Sunday, August 20, 2006

Trading Forex Mini experiment

Currency trading is new to me but I do have some experiance in trading stocks. I am learning how to trade forex using demo accounts. I am opening some demo accounts to try do some practice trading and to test their trading systems. I am not going to go with regular account yet. But I would try the forex mini first becasue less risky than the standard forex. And you only need few hundreds to start with.

Why trade forex mini account:

1. 24/7
2. few
3. leverage
4. no comission only spr
ead
5. less risk and exposure,since 1 mini pip = $ 1
6. to test the water and the trading platform
7. Only 1/10 the size of standard forex account.


Although forex can have great potential in rewards but so as the risk.
You want spread the risk by applying accounts with different forex brokers.
Be sure to read the forex advisory first before investing.


The following are some of the forex firms that offer mini accounts:


1. forex.com

spread: 3 pips
minimum to open : $250
leverage: .5% or 200:1


2. gft

spread: 3 pips
minimum to open : $250
leverage: up to 400:1



3. fxcm.com

spread: 3 pips
minimum to open : $300
leverage 200:1


4. cms forex

spread: 3 pips
minimum to open :
free futures magazine


5. ifx markets

Spread: 2 pip spread eur/usd
minimum to open :$500
leverage: 100:1

6. fxtsp

spread: 3 pips
leverage: 200:1
minimum to open : $300


7. High street networking

spread: 3 pips
minimum to open :$100
leverage: 200:1


8.northfinance

Spread: 2 pips
minimum to open :$100
leverage: 100:1


9. Gci financial


spread: 3 pips
minimum to open :$500 min
leverage: 200:1


10 ab waltley fx


spread: 3 pips
minimum to open :$500
leverage: 100:1


11. forex capital management

spread: 3 pips
minimum to open: $300
leverage: 200:1

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