Instructions for working on Forex for a beginner.

The Forex market is a great place to successfully realize your potential and opportunities. Although currency trading itself isn't all that simple, most beginners encounter problems primarily during their initial introduction to this field.

Yes, the first steps toward a new life are the most difficult. Once you've taken them, your continued success will depend entirely on you, your persistence, hard work, and ability to learn.

By the way, our website has everything you need to successfully launch your trading career, and you can trade both independently and with the help of specialized programs. So, let's begin our step-by-step instructions.

Step 1. Select a broker.

This shouldn't come as a surprise, as choosing a broker is a good reason we made it the first step. Unfortunately, there are a huge number of companies that, to put it mildly, play unfairly against their own clients.

Yes, unfair, because to conduct quality trading, your broker must route all trades to the interbank market. Almost all brokers have turned forex into a casino, so they never route trades to external counterparties, keeping them all in-house.

It is precisely because of this approach that a conflict of interest arises between the broker and the trader, with the former, in turn, actively putting a spoke in the wheel in the form of various delays, requotes, and, in the worst case, quote revisions.

As you can imagine, fighting your own broker is an unequal battle, as they have all the tools to ruin your life, and unfortunately, you don't.

That's why we've personally compiled a rating of dealing centers, allowing you to choose only the best brokers to work with. Go to the " Dealing Center Ratings " page and choose a broker from the list.

Step 2. Register

Many forex broker websites are heavily cluttered with various advertisements and unnecessary offers, which often makes it difficult to find the registration button and choose an account type.

As an example, in this section, we'll show the registration process with Exness Limited, our second-ranked broker. Go to their page and select the "Open Account" button in the upper right corner.

After registering, a list of account types the company offers will appear. This is one of the most important steps, as you need to select the account type you want to work with. 

Each of them has its own advantages, but it is necessary to balance the account requirements with your deposit capabilities.

Once you've decided which account type you'd like to open, click "Open an Account" under the description. You'll see a registration form where you'll need to provide accurate information about yourself.

Once you've filled in all the fields, you'll receive a registration confirmation email containing all the login details for the Meta Trader 4 trading platform.

 
Step 3. Top up your account

Many people encounter a ton of problems at this stage because they're unfamiliar with top-ups and electronic payment systems. This step isn't difficult, as you have a huge selection of payment systems to choose from, from WebMoney to regular bank transfers and card top-ups.

To top up your account, log in to the "Top up your account" section in your personal account and select the option that is most convenient for you.

 Step 4. Download and install the terminal

A trading terminal is a program designed for opening trades and analyzing the market. More simply put, it's the component without which it's simply impossible to open a trade or view a price chart.

Installing this application on your computer is straightforward, as the process is no different from installing any other program, such as Word or Excel. To download MT4, 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 need to log in. To do this, you'll need to enter the username and password you received when registering your account type.

Step 5. Opening the first trade

When you first get started, you might feel overwhelmed by the program's complexity. However, MT4 is actually the simplest trading platform ever invented, and trading is accomplished with just a few mouse clicks. To open a trade, select the desired asset in the "Tools" panel.

Once you've decided on a direction, you need to decide whether to buy or sell. So, double-click the currency pair you want to trade:

A window will appear with two options: Buy and Sell. Next, you'll need to enter your position size and select one of the two options.

Your chart serves as a guide for choosing whether to buy or sell. If it is clearly rising, you should buy, and if it is falling, you should sell.

To close an open trade, right-click the trade you want to close in the list of open trades on the bottom screen. Select "Close Order" from the menu that appears.

If you successfully complete the first steps, further learning will be a breeze. As the saying goes, "The main thing is just getting started!"