Foreign Exchange Trading

Will a forex broker reject my application?

Sales — Wed, 14 Sep 2011 19:53:06 +0000

I’ve been demo trading for a month now(MGForex), so I decided to check out the application process for when I’m ready to open a live account. The application asks questions about your current finance, education level, etc.

I’m young, low-paying job, no college etc., so my question is: as long as I’m able to open an account with the minimum amount, will a forex broker have any reason to reject my application?

Also, any general advice from experienced traders is appreciated. I’ve been failing pretty hard at demo trading and I’m in serious need of direction. It seems like forex education sites always assume that you already have all this financial knowledge, then when you try to research a term, you have to research five more terms about that term, then ten more until you end up lost.

What Forex ECN broker should I choose?

Sales — Fri, 09 Sep 2011 19:44:17 +0000

I am also demoing the Currenex ECN platform. I am looking to open a account with this platform but there are several brokers that offer this. Any suggestions?

Here is a youtube video of this platform:

If there is a better ECN platform out there, please let me hear your suggestions.

Which Forex broker is more reliable.?

Sales — Mon, 05 Sep 2011 07:44:10 +0000

I have been trading on demo platform of Forex.com and Oanda. I found both the brokers very convenient on demo platform. I want to know which Broker is more reliable when it come to live accounts. People who have used anyone of them please let me know the feedback

Which is better – high leverage ratio or low leverage ratio?

Sales — Wed, 31 Aug 2011 19:43:51 +0000

Im still new in forex,in fact for the time being im still testing with demo account for 6 months now, and i think i wanna give it a go with 0 on live account. the thing that keep bothering me is the leverage. My forex broker offering leverage between 1:100, 1:200, 1:400, 1:500. So which leverage is best for me? yeah i know how to calc the leverage, but some people saying high leverage is better to account that dont have a large amount,while some say no. confused..

How fast can I grow $200 in forex?

Sales — Fri, 26 Aug 2011 19:49:09 +0000

Okay, so I’m pretty good with the demo accounts….made about K profit this week. But obviously that isn’t reality since they give you a whopping K to start with.

I want to start small so if I lose it all I won’t have regrets. I’m typically pretty good at growing small amounts of money….I grew less than 0 to over 00 in a few months on the stock market.

Any tips or ideas? Any particular currencies I should stick to for such a low investment? I know that 0 will only buy about ,000 worth with margin leverage at 50:1, and my calculations show that I will be getting very little profit even on large pip deals.
200 trades per day??? That is a lot!

On the demo account I average about 10 trades per day…but I’ve had some great moments….once made K on one trade in ten minutes. Of course, not real money but I expect to receive the same when I get my balance to that point.

Stop-loss….with demo money I rarely use but will definitely use with real money.

The whole point of starting off with only 0 though is that I really have nothing to lose. So if I rack up K and lose K on a trade I really won’t feel bad.

Thanks for the tip on the USD/JPY. I’m looking at the chart right now, and it looks like the downward trend will continue. In my demo account I have been trading USD/DKK and done very well, but I have heard it is better/easier to trade with Euro, Yen, and Pound.
@Ted

The odds may be against me, but I have been known to beat the odds. Just made in my 0 live account (started the day with in losses, then got off a NZD/USD deal). Now I can afford to lose without blinking.

That is my whole point. When starting with so little, you can afford to lose as much as you want and not cry about it.

Unlike most traders, I am starting off by educating myself FIRST instead of diving in and "learning from experience."
@wildbirdie

Oanda calls it a demo account. I’m not picky about the terminology.

You have a good point. But I checked over my large gains in the demo/practice account, and none of them would have been stopped out. I mean, some of the positions were only held for 10 minutes to an hour.

I DO have experience with placing stops (with stocks), but I agree that I should be implementing the same strategy in both the practice and live accounts.

Forex issue; understanding pip value?

