Forex trading existed even before we were born. Yes, trading been there for ages now but imagine a time when they had no calculators and no computers. Imagine, dealing with numbers with your paper and a pencil and wouldn’t that take ages to trade?
So glad we have computers, so glad we have internet and so glad that we now have FX trade online. Not just the brokers, we also have the real banks to trade with. We open the trading accounts online in just no time, we deposit via credit cards in just no time and we are there, ready to trade, FX trade online.
So how do you trade or take your first step towards trading? First of all, you need some basic education that you find on multiple websites. There are some very good ones like Baby pips where you will find not just the good educational material but also good notes by experienced traders who actually make a living by FX trade online.
Your next step is to find a broker who will take your orders and maintain your account. Make sure you find a broker who is registered with the regulatory bodies of its country as internet is full of fake companies with all kinds of malpractices. A regulated broker is safe to trade with in terms of safety of your deposits and withdrawal.
Now you have to start your career in FX trade online but you need to know that buying and selling currencies require decision making based on market analysis. You have two options here, first, to learn to analyze the market on your own. For this, your broker will facilitate you with charting application where you can apply your technical indicators and start trading on your own. You may also decide to use fundamental indicators rather. The good news is that the brokers also send you regular updates on all major news happening around the world. What more can you ask for when you get all the news on your desktop, the moment it happens, all the time?
Your second option is to find a good and reputed signal provider who analyses the market and gives you the right trade recommendation. Even better is to find a few hubs like Zulu trade or collective2 where you can find all the major signal providers listed with their performance history on multiple parameters. You can decide who you want to go with and thereon, its simple. Subscribe to him and just follow his trades.
However, FX trade online has now taken a new dimension with the now available API configuration systems and Auto trading. Under these, you can just connect your trading account to good trader that you may know or find on Zulu trade. Once you have connected to him, his real time trades are automatically mirrored onto your account also, hence keeping your trading hands free. This concept is called mirror trading and has the major advantage of keeping you free from analyzing the markets and making decisions on your own. This concept now is on the rise and you too should take advantage of this mechanism as this is easy money.
But remember before you start FX trade online; put only that money to the markets which you can afford to lose. Never ever trade with borrowed money as forex trading has a lot to do with Human Psychology and that takes a toll on your trading decisions the moment you realize that the money on the line is borrowed, not yours. Always invest only your own money and only what you can afford to lose.
To begin with, how do you become in Millionaire in Forex trading?
Start with a BiliionLol!
An experienced Forex trader knows that it’s worse than a divorce. You lose half of your net-worth and you still have to keep your wife
With that, we list a few popular Jokes in Forex as there’s nothing else in trading that we find worth a laugh. All the wins you make are only temporary, so sooner or later you’ll realize that you cannot repeat what you achieved in your first trade. I can definitely mention a Guy who won a free trip to China after having won a Forex contest online. The Joke is that he’s still stuck in China, trying to find a trip back:-)
This one of for stocks traders though experienced Forex trader will understand it too.
If you had bought $1000 worth of stocks for Nortel stocks two years ago, they would be worth $49 now. If you bought Enron energy stocks for $1000, they would now be worth only $16. Shares for world.com worth $1000 would now be only $5.
But if you had bought $1000 worth of Budweiser beer and drank it all, you’d still have empty bottles worth $100 in the end:-)
Here’s another good one,
A Forex trader comes homes just to declare to his wife that he’s finally lost all his fortune and now they would have to drastically cut down on their lifestyle and their expenditure.
– “If you’ll learn to cook, we can fire the chef and save some money,- He said to his wife
Here’s what the wife replied
– If you could just learn to make Love, we can also fire the Gardener
A Priest from the Church and a Forex fund manager died to went to the gate of heavens. At the gate, the fund manager was given a silken robe, a golden watch to wear and directed to an air-conditioned apartment.
Then comes the Priest who was given a Cotton robe, an ordinary watch and a simple apartment,
The priest complained: Wait, this Man was just a Fund manager and he’s been given all the good things. I was a priest but I get ordinary things. Why is that?
