Trading forex on coinexx or any other trading platform is never an easy job. But realistically, making money in any way is not easy. You have to put in the work, dedicate time and focus to the whole process. Foreign exchange is a skill you can train and will give you money for life. But at the same time, it can be the cause of a financial wreck. Therefore, you need to understand how you intend to train this skill. The general rule of thumb is never to believe you can trade forex because someone else is making money. You do not know what trades the person is taking, whether they are copied or not. Also, you do not know the history of their trades and how much they have lost in the market in the past. Taking a decision to trade forex because of their wins may end up leading you astray. Either way, something must motivate you into trading forex. More often than not, it is the quest for money.
Because forex is a global market that has millions of traders, there are several trading platforms for people. These trading platforms have their specifications, features, and of course, perks to make people join their platform. Be careful however about how you join trading platforms because numerous scam platforms are offering unbelievable incentives. That is why you need to have full control of your greed before trading forex. One of the common platforms is coinexx, and this platform is nothing short of amazing. This article will explain how to use the coinexx platform for your forex trades as a total beginner.
For a start, the first thing you need to do is to create your coinexx account. All you need to do is to create your account on coinnex. This is very easy because you only have to fill out a biodata form, confirm identity and mail. Your account will be created and confirmed in a matter of minutes. After account creation, you are shown your dashboard. Your dashboard has pretty much everything you need to start and make money on coinexx. Fill out the biodata form carefully, as the information needs to tally.
Even if you have been trading forex for decades, it is always advisable to start a new platform with a demo account. The demo account does not mean you are a beginner. It only means you are new to the platform and you want to learn its interface and check other things. If you are just learning forex, the demo account is your safe place to take trades and keep learning.
Leverage simply means the multiples you want to trade in. Coinexx gives you options of four leverages. These include 100X, 200X, 300X, and 500X. The currency, on the other hand, is the base currency that you will operate under. That currency is what you will use to fund and exchange in your account. After that, download MT5 to check trading charts and take trades. After that, you can start learning on the demo account. When you feel good enough, create a live account and take trades.