If you’re willing to take a chance, it’s best to start with a theory:
Learn how the international currency market works.
Familiarize yourself with fundamental and technical analysis methods – they help you predict the movement of any variables using mathematical models.
Take a closer look at derivatives in particular (PFIs, also called derivatives). After all, deals with forex dealers are PFI contracts on currency or currency pairs.
Read the articles about the stock exchange and investments. Many books have been written on the subject of trading.
And before you conclude an agreement with a forex dealer, you should carefully study the documents. Special attention should be paid to the risks of trading on the Forex market, about which the dealer must warn you.
If you decide to trade on Empireoption, it is better to follow the following rules.
Rule #1: Do not take high leverage, especially if you are learning to trade forex.
In fact, the course usually does not jump much. During the day, the difference is usually a hundredth of a percent. So, if you only make transactions for the amount of your deposit, you won’t earn much.
That’s why they trade on forex with leverage. It means that a forex dealer can provide you with a virtual equivalent of credit. Real money will not come to your account, but the leverage will allow you to increase the amount of transaction several times. And you will be able to go beyond the money you have on your deposit. By law, the maximum leverage that a Forex dealer can give you is 1:50.