Forex broker programs are the best way to get a foot in the door with Forex. So you’ve been watching the market and you think you’re starting to get a handle on what it makes it tick? Maybe you even made a few predictions that came true and would have made you a bundle. Well it seems you’ve got the motivation and the instinct now all you’ve got to do is sign up with a reputable Forex broker and start trading.
Whatever your ambitions rest assured you’re not alone. In the last decade or so advance in IT have completely transformed Forex trading making it accessible for the masses and causing the market to grow at an astounding rate. Currently over three trillion dollars are traded every day making it the most liquid market in the world by far.
When you approach a Forex broker the first thing you’ll need to consider is the type of account you’re going to open. Most brokers will offer you a standard account straight off the bat. These usually require a minimum deposit of up to $10000 and allow you to start trading immediately. If you think you’re a Forex prodigy then by all means opt for the standard account, however most newcomers benefit from some time with a demo or mini account first.
A demo account let’s you trade against authentic Forex data updated in real time, but with fake money. Even veterans sometimes use demo accounts to practice their strategies without bearing the related risk. A mini account is the same as a standard account but requires a smaller initial deposit and allows smaller trades.
Your Forex broker doesn’t just provide you with a trading account; they also provide you with guidance, technical support and encouragement. That is why it is so important that you chose the right broker and make the most of the massive opportunity that Forex trading represents.