How To Start Forex Trading Philippines

How to start forex trading philippines

Welcome to the wonderful world of forex trading.

Pick a Philippino Forex Broker

This is the place where all the money of the world goes. The largest market in the world. Larger than all the stock market of the world combined.

What is Forex Trading

Forex Trading is a kind of short term investing in currency or foreign exchange. Hence the name “forex” and trading as oppose to investing, where the goal of buying a currency is to sell it at a higher price in the future to make a profit.

The goal of successful forex trading is to make a profit by buying and selling currencies of other countries e.g.

US dollar, Japanese YEN, British POUND and others.

How to start forex trading philippines

You can learn more about forex trading on my post about “Why forex trading is the best business”.

How much money can you earn in Forex Trading?

The market is worth 4 Trillion Dollars.

If you become a good trader, even a small slice of that pie can make you a millionaire.

A Guide to Trading Forex in the Philippines

The challenge of course is knowing how to trade and how to get started.

How to get started in Forex Trading

1. You need a computer with internet connection. If you are reading this, then you are all set.

2.1 A dollar account at your nearest bank.

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You need this because you’ll be transferring money to other banks internationally. And the easiest way to do this is to open a dollar account. You can get more info on how to do this in my article.

2.2 No dollar account?

How to start forex trading philippines

Have no fear. You can try social trading and use Paypal to deposit and withdraw your earnings. Though I would recommend the first option more.

3.

New to Forex Trading? Start Here!

Forex brokers. Forex trading used to be for “the rich” only.

How to start forex trading philippines

But now, since the advent of the internet, there has been a lot of companies catering to normal people like us, called retail traders. We have list of brokers in this page.

How to start forex trading philippines

Brokers allows you to trade. They are the one who processes your request to buy or sell currencies.

Forex Trading in the Philippines - My 1st Week of Trading

Its important to know your brokers well.

4. Your trading capital. You’ll need money to trade.

How much money do I need to start forex trading?

Contrary to popular belief, you don’t need a lot of money trading forex.

Why did e-trade stop trading forex

You can get started in forex trading in any amount you like. I started forex trading with $100 and built it up from there. Some brokers have minimum deposit so you might want to look around, ranging from $100 to $10,000. We have a list of brokers here if you need any recommendations.

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I personally use these brokers.

But I don’t have money yet. Or am afraid to trade.

That’s ok. Maybe forex trading isn’t for you.

How to start forex trading philippines

And there’s nothing wrong with that. But before you quit just yet, why don’t you try demo trading to test the water. Its free and you’ll not lose money while doing it.

The idea of demo trading is to open a demo account with a broker and deposit it with “play money”.

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You can trade online in real time but not at risk of losing real money. Its a very good way to learn how to trade. You may open a demo account from our list of brokers.

That’s pretty much it.

Forex Philippines – We’re showing everyday people successful Forex Trading Philippines

Its easy to get started in forex trading. I hope this article helps you in getting started in this wonderful, intellectually challenging endeavor. If you like this article, please consider liking us on facebook or sharing this with your friend.

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