Profit Guide to Forex
Forex Profit Systems

Is iforex good option to buy forex account?

i want to open forex account for trading forex, is iforex reliable firm

Public Comments

1. Be very very careful. You could lose your shirt on trading forex.

2. Trading in foreign exchange has been introduced for Exporter-Importer and Banks.

Individuals should resist temptation

You are not clear in your question. "Buying forex account" needs clarification

3. I haven't heard of iforex. There are several criteria you should use to evaluate them, including:

* Check to see if they are regulated.
* Check to see if they are highly capitalized (brokers with a high amount of operating capital are less likely to become insolvent).
* Check to see if customer funds are segregated from company funds.
* Do they offer fixed spreads or variable spreads? Your particular trading strategy will determine which type is better for you.
* What type of trading platform do they provide? Is it reliable? Does it offer good charting capabilities?
* What type of broker is it...dealing desk, non dealing desk, STP, ECN?
* How much leverage do they offer?
* How supportive is their customer service?
* Do they provide free trader education?

Although I'm unfamiliar with iforex, I know that AskOBid is an excellent broker. You can learn more about them in the link below.

4. It is possible to invest in forex without a broker, however, you would need to have a huge investment capital to make any significant profits. The most important thing about a broker is that they give you leverage, so you can control a large amount of currency with only a small investment. Brokers also make it easier to open and close trades, especially now with online trading software.

You need to learn a lot on how forex operates before you invest. First you need to know how the industry operates, know which strategies are the best to use, practice on some demo accounts, find a good broker, then invest. If you are a newbie. I recommend to begin reading some tutorials for highly informational guides, videos, articles and e-books for free. best of luck.

5. Oanda seems to be one of the better one. I have account there and they have quite a large reserve capital.

6. Hi, most of the elite traders don't care if the market goes up or down they make money either way. They use charts sparingly. All top traders do is manage their risk and take advantage of the only truths of the market the ONLY absolute truths of the market.

For stocks that ONE Absolute Truth is this:
1) All stocks fluctuate in price.

For options there are two Absolute Truths:
1) All options fluctuate in price and
2) All options expire.

The top traders learn to respect these rules because they are the ONLY truths of the market.

I was always losing money in the markets because I was not reading charts properly. I found this system that has helped me immensely and now I am making money. Not 1000's of dollars but a couple of hundreds per day and that is adding up very nicely. You should have a look at this website, it will help you.

Good luck and happy trading