How To Trade Forex For Beginners

What is forex trading?

Forex trading is a global industry that allows traders worldwide, irrespective of geographic location, to buy and sell different countries' currencies and profit from their price fluctuations.

What is traded in forex?

With the high demand for forex and investors' quest for diversification of portfolios, brokers today have been meticulous in responding to these demands. Hence, we do not just trade foreign currencies alone in forex; more financial tools have been added. Below is the list of the financial instruments traded in forex today:

1. 1. Currencies: There are three major groups of currencies traded in forex today.
      1. 1. Major Currencies: We have four major currencies Euro, Pound sterling, the US dollar, and the Japanese Yen. These four are the most traded today in forex. Examples of their crossing include,
            1. 1. 1. EUR/USD
                  2. USD/JPY
                  3. GBP/USD
         2. Minor Currencies: Other pairs outside the four major currencies listed above are called minor currencies. They include,
            • 1. Swiss Franc (CHF)
              2. Canadian dollar (CAD)
              3. New Zealand dollar (NZD)
              4. Australian dollar (AUD), etc.
                 
                 
            • They are usually crossed with the major currencies in the forex market.
            • Hence we find them as USDCHF, USDCAD, NZDUSD, AUDCAD, EURCHF, etc.
         3. Exotic Currencies: Exotic currency refers to indigenous currencies. They are less popular compared to the minor and major currencies. Examples of exotic currencies are,
            1. 1. Norwegian Krone (NOK)
               2. Singapore Dollar (SGD)
               3. South African Rand (ZAR)
               4. Polish Zloty (PLN), etc.
   2. Commodities: There are three major commodities traded today in forex. They are Crude oil, Gold, and Silver.
   3. Cryptocurrency: These include: Bitcoin, Ethereum, Cardano, Polkadot, BNB, Litecoin, ChainLink, Uniswap, Stellar Lumen, etc.
   4. Stocks: Stocks are a company's shares listed on an exchange. The major stocks traded today are Apple, Microsoft, Amazon, Alibaba, eBay, Zoom, Google, Facebook, Twitter, etc.
   5. Indices: A combination of stocks. Examples include S&P 500 Index, US 100 Index (Also known as Nasdaq 100), Volatility S&P 500 Index, Dow Jones Industrial Average, US 30, SPX500, HK50, JP225, FRA40, CHI50, ESP35, IT40, etc.
   6. ETF: These refer to the exchange-traded funds which include:
      1. 1. 1. Global XMSCI Argentina ETF (#ETF- ARGT)
            2. Xtrackers Harvest CSI 300 China A-Shares (#ETF - ASHR)
            3. SPDR Dow Jones Industrial Average ETF (#ETF DIA)
            4. iShares MSCI EAFE Index ETF (#ETF-EFA)
            5. iShares MSCI Peru ETF (#ETF - EPU)
            6. iShares MSCI Malaysia ETF (#ETF - EWM)
            7. iShares MSCI Mexico ETF (#ETF-EWW)
            8. iShares MSCI South Korea ETF (#ETF-EWY)
            9. iShares MSCI Hong Kong ETF (#ETF-EWH)
            10. iShares MSCI Pacific ex-Japan ETF (#ETF-EPP), etc.

How to create a forex trading account with ATFX

Simple procedures to create your account and begin trading today with a trusted and reliable forex broker for your trading career.

1. Register your account: This requires you to visit the ATFX website and click on the registration option to fill in your name details, email, and phone number in the form provided. You will need to do this manually; otherwise, the system will reject it. Also, enter the captcha digits provided at the end before submitting the form. Once completed, a login link containing your password and client ID will be sent to you for easy access.
2. Verify your email and phone number: You will be required to confirm ownership of the email and phone numbers you have entered. Thus when you click on "verify email," a six-digit number will be sent to your email, requiring you to enter it in the menu provided. You will also have to repeat the same process to verify your phone number.
3. Submit your identification details: Here, you will need to fill in your name correctly, including your date of birth, and upload an identity card that matches the details you provided. The identification card to submit needs to be an official and government-recognized ID card. The team will cross-check your details. Once approved, you will be sent your live account details. You are to login into the MT4 or any other trading platform provided by ATFX to begin your live trading.
4. Fund your account to begin trading: The final step is to fund your account. You must log into your client portal and move to the "deposit fund" option. Here you will have to choose any convenient deposit method from the multiple options provided by ATFX, which includes: Neteller, Sticpay, Skrill, Perfect Money, Credit Card, Debit Card, and Cryptocurrency. The minimum deposit is $100.

After a successful deposit, the exact amount deposited will be added to your trading account. You can now login into the approved trading platforms, such as MT4 or MT5 if that's the one you have chosen, and begin your trading experience.

What are the advantages of registering and trading with ATFX?

• Regulation: ATFX is an award-winning ECN broker active in multiple regions worldwide. Regulated under major Financial Authorities such as ASIC, CYSEC, FCA, and JSC. This offers investors greater confidence in the security of their funds.
• Research and Analysis: Excellent research data and carries out daily market analysis for all traders. ATFX provides access to research and analytical tools such as Trading Central, Autochartist, and daily news articles for all registered clients.
• Webinars: Educating all registered clients through webinar sessions organised via Zoom and Google Meetings. ATFX links all traders together irrespective of location and culture. New traders are to meet with experts through these free webinars and learn more about the forex market. These webinars' dates and times are usually sent to all registered client emails.
• Quarterly Market Outlook: Experienced analysts prepare traders ahead of time on what to expect from the market quarterly through "ATFX Trader Magazine," published quarterly. Here, experts in the forex industry contribute valuable insights to guide long-term investors for each quarter of the year.
• Trading Platforms: An excellent trading platform for all traders, accessible on Android phones, iPhones, Tablets, Macs, Web, and desktops. One can easily access the ATFX platform using these devices on MT4 and MT5.
• Copy Trade Platform: ATFX enabled newbies and other engaged traders to copy the pros and make equal profits with them through their copy trade services. The atcopytrade platform shows the list of professional traders with their average monthly performance for beginners to choose and copy their trades.