1. Open an account with OctaFX
With an OctaFX account, you can enter the Forex exchange market and start trading. Once you have registered, you will receive an email with login details, trading account certificate and all necessary instructions in your personal area. You need to login to your personal area to manage your funds, receive bonuses and participate in our promotions. Trading account certificates are used to access the trading platform itself.
2. A deposit Deposit
Log in to your personal area to deposit without any commission. On OctaFX you can start trading with a minimum of $ 5. The minimum deposit may vary depending on your region and payment method.
Risk Management basics According to risk management, the more funds you have, the lower your own risk.
3. Web-based platform Sign in to a web-based platform
The web-based platform requires no installation and allows you to trade from any device at any time. Alternatively, you can download a desktop version or OctaFX trading app for your Android device. You can compare the platforms and choose the best one . You can compare with the platforms and choose the best.
4. Start trading
Open an order
Basically, you open the buy order if you expect the price to go up and open the sell order if you expect the price to go down. This means that the amount you bought at a lower price now can be resold later at a higher price and you can make a profit from the difference in price.
Leverage Leverage reduces marginal requirements, the amount needed to maintain a certain position and allows you to open your order in a larger amount than your balance otherwise allows. It is important to note that the higher the amount of your order, the more profit or loss you will make for each pip.
Suppose you have a trading account with 500 USD and a 1: 500 leverage is applied. You decide to open a position for 1 lot (100,000 units) in EUR / USD, when the price is at 1.13415. The margin required for this position is 226.83USD, about half of your fund. Each pip movement is then priced at 10 USD. Therefore, for you to lose almost all the money in your account the price just needs to go down to 1.13145. If you open a position for 0.5 lots, your price will be ড 5 for each pip. In that case, if the price drops to 1.13145, your loss will be 135 USD.
This should be considered when making a trading decision and assessing the potential risk of adverse price fluctuations.
Predict price movements
As a beginner, you can simply look for the general side of the price on the chart and open the buy order when it goes up or sell the order when it goes down. It may not give you a guaranteed profit every time, but it is a good start to develop your strategy.
If you have no experience, major news releases It is best to avoid trading when publishing big news, as the market tends to be highly volatile. Two more advanced methods of price forecasting are technical analysis and fundamental analysis . Early risk management techniques Risk management strategies can be helpful in reducing losses.
Make a profit
There are many strategies that allow you to make a profit from currency fluctuations, for example, scalping, martingle, hedging, news trading and much more. Read our article to get a detailed description of the most common strategies and choose the best one for you.
Close an order
The profit of your order fluctuates, depending on the current market price until the moment you close it. If you think you have made enough profit, open the Trade tab on your platform, look for the open position, click on it to open a context menu, and select Close Order.
There are some concepts and conditions that are necessary to get acquainted with. How to Trade Forex We have covered them in the article How to trade Forex. You can also visit our Education section . This will help you expand your knowledge of the market in general and our services in particular. If you think of practicing with a virtual fund before going into real trading, you can open an OctaFX demo account