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 $500 to risk?
Stay with Demo until your profiting 3 months straight. Alright?
MT4 is one of the best if not, the best platform, I would say it’s a top 3 platform. You should know MT$ 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.
