If you are wondering how to join forex trading because you are new to fx and have questions than read up. Joining a forex trading website is very easy however not all of them may be the best website for you when you are just starting out as a beginner. Why? Because many fees are associated with trading along with other factors. Also many of the fx trading websites have various account options and features that may be to cumbersome to understand when you are just starting out. As a beginner you want to keep things simple as well as want many features that will help you out with learning and understanding forex.
A great resource when discovering how to join forex trading is educational resources. So many of the forex trading sites have great features and options however they lack a way for you to educate yourself on forex trading. Educating yourself in forex trading is such an important part of making successful trades from the time you start trading and throughout your trading career. You should never stop learning. When a fx trade website has a free course or series of instructions dedicated to teaching you forex terms, how to trade, strategies and more than its a great website for beginners to partcipate in. This way they do not have to navigate to many different websites trying to learn how to trade.
The second important feature when joining a forex trade site is the fees. Certain websites will charge more in fees compared to others. Fees you should be on the lookout for is commissions and spreads.
Commissions - Anytime you make a trade the website earns a commission off the trade.
Spreads - The spread is the difference between they buy price and sell price of a currency pair. For example here is a screen shot of the current USD/EUR currency pair. The buy price is 1.8701 and sell price is 1.18582. When you subtract 1.18701 - 1.18582 it equals 2 pips. When you make a trade the broker will earn 2 pips. The pip price in USD will vary with each currency pair as well.
A trading broker may use variable spreads or fixed spreads.
What you want to lookout for when it comes to commisions and fees is the way the website uses these fees. Sometimes a website will charge both a commision and spread. Other times it will charge either a commission or spread. The amount of commission a website takes along with whether or not they charge a fixed or variable spread varies with each site as well.
Ideally you want to join a website with great educational resources and charges a small commission or spread. Watch out for the sites with higher commissions and compounds their fees. Learning how to join forex trading websites in the beginning will do wonders for your trading career.