any FX website for newbie?

hi there !

Can anybody please guide me the best website for trading on currencies?

I would like to start with play money if possible?

try OandA.com

thank you

Try tradefair.They have a demo account which for the next 2 weeks is offering a rolex for the person who increases his demo account the most

julian said:

Try tradefair.They have a demo account which for the next 2 weeks is offering a rolex for the person who increases his demo account the most

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thank you so much

Hi Newbie
I would like to suggest Gnutrade, the best website for currencies.The short training videos and articles will teach you the basic concepts of trading and explain what gnuTrade has to offer.Learn how to trade using gnuTrade’s unique, interactive trading screen.

hi thank you

I've come across this website. But they offer just 3 currencies, when can we except to trade on more currencies?

Currently in Gnutrade is offering only 3 currencies(GBP, EURO, USD).But I herad that the developer is working to have more currencies on their website.

ok thank you for the information.

demeanor said:

ok thank you for the information.

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OandA

Any position size, so you can trade daily charts if you want and risk 10p.

They aint the most sophisticated charts but the execution and order management is pretty good.

So if your learning, try them, The demo fxgame is pretty much identical to the real thing but to be honest open up a real account with a couple of bucks and trade really small.

You'll learn more than any book or demo will teach you.

Which-Forex-Robot seems to have some basic info for beginners.

Just for order entry or also for forex information? Best site for info is babypips.com, as stated one of the better sites for beginners or professionals alike is Oanda because of being able to bet $1. For charting consider a metatrader broker which offers the charting for free.

Forex brokers like Oanda and FXCM allow you to open a free demo account where you can practise with all the charts and live prices.

If you're looking for a good online course to teach how to trade properly, I'd recommend the e75 course. It's built on very sound principals and the best thing about it is you can follow his trading live two days a week as he targets a very achievable 20% a month. There's a 30-day free trial and a genuine money-back guarantee. I've learnt a huge amount from this course. You really can't go wrong if you can afford the initial cost.

Hi there,

I have found both extrabet and choiceodds to be good sites to use when betting on currencies.

They both have more currencies pairs to choose from, however the bet duration vaires between the two.

Personally I use ChoiceOdds more often, as I like there 5 minute and hourly bets which extrabet don't do. Extrabet are good on the old dailies though but choiceodds do them too so i guess its your call really.

I hope this helps!

BetChick

Thanks for the links guys

so you can check the info for begginers on arcoforex.com. It is new site, but the info there is realy helpful, and books with links for download

i hope it will help you goodluck!

Always watch where these FX bucket shops are located.

basically if they're not located in the UK or the US they're HIGHLY suspect. Why open an account with a firm in Mauritius, Cyprus, Ukraine when you can open one in New York?

Also, many of the one's from those suspect countries try hard to hide the fact, basically be aware.

And another thing, stay away from FX Robots and anyone that tries the hard and stupid sell, ie make 50% a month with this system. 95% of people involved in the online FX market are HIGHLY suspect.

GammaJammer said:

try OandA.com

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Oanda, is a Bucket Shop. Why on earth would anyone with over 4,000 posts refer a Newbie to Oanda. That makes no sense whatsoever.

New Trader:

You can learn to trade on the Barclays Direct FX platform. Barclays is an Institutional source in FX. There is a difference between Barclays Stockbrokers and Barclays Capital. I trade a portion of my cost basis with Barclays Capital on the BARX FX platform. You will need in the neighborhood of $300k to trade on that platform at my last check. However, you can trade Retail FX on the BARX Direct FX platform. I don't know the initial account requirements, but it won't be anywhere near the BARX FX institutional platform.

Here you will learn to trade on a platform with real interbank liquidity, rates, order processing, etc. Barclays is not a Retail Bucket Shop like Oanda and many of the other FCMs/Forex Brokers/Dealers/etc.



To remain in the Retail FX market and to avoid trading with a Bucket Shop, you can also try CitiFX and Divisa Capital FX (DCFX). With CitiFX, you are obviously trading with a bank using the SaxoTrader platform, but they also offer an Boston Technologies MT4 Bridge to their trade execution servers. With Divisa Capital, you are trading with a less well known Retail FX source, but a financial services company that obviously understands technology. So, you will be trading on Currenex platform that has been designed with the Currenex Hub in mind and that takes advantage of true STP to their liquidity pool. You will also note that with Divisa Capital FX, they do not hide the members of their liquidity pool. In fact, they openly publish them on their website. That's called credibility in the Retail FX business. Try getting a Bucket Shop to public announce the make-up of their proprietary liquidity pool.

TraderNumber7 said:

Oanda, is a Bucket Shop. Why on earth would anyone with over 4,000 posts refer a Newbie to Oanda.

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That was 2 years ago.

Do you have any concept of time?

Are you from a tribe in the Amazon?

Do you think having two moving averages of time would be of any use to someone who has no concept of vanilla time?

Is Oanda a bucket shop or not? How does Dukascopy rate against the other brokers mentioned?