Anyone off the street can be approved for a Forex or Stock account. To be approved for a Futures account usually you need a minimum net worth and income. You also need to be able to meet minimum margin requirements as well as a higher initial deposit. To be approved for Options on futures requires additional knowledge and clearance provided by the broker.
Currency trading sure has been good to me, what is there not to like about it? It can trend well at times, has low trading costs, & massive liquidity. I use both futures and spot. My own observation from forums over the years is that most day traders seem to have a horrible time trying to trade it. The other issue with Fx is you need to be careful in selecting your broker if you are not in the U.S..
I trade Currency Futures along with the other usual suspects (nq, zn, cl, gc etc). Currency futures I make money on. I find that currency markets in the intra-week spectrum and even longer term trade pretty similar to all the other contracts I trade. I personally don't see a difference in any of the contracts I trade. In fact, if you took the symbol away and value, I don't think I could tell the difference between AUD futures and NQ. I think of the 10 markets I trade natural gas trades the most unique... but every thing else, very very similar.
My take from watching Forex trader's forums for many years is that, since most of the retailers are trading small, more easily replenishable expendable income (through a real job), that they take very large stops, looking for high win rates to give them a eense that they're making headway. The inevitable big loss comes yet the "wipe out" is recoverable since such small relative sums are at risk. In futures trading, the money stakes are higher on a per trade basis. The loss levels attainable in a shorter amount of time will either keep you from trading due to margin reqs or teach you how to manage your reward to risk ratio as it relates to the avg winning pcts you can most reasonably attain. The "truth" in trading, imo, is that the avg person's psyche entering this biz REALLY wants to win 70-80% of the time "to feel good". Now 70% is about the peak level at which your avg risk doesn't go upside down relative to your avg gain, so even here, the human psyche is still not (initially) emotionally equipped to handle 1 to 1 trades when, "oh my, did you see that 200 pip winner I just missed?", is inviting the wrong mentality. I have Bob Volman's first Forex scalping book. I don't trade Forex or use his methods (70% winners at 1:1 RR is too razor thin for me!) on futures but I like it for the way he introduces beginners to a winning trader's state of mind and money management. The human mind is a funny thing. It can accept the 50/50 probability of coin flipping but it has a super hard time accepting trading at a long-term winning pct in the 50/50 area, give or take 10%, and even though the reward to risk ratios are more heavily stacked in one's favor (in a winning system, of course). I guess this is why I have been hyper-ventilating about the HSI / HHI futures lately. My hope is that some newbies can at least afford to watch it in real-time, sim-trade it and GET the connection between winning pct and RR ratios. Because when you have trading instruments such as these, you will be inundated with great setups every single day, the rush of all kinds of emotions will hit you non-stop, but more importantly, the higher volatility teaches you when to hold on and when to let go...you WILL become a great trader if you can trade these two beasts of high speed trending. Why? The recoverability factor on an intraday basis is very high. A few bad trades won't hurt you. There are far too many good ones to more than compensate. When you can take 20-25 tick losses for the opportunity of 4 or more 100+ tick runs occurring intraday on the HSI, well, what more could anyone ask for? [You don't need to win as often to make those stats for a long-term winning strategy]
and 13 of 15 accounts already have 0 equity, because they withdraw rest of investments after margin calls Let it be 1:30 it helps little to explain performance in both markets, imo
Futures and options exam are hoax, even after 5 or more wrong answers my broker said that I passed the test. Guess what is the broker?