I’m looking to get into forex trading, of course first practicing with a practice account first for a while. What’s a good site where I could start with practicing and would later on have no commission trades and tight spreads? Preferably, a site that allows microlots would be great. Any suggestions? Thanks.
My husband and I are working with FXCM. I don’t have enough posts yet to give you the link, but if you google, “FXCM,” you’ll find it.
You can start with a demo account (highly recommended), and move up to a micro account or regular account when you feel ready. I’ve just moved from demo to live trading on the micro account for 10 cents per pip. Their spread is decent, [I]except during the news[/I], when it can double or triple without warning, even during the midst of a trade. I don’t know whether other Forex sites do the same or not.
Some on the “1,500 pips per month” thread ([I]excellent[/I] thread, I highly recommend it) say that the volume on FXCM is not as reliable as some of the other platforms. Go Trader is apparently very good, but in the US, you can’t get a live account, only a demo. Some folks use one platform for trading, but have a demo account with another one just to get an additional view of the volume while they’re trading.
Something else to consider is whether you want to do any mobile trading. Some of the companies have apps for your iPhone or Android. I use the Trade Interceptor iPhone app (they have for iPad, too), which can tie into your FXCM account. I use it strictly for demo/practice, don’t know if I’d trust it for live trading, as it can be a little buggy.
Whatever site you decide to go with, good luck!
jeckvishva
Are you planning to scalp? :rolleyes: