OANDA vs Plus500 2020 - ForexBrokers.com Online Forex ...

College forex trader - would appreciate some help!

So a few months ago, someone I had met in the first few weeks of my first semester at college, had been posting pictures of his MT4 account with his profits, and I was pretty intrigued. I asked him what it was, and he said it was the Forex market, so I wanted to learn more and asked to meet up with him. When we met he was explaining it a little more and told me that he was in this networking trade group called IMarketsLive and went on to offer for me to sign up, upon which I said I wanna do a little research before I sign up for anything. And so I did, and saw a lot of different opinions about IML and the things they do, and I wasn't really attracted to the networking aspect and also did not want to start paying $275 a month just to be in the group. It seemed to me like it was kind of a pyramid scheme, so I turned down the offer but decided to try to learn about the Forex market for free on my own.
I started doing more research about it in my free time, and eventually I discovered the BabyPips website where you can go through around a 330 lesson course, which goes through a lot of the basics and foundations of Forex trading. I made it through that in about a month and a half or so, and then opened up a demo account with IG. I watch a lot of youtube so more and more videos about forex started popping up in my recommended and have definitely helped along the road.
One thing I saw is not to have a demo account for too long, so after around a month of having the demo and getting a little profit, I opened a live account with $300 on Oanda. I use their online trading platform and it's alright, there are some things I liked better with IG but that's besides the point.
I've been trading with lots of 500 units or less so I'm only down about $6, but I feel like I'm kind of stuck. After all the stuff I've read and watched so far, I've come to understand that there are some key things every trader needs to do. From what I've seen, it's
Among a few other things I might be forgetting, I understand these are crucial points to follow to become a successful trader. The only thing is I feel like I've flooded myself with so much information and I really don't know where to go from here. I don't have a trading plan mainly because the best thing I've heard to do is make one that fits my trading style, but simply put I don't know what my trading style is and don't know how to actually construct a usable plan.
I know many people join the market because of the dream of turning $25 into a million dollars, however I don't have that mindset. Also I know I should focus first on preserving my capital and being consistent rather than focus on getting a lot of money, I just don't know how to do this. I am ready to put more effort into the market, I just don't know where to put it.
Another thing to note is that for when I am ready and have developed a proper strategy and everything, I have sufficient capital (around $3k) to actually start making some serious profit. (for a 19 y/o!)
Anyways, if you would like to give any advice, tips, things to avoid, stories, anything - that would be greatly appreciated!
Thanks for reading👍
EDIT: This is my first time using reddit so I can't reply to anything because I don't have enough karma whatever that means. But thanks for your responses, they will definitely help me to start building my own strategy.
submitted by sender27 to Forex [link] [comments]

Beginner Information

Recommended STOCK brokers (get a free stock if you open a robinhood account): Robinhood http://join.robinhood.com/paolac2 tdameritradehttps://www.tdameritrade.com/home.page Recommended FOREX brokers, DO NOT use any brokerage offering 500:1 leverage! Oanda https://www.oanda.com/us-en/ fxcm https://www.fxcm.com/uk/(edited)📷12You do not have permission to send messages in this channel.
Recommended Platforms TradingView.com: https://www.tradingview.com/gopro/?share_your_love=Tradertoks Ninjatrader: https://ninjatrader.com/ MetaTrader4: https://www.metatrader4.com/en
submitted by OnTheGeorge to TraderToks [link] [comments]

Brokers for scalping with EA?

I've done some searching but am overwhelmed with all the results for "best forex scalping broker". So many options, wide range of dates, and don't know if any are even reliable.
I'm working on an EA to scalp pairs on five minute charts. Based on Oanda's spreads, I've narrowed it down to 15 pairs with a spread less than 3 pips. I'm really hoping for spreads lower than that for a lot of the pairs (this can include the spread plus commission equivalent of < 3 pips). I'd also like a broker that allows $500-$1000 or less deposit, but that's not as important. Leverage isn't a big factor either. I guess another big "must" is Metatrader 4 compatible. In USA.
Any scalpers out there have any recommendations? Are ECN brokers best for scalping?
submitted by turduckenpillow to Forex [link] [comments]

Need help please!

Hey everyone!
I have been studying forex and practicing in a demo account for about a month and a half now and I think I'm ready to open a live account. I have been trying tons of strategies and I think I found a great one that has been working for me, pretty simple (It involves MACD crossover, support/resistance and 21 moving average line).
I'm not like most people who just dump money into a forex account and actually expect to make thousands right away. I studied hard, slaving away forums, websites, youtube videos trying to figure everything out and I think I'm ready.
I started with 500 USD in my demo account and made 398.52 in the first day when I used my 'perfected' strategy (leverage 1:200).
I just would like some advice on what broker I should use. I see so much bs online, and I would really appreciate your advice. I would use OANDA but it only has a leverage of 1:50, and I want to use 1:200 LOL. I saw some stuff on Tallinex, but there's not too much on it.
Any help will be appreciated!
submitted by positivemale to Forex [link] [comments]

Advice on leverage?

