It's really important to verify a broker is licensed. This way they have monthly reporting, annual audits, have capital requirements, and some other regulations to follow. I usually look at the company which is regulated and have a license. However, the basics of forex are not enough but one should have some basic knowledge of forex to start trading. A trader must be ready to learn daily and should develop strategies to be siccessful.

Currency trading is a 24-hour market that is only closed from evening to Sunday evening, but the 24-hour trading sessions are misleading. There are three sessions that include the European, Asian and America trading sessions.

Although there is some overlap in the sessions, the main currencies in each market are traded mostly during those market hours. This means that certain currency pairs will have more volume during certain sessions. Traders who stay with pairs based on the the dollar will find the most volume in the America trading session.