I am a new trader and I would like to know about forex brokers . Do you have any recommendations? What about forex research?
You should visit babypips.com to learn some basic forex knowledge before trading. Don't spend any penny to the market before you know forex is what.
You should visit babypips.com to learn some basic forex knowledge before trading. Don't spend any penny to the market before you know forex is what.
Sometimes, in order to learn all there is, one has to spend. For example, to see what real trading is all about, you must get a micro account, deposit not more than a 100 bucks and trade 0.01 lot. This will help you more than a demo account would.
Maybe you are right, but I think at first trader must to try himself/herself in demo. And there are a lot of brokers that has demo accounts with no difference in executions of orders and same spread with the real.
Yes, demo is very important. But a new trader should not waste much time there. This is because, even if you are very good and making profit with a demo account, a real account will be different. This is also why some traders fail. Because they feel that since they are winning with a demo account, they can just deposit in a real account and trade as usual. In the end, they hit margin call and that is the end.
However, especially for beginners like me. I think it would be best to continue practicing demo trading until I get to familiarize and understand the tools, the graphs, the numbers and etc. before proceeding to a live trade to practice emotional and discipline, and eventually control them.
I think, nobody can practice emotional control on demo trading, 'cause you use not your own money.
IMO, education of trader with demo account should not last long, maximum - 2-3 months.
A micro account is the best for emotional control training. While using a demo, I always encourage new traders to signup a micro account, where he can trade in cents.
you can try Integerfx, you can do forex trading with minimum deposit of $1 and you have the option of withdrawing minimum $10 to your account. you have MT4 platform to trade currency safely.
Sorry, but I do not understand, what kind can be profit with depo 1 dollar?) Then it's better to trade with demo - I guess there is no difference. Maybe, for testing of strategies it is cool, but I started from 10 bucks and before the real trading I used demo and tested strategies with demo too. So I see no reason to start with 1 dollar IMO