How to Start Forex Trading?
To start trading on the Forex market you need a computer with the access to the
Internet (preferably fast, but any connection will work if you won’t be
scalping). On the Internet you’ll have to join one of the on-line Forex
brokers. There are many such brokers available nowadays; chose the one that is
more comfortable for you. A good on-line
Forex broker
should:
- Accept traders from Nigeria.
- Allow small accounts and deposits, so you can try it with a little money before starting a serious trading.
- Offer a variety of payment methods for depositing and withdrawing funds, especially WebMoney, e-gold or PayPal.
- Provide the convenient ways for trading — either a newbie friendly trading platform or powerful MetaTrader platform.
- Be a reputable and trustworthy on-line company, to which you could trust your trading account’s security.
- Have a fast order execution and funds transaction processing.
- Offer a dedicated on-line and on-phone support.
As it was mentioned before, there are many Forex brokers available, but here
presented is the list of the most prominent representatives of the on-line
Forex brokerage market:
- FXOpen — the broker
that supports MetaTrader 4 trading platform; deposits/withdrawals via WebMoney,
e-gold, Wire Transfer, CashU, e-Bullion and Liberty Reserve; micro accounts from
1$, mini accounts from $100; free $25 bonus; regular trading contests; it
operates for more than 1 year already and has a professional multilingual
support team.
- LiteForex — a Forex
broker with a very large member base and a long history, it offers MetaTrader 4
platform; WebMoney, e-gold and WireTransfer as payment methods; excellent
support service and a guaranteed stability of one of the most trusted Forex
brokers. Cent accounts are allowed.
-
InstaForex —
a rather new Forex broker that can booast a wide range of deposit/withdrawal
options, one of the best conditions on the market, MetaTrader 4 trading platform
and the 6% interest rate for non-Muslim trading accounts. InstaForex
specializes itself on traders from Nigeria.
- Marketiva — the pioneer of the newbie-friendly
Forex trading, Marketiva offers a very easy-to-use trading platform with a lot
of functionality, as well as support chat and advisors’ chat; options for
funds deposit/withdraw are WebMoney, e-gold, Wire Transfer, e-Bullion and
E-Dinar. Cent accounts are allowed.
-
FXcast — this Forex broker introduced a 1 pip spread trading
with its revolutionary FXcast Swing platform for small accounts. It offers
MetaTrader 4 platform for $10 and larger accounts. FXcast offers almost every
possible method to deposit and withdraw funds from the trading account.
After you open a trading account with some Forex broker, you will have to
download its trading platform, deposit the required amount of initial funds to
your account and start trading.
But to trade successfully you have to educate yourself about Forex, next
section of this site is devoted to the process of learning to trade on Forex.
