Beginner
Beginner trading course
What forex and CFD trading is, how prices are quoted and how to place and manage your first trades on MT5.
- 01What is forex and CFD trading?Forex and CFDs allow traders to take positions on changes in market prices, but understanding the product comes before using a trading platform. This first lesson introduces the foreign exchange market, explains how CFDs work, and shows why both price movements and leverage matter when measuring potential gains and losses.4 min
- 02How currency pairs are quotedIn the previous lesson, you learned what forex and CFD trading are. This lesson explains how to read a currency pair, understand its quoted price, and distinguish between the prices used to buy and sell. These basics will help you interpret currency quotes on MT5 before exploring pips, lots and position size.3 min
- 03Pips, lots and position sizeIn the previous lesson, you learned how currency pairs are quoted. Now you will connect changes in those prices to trade size using three basic ideas: pips, lots and position size. These measurements help explain how a small market movement can create a larger or smaller change in your account balance.3 min
- 04Bid, ask and the spreadIn the previous lesson, you learned how pips, lots and position size help measure a trade. Now you will connect those ideas to the two prices shown in a quote: the bid and the ask. Understanding their difference helps explain why a new position often starts with a small unrealised loss.3 min
- 05Leverage and margin explainedIn the previous lesson, you learned how bid, ask and the spread affect trading costs. This lesson explains how leverage lets you control a position larger than the margin required to open it, and why this increases risk. Understanding leverage and margin is essential before learning how to place orders.3 min
- 06Order types: market, limit and stopAn order tells the trading platform what action you want to take and under which conditions. Following the lesson on leverage and margin, this lesson explains market, limit and stop orders, including how price movements affect execution. Understanding these differences helps you recognise what an order can—and cannot—control.3 min
- 07Stop loss and take profitIn the previous lesson, you learned how market, limit and stop orders work. This lesson explains how stop loss and take profit instructions can help you plan an exit before or after opening a position. You will also learn why these tools do not remove the risks of leveraged CFD trading.3 min
- 08Getting started with MT5MetaTrader 5, usually called MT5, is the platform used to view prices, analyse charts and manage trading orders at Xellion. This lesson introduces its main tools and a simple demo-account workflow, building on the stop loss and take profit concepts from the previous lesson. CFDs are leveraged products and carry a high risk of loss.4 min
- 09Trading sessions and market hoursAfter learning the basics of MT5, the next step is understanding when markets are open and how trading conditions can change during the day. This lesson explains the main forex sessions, why their overlaps matter, and how to check instrument hours before including a trading schedule in your plan.3 min
- 10Building a simple trading planA trading plan is a written set of rules for deciding when to trade, how much risk to accept and when to stay out of the market. In this final beginner lesson, you will bring earlier concepts together into a simple framework that supports consistent decisions without removing uncertainty or the risk of loss.4 min
Practise what you learn
Open a free demo account and try it with virtual funds first.
Risk warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Academy lessons are general education only and are not investment advice. Risk disclosure