Feeling stuck financially? Trade forex and CFDs with a caring broker

Many people, at some point in life, feel like they need to do more financially, but find few ways to do that. Either they’ve progressed enough professionally that there’s no way to move forward anytime soon, or they simply want a different avenue of earnings, separate from their 9-5.

However, that’s easier said than done. In most places, working a side job beyond a primary profession isn’t really feasible. And starting a side business is something a lot of people don’t want to do, not to mention that few businesses actually become financially viable.

As such, that leaves few avenues for most people to pursue. Giao dịch Forex and CFDs, however, is an option. It’s fairly non-committal, in that traders can always simply withdraw their funds and call it a day if they feel like they aren’t up for it. Additionally, the time investment can be whatever you want it to be, and unlike starting a business, you can take a break whenever you want.

But, to address a dangerous sentiment circulating online, trading is far from being a sure or easy way to earn money. You can’t expect to jump into a platform, make your first deposit, and turn a profit the next day.

While that may turn some people away, there are few things that one can do and expect to be a better trader.

Learning how to trade

Before someone becomes a trader, it’s important that they know what they’re getting into. The finance world is vast, and although traders don’t need an economics degree, they need to be familiar with some concepts.

This includes basic things like supply and demand, opportunity costs, and how speculative markets work. Those who want to trade forex in particular will need to familiarise themselves with monetary policy principles, trade relations, and inflation.
They should also understand broader monetary policy concepts and other key economic factors.

Beyond economic concepts, aspiring traders will have to get used to some new terminology. Here are a few examples:

• Chênh lệch giá: The difference between the price that someone is willing to sell for and the price that someone is willing to buy at.
• Tính thanh khoản: The ease with which assets can be bought and sold without the price moving significantly.
• Slippage (Trượt giá): The difference between the expected price and actual price, usually caused by the delay between a trading server and a device.
• Margin/Leverage: The ability to magnify your capital and increase the profits or losses. For instance, a leverage of 1:10 will make traders able to purchase an asset with a value of $100 with only $10, but will also multiply any profits or losses tenfold.

It all sounds very overwhelming.

However, it’s not an overnight job. Again, traders don’t need a college-level economic education to understand the concepts they need. There are many in-depth articles available that explain the terminology they need to learn.

If they are feeling stuck or lost, AI tools can easily provide further guidance, simplify terms, and give specific examples.

Getting some direction

While it’s easy to say these terms are simple if you take them one by one, the breadth of knowledge is undeniably difficult to bear. Not only that, but even once one learns everything they need to, tackling actual markets is a whole different beast. Putting knowledge into practice is difficult, and the practical aspect introduces a whole new dimension of brokerages and trading platforms.

That’s why it’s important to find a brokerage that cares and provides one with the tools they need. That doesn’t just mean technical tools; that includes making the education process easier, and having the infrastructure to support traders’ needs when they feel lost.

IronFX is a brokerage with 15 years of experience in the brokerage industry. During that time, we’ve cultivated great trader relations and focused on nourishing our customers.

The entire service is centered around consistent growth and support for traders’ daily routines. As such, the educational services gradually guide traders through what they need to learn.They introduce base concepts slowly and test knowledge so traders can be confident in what they’ve learned.
They also prevent information overload by tackling one subject at a time.

At the core of this is the IronFX academy.
The program guides traders through one base-level topic at a time. Let’s take a more in-depth look.

IronFX academy

The IronFX academy consists of four topics that any beginner should have a firm grasp on before they start trading.

• Introduction to forex markets – Containing base concepts and key trading terminology
• Fundamental analysis – Covering key economic concepts and how they translate into the market
• Technical analysis – Dealing with market indicators and how traders can use charts to predict markets
• Trading strategies – Unifying previous lessons and helping traders develop a trading plan

Going through these courses, made of video materials and tests, will let traders grasp the basic concepts they need to start feeling more secure in their grasp of the markets. They alleviate the initial pressure that turns so many off from trading and makes the initial period feel overwhelming.

However, it’s also true that these courses won’t make one an expert trader. These are primarily used to build a firm base of knowledge that traders can expand on further. Luckily, for those who go beyond the courses, there are more educational materials to discover.

IronFX eBooks, podcasts, and webinars

Once traders grasp the base concepts, IronFX provides materials to deepen that knowledge and make it practical. The primary way to do this is through eBooks.

Written materials allow IronFX to go much more in-depth about certain topics, and thus give traders a better understanding of how they can utilise the concepts they’ve learned. The eBooks share the same topics as the courses, so the best approach for those who want to take things slowly is to listen to a course and then learn from the corresponding eBook.

Podcasts are a looser format, and tackle everything from current events to general concepts like trading psychology. These are shorter and can be used to quickly glean expert opinions on important topics. They are perfect for when traders feel out of focus but still want to get something productive done.

Finally, webinars are long-form videos where experts discuss various high-level trading ideas or what’s currently going on in markets. They are great for those who want to see how actual traders really think and operate within the context of markets.

Needless to say, all of these materials are completely free for IronFX members. So, even if one is still on the fence about actually trading, they can simply register for an IronFX account and access the in-depth educational material library.

IronFX – A broker that cares

Beyond education, IronFX positions itself as a brokerage that truly supports all parts of a trader’s journey. The support team works 24/5 and operates in multiple languages to make sure every trader can get the service they need, and the service itself is structured to make trading procedures easy and as stressless as they can be.

Disclaimer:
This information is not considered investment advice or an investment recommendation, but instead a marketing communication.