How to start trading CFDs on FXPro Mobile App?

The world of online trading has evolved tremendously, and with the FxPro Trading App, traders can navigate the financial markets with utmost convenience. Let’s dive deeper into what the FxPro mobile app offers and the intricacies of CFD trading.

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FxPro Mobile App: Trade with the Best

The FxPro App stands as a beacon for those looking to trade on the go. Not only does it allow users to trade a wide range of assets, from stocks and shares to commodities and indices, but it also offers the following features:

Compatibility:: Seamlessly integrates with any FxPro MetaTrader 4/5 (MT4/5) account.
Advanced Charting:: Powered by TradingView, offering in-depth market analysis.
Economic Calendar:: Stay updated with market events and set alerts for important announcements.
Risk-Free Demo Trading:: Practice your strategies without risking real capital.
Fast Execution:: Orders usually executed in less than 13ms.
Multilingual Support:: Making it user-friendly for global users.

With its multitude of features, the FxPro app ensures you’re always in control of your trades, no matter where you are.

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What is CFD Trading?

CFD, which stands for Contracts For Difference, is a financial instrument that allows traders to profit from the price movement of an underlying asset without actually owning it.

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How does CFD work?

In CFD trading, traders enter into a contract with a broker, speculating on the price movement of an asset. When a trader believes an asset’s price will rise, they go “long”. Conversely, if they predict a price drop, they go “short”. The profit or loss is determined by the difference between the entry and exit prices of the trade.

For instance, if you predict that the price of Gold will rise from $1,500 per ounce, you open a “buy” position. If the price then increases to $1,525 per ounce, you can close the position, realizing a profit of $25 for every ounce traded.

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Long vs Short in CFD Trading

Going Long: This means buying or opening a position, predicting that the asset’s price will rise.
Going Short: This means selling or opening a position, predicting that the asset’s price will fall.

Leverage in CFD Trading

One of the appealing features of CFD trading is the ability to trade on leverage. Leverage allows traders to open larger positions with a smaller amount of capital. For example, with a leverage of 1:10, traders only need 10% of the trade’s total value to open a position.

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CFD vs Spread Betting

While both CFDs and spread betting allow traders to speculate on price movements, there are key differences:

Stake vs Units: In spread betting, you bet a stake per point movement, whereas in CFDs, you trade in units of the underlying asset.
Tax Implications: Spread betting is free from capital gains tax in the UK, whereas CFD losses can be offset against tax.
Ownership: Neither CFDs nor spread betting confer ownership of the underlying asset.

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Getting Started with CFD Trading on FxPro

Create a Trading Account: Register with FxPro, a broker with over 16 years of experience.
Choose a Platform: FxPro offers platforms such as MT4, MT5, and cTrader for CFD trading.
Develop a Strategy: Whether you’re hedging, pair trading, or news trading, having a robust strategy is essential.
Practice with a Demo Account: FxPro provides demo accounts with virtual funds, ensuring you can practice without real-world risks.

In conclusion, CFD trading offers a flexible approach to financial markets. With tools like the FxPro mobile app, traders have the resources and convenience they need to navigate the complexities of the trading world effectively. However, as with all forms of trading, it’s essential to remember the risks involved and to trade responsibly.

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FAQs about FXPro Mobile App

What is the FxPro Trading App?

The FxPro Trading App is a comprehensive mobile platform designed for trading various assets, including stocks, shares, indices, and commodities. It is integrated with FxPro MetaTrader 4/5 accounts, offering advanced tools like TradingView charting, live quotes, and an economic calendar for informed trading decisions.

Who is the target audience for the FxPro Trading App?

The app is designed for clients or potential clients of FxPro Global Markets Ltd. However, it’s crucial to note that 79.28% of retail investor accounts lose money when trading with this provider. Users should be aware of the risks and understand how derivatives work.

How can I ensure my account’s security on the FxPro App?

The FxPro App prioritizes security by employing personal data encryption, 2-step authentication, and additional security features such as passcode and fingerprint setting options to protect your account and financial transactions.

What is a CFD, and how is it different from traditional trading?

CFD, or Contract for Difference, is a financial instrument that allows traders to speculate on price movements without owning the principal asset. Unlike traditional trading, CFDs derive their value from the movement of the underlying asset, enabling traders to benefit from both rising and falling market prices.

How does leverage work in CFD trading?

Leverage in CFD trading allows traders to gain exposure to larger positions using less capital. For instance, a leverage of 1:10 implies that a trader needs just one-tenth of the transaction size as margin to open a position.

How are CFDs different from Spread Betting?

The primary distinction between CFD trading and spread betting is the method of specifying trade size. In spread betting, you decide a “stake” per point, while in CFDs, you choose units. Additionally, tax implications differ between the two. In the UK, spread bets are not subject to capital gains tax, whereas CFDs can be offset against tax-related losses.

How can one start trading CFDs with FxPro?

To begin trading CFDs with FxPro, you need to:

Create a trading account, providing necessary details and documents.
Download the preferred trading platform from options like FxPro, MT4, MT5 & cTrader.
Decide on a trading strategy and get started. FxPro also offers demo accounts for practice with virtual funds, ensuring you can build confidence without risking real money.