Will a forex broker reject my application?
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.
no! they will not reject your application!
the only thing you should do is to decide which platform is best for you!
in your case i suggest http://best-forex-trading-platforms.blogspot.com/2009/03/fx-cast-review.html
I don’t think they will reject your application simply because of the reasons that you stated above. Give it a try, see what happens.
Trading is simple, IMO: you buy on strength, and sell on weakness. You use either fundamental analysis or technical analysis to determine strength or weakness. This is easier said than done. Keep trading, and always learn from your losses. Keep a trading journal. You probably know all this by now.
Since your demo trading is not as profitable, open a live account with the least amount possible. $10 is good for a newbie, then trade only one unit at a time. Trading this way will last you at least six months. When you find yourself starting to improve and consistently make money, then can you add more funds to your account.
good luck!
hi senesino,
as long as you can fund your account there should be no problem. anyway, if you’re looking for expert advises, you may check out your options in this site where by opening any of their accounts- mini, gold, platinum or vip entitles you to the services of a personal Account Service Manager or ASM as your mentor, consultant and trading partner as well. this is the best opportunity to have someone to talk to live via phone, email or chat to discuss your strategies and enhance further the techniques and analyses you have been doing. besides they have a chatroom where you can interact with other expert forex dealers worldwide to get their opinions and or advises on how to get profitable deals. the site is equipped with the latest security measures so you can always be sure that it is a trusted and reliable forex trading platform. all the best.
I see no reason for them to reject your application.I would try a broker offer micro account.For forex education site I would try this site .
http://www.babypips.com/school/
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Use a forex broker service to help you in this case.
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