Posted by forex at 4:19 AM
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1. Go to the FX options website of your choice and open a new account. Many trading sites offer two options for opening an account: live account and practice, or trial, account. Choose a practice account.
2. Complete the form under practice account. The account likely will require e-mail verification. Go to your e-mail and verify that the account is legitimate. Return to your FX options website.
3. Log in with your details from the e-mail you received. View the account information. Locate currency pairs, and click on a currency pair you'd like to buy and sell.
4. Go to positions and orders. This allows you to observe the profit and loss on your trade. Observe the currency's value rise and fall. You can set stop-loss limits if losses make you uncomfortable. For some sites, look for a 'Stop-Loss' button and enter a pip, or percentage in point, value for an automatic sale. Practice buying and selling with this account until you get the hang of the process. Learning timing and market patterns from this account is important before risking your actual money.
5. Log out and return to the main URL. Click to open an account, and choose live account. Click to begin the sign-up process.
6. Complete the live account sign-up process and fund the account. Start trading live.