Hi,
I am new to Forex trading. few days back my friend told me Forex is the best opportunity to earn money online. While Seeking Forex trading websites i find marketiva where we can start forex trading for just $1. (by investing via e-gold) and lot of features attracted me like $5 bonus for signing up and $10000 virtual amount for practicing the biz.
i want to know more about Forex. Is anyother site provides forex biz in low cost?.
Is markevia is better choice or not?
Thanks in advance.
One thing to be aware of. These traders ,like a company you just mension, they earn when you trade no matter what the result. It means that wheter you gain or lose they get their money.
They get the transaction fee base on commission calculate from your trading amount.
Therefore, sometimes traders play trick on you just to make you start trading, even when it's not really a good time to trade.
However, forex trading still a good opportunity if you know what you are doing.
Last edited by sp_cosmetic on Tue Jan 09, 2007 7:05 pm; edited 1 time in total
Thats really a good information to hear from u...but maybe u can explain for us a little bit about this investment...if you're in it..I don't know..This sounds quite interesting to me...But never get the opportunity to learn it thoroughly...maybe u have the answer for me
Forex eh?
Well, if anyone tells you its the easiest way to earn money online, he's either a liar or he doesn't know much about the topic.
Forex is, just like stocks, commodities, bonds, an investment and not a guaranteed way to earn money.
I'll shortly list some advantages of forex trading and some disadvantages:
- Its an investment with a very high risk
- FOREX is the largest money market in the world: Liquidity is guaranteed through a turnover of nearly $4 trillion each day.
By this I mean that you'll always find buyers/sellers as most of the FOREX participtants are central banks.
- As volumes are so high, even single central banks don't have the ability to influence the market price much by individual transactions
- Markets are accessible 24/24, 5 days a week
- Where stocks are reflecting the value of a company, the price of a currency (which is what you are trading on FOREX) reflects a whole nation. No need to say how complicated it is to evaluate and account every bit information to value a company stock, let alone do it for a whole nation...
- Prices are susceptible to extreme volatility (price movements)on the release of macro economical data.
- Forex is an investment with high leverage. A little information about this:
Most currencies don't change much in the course of a day. One percent a day is already quite a change. So systems were introduced to elevate the profit/loss in percentages. More about this later.
- Forex is the most transparant market available I think. Economical data is often provided real time, and many online communities may provide you with very useful information. I only have one place to be: www.forexfactory.com I know about another place:
http://www.investopedia.com/ which i headed to a year ago to find about stocks but not forex...
May be it will be helpful if you read about there...
Good Luck
