Starting or Learning forex trading in Nepal is not a hard job though. You can easily learn it from the internet. You have to write down the desire word and search it. You will get all the information on google.
But if you are talking about something an important element of forex trading that is it legal to trade forex in NEPAL, then I am sorry to say It’s illegal.
However, there is ongoing research and study how to implement forex trading with introduction of few other financial tools and technologies in Nepal by Securities Board of Nepal (SEBON) and Nepal Rastra Bank (NRB) in coming years.
It is just a matter of time, when will it be legit to do so. Until then, we can learn about Forex trading and have a powerful grip on all upcoming future financial instruments like Future and Options in NEPAL, Commodity market in Nepal.
How to find a reliable forex broker in Nepal?
The first step towards learning or starting forex trading is choosing appropriate forex broker who provides demo trading platform. You can find it on Google though. So, it is not a hard part. But most of them are thinking that “Is it reliable to me?” “How can I trust it?”
Then my answer will be clear that you have to follow some steps that show “how to find a reliable broker?”
Here are some tips:
- Open Demo Account and Practice your TA Accuracy – When you’ve found a broker, you’re interested in working with, open a demo account to try him out.
- Forex Brokers Reviews – Seek around for Forex broker reviews. Be sure to read reviews from multiple sources and sites.
- Google Every Terminology – You can do Google searches to find Forex brokers, but this method might not tell you much about the brokers themselves. Make sure to read all the reviews and try demo accounts to make sure you’re comfortable with a broker before committing a large sum of money to an account.
- Join Forex Forums and groups on social sites – Visit some Forex forums to get input from people who are already trading. There’s a wealth of information hiding in Forex trading forums. It’s one place where you can research both bad and good experiences with different Forex brokers.
So here you already know how to find a trusted broker. We will also add another answer on how to learn forex trading. So, if you keep practicing, one day you will be rewarded. To be honest, this question deserves a comprehensive and detailed answer. However, I will explain the main points I have experienced in starting forex trading.
Starting a new thing is awkward. That will make it easier. Therefore, starting forex trading is dangerous for everyone. Before that, you need to know the forex trading conditions and their overall risk percentage. You can then start trading forex.
There are trading platforms like MetaTrader 4 and MetaTrader 5, about which the majority of the traders, even the most beginners, have heard about. But, there are also many others that not many people might not know about.
In fact, some of the Forex brokers even offer traders their own, custom Forex trading platforms, created specifically for their clients.
Personally, I believe that market analysis is one of the most important factors of the Forex trading market and the success made while trading. If you do not analyze the market in a detailed manner, it can be very challenging to make the right calls and understand how the prices are moving in the market.
Now, let’s discuss some of the best trading platforms that you should totally know about.
What are best trading platforms for forex from NEPAL?
MT4 and MT5 are two of the most popular Forex trading platforms in the market. These trading platforms were developed by a very famous company called Meta Quotes.
It made the Forex Trading market a lot easier for market participants to access and to become part of. It offers traders access to numerous built-in trading indicators and analytical tools, which can make trading a lot easier.
It is another very well-known charting tool that is used by widely by Forex traders in the market. Although it is a trading platform, it is used by a lot of traders around the world. It is a charting solution that offers traders the opportunity to analyze the market in a more detailed way with many trading indicators available.
Also, TradingView offers traders the opportunity to connect with other traders, exchange ideas, and learn more about the ongoing events in the industry. It is a great platform for beginners, as it offers them the opportunity to grow and learn much more about the market events.
You can start with a good free tutorial website like babypips. Starts at beginner level and works up from there.
Always start off in demo mode until you are profiting consistently.
And beware, it is still illegal to trade on forex in Nepal, but someday it will be legal.
Lets prepare ourselves till then.