First question, is $500 enough for forex trading? and gaining 1 pip from $500 is how much?

second question, other than Marketiva, what are the other forex broker that accept e-gold and which one is the best?

of course you can start as little as $50(provided broker allowed), start your pip scalping with that margin with small profit. how much 1 pip worth is depend on which currency pair you trade with, visit this http://www.babypips.com/school/know_your_ps_and_ls.html to know your pip value.

Other than marketiva, not many broker accept e-gold payment, below are some brokers accept e-gold:
1. Northfinance
2. liteforex
3. forexyard
4. moneyforex
5. forexegypt

another question, if i deposit $500 into my account and use 1:200 leverage. so now i am using $100000 to trade.

so if one day i buy GBP/USD @ 1.9818 and made a mistake and sell off @ 1.9700

1 pip is $10

so now I am making a 118 pips loss which is $1180 loss. so do i have to pay $1180 of losses??? and i am using e-gold, can i just dun pay???

Your position will FORCED CLOSE to prevent you from losing more than your initial deposit!!

don't worry, your broker won't make you broke as to owe them -$680. Your trading has NO way drop to negative deposit.
"Margin call" always come to knock on your door when trend goes against your position if you no put SL to protect yourself.......
Up to a stage that your account become a few penny, by then you can't even open a position, you can do nothing but to fund your account again with e-gold.

Making that 1 pip is not easy because it's hard enough to just recover the spread ...

having 500$ count to trade, a good choose could be gcitrading.com accepting funds from paypal and reported at forbes news

you can trade there not only forex but also stocks from different countries.

My really reccomend is diversifying your account and account manage

Exactly. overcome a currency spread is hard. Trading in particular time zone for particular currency pair comes into play..

$500 is enough.. use mini account.. that would be much safer..

for e-gold.. i think only fxegypt is reliable, accept egold and people offer rebates..

thx for all the replies.

another question, sorry

if i buy @ 1.9818 as above, how much pips loss will I have to make before they close my account?

it depends on the pair? depends also if you have mini account?

then trade currency futures... No spread with my broker only commission

$500 is absolutely enough to begin... and even less. Just make sure you are with a broker that allows micro lots. Interbankfx comes to mind, FXCM and GFT do not, I know that much.

And perhaps OANDA.......

I'd also recommend you finding broker with Stop Loss function.

i think u shouldn't use egold anymore until the case is settle...

and yea $500 is sufficient if your skill enough

500$ is enough if you use mini account and it's all depends on your Strategy, Even with 200$ for newbie is enough to learn the chapter of emotions in start.

To topic starter, the answer is NO.

no it's not.

why is it not???

becuz it's not enough that's why

but using 1:200 i can turn 500 to 100000...

yeah mayb but it can turn 500 to 5cents too...

Please do not try to trade the forex market if you have no idea how much to trade and how to trade the forex market. Forex is a very very tough and very dangerous place to trade if you do it wrongly and if you don't set stop losses and etc, you might find that your $500 would become $5 in a very very fast and short time.

I've personally lost about $10,000 in one night of trading itself. So please be really careful and know what you're getting yourself into before trading the FX market.

Learn up what is what before starting or try out how to trade FX on their DEMO mode before you really start. OK?

Good luck and all the best in gaining money in the FX market.

Ps. $500 is enough to start. Don't mind the rest of the people here saying no. As a full time Investor, I could assure you that $500 is more than enough to start and if you're good enough, you'd be able to make about 3-5% each day/night of trade. which is not too bad.

Compounded at 3% after about 30 days trading, you'll have about 240% return already. So $500 is definitely enough to start. Just don't be greedy. That's where most traders fall. GREED!

$500 not is enough for full time trading (trading with less risk) $500 is enough for starting trading in real field (live trader) with big leverage (1:400 , 1:200). i prefer $10 000 (1:50)

just my opinion

it's enough, trade micro mini. And remember, money makes money. If you start with small equity, don't expect huge returns. Be satisfied with small profits and compound it.

agreed also...

Oanda.com is a very good broker...and they got no minimum deposit requirements.

Customer service is excellent.....highly recommend.


Litforex.org also very good. can start with small amount of money.


Jimocean

hello
i need to earn some money
can anybody tells me is there any egypt english language version
forexegypt.com english version??

Yes it is enough - that is the value I started. This is my history when I started to be profitable:

My monthly results:
forex miniaccount, 1 minilot = $1
1th month - $500
2nd month - $800
3rd month - $1000
then I changed 1 minilots to 2 minilots
4th month - $1300
5th month - $1600
I changed 2 minilots to 3 minilots
6th month - 2500
...
when I earned $5000 I decided to open standard forex account and trade with full lots (1 lot = $10)

I am earning 2-7K dollars monthly. Last month (July) I earned 6K.

Trading is really great if you have a system, but painful if you haven't and lose money.

It is not that easy! Well let us say not all traders can trade with $500. It depends on risk management, leverage, lot size. And most important, trader skill.

If you have achieved good skills in trading Forex, then you might try a small account with Oanda for example. 50:1 Max leverage, you can control your loss and allow your profits grow but slowly, you can get there

with best regards

sorry for not open a new topic, but I really want to know;
If I open an account with US2000 and leverage 1:200, and my target is US100 daily, how much lot and how many pips should I get a day