You should look for a forex broker that has a minimum deposit initially low. No matter what the minimum amount you should start to negotiate, but if the broker request a high value only for you to open an account, so pay attention because this broker is not a broker with good provenances and reliability. The ideal initial deposit requirements should always be around $ 300 to $ 500 on average.

Regulation

The forex market is an unregulated market, ie there is no central exchange. However, even the forex brokers are regulated. For example, in the US must be registered as a Futures Commission Merchant (FCM), Commodity Futures Trading Commission (CFTC) and members of the National Futures Association (NFA).

You can check the status of the broker with the NFA or the NFA website. If you do not find the broker that you are interested in the NFA list, look for another broker in the list and make sure that the broker has a good track record.

Software

Professional trading platform is a necessary and easy to use because you do not want to fight the resources of the trading platform when trying to make a deal, right? forex brokers reputable reputation will always offer a demo account (demo) for you to start trading. The demo software works the same way as live trading platform. This will give you the chance to test their skills outside of the trading platform, and without the pressure of using real money.

Step Two: Find a Forex Strategy

The question is: Are you an investor or a daytrader (day client)?

If you are an investor, your goals can be stability in the long term rather than the short term profits. This means you must have a firm risk management plan and greater fundamental understanding of what is happening to the currency you are investing. fundamental trading strategies are the most appropriate for this type of trading.

If you are a daytrader, you can find a way to take advantage of the daily exchange rate fluctuations, regardless of the long-term fundamentals. As daytrader a technical analysis-based system would probably be the most appropriate system.

Psychology of trading

No matter what is your strategy for trading, it is the bottom line you need to feel comfortable. It is always important to spend time testing your strategy on a demo account. If you are using a strategy based on another client, then take the time to analyze this trading strategy. If the strategy you want to use is a technical system that you developed for your own use, then try to test your strategy with the MetaTrader program.

Finding a forex strategy is a personal decision

Each client uses its own criteria when it comes to business execution. Results may vary between two operators that use the same system. Do not rush, take the time needed to decide on the trading methods and the development of a system. The forex market will not disappear, it will still be there when you're ready to practice a live trading. When you better understand the nuances of your forex trading system, then you will have better the long-term chances of success.

Step Three: Become a client Forex

Anyone with a little money and patience can become a forex account. Despite the ease of going into business, there are some steps that you should follow. The hasty entry into forex can cause failure quickly.