1. We strongly encourage you to try different demo softwares, so you will get familiar to the Broker system, the pips, the trends and the amount of money that you can earn.
2. After you have tried different demo softwares, you want to choose the one that is easier for you to manage. And that is not all, we also encourage you to work with a Broker that doesn't collect a commission if you lost money. If you want to trade currencies then you would be shocked by the amount of money that can be lost by trade commissions alone.
3. Nevertheless, if you want to really get experienced and don't care about trade commissions as long as they are the lowest, we encourage you to try eToro - Forex Trading
4. Finally, keep in mind that all brokers do something to keep their customers and clients. So, if you ever happen to feel that there are better brokers than yours, we suggest to find another one that fits better your needs. Once again, we recommend to use eToro - Forex Trading
Hi,
ReplyDeleteI suggested your site on Facebook, and I received comments regarding the basics of Forex, and this is what I posted:
"Look, the site I suggested means the tactic of subscribe to a Forex System that gives you the Forex signals. Forex signals means, for example, the advise of to buy euros against yens, or dollars agains pounds, etc. etc. The advise is given by a computer that makes the analysis of the market and predicts the future movement of the currencies exchange.
"For example, let's say you invest 50 dollars. The broker will give you a leverage of your choice, let's say you choose a 1:100 leverage (there are also leverages of 1:200 and 1:400), that means that your invest is 50 x 100 = 5000 dollars. If you move the invest buying euros against yens, well, let's say you can buy 4000 euros with your 5000 dollars. Those 4,000 euros may increase thier value against the yen; if you bought the euros when the euro was 200 yens worth, and one day after the euro values 210 yens, then than means you have won 40,000.00 yens (10 yens x 4,000). Based on our example that a euro is 210 yens now, that means you have won 190 euros (40,000.00 / 210 = 190.47 euros).
"That was an easy example. Most of the cases the currency movements are based on pips. ¿What is a pipe? Let's see, let's suppose a euro is 1.200 US Dollars worth. If the euro increases its value, that means the euro worths 1.201 US Dollars now. That .001 cent may not be significant, but if you multiply it by 5,000 that means you are earning much more for pipe. And that's what a pipe means: the spread of the movement that may increase or decrease the value of the currency. The pipe may value a .001 cent like the example of this paragraph. But normally the pips have a larger spread.
"I suggest to try the demo before you invest anything, that would make you more familiar to the market. I think the blog I mentioned suggests a demo or two."