Questions and Answers

There is a list of the most common questions and answers concerning the currency market.

 

1. What Forex is?

Forex (FX) comes from the English words ‘foreign exchange’ and means the market of the currency exchange. It used to be available for corporations and institutions, today it is available for every individual investor. Thanks to the low initial deposit requirements every Internet user can try himself at Forex. It is an alternative, more and more popular way of increase your budget.

 

2. How does earning on Forex look like?

On the Forex market you trade with pair of currency. By picking two currency (eg. EUR/USD, PLN/EUR, JPY/USD) we predict the increase or decrease of the rate in the future. Trader (investor) earns on the difference on the courses of buying and selling. He can earn on both increase and decrease of the rate.

 

3. Does trading at Forex pay off?

The possible profits are unlimited. Most of the brokers promote the financial leverages, which allows you to invest a few times more money than you actually have. Although most of the clients loose and that is why it is good to increase your knowledge and skills to have a bigger chance of winning.

 

4. Is trading at Forex risky?

Yes. It is a very fluent market on which it is equally easy to earn money or loose the whole budget you have. When deciding to place the initial deposit be aware of the risk and never invest all of the savings you have.

 

5. When can the Forex market be used?

Thanks to the global reach of Forex and the different time zones in the world, we have the possibility of trading currency for 24 hours a day from Monday morning to Friday evening.

 

6. How long can a position stay open?

It depends on the trader, because some brokers allow to keep the positions for long months. Most of traders keeps their positions for a maximum of few days or even hours.

 

7. How to choose the best Forex broker?

The decision about choosing the right platform is crucial. From all of the angles: preferences of the style of the trade, costs of keeping the transaction and the safety of the deals taken. This is the reason we have created the ranking of Forex brokers. We did the best we could so that the ranking  had only reliable and secure companies present, which are regulated by the national financial institutions. Thanks to our ranking the Forex trade can find out who gained the most popularity amongst traders.

 

8. Is trading at each broker safe?

No. Unfortunately there is a possibility of choosing the wrong company. Some of them are open even though they have no licence or support of the national financial institutions. We did our best to have in our ranking only the companies, which have the regulations of the countries they are working at. In order to be 100% sure about to choice you make it is good to check it yourself whether the company is reliable enough to have our money and if it is regulated by any financial institutions, check the regulations, etc.

 

9. Is it worth to open demo account?

In our opinion it is. It is a safe way to check, without any risk, whether you are good at trading currency, test the platform, the way the broker works and trying different trade strategies. You need to remember that there is a big psychological difference between trading virtual money and your own real deposit.