FOREX GATE: Important Forex Knowledge you need to (Margin/Leverage)

Like any new skill you learn, you should learn it's basics to better practice this skill and to make a good path on it.

There are many important things you should know about Forex trading. may be you know it so no problem at all as you can review this knowledge again.

How to Make Money with Forex?

Major Currencies

The major currencies are the most eight traded currencies"the most important currencies"and of course the most widely used in the world.these currencies are:

Minor Currencies

Minor currencies are any other exist currencies "Not Major" so we can say that all currencies are minor except the eight major we mentioned previously.

Margin

When opening a new margin with any trade broker"trading platform" you should have amount of money"beginning deposit" and this amount varies from a platform or a broker to another, it could be 50$ or 100$ but for sure 50$ is the minimum possible deposit in most of the platforms.

The maximum deposit is unlimited as you can trade up to 100,000 or even millions.

What is a Pip and a Pipette in Forex?

When you open a new trade an amount of your money goes a side as initial beginning deposit for this margin.

This amount is based on:

The currency pair you choose to trade on.
It's current price.
Number of units to trade.

For example, if you were to open one mini lot so instead of having to provide 10,000$ you would only need 50$(10,000$*0.5%=50$) with a (200:1) leverage or 0.5% margin.