At XM we offer both Micro and Standard Accounts that can match the needs of novice and experienced traders with flexible trading conditions and leverage up to 888:1. Joining easy-forex is free of charge and does not obligate you to make a deposit or conduct a trade. For example, the quotation EUR/USD 1.2345 is the price of the euro expressed in US dollars, which means that 1 euro equals 1.2345 US dollars. The online application will take approximately 5-10 minutes to complete. If all required documents are submitted (Copy of Photo ID, Proof of address etc.), the account can be set up within 24 hours (during normal operating hours).
You will learn how to identify trading opportunities, how to time the market (aka smart guessing), and when to take profits or close a trade. With FBS it is easy to make money trading Forex. We strive to provide the best customer experience and give the widest opportunities to our trader!
The first time Rajibuddin Mandal, a family doctor in Birmingham, England, tried his hand at trading currencies online, he lost 2,000 British pounds. From that experience, he concluded that the foreign-exchange market was too big, too complex and too hazardous for amateur investors like himself. He decided he needed help from the professionals.
For a Buy 2 lots EUR/USD� position the transaction size is 200,000 EUR which corresponds to 220,000 USD, given a EUR/USD exchange rate of 1.10000. Considering that for a USD 100,000 transaction size commission is charged for both opening and closing the position at USD 5 each, for this transaction it will be: 2 x (5 x 220,000 / 100,000) = 22 USD. The commission fee is deducted from the account during the opening of the transaction for both the operations at once (opening and closing).
As most Forex brokers will warn you, you can loose money in the foreign exchange market, so don't put your life savings into any one trade. Always trade with money that you'd be able to survive without. This will ensure that if you get a bad trade and loose a lot of money, you wont end up on the streets, and you'll be able to make a comeback in the future.