Frequently asked questions
What Is Forex?
Forex, also known as foreign exchange, FX or currency trading, is a global market where all the world’s currencies trade. The forex market is the largest market in the world with an average daily trading volume exceeding $5 trillion. All the world’s combined stock markets don’t even come close to this.
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Why should I trade Forex?
There are many advantages of Forex trading. It can be done on the move and from any country in the world. You can fit it around your schedule and only place trades when you have the time. It’s a 24 hour market, so even when you’re sleeping, the markets are moving. Profits from Forex trading can be used to improve your life. Whether it’s clearing debt or paying for a holiday. You’re giving yourself potential to earn more money, from an income source you didn’t previously have.
What do I need to trade?
Trading can be done on any device, just so long as it can run the required apps or software. You can use your phone, tablet, laptop or desktop PC. Apple, Android and Windows all compatible.
Is My Money Safe?
Orderly trading takes place most of the time, and as a result, putting money in the forex market is safe if you understand what you are doing. A disciplined, well-educated trader is a safe trader.
How Much Do I Need To Start?
This depends entirely on you, and also the broker you use. You can start with as little as $100, or as much as you want. Some brokers have a minimum deposit amount, so be mindful of that.
How much can you expect to make?
It really depends on a number of factors – how much you’re trading with, your lot size, the number of trades you’re making and also your risk management.
Is Forex a 'get-rich-quick' scheme?
We urge all our students to take a realistic approach to Forex trading, especially in the early days when you’re still learning. Patience is key and you have to learn the ropes before you can start aiming for the big bucks. Initial profits are great for increasing your motivation for trading, and give you more confidence as you continue on your journey.