How do you get into forex trading? -

Forex trading is very popular, but if you are new to trading I must warn you: The Forex markets are extremely volatile, and you can easily make (or lose) thousands of dollars in a day. Many Forex brokers offer quot;free quotes and chartsquot; and quot;no commissionsquot;, but keep in mind that nothing is for free: You are paying a spread, i.e. you can NOT buy a currency and immediately sell it for the same amount. It s like at the exchange booths that you know from your holidays: You exchange $100 into 80 Euro, but when you change the 80 Euro back into dollars, you only receive $96. Same when trading Forex: You are paying at least 2 quot;pipsquot;. This amounts approx. $20, depending on the currency pair you re trading. Another disadvantage of Forex trading is that you are NOT trading at an exchange: There is no quot;Foreign Exchangequot;. You are trading against your broker: If you are selling, then your broker is buying from you and vice versa. And that s why your broker is giving you the quotes for free: He can basically give you *any* quote since there are no regulations. Scary, isn t it? So basically I support kzajko s answer: Don t. If you really want to trade currencies, consider trading currency futures. First of all you make $12.50 per pip (instead of approx. $10 in the Forex market), it is regulated and you get good margin rates, too. Don t fall for quot;no commissionsquot; and quot;free quotesquot;. It s a sales gag! Hope that helps. you can search engine in google.com www.moneymallfutures.com www.financeroll.com ect Hi, I could introduce you to one of forex broker leaders that is located in SWITZERLAND and Regulated by the Swiss Federal Department of Finance; audited by KPMG. I m thading with them and I m rally very happy. They have very tight spreads. Total 25 currency pairs Gold and Silver. SPREADS: 2 pips for EURUSD, USDJPY, AUDUSD, EURGBP, EURCHF; 3 pips for GBPUSD, USDCHF, USDCAD, EURJPY; 4 pips for CADJPY, CHFJPY; 5 pips for NZDUSD, AUDJPY; 6 pips for EURAUD, GBPCHF, NZDJPY; 7 pips for EURCAD, GBPJPY; 8 pips for GBPCAD, GBPAUD, AUDCHF, CADCHF, NZDCHF; 10 pips for AUDCAD, AUDNZD. LEVERAGE 1:200 default but client could chose the leverage from 1:1 to 1:200 at the account opening procedure. MARGINS. The margin or leverage a client can have depends on the client s account equity. The table below shows margin requirements for the different equity levels: Less than 25,000 - 0.5% 25,000 to 1,000,000 - 1% 1,000,000 to 5,000,000 - 2% 5,000,000 to 10,000,000 - 3% Above 10,000,000 - 5% Please note that on weekends and holidays margin requirements remains the same. SWAPS are counted as negative as positive. Also is available swap-free accounts. STOP and LIMIT orders may be placed as close as 5 pips from market price TRADING TERMINAL Meta Trader 4. Clients can choose to have their accounts denominated in either USD, EUR, GBP, JPY, CHF, AUD or CAD. Initial account opening deposit from US$2000. From first view it probably looks high comparing with other brokers who allow mini accounts and minimum initial deposit from USD250 but it is more useful and safer because clients are more protected from quick stop out and total loss of the initial deposit in the case if unfortunately it would be several unlucky trades in rage. This is regular forex trading account however it is allowed trading in mini lots (from 0.1 lot). If you are interesting I could introduce you to them please e-mail or PM me (press on my name) and I provide you with further information. Furthermore I could provide you for FREE with more than 50 trading e-books and trading systems that worth more than several thousand dollars and are very useful as for beginners as for experienced traders. Good luck! You better do not. I am serious. Its high laverage trading and just 5-10% can survive. You probably receive some suggestion about online services and how to start it but my advice is forget about it. If you like trading focus on stocks. With bull market now you can make money there. 2 Options: 1. Get training before you even do it. Check out www.investools.com for one option. 2. Forget it and try to trade several of the currency-related ETFs if you have any technical trading experience. You can research these at www.amex.com I believe or try to Google Currency ETFs Good Luck