Getting started with OBTrend couldn’t be easier. Follow the steps below to start trading in few minutes. Trading forex and CFDs is similar to the equity market and starts with opening up a trading account.
First of all you need to sign up and open an account here. In next step make your first deposit – just Log in to OBTrend Secure Client Portal, which is your online account management page, and choose one of the wide range of payment methods.
Now you can download the trading platform. OBTrend allows you to choose the best trading platforms MetaTrader 4 with Web and Mobile versions. Installation only takes a few minutes with a high-speed Internet connection. After clicking on “Download”, a MetaTrader 4 Setup window will appear.
Decide what currency/instrument you want to buy and sell. Currencies are always quoted in pairs, such as GBP/USD or USD/JPY. The reason they are quoted in pairs is because in every Forex Market transaction, you are simultaneously buying one currency and selling another. How to Read a Forex Quote? Forex example EUR/USD = 1.13158. In this example EUR is Base currency and USD is Quote currency. The first listed currency to the left of the slash (“/”) is known as the base currency, while the second one on the right is called the counter or quote currency.
Now you should determine whether you want to buy or sell. If you want to buy it actually means buy the base currency and sell the quote currency. In trader’s talk, this is called “going long” or taking a “long position” (long = buy). If you want to sell, it’s called “going short” or taking a “short position” (short = sell). Bid/Ask – All forex quotes are quoted with two prices: the bid and ask. Bid is for sale, and Ask is for buy. The difference between the bid and the ask price is popularly known as the spread.
Now all your trades can be seen and managed in Terminal window of MT4. You can also check your transaction history and manage your account through our OBTrend Secure Client Portal.