One becomes a professional trader after using a real account for some time time, mostly more than one year, with consistent profits. It takes patience and determination to achieve this, and a lot of hard work to sustain that success. Trading discipline and proper risk management also matters
Even I think, one year is not enough; because almost all of the new traders start their trading with zero background! So, it’s quite impossible to build a good trading skill within a very short period of time.
A broker must have excellent knowledge of the market as he is the one who is suppose to invest money either he can take the trader or investor towards money loss, he must have legal and professional knowledge as less knowledge is more dangerous transparency is a must for a long term business relationship.
Baazex posted: A broker must have excellent knowledge of the market as he is the one who is suppose to invest money either he can take the trader or investor towards money loss, he must have legal and professional knowledge as less knowledge is more dangerous transparency is a must for a long term business relationship.
Whatever, traders trading knowledge is the key; brokers can ensure a good trading environment; but till now without own trading knowledge, there is no way!
A professional trader is the one who has a financial services licence or legal opinion in the operating jurisdiction. Having a licence doesn't mean he or she was/is/will be a successful trader... But having it you can call yourself or be called a pro - without it you are an amateur even if you have millions in profits from trading... This is the answer from a legal point of view. Full stop.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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