How to Trade in Forex

Before knowing the steps of trading in Forex,  we will understand the Forex trading. Forex trading is trading of foreign currencies. This trading is done in international foreign exchange market. In Forex trading, both buyers and sellers deal for getting the profit in this trading. In this trading, buyer buys other country's currency by paying its payment in his own currency at the current foreign exchange rate. So, more correct, you will estimate the future foreign exchange rate, more you can get profit in this trading. It is 24 hours trading market. UK and US are in the top of trading in this market.

Forex in India Means Buy or Sell Foreign Currency with Your Indian Currency

From a small businessman to large scale banks and MNCs deal in Forex marketing. Some invest it just for speculation and other for hedging. Today, there are lots of online portal which are helpful to deal in this market just with some clicks. As per Wikipedia, "Per day dealing in this market is $ 150 billion"

Following are the steps to trade in Forex :

1st Step : Calculate the Total Investment in Forex Trading

Before Forex trading, one of important step which you have to take, is to calculate the total investment in Forex trading. Forex is big market where you can buy or sell any currency. Your country's currency will be called quote currency. You can start Forex by buying other country's currency. That currency will be base currency for you. For example, you can buy $ 1821.33 with your Rs. 1,00,000. For buying dollar, your given price will be bid price. Now, this is your investment. You can get return on this by selling this dollar in any other currency. For example, you can sell same $1821.33 dollar in you will get only 1391.92 Euro with $1821.33. For example, after two days, if 1 euro will equal to 2$, you will get huge profit because today is one euro is equal to $ 1.31. So, more money you will invest in this business, there are more chances to get more profit. If you are starting this trading, you must start from low amount.

2nd Step : Find Forex Broker 

If you want to buy or sell shares, you need DEMAT Account. Your dealer will buy and sell on your behalf for getting commission from you. Like this, for buying or selling currency, you need to find the Forex broker. You have to open your online Forex Account. In India, FEMA regulate the Forex trading in India. FEDAI is also self regulatory body in India. If you have find a broker online. Try to search his physical address. If the website is not providing his official address, never create your account with this broker because after breach of your agreement to whom you will make responsible.

Outside India, following are oversight bodies include: 

 United States: National Futures Association (NFA) and Commodity Futures Trading Commission (CFTC)

  United Kingdom: Financial Services Authority (FSA)

 Australia: Australian Securities and Investment Commission (ASIC)

 Switzerland: Swiss Federal Banking Commission (SFBC)

 Germany: Bundesanstalt für Finanzdienstleistungsaufsicht (BaFIN)

  France: Autorité des Marchés Financiers (AMF)

Before opening, Forex trading, you have to follow some formalities, after this, your personal trading account will be started.

3rd Step : Start to Do Forex Business 

Like a perfect businessman, you have to start the Forex trading. For buying or selling decision, you have to analyze the forex market.You have to study, which currency is appreciating and which currency is depreciating. You have to go to past and find whole trend. You also have to study of the economy of country. If any country's economy is growing at faster rate, you should buy that country's currency. In future, it will give more profit.

Important : { This written lecture is the part of CS Accounting Notes}






access account accountant Accounting accounting definitions accounting ebook Accounting education accounting procedure accounting process outsourcing Accounting Software advance advertising africa Amalgamation amendments announcements Annuity assets audit auditing Australia B.Com. balance sheet bank Bank reconciliation banking basic accounting BBA benefits best bill black money blog bloggers book keeping bookkeeping Branch Accounting - full tutorial budget Budget variance business businessman CA calculator canada capital capital budgeting career cash cash book cash flow statement Chiense children china class coaching coins college commerce commerce students company computer computer accounting conference Contact vinod kumar Control Your Spending corporate accounting cost cost accounting cost center cost centre CPA credit credit card cs currency data Debit and credit debit cards debt debtor degree depletion depreciation Diwali Messages documents dollar domain Downloads Dubai e-accounting earning education Education Loans email employee EPF ERP euromoney examination excel excise duty expenses facebook factor of loan fans feature fifo FII fiji finacle finance Finance Journal Entries Financial financial accounting fire insurance flickr flow forensic forex formula france fraud free fun function fund GAAP GDP gdr germany gold goodwill goodwill accounting google google apps Google Adsense google apps google base google buzz google calendar Google docs google finance google fusion tables google talk govt. GST guide health Hindi Hindi Language history holding company How to treat FBT in Tally 9 HRA ICAI ICAWI ICICI Bank IFRS income income statement Income Tax India indian railway Indonesia inflation inflation accounting infographics information inspiration insurance insurance accounting Intangible interest international Internet Introduction of Tally 9 inventory investment investment in Shares invoice IT Japan Job costing journal entries Journal Entries eBook Help Kalculate keyboard kindle kuwait laptop law LBT learning lease lecture ledger leducation Leverage Analysis liabilities lifo linkedin loan logical point loss loss of profit M.Com. m.phil malaysia management accounting manual accounting manufacturing account market marketing mastercard material MBA MCA media migration mobile money ms word ms. excel multi currency in tally 9 Multicurrency Accounting mutual fund national security new and sacrifice ratio new york times new zealand news NGO nonprofit-accounting North Georgia Mountains NPV NSE odbc office oman online application online accounting Online Accounting Course otcei pakistan parents Partnership pay pal pdf Personal Finance pie chart pie chart of income pnb podcast ppf presentation price privacy policy prize money prof. vinod kumar profit profit and loss account project management provision purchase puzzles quickbooks Quote quotes quotes of svtuition rating agency ratio analysis RBI readers real estate rectification of errors remote control reports reserves responsibility accounting retirement revenue Revenue reserves review risk rupees salary sale saudi arabia saving sbi scholarship school SEBI security service tax share share trading Shares shri lanka singapore sms social accounting society solution South Africa stock stock exchange structure student students study subsidiary company svtuition swiss bank tally tally 9 Tally 7.2 Tally 9 Tally.ERP 9 tanzania tax Tax Accounting TDS teacher teaching technology test testimonial testimonials thailand tips trading trading on equity transaction trend trial balance truthfulness tuition twitter UAE UGC - NET Commerce UK United Arab Emirates university usa valuation VAT Video Voucher and vouching Wealth wikipedia working capital youtube
Accounting Education: How to Trade in Forex
How to Trade in Forex
Accounting Education
Not found any lecture VIEW ALL Continue reading Reply Cancel reply Delete By Home PAGES Lectures View All RECOMMENDED FOR YOU Category ARCHIVE SEARCH ALL Lectures Not found any lecture match with your request, please help to write it and send it to our email at for making this website free accounting and finance encyclopedia. Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock