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Answer by Jim
When I was getting into FX, I found a ton of companies to trade with, heck the marketing guys still call me. I am pretty sure that you need a minimum of $ 100.00 to trade. Do a search for the mini’s. That allows you to trade smaller dollar amount with more leverage. Be careful, I think its a scam.

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How ever, after two weeks, the EUR/USD is 13670/71
Now, i will sell currency at this price. Obviously the broker will charge spread and i will make some good profits.

In other words, during the period, i did only two trade orders, and the borker will charge me twice only (for one buy and one sell).
Am i correct?
One more question, is it ok if i don’t trade much (just wait for big high and low)?
Will the broker charge me any extra for that?
Thank you for help
Assume that i open a trade and i kept it open for two weeks, then i closed it.
will the broker charge me?
To alexi:

So, i understand from you that holding my position for more than one day means that i will either pay or recieve interest rate in my account.

Can you tell me around how much is the interest rate?

Best answer:

Answer by msc
A spread is charged once, when you open a trade, or when you close it.

Also, if you hold a position open past a certain time of day, usually 5pm New York time, the broker will either charge you a little bit of interest, or pay you a little bit, depending on what currency you’re trading. This is tiny compared to the daily movement of the currency.

If you don’t have any trades open, there are no charges. But some brokers might have an inactivity fee (ask them, and if they do, find a different broker).

Be sure to open a free demo account at the broker of your choice, so you can become familiar with the software, and with trading. Demo accounts are usually very accurate, except that they don’t prepare you for the emotions (fear and greed).

Edit: Yes, if you have a trade open for a week or two, you’ll probably pay about a pip per day, depending on the currency. But that’s small compared to the market movement.

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Answer by Michael
It is just short for foreign exchange.

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Answer by Joe
Playing Forex can appear alluring, but the majority of people who try it lose money. All you have to do is do a web search on the words “Forex” and “lose” to see this is the consensus.

Forex is similar to what we call a “zero sum” game. You are making a bet with someone else about whether a currency will rise or fall. For every winner there has to be a loser. The net winnings of everyone combined equals zero. If you are smarter than the average player, you may make money. If you are dumber than the average player, you are likely to lose money. Most of the people making the “bets” in Forex are highly trained professionals at banks and other institutions. You are unlikely to beat them at this game.

Actually Forex is not quite a zero sum game. It’s a slightly negative sum game as the Forex broker takes a small percentage each time in the spread. It’s a small amount but over a hundred trades, it ends up being a considerable amount of money. So the average player is likely to lose money, and remember the average player is a highly trained professional and probably smarter than you.

There is a lot of luck in Forex, and if you play it, you will have some periods of time where you make money. This is usually because you are having a lucky streak, not because you have suddenly become an expert Forex player. However, most people are unwilling to admit their success is due to luck. They become convinced they have a system that works, and lose a lot of money trying to refine it.

Further complicating the problem is the large number of Forex scams on the internet. Most Forex websites are of questionable honesty. You will find many people on the Internet that claim they made a lot of money using Forex. They are usually liars trying to make money. They will say: “Go to Forexcrap,com/q2347.” The “q2347″ is a signal to the Forexcrap site that you are being referred to them by “q2347.” If they sell something to you, “q2347″ gets a kickback. These coded signals can be hidden by different methods in the link. Other people will refer you to their own private website or blog for the purpose of trying to get money off you. Also there are a good number of trolls out there that like to pretend they are successful forex traders just for the fun of it.

I would recommend not trying to do Forex at all, unless you are a trained professional. It’s like playing poker with people better than you, with the house constantly taking a small percentage from the pot.

Read the warnings in the links below:

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Answer by Common Sense
The answer is yes. However the liquidity on many bonds is very low. If you don’t know what you’re doing…. you’ll get totally screwed. (The same problem exists with many FX and futures during many times of a 24 hour period…. perhaps not as bad for some).

Learn something easier for the first 3-5 years… Stocks will give you trading experience without the higher risk of Bonds, Forex & Commodities (Futures). Bonds can also be traded via many ETF’s.

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Answer by nithya
YES U CAN…

For more details contact
srilogasen@gmail.com

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Is this a common practice? Should anyone trading forex be worried about anything other than the insane amount of risk already involved?

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Answer by Alex J
No, forex trading itself is not a scam. It is very risky, and yes trading companies do often take out opposing bets to their customers as this is their way or limiting risk, but it is not a scam. If you are right you still should get the correct amount according to your bet, regardless of what the trading company do.

However, there may be some rogue companies. To avoid this always register with well known, reputable companies. The smaller the company the less reliable they are. http://www.trading-deals.com offers great deals for new sign ups to big, well known, and reliable companies.

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Answer by Greggy
you can try FX1 academy..i think it’s the only one with physical location in Penang. it’s located at Jalan Imigresen(behind Heritage Hotel 1926). They do provide Free Forex Class..it’s kinda like a preview. I heard they offer 6 months money back guarantee if u lose even a single sen trading using your demo account…..u can visit their Malaysia website at www.fx1.com.my.

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Best answer:

Answer by tom bailey
It is a form of investing with risk to make money it is best to have money to start off with.

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