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Chapter 6







Skill Level





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Having a reliable Forex broker and knowing how to make the most out of a good trading platform are essential for your success as a trader. In this chapter, we will examine the types of forex brokers in the industry to be mindful of. Next, we will discuss a top trading platform called Metatrader 5, as well as provide the next steps to easily start your trading account. Lastly, we will provide good reasons why demo accounts should be used and why backtesting matters.

We also created a simplified broker quality checklist to help you review your forex broker to make sure they match your trading needs.

By the end of this chapter, you will have a clear understanding of the most important factors to check for with your forex broker, how to make the most of your trading platform as well as the understanding of advantages from practicing on a demo.

Let’s dive in.

Completing this course will help you:

Who is the course for?

TYPES OF FOREX BROKERS & METATRADER 5 - chapter - baxia markets

Learning Path

Here we will cover: 

• Overview of different forex broker types (Market Makers, STP, ECN)
• Understanding the benefits and drawbacks of each broker type
• A comprehensive broker assessment checklist to empower traders in selecting the right broker

1.5+ Minutes read to complete

Here we will cover: 

• Introduction to the MetaTrader 5 trading platform
• Key features and functionalities of MetaTrader 5
• Customizing the platform and using built-in tools for efficient trading

1.5+ Minutes read to complete

Here we will cover: 

• Steps to open a forex trading account
• Understanding account types, leverage, and margin requirements
• Account verification and funding process

1.5+ Minutes read to complete

Here we will cover: 

• Importance of demo trading and building trading skills
• How to set up and use a demo account on MetaTrader 5
• Introduction to backtesting and optimizing trading strategies for improved performance

1.5+ Minutes read to complete

Are You Ready To Start? →