Hi people!
Thanks for all the info & knowledge you share on great Babypips!
I’m spending every spare minute reading your every single word and after a couple of months maybe I’m starting to understand what forex really IS.
Kinda dumb uh?
Some threads ago I red one of the FX honorary members recommending trading with a US broker to a canadian newbie.
Would this apply to an EU trader like me too?
Is there any risk of difficulties in deposit, withdrawal, contacts etc?
Another little question: what’s the mean time for a withdrawal? A week? A month?
Thanks in advance for you patience!
You’ll only start to understand when you’ll trade for real :). Open an account with brokers which accept deposit by credit card or paypal like Oanda, Exness , etc. which does accept very small account size but still offer tight spread.
Thanks a lot forexgenuine!
I’m on a demo account on exness and have a good feeling with them and the MT4 platform. But I’m still too afraid of the market to put some real money in forex. Especially after I red in the school of pips that being undercapitalized is the best way to wipe off your account…
Capitalisation is relative. Contrary to futures market, the advantage of forex is you can choose the size of your position and leverage. On oanda you can even bet 1 cent :). On others you can trade 0.1 lot I think. Rules of thumb is you shouldn’t risk more than 1 or 2% of your capital on each trade.
That’s the very basic you should understand. If you do not understand that you’d better not trade at all because for sure you’ll blow out your account whatever its size !
I advise you start with Oanda rather as it is the most flexible from that viewpoint.
you can also open a real account with Marketiva which offer 5$ of free funding (sure you won’t get rich or excited :)).
Well, 5$ is always better than an a$$kick!
I must learn to consider every buck with respect you teach me, in order to be a successful trainer. Especially thinkin about some people making a living for a week out of 5$ in some countries.
So thanks a lot for your advices!
Warning!!! Do not use credit card with oanda! Your credit card company will consider it a cash advance!
Forex Leverage Limit 50:1 - Will US Traders Run Away? | Forex Crunch
Unless you have deep pockets, a US broker might not be for you.
Lucky me I did not use my credit with OANDA.
Unlucky me, I don’t know what a “cash advance” is!