Forex Trading in the UAE

First, you need to understand the Forex Market. You also need to learn about different types of trading (stocks, forex, commodities, and indices) and stay updated on market news.

Your next step is picking a licensed broker regulated by the UAE’s SCA. Compare fees, platform features, and customer service. Make sure that at ATFX we provide a very competitive and better spreads and offers.

Next, open a trading account by providing your Emirates ID or passport and proof of residence and completing the E-KYC process.

Fund Your Account & start trading. Practice with a demo account and develop a trading strategy before trading in a real account.

Once you have familiarised yourself with the forex market through demo trading, the next step of your journey begins when you open a profile account with a trustworthy broker. You can complete a profile at this stage so your broker can identify you. The profile opening process requires your name and login information, such as email and phone contacts.

For most brokers, there are clear menus that let you download the required forex trading platform to install on your trading station. You could, however, choose to use the browser version of your broker’s trading portal. A browser-based portal is convenient for traders who want to access one trading account on multiple devices.

Next up, ensure that your account is completely verified before you fund the account. Always confirm whether you are using a demo account or a live trading account every time you want to trade forex. You can then refer to the same strategies you perfected in demo trading to identify opportunities for your first trade. Once you place your first few trades, stay calm and adjust your positions according to how the market environment behaves.

Leverage in forex lets traders increase their exposure to the currency market with a small amount of their own money, as they can control a much larger trade. While this can lead to bigger profits if the trade is successful, it also means that losses can be much larger if the market moves against them.

To start trading is very simple & easy. Here is a step-by-step guide to help you begin your journey 

1. Learn the Basics: Educate yourself about forex trading by looking into a trusted broker’s main educational resources like articles, webinars, and tutorials.
2. Register an account with a broker: Start by signing up and complete the registration process.
3. Open a Demo account: Once verified, open a demo account and get yourself familiar with all trading platform main features
4. Fund Your Account: Deposit funds into your live trading account by using our payment solutions provided.
5. Plan a trading strategy: after figuring out how to use the trading platform, start thinking of a trading plan and execute in the demo. Once you feel confident apply this plan in your real account
6. Seek support: Utilize the brokers`s customer support and any other educational tools you can find to continue learning and improving your trading skills

Pip in forex trading stands for Percentage in point. It represents the smallest price movement a currency pair makes on the market. In general, 1 pip change in most currency pairs is equivalent to a one unit move in the fourth decimal place of the exchange rate.

For example, if the GBPUSD pair moves from 1.2500 to 1.2501, that is a one pip movement

Pips helps traders determine the spread which is the difference between the ask price and the bid price. Pips are also used to calculate profits and losses which helps traders in return develop trading strategies.