Q&A: What Broker to use for trading Forex?
Question by Ryan: What Broker to use for trading Forex?
Where do I go to trade forex? I want a broker with as little commission as possible.
THANK YOU!
I’m not sure about doing forex.. I do stocks right now.. I just want to learn about forex and see what it’s all about
any other advice will be greatly appreciated!
Best answer:
Answer by Andy Medlam
You mentioned that you’re interested in learning ‘How To Forex Trade’
I came across this site the other day talking about how to forex trade.
Check it out http://www.HowToForexTrade.net.
Know better? Leave your own answer in the comments!
There are many forex brokers and most do not charge a commission.They make there money on the spread.Forex is a whole different animal than stocks.You need to be very careful because you can loose your money very quickly trading currency’s.If you are trading stocks as you said you should be careful also because the market is going to drop like last year because of commercial property foreclosures this year soon.This market right now is being moved mostly by individuals no institutions.
If you are a beginner, i suggest you to use Marketiva, which is a very good platform to start trading with and very easy to use.
Marketiva gives you 5$ real to start trading so you don’t have to deposit and if you made profit from it you can cash out, this is why it’s very good for beginners. Their platform is very easy to use and they have support during trading hours.
To open your account please visit http://www.marketiva.com/index.ncre?gid=3371
I use this website to look for answers. We are on the same boat here.
http://bigforexmoney.webs.com
Hi,
You can check Oanda for example as they are quite reputable and well known.
If you are starting you can also check out robots which make it easier to trade.
Good Luck,
I have been trading the forex market for years and reviewed some of the best brokers at http://www.forexlane.com/brokers.html
I would suggest that you use Oanda to start forex trading for the following reasons
Large company. Been around for a long time.
Small spreads and no commission.
Trade as small as 1 USD.
Demo trading platform.
Forex Trading is very different to stock trading as a sit and hold policy is not normally a valid strategy for forex trading. Whilst the high leverage can mean great profits it can also wipe you account out very quickly.
I have included links to Oanda and to a couple of sites that have good information on learning to trade forex.
The best advice I can give you is to open a free demo account up that functions the same way a normal account would in every way. You can open one up with the broker found below. They are great because when you feel you are ready to trade with real money then you can open an account up with Paypal which is very rare for a Forex broker to do. They also open accounts instantly online. So basically the best way to learn Forex is to just start trading with a demo account and learn it yourself. Good luck.
There are 8 Decisiions which you have to make correctly. Decision 1- which trading platform to use there are hundreds of brokers in the market, which means that you connect to them through the internet, and trade through them. Usually each broker has his own platform – how your screen looks, how to track of your funds, etc.
You can read all about it in my article at Ezine Articles, below.