Hello, I am currently looking into funding an account. I have thought about trading forex since I view it as a safer way to trade. I was wondering which forex account offers the most competitive rates as far as commission (pip's) and also leverage. The reason I've been thinking about going forex is that it allows me to be more active in the markets since I don't have to pay the $4.95 commission every time I make a trade. Also I've seen the stock market and although I see 5% moves some days (even more) I still think I could be more profitable trading forex. What do you guys recommend? I also plan on joining t3 trading group but it seems that it is going to take me a while to pass the series 57. That is why I thought of suretrader since it offers some leverage plus no PDT rule. I am just afraid of paying a premium in market tuition. What forex firms could I look into that have the most competitive rates? Any advice on forex would be appreciated. Even warnings as far as licenses you have to get. I am not planning to get rich overnight but instead maximize my profits while minimizing my risks.
If I were you, I would focus on the exam and take it sooner. Trading and studying will remove your focus from both. You will end up taking months to study for an exam that should take 30 days and losing money. 1245
Forex in my experience is high risk high return, indeed leverage in forex also attract many trader, now some broker offer high leverage until 1:1000 and more, this is like as double edge of swords if trade blindly will loss quickly
I don't know. It seems the stock market is doing horribly and is very hard to profit. Maybe forex is a good alternative.
I don't trade forex but that no commission crap is a great lure for new traders. They offer a not so nice spread in which they take the the other side of your trade. They take their commission for sure, just not up front.Those spreads at the leverage their offering can easily become way more then a futures contract fee or a stock market trade. But if you have a system that works with forex then go for it. I fail to see where stock markets doing horrible is an issue, are you investing or trading?
Metamega, Imagine if the market in GM was 29.04/29.05 on the NYSE but your broker offered you commission free trading with the market 29.03/29.06. And, you can't buy on the bid or sell on the offer. You need to wait until the prices change. Would you consider that commission free? That is what most retail FX platforms do for non-deliverables. As a retail trader, I'd rather trade the FX futures pairs on the CME. Better price discovery IMO. 1245
I am only know about forex, never having experience on stocks market, I am ever reading if forex market better than stocks because open 24 hour while stocks only on working hours, and forex market more liquid if compared with stokcs market
Yes! I like 1245's idea of taking the exam first. But where should I go for more info on forex. It's going to take me a while before I pass my 57. And I really want to polish my trading skills.