what if my balance is $65… what do you understand about where should i start trading?
From what I’ve read, you shouldn’t even trade a Micro account without at least $500. If you check the School tab in the menu above, you will find one of the College lessons that will explain in more detail.
It is called:The Number One Reason Why Traders Fail in the Forex Currency Market
FXCM will give you a free live micro account and fund it with $25. I got one and it was funded in less than a week. I emailed you the link and would post it but would get chastised by the admin for “advertising”. Strange how I can give everyone a free $25 but still be “advertising”??? I asked the admin for a clarification on what is advertising and got no answer.
If anyone else wants the link, send me a PM.
You wouldn’t think there’d be a problem posting the link since they (BP) advertises FXCM all over this website…lol
I’m still waiting for a reply to an email I sent last week…don’t hold your breath
I agree with merchantprince, definetly check out the babypips school. Small account sizes can be dangerous.
Although, there are micro accounts out there that let you have a small balance and trade exremely small pip sizes (pennys). Actually, that is how I really got turned on to the Forex. FXCM gave me a free $25 micro account for playing CNBC’s stock market game. Granted I lost it all because I didnt know what I was doing at the time, but it was a cheap lesson. It takes a lot of the anxiety out of dealing with large dollar amounts.
That said, I would still recommend trading on a demo account for months if not a year so you can really learn the basics. It took me more than a year on demo accounts to feel comfortable to trade a live account. Stick with it though. Good luck.
Brian
Assuming that you ARE ready to trade live, I’d suggest Oanda. They have no lower limit for how small lot sizes you can trade.
Guys, I also don’t want to run afoul of the forum rules either, but can anyone PM me the info on that free $25 FXCM Micro account? I was going to go Live with them, anyway (am currently demoing with them).
Two questions: Is the $25 FXCM deal good for a UK micro account or is it only for US accounts? and Can I still fund such an account with my own, additional funds?
Thanks!
Really? Adblock takes care of that! 
I never see any ads anymore. My internet experience is nice and tidy.
FXCM micro offers free live account with $25.00 and their offer only for 2 countries. I am not in this criteria. Infact FXCM micro policies about transaction does not capable me to open micro account.
My account is FXCM-Mini with the leverage of 0.25%. My balance was $45 and i traded last week by FA News (NFP) with trailing stop and stop:10 pips limit:none and now my balance is $65.20.
I just opened an account with Oanda eith $50 and I am trading $200 of base currency which is about half of half of a micro lot. So you can start small as long as you trade the appropriate lot size.
FXCM I talked to them the micro $25 is only on their platform with nfa rules. all of their metatrader accounts are UK based but I think that was $2000 to start or was it $200 I dont’ remember now but it was more than I wanted to start with.
Oanda, I don’t like their web based charting, I like metatrader so I use IBFX metatrader demo account to analyse the market, then place my orders on Oanda.
just keep demoing and learning and studying and then you’ll be able to answer that question yourself.
Really only when you can answer that question you should consider going live.
Dont be in a hurry to loose your money - learn to double 3000 demo accounts regularly first - theres plenty to learn before going live with $65 dollars…
that said fxcm is your best bet if you really want too
So do you have big empty spaces here & there where their ad banners would normally be?
I started with an account with FXCM, they gave $25 and it hooked me, I deposited some money and promptly lost it. I demoed for some time and deposited another $100 bucks, it’s up to $800 now, still trading micro single lots. If you MUST trade live then I would go with oanda, I hear nothing but great things about them on this forum but I would really demo trade first before you lose your money.
To those who have recommended Oanda, is that broker bound by the FIFO regulations? Can you trade micro accounts with MT4?
You should really try adblock, of course you have to run Firefox to do it. If you still use IE - switch!!!
This is the start page with Adblock ( hardly remember where the ads are but I guess there should be some here ordinarily):
I believe you could do well to start with a small account for a few reasons and a with a few conditions. I also use oanda with mt4 charting.
The first condition, expectations. Do not expect to turn $65 into anything impressive. Realize that if you turn $65 into $75 you have made 15% increase, base your success by the percentage increase.
The second condition, leverage. Do not over leverage. By using good MM if you are risking 100 pips on a trade your lot size should be about 130 units. you would be making about 1.3 cents per pip. Again, the dollar figure is not impressive but if you lose a trade you dont wipe out your account.
The first benefit is emotions. Demo trading is great and very valuable, but even with very little money emotions come into play. This might be a way to learn your emotions while trading before you invest a large some of money.
The second benefit is that while you are learning you might as well be making a little bit of money with it.
I use oanda and I started trading seriously with $40, within three weeks it has become $46, which is a 15% increase. Again the dollar figure is not impressive but 15% is 15% whether its on $40 not or $100,000 10 years from now.
Good Luck!
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