Big Kontrolla Forex Academy is a platform dedicated to empowering individuals with the knowledge and skills needed for success in the forex market. We offer comprehensive coaching, educational programs, and resources to traders of all levels.
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Frequently Asked Questions
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What is Big Kontrolla Forex Academy?
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What do I need to start trading with Big Kontrolla Forex Academy?
You will need to buy a Mentorship plan
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How much is the Mentorship plan?
$250, $350 & $500 respectively.
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What makes Big Kontrolla Forex Academy different from other training platforms?
Big Kontrolla Forex Academy stands out for its personalized coaching, comprehensive educational programs, and a commitment to empowering traders of all levels. We focus on providing practical insights and strategies for success in the forex market.
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Are the training sessions conducted online or in person?
Our training session is conducted both in-person and online depending on your preference or availability.
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What is forex?
Forex, also known as foreign exchange or currency trading, is the buying of one currency by simultaneously selling another. Forex traders attempt to profit by speculating on the direction the currency exchange rates will go in the future.
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When is the forex market open for trading?
You can trade forex 24 hours a day, from Sunday to Friday.
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What forex markets are available to trade?
You can trade over 80 currency pairs.
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What Influences Prices in Forex Trading?
There is an endless number of factors that all contribute and influence the prices in forex trading (i.e. currency rates) daily, but it could be safe to say that there are 6 major factors which contribute the most and are more or less the main driving forces for forex trading price fluctuation:
1. Differentials in inflation
2. Differentials in interest rates
3. Current account deficits
4. Public debt
5. Terms of trade
6. Political and economic stability
In order to best comprehend the above 6 factors, you will have to keep in mind that currencies are traded against one another. So when one falls, another one rises as the price denomination of any currency is always stated against another currency.
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What is Important in Forex Trading?
As a retail foreign exchange trader, the most important factors that affect your trading is trade execution quality, speed and spreads. The one affects the other.
A spread is the difference between the bid and the ask price of a currency pair (buy or sell price), and so to make it even easier it is the price at which your broker or bank is willing to sell or buy your requested trade order. Spreads, however, only matter with the correct execution.
In the forex trading marketplace, when we refer to execution we mean the speed at which a foreign exchange trader can actually buy or sell what they see on their screen or what they are quoted as bid/ask price over the phone. A good price makes no sense if your bank or broker cannot fill your order fast enough to get that bid/ask price