Easy-Forex-Trading.org » Forex Account

What is the minimum investment to start an account in forex trading?

Eric — Mon, 06 Sep 2010 20:18:28 +0000

It depends on the broker. With some brokers you can even have a cents account (though I personally do not believein such trading). Search for a broker that best suits your trading preferences and ask them their minimum amount requirement.

how can i find a reliable forex account manager?

Eric — Thu, 01 Jul 2010 23:21:45 +0000

As a student, i have $100 to invest and i’ll like to know what the interest rate is like.

I am confused by the question.
Forex has to do with Foreign Exchange of currency. You invest in Forex in order to make money on the changed in exchange rate between two currencies. Typically it is highly speculative and only for people who can afford to lose a lot of money.

Interest rate is the money that you earn when you save money, either in a savings account or buying bonds. This type of investment does not earn a lot of money, but the risks are very low.
Different countries with different currencies may have different interest rates but again, once you go into foreign currencies, the risk of losses really goes up.

As a student, I think you should save your money in your home currency and in a reliable savings account initially; once you have saved enough to live on for several months, in case of emergency, than you can start to invest in other means.

how much funds should a beginner start a forex account with ?

Eric — Wed, 16 Jun 2010 04:41:36 +0000

If you are a beginner, you have no business investing in Forex. This is a volatile type of investment, as are all commodity investments, and you can easily lose everything you own.

Your best bet would be to invest in shares of closed funds or in mutual funds that trade in Forex. That way, you get someone experienced doing the trading, while you can relax.

This is no guarantee that you will make money, but you stand a much better chance letting someone who lives and breathes the market everyday manage your money, than you could possibly stand on your own. You would only need to make one big mistake to undo years worth of gains.

Get professional help. It will be worth the small amount of commissions you lose.

By professional help, I don’t mean you get a Forex broker to help you make trades. Buy into a professionally-managed fund!

How much leverage can you get with a standard forex account?

Eric — Wed, 12 May 2010 20:43:35 +0000

It depends on the broker, but usually is up to 200:1.

What’s the leverage on a standard forex account?

Eric — Sun, 09 May 2010 16:05:24 +0000

Great question Jason. Many people want to know the answer to this so here it is.

The truth is all brokers change with the specifics but the common levels of leverage are from 100 – 500.

This means that most brokers will at least let you leverage 1:100 and some will even go up to 1:500. In my trading experience I have found that the average broker will let you leverage 1:200.

Hope this helps! If you need any more tips just contact me.

Do I report my capital gains from my Forex account?

Eric — Fri, 07 May 2010 02:12:04 +0000

Hi,

I live in Canada and I have a Forex broker (for trading currency) in Australia and I had gains (about $300) last year from a few trades. My question is am I suppose to report these on my tax return?

When I opened my broker account the only thing they asked me provide was my ID and address no SIN number or tax identification number so I’m just wondering.

Forex trade income is business income, reportable on line 130 of your T1 return.

You are taxed as a Canadian resident on your world income.

how much money do you need to open a standard trading forex account?

Eric — Thu, 29 Apr 2010 20:30:31 +0000

depends on the broker really but most these days require at least $200 to open an account. here is one site that would lead you to a leading forex broker which requires the following standard deposits- mini $200, gold $500, platinum $1K and vip $10K. of course, the benefits and trading features vary and becomes better if you open a higher level of trading account. one very good feature they have is that once you open an account, a dedicated personal account service manager or asm will be assigned to you to assist you in your trading needs and act as your mentor and consultant as necessary. discussions can be done live via phone, email, chat or even personal meeting if you happen to reside near any of its regional offices in the usa, canada, uk, europe, australia, middle east or asia. all the best.

What is the best forex broker who has cent account with 1:500 leverage, allowing hedging, and 10,000 lot size?

Eric — Fri, 09 Apr 2010 21:38:26 +0000

I’m looking for a Forex broker who provide cent accounts with the following features:
1- hedging on same currency should be possible
2- Leverage is 1:400 or 1:500
3- Lot size can go up to 10,000
4- reputable in trading and withdrawal of funds

Thanks

try www.gomarketsaus.com, they’re very good

Is it possible to invest long term on the forex market with a margin account?

Eric — Fri, 02 Apr 2010 18:37:37 +0000

Is it possible to invest long term on the forex market with a margin account ? Like can I trade a currency against another and hold it for a few months ? Thanks

There is nothing prohibiting you from doing so.

Is it possible for you to hold through several hundred points against you? If you’re highly leveraged, you’ll be ruined first. Be sure to use stops.

is there a practice account for forex where you can choose the amount you want to start with?

Eric — Tue, 30 Mar 2010 18:29:30 +0000

Hey,

There are many brokers which provide demo accounts so that newbies can practice forex and can gain experience like Finexo.com, avafx.com, instaforex.com, saxo bank, forexwebtrader.com, btrader.com etc.