AximTrade does not provide services for the residents of certain countries, such as the Canada, Ethiopia, European Union, Gibraltar, Iran, Israel, New Zealand, North Korea, Palestine, Philippines, Syria, United Kingdom, United States of America, Yemen and Singapore.
Choose your Aximtrade account for Forex trading today
Finding the right broker is essential in making good trades and remain profitable.
Choose the broker who has exceptional trading conditions.
Start your investment by choosing the account type here first.
|Base Currency||USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR||USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR||USD, EUR, GBP, JPY, CHF, AUD, HUF, PLN, RUB, SGD, ZAR||USD, EUR, GBP, JPY, CHF, AUD, NZD, CAD|
|Contract size||100,000 = lot||1,000 = lot||100,000 = lot||100,000 = lot|
|Negative Balance Protection (NBP)||Supported||Supported||Supported||Supported|
|Minimum Spread||1.0 pip||1.0 pip||0.0 pips||3.0 pips|
|Trading Commission||None||None||$3 per lot||None|
|Maximum open/pending orders per client||200 Positions||200 Positions||200 Positions||50 Positions|
|Minimum Trading Lot||0.01 lots||0.01 lots||0.01 lots||0.01 lots|
|Maximum Trading Lot||50 lots||150 lots||50 lots||25 lots|
|Required Minimum Deposit||$1||$1||$50||$1|
|Margin Call %||60%||60%||60%||60%|
|Stop Out %||30%||30%||30%||0%|
|Account Opening Pages||Open AximTrade Standard Account||Open AximTrade Cent Account||Open AximTrade ECN Account||Open AximTrade Infinite Account|
Check out the account types and specifications and decide what’s best for you.
For beginners, you can simply create a demo account to familiarise yourself with trading.
Who trades forex?
While you are one trader in the Forex market, there are countless people and institutions participating in the market today.
The participants of the Forex market include:
- Government and central banks
- Intervenes in the market to strengthen/weaken the currency.
- Banks and other financial institutions
- People who need foreign currency for small transactions do business with local banks.
- Japanese companies that also operate in the United States are required to return dollar revenues in Japanese currency upon repatriation.
- Buying assets abroad. A European investor wants to buy shares in an Australian company. He needs to buy Australian currency before buying stock.
- Speculation is the practice of engaging in risky financial transactions in an attempt to profit from short-term fluctuations in the market value of tradable financial instruments.
- Visit another country.
Factors Affecting Exchange Rates
When trading Forex, the first thing you need to do is market analysis.
A market analysis is a study of the economic and political forces that determine exchange rates.
An exchange rate is the price of one currency in relation to another.
Like any other price, it is determined by supply and demand.
By predicting how these forces will change and develop over the medium term, we want to predict how exchange rates will behave.
Here are the factors affecting exchange rates.
Fast-growing countries are often good places to invest, because:
- More opportunities for expansion
- Increased income creates demand
- Offshore companies are trying to set up business in these countries.
- Foreign investors want to buy shares in companies operating in these countries.
These factors (usually) increase the demand for the currency and drive its valuation.
Trade Balance = Exports – Imports
It is the amount a country receives for the export of goods and services less what it pays for the import of goods and services.
Broadly speaking, countries with sustained trade surpluses tend to have strong currencies.
Conversely, countries with persistent trade deficits tend to have weak currencies.
Why? If Japan exports more goods to the US, it may increase demand for the Japanese yen rather than the US exports to Japan, which could strengthen the yen against the dollar (USD/JPY decline).
Countries with natural resources obtain foreign exchange through exports.
If the price of the natural resources they export rises, the value of their exports may rise and the value of the currency may rise.
Canadian dollars and oil, Australian dollars and iron ore, New Zealand dollars and dairy products.
Monetary and Fiscal Policy
In addition to all of the aforementioned factors, changes in a country’s monetary and fiscal policy can have a significant impact on the economy and consequently the exchange rate.
- Monetary policy
- Action taken by the country’s monetary authority (usually the central bank)
- Fiscal policy
- Actions taken by national governments to affect the economy (usually to increase unemployment and stimulate economic growth).
Perform technical analysis
Technical analysis is an analysis technique that predicts future trends and prices through statistical analysis based on historical price and volume data of assets or traded products.
The three basic assumptions of technical analysis reflect all factors in the market, prices move with trends, and history repeats itself.
Analyze Market Charts
Charts help explain supply and demand by mapping time on the X axis and price on the Y axis.
Trade using technical analysis charts. There are mainly 3 types of charts available on MetaTrader platforms.
- Line chart
- The simplest chart is a line chart. Line charts do not provide any information about the scope of the trade for the selected time interval, but consist only of a single line connecting consecutive closing prices.
- Bar chart
- With the bar charts, you can trade using technical analysis’ bullish and bearish charts.
- Candlestick chart
- The area between the opening and closing prices is called the real object and the price execution above and below the real object is called the shadow. Candlestick charts are actually superior to bar charts, so traders prefer them.
The duration, represented by a candlestick or bar, can vary from a minute to an hour, a day, a week, or a month.
Analysis of more than one time period (a minimum of three is recommended) allows the trader or analyst to gain insight into the multidimensional nature of the market.
Even if a trader chooses a shorter period, this happens as a compromise.
This is because in longer periods there is less “noise” and therefore is considered more reliable.
Basic concept of trend
A trend is the direction of the market.
Market movements are characterized by a series of zigzags.
These zigzags produce a series of consecutive highs and lows.
It is the directions of these highs and lows that make up the market trend.
The concept of a trend is very important because many traders rely on the existence of a trend to predict price movement.
A trend line is used to identify a directional movement in price to indicate a trend.
You can use the slope of the trend to determine the rate of change in price.
Their usefulness is based on the principle that once a trend is established, it usually lasts for some time.
An uptrend is a series of consecutive high highs and a series of high lows.
An uptrend line is constructed by connecting two or more high lows. The line extends into the future to serve as a support for the evolution of trends.
This indicates bullish sentiment that the price is likely to rise.
Traders try to buy a decline near the trend line.
Decide your Trading Strategy
As mentioned so far, it is very important to have education, information and training before deciding to enter the trading world.
Otherwise, it’s like gambling.
What we haven’t discussed so far is that a very important aspect of trading is managing your emotions and developing a proper trading psychology.
- Stay on top of market trends. Know your basic story. Are they both pointing in the same direction? Do your basic and technical views confirm each other?
- Why did you reject contradictory information?
- Mark support and resistance levels so that reasonable entry and exit points can be identified.
- Indicate the branch where you are willing to trade.
- When a stop loss occurs, calculate the size of the trade in a manner consistent with the answer to the previous question.
- “How much money do you want to lose today?”
- As soon as the price reaches the entry-level, hit the trade button (or place a pending order at that level).
- Place your Stop Loss beyond the level where your views have been proven wrong.
- Set reasonable profit-taking goals.
Even with the perfect plan, emotional trading can be disastrous. why?
- You doubt yourself and hesitate to enter a trade when the price reaches your entry level.
- If one trade is profitable, it can close long before the price reaches the preset take-profit target. You want to minimize the level of anxiety induced by mind asking questions like, “What if it turned the other way now?” If you take a small amount of profit, the trade is considered successful.
- On the other hand, when things go bad and you lose money, you tend to keep your lost position open in the hope that eventually things will be in your favor again. If you don’t admit you’re wrong, your losses may not last.
- There are trading principles that contrast with human nature. For example, one of the main principles of trading is “follow the trend”. It may sound easy, but people find it very difficult to adhere to that rule. If the price is in a downtrend, the goods become cheaper, which drives many people to buy. The trend continues and they continue to buy in the hope that the price is too cheap to drop further. They believe or hope that somehow they can get the bottom on their own. So they end up with a big exposure in the opposite direction of the trend.
- You brag when you make money and at some point you think you’ve dominated the market, but when things go bad and you lose a lot of money you blame the market and anyone but you. If you do, you will not be able to identify your own mistakes and weaknesses, and consequently, you will not be able to improve.
Are you ready to start trading Forex?
Why choose Aximtrade?
Aximtrade is an award-winning global leader in online trading with MT4 trading platforms and over 100 tradable instruments in Forex, Spot Metals, Futures, Stocks, Spot Indices, Commodities and Cryptocurrencies.
Aximtrade serves retail and institutional clients in more than 180 countries in Europe, Asia, the Middle East, Africa and Latin America, while providing support in more than 30 languages.
Aximtrade customers benefit from 24/7 service from one of the largest and most outstanding global customer service teams in the world.
The Aximtrade customer-centric model offers unparalleled trading capabilities through a platform combined with the broadest product suite at the best price and execution.
Daily market news feeds and insightful research give clients access to the best information and data to make informed trading decisions.
Are you ready to trade?
We recommend opening a demo trading account before diving into the volatile world of trading.
A key tool in trading education, the demo trading account serves as a valuable resource for clients who want to practice and develop effective trading skills.
The demo trading account simulates a real trading environment.
- You can trade virtual currencies in real time without risk.
- Aximtrade helps traders achieve their maximum trading potential.
By familiarizing yourself with the trading software and practicing your trading strategies, you will gain the experience and confidence that you will later discover valuable value in the live trading arena.
Follow the trend with Aximtrade
To make effective trading decisions, you need to stay up to date on the latest market developments.
Aximtrade’s highly skilled research team provides comprehensive market updates to investors around the world.
The team also develops a variety of video resources that can help you increase your return on investment.
Aximtrade Daily Commentary, powered by the professional strategy team, provide clients with technical and fundamental market analysis to help identify potentially profitable trading and investment opportunities.
Aximtrade’s strategy team presents macroeconomic perspectives and technical research findings and analyzes how these will affect foreign exchange and other financial markets.