Saint at the gate replied: Listen Mate, Here we go by the results. When you preached, people slept. When he traded Forex, people prayed
There are many benefits and advantages of trading Forex over stocks, the main one being that the Forex market is meant for both short-term as well as long-term gains while stock market works only for long-term investments. The reason behind this is that the Forex market operates all twenty-four hours, all weekdays, monday till Friday midnight so you can take your positions anytime day, noon or night and can also close it just like that unlike stock markets which has restricted opening hours, (most of the countries have it as 9.30 morning till 3.30 noon) for trading and order processing. An experienced trader knows that to have complete control over his positions, his trading and his decision-making, its important to have an open counter all the time, as trades do get stuck for longer hours and even over a day sometimes. This lack of facility of an all time open market makes it hard to make gain in stocks over short period, hence in comparison Forex stand tall as it is open all the time, so you get to decide when you want to take your positions, how long you want to hold it, when you want to close it and when it is that you want to not trade and simply relax.
Besides this, let me also brief you on a few other areas where Forex is better than stocks for trading benefits. A good comparison can be over the commission and transaction costs which are ways too low in Forex (where you pay only the spreads, usually about 0.07%) as compared to stocks (where you pay high commission as well as the call and put differences, mostly about 0.1%). Similarly, there is no clearing fees, no exchange fees, no government fees and no brokerage fees for a Forex trader, hence making the cost of trading highly effective. The availability of extremely high Leverage in Forex, (as high as even 2000:1) makes it easier for traders to buy and sell in much heavier lots even with small trading capital and make quick big gains unlike stocks where the leverage is restricted to 8:1 or maximum 10:1. This means that the stock trader needs big trading capital, most of it his own, to be able to take his positions and the worst part is that he will need to hold his positions for very long durations (like a quarter to even an year), so he is most likely to find all his money invested and then there being no work for him besides waiting, waiting long, waiting long for like almost an year.
There are two more Important features worth a comparison that the stock market can easily be manipulated by a big fish or a club of big investors but not Forex as Forex is global and no one , just about no one can corner the market solo. This means that not only is a small trader as powerful as the big one, there’s also the fact that as long as you know your trading, your money is always safe. There is no threat from external investment entities, no matter how big they are!
Another high level betterment in Forex is the fact that it’s highly liquid. Since you are dealing straight in cash currencies, the facility of single click disposal of your holding is always at your command unlike a day-trading Stocks trader who often finds himself not being able to close his trades in time for lack of liquidity. In Forex, you are never “stuck” in a trade for not having a buyer or a seller as what you are holding is pure cash and you are always selling it to a Bank, a bank that never says ‘no’.
Coming to an end, the only area where Stock market may be safer than Forex for a beginner is that Stock market has no fakes firms and no cheats. All stocks are listed and all brokers are duly regulated which is not the case with Forex. It’s easy for a newcomer to get trapped with an unregulated Forex broker or even a Non-existent Forex broker with just a fake website. But having done your Vigilant exercise on this with the regulatory authorities in your country or even offshore, You will always see that in the purview of the above mentioned facts, features, facilities and comparisons you always have more than one reason to choose only Forex as your trading career. Full time or part can only be your next choice!
While Forex trading has always been a conventional way of earning money using the currency market fluctuations, a new method of trading has evolved in the last few years, its called Binary options. Binary options, that’s more like betting, trades direction and not the price as does Forex trading. To make it easier to understand , Binary options offers a bet where your Job is to anticipate whether the price of the selected pair will be above or below the entry price , after a certain period of time, which could be End of hour (EOH) or End of day (EOD) or even end of week (EOW). If your bet is right and the market actually ends the way as you had assumed in the beginning, then you get a certain payout, usually about 80% of the bet amount. Otherwise, you lose all.
This definitely would have been simpler and safer method to trade the market as Binary options do not have any take-profit targets or stop-losses. An experienced Forex trader knows how the stop-loss fails to trigger in times of sudden spikes which can blow up even the entire account. This threat is eliminated in Binaries as there is no stop-loss and no threat to Balance. You can lose only what you have staked, irrespective of how high or how low the market goes in the duration. Similarly, There is no need to even watch the market Non-stop as there’s nothing you can do in-between the trade, you can’t close it in the middle and it doesn’t matter really what’s happening there in the middle. You simple place your order and then come back only after the selected slot of time i.e. come back only after an hour to see if your bet has failed or it has paid.
Compared to Forex trading, Binaries are definitely more systematic and more organized in terms of maintaining your trading discipline, provided you get your directions right, 65% times at least. Its only then that you make profits. However, the money is safe and that’s important.
This is how things are seen from a broad perspective. But a really good trader will still prefer regular Forex trading over binaries, reason is that Forex trading allows you to even double up your money with a single trade, a feature that is not available with Binaries as the maximum you get on a win is 80%, 70% sometimes, sometimes even 60. So to maintain your profitability, you need not only 65% win rate but also bets worth the same payouts and not less. This could be a bit tricky, analyzing your instruments and then coming back to your broker to find a different payout. This is not the case with regular Forex trading as once you have chosen your leverage, once you have found you definite trades, you can always double your money in a single trade and it doesn’t matter you lose it sometimes, the system will restore all your money in no time. So Forex trading definitely is a better style assuming that you have picked two things from Binary options that you take only one trade at a time or in a fixed period of time and second that you don’t check the market until its time to take the next trade. Just bring these two habits in your Forex trading and there you have it, a Glorious career ahead of times!
Learn More About Binary Options Trading
This is perceptive what time you are going to trade or what time technically is the best to trade because it always starts with what style of a trader you are and how much time you can give to finding your trades. While a scalper can spot a small trade every one hour, the swing trader wants to take one nice trade everyday but only with a limited schedule. I come in the second category and the news is that market moves well usually in Late Asian hours, at least about twice a week. This is the time when the major action happens in the market but as it is said, the market cannot be timed. Randomness is not only in the direction of the market, the time of the action also is random. It keeps moving from Asian hours to New York session, sometimes to Tokyo hours, to London session sometimes. Last few years it has been the late Asian hours but it will be wrong to assume that this specific time can be eternal and the biggest move will always continue to come. Remember the rule; Market has no rules, no rules to its movement, no rules to its direction, and no rules to its time of movement. Time keeps changing, so the first thing that I need you to understand is that market need not be timed, it’s your trading that needs timing.
You can always time your trading so as to suit your own style and own temperament and of course your own need. Even small moves can be converted to Good profits, and small moves keep coming every one hour. That’s what a scalper does, depends how much time you can give to markets. You are a Good trader if you trade without disturbing your daily activities. To keep a discipline, you can follow the economic news calendar so that you know when it is that you have to come to the markets and when you can expect the action. Though it’s not my style but it is believed that mostly at the time the news is released, some good action follows, money can be made in a matter of few minutes provided the brokers give you that fill and then you are free (till next news). It may demand a little study of brokers firsthand as most of them do not allow trading news. But it is a good way of keeping yourself organized.
Another Good thing to follow if you do technical is that you analyze your charts only on the weekends and then throughout the coming week, you keep checking the rates everyone hour. All opportunities that come, you take and all those that don’t, you discard. Reanalyze the charts on Saturday or Sunday and find newer opportunities. Repeat the schedule on days that follow.
Remember the rule is that we are not looking for big and bigger moves; we are looking for small but “fast- ending moves”. If you do that, you’ll realize that getting big profits everyday is not as important as it is to get small but fast and consistent profits. For that, market is moving all the time, only requirement is to complete your mathematics and decide what time your routine allows you to check the rates. If you are on a full-time Job, then follow the Fundamental routine, if not, and then come to scalping, full day or all night long.
Hedging, traditionally is a way to protect your open losing positions by taking an opposite direction trade on the same or the cross-pairs, so that you get more time to re-analyze the markets, redesign your strategy and reset your take-profit targets. This is done in case of No stop-loss trading where the trader prefers naked positions with no hard and fast rule about their entries and exits.
To make it simple to understand, let’s say you have a LONG position on EUR/USD. The position continues to go in negative, so you decide to take an extra position on EUR/USD, this time SHORT. So you would have two positions on EUR/USD both in opposite directions, so either side movement is not going to affect your account balance.
What this does is that it gives you time to decide. Of course getting into a Hedge and coming out safely again is a challenge but the unique advantage is that it provides you time, as much as you want, so as to restudy your exit points for both. Your account balance will be safe till then.
This is only one way of Hedging, there of course are cross-hedges and circle-Hedging where you hedge your positions by taking counter positions on cross currencies and not this one only in specific, so a negative movement on one will be countered by a favorable movement in the other. This style of hedging is good for scalping in sideway moving market with the advantage that even if any sudden adversity (a sharp negative spike) comes, then also the account will continue to be safe. Your portfolio will either earn some profits or will hold all your positions in no profits. Cross Hedges do not go very negative, whatever may happen in the markets. It’s slow; it’s boring but definitely is the safest way of trading if you have reasonable monthly targets to achieve, while taking no or a very little risk.
