iFOREX Web Trading Platform
Trading is an industry that is both beneficial and risky. It is beneficial in such a way that it offers and easy way to earn money. But it can also be risky because it can also make you lose a lot of money if you have no idea how it really works. In most cases, it would really be a good idea to know more about trading and what you can gain on it. If you want to try trading online, one of the most recommended means is the iFOREX web trading platform.
iFOREX is an online based trading platform that allows traders to start trading with just a minimum amount of $100 mini account deposit. If you want to trade big, you can opt for the VIP account that requires a minimum deposit of $2500.
Since it was founded by FOREX dealers and bankers in 1996, iFOREX has become one of the most respected and the largest companies in the trading industry. This only shows of how reliable and trustworthy this platform is. One of the good things about trading with iFOREX is that you have a choice when it comes to trading on different financial products like CFDs, commodity spot and foreign exchange.
Basic FOREX Trading
In basic FOREX trading, you will be spending a base currency or the currency that you are going to get rid of to purchase another currency known as the quote currency. It is basically selling one currency before purchasing another. The exchange will let you know how much you need to spend for a quote to buy base. FOREX trading also has long and short positions. A long position is all about purchasing bade and selling quote (for instance from USD to British Pounds). Short position equates to buying quote and selling base (British Pounds to USD). Before you start with FOREX trading you need to provide a bid price first. It is the price that you want to sell your quote on the market. The ask price is the price that the broker will sell the base in exchange for the quote. A spread is the amount of difference between bid and ask prices.
Tradable Platforms from iFOREX
There are three tradable platforms being offered by iFOREX and each one has been customized to meet the trader’s trading needs and experiences. The first platform is one that is designed to be downloaded for Windows (for professional traders) and the second one is the online based platform. The third platform is the innovative mobile trading platform that is accessible from your smartphone. Each iFOREX web trading platform can accommodate the one user name and password, meaning that there is no need to create one account for each platform.
The good thing about these platforms is that they are easy to use and really less complicated than other trading platforms. They offer innovative trading functionality, as well as live and data history regarding open positions and account balance. Simply put, any of these platform will be great to use as you wouldn’t miss a trading chance and you can always know how much more money you have.