Trade Forex India
Forex, or FX as it is commonly known is one of the fastest growing online financial trading products in the world today, particular with those from India.
We have shortlisted the Top Forex Brokers to help Indians decide which Forex provider is most suitable for you!
Top Forex Brokers India
|Broker||Products||Min Deposit||Demo Account||Indian Traders||Review||Open Account|
|No Deposit Bonus||$10||Yes||Review||Visit Broker|
|Forex, CFDs, Binary Options||$250||Yes||Review||Visit Broker|
|Forex, CFDs, Binary Options||$50||Yes||Review||Visit Broker|
Your capital is at risk.
What is Forex Trading?
Forex trading, or currency trading as it’s also known is a way to trade on the price movements of one currency against that of another. When you trade forex you do not … read more
Why Trade Forex?
Forex trading is a way for investors to trade price movements in foreign exchange markets. Why traders should trade FX:
1. Clearness – No time decay, no commissions & no stamp duty.
2. Flexible – trade price movements, even from a few pip price movements.
3. Go long or short – trade rising or falling markets.
4. Access to leverage – deposits only ~1% of the trade value.
5. Trade in any market volatility – even in the flat of markets.
6. Low capital requirements – open an account from only $50, trade from just $5 (your funds at risk)
7. Access to global markets – trade 100’s of forex pairs from across the globe.
8. No commission – trading is without any commission.
Tips for New Traders
Trade Forex India understands the importance for new traders to familiarize themselves with the platform and the different markets’ characteristics and trends. Therefore, we have provided a list of essential trading rules for beginners from India:
All forex brokers catering to those from India on this site allow clients to trade in very small minimum trade sizes (from $10); take advantage of this while you are still unfamiliar with trading. You can increase your size gradually as you become more confident if you wish.
Remember why you are trading
Your primary objective should always be to get a return. You should also enjoy and have fun whilst doing it, but fun should never be your prime concern. Only place a trade after your have researched the market and have a clear direction. Otherwise, save you money for a better opportunity.
Only risk money you can afford
It is vital to have in mind how much you are actually risking at all times. It is equally vital to make sure you are comfortable with the amount involved. If not, the pressure you will feel from the fear of an unaffordable loss will undoubtedly lead to rash decisions.
Have realistic trading targets
Setting yourselves fixed target levels before you enter into a trade will help you overcome the influences of fear and greed. The targets could be things such as:
- Return goals (per day, month, year)
- Size to trade at any one time
- Entry/exit points
You should define two exit levels: an exit point should things go wrong and an exit point for taking your returns when things go well. Of course, as you become more confident, these rules can be changed to fit any new strategy you may wish to employ.
When you have lost on your last trade, it does not mean that you are more likely to win on your next trade. Doubling up should always be done with care: you should only increase your trade size by a substantial increment if you think there is a substantially greater chance of profiting more than before. Even then, you should take care to carefully manage your risk.
Use stop losses
A stop-loss will enforce your exit levels and will aid you to cut your losses. It can also assist you in taking the emotion out of trading and investing in the financial markets.
You cannot win on every trade, even the best traders in the world get it wrong. Managing a losing position and acting swiftly to cut your losses is a hugely important (and difficult) skill. Analyse your losing trades and learn from your mistakes.
Do your research
Have your own opinion about every trade so that when you are ready to execute you are confident that you are taking a valued and judged view. You need to fully understand how the trade works and that you aren’t thwarted by some small detail of which you are unaware of. Here are a few tips that can help you understand your trade:
- Read relevant market reports
- Look at financial websites such as www.forexcombined.com or www.bloomberg.com
- Look at the fundamentals and historical charts
- Investigate other factors that may affect the trade, economic indicators or announcements
Most of the brokers listed here offers free forex charting, forex news, forex demo accounts and forex research packages for Indians from Mumbai, Delhi, Bengaluru, Hyderbad, Chennai, Kolkata, Jaipur and more on their websites to help you spot trading opportunities.
Monitor positions closely
Checking how big your profits are when things are going well is easy, but it is just as important to monitor your losing positions to the same kind of scrutiny. When things are going badly you may have to act rapidly in order to prevent the situation getting worse.
You should never be afraid to ask a question of your broker, especially when you are new to trading. The easiest way to learn more about trading is to ask the professionals who know what they are doing!
Start trading today with a top rated Forex Broker!
Your capital is at risk.