Cross hedges do not have Stop- losses or any chart based take profit targets, they work only with the Currency pair behavior and its repercussions on the others. It’s the portfolio of Pairs that you choose that makes your Hedge and hence your profit target is your portfolio coming to profits, not your individual positions. Win rate on a system is not calculated here as you could have just a 33% win rate while closing 67% of your positions in losses but the overall results will be better than Bank. The Trading History will look like a pathetic mess but the profit results will surprise any seer. Those that you win will be all big huge trades and the ones you lose will only be small ones. Just as goes the old quote from the trading books’ Cut your losses short, Let your profits run’, Cross-hedge portfolio automatically deploys it even if you haven’t studied that principle before. You can simply make a cross-hedge and go out holidaying. When you come back, then your portfolio will either be where you opened it or will be in profits. The account will never be found fully blown, no matter when you come. The biggest advantage will be that whatever be the size of even the most unforeseen spike in the History and no matter how many Stop-losses in the world fail to trigger, your account will never be blown.
However, the caution is that you need to calculate your Lot sizes for each pair carefully. Each pair requires a proportional position-sizing so as to balance out the previous position. This requires understanding of mathematics behind currency valuations and lot sizes. This only comes with logical brainstorming and good mathematical abilities. Sure you can do it, try it, Good Luck!
Quick Facts About XM (Trading Point Holdings Ltd):
Founded in: 2009
Headquarters: Limassol, Cyprus
Maximum leverage: 1:888
Minimum deposit: $5
Accepting US Clients: No
==>XM Current Bonus Promotions
Regulation: complies with the legal and operational frameworks’ of its regulators, the Australian Securities and Investments Commission and the Cyprus Securities and Exchange Commission. The company is also registered with the FSP (New Zealand), the FCA (UK), and many other European regulatory bodies.
Platforms: MT4, XM Webtrader, XM MAC MT4 and trading applications for iPhone / Android.
Payment: Credit cards, wire transfer, Neteller, WebMoney, Skrill moneybookers, Sofront, Ideal, Paysafe, Qiwi, CashU, Abaqoos, Moneta, Giropay, P24, Astropay, Fasapay, MoneyGram and Western Union
XM Main Advantages:
- License \ Regulation – regulated by the most reliable regulators in the industry.
- Unique loyalty program – comprehensive loyalty program ensures that clients are continuously rewarded for their loyalty. XM Points are awarded on every lot traded in accordance to your Loyalty Status. The higher the loyalty status, the greater the number of XM Points that are awarded. As these XM Points are accumulated, they can be redeemed at any time, and as often as desired, for credit bonuses and real cash rewards.
- Same day withdrawals via a variety of speedy yet secure payment methods.
- A wide variety of educational material is available for all clients, with free weekly interactive webinars, MT4 video tutorials, and periodic seminars taking place in different locations around the world.
XM Main Disadvantage:
Not accepting US traders.
XM review summary:
With strong regulation, great trading tools and unique loyalty program, XM is great broker you may consider. I would recommend you to open demo account
and try it.
Proper Disclosure – I’m affiliate of XM. On the review above I tried to provide details and facts. The considerations to choose affiliate programs are similar to choosing trading platform (reliable partner, ease of use, good reputation, good tools, good support
Now this can be one of the most useful articles you read if you also want a slice of the cake but have no easy way to keep going further, especially when you have seen multiple failures, have experienced enough frustration, helplessness , lack of support everything. You tried the charts up and down, traded with the trend and also against it, you tried Fibonacci, you tried Elliot, you tried channels. You tried everything under the Sun but…, You also tried taking tips but they don’t work, do they?
Forex trading of-course is all about knowing the market movements, knowing your trade set- ups, knowing your risk-management but most of all; it is about knowing your mistakes what led you to your failure, mostly psychological. Everyone has a different temperament, everyone has that greed, everyone has that impatience and bla bla but who cares, show me Money, the color of money!
Ok Guys, it’s true that you can make a living out of Forex trading as long as you have a system in place. Now this is the first thing you need to develop, your own prototype system. However, there are rules to it and nobody’s going to teach you these rules, no books, no colleges, no hedge funds gurus. It’s you and only you who can design that system which meets all your criteria which can include profit-making, easy profit-making, quick profit-making, big profit- making, this and that. If you really trust those websites selling those $50 and $100 trading systems, trading methods, trading strategies and God knows what not, then I suggest that you keep away from trading. I own multiple great systems but I don’t think I would ever want to sell it even for a Million dollars. Why, because this is my brainchild, my creation and it easily is the best in world. With that behind me, I can tell you nobody, nobody will ever sell his trading system to you no matter what! Stop being gullible and stop trusting websites and people, that’s the 1st step to finding your way to making a living with Forex trading.
