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Forex Trading in Nepal | How to Start Forex Trading in Nepal

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Forex Trading in Nepal

Start Your journey as a Forex Trader in Nepal

What is Forex Trading?

Firstly, FX trading, foreign exchange, or forex. All are the same don’t be confused with all these words. Forex trading is simply an act of buying and selling currency. It has a large number of buyers and sellers, trading their currency with each other at the final deal price.

Forex trading has a 5 trillion $ average volume of daily Trade. And it is one of the world’s biggest liquidity markets.

Let me give you an example. If you have traveled from Nepal to another country you need to exchange your currency as the present currency rate. If you have ever exchanged a currency then simply you have done forex trading.

Forex trading is legal in Nepal?

Good news for you, Forex trading is completely legal in Nepal. Forex trading is managed by the Securities Board of Nepal (“SEBON”) under the Securities Act of 2063, It was published on January 14th, 2007.

Many people believe that Forex trading is illegal in-country Nepal due to the lack of knowledge and information. But the truth is you can trade forex and make a decent profit from it.

How people make a profit from Forex trading?

Generally, The way people make a profit from the Stock market in the same way Forex trader is making a profit from it.

For example. You are a Trader, You predict that in one month the dollar(USD)$ price will go up compared to the Nepalese (NRS). And you will be buying dollar(USD) by spending Nepalese (NRS). After one month your prediction is right. And now you make a profit from the increased value of the Dollar would be the money made by you in the trade.

In the meantime, when you want to sell your dollar(USD)$ to Nepalese(NRS) rupee you will be getting a return with the profit made from Forex trading.

Strategies used in Forex trading

Buy low sell high

buy low sell high

Making Money on Forex trading is simple as far as you have good trading strategies about stepping towards the market and stepping out of the market. And having good knowledge about falling and rising market.

Short selling

short selling

Actually, There are many ways to make a profit from Forex trading. You can make a profit as short selling in the forex market too now you have a question what is short selling?

This is when you are able to sell something at a high price and buy it later at a lower price. So the profit here would be the difference between the selling price and the buying price.

eg: when you predict the market is going to fall and in short selling, you first sell currency and buy the same currency at the end again by making from it.

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How can we start Forex trading in Nepal?

Any Nepalese citizen can start Forex Trading in Nepal. Your requirements to start Forex Trading in Nepal are Capital (You can start with small capital too as a beginner), Forex broker (who you can trust openly), PC, or smartphone with a stable internet connection. By fulfilling all these requirements you can step towards your Forex trading journey in Nepal.

First Study the basics of Forex Market
study the forex market

Before jumping right towards Forex Trading in Nepal. We highly recommend you to learn Forex Trading basics with the available courses or any mentor as your choice. Actually, it can be benefit too you a lot also helps to minimize your losses from the Forex Trading in Nepal.

When you are a newbie in the Forex Trading. You can have lots of problems and confusion about Trading Forex in Nepal. So you better start your journey with learning the Market First. If you have difficulties learning Forex market stuff. There are a lot of free courses which you can enroll in to have good knowledge about it.

Set-up your capital for Trading
capital your budget

When you are beginners you don’t need to organize a large capital for Forex Trading in Nepal. Start with small, however, if you lose your cash in Forex Trading make sure you don’t lose too much at the beginning which helps you to be in the Trade for the long run.

I am happy to say that nowadays, the Broker provides margin trading features with a minimum of 1000 RS. Also, we have some Broker’s that provides a 0 RS deposit system to enhance their newly traded customer.

Find the best broker for Forex Trading
best forex broker

Once you are ready for Trading Forex in Nepal. You need to choose the broker which provides you the best facilities to Trade your Forex successfully and easily. As a beginner, you better not go with an advanced broker which provides you a lot of tools as a result you don’t have the knowledge to apply all those tools for your Forex Trading.

Let me clarify that, There is not any online Broker company which is situated in Nepal but you can go with a worldwide best broker which provides excellent services for Nepalese citizens.

Best online Forex Broker available in Nepal

1.

XTB broker
XTB Online Trading

Rating: 4.5 out of 5.

For all those Nepalese beginner Forex Trader. XTB online trading can be the best choice because XTB is the award-winning CFD platform that supports Forex, indices, commodities, stock CFDs, ETF CFDs, and cryptocurrencies. You can also start your demo account free for 30 days to practice your Forex Trading

2.

city index broker
CITY INDEX

Rating: 4.5 out of 5.

