You didn't say how experienced you are. But judging by your post I'm going to presume that you are a beginner with little or no experience at all. So with that I'll recommend www.questrade.com. However if you have a bit of experience but want to learn more, then check out www.forexsites.com, good luck to you with this. I trade daily and have for years, and have done quite well with it all in all.
Some make money, some don't, plus it is an extremely slow way to build wealth. Starting a small business through blogging is a better way to gain wealth.
Diversifying is a better way to gain wealth. Forex trading, investing in the stock market, small business and real estate. But if you are fearful by nature, then by all means just stick to your small business through blogging. P.S. You're 16 years old, just how much experience do you think you have? I doubt very much at all, especially in the world of Forex trading.
Dear, there are thousands of brokers in Cyprus. What do you prefer...broker in your home country, an offshore broker or other broker, regulation within EU and being regulated by MiFID?!
When it comes to forex, my own experience is with robots, which I imagine is where most beginners start (is this your plan?). I've been using robots for over 3 years (occasionally tweaking the recommended settings to suit my own attitude to risks), and while I go with those most highly recommended and read a lot of reviews and articles to inform my choice, I have only ever broken even. Typically robots seem to do very well for a few months, I think I'm onto a winner, then a few bad trades wipe out all the profit. As others have said, there are more reliable ways to make money, and forex should be something you do with money you can spare while seeking to make a reliable income elsewhere. It's not entirely a gamble if you know what you're doing, as there is room for improving your chances through education/experience/skill when trading manually, but it's certainly high risk. At 16 I wouldn't personally be considering it.
@LFG, could you please share with us some robots?! I've been trading for 6-7 years but manually. Now, I am looking to test some robots because I have not traded with such till now! Perhaps, it's all about psychology.
I am currently using forex megadroid and another, the name of which escapes me... wouldn't particularly recommend either. How has manual trading been for you?
I am satisfied with my brokers' services. I can always recommend a broker who is reputable, liquid, regulated and so on...but I must know something like what type of broker do you prefer ( ECN, STP, Market-maker ), spreads, commissions etc. As for robots, @LFG , how is the megadroid dealing with the markets?! Are you satisfied?!
As above, it makes good gains, then has a few bad days and looses the ground. There's still more money in the account than I started with, but its been up to nearly 700% up and is now down to about 20% up in 3 years+. Satisfied, but I won't be retiring on it.
No! You cannot retire just by trading forex except if you are an account manager eagerly calling clients to convince them to open an account with you.
I have zero XP. When i turn 18 ill dip my feet in the water but anyone could agree starting a small business is a faster way to build wealth. Plus you don't have to depend on something you can't control.
@Dionne Taylor , you are quite right! Market cannot be controlled BUT it can be analized and forecasted. But from my point of view, you must be really experienced. In the very beginning, I had a luck with a $5 no-deposit bonus and that was the starting point of my education as a trader So, you must be lucky one, of course!
I might have to check those sites out myself. I have no experience, but have been starting to do research on the forex market before I jump in and start trading.
Really....and just how do you know this junior? You shouldn't come on here and make statements about something you know nothing about. And at 16 years of age you don't, right? My advice to you would be to try and learn, not teach.
You are right, I don't know much about it but I do know they are a lot of scams out there. Watch King Human's videos on youtube and he will set you straight.