2d step of course is to spend some time with charts and set your rules to your chart set ups, find your indicators that give you comfort, set your trade timings and your workstation in place where you are going to trade, backtest your system and go Live. Be involved with people and help them in their cause as Forex trading itself is a very selfish discipline. Once you have considerable success, just go, and join a Hedge fund for they have some serious money to give to you to trade, with no liability whatsoever. Of course, another important element of trading is the Health effects as it disturbs your Blood pressure levels, your pulse rate and everything. Trading, irrespective of the success you may have behind you, can also have a psychological effect as here you are dealing with uncertainty, that element of 1% uncertainty will always be there like a hanging sword, so be sure that this doesn’t affect your relationships with family and friends.
However, with the time, I have realized that there’s no point making your systems and then spending N number of hours with your computer every day. You may enjoy making money for some initial days but it definitely takes a toll on your mental happiness and daily discipline. So why to not leave the analysis part to some proven professionals?
With the time, lot of free but very well-proven signal-providers have come up online. The mirror trading websites like Zulutrade and eToro are only some of the examples where you can not only find a list of very good traders but also see everyone’s trading history, trading style, trading results and all such factors that can build up your confidence in their abilities. Find the best ones, spread your investments in each and sit back, relax, reap the benefits.
While choosing your signal provider, just see that they have a minimum of twelve months of active trading-activity recorded. Make sure the ones you select always use a stop-loss and have a win-rate of over 75%. Make sure that their average trade-potential is over four times the spread, meaning a minimum of twenty pips on a trade. The best systems are those that close the trade in less than twenty minutes, either hit TP or hit SL but it’s not a good Idea to hold your positions overnight, not because there’s considerable risk of a sudden overnight movement but because it is going to disturb you evening discipline and morning moods. Similarly, spread the risk over many traders so that some can compensate for the failures of some. Remember, there is always room for Human error and that can come to anyone, anytime. Hence, spreading your portfolio over many good traders and also over many Mirror-trading websites is a good precaution. Similarly, be reasonable in setting your targets where the aim behind trading should only to be to beat the bank and not extraordinary riches. Don’t look for traders who amass huge profits while trading demo accounts on these mirroring websites as they have a short span of life. Remember first rule of trading is protecting your capital, profiting is only second. If you want riches, then create a reasonable record of your trading and go join a Hedge fund but never aim anything more than 10% profits a month.
You can also make your own Brokerage firm or IB websites just to add some extra action to your involvement in Forex. You can also do some training seminars sometimes as I do where I teach the beginners the basics of trading. Some forecasting, consultancy and Forex article writing also goes along; depends what you like doing the most. All this is fun; remember Forex has something to give to everyone. It does take money from most of the traders when they lose initially but eventually places the person in just the right place, with just the right role, a role that suits him the good, that thrills him the better, that pays him the best!
Trading in Forex, as we all know, is done in heavy-lots with each lot-size amounting to $100 thousands on a standard and $10 thousands on a mini. These figures are big and scary and it’s a fact that not everyone has that kind of money to put into trading, even when you are very sure about your trading abilities. So, the question is that where do you get that much of money if a lot means as much as $100000? Is this the end of your trading career dream? Is Forex trading only for the big fish?
No my friend! It might scare you to see the lot sizes running in hundreds of thousands of dollars, that you probably don’t have with you but not to worry as you don’t need so much of money in your account to be able to trade. All you have to do is that you find your trade, just place an order and the broker will lend this money to you, at no condition at all. To further surprise you is the fact that whatever profits you make on his money is all for you to keep. Isn’t that cool? Let’s get into the details of this facility, it’s called LEVERAGE.
The Spot FX market runs on high-leverage which means that the broker makes the money available to its traders even up to one thousand times of what the trader has in his account though the most-commonly used leverage varies from 100:1 to 400:1. A leverage of 400:1 in your account would means that for every dollar that may have in your account, the broker will give you $399 to make it to a total of $400. Similarly, if the leverage used is 100:1, then for every $1 contribution of your, the broker with contribute $99 to make it a total of $100.
