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The climb up the FX trading learning curve can be steep, but by making use of the many available resources, you’ll reach the top more easily. If you’re new to forex trading, here are five steps to help you reach the pinnacle.

One is to find a good broker. A market maker that’s regulated in at least one major country can ensure the money you send is safe, and that you have a jurisdiction to appeal in the event of bankruptcy. Larger market makers have more resources to assure stable trading platforms and servers, and enough employees to place your trade every time.

Two, check your broker’s stats. The Commodity Future Trading Commission’s website provides access to the latest financial statements for all register futures commission merchants.

Three, after finding a broker, test-drive its software by opening a demo account. Learn how to use the trading platform, and if it doesn’t suit you, find one that does.

Four, do your research. Keep current on daily fundamentals and technical developments in the forex market by keeping up on news and trends, and by learning technical analysis.

And five, sort out trading systems and signals, which fall into three categories – trend, range and fundamental. Forex traders typically use trend or range systems.

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