At XM we offer both Micro and Standard Accounts that can match the needs of novice and experienced traders with flexible trading conditions and leverage up to 888:1. The current floating rates system, which we know today, was adopted after World War II and has been in effect ever since. Prior to the current forex trading rates system, a monetary management system called the Bretton Woods Agreement was in existence, in which the exchange prices of currencies against each other were tied and correlated to the reserves of gold in possession of the two countries that were the originators of the actual currencies related to a transaction.
The Demo account serves an educational function; in fact its deposit consists of virtual funds, and it enables a trader to practice trading and gain professional skills without risking any real money. When trading on a demo account, both profit and loss will be virtual, whereas trading experience is remarkably similar to real-life conditions. However, you can earn on a demo account by taking part in InstaForex contests and getting real prize money to a live trading account. Each step of opening a demo account is comprehensively described in this section.
Whenever possible, go for a free demo account and then try your forex signals for a few days before becoming a paid member. Forex trading does involve some planning and strategy building so be prepared for a steep learning curve before trading with real money!
Joining easy-forex is free of charge and does not obligate you to make a deposit or conduct a trade. For example, the quotation EUR/USD 1.2345 is the price of the euro expressed in US dollars, which means that 1 euro equals 1.2345 US dollars. The online application will take approximately 5-10 minutes to complete. If all required documents are submitted (Copy of Photo ID, Proof of address etc.), the account can be set up within 24 hours (during normal operating hours).
The Fx market is open 24 hours a day, 5 days a week with the most important world trading centers being located in London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris, and Sydney. Due to all the above, and not limited to the above, the forex trading market is today the world's most liquid and most volatile market, with over $5 trillion traded daily.