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Need advice for choosing a broker

  • #1
  • First Post: Feb 23, 2012 4:43am Feb 23, 2012 4:43am
hi guys,

I need help in deciding new broker for me
right now i'm having account with Exness

and now planning to move to AVA fx(http://www.avafx.com)

I have 550$ and generally trade in gold,crude and currencies pair.
but i also like to monitor USDX as well

also i would like to open mini account where
1$ move in gold for 0.01 lot results in 0.10$ profit/loss

also if any one from India know about a broker where i can make INR as my deposit currencies

Thanks
  • #2
  • Feb 23, 2012 4:59am Feb 23, 2012 4:59am
just read this

http://www.forexfactory.com/showthre...59#post5299259

and looks like ava is not a good choice at all
  • #3
  • Feb 23, 2012 7:42am Feb 23, 2012 7:42am
Quoting jaimini
...also if any one from India know about a broker where i can make INR as my deposit currencies

Thanks
I've never come across a broker that offers accounts in INR... None of the major brokers do... One thing you can do is open a USD account with a broker that offers USDINR, and then long that pair with the same volume as your account, this way you can hedge exposure to exchange rate change
  • #4
  • Feb 23, 2012 1:02pm Feb 23, 2012 1:02pm
Quoting jaimini
hi guys,

I need help in deciding new broker for me
right now i'm having account with Exness

and now planning to move to AVA fx(http://www.avafx.com)

I have 550$ and generally trade in gold,crude and currencies pair.
but i also like to monitor USDX as well

also i would like to open mini account where
1$ move in gold for 0.01 lot results in 0.10$ profit/loss

also if any one from India know about a broker where i can make INR as my deposit currencies

Thanks
How you trade Crude with $550? I know it may be use CFD.. it means micro lot?
  • #5
  • Feb 27, 2012 3:03am Feb 27, 2012 3:03am
Quoting jaimini
hi guys,

I need help in deciding new broker for me
right now i'm having account with Exness

and now planning to move to AVA fx.

I have 550$ and generally trade in gold,crude and currencies pair.
but i also like to monitor USDX as well

also i would like to open mini account where
1$ move in gold for 0.01 lot results in 0.10$ profit/loss

also if any one from India know about a broker where i can make INR as my deposit currencies

Thanks
INR is not an international currency and hence a deposit can not be in INR. Secondly as far as I know in India retail Forex trading is not allowed.. well, you may have to check with local people of India but that is my information. Retail trading still happens there but as far as I know that the deposits and transactions are handled in with workarounds. I may have a couple of links regarding this but am not sure if posting those here will be against any policies of the forum but can do it if it is alright.
  • #6
  • Feb 27, 2012 3:28am Feb 27, 2012 3:28am
Quoting ccreative
How you trade Crude with $550? I know it may be use CFD.. it means micro lot?
yes you are right
exness provide cfd options
  • #7
  • Last Post: Feb 27, 2012 3:30am Feb 27, 2012 3:30am
Quoting forex-
INR is not an international currency and hence a deposit can not be in INR. Secondly as far as I know in India retail Forex trading is not allowed.. well, you may have to check with local people of India but that is my information. Retail trading still happens there but as far as I know that the deposits and transactions are handled in with workarounds. I may have a couple of links regarding this but am not sure if posting those here will be against any policies of the forum but can do it if it is alright.
i don't know the policies but you can mail them to me
[email protected]

Thanks for your kind information.
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