How forex paper trade works?
Question:
Answer:
Hi Satya,
There are no scams involved in paper trading...what are they going to do steal your "paper"?
You can simply go to any Forex broker and setup a demo account and actually trade in the Forex marketplace the same as you would with a real money account. It is the perfect way to learn. I don't recommend that any of my new clients trade real money accounts until they have paper traded for a month or more.
Most of the brokers also have free educational links that are pretty good. I like to recommend www.babypips.com as a great starting point for learning Forex.
As far as which broker to use they are pretty much all the same. I personally use GFT and Interbank FX because we have negotiated institutional rates that are not available to regular retail clients.
I also just noticed today that InterbankFX has just started a free IBFX University. I flopped around in it and it looked awesome. You might want to check it out at http://www.ibfxu.com/
Good luck and have fun. Remember with papertrading you can't break anything and you can't lose any money.
Paul
Beware the scams!!!!!!!!
1. The days of paper trade are over. Now you can do it electronically
2. Just download a Demo Trading Version. Most Trading portal have a Demo version. I like FXCM. It will give you a report of all trades. Demo.
3. You can view a video of the demo @ http://www.geocities.com/lcming/forexboo...
[Download also the trading reality checker utility - that shows how you average over a period of time.]
4. And also some valuable Forex Books for novice and experienced Traders
http://www.geocities.com/lcming/forexboo...
5. Go to http://www.geocities.com/lcming/forexfor... for more resources.
6. Extra Valuable Info @ http://www.babypips.com
More Related Questions & Answers...