Forex, also known as foreign exchange or FX trading, is the conversion of one currency into another. It is one of the most actively traded markets in the world, with an average daily trading volume of $3 trillion. You make money by speculating which currency appreciates versus another currency. It involves you buying or selling different units of various currencies and making a profit from the change in their values from time-to-time. 

While trading portfolios of many brokers begin with $100, a beginner can start the journey with as low as $5 and learn the basics of Forex in the process by trading on synthetic indices.

Synthetic indices are unique indices that mimic real-world market movement but with a twist — they are not affected by real-world events. These indices are based on a cryptographically secure random number generator that's audited by an independent third party to ensure that they cannot be manipulated or tampered.

Forex trading is high-risk speculation and 60-90% of traders will lose money, depending on their Forex broker. Most traders lose money because they haven’t created (or don’t follow) a risk-management strategy that keeps losses to a minimum.

Forex is traded by what’s known as a lot, or a standardized unit of currency. It is ADVISABLE that no matter your equity, always trade with the least lot size to avoid losing your trading capital.

Also, stay away from crypto. Many Forex brokers will also offer cryptocurrency CFDs, such as BTC/USD (Bitcoin/US Dollar). Leverage will usually be very low, as crypto are usually volatile. But price changes in crypto pairs can be huge and unpredictable, and the risk of “wiping out” your trading account is much higher than with normal currency pairs.

As we move towards a new year, Forex can be your source of passive income.

Blue Ace Technologies sells cheap MTN Data. Buy 3gb at #900 and join our trading classes for FREE. In addition to forex fundamentals, you will be given free indicators with 90% accuracy and risk management training. Contact us on WhatsApp +2349157759886 to place your order and get started.

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I'll reach out, like how long will it take for someone to become an expert?

With consistency, 12 months