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Forex micro Lot Traders

  • #21
  • Nov 1, 2007 6:57pm Nov 1, 2007 6:57pm
Quoting IvoHR
Hi to everybody,

i'm new at forex trading and i would like to test my self with real accounts.
The problem is, that i dont want to spend too much money testing myself.

So i would like to test myself real depositing about $100 and trading micro lots of 0.01.

The problem is, that i can't find (i'm not that good in surfing the i-net) any good and safe Online Forex Trader company offering me such things.

Would you please post me per e-mail or in this post any good
Micro Forex Traders, which you know that they are good.

Thanks alot for your help.
I would definitely recommend both Oanda and IBFX. I have a small live account with both.
If you are a UK resident you can send payment from your bank account over the net for free (I am with Barclays) I will give you the details if required, as they use JP Morgan (if my memory is correct) to pool the funds.
Also I have found IB to be very prompt when replying to e-mails, and they rectified a mistake I made when funding my account at no cost to myself.

IB is the superior platform, if you dont require remote access.

Regards'

Ed.
  • #22
  • Nov 1, 2007 8:16pm Nov 1, 2007 8:16pm
Quoting peterM
If you are new, you will almost certainly lose your money. I wouldn't bother trading live for a while yet.
I strongly disagree with this. I think the OP is exactly right about what he wants to do. $100 is not much, but it is his! It isn't 50,000k that some broker just makes numbers out of. This is his money that he has an emotional attachment to. Therefore he will treat that money with more care and use preservation tactics to make certain he doesn't lose it.

IvoHR,

I like to see this kind of approach to trading. I personally did not start to trade in an appropriate manner until I did very similar to what you are now doing. Although, since no real money will be made with $100, I would suggest going even lower than .01 lots. Try using just .001 instead. 1000 pips to bust out is not that much, it can go very fast.

My broker suggestion would be Oanda. It really isn't an accident many have suggested them. They are one of the largest retail brokers and are quite legit. I have traded live regularly for over a year now with them, one and a half if you count that phase you are entering now, and have yet to experience any trouble with them.

You mentioned FXSolutions. Use AccuCharts for free with demo and use MT4 as well. These are good for tech analysis, use Oanda for what really matters
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #23
  • Nov 1, 2007 8:38pm Nov 1, 2007 8:38pm
Quote
I strongly disagree with this. I think the OP is exactly right about what he wants to do. $100 is not much, but it is his! It isn't 50,000k that some broker just makes numbers out of. This is his money that he has an emotional attachment to. Therefore he will treat that money with more care and use preservation tactics to make certain he doesn't lose it.
Fair enough :-)
  • #24
  • Nov 2, 2007 8:07pm Nov 2, 2007 8:07pm
Oanda

You can get penny pips if you want to...lol.
  • #25
  • Last Post: Nov 3, 2007 10:47am Nov 3, 2007 10:47am
I would also opt for the good ole penny accounts from Oanda!!!

I use a MIG Mt4 practise account for my charting and Oanda for the money side of things.

I started out by demo trading for a year and a half before finding a pair and style to suit me.

Currently only trade GBP/JPY (Love the volatility and range bit sometimes it burns!!)...

IMHO stick to demo develop a style on a currency pair that you get to know like old friends, then when you are consistently trading well start it for real..!!! Just do not rush in as this is the mistake most beginners make.

Its like learning to read, you would not start with War & Peace!

Keep posting on how you get on.

Jeff
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