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How To Make Money With Forex Online
Basically you have to look for a forex broker that offers access to the forex market. Many online brokers offer software, some also web access. Once you have found a broker, it is advisable to open a demo account first. So an account without real money, but only with play money. This is the best way to practice, because beginners and novices in particular lose their money at the beginning.
As soon as you have started the broker’s trading platform, you can usually start making money right away. The main currency pairs are shown and can be bought or sold with a click of the mouse. Suppose you want to buy EUR/USD and the exchange rate rises. If you want to sell EUR/USD, you want the exchange rate to fall. The words “buy” and “sell” can be a bit hard to understand because you don’t buy or sell until you make a trade.
Basically, you open a trade with the option buy/sell and let this trade “run”, if you decide after a certain time to close the trade, it is executed, ie the loss or profit is realized. This process is called forex trading or simply currency trading.