Forex Account Knowledge Base
Managed Forex Account too good to be true ? I came accross a Managed Forex Account (FX Funds Group) that shows a past return of 80% for 2008!. This just looks too good to be true, even with 35% fees. Does anyone have experience with such funds ?
What is a virtual forex account? I'm ignorant about forex. I've just seen these as an ads from a certain website where I can open a free virtual forex account. Anybody who can explain what is it all about?
Do I report my capital gains from my Forex account? Hi, I live in Canada and I have a Forex broker (for trading currency) in Australia and I had gains (about $300) last year from a few trades. My question is am I suppose to report these on my tax return? When I opened my broker account the only thing they asked me provide was my ID and address no SIN number or tax identification number so I'm just wondering.
What is the ideal capital to open a mini forex account? I plan to open a mini account with USD800. what leverage should i use? do i have the right to choose the leverage i want? i plan to start small....1:2 or 1:3. i had played a demo account for 2 months. Current P/L is USD866.91 with USD3000 account. But i'm not sure what leverage i'm using. i need to know wether i can choose the type of leverage each time i go trading.
what is the lowest leverage for mini forex account? i plan to open a mini account with USD 800. i plan to gain 15 pips in a day but i don't want to use a very high leverage due to its high risk. what is the lowest leverage offered in mini account? from which broker?
What are the costs of having a Forex.com account? I am trying to open a Forex.com account, and I was wondering what is the monthly cost and / or cost pero transaction. Is it posible to buy a certain amount foreing currency and hold it for over a month until I consider is the right time to sell it? or is there a limited time to trade? Thanks
Which is the best Forex services account ? I wanna trade in currencies...and there are so many Forex account sites on the net that the choice becomes difficult for a guy like me who has so far NEVER traded in currencies, especially in Euros and $$$...
opening a forex account? I am planning to open a forex account with oneworld. I am a little nervous, just wire them 10,000? They are in New York and have been in biz for 5 years but since this is new to me... I have no resevations sending money to Scottrade but well since this is new I am uncomfortable. Just need reassurance that people 'do this all the time' and it is not some sort of scam.
How to buy USD and sell EUR in FOREX, while the account is in USD?!!? If USD is going up against EUR, then you choose to Sell EUR -- Buy USD... How this is possible while your account is in USD?!!! How can you buy USD with USD or Sell EUR while all you have is in USD?!!! Please clarify to me as I don't want to enter FOREX before understanding it properly... Thanks
Delay in canceling membership for forex account? Hi again, thank you for your help for all my previous questions. I did read them through and did not listen to some of them.:(( therefore, i have another question. I signed up for 3 day trial with forex auto money. after a few minutes i cancel it and i still haven't got a confirmation. Do you think they are going to charge me for the next billing period eventhough I have done my part? I hope not. If they do that,what can i do? thanks in advance
Opening a forex account with Oanda? I live in Pakistan, I want my desi traders to help me with this issue. What bank are you using to wire transfer funds to Oanda? I tried Standard Chartered Bank, but they want an NTN (National Tax Number) to do wire transfer to a company.
Has anyone opened a real live FOREX account? I am currently placing trades on a demo account that has gone up from the virtual $50,000 to $107,739.00 in a little over a week. Are the demo or practice account set up to make more profit to convince someone that it works or are they just like the real account only I'm placing trades on virtual money?
minimum Initial investment for forex in micro account? I want to start using forex (i have trained a lot on simulators), but now i would like to have a go at the real market. I know you can open micro accounts for as little as $50, but what do you think is the minimum amount of money you should put into your first micro account for some good training/practice, and maybe even some profit.
Why do forex brokers give away money when opening an account? Hi Guys, I just opened a micro account with an online forex broker, and they give away 100% of your initial deposit when opening a micro account. I just found this suspicious and wanted to know if this is normal, and why brokers would do this? Thanks in advance! Would this mean that i have to pay back these US$300, or are they "mine" and i pay them back through the spreads by trading?
Forex Demo Account to LIVE Account conversion rates.? I am a part of a small online Forex brokerage firm and we have DEMO Account to LIVE Forex Account conversion rate of nearly 9%. I am wondering if this rate is on par with that of other Forex Online Brokers. I would appreciate your answer,
Is there a way to protect my forex account cash against a weaker dollar? What can i do to protect my Forex account cash encase the dollar collapses? Without taking the cash out in buying gold is what i meant ofcourse. Can't i just open a 0 leverage account and open a position in another currency or gold? But then i would have to worry about margin calls if I open a position which is 90 percent of my account, right?
Looking for reputable forex broker for micro account? I'm looking for a few forex brokers that offer micro or custom accounts that are reputable. Low deposits and good spreads. Please let me know if you have personally used any and what your thoughts are regarding them. Thanks.
Can my Forex trader withdraw my account balance? If i opened a micro Forex account on a broker site and give my trader the "trader password" to trade for me, can my Forex trader withdraw my own money without I know? I use this broker HotForex.com
Am I ready for a live forex account? I've been collecting approximately 600 pips per month on a demo account? Should I practice beyond the 6 months I've been doing this or more to a live account?
How to open forex trading account from Pakistan? Hi I live in Pakistan. None of the banks here allow bank transfer to foreign forex brokers abroad. They say that only Customer to Customer Account wire transfer is allowed and that I cannot transfer or receive money Business to Customer or Customer to Business. Is there any way that I can transfer money and open forex trading account from which I am able to withdraw as well to my bank account?
I wanna open a Forex account on a site but....? This site says Credit Card required with logos of MasterCard, Visa and WireTransfer. But I cut my Credit Card off and got A Debit Card with logo MasterCard, Does that work? Can I open a forex account?
how is demo and live forex account different to each other? Hi, basically the title says everything. It's just that I have read a few articles that mention that live forex accounts are different to demo accounts so please could someone explain how and why are they different? I mean if the prices are the same, they are moving the same, why the result is different? It just makes no sense. Cheers