Everyone has a doubt that how to start forex trading in India in the safest way. Because there are lots of scams running in Forex market. Am here to guide the beginners who wants to start forex trading without loosing money through scam and make maximum profits with Minimum loss. First we understand what is Forex Trading and where you will start the Forex trading.
What is Forex Trading?
Forex market is largest Market in the world, With highest traded volume where you can trade in currency pairs. Buy a currency and sell a currency, make profits on currency exchange values. The main benefits of this forex market is that you can trade for 24 hours from Monday to Friday. And you can do it from India too. Also i won't suggest you to trade in every currency, trade only only currency pair with good volume.
Choose Forex broker to trade in India
While choosing the Forex trading platform, you must be very careful. Because there a lots of fake trading platform which you will trade virtually and not on real market. But don't worry i will help you too choose the best platform which i personally use for forex trading. You can use Exness Trading platform for Forex trading from India.
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You can start Trading with low as 10 dollars. So small traders also can trade in forex. Many of the trading platform money deposit will fail, But here i have a tip for you to add money without any delay and start trading instantly.
Add Money in to your Trading account
Adding money into the trading account is the another challenge faced by our traders in India. Many of the funds added will be failed. But i suggest you can add money with your debit card or credit card without any additional charges. And money will credited instantly. And also you can withdraw money with your card and instantly credited your bank account.
You can also add money with the Net Banking or online bank but it may take few minutes to reflect amount in your trading account. Only conversation charges are applicable when you add money in your account.
You May also Like to read our Previous Post" How to Start Trading In India for Beginners without Losing Money"
Choose between Standard or Pro Account
This depends on type of trader you are. The main difference between the standard and pro account is that the spread they are provided. Spread means it is the difference between the ask price and Bid price. So it will 0.20 for standard and 0.10 for the pro account.
I recommend to choose the Pro Account is your capital is more than 500 dollar. If your capital is 10 dollars or low, then you can start with the standard account.
Currency Pair need to add in to your watchlist
You don' need to trade in all the currency pair which don't have much volume. Trade only on few currency pairs with Lowest spread and volume. Given below are some the watchlist you can consider for the Forex trading.
These are the few suggestions with good volume for the trading. Trade in these to get the maximum results.
Time frame for Chart analysis in Forex Trading
Even if it is for intraday or short term, i would suggest Four hour time frame for analysis and 15 minutes time frame for the confirmation. Mark the levels in 4 hour time frame first and then convert to 15 minutes time frame to get the better results. You can try different time frame, but i found its more accurate in these mentioned Timeframe. Below are the some of the Charts which gives breakout in 4 hour chart.
So in the above mentioned chart you can see the trend line breakout and give a good fall in 4 hour chart.
Conclusion
So, we have seen the Best way to start Trading in Forex market and the best Trading Platform to trade from India. Please follow above methods to make profits from forex trading for beginners. Also please note that intraday trading is always risky, but still you can make money if you follow some rules in it.
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