If you re wondering what the average income of a forex trader is, you ve come to the right place. XM has a range of user accounts that cater to different levels of experience. The XM Micro Account, for example, allows for 200 open positions per client. You can start with a $5 deposit and trade with a Micro lot of one thousand units of base currency. In addition, there are no hidden fees or extra commissions to worry about.

The average income of a forex trader can be anywhere from $3 to $15 a day, depending on the strategy used. The deposit and leverage will affect a trader s earnings, but they are not the only factors that determine the amount he or she can earn. Successful trading is about developing the skills to accurately forecast short-term world economic conditions. While a large deposit is necessary, it s not sufficient for making a full-time living.

The income of a Forex trader is often not expressed in specific dollar amounts, but is instead presented as a percentage of one s initial deposit. Unlike other industries, however, forex trading is not a static market. As a result, even the smallest news and events can change prices. However, following changes in the market will give you a distinct advantage. The average income of a Forex trader is affected by a variety of factors, including the number of lots a trader opens on a daily basis and his or her leverage. Higher leverage means more risk, but a higher return, but it also means greater potential.

The XM Group provides exceptional customer support. They have live chat services that assist new traders and educate them about the MetaTrader platform. MetaTrader clients can access the full suite of trading platforms through MetaTrader. As long as you follow the guidelines and have a positive attitude, it is likely you will enjoy a high level of success with XM. This is why XM is such a popular choice among many traders.

Some of the most successful FX traders in the world started trading as a teenager. One of the most famous was George Soros, who broke the Bank of England and made hundreds of millions in a few years. His short position against the pound was worth over $1 billion. Soros net worth is estimated to be around $8 billion. While these figures do not accurately reflect the average returns of the vast majority of online traders, they are a great reference point for newbies.

While the XM Group s minimum trading size is small, you can trade with as much as two lots of currency as you want. Most professional traders use a 2:1 leverage, which means they trade one standard lot for every five thousand units of base currency. For example, if you deposit $5 and trade with leverage of 1:1000, you ll need to deposit at least $1 million in your trading account. This amount of leverage will depend on how much capital you re willing to risk, and the leverage you choose.