Many traders, especially beginners, start forex trading using demo accounts for two reasons:
First: Learning the techniques of trading and the secrets of Forex, and entering the world of the stock market, but without financial risk to train and learn well.
Second: knowing the best brokerage companies in which the user can open real accounts.
After that it is the time to open a real Forex trading account where the user has gained enough trading experience and he is able to trade real money and earn a profit.
Real Account Types:
There are two types of real accounts in the world of Forex, depending on the amount that will be deposited in it:
- Normal real account, and trading in it is with unlimited amounts, the trader deposits money as he wants without any limits.
- Mini real account, and trading in it is with amount of $ 100 to $ 500 only, and there are other accounts which are smaller and the trader can trade with only one dollar.
How to choose the best real account?
You do not have to choose the Forex company which you have opened a demo account in it. Yes, it may be easier to move from the demo account to the real account directly, but you can choose any other Forex company and open a real account, but you should think carefully because you are going to do real trading transactions with real money and you may be exposed to heavy losses at any time, so it is preferable to start with a mini account where you deposit a very small capital, and you should know well that trading this time is real and you are trading in your own money, you may be exposed to any loss so all your steps should be cautious and appropriate.
It is also important to know the offers provided by Forex companies and compare between them to decide which one is best for you to open a real account, and compare between them and the company which you opened the demo account in it.
You should also be sure of several other advantages, the most important one is that the company offers its customers technical support services, technical analysis and all the tools that the trader needs, as well as you should choose company which is flexible and easy.
You have to choose the real account that has the best safty standards and contracts with the best banks, and the company which is recognized by official entities and under the umbrella of the law.
So what are the steps to open a real account?
- Choose the type of account you want to register and similar to the demo account you have learned in it.
- Choose your trading platform.
- Choose the currency you want to trade with.
- Write your private data as required.
- Type the password.
- Read the terms and read them well, then approve and accept them.
How to take the right steps to earn profit from Forex?
- After your registration in a real forex trading account, you should know that it is now your business and you have to pay attention to it so you can earn a profit from it.
- Working in this field requires to learn continuously and to see the experiences of professionals in this field.
- Balance between work and daily life.
Finally, you have to deal with this field seriously as any other business.