The broker lends you this money to trade these lots in lieu of certain deposit- money that he expects you to have in your account. In the spot FX markets, it is called the margin-money. $1 that we quoted in the above examples is called the Margin Money, you must have that much in your account and then the broker will take care of the rest.
The availability of this leverage makes it easy for small capital traders to trade in large-size lots using the brokers’ money when their own contribution in the pool is as low as just 0.25% or even 0.10% when the leverage used is 1000:1. The following calculations will make it further easier for you to understand leverage and calculate the Margin money required to trade a lot.
Example: Running at 400:1 leverage, if the lot size is $100000, then just divide the lot size with the leverage and you reach the money that you are required to have in your account to be able to take that lot, $100000/400= $250
This $250 is what you need to have in your account and the rest $99750 will be contributed by the broker to make it to a total of $100000 so that you can buy or sell the standard-lot that you want to trade. This $250 is called the “Margin-Money” and is kept as the security with the broker as long as your position is open.
In case you would want to take two lots, then you need to have $250*2=$500 in your account and then you can buy up-to two lots, i.e. $200000 worth of any currency you may like.
Example: Similarly, if you want to trade a Mini-lot with $10000 size, you need 10000/400= $25 in your account. Rest $975 will be all brokers’ contribution.
You can also change the leverage to any other figure of your choice and the margin-money required will change proportionately. If you change it to 100:1, then the margin-money becomes higher as you dropped your leverage from 400:1 to 100:1 but if you increase it to 1000:1, then the margin required will become lesser. Don’t panic with the calculations, it will all be on your fingertips in just a few days but for the time being, just remember that to trade Forex, you need nothing more than just a few dollars and a good mathematical ability. Just remember this simple formula, Lot size/Leverage= Margin money. Margin money is what you need in your account to be able to trade in Forex.
You might also feel scared with the thought that the broker can ask you for his money back in case you lose it with your wrong trades. This again is not a reason to worry because the broker has made enough arrangements to safeguard his own money and will not let you lose it even if you want to lose. The maximum loss that can come to your position is restricted to your own account balance i.e. the extra money besides the margin-Money, also called ‘Unused-margin’. The moment the loss goes beyond that, your position is automatically closed by the broker and the broker’s money goes back to him. Broker’s highly-sophisticated software has these inbuilt-arrangements to close your position as soon as your account balance is exhausted, so even if you want, your losses will never affect the broker’s money. All you lose and can lose is what you are willing to lose but only and only out of your own account, nothing more.
So now you know how Leverage can be a friend, how strong mathematical calculations before starting to trade can tilt your trading results in your favor and, how using high leverage on your sure-shot trades can multiply your profits manifold.
Before I conclude, I say that using high-leverage is always advantageous as with the growing leverage, the margin- money required to place your orders becomes significantly low. This means you can buy more lots with lesser money in your account when you are sure about profitability of your trades, all the more when you are a strict reversal-points trader.
However, as I said, good mathematical calculations are a must before deciding to use high leverage as even the slightest of negative movement on your trade can wipe out all your account balance in case of high-stake lots. Availability of leverage tends to use your greed to capture more profits by taking heavy lots. This backfires when the trade goes wrong in the times of sudden spikes or sharp volatility, hence leaving you no time to either hedge or to close your position. That means even a single bad trade can wipe out all your previous profits if you are running on high leverage and the position sizing is big. However, advantages are more and disadvantage less; provided you do your calculations right and not use high leverage in the time of disturbed markets.
These regulated brokers offer leverage of up-to 400:1:
www.easy-forex.com – Regulation ASIC, CFTC, CySEC
www.etoro.com – Regulation NFA, CySEC, ASIC, CFTC, MiFID, FCA
www.avatrade.com – Regulation Central Bank of Ireland, MiFID, ASiC, BVI
So, you can imagine how low an account balance you need to start your trading career
You can search Google for more brokers with higher leverage offers. However, I’ll suggest that you always check their regulatory status and registration details before choosing one. Traders from U.S. may not be able to avail much benefits of this feature without using an offshore broker if their law so permits, as the Forex regulatory authorities in U.S. have restricted the availability of leverage to retails traders to a maximum of 50:1 but U.k., Canada and Australia still continue to be good countries to find high-leverage brokers with due regulation, formal registration and positive customer feedbacks.