Forex, the Largest Market in the World

The FXCM Mini, or standard, account also helps familiarise you with the forex market, helping you to develop a trading routine and get an appreciation for the world’s largest and most liquid trading market. FXCM offers new traders special help in the form of a Mini account, which introduces traders to the forex market under real conditions. The Mini account also lets traders get acquainted with FXCM – in particular the speed, quality and reliability of its order execution system, and finally the stability of the award-winning trading platform.   

Tips for a successful start:  

Take time to work out a plan.

1. Select the best currency pair for you. Based on your risk parameters you can define which currency pairs best suit your trading style. Some currency pairs may be too volatile for you, while others may be too sluggish, so choose the currency pairs best suited to your strategy and the time you have available.
2. Define the length of your trades. Are you a day trader, a scalp trader, a swing trader, or a positions trader? How long do your trades tend to last: a few minutes, a few hours, an entire day, a few days, up to a week, or longer?
3. Before you start to trade, you should develop an exit plan. Determine how much you are willing to risk and set your yield requirements. Set appropriate stops and limits.
4. Follow important news and technical levels which could be important for your set trading time frame.