What else is important to know about Forex day trading?
Is Forex day trading safe?
Forex trading, like most forms of investment, carries inherent risk. The markets fluctuate a great deal and, of course, no one can say for certain what will happen in the future. However, you can mitigate risk by ensuring you stick to a budget and take the time to learn the fundamentals of trading. It’s also important to ensure your broker has client protections in place.
What currencies can I trade?
The number of currencies you can trade will typically vary depending on your broker or exchange. Whilst here at CAPEX we have over 55 CFDs on currency pairs listed, you may find other platforms have fewer options. The most popular currencies to trade are EUR/USD, USD/JPY and USD/GBP.
Is day trading just for Forex?
Whilst the inherent volatility of the Forex market makes it the perfect environment for day traders, it’s worth bearing in mind that you can apply the technique to other information. For example, you might want to take a look at our crypto guide.
What do I need to open a Forex trading account?
Entering the Forex market has never been easier – effectively all you need is an internet enabled device that can access an online trading platform. When opening an account, you may however be required to provide a copy of your ID and proof of address, so you’ll need to make sure your documents are currently valid.
Conclusion – Day trade Forex CFDs at CAPEX
Forex day trading is growing in popularity as more and more people realise they can easily access the markets via their laptop, tablet or mobile. The reason Forex in particular is so well suited to day trading is because the markets are highly volatile – which means there is plenty of opportunity to make profits if you can accurately predict which way prices will move.
We are one of the leading providers of Forex trading and our platform is suitable for both trading novices and seasoned pros. If you are curious about Forex and would like to find out more, feel free to spend some time at the CAPEX Academy to learn the basics, or jump right into the markets, risk-free, with our demo account.