How to place your first live trade

Gaining access to the live markets requires a forex platform (desk), offered by forex brokers who provide connection to the market. Join the EFX community and trade with renowned platforms which we trade with. You will need to register with a forex broker that connects your account to the trading platform.

Create a Forex account

It’s free to register a new account, it can take less than five minutes to set up and there’s no obligation to fund. If you decide to do this through EFX, we will send you a short guide on how to access MT4, configure your trading account and trade forex on the live market.

Account open summary

  1. Create account with Forex platform
  2. Download MT4/MT5 and add funds to your new account
  3. Configure MT4/MT5 app on preferred device to trade on the live market with real funds.

With MetaTrader 4/5 Traders can analyse financial markets, perform advanced trading operations, run trading robots (Expert Advisors) and copy deals of other traders.

How to place a trade on MetaTrader 4/5:

Step 1) Select your currency pair, press and hold and select ‘trade’   Options pop up *Screenshot*

Step 2) Set trade parameters Apply your stop loss and take profit values. (Optional) *Screenshot*

Step 3) Buy or Sell. Pressing Buy or Sell executes the trade in your desired direction.

Trade Execution types within MetaTrader 4/5:

You decide to buy or sell a currency pair at the stated live price.

  • GBPUSD 1,27 +0,01 +0,43%
  • EURUSD 1,14 +0,01 +0,70%
  • USDJPY 110,74 +0,30 +0,27%
  • USDCHF 0,99 +0,00 +0,06%

Buy Stop – A buy stop order is when you want to buy the market at a higher price so you can catch a trending market as price pushes past your desired entry price. Buy stop orders are usually used with technical strategies such as when key resistance levels are broken. To place a buy stop order you will need to set an entry price, stop loss price and take profit target.

Buy Limit – A buy Limit order is when you want to buy the market at a lower price so you can make a bigger profit on the uptrend after price has reached your desired price. Buy Limit orders are usually used with technical strategies such as support levels and trend-lines for pull back buying opportunities. To place a buy limit order you will need to set an entry price, stop loss price and take profit target.

Sell Stop – A sell stop order is when you want to sell the market at a lower price so you can catch a trending market as price pushes past your desired Entry price. Sell stop orders are usually used with technical strategies such as when key support levels are broken. To place a sell stop order you will need to set an entry price, stop loss price and take profit target.

Sell Limit – A sell Limit order is when you want to sell the market at a higher price so you can make a bigger profit on the downtrend after price has reached your desired price. Sell Limit orders are usually used with technical strategies such as resistance levels and trend-lines for pull back selling opportunities. To place a buy limit order you will need to set an entry price, stop loss price and take profit target.

Free practice account

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