- How to open FortFS’s Forex trading account?
- General Tips for Forex Beginners
How to open FortFS’s Forex trading account?
FortFS is an online Fore and CFD broker, with various bonus promotions and excellent trading conditions.
Have you chosen to trade Forex and CFDs with FortFS, and join other millions of online traders from all over the world?
Follow the steps below to open a Forex trading account with FortFS today.
- Go to FortFS Official Website.
- Click on “Open Account” and choose the account type you prefer.
- Complete account registration by providing personal information.
- Receive emails with login credentials for client portal and trading account.
- Log in to FortFS Official Website.
- Make a deposit and download FortFS’s MT4 or MT5 trading platform.
- Log in to FortFS MT4 or MT5 to start trading Forex and CFDs.
FortFS is also running “No Deposit Bonus Promotions” which you can get welcome bonus for free to start trading in a live trading account without making a deposit.
With FortFS’s No Deposit Bonus, you can start trading Forex and CFDs without risking your own funds.
General Tips for Forex Beginners
Are you new to the Forex market?
FortFS provides several opportunities for beginners of Forex to get started.
If you are new to online Forex trading, then you can open FortFS’s Demo Account to practice trading and get familiar with trading tools and markets in general.
You can also get access to FortFS’s educational materials for free once you signed up.
When you are ready to start trading with real account, you are recommended to receive FortFS’s No Deposit Bonus which you can receive for free, and it does not require you to make a deposit.
We, Hercules.Finance are also happy to help traders to get started and succeed in the Forex market.
Here are some tips and information in general that you should know if you are a beginner before getting started.
Currency price changes every second
A state in which the value of the USD has risen with respect to foreign currency is called “Strong Dollar”.
The opposite is called “Weak Dollar”.
“Strong Dollar” means that the value of USD rises and the value of foreign currencies decreases relatively.
If 1 USD for 1 EUR becomes 0.90 USD , you can buy EUR for less USD, which is a strong dollar.
Strong Dollar means you can buy American products for less.
This is also the case with FX, where you can buy foreign currencies for less USD.
Have you logged in to FortFS’s MT4 and MT5 trading platforms. On trading platforms, you can see the price movements of each Forex currency pair in real time.
Why Currency price changes?
So why does the USD gets stronger or weaker?
If there are many people who want a USD in the floating exchange rate system, the USD will rise due to the balance between supply and demand.
In terms of actual demand, trading companies need foreign currencies to import goods, and exporting companies receive foreign currencies and convert them into USD, so demand for USD increases.
In the US, which has a rich export industry such as automobiles and home appliances, it can be seen that sales decline when the USD
On the other hand, when the value of the USD is rising, so you can buy overseas products cheaper than when the USD is weak.
USD pairs or Cross pairs?
Central to the Forex market is the US dollar.
The exchange rate is decided by the transaction of this US dollar and other currencies such as the Euro, the British pound, and the Japanese yen.
Transactions between currencies other than the US dollar are called “cross transactions”.
The exchange rate in this case is calculated from the US dollar and the rate of each currency (cross rate).
In the world of currency trading, transactions with the US dollar are sometimes called “straight pairs”, while transactions that do not include the US dollar are sometimes called “cross pairs”.
For example, buying and selling Australian Dollars and British pounds other than US dollars but Euro is called “Cross Euro trading”.
With FortFS, you can trade both straight and cross currency pairs on both MT4 and MT5 trading platforms.
Determine the balance of supply and demand
Exchange rates are affected by economic indicators, policy rates, political conditions, etc., but these are not the direct factors of market movement.
Since the price of the exchange rate is formed by the supply and demand balance of the seller and the buyer based on the above judgment factors, the market price rises when there are many buyers, and the market price falls when there are many sellers.
Therefore, it is a big point to identify the trends of market participants.
As with stocks and daily necessities, the exchange rate rises if it is popular, and if it is not popular, the price falls, depending on the balance between supply and demand.
In terms of fundamental analysishttps://hercules.finance/how-to-predict-future-forex-market-price-with-inter-market-analysis-of-cross-pairs/ of the financial markets, you can stay updated by referring to FortFS’s economic calendars and daily reports on FortFS Official Website.
Forex market is tremendously big
The amount traded at the world’s exchange is about 5 trillion USD per day.
By comparison, looking at the cumulative trading value of Japanese stocks, it was only about 641,844.3 billion Japanese yen for 1 year in the 2018.
If you compare these two numbers, you can see how big the foreign exchange market is.
What happens then is that in the stock market, depending on the stock name, even a small amount of trading can cause the stock price to move significantly.
However, even if you buy or sell a large amount in the foreign exchange market, the effect will be small, so the movement of the rate will be slight to none.
Therefore, in FX, the basic trading style is to make a profit by riding on a large market trend, rather than buying and selling by looking at information such as company performance and sales of new products like stocks.
Of course you cannot still ignore the fact that the trend is formed by the balance between supply and demand.
On FortFS, you are provided with large amount of liquidity pool on both MT4 and MT5, which makes sure that your orders are executed smoothly with the minimal slippage.
Making profits with Swap Points
When you trade FX, you will exchange currencies of two different countries and at the same time you will exchange interest rates.
Since the interest rates of each country are different, it is necessary to adjust the difference, and the interest rate adjustment amount is called “swap point”.
You can receive swap points by selling low interest currency and buying high interest currency.
If you buy USDGBP for $10,000 and the interest rate difference is 2.15%, you will receive about 47 cents of swap points per day.
It is said to be one of the attractions of FX because it will be a large amount of money if you hold it for a long time.
Especially with FortFS, you can use leverage up to 1:1000 and with that, you can expect large amount of swap points with small amount of margin.
For traders with Muslim religion, FortFS also offers Islamic swap free account type.
Central Banks decides the Interest Rate
The central bank regulates the amount of national currency that flows through the city by raising and lowering interest rates.
When prices rise in a booming economy, interest rates rise to cool the economy, and when the economy worsens, interest rates fall to make it easier to borrow money, stimulating economic activity.
In Japan, the Bank of Japan has a zero interest rate policy, so there is almost no interest.
However, many other currencies have high interest rates.
Among them, “Turkish lira”, “South African rand” and “Mexican peso” are famous for their high interest rates.
Making good use of these swap points to make a profit is another way to make a profit with FX.
Please note that if you sell high interest currency and buy low interest currency, you will be charged swap points.
In addition, the amount of payment may decrease due to changes in the financial situation because of the interest rate situation of the target currency country, price trends and various other financial situations.