Hi,
I’m trying to find a forex platform that doesn’t have a wealth requirement to open an account. IG wouldnt let me open a live account with them because they said I didnt meet thier wealth requirement. Do you have any recommendations?
Thanks.
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I have heard about forex accounts by the term cent accounts. Maybe you could search cent account forex brokers.
Otherwise if you just want to do demo trading almost every broker and even two of the most popular platforms MetaTrader Mt4 or Mt5 and CTrader offer free demo accounts without signing up for an account.
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This is for professional accounts. I’m fairly sure normal accounts have no such requirement
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Hi, how do you want to earn without cash? what is the point to open live account without cash?
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How much do you want to deposit into your account?
Have you demo traded yet? If not, I suggest you demo with IG while saving up more money and developing your strategy.
@Elessar What do you think?
I think the wealth requirement must be different from the minimum deposit because I hadn’t even got to that point yet. I was looking to start with 10$, I have done demo trading with OG, but they won’t let me open a live account.
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Has anyone heard of Forex4u? Is that a good platform?
Doing a quick google search on $10 deposit, you could try a broker called RoboForex.
They offer a “cent account” with minimum deposit of USD $10.
But please.
Do your own research!!!
If I can do a 30 second search you can do an hour or two comparison search.
Don’t be so lazy!!!
We other forum members are not financial advisors or any experts.
Honestly, I say save your money. $10 is not enough to do any trading with. You’re not gonna turn $10 into $1,000. Trust me.
Save your money and keep demo trading. When you have enough money to trade 0.01 lots then you should trade live. That is, if you’ve traded profitably in demo.
How was your trading going in demo?
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My demo was going pretty good I’m just trying to find a place I can open a live account that will work with me. Thanks!
Oh, minimum deposit will be bigger than $10. You won’t be able to open a trade with that much.
I know people who’ve got around minimum deposits by immediately withdrawing some after depositing, but it’s not worth it here
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I am from UK (as I beieve you are), I have not tried to open an account recently, but having an interest in horseracing, the expected Gov. Gambling Bill has sent shudders through the betting industry and bookmakers are conducting pre-emptive ‘affordability checks’. Perhaps the brokers are behaving the same? Called KYC.
P.S Come to think of it, I have an IG account (for many years) and they recently sent me a form to tick boxes, to make sure they had my details (ie income etc.) correct, so IG always seem to do it.
there are many brokes with a minimum deposit as low as $5 you juest need to look hard enough.
Now there are many brokers with whom you can open small real accounts without any problems. If you are a beginner, it is better to first open a cent account for several tens of dollars and practice there. If trading there is successful and your trading strategy provides positive statistics on profitable transactions, then you can open a real account. Many brokers offer the opportunity to open such an account starting from $100.
Bookies are governed by the relatively inept Gambling Commission. Spreadbetting and brokers come under the FCA thankfully. The affordability checks that are being implemented by bookies shouldn’t affect brokers. Betfair has lost a ton of liquidity recently because of it.
what broker is that? or platfrom that requires a wealth assessment? broker like HFM offer accounts with as low of 5usd? many online brokers do the same… just pick one of them
Try Oanda, they are pretty easy-going. You can also sign up for a Essential subscription at TradingView, and Oanda will credit your trading account with the same amount as a 1-year subscription.