Requirements for Forex trading

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The Forex training video above is aimed at new traders. The reason why is because there are quite a few misconceptions about the market and the equipment traders need to start trading.

1. The first item you need is a laptop or a computer. A standard power/RAM/processor speed is enough. You do not need a top of the range computer. You will also not need multiple screens unless you are planning to view more than 8 charts at one time. When trading Forex viewing 8 charts is sufficient enough so if you plan to do this; stay with a single screen set-up.

2. Investment/money - It is a quite common misconception that large investments are required if one is to trade. This is not true. You can open a live Forex trading account with as little as $100. Despite this, you should always start trading in a DEMO account for at least three months. Once you are ready and have enough experience and success rate, you should open a live account with the investment you have available.

3. Online Forex Broker - Traditionally, a broker was always required at the other end of the phone to place an order with. With today's internet technology this is no longer required. By signing up with an online Forex broker, traders are able to do this themselves. Simply, go onto our Forex brokers page and find the right broker that suits you - whether you need a demo or a live trading account.