Forex trading on Mobile Phone for Beginners!

There are many of us who want to do forex trading but they don't have a laptop or desktop computer but does that mean they can't do forex? Of course if they have a smart phone then they can easily do forex trading with their mobile phone. Moreover, many people do forex trading with laptops, but sometimes they need to analyze forex trading from their mobile phones. Then many people have trouble logging in. Read this part of the article carefully to get the solution to this problem.

To do forex trading through mobile, you need to download and install Meta trader 4 or MT4 apps from Google Play Store on your mobile phone.

Then login with the MT4 account details received in your e-mail from the broker. Logging into your account on mobile is a little different. So many people have trouble logging in. But you can definitely log in if you follow the rules shown below.

Open Settings after logging into the software. After opening the settings, you can see the manage account immediately after clicking on the top menu on the left side. After clicking there, a new page will appear. From there you will select Login to add existing account. Then search by typing the server that was emailed to you. Once you find that server, click on it and login with user ID and password.

How does Forex trading work?

What are the types of forex accounts?

To do forex trading you must have a forex account. Forex trading is not possible without a Forex account. Generally there are three types of accounts opened depending on the forex account lot size. For example, micro forex account, mini forex account and standard forex account.

1. Micro Forex Account

We know micro means small. Micro forex account means small forex account. This type of account cannot trade more than 1000 dollars per lot. You cannot trade with more dollars even if you want to.

2. What is a mini forex account?

Mini forex account limit is slightly higher than micro forex account. A mini forex account is a medium-sized forex account. This account can trade up to $10,000 per lot. That means you can trade up to $10,000 per lot.

3. Standard Forex Trading

A standard forex account is called a normal forex account. This account is usually used to trade large amounts of money. This type of account can trade up to $100,000.

4. Ask

The lowest price at which a trader is willing to buy the currency is called Ask. D0 Y0U KN0W THAT "Ask" price is usually more higher than the "Bid" pricee.

5. Bid

Bid is the price at which a marketer is willing to sell the currency he is holding. If a buyer asks to buy a currency, a seller makes a bid to sell the currency he is holding. The bid price moves up and down in line with the market price.

6. Bear market

Bear market is the time when the price of all the currencies in the market goes down, then the market is called a bear market. A bear market usually refers to a market downturn and a financial crisis in the market.

7. Bull market

When the prices of all currencies in the forex market increase, then that market is called a bull market. A bull market indicates an improvement in economic conditions around the world.

8. Leverage

Traders do not always have the same amount of money in the forex market. Many times you have to trade with money loan. Trading with a loan from a broker house in the forex market is called leverage. If the amount of leverage is high it affects the market.

9. The lot

All currency transactions in the forex market are done in lot form. In simple words, when a certain amount of money is traded, that amount of money is called a lot. The bigger the lot during trading, the bigger the amount of profit or loss in that trade. The three types of forex trading accounts that we have learned above are mainly based on this lot.

10. Margin

Keeping money in a different account for use in currency trading is called margin. The money kept in margin helps to keep the broker houses financially viable. Moreover, margin plays a huge role in being able to meet the conditions and obligations of the trader.

Forex trading mobile is the last word

Friends, this was our post on how to do forex trading. I hope that by reading the entire post, you got to know what is Forex trading, how to do Forex trading, how to do Forex trading, is Forex trading halal or haram. Also discussed is whether Forex trading is legal in Bangladesh or not. Hope you have been able to understand things well.

If you want you can share this information with your well-wishers in our today's post how to do forex trading. They can benefit from the information we provide as well as you. If you are interested in knowing about Forex trading, you can tell us in the comments. That's it for today.