MAJOR THINGS YOU NEED TO KNOW

MAJOR THINGS YOU NEED TO KNOW 

BEFORE BECOMING A FOREX TRADER

  

FOREX IN INDIA: THINGS YOU NEED TO KNOW BEFORE BECOMING A FOREX TRADER

It has become very usual to hear that “Forex in India has become very popular, but it is risky to trade in this market, as you’ll have many losses.” Never mind! Losses are not the Forex fault, but losses are natural for those traders, who do not follow simple rules in Forex that are the keys to the success in the Foreign Exchange market.

The worry may be related to the simple evidence: Foreign Exchange in India is quite new. People are not familiar with simple rules that should be followed to. The more you follow the rules, the less the losses will be!

 Define your risk tolerance carefully

From the very beginning accept that Forex trading is a risky business and be ready for some failures. Remember that the loss is something you can gain experience from. Besides, after suffering losses, you begin to understand what your faults are and make attempts to improve your trading strategy.

Choose the brokerage company carefully

The result highly depends on the brokerage company with which you trade.  You act in accordance with the terms and conditions, set by it. So, be maximally careful to make a right choice. There might be people with conceptions such as “Foreign exchange in India is developing, so the Forex brokerage company should be Indian.” In reality, this is a misleading opinion, as there are many trustful Fx brokerage companies. Remember that your success partially depends on the brokerage company.

Focus on a single currency pair

The world of currency trading is deep and complicated. In order not to get confused in the variety of currencies, you should better focus on a single currency pair, the one which is more familiar to you. Beginning to trade with the currency of your nation can be a great idea. IFC Markets does not have any currency pair with rupee: some people may think that this is a negative point, but in reality it is a positive one, because it is better to start with one of the widely traded currency pairs, e.g. EUR/USD.

Begin with small sums. Increase the size of your account through profit, not by greater deposits

           It is advisable to start trading with small sums, using low leverages. Try to increase your account size by profits, not by enlarging your deposit.

Pick the account type and leverage according to your knowledge

If you have a good understanding of trading in general, standard account type is for you, but if you are a newcomer in this world, it’s better to choose the beginner account. As for leverage ratio, in any case it is safer to use low leverage, following the principle “The lower the risk is, the greater the chances are”.

Foreign Exchange in India is a fast developing sphere, which involves more and more people nowadays. The only thing you need to do is to take the right steps in order to reach the goal you have set out from the beginning.



CHOOSING A BROKERAGE COMPANY

CHOOSING A BROKERAGE COMPANY

Forex trading is very attractive but at the same time it can be risky, if you start trading without any help. Forex brokerage companies are the ones that serve this aim, i.e. providing the customers with information and performing all the procedures, necessary to start trading. So, choosing a good brokerage company from the very beginning will, of course, enlarge your chances to earn a greater amount of money. A brokerage company can be easily chosen via a simple internet search. While choosing it you should take into consideration some points. There are some companies which don’t publish their E-mail address, telephone number or don’t have any live support. I would advise you to avoid such companies. Pick up the one which will contain proper information about its trading terms and conditions, as well as publish all means of contact. From my personal experience I can say that IFC markets is one of the best. In its web site you are able to find anything you need, from simple definition of Forex to the detailed description of opening a demo or real account. Besides, if you misunderstand anything, you can contact them easily and be sure that you will get support as soon as possible.

IFC markets has a separate section for Foreign Exchange in India. Indian traders can be sure that all their problems will be instantly solved by just contacting IFC markets:  REGIONAL MARKETING TEAM (INDIA) IFC Markets Corp. Tel: +44 20 7193 1740 Toll-Free: 000 800 100 7390 Email: india@ifcmarkets.com Skype: ifcm_india.