City Index is a trustworthy brokerage company. Which provides you an account minimum at 0$ cost. This brokerage company is Best for both new Traders and experienced Traders. City index is also the best broker company where you can easily Trade Forex as a Nepalese citizen. It can meet up your all Demand as a Forex Trader

3.

ic market broker
IC Markets

Rating: 4.5 out of 5.

IC Markets is consider one of the best Forex Broker in the world because of it’s excellent features compared to other Broker. IC Markets provides you 0 fees for Deposit,  inactivity, withdrawal. Because of this 0 fees features many people prefer IC Markets. And remember that it is best for both begginners and professional traders

4.

cmc markets broker
CMC Markets

Rating: 4.5 out of 5.

Actually, CMC Markets is known for the best low cost trading and professional trading. It has overall the best features compared to others types of brokerage company. it both mobile friendly and desktop friendly. CMC Markets customer service is good you can solve your problem as fast as possible

5.

plus 500 broker
Plus 500

Rating: 5 out of 5.

Plus 500 is known as easy to use online Forex Trading platform. Firstly you need to deposit 10,000 RS. Plus 500 has low Trading fees. For begginners it provides free of cost demo account. it has 0$ withdraw fees.

Activate and Start Trading

Now it’s time to step towards a real field of Forex Trading in Nepal. After choosing the Broker. The Broker company will activate your Forex Trading account in Nepal. After Activation, you will be eligible for Forex Trading in Nepal.

When you are finally eligible for Forex Trading, Start to analyze the Forex Market. The different method to analyze the Market are :

Technical analysis

Technical analysis plays a vital role in Forex Trading. It actually provides you the knowledge that when to buy and when to sell your Forex. Technical analysis helps you to study the chart of Forex Trading. You will be reviewing the market’s ups and downs. Technical analysis helps you to provide the signal to enter the market as well to exit the Markets too.

A broker provides you a Forex market charts to make your technical analysis experience good. Beside Broker other Trading platforms also Provides you a chart which helps to make your technical part as easy as possible

Fundamental analysis

The fundamental analysis simply the knowledge about what to buy. It provides you the idea about which currency should you buy by analyzing the country’s economy, politics, etc factors. When the fundamental analysis is going on your way. You have a clear vision about the currencies high or low value which provides you a lot of benefits in your long run Forex Trading in Nepal.

To make Your fundamental analysis far perfect. You should be uptodate about news and other kind of information related to the Forex market

Sentiment analysis

Sentiment analysis is the act of knowing what others Traders are thinking about the market and their steps towards the market. Trading is simply a trade of more than two people so if you know what other people are feeling about the Market. It makes you a lot easier to make your Trade successful in the Market.

Actually the Trade never moves to your favor. You need to move as per the market. With the help of sentiment analysis, you can figure out the forex Market bullish and bearish. Sentiment analysis helps in your Forex Trading decision in Forex Trading of Nepal.

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6 Comments

6 Comments

  1. Manoj

    August 14, 2020 at 1:50 pm

    Thanks brother for the detail information. I have been trading in NEPSE since long time. So I am planning to inter in the forex trade very soon. By the way which broker do you recommend for the Neplease people.. thanks.

    • Pratik bhatttarai

      August 15, 2020 at 5:07 am

      Thanks for your comment Mr Manoj.
      Actually Brother you can go with any of this above five Broker. It provides overall all facillities to the nepalese citizen.
      Have a great day Mr Manoj.

  2. Prashant

    September 2, 2020 at 2:48 pm

    Thanks for your information brother.i’ve been trading through demo account with forex.com broker since long time as is also available for nepal and I am ready to trade with live account.I just want to know if withdraw/deposit is possible through bank credit cards.I would be thankful if you clear this confusion😁.but this is’nt my only confusion…

    • Pratik bhatttarai

      September 3, 2020 at 10:15 am

      welcome, Prashant! you can connect your preferred broker with your bank account.

  3. Bhuwan Thapa

    September 7, 2020 at 6:46 am

    Hellow, Pratik brother I was know about Forex trading and above information quite help me out. So how can I start on Forex trading from Nepal and how much investment should I consider in initial period

    • Pratik bhatttarai

      September 7, 2020 at 7:29 am

      Thanks for your comment Bhuwan thapa. Brother you choose your above desire broker. First get started with demo account. so that you can have clear about how much should you invest as a beginner.
      stay tuned with trendsnp for more information like this..//

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