Sales — Mon, 22 Aug 2011 07:44:29 +0000

Hey guys, I need a little help here.
I made this trade on a demo account, with a 200:1 leverage (using MT4: IBFX).

currency pair: gbpusd
lot: 0.4
buy: 1.62800
sell: 1.63000
profit:

since the formula to convert pip profit in $ is: "pip profit/ loss * lot size * tick size", the profit, in $, should have been (with a pip worth )

If you can help me on this one, it will be so great. Thanks, and have a nice week end.
Thanks for that explanation that makes senses, yeah,

But look at this one, highlighted on this picture:

https://picasaweb.google.com/lh/photo/HlSK2XNjLjkSD-3CBwbdLA?feat=directlink

same number of pips (loss), and yet, loss is , instead of

do i pay income tax on spread betting gains in France or Spain?

Sales — Thu, 18 Aug 2011 09:03:08 +0000

I have a spread betting account betting on the forex and want to retire to either France or Spain. Does anybody know the rules for income tax in these countries when making money through gambling. Thank you in advance

Where can i open a stock market demo account?

Sales — Wed, 17 Aug 2011 19:52:56 +0000

I do NOT want a FOREX / Foreign Exchange Trading account, I want to demo trading company stocks, but all the software I find is forex only

New car buyer HELP!!!?

Sales — Sat, 13 Aug 2011 20:46:55 +0000

Ok people im going to get straight to the point, I’m in the market of buying a fairly good used vehicle most likely an Infiniti G35 05-06 or Infiniti FX 05-06. I make ,000.00 monthly and have about 900 dollars for a car not and insurance, plus I am married so abruptly we bring in about k a month. My question is how do I go about in the best way to get a deal, online or in person? I know everything about these vehicles from the exterior to the interior and engine since they are similarly the same. I was looking for a way to finance a 94-98 TT Supra but since they are so old it’s really hard to finance them so I need to search for something else unless my mother or grandma with good credit history can finance for me. I have a 2003 Nissan altima 2.5s with 110,607 miles on it for a trade in or to sale, which used to be my mothers but she could not take care of the payments so I took over them without any paper worked changed, its valued at around ,800.00 and is paid off.
I’m only 22 years old and have fairly ok credit around 600 but I just started working for the IRS through a tax appraisal company about a month ago and it requires a lot of traveling and I’m wanting to get a great vehicle that will last me the next 6-8 years. I have 00.00 for a down payment and also the 03 Altima for a trade in. On top of that I need to get a car a.s.a.p. because my wife is going back to college this coming up semester, I really want the supra cause I know more about that vehicle than any other car out their but I gotta be real with myself and get something I can actually get. I really do deserve a nice vehicle and am still hoping I can get that TT MK4 supra. I need some really great honest answers peoples? Oh yeah one more question if my wife has gotten a car before and got it repoed and just got another one last year would it be best to finance under her name or my name ( she is in debt about 24k and I was surprised she was able to get a vehicle.
I am helping her pay for her loans since she is my wife and we are settling the loan’s with them and I think that was the only way my wife was able to get a vehicle. THANKS GUYS HELP ME OUT WITH UR OPINIONS

What uk-based forex broker do you use?

Sales — Fri, 12 Aug 2011 19:43:47 +0000

Im preferably looking for some that offer a micro account, low leverage (to get me started), UK-based, and web-based trading software. Being able to demo trade for a few months would be great also. Thanks in advance.

Foreign Exchange Trading

Will a forex broker reject my application?

Related Blogs

What Forex ECN broker should I choose?

Related Blogs

Which Forex broker is more reliable.?

Related Blogs

Which is better – high leverage ratio or low leverage ratio?

Related Blogs

How fast can I grow $200 in forex?

Related Blogs

Forex issue; understanding pip value?

Related Blogs

do i pay income tax on spread betting gains in France or Spain?

Related Blogs

Where can i open a stock market demo account?

Related Blogs

New car buyer HELP!!!?

Related Blogs

What uk-based forex broker do you use?

Related Blogs