Leveraging and Binary

[Pelummy]

Hello Forex traders. I just want to start out in Forex but I haven’t got more than $10 right now and besides that, can anyone please explain leveraging, I am getting really confused about the subject and it is gradually killing my hope of becoming a Forex trader. Now, back to the $10, things are really tight now , but I am thinking instead of risking $10 in Forex, would it make sense to try to raise it through Binary options? Of course, I will practice a lot demo trading first. Your honest reviews will be very much appreciated. Please, help a junior!

[tradeforex077]

Someone asked about leverage recently, heres the link;

Skinny, Tall Noob

To the Forex gods and FX-MEN here, holla! I present to you a skinny, tall Forex newbie. I just joined the Forex community and have a gone through the School of Pipsology but well, I am still a bit confused. From holy, good land here in Nigeria however, I hope we will get along well and roll some DOUGH! And as we say here, I dey loyal.

I do not recommend binary options. I would not recommend demo trading either. The truth is you do not have enough capital to start trading. The question you need to ask is how much do you need a year to pay all your expenses? Even if you make 100% compounded returns (which in itself is extremely difficult) you’ll only make $10, is that enough?

I’d advise only learning about forex at the moment and getting a second or a third job. I mean doing anything so you can make money to add to your capital. To work on your education you can do the Babypips course. Best of luck.

[jennyscott]

You must not trade Forex or Binary. Can you start a business with $10? People who trade Forex do so to pay some bills. Which business can you start with $10 and be able to pay some bills. Well, if you wanna just have some fun on a Forex or Binary platform, you are welcome to use $10 or a demo account.