Instructions for working on Forex for a beginner.

The Forex market is a great place where you can successfully realize your capabilities and potential. Despite the fact that the currency activity itself is not so simple, most beginners mainly have problems in the first stages of becoming acquainted with this field of activity.

Yes, it is the first steps on the path to a new life that are the most difficult. After you do them, further success will depend only on you, on your perseverance, hard work and ability to learn.

By the way, our website has everything you need to successfully start your career as a trader, and you can trade either independently or with the help of special programs. So, let's start with the step-by-step instructions.

Step 1. Choose a broker.

You shouldn’t be surprised, because we set choosing a broker as the first step for a reason. Unfortunately, there are simply a huge number of companies that, to put it mildly, are playing unfairly against their own clients.

Yes, dishonest, because in order to conduct high-quality trading, your broker must enter all transactions into the interbank market. Almost most brokers have turned Forex into a casino, so they never send transactions to external counterparties, but keep all transactions within the company.

It is because of this approach that a conflict of interest appears between the broker and the trader, and the former, in turn, begins to actively put a spoke in the wheels in the form of various delays, requotes and, in the worst case, the addition of quotes.

As you understand, fighting your own broker is an unequal encounter, because he has all the tools to ruin your life, but unfortunately you don’t have them.

Therefore, we have personally compiled a rating of dealing centers, where you can choose only the best of the best with whom to work. Go to the page “ Rating of dealing centers ” and select a broker from the list.

Step 2. Register

Many Forex broker sites are heavily cluttered with various advertisements and unnecessary offers, which very often complicates the search for the registration button and the choice of account type.

For example, in this paragraph we will show the registration process with the second-highest rated broker on our website, Exness Limited. Go to its page and select the separate “Open account” button in the upper right corner.

After you go to register, a list of account types that the company offers you will appear. This is one of the most important steps, since you need to choose the type of account you will work with.  

Each has its own advantages, but you must balance your account requirements with your deposit capabilities.

After you decide what type of account you would like to work with, click under the description “Open an account”. You will see a registration form where you will need to provide truthful information about yourself.

After you fill out all the fields, you will receive a registration confirmation by email, which will contain all the information for logging into the Meta Trader 4 trading platform.

 
Step 3. Top up your account

Many people at this stage have a lot of problems due to the fact that people have never encountered replenishments and electronic payment systems. There is nothing complicated in this step, since you have just a huge selection of payment systems for replenishment, from WebMoney to regular bank transfer and card replenishment.

To replenish your account, go to your personal account in the “account replenishment” section and select the option that is most convenient for you.

 Step 4. Download and install the terminal

A trading terminal is a program that is designed for opening transactions, as well as market analysis. To put it more clearly, this is the component without which it is simply impossible to open a deal or see a chart with quotes.

There is nothing complicated in installing this application on your computer, because the process itself is no different from installing any other program, such as Word or Excel. To download MT4 you need to go to the “Tools” section on the broker’s main page and select MT4.

In the list of programs that appears, select the one that is suitable for your operating system (computer requirements).

After you download and install the trading platform, you must log in to it. To do this, you will need to enter the login and password that you received when registering your account type.

Step 5. Opening the first trade

When you first get acquainted with it, you may feel confused by the complexity of the program. However, in reality, MT4 is the simplest trading platform ever invented, and the trading process in it is guided by just a couple of mouse clicks. To open a deal, select the asset we need in the “Tools” panel.

Once you have decided on the direction you must make the decision to buy or sell. So, double-click with the left mouse button on the currency pair for which you want to make a deal:

A window will appear in front of you where there will be two options, namely Buy to buy and Sell to sell. Next, you need to indicate the volume of your position and select one of the two proposed options.

The guideline for choosing to buy or sell is your chart, namely, if it is clearly growing, then it is worth buying, and if it is falling, it is worth selling.

To close a trade you have opened, in the lower screen, in the list of open trades, right-click on the trade you want to close. In the menu that appears, select “Close Order”.

If you successfully complete the first steps, then further training will not cause any difficulties. As they say: “The main thing is just to start”!