Suggestions on best broker for microtrading

Hey all, I am new here…greetings.

I was just wondering if you all might have some suggestions for me as to what would be a good broker to use. I am just getting in to this, I have been studying and am ready to start trading on a “play money” account to practice.

To the point, my goal is to surpass Bill Gates in net worth within the year…KIDDING.

Actually my question is kinda two fold…software and broker

I have only about $500 to start trading with (after practicing on a demo account for a couple of months) so I am thinking I need to trade micro lots.

I like dealbook, but not sure I like GFT (I think dealbook is only for GFT traders?..)—I don’t like the fact that GFT is not a direct trade.

Not sure I like Metatrader–couldn’t figure out how to get a short and a long moving average or an exponential moving average. What are the software alternatives…hopefully free? What would be a good broker to begin to trade micro lots for someone with only $500 to risk?

OK. sorry about the longwind…

suggestions? thanks to all in advance

God bless all.


Stay with Demo until your profiting 3 months straight. Alright?

MT4 is one of the best if not, the best platform, I would say it’s a top 3 platform. You should know MT$ like the back of your hand before trading live, or ANY platform for that matter.

I recommend MB Trading, TOS, Oanda.

You shouldn’t have a problem opening a $100-250 account with Oanda and you can trade fractional micro lots at like a pip value of $0.01 or one cent if you’d like, so, you won’t lose your money.

But yeah, I recommend you learn more about the business because, like I said, you’ll get squased and only having $500, you really need to have an edge before you come into this game.

With an edge, and the experience, and the consistency, you could take a $500 account to whatever number you desire.

But, being unprepared, you will lose that capital and then you won’t have anything to trade with, so, trade small.

Take care.

Thank you for the very sound advice.

I don’t know where you are from but I use GFT in Australia.

I have only good things to say about GFT and their service. :slight_smile: :slight_smile:

Dealbook is the best charting program in the business. :wink:

As a veteran trader who has been on this forum longer than most I can tell you that many traders on this forum use GFT.

([B]savedbygrace7777 [/B]: There a several of us who like you, qualify for that title!!! :slight_smile: )