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which forex site is best for trading

Discussion in 'General Business' started by olindasaqura, Aug 20, 2013.

  1. #1
    I am planning for currency trading which site is best to start with
    olindasaqura, Aug 20, 2013 IP
  2. Spoiltdiva

    Spoiltdiva Notable Member

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    #2
    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.
    Spoiltdiva, Aug 23, 2013 IP
  3. Dionne Taylor

    Dionne Taylor Active Member

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    #3
    Don't use those sites. It is a pure gamble, it is not an investment.
    Dionne Taylor, Aug 23, 2013 IP
  4. superrichguy

    superrichguy Well-Known Member

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    #4
    The stock market is a gamble and billions of people do it...
    superrichguy, Aug 23, 2013 IP
  5. Dionne Taylor

    Dionne Taylor Active Member

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    #5
    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.
    Dionne Taylor, Aug 24, 2013 IP
  6. Spoiltdiva

    Spoiltdiva Notable Member

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    #6
    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.:rolleyes:
    Last edited: Aug 24, 2013
    Spoiltdiva, Aug 24, 2013 IP
    malky66 likes this.
  7. ruseneca

    ruseneca Member

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    #7
    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?!
    ruseneca, Aug 24, 2013 IP
  8. wisdomtool

    wisdomtool Moderator Staff

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    #8
    I used fxdd, extremely great experiences with them
    wisdomtool, Aug 24, 2013 IP
  9. LFG

    LFG Active Member

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    #9
    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, Aug 24, 2013 IP
    Spoiltdiva and malky66 like this.
  10. ruseneca

    ruseneca Member

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    #10
    @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.
    ruseneca, Aug 24, 2013 IP
  11. LFG

    LFG Active Member

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    #11
    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?
    LFG, Aug 24, 2013 IP
  12. ruseneca

    ruseneca Member

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    #12
    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?!
    ruseneca, Aug 24, 2013 IP
  13. LFG

    LFG Active Member

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    #13
    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.
    LFG, Aug 24, 2013 IP
  14. ruseneca

    ruseneca Member

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    #14
    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.
    ruseneca, Aug 24, 2013 IP
  15. Dionne Taylor

    Dionne Taylor Active Member

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    #15
    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, Aug 24, 2013 IP
  16. ruseneca

    ruseneca Member

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    #16
    @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!
    ruseneca, Aug 24, 2013 IP
  17. Mike Carroll

    Mike Carroll Greenhorn

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    #17
    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.
    Mike Carroll, Aug 24, 2013 IP
  18. Dionne Taylor

    Dionne Taylor Active Member

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    #18
    Don't most of those are scam just a warning.
    Dionne Taylor, Aug 24, 2013 IP
  19. Spoiltdiva

    Spoiltdiva Notable Member

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    #19
    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.;)
    Spoiltdiva, Aug 24, 2013 IP
  20. Dionne Taylor

    Dionne Taylor Active Member

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    #20
    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.
    Dionne Taylor, Aug 24, 2013 IP