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13.04.2021

How to start trading on Forex?

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So, you want to become a Forex trader – be your own boss, trade currencies and stocks, make your money work. The natural question is: “Where do I start?”. We prepared a short guide! Below you will find several steps to embark on your journey to becoming a trading expert.

Please note that each of the steps contains a link that offers a clear explanation of what to do.

1. Register at fbsaustralia.com  

During this step, you will pass the verification process, open a trading account and receive your trading password. You will also get aссess to a Personal area, where you will be able to manage your accounts and deposit money that you will use for trading.

Open an account

2. Downloadtrading software 

Choose a software option that suits you, download it and log in. You will get connected to the trading market!

Get MT4 or MT5

3. Discover the basics of Forex 

What exactly is trading? What currencies can you trade? When can you trade? We have prepared a few short articles to answer these questions.

Learn basics of trading

4. Open your first trade

Try your hand in trading! Find out how to open and close orders, what the terms in your ‘Order’ window mean and how to customise your trades. At this point, we recommend you explore the trading terminal in greater detail and study all its important features.

Study MetaTrader

5. Learn to analyse the market

After you’ve learned how to open trades, you will need to decide which trades to open – buy or sell. For that purpose, study how to ‘read’ price charts and understand economic news.

Get a course on fundamental analysis

6. Start controlling your risks   

Learn how to limit your risk exposure and increase your trading potential from the very beginning. 

Apply risk management

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These steps will help you start your journey in online trading. Now you also need to demonstrate drive and ambition. Learn, practice and become a more skilled trader with each trade!

At our end, we are always ready to provide the necessary support. Take part in our regular free webinars and learn directly from trading professionals!

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Got questions? FBS Oceania Customer Support is ready to help!

Contact us via email at support@fbsaustralia.com

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