Forex market is wonderful venture where you can earn unlimited riches. The forex market even though being volatile can prove to be a good source of income generation, but only if you do it in the right manner. There are many who want to start forex trading but cannot do so due to a scarcity of money. Here lies a good question- how to start trading forex with no money? This may seem like a preposterous question at first but believe or not, it can be done without any investments.
The article will talk about it elaborately. So follow closely.
However, one thing which should be clear is that the money which you yield will come from brokers and not from the market. Let’s not waste any more time and get straight into how to start trading forex with no money.
Demo trading accounts:
In the present day, the best answer to the question how to start trading forex with no money is get set up a demo account. Demo accounts are something which most of the trusted forex brokers such as MetaTrader, LiteForex, etc. provide and hence select a reliable one and start practicing.
You do not have to make any investment; just the normal sign-up procedure is what you have to do.
The details which you have to spare are as follows:
- Your full name
- Country of residence
- Email address
- Contact number
- The account type
Though demo account registration details vary from company to company, these are generally the information which you have to spare.
Bonuses and Contests:
There are some brokers who offer bonuses and contests. The competition which is held by these brokers is banally simple and requires you just to get ahead of your competition and enhance your income. Doing that several times and that too in the least time will allow you to earn a bonus/reward amount for your real account.
Demo accounts make way for a healthy competition and also allow you to cope up with the forex environment thereby making you more adept to when you do get started with the real thing.
Trading with leverage ratio which brokers offer on various demo accounts:
Sticking to a demo account, another easy but effective mode which you can refer to regarding how to start trading forex with no money is making use of leverage ratio which brokers offer on various account types.
Various account types have various leverage ratio ranging from 1:5 to 1:500. Depending on the kind of account you decide to choose for your forex trading, you will get the pre-set leverage ratio.
For new traders like you who is interested in forex trading but do not have the ability to make any investment, you will find this to be quite convenient.
Hence those asking – ‘when I start real forex trading’ without any money, these are a couple of ways to follow.
That is all there is in this segment regarding how to start trading forex with no money, here’s wishing you all the best for your future traders and your forex career.