A Forex trading account, or Forex account, is used to hold and trade currencies. Generally, you open a Forex account, deposit money in the currency of your home country, and then buy and sell currency pairs.
Your goal, of course, is to make money on your trades. Unfortunately, most traders lose money. The average duration of a Forex trading account is only about four months.
This is not to say that Forex is a scam, as some have argued, but Forex scams abound.
Making money on highly leveraged foreign exchange is more difficult than it looks and requires at a minimum to develop expertise that some traders do not want to take the time to learn and acquire.
Ava Trade is a regulated broker in France and worldwide since 2006.
The accounts are segregated in the largest banks in the world.
Forex online Account
The requirements to open a Forex account have become simpler since the growth of Forex online trading.
Today, opening a Forex account is almost as simple as opening a bank account.
All trades pass and are managed by your Broker, who may be a Broker specialized in Forex or the same broker that you use for investments and trading on the stock market for example.
In parallel with your Forex trades, you will also be able to trade more than 100 stocks and 250 financial instruments like cryptocurrencies, and indices with Ava Trade with only one Forex account.
You will need to complete a brief questionnaire about your financial knowledge and your intentions in terms of trading.
You will also need to provide a login and the minimum deposit required by your Forex account institution. That’s all.
You are now free to trade. Incidentally, many Forex brokers will take your credit or debit card instead of money, so you really do not need to deposit money – it’s not a good idea.
If you do not have the money now, how will you pay for the losses later? Credit card debt bears interest rates.
2 types of Forex account exist at Avatrade
Instead of using your bank to buy currencies (or others) that normally charge high fees and commissions, as well as the exchange rate, you can trade Forex at your broker Avatrade, forex broker and CFD regulated since 2006.
To open a Forex Account and start safely, start by opening a demo account as explained below:
- Forex demo account
- Forex Real Account
Open a Free Forex Account Today.