FIRST STEPS

FOREX IN INDIA: FIRST STEPS TO BECOME A TRADER 

Like any other sphere in this life, Forex trading also needs to be closely studied and observed. If you are a newcomer in the world of Forex, opening a real account and trading will be quite risky for you, which may result losses. I have already passed through that complicated way. On my way I have managed to investigate this deep world and putting together all aspects, now I am going to provide you with some valuable practical steps, aiming to lead you to a success. In connection with the rapid expansion of Forex India, I want to be beneficial for my compatriots. So, please, try to maximally follow these instructions and make your way a little bit easier.

Your familiarization with Forex trading is not a difficult issue to depict. You are searching for something in Internet and the word “Forex” appears somewhere on the bottom or in the corner of the screen. Or you are walking in the street and your vision catches the same word. A curiosity arises inside you and the wish to figure out what it is emerges immediately. So, the first thing I would advise you to do for becoming a participant of Forex in India is to search for some useful articles in Internet, regarding Forex trading and to study them, trying to understand all key words. In case of coming across some difficulties in understanding, I can offer you a very effective method. IFC markets provides its customers with live support with the help of which all the questions immediately become clear. Moreover, it has a special section for Forex in India. I assure you that you will be served with maximum care and benevolence.

The following stage should include looking through different brokerage companies, getting familiarized with all the terms and conditions. Searching for Forex India brokerage companies will be a wrong approach. Keep in mind that Forex trading is international and likewise brokers serve everyone worldwide.

After you are sure that you are more or less competent in the main aspects of Forex, then it’s high time for you to open a demo account (demonstration account) with one of the brokerage companies, an account that allows you to trade with unreal money. It will give you an opportunity to practice and to understand the major principle of how to trade in Forex.

After all these steps are taken, you are welcome to the unpredictable world of Forex. Start trading with real money and become a successful trader.        

CAN I TRADE FOREX IN INDIA ?

Legality of Forex in India 

Whether Forex in India is legal or not is a controversial issue. Some people say that it is quite legal and anyone can trade in Forex, others say that it is illegal. Actually The Reserve Bank declared some restrictions for Foreign Exchange in India. However, these regulations do not hinder all Indians to trade without any obstacle.

There are numerous brokerage companies in the world which support participants of Foreign Exchange in India, giving them valuable information about trading conditions. As a matter of fact online companies do not have any connection to RBI restrictions as they are providing service not only for residents of India but worldwide.

  From my personal experience I can say that IFC Markets is one of the best. Any Indian trader can get any kind of support, regarding to different aspects of Forex through this brokerage company.

Speaking honestly judging from my past experience, their live support is really professional one, and ready to help any client, without differentiating how much your deposit is; $1000, $1 or you’re just fresher without any investment trying to understand what is Forex, including all nuances that concern Forex in India.

GLOBAL FOREX: EASY TO EARN

                                   GLOBAL FOREX:  EASY TO EARN

Global Forex (Foreign Exchange) is the international currency exchange market. Nowadays, it is the most common and popular way of earning huge amount of money within short period of time. The principle is straightforward: you buy the currency of a country when it falls and you sell the currency when it becomes higher.

This way of earning money, by all means, has its advantages over others: first it gives a possibility to trade 24 hours a day, and besides it is available everywhere: you only need computer or mobile phone with internet. What makes Global Forex attractive is the leverage given to traders. This is something that will allow you to start trading with much more money than you have in fact. How much money you will earn depends only on you. But remember that choosing a good broker is one of the main decisions you should make from the very beginning.

The main Forex players are Central and commercial banks, institutional investments, big companies, brokers and individuals. The involvement of these institutions and the opportunity to trade from any country in the world makes Forex global.

Good luck to you!

HELLO INDIA

I am Manoj Kumar. I have graduated from Delhi State University and continued my education in Oxford, where I have received my Master’s degree. I have been captured by Forex since I was 18 years old. I have spent most of my time updating my knowledge in all aspects of Foreign Exchange in India. The idea of opening this blog is to introduce what is Forex  in general, how to start trading, what are the advantages of earning money in this sphere over others and what to do to minimize losses. I would like to share my previous experience and knowledge with you in Forex India. Welcome to the magnificent and unpredictable world of Forex.