Hi!
I am newbie to forex. And experience of 2-3 months on demo accounts. From these demo accounts my profit and loss are 50-50. Now I want to switch to Live account. Can some one suggest me the best online trading platform for my live account. Initially i want to start with 250/- to 500/- USD . Live acount may be mini or regular. So want suggestions from experts.
Thanks in advance
Trading with account that small really limits your choices. You might want to trade with a micro account. Oanda allows you to trade any position size you want but the only downfall is that their charting platform isn’t the greatest and they lack a 4hr chart which is all I trade. :mad:
Topgun
And what about FXCM?
Does any broker support paypal for deposit and withdraw money?
Thanks in advance
If you are only planning on despositing 250 to 500 then you definately want to open a micro account. Opening a mini or standard account with 250 or 500 in capital is definately forex market suicide. It wont last long. I’ve been there and done that. The best micro account broker I have traded with is Oanda. They have no minimum desposit and their spreads are really good. I have read alot of reviews about the spreads going crazy during news time and stopping them out their trades, but I have never had any problems with the spreads. And they do offer withdrawals and deposits via Paypal which is another thing that I like because I use Paypal alot. They do charge a fee though so you need to look into that but its nothing major. The only thing I dont like about Oanda is that they dont offer very high leverages and their platform, to say least, sucks. Their charts suck too but if you want to get free charts that are awesome, then go to Fx Solutions and open up a demo account and download their Fx AccuCharts. Theses charts are awesome. They have everything on them that you will ever need and they are free.
Oh yea and about FXCM, I have heard alot of bad things about them and read alot of bad reviews about them. They have been fined several times before and they are nobody I would trust my money with from everything that I have read. If you want to read traders reviews about forex brokers and other forex related reviews go to forexbastards.com. They have reviews about alot of brokers.
Its better to start with Micro account as topgun also suggested.
If you have your hands set with MT4. You can try STIFX. There execution is good, i can gurantee you in that, cause i am trading with them LIVE with real money.
And they accept deposit via credit card…
Oanda is good as well as TopGun suggested, but sorry havent tried.
I can only comment on the broker i am trading with. And i repeat i am not marketing here. If i am happy with something, i am speaking it out LOUD.!!
Hello all,am new here and i want to fin out which robot can one use coz am using meta4 trade platform,north finance.
i need help also which is the best curriency pairs to trade on.
I know PayPal is a big convenience and those of us doing business on the Internet may use it quite a bit.
However, imho, I would not go near any Forex broker who allows deposits and withdrawals via PayPal.
To me, it just doesn’t look legitimate. I’m not saying PayPal isn’t, and the broker may even be so, but it just doesn’t seem above board for a financial broker to use such payment methods.
There is much talk about making sure that your broker is regulated, and rightfully so. Regulation gives an air of legitimacy and some protection for the clients. That air of legitimacy fades quickly, though, when PayPal is associated with it, imo.
Again, nothing against PayPal. I use them all the time and they’re great.
But, in my mind, it’s a completely different situation to use them for Internet transactions as opposed to financial transactions through a broker.
How many stock brokers use PayPal? Bonds? Futures?
I don’t know of any (feel free to correct me if I’m wrong) so, to me, that says that PayPal is not a payment method that is used by legitimate financial brokers.
If I were you, I’d think twice about using a Forex broker that allows PayPal payments.
Terry
Which “robot” (I’m assuming you mean EA – Expert Advisor) to use depends on what you want to do. Each EA does something different, depending on your system and trading style.
As for best currency pairs, that depends on your personal preferences, as well as your risk tolerance. Some pairs are much more volatile than others and move a lot very quickly. Others are tamer and don’t move as much. It depends on what you’re comfortable with.
My suggestion is to go through Babypip’s school here:
It will give you a good idea of what to expect in various currencies and how to trade them.
Terry
I know PayPal is a big convenience and those of us doing business on the Internet may use it quite a bit.
However, imho, I would not go near any Forex broker who allows deposits and withdrawals via PayPal.
Paypal have banned all autosurfs & hyip from using them.
If paypal even get a hint that a company is a scam they
will look into that company very closly indeed.
Also the problem with banning this type of group is the
negative “press” that it can bring about.
I am quite happy to fund my Oanda account using my paypal,
it is a cheaper option than bank transfer for me at this present
time.
