For beginners, starting trading is not an easy thing to do, there are several factors that make new traders hesitant to get started. An obstacle factor that is often encountered by prospective traders is not knowing how to play forex in the most basic, simple, and easy way.  

How to play forex for beginners?

Actually, forex trading is not something difficult to get started. You just need yourself to be ready to get started. Next, you can follow the following tutorial on how to play forex. Before that, traders can fill out the GIC Trader Assessment first!

1. Choosing the right forex broker

The first thing you do when you want to trade forex is to choose the right forex broker. The role of a broker is very important for a trader because the broker is the link between you and the forex market. Well, for those of you who are just becoming a beginner trader, try to choose the right forex broker. Why is it important to choose a forex broker? Because the right forex broker will usually help you to learn how to play forex correctly by not only knowing the profit but also knowing the risk. There are several important things that you can consider to choose the best forex broker, both local forex brokers and foreign forex brokers as follows:
  1. Have permission from official regulators such as Bappebti. If the forex broker is international, at least it has a regulatory license from the country of origin.
  2. It has been established for more than 5 years and is widely chosen by traders.
  3. Also find out the reputation of the brokerage company you will choose, whether the broker has ever had problems, especially legal issues. Then, whether the authorities have ever frozen the broker's license. The easiest way to find out is by browsing the internet or asking experienced traders directly. 
  4. Easy and fast in administration such as registration, deposit, and withdrawal (withdrawal).
  5.  The broker provides education on the right trading or investment methods and strategies, such as offering a demo account and holding trading learning classes for beginners.
  6. Find out the cost burden charged to the trader or investor, such as commission fees, spreads, and swabs.
In addition to the above, many traders in Indonesia also choose forex brokers that have an affordable minimum deposit (small) so that they can start trading with a small amount.

2. Prepare your capital for trading

As a beginner trader, you must be confused about what you should prepare to start trading. Information on the internet makes you feel overwhelmed to digest information and makes you even more confused. In fact, forex trading can be done in a fairly simple way.  The first thing that is prepared to support your smooth conduct of forex trading beginners is a computer or laptop device, a smartphone, and a stable internet connection. For beginner traders, having supporting tools will make learning how to play forex smooth.   In addition, you need trading platform software that can be downloaded and used for free. You can get the trading platform software through the forex broker you have chosen. Examples of popular trading platforms that are popular with many traders are MetaTrader 4 and MetaTrader 5. 

3. Open a demo account

If you are a beginner and are still hesitant to 'plunge' directly into the world of trading because you are afraid of losing, there is a way to play forex for you that can be done without capital and without loss, namely by opening a demo account first. A demo account is a type of account provided by the majority of forex brokers where new traders or beginner traders can trade without the risk of losing money. Traders can view price movements in the forex market on the application provided by the broker along with a demo account. Not only that, traders can also execute buy or sell or close trading positions (close), and practice strategies according to the actual market conditions. However, by using a forex demo account, traders do not need to provide capital for deposits.  On a demo account, the deposit (balance) on the trading account is virtual money or not real money provided by a forex broker for free. If it is profitable, then you cannot withdraw funds, and vice versa, if you suffer a loss, you do not really bear the loss. 

Survey Pengguna GIC 

For beginner traders, a forex demo account will give you a real idea of how to trade forex online, a forex demo account is useful for maturing your trading skills before traders move to a real account, as well as practicing analyzing and executing trades.  Beginner traders and experienced can take advantage of the forex demo account to test the trading system freely and freely without fear of losses if they make mistakes. For traders who are still looking for a broker, then by registering a forex demo account, you can see how the technical performance of a broker is. 

4. Diligently attend forex trading education classes

Understanding the risks of investment forex is something that you should pay attention to. Investing in the futures industry including forex is safe to do, as long as your understanding of the risks is well understood by you as a trader or investor. Because the world of forex trading is a high-risk high-return investment, you must choose a forex broker that provides forex learning facilities through educational classes. This forex trading education class can be in the form of webinars, e-books, trading videos, and others. During a pandemic like this, all classes are usually held online, so you can learn effectively and efficiently. If forex learning facilities are provided completely and updated, you no longer need to worry too much about looking for forex learning materials.  You can also participate in educational events or classes held by GIC Forex Academy. You can also start with a beginner's forex learning guide. So, don't just play forex, you must know how to play forex correctly by diligently attending forex trading classes.

5. Continue by opening a live trading account

Even though you have created a demo account, it does not mean that you have actually traded. As explained earlier, a demo account is only useful for maturing trading skills before traders move to a real account as well as to see how a broker's technical performance is.  If you want to get serious about forex trading, it's a good idea to open a live trading account with a trusted forex broker and make a deposit. Usually your trading psychology will be better with this way of playing forex.

6. Make a deposit

The next step is to deposit funds in your live trading account. Impossible, right, you want to play forex and already have the knowledge of how to play forex correctly but don't deposit funds? At this stage, many beginner traders are usually hesitant because they already feel fear. Fear of losing money and losing money. Not to mention that most local forex brokers require a significant deposit.  Many traders choose to trade at offshore forex brokers because they have small deposit requirements. However, because you do not have a permit from a regulator in Indonesia, there will still be risks that you have to bear. Even though you can trade forex safely with a minimum deposit on GICTrade. GICTrade is a forex trading platform owned by GIC. You can open a live trading account at GICTrade with a minimum deposit of IDR 2,000,000. Unlike other conventional brokerage companies, GIC through the GICTrade platform provides a solution for traders who do not want to be charged with high trading fees. Traders will benefit from the absence of commission fees and low swap fees and spreads. Regarding security and regulation, you don't need to worry, all transactions from GIC customers are reported to the Jakarta Futures Exchange (BBJ) and the Indonesian Futures Clearing House (KBI) based on transactions that occur on segregated accounts of licensed brokerage company partners in Indonesia, namely Trijaya Pratama Futures and Capital Megah Mandiri. GICTrade is the choice for those of you who want to trade with a minimum deposit. 

Still having trouble understanding the basic techniques of forex trading? 

Don't worry, if you find it difficult to understand how to play forex or the learning materials or basic trading techniques, it is not because the forex market cannot be understood. To make it easier for you to become an expert trader, join the trader community on Telegram GIC Forex Academy which will provide information and trading education that is often held by GIC.  You can also join the trader community on GICtrade Telegram to ask fellow traders directly about their trading experience. Also follow GIC Instagram to get webinar information and various attractive prizes. In addition, on YouTube GIC, traders can also learn to trade for free! Easy, right? Currently you can learn how to play forex via Android or through your smartphone.  What are you waiting for? Get more features that fully support you to start investing and trading forex through GIC. Make transactions simpler, safer, and more profitable.