Real Money Forex Account

June 29, 2013 5:58 pm

real_moneyThere are two main types of accounts that Forex brokers offer – demo accounts and real money accounts. Demo accounts are mostly used to try out different strategies and tactics or to get familiar with the trading platform that your broker uses. On the other hand, real money accounts allow you really participate in the Forex market. When you open a real money account, you’ll have to deposit money in it in order to be able to start making trades.

Real money Forex accounts are pretty similar, but it is always a good idea to read your broker’s terms and conditions in order to see if there is something you should know about your account. This is usually necessary if you want to open an account with a Forex broker that is fairly new and isn’t very reputable. Many traders were scammed in the past, so we advise you to try and stick with reputable brokers who have proven their reliability and trustworthiness over the years.

If you have never traded on the Forex market before it is a good idea to start with a demo account until you get familiar with the market, the trading platform your broker uses, and some of the most important things that you need to know about Forex trading. Of course, you can directly start trading with real money, but in most cases you’ll end up losing your initial investment.

Best Real Money Forex Brokers

In order to invest money in your real money Forex account, you’ll need to check the payment methods which your broker accepts. Most brokers accept Liberty Reserve, MoneyBookers, Amex, VISA, MasterCard, etc. It is important to check the deposit/withdrawal method your broker supports, because you may not be able to withdraw your money via specific methods.

Another thing that you must keep in mind about real money Forex accounts is that there is a thing called leverage. In short, you can use the leverage offered by your broker to lend funds and make larger deals. However, you must remember that although using leverage may double you winnings, it will also double your losses. This is why you must be very careful when using leverage.

Traders often see this as a great opportunity to make a lot of money, but they end up losing their entire investment in just 1-2 trades. Don’t rush using a real money Forex account, because you will easily get discouraged if you lose your money. Start with a demo account and start investing funds into your real money Forex account when you feel that you are ready to make money from Forex trading.

Where to Trade

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