How Much Money Do The Top Forex Traders Make ?

In online forex trading, the traders who are employed by companies can vary dramatically depending on the trader’s specific job title. Indeed, the average trader salary is $98,652 per year plus$25,000 in commissions for a US forex trader.

HOW MUCH DOES FOREX TRADER MAKE A DAY?

In terms of success, profit can differ vastly in the forex world. A forex trader makes 10.000$ a day. The traders and portfolio managers within the fund are usually paid as a percentage of their returns typically 10-20%.

IS TRADING FOREX PROFITABLE?

Forex trading can be profitable and very important to consider timeframes. It is usually much easier when you have a large amount of cash to leverage, and you have a system in place to manage risk. On average, 11-25% of Best trading brokers became professionals and achieved a regular income.

HERE ARE THE SOME IMPORTANT TIPS THAT IS HELPFUL TO EARN MONEY IN ONLINE FOREX TRADING

• UNDERSTAND THE MARKET

• LEARN THE BASIC OF FOREX TRADING

• FIND A SUITABLE FOREX BROKER

• PRACTICE THROUGH DEMO-ACCOUNT OPTION

• START WITH SMAL INVESTMENT

1. UNDERSATND THE MARKETS: - The first and foremost important thing to learn how to earn money is better understanding and enough knowledge of the forex market. This trading technique is done by online networking. Where traders can gain profit or lose money. The trade is ensured by purchasing and selling one currency to another. It is also known as currency pairs. There is an international code that specifies the setup of currency pairs where one can trade. For example, a quote of EUR\USD 1.25 means that one Euro is worth $1.25.There are three key types of forex markets:-Spot, forward and futures.

2. LEARN THE BASIC OF FOREX TRADING: - Learning the basics of the forex market is important for ranges and acquiring knowledge of the operative terminology with the trades chosen currencies. There are some following operative terms are essential to earn money online:-

• CURRENCY PAIRS

• PIP [POINT OF PRICE]

• BASE CURRENCY AND QUOTE CURRENCY

1. CURRENCY PAIRS: - A currency pair is a price quote of the exchange rate for two different currencies traded in FX markets. The Euro and US dollar: - EUR\USD, the US dollar and Japanese yen:-EUR\USD, The US dollar and Japanese yen:-USD\JPY the British pound sterling and US dollar: - GBP\USD all come under the currency.

2. PIP [POINT OF PRICE]:- A pip measures the amount of change in the exchange rate for a currency pair, and it is calculated using the last decimal point. For example:-EUR\USD, it is 0.0001 and for USD\JPY, it is 0.01

3. BASE CURRENCY A QUOTE CURRENCY:-A currency pair is the quotation of two different currencies, with the value of one currency being quoted against the other. The first listed currency of a currency pair is called the base currency and the second currency is called the quote currency.

3. FIND A SUITABLE FOREX BROKER:-There are three most imperative factors to keep in mind when choosing an online broker for forex trading. First, check if the broker is regulated and licensed. The safety of your deposit is always on the top priority. After that, compare the account offerings, trading platforms, tools and investments research that is provided by each broker. A good regulated forex broker should have no problem offering you a trial period or demo account at no risk to you. A forex broker is a financial service that lets you buy and sell currencies.

4. PRACTICE THROUGH DEMO-ACCOUNT OPTION: - A practice account, also referred to as a demo account is just like a regular forex trading account in every way except for one. Demo accounts are those where prospective investors can practice trading and learn systems before trading with real money. It is the best way to understand the skills of running a forex business and earning money by digital platform. Slowly, traders make the best forex broker. Intersengly, a demo trading account that allows you to practice trading with fake money. If you want to withdraw money from your account, you simpler contact the broker and request a withdrawal.

5. START WITH SMALL INVESTMENTS: - A Forex mini account is a foreign [FX] account which allows beginner traders to enter the currency market using small size [mini lot] positions and trading quantities. There is no need to invest a minimum amount of deposit. Minimum investment needed to begin day trading on the forex market and amounts in your trading account. There are three main types of trading accounts-standard, mini and managed and each has its own advantages and disadvantages. Which type of account is right for you depends on your tolerance for risk, the size for your initial investment, and the amount of time you have to trade on a daily basis?

CONCLUSION:- It is the largest and most liquid market in the world. This offers many money skills opportunities to their best forex traders for trading the Xtreamforex business. Forex brokers offer beginner traders a welcome in money management skills. It offers a good selection of features.