Forex beginner here. I just found out that online forex brokers actually offer demo accounts with ‘invalid’ cash that you can use to try and test the waters without risk, and I am seriously wanting to open a demo account right this moment, I’m still deciding which forex broker to open an account with. I have checked some news and followed trends as well to get me warmed up.
I want to get really familiar with one pair first and demo it for a while before I push through in the real money arena and deposit actual cash. Question is, Which is the best currency pair I should focus on first?Your opinion and expertise is appreciated.
Personally, and based on my experience too, I think EUR/USD is the best pair to start with. If you like to diversify, you can trade USD/JPY, and GBP/USD as well, since these are also widely used aside from EUR/USD. But of course I highly recommend starting off with a EUR/USD pair at first.
Good to know you read the news and know your stuff, and see how it react to the news and feel the response of the forex market. Cheers and best of luck.
The Euro is really a volatile currency but I got maximal result by using the EUR/USD trading pair when I was a newbie. Any trading pair can be profitable if you know how to manage money and trade practically by managing risks.
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