You’re right, PayPal is very vigilant. The problem with scams, though, is that they often don’t come to light until enough complaints are received. By that time, most scammers have disappeared with the money.
I don’t think banning “this type of group” will garner any more negative press than banning all MLM’s did. It’s not like large, powerful Forex traders use PayPal and they’d fight for the right to continue to do so. 
We all know there are many scammers operating as Forex brokers. More important, many people blame their brokers for everything that goes wrong, whether it was the broker’s fault or not. So, several complaints could be reason enough for PayPal to suddenly ban them, as PayPal could consider it more hassle than it’s worth (as they did with MLM’s). This would leave those depending on PayPal in a bit of a bind if that ever happened.
The point I was really trying to make was that the big boys don’t use PayPal. It’s an option for us smaller traders, but not one that most legitimate brokers would use, as shown by the fact that very few brokers offer it.
Terry
Oanda allow paypal use - but only after you have verified the account.
Its so sad to see a post like this, do you actually want to learn how to trade because it seems that you want someone to do it for you… if so hope you wake up out of your daydream and taste the bitter taste of reality, go through babyschool like stated before. I dont know why are you even asking questions about brokers before finishing the school.
I agree completely.
It never ceases to amaze me how many people jump into Forex “trading” without having a clue about the basics.
When I see posts like “I read about Forex last week and am trading a live account. What broker is best? How do I use the indicators? What pairs should I be trading and what timeframe?”, I feel like giving them my bank account info so they can just deposit it directly instead of throwing it away in the market.
It’s the same mentality that people use when buying a computer for the first time. “This looked cool in the store and the salesman said it’s the latest one. Can someone show me how to use it?”
Please, people, use some common sense. Read through the Babypips School FIRST. Learn the basics. Then ask questions in the forums. If you have so much money to throw away that you can open a live account without knowing what you’re doing, you’d be better off to just burn your cash in the fireplace. It’s a lot less frustrating.
And, for Pete’s sake, use the forum’s Search feature. It’s on the dark green bar at the top of every page.
There’s nothing more annoying than having someone ask the same question for the 500th time because they’re too lazy to take a couple of minutes and search for the answer.
We’re here to help you, not to do it for you.
If you’re not willing to spend the time to actually look for the information you need, then you’ll never be successful trading Forex. You need to know why things are happening in the market, not just what to do when something happens.
Learn to earn.
Terry
To In2blues (I like your avatar! ) and to Pipraider :
Yep, you are correct. I have been here a little longer and I have seen so many of these type of posts that I hardly bother to respond to them any more. Every now and then you see a genuine post of enquiry.
These people will learn the hard way - and there is no telling them.
I have learnt the following :
[B]Diligent research to answer one’s own questions is a mandatory requirement for success in the forex market.[/B]
Hmm, a couple of thoughts.
I think that the main problem here is rooted in the belief that Forex trading is a get rich quick scheme. This is borne out by the number of unscrupulous entrepreneurs on the net, wanting to profit from info-hungry speculators with a $100 bucks or two to blow on-line. Given this scenario, can one really be surprised at the folk who pitch up and ask nearly relevant questions without reading the Baby Pips school first!
I also think that brokers who hand out accounts with ridiculous leverage to new traders should also be taken to task. This style of ‘brokering’ in itself implies that you can trade full standard lot(s) with $500 deposited margin and succeed, when we all know this is not exactly feasible.
Maybe I should start selling forex products…I bet a lot of people would buy a product called the “ultimate indicator” packaged with 2 dice and a manual, works on all pairs and on all time frames, its foolproof and it does not require any learning what so ever
*Instructions *
roll the “special forex dice” and add the number, if the number of both dice is equal to or more then 9 - buy signal
if the numbers of both dice equals to 6-8 - hold
if its less then 5 its a clear sell signal
I prefer easy-forex.You can get 1 to1 technical support.Accept Credit Card and PayPal.No software download.
Here is review of www.easy-forex.com
ROFLMAO! Thats a get rich quick sceme that would work!
Dear, Oanda users, while I have you here, many people mentioned that they use it, I seriously like thei services, I have a demo account right now and my connection is not so great.
Question, if you day trade, how many times per day Oanda platform looses connection? or is it not so bad?
Thanks in advance.