What is Forex?
Forex is a global Foreign Exchange market that allows everyone to trade currencies online.
Can I be a professional Forex trader?
Everyone has an opportunity to trade Forex professionally. It all depends on how patient and motivated you are.
How much can I earn in Forex?
The profit opportunities in Forex are unlimited. Sometimes you can make up to 100% from your initial deposit and more. In average, professional traders make from 5% to 10% stable income on the monthly basis.
How can I make profit in Forex?
The currency trading is always done in pairs: EUR/USD, USD/JPY, etc. when one currency rate is going down, the other one is going up. You can earn money on both increase and decrease of the rate. The principle is to buy cheap and sell expensive or on the contrary: sell for a high price and buy when the price goes down.
How can I start trading Forex?
In order to start trading Forex you have to open a trading account and have an access to the Forex trading platform with all necessary trading tools. If you didn’t trade before, we recommend you to start from a demo account where you can trade virtual money with live rates.
How much should I invest?
It is a sensitive question. For a try you can invest a couple of hundred dollars. If your intention is to make real money, we recommend you to start from $1000 and higher. The more funds you have in your trading account, the more trading positions you can open. Higher deposits increase the chance to make higher profits.
How can I know when it is the best time to open/close position?
There are many strategies that you can use in your Forex trading. We recommend you to read our materials in trading strategy category and practice different strategies in demo trading account to find the one that will work for you. Trading according to the strategy will let you know the exact time when to open and close a trading position with the maximum profit potential.
What currencies should I trade?
For the beginner traders we recommend to trade with the USD currency pairs. They have the lower spreads and more stable. The most popular are EUR/USD, AUD/USD, USD/JPY, USD/CHF, USD/CAD, GBP/USD, NZD/USD
How can I get my profits?
Once you gain profit you can withdraw it all or part of it, leaving some funds for further trading. Usually Forex brokers offer the same withdrawal methods that are used for funding of a trading account. eToro can withdraw your funds to Credit Cards (Visa and MasterCard), Paypal, Moneybookers, Neteller, Webmoney or Wire Transfer.