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FAQ
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Answers to the most frequently asked questions about Forex
Forex (foreign exchange market) is the global financial market where currencies of different countries are bought and sold. With a daily trading volume of $7.5 trillion, it is the world's largest market. To trade, you open a broker account and set up a platform like MetaTrader. For details, check our guide. What is Forex?
Technically, you can start with as little as $5. Micro accounts offer this possibility. However, $100-$500 is recommended for a sustainable trading experience. For details, check our guide. Minimum Capital for Forex
Leverage is a mechanism that allows you to open large positions with small capital. For example, with 1:100 leverage, you can trade $10,000 worth with just $100 in capital. It amplifies both profits and losses. For details, check our guide. What is Leverage?
Whether Forex is halal or haram depends on how the trade is conducted. It is possible to trade Forex in compliance with Islamic principles by using a swap-free (Islamic) account, without gambling intent, and based on knowledge. For details, check our guide. Is Forex Halal or Haram?
MT4 is Forex-focused with a simpler interface, while MT5 offers multi-market access, more timeframes, and advanced features. MT4 is recommended for beginners, MT5 for advanced users. For a detailed comparison, check our guide. MT4 vs MT5
Scalping is a trading strategy that aims to profit from very small price movements in a short time (seconds to minutes). It requires low spreads and fast order execution. For details, check our guide. What is Scalping?