Forex-London

Q: What is FOREX?
A: FOREX is a short word for FOREIGN EXCHANGE (sometimes abbreviated simply as "FX") . It refers to the global, worlwide decentralized market for trading currencies. In short, it is where people buy and sell currencies (or moneys), like US Dollar, Euro, British Pound, Japanese Yen, Canadian Dollar, etc. By common use of the word, FOREX could also refer to the "currency" itself. As in the sentence: " I trade FOREX!", which simply means "I trade currencies!".

Q: What is FOREX Trading?
A: As the word clearly suggests, it is the buying and selling (which means trading) of currencies, like buying Japanese Yen, with your US Dollar.

Q: Who can do FOREX Trading?
A: Today, anyone with little money can do FOREX Trading, as long as they have the passion and dedication to succeed. In the past, FOREX trading was limited to very wealthy people only who have a lot of money for trading capital, or who have special relationships with the banks. Now, that has changed. Anyone who has as little as $1 or $300 can open an account online to trade FOREX. Having said that, you need to understand first how FOREX works; its nature, benefits, rewards and risks, for you to become a successful and profitable online FOREX trader.

Q: How much money do I need to start trading FOREX?
A: Some companies allow people to open an account to trade FOREX online with only $1. Some require a minimum amount of $300. But ideally, $1,000 (preferrably $2,000) is a reasonable amount to start with, so you have a bigger room to get around. Or, if you are not that decided yet, you can always open a no risk Practice Account for FREE (which we recommend).

Q: What is a "Pratice Account"?
A: A Practice Account is a free trial account usually offered to beginners for them to learn and practice trading FOREX online, with no risks. With a Practice Account, you can trade FOREX online in real time, with real-time gains or losses. But don't worry, it is just a Practice Account, so you will not actually lose (or gain) real money. Practice Accounts are for practicing, learning, and for fun!

Q: Where can I do FOREX Trading?
A: In the past, it was a bit difficult to trade FOREX as it was done physically on the trading floors of trading centers, and later, over the telephone. But, with the advent of online technology, today you can now trade FOREX online, using your computer and the internet! (From wherever you are - from home, from your office, or even while you are travelling!)

Q: Do I Have To Be An Expert To Trade FOREX?
A: No. You don’t have to be an expert to trade FOREX. Online trading platforms are generally made simple and user-friendly, so even beginners can start trading. Also, many platforms now offer features that allow beginners to "watch, follow, and copy" exactly the actions and techniques of the richest and most successful traders. So, beginners can actually trade like an expert, too! Having said that, we encourage everyone to learn more about FOREX on a continuing basis, so as to master the trade themselves, over time.

Q: Is FOREX Trading a business?
A: Yes. Making money with online FOREX trading is a business. Like in any other businesses, you need money, tools, planning, strategy, information, and determination in order to succeed. Naturally, as a business, it has its own benefits and rewards. And risks, too!

Q: What are the risks?
A: Well, to put it simply, the risk is you, losing your money (loss), and the reward is you, earning money (profit)! Like any other business risks, this risk can be managed. Like you, running your own restaurant, you need to manage it properly to avoid losing money, and earn profit instead! So, your success, really, depends on your own hands.

Q: How Do I Start?
A: You need to learn and understand first how FOREX works. As you know, learning is a continous process. We recommend that you try a FREE Demo Account (Or Practice Account), with no risks, to have a hands-on learning experience about trading FOREX online. You need a computer with internet connection to do this. Once you decide to try a Demo Account, you can choose which platform you would like to use.

Q: What is a platform?
A. A platform is a piece of software which will serve as your tool to trade FOREX. (Like your MS Word which serves as your tool to type words, or Yahoo Messenger which serves as your tool to chat online).This platfrom needs to be downloaded (or installed) into your computer, so you can use it to trade FOREX online.