Forex Trading Accounts

Forex trading is nowadays a home business opportunities. Anyone with an internet connexion can make money online trading the forex market. Well that's not completely true. You need an internet connexion, some dollars (few hundreds to start), and some trader skills.

So if you don't want to learn the forex basics and how to manage the risks, you shouldn't even think of trading currecies yourself. Of course you can practice. Almost all of the Forex brokers online will allow you to open a demo account, or practice account. You will get something like $10,000 or more and see how you are doing.

Demo accounts is the first account you should register if you're new to forex trading. It's risk-free. You're trading the real-time forex but the money is not real. You may practice for three or six monthes, maybe a year before trading a "live" account. Of course you can buy a book, teaching you some techniques. You should also look for forex tutorials on the internet. You will find really good informations, just use Google.

If you have enough money you can also invest open a forex managed account. This kind of account is managed by a professional trader. Lot of brokers now offer this feature. You don't need any particular skill since you don't trade yourself. The broker will take a percentage of your net profit. I have personnally noted that a 20% is generally taken by the broker. You may think that this percentage is high, but you are not taking any risk. You are not spending hours in front of the charts waiting for the biggest opportunity of the day.

Automated forex trading accounts. I was interested at a moment. I never really tried this kind of accounts. Well actually, this option can be offered in two ways. You download a software that analyses the market, then trades when it detects good opportunities. Again, you don't have anything to do, except setting it up with your own parameters. If you decide to try this, set the software to trade your practice account first.

The second way in automated forex trading accounts doesn't involve you to download a software. All you have to do is to transfer your funds to the broker. The broker then uses his own autotrading software. We can suppose that their software will trade with trading signals, signals sent by another software...

Trading signals are very valuable. If you decide to trade the forex, signals can really help you. Subscription for trading signals can be from $100 to $600 depending of the subscription lenght, and the broker or signals provider. Signals tell you he exact entry and exit points. You know which pair to trade, when to trade, and the estimated profit.

Signals are a great resource for every trader. May be you can see how much profit you make from them.

Forex trading is a real money making opportunity. But it's not a game. Risk management and emotions control are the main skills of a trader. If you decide to try forex trading, you must read and practice a lot. Don't invest what you can't afford to lose. If you or your family need money, don't risk it.

ForexBO.com gives more helpful informations about these different kind of forex trading accounts. You can also find a list of brokers who are offering the different options I told you about.

author:Thomas Leroy is an article writer and internet marketer. He writes articles about various topics, particularly about making money online and created several websites. You can find more forex resources and links on his Forex Trading Information website