Today, after a long time, I thought I would write an article about what's going on with... Forex trading in Greece but also to be a great step-by-step guide on how to safely start your journey to forex trading.
If you want to join our free group at telegram link can be found here
In today's guide you will learn:
- What is f?orex in Greece
- How to start Forex trading
- It's made of is forex legal
- How to find signal group
Let's start with the basics you should know.
Table of Contents
What is Forex in Greek?
The Forex Trading (or simply Forex) is the buying and selling of currencies in the world's largest financial market, where over 7 trillion dollars move daily!
In plain Greek: You buy one currency (e.g. euro) and sell another (e.g. dollar) at the same time, making a profit from fluctuations in their exchange rates.
Example: If you believe that the euro will rise against the dollar, you buy the EUR/USD pair, if your prediction is correct, you win the difference!
If you want to do Forex trading you can register with one of the best Brokers which is Vantage Markets.
If you want, you can read the detailed guide to Vantage Markets
How to start forex from scratch in Greece
So that you can start learn to trade forex In Greece, you will first have to learn the basics.
I have set the basics as follows:
- The basics of Forex trading: You should learn basic things like Brokers, Metatrader 5, Orders, Pips, Lots and risk management.
- Psychology: As strange as Forex trading and trading in general may sound, you should have a good psychology and get rid of greed, fear, and gambling expressions like we're going to get our losses back.
- Strategy: You will have to find a strategy that works for you or find a team that you can learn things from.
Whenever we're going to start, I'll show you the basics.
What is a Broker?
A Forex broker is a company that acts as mediator between the private investor (trader) and the global foreign exchange market (Forex market).
The broker provides access to trading platforms, where you can buy and sell currency pairs (such as EUR/USD), CFDs, stocks, commodities, etc.
The broker we use is Vantage Markets .
Now the next thing you should know is What is MetaTrader 5?
What is Metatrader 5?
The MetaTrader 5 is one of the most popular trading platforms worldwide, developed by MetaQuotes.
It is free and used for trading Forex, stocks, futures, CFDs, crypto and more.
We have made a detailed guide in Greek on how it works. metatrader 5
What are orders?
In trading you have the choice to do buy and sell directly, but you can do all this automatically.
You can also place orders to limit your loss or make the profit you want.
In short, orders are the instructions you give to the broker to open or close positions.
The basic types are:
- Market Order: Execution immediately at the current market price (buy/sell).
- BuyLimit: Buy at a price lower than the current one.
- Sell Limit: Selling at a price higher than the current one.
- Buy Stop: Buy when the price rises above a certain level.
- Sell Stop: Sell when the price falls below a certain level.
- Stop Loss (SL): Automatic position closure to limit loss.
- Take Profit (TP): Automatic close to lock profit.
What are Pips?
A pip (Percentage in Point) is the smallest unit of measurement of price movement in a currency pair.
- In most pairs (e.g. EUR / USD), 1 pip = 0.0001 (fourth decimal place).
- In Yen pairs (e.g. USD/JPY), 1 pip = 0.01 (second decimal place).
Example: If EUR/USD moves from 1.1050 to 1.1055, that is 5 pips. Pips are used to calculate profit/loss.
In the image below you will see that the movement made by EUR/USD was 78,9 pips.
Is forex legal in Greece?
Yes, Forex trading is fully legal in Greece.
It is regulated by the Capital Market Commission (HCMC) and follows the rules of the European Union (ESMA and MiFID II).
You just have to be with a legitimate broker.
Forex Trading Strategy
Forex trading it is not a game of chance – it is a process based on strategies, discipline and proper risk management.
A good strategy gives you rules for when to enter, exit, and manage your positions.
The most popular and effective strategies remain the classic ones, with an emphasis on technical analysis, trend following and risk management.
Remember: No strategy guarantees profits (the 70-80% of retail traders loses money), but proper implementation increases the chances of long-term success.
Start with me Demo Account for at least 3-6 months If you are a beginner, start on your own and with real money you will lose.
Popular Strategies for 2025
- Trend Following (The simplest and most effective for beginners)
“The trend is your friend”. You buy in an uptrend, you sell in a downtrend.
Tools: Moving Averages (e.g. 50 & 200 SMA crossover). - Breakout Trading
You are in a position when the price “breaks” support/resistance levels.
Example: Buy stop above resistance in a ranging market that is becoming a trend. - Price Action Trading
It is based on pure candlestick patterns (pin bars, engulfing) without many indicators.
Ideal for swing trading.
But you should see what suits you personally, I follow an orderblocks and cpr levels strategy.
Best Forex broker for Greeks
There are thousands of forex brokers out there that you can sign up for.
What I'm looking for is:
- Great security
- Low spreads
- Small initial deposit
- It should have all the assets I want to trade, for example gold, forex, crypto.
- Deposit and withdrawal options.
- Support
Personally, the broker Vantage Markets has all of this and you can register here.
However, if you want to see signals in gold trading for both buy and sell, you can check out the free group we have created.
Forex or Gold signals
The Forex and Gold signals Trading signals are notifications or trading suggestions sent by professional analysts, algorithms or groups of traders in real time, usually on Telegram or Discrod.
They tell you when to buy (Buy/Long) or sell (Sell/Short) a currency pair (Forex) or gold (XAU/USD – Gold), with specific entry prices (Entry), Stop Loss (SL – loss protection) and Take Profit (TP – profit lock).
Personally I am in a free gold scalping trading group with amazing results, if you want to get access the guide is here, The Best Telegram Group for Gold Signals.
Disclaimer:
What we mention on the website Bitsounisproject is for educational and entertainment purposes, does not constitute investment advice.
The above links to the services mentioned may be affiliate links.
List of Exchanges and Brokers (Affiliate)
- Bybit EU to buy cryptocurrencies register from here.
- Bitunix for cryptocurrency trading Register from here.
- Vantage Markets for trading Forex, Gold, Crypto and more register from here.
