Are You Ready to Start Trading?
1.The FX market is open
3.Which of the following is a major currency pair?
4.Which of the following is a cross-currency pair?
5.If you are buying EUR/USD, it means
6.Going long on EUR/GBP means
7.Let’s say you are shorting GBP/USD. In order to make profits, the GBP/USD should
8.The ask price of a currency pair is
9.A spread is
11.An Expert Advisor is
12.A regulator is
13.If a broker has a Negative Balance Protection policy in place, this means that
14.A No-Dealing-Desk broker is
15.Placing a Stop Loss Order ensures that
16.A bar chart is also known as a
17.The shadow of a candlestick on a candlestick chart shows
18.Leverage is what allows a trader to
20.A technical indicator can be used to
Wow! Looks like you’ve really studied trading basics and are as ready as you’ll ever be for opening a real trading account! All you need now is to find a good and reliable broker to trade with. If you haven’t found one, read our advice on how to choose the right broker and how to stay away from FX frauds. If you’ve found a broker to trade with, make sure they tick all the right boxes of our checklist.
You’re almost there! Revisit the questions you got wrong and make sure you find out the correct answers before opening a real trading account. Look at our Forex Education once more and then find a good and reliable broker, taking into account our advice on how to choose the right broker and how to stay away from FX frauds. If you’ve already found a broker, make sure they tick all the right boxes of our checklist.
Not too bad… but not mind-blowingly well either! We really recommend that you visit our Forex Education again and find out the correct answers to the questions you got wrong. Before you open a real account, we suggest you take the test again, and then read our advice on how to choose the right broker and how to stay away from FX frauds. Remember, also, that there are many fraudulent brokers out there, so make sure the broker you choose ticks all the right boxes of our checklist.
Uh-oh… Looks like someone has not really done their homework. Word of advice: Do not open a real trading account just yet. Instead, go back to our Forex Education and read our articles on forex trading. You really don’t want to start trading until you pass our test with a better mark.
Do NOT open a real account just yet. We’ll repeat that. DO – NOT – OPEN – A – REAL – ACCOUNT – JUST – YET. We hate to break it to you, but you’re really not ready to start trading. Good news is, our Forex Education includes articles on everything you need to know about forex trading, so we really recommend you do some studying and then take the test again. Remember, it’s better to postpone trading for a little while but survive as a trader for the years to come, rather than rush into it and lose all your money in the blink of an eye.