Forex is a risky market in the world. Traders should trade safely in this market. But most traders fail to do that. Proper risk and money management are essential to reduce the risk and survive long in this market. I use 1:2 risk-reward ratio and only take 2% risk per trade. And, I am trading with Eurotrader. My broker provides high leverage but I only use low leverage.
If you want to know about forex, you can create a demo account under a broker. But remember one thing broker is an important part of the trading. Good broker can give you all the ways of trading and you can easily trade with that demo account. It will help you to know about the forex market practically. When I started to trade, I also opened a demo account under Tpglobalfx. They can give opportunity to put any amount you want to invest in the market in your demo account. you can manually set the spreads and leverage in their demo account. It helped me a lot to know briefly about the forex market technically and practically.
Money management is the most important aspect in risk control. I put a 2% risk on my capital on every trade. The most extreme risk to bet is 4percent. This implies that I take one of the most extreme trades. Everyone should adhere to their risk management guidelines. When I trade, I use Eurotrader broker because I like their educational resources, such as eBooks and videos. I've learned an enormous amount from there
I think regulation is one of the most important things to consider when seeking to lower one's risk. Licensing and regulation are the backbone of any reliable business.