Hey Forex, I have been practicing with demo and small live accounts through for the past 2 years through a broker in my home country. Long story short, I\m used to 100:1 leverage. Based on this leverage i decided to open a new live account with €500 and use 2000 sized-lots for a roughly a position size of €25 (5%).
Now, for this account i decided to go with OANDA as their spreads are a bit better than my local broker, also my local broker will soon forbid positions of under 5000. What i found out is that OANDA doesn't offer a leverage higher than 50:1. I want to hear your opinions on the advantages and disatvantages of a lower leverage in MY situation.
I am familiar that i will have lower risk to my money, but i also know that my buying power will be halved and subsequently - my profit.
Should i look for another broker who supports 100:1? Should i stick to 50:1 and why (again i'd like to hear opinions taking into account my account size)?
Thank you guys! I've received so much good advice from this community!
submitted by soso_met to Forex [link] [comments]

Understanding Forex Leverage, Margin Requirements & Trade ... Use Low Leverage to Survive the Forex Markets 👊 - YouTube Spreads OANDA VS FXCM HOW TO GROW $100 TO $2,000 IN 3 DAYS TRADING FOREX IN 2020 ... Lesson 10: All about margin and leverage in forex trading ...

As a trusted global brand, OANDA provides forex and CFD traders a limited offering of FX pairs and CFDs but stands out for its reputation and quality market research. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money ... And leverage as high as 1:500 is provided by a number of forex brokers, including some reliable and well-regulated ones. In order to be a successful trader, however, you need to fully understand the nature of leverage, how it works, what are the risk associated with it, and how to reduce them. So you may be wondering then how do i find US Forex brokers with high leverage? The answer is you cant, not within the United States. The maximum amount of leverage you can get is 50:1 with brokers like IG Oanda and FOREX.Com. The only other option now is to find a Forex broker that operates outside the United states and that allow US client to open up trading accounts. Ihre verbrauchte Margin ist die Positionsgröße x Margin-Anforderung = 10.000 EUR x 5 % = 500 EUR. Die verbrauchte Margin in Ihrer Kontowährung = 500 x 1,13205 = 566,025 USD. Berechnen der verfügbaren Margin. Die verfügbare Margin ist 0 oder Ihr Nettoinventarwert abzüglich Ihrer verbrauchten Margin, je nachdem, welcher Betrag höher ist. Wert für die Margin-Schließung berechnen. Der ... Some major forex brokers cut leverage due to Coronavirus-induced volatility Apr 06 2020 12:53:26 Jonathan Smith in Market. Dukascopy, IG, Admiral Markets, and Oanda Japan have decided to lower the leverage levels for certain instruments in light of the increased market volatility created by the Covid-19 pandemic. Learn more around margin and leverage and how OANDA offers competitive margins within 70 different major and minor currency pairings. We use a range of cookies to give you the best browsing experience. By continuing to use this website, you agree to our use of cookies. OK close. Choose another country or region to see content specific to your location Trading expand_more. Products & services ... Die meisten Forex-Broker bieten Leverage bis 1:100, 1:200 oder 1:400. Einige Broker lassen die Kunden mit Positionen 500 mal größer als ihre Einlagen handeln in dem sie einen Leverage 1:500 bieten. Wenn ein Händler $1000 hinterlegt, kann er mit mit $500 000 handeln. Unten folgt eine Liste mit diesen Brokern.

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Understanding Forex Leverage, Margin Requirements & Trade ...

Low Leverage Almost Guarantees New Forex Traders will Survive position sizing http://www.financial-spread-betting.com/Slippage.html PLEASE LIKE AND SHARE THI... Click Here To Start Trading With Hugosway 👇https://www.hugosway.com/?cmp=3l0g1x2i&refid=2380 SUBSCRIBE FOR MORE VIDEOS LIKE THIS. ️https://www.youtube.com/c... OANDA Review 2019, Pros+Cons, Bonus, Demo & More - Thediaryofatrader.com - Duration: 5:52. The Diary of a Trader 18,109 views Get more information about IG US by visiting their website: https://www.ig.com/us/future-of-forex Get my trading strategies here: https://www.robbooker.com C... Understanding forex leverage, margin requirements and sizing trades for successful trading.

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