Hello everyone, first off I just want to say how awesome BabyPips is and what a great community you guys have here. I’ve been reading the forums for a while but this is my first time posting.
I’ve been successfully trading demo for about a week now and think I am ready to open a live account to at least gain some more experience and take it to the next level. In the BabyPips school it states that the number one reason why new Forex traders fail is because they fail to open an account with enough funds to allow for enough margin and leverage.
I’m considering opening a mini account with GFT Forex with $1000 and they offer a 400:1 leverage. My question is, is this a smart move or am I jumping the gun and need to wait and open an account with more funds?