Forex is a great way to make money from your investments – provided you know what you’re doing, that is. And of course, that’s the catch-22 of Forex trading. You need to be experienced to make good money, but you can’t gain experience without diving in.
So, what should you know if you’re a beginner and you want to start investing in Forex?
Why Forex is a Great Place to Invest
Forex is a great place to invest for many reasons, some of the major ones being:
- Accessibility: you can simply start trading from home, and you don’t need a huge amount of capital to get started. It is important to note, however, that the nature of trading is high-risk, and while you can get started in Forex trading for as little as $100, you need capital to play with when you’re starting out.
- 24-Hour Market: unlike other stocks and shares, the Forex market operates 24 hours a day, so you aren’t confined to certain time zones or Monday – Friday, which can make normal day and short-term trading prohibitive for the average person who has to head out to work.
- Profitable: the reason why so many people are attracted to Forex (and why so many scammers try to take people’s money to manage their Forex trading for them) is because it can be extremely lucrative. Of course, where there’s a lot of profit to be made, there’s also high risk.
You’ve Got to Do Your Due Diligence
As mentioned above, because so many people are attracted to the idea of making money Forex trading, there are a lot of scams out there, so you’ve got to do your research before trusting anyone or any platform and trade for yourself.
If you want to make money in Forex, you can’t hand your money over to someone else on the internet. You absolutely can take their advice and suggestions on how to trade, but you should always be responsible for your trades. Taking advice and suggestion is called listening to Forex Signals, and it’s a great way to advance your trading career.
How Do You Find Forex Signals?
Forex signals can be shared in any way, because they’re simply a suggestion on trades you can make. They’ve often been shared in email newsletters and texts, but of course now apps have come about that’s an even more convenient way to push signals to the people looking for it.
When you look for best Forex signals to trust, you need to look for experienced traders behind the app and don’t get lured in by free signals (unless it’s a free trial). Free signals aren’t going to be profitable, and they’re likely making money from ad revenue or a similar way.
FXBro: The Forex Signals App We’ve Been Waiting For
Maksim Konstantinov and Nina Konstantinova (Max and Ninel – check them out on Instagram @forex and @my_fx_journey) are professional traders with a combined experience of over 15 years in finance. These two master traders are joining forces to bring us FXBro, a signals app that’s accessible enough for beginners and experienced traders alike.
FXBro is currently in development and is expected to release in October 2020. They’ll be sharing their top class signals with members of the app, and guiding beginners through the steps it takes to become a confident trader through their course, FXBro Academy.
Will Following Signals Negate the Risk of Forex Trading?
No. Forex trading means taking on a large risk for a big reward, and sometimes that means gaining and losing money in large amounts as you ride the waves of the market. Of course, being influenced by expert signals will help, but it’s still down to you to pull the trigger.
If you’re not comfortable with risk Forex trading isn’t for you. If you’re ready to take on the risk but don’t know where to start, the Academy is your answer.
FXBro is launching in October, and so if you’re looking to take your trading to the next step or finally make a start with legitimate, experienced traders behind you, you need to join at launch. To be notified about the launch of FXBro, simply head to www.FXBro.com to sign up.