Is it possible to do forex as part-time business?
Traders ask about:
Here is another example to explain why the broker gives you leverage. In order to buy 10, Euros you need to pay 11, US Dollars.
Let's say a trader buys 10, Euros through his forex broker at the above mentioned rate, and two days later sells them at 1. This is why the broker is willing to allow the trader to buy 10, Euros while depositing only dollars. In the worst case scenario when the trade goes bad and the loss gets to dollars the broker will automatically close the trade and limit the loss to the total deposit. To make a long story short, leverage is given by the brokers in order to help traders make bigger winnings at the risk of higher losses in shorter times.
That means, trading more. The more you trade, the better it is for the broker, because of the so called 'spread', which is the difference between the buy and sell price of each currency pair.
The best part is that forex spread are very low because competition among forex brokers pushed them to lower the spreads to be more attractive to clients. Unfortunately there are no reliable forex brokers in Kenya right now, so the only option Kenyan traders have to profit from the forex market is to use an offshore broker a broker from a foreign country. Luckily for us, there are many international brokers that accept traders from Kenya and where you can easily deposit and withdraw money.
You can open an account online in less than five minutes and deposit money with your debit card or other online payment methods such as Skrill, Neteller, Webmoney, Cash U, Paysafecard and many more.
Of course, you can also deposit with bank transfers if you want to make larger deposits or withdrawals. After checking the largest forex brokers in the world I have selected the ones that are most friendly with Kenyans and have the best trading conditions as well as the most accessible deposit and withdrawal methods. All of them offer high leverage.
In addition, functional cookies, for example, are used to allow us to remember your preferences and identify you as a user, ensure your information is secure and operate more reliably and efficiently. For example, cookies save you the trouble of typing in your username every time you access our trading platform, and recall your preferences, such as which language you wish to see when you log in.
This website uses Google Analytics, a web analytics service provided by Google, Inc. Google Analytics uses analytical cookies placed on your computer, to help the website analyze a user's use of the website.
The information generated by the cookie about your use of the website including your IP address may be transmitted to and stored by Google on their servers. Google may use this information to evaluate your use of the website, to compile reports on website activity and to provide other services related to website activity and internet usage. Google may also transfer this information to third parties, where required to do so by law, or where such third parties process the information on behalf of Google.
Google will not associate your IP address with any other data held. By using this website, you give your consent to Google to process data about you in the manner and for the purposes set out above. We are using cookies to give you the best experience on our website. Read more or change your cookie settings. Your capital is at risk. Leveraged products may not be suitable for everyone.
Please consider our Risk Disclosure. Open an Account Here. Advantages of Forex Trading with XM. Leverage up to Tight spreads and NO re-quotes. Trade the most liquid market in the world. Trade with NO hidden charges. About Forex Trading Forex trading, or currency trading, or FX trading, as it can be also abbreviated, are all terms that describe the currency exchange market as we know it today, which in simple language refers to the global, decentralized marketplace where individuals, companies and financial institutions exchange currencies for one another at floating rates.
What is Forex Trading? The ultimate aim can vary and can be any of the below but not limited to the below: Exchanging currency A e. USD to currency B e. EUR for travelling purposes; 2. EUR for trading purposes; 3. EUR for speculative purposes, with the goal to make a profit.
How Does Forex Trading Work? What Influences Prices in Forex Trading? Differentials in inflation 2. Differentials in interest rates 3. Current account deficits 4. Terms of trade 6. Political and economic stability In order to best comprehend the above 6 factors, you will have to keep in mind that currencies are traded against one another. What is Forex Trading Software? Who are Forex Trading Market Participants?
Forex trading market participants can fall in any of the following categories: Travellers or overseas consumers who exchange money to travel overseas or purchase goods from overseas. Businesses that purchase raw materials or goods from overseas and need to exchange their local currency to the currency of the country of the seller.
Investors or speculators who exchange currencies, which either require a foreign currency, to perform trading in equities or other asset classes from overseas or either are trading currencies with the aim of making a profit from market changes. Banking institutions that exchange money to service their clients or to lend money to overseas clients. Governments or central banks that either buy or sell currencies and try to adjust financial imbalances, or adjust economic conditions.
These are saved temporarily as login information and expire once the browser is closed.