's our straightforward guide on how to get started with a demo account.
Looking to trade with NCE? Here's our straightforward guide on how to get started with a live account.
We will detail how to open an account at FP Markets, and how to connect to our WikiTrade. Follow our evaluation steps, and we believe that these steps will become easy for you.
We will detail how to open an account of VT Markets, and how to connect MT4 trading platform to our WikiTrade.
We will detail how to access FXTM from WikiFX, how to open an account, and finally how to connect to our WikiTrade.
Hantec Markets is a United Kingdom-based brokerage firm that operates under multiple regulatory bodies. The firm offers Contract for Difference (CFD) trading services across various financial instruments, covering currency pairs, stocks, indices, cryptocurrencies, commodities, and bullion. Hantec Markets caters to traders of different experience levels by providing access to popular trading platforms such as MetaTrader 4 and ZuluTrade. This allows traders to execute their strategies seamlessly and benefit from advanced trading tools and features. One of the key advantages of trading with Hantec Markets is their competitive pricing structure. The broker offers tight spreads starting from 0.2 pips on certain instruments, allowing traders to minimize their trading costs and potentially increase their profitability. Today, let's explore how to open a real trading account on this platform and then access whether opening an account here is simple and fast.
Avatrade is a trustworthy global brand, renowned for offering access to forex and CFDs , and it has been once again named the "Best Broker for Education and Beginners of 2024" due to its outstanding educational content. Avatrade excels in copy trading and is highly competitive in mobile trading, while its pricing and research are in line with the industry average. This broker is always committed to providing an excellent trading experience for traders of all kinds. Today, we will test the account opening process at Avatrade to evaluate whether it is simple and quick, offering users a good account opening experience.
eToro was founded in Israel in 2007, and has expanded to a range of international markets over the years, allowing clients to invest in stocks, ETFs, currencies, cryptocurrencies, and CFDs. eToro stands out for its social trading features, including CopyTrader, which enables novice investors to copy the strategies used by top performing traders on the network. Beyond accessing global markets, users also benefit from innovative offerings like eToros virtual portfolio capability that allows practice trading using real market data.
Finviz, standing for “Financial Visualization,” is an inclusive online platform catered towards financial professionals, traders, and investors, providing a wide array of tools, data, and resources for analyzing financial markets, especially stocks.
Dogecoin, the cryptocurrency that started as a joke based on a popular internet meme, has now gained recognition as a legitimate digital asset. Whether you're an experienced crypto trader or a beginner venturing into the world of digital currencies, our guide will provide you with a simple and straightforward way to purchase Dogecoin using one of the most reliable crypto exchanges, Coinbase. Let's delve into the process.
Indeed, forex trading allows vast traders to dream of making large fortune and then become rich quickly. Yet, this road starts with a pivotal choice: selecting a broker that not only provides a gateway to the markets but also supports your growth from novice to experienced trader. A broker that blends an intuitive interface, transparent trading conditions, a rich library of educational materials, and unparalleled customer support is vital for beginners. Oanda, obviously, is an ideal option for beginners.
Trading can be thrilling and sometimes complex. One popular method is 1 Minute Scalping. This approach is great for traders who enjoy quick action and instant results, capitalizing on small price changes in very short timeframes. In this guide, we will break down what the 1 Minute Scalping Strategy is, why it can be beneficial, and share some scalping indicators for you.
IC Markets, founded in Sydney, Australia, in 2007, is a highly commended broker recognized globally for its superior trading services. Registered with the Australian Securities and Investments Commission (ASIC), it also enforces strict regulatory compliance, assuring reliability and security. IC Markets, renowned for its wide assortment of tradable instruments, gives traders access to forex pairs, commodities, indices, bonds, and cryptocurrencies, among others. By offering both the MetaTrader and cTrader platforms, the broker cares about more traders, facilitating sophisticated charting, algorithmic trading, and more. IC Markets is celebrated for its competitive trading costs, notably for its low spreads and affordable commissions. With customer service held in high regard, you can expect prompt, multilingual assistance 24/7 via live chat, email, and phone. The recognition IC Markets boasts is solidified by its global reputation, network of international clients, and high recognization
Ledger is a pioneering company in cryptocurrency hardware wallets, founded in 2014 by Eric Larchevêque, Nicolas Bacca, and Joel Pobeda. Their flagship product, the Ledger Nano S, was introduced in 2016 and quickly gained popularity among crypto enthusiasts and investors for its robust security features and user-friendly interface. Designed as a cold storage solution, Ledger wallets keep users' private keys isolated from the internet, protecting them from online threats and unauthorized access. These wallets support a wide range of cryptocurrencies, allowing users to securely store, manage, and transact with various digital assets. With features like seed phrase recovery, PIN code protection, and a secure chip resistant to physical attacks, Ledger wallets prioritize the safety and convenience of managing cryptocurrencies, making them a trusted choice in the crypto hardware wallet market.