Forex Free Trading Tutorial

Learn forex tactics from home.

The forex market is an exchange where currencies from around the world are traded. According to Forbes Investopedia, the forex market is the most liquid and largest currency market in the world. Nearly $1.9 trillion is traded per day. Currency trading can be risky, and beginning investors should practice their strategies before they take them to the market. Investopedia.com offers a free forex simulator called FXtrader. FXtrader is an in-depth simulator that allows investors to learn how the forex market works, the different currency trades and pre-test forex strategies.

Instructions

1. Enter http://www.investopedia.com/university/forexmarket/ into your Internet search browser. This will bring up a great forex tutorial. Researching how the forex market operates will allow you to gain an understanding of the trading process. The forex tutorial will outline common terms, benefits and risks.

2. Sign up for FXtrader simulator on Investopedia. Simply create an account by filling out the short questionnaire. Information needed: your name, address, date of birth, email, forex trading style and experience. Investopedia offers different investment newsletters and offers. These are completely optional. Click on the newsletters or offers that interest you, or simply continue to the end of registration. You are now registered on FXtrader. Go through the site to get familiar with everything. Feel free to download the free forex ebook located at the top of the page for further references.

3. Reap the benefits from the FXtrader. The FXtrader gives you the opportunity to trade the euro, U.S. dollar, Canadian dollar, Japanese yen, British pound, Swiss franc and Australian dollar. Furthermore, this trading tutorial teaches you how to trade commodities of gold and silver. Use stop and limit orders to help reduce loss or increase profits as if you were actually trading currency. Challenge yourself in the FXtrader leverage challenge. This challenge simulates trading forex on margin (borrowed money). Trading on margin or leverage is extremely risky, and you can learn how to safely.

Tips & Warnings

• Forex trading is risky and should only be done by those who have an understanding with the trading process.

References

• Forbes Investopedia: Forex Market
• Forbes Investopedia: FXtrader