1. demo account

trading online

Last but not least, a "best" Forex broker should also provide its customers with a free demo account. With the demo account, traders have the opportunity to test the trading offer and the functions of the trading platform without risk. In the meantime, such a test account is standard with almost all brokers. However, there are differences in the account models depending on the broker. Some providers make their test account available independently of the opening of a real money account with the corresponding minimum deposit.

Furthermore, the demo accounts also differ in terms of their duration of use. While many brokers now provide their demo accounts for an unlimited period, some providers only make them available to users for a period of 30 days. It is particularly important that traders can trade under realistic market conditions. This is the only way to effectively try out new strategies.

2. live account

The live account is the actual account through which the trader can process real orders after you download Exness. There are significant differences between the individual Forex brokers. Many providers offer various account models, which differ in terms of service offerings, trading costs or minimum deposit. When looking for a broker, it is important to make sure that the broker provides all important information when opening an account. For beginners, the so-called basic account is usually the best option, which can be found in many cases. Depending on the provider, the minimum deposit is usually between 100 and 250 euros.

currency exchange

Minimum deposit and minimum stake

The minimum deposit and the minimum stake are two important terms in Forex trading. The minimum deposit is the minimum amount that traders must deposit into their trading account when opening an account. Forex brokers who have geared their offer to beginners often offer the opening of an account from a low deposit of 100 euros. However, brokers may require deposits of 1,000 euros or more. The minimum stake also plays an important role. This indicates the trading volume from which the trader can place orders. Here, too, the following applies for beginners: the lower the minimum stake, the better it is for the prospective trader.

What does volatility mean?

Volatility is a term that comes up again and again in Forex trading. It stands for the strength of the fluctuations of a trading instrument within a certain time. An average value serves as the basis. The further the values deviate from this base value, the more volatile a market is. Due to the large trading volume of around 5 trillion US dollars daily, the foreign exchange market is considered very volatile. Significant economic or political news can cause extreme price fluctuations within a few seconds. Thus, on the one hand, high volatility provides attractive opportunities for returns, but on the other hand, it also entails a significantly higher risk.