Trade Forex Trading

How to Open A Account - Platform Real Accounts - How to Open Real MT4 Account

This guide will show traders how to set up their account so that as they can begin to trade forex. Before signing up a account there are different factors & aspects which traders should consider before taking this step.

To open a trading account, traders need to find an online broker and then they can setup their trading account with the broker that they choose. Once a trader opens this trading account the trader will then use it to place trade positions in online market & the profits and losses that they make trading will be accounted for in this account.

A trader will need to consider the following factors & aspects when signing up a trading account:

Regulation of Broker

Before opening a account traders must first know that they should only select and choose to trade with a regulated broker. In there are hundreds of online brokers, some are regulated and other which are not. A trader must do due diligence when choosing a broker & check the regulation license details and particulars of the online broker they want to trade with. Remember some brokers which are not regulated will write an article on their website about forex regulation and link to this article - if a trader is not careful they will be tricked into thinking that the broker is regulated, make sure to check the license details and particulars of the broker & you as a trader can also confirm these details and particulars with the regulatory authority regulating the broker.

Leverage

Investors & Traders should consider the leverage offered by the online broker when it comes to opening and accounts. With leverage a trader controls a big/large amount of capital while using little of their capital. Leverage is one of the explanations why a forex is very popular because traders can make a lot of profit from forex using little of their money.

A trader should therefore consider the leverage given by a broker some brokers give 100:1 and others as high as 400:1, with leverage 400:1 a trader who deposits $1,000 can borrow $400 for every $1 that they have & therefore the trader using this leverage will control $400,000 which they can use to open trades with.

Stop Out Level

This is where a online broker will close out all the transactions of a fx trader if the traders makes losses beyond a certain level. The best brokers will implement their stop out level at 20 % and at this level there is minimum chance of a fx trader's trade transaction getting closed. However, there are brokers who are not very straight & these online brokers will set the stop out at 100 % and with this level the likelihood of the trader’s transaction getting closed or stopped out are very high. A trader should make sure they sign up a trading account with a online broker setting the stop out at 20%.

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