Broker, Account, Money
Opening a FOREX account is as simple as filling out a form and providing the necessary ID.
The form will include a margin agreement that states that the broker can interfere with any trade it deems to be too risky.
This is to protect the interests of the broker – most trades, after all, are done using the broker's money. Once your account has been established, you can fund it and begin trading.
Many brokers have different types of accounts to suit the needs of individual investors. Mini accounts allow you to get involved in FOREX trading for as little as $250, while standard accounts may have a minimum deposit of $1000 to $2500 depending on the broker.
The amount of leverage – using borrowed money – varies with accounts. High leverage gives you more money to trade for a given investment. HOWEVER – beginner traders are advised get accustomed to FOREX by doing paper trades for a period of time.
Paper trades are practice transactions that don't involve real capital.
They allow you to see how the system works while learning how to use the various software tools that are at provided by most FOREX brokers.
Read more at our website at: www.forex-market-information.com