Frequently Asked Questions

Forex trading entails the simultaneous buying and selling of currencies, aiming to profit from exchange rate fluctuations. It operates 24/5 and is the largest financial market globally.

To start forex trading, visit our website, create an account, verify your identity, deposit funds, select your currency pair, and begin trading.

While basic financial market knowledge is useful, it is not required. Banxso provides resources to help you understand the basics of forex trading.

A minimal initial investment is sufficient to begin forex trading, but it’s important to be aware of the associated risks.

In forex trading, a ‘pip’ is the smallest price movement a currency pair can make, typically to the fourth decimal place.

A ‘lot’ is a standard unit of measurement for a quantity of currency, usually 100,000 units of the base currency.

Leverage in forex trading allows you to control a larger position than your initial deposit would normally permit, increasing both potential profits and losses.

Risk management can be achieved by using stop-loss and take-profit orders, diversifying your portfolio, and investing only what you can afford to lose.

Technical analysis focuses on past price movements to predict future prices, while fundamental analysis examines economic indicators and political events.

Forex markets are open for trading 24 hours a day, five days a week.

A ‘margin call’ occurs when a broker requests additional funds to maintain an open position due to insufficient margin.

A ‘spread’ is the difference between the buying and selling prices of a currency pair.

With the right skills and strategies, forex trading can be pursued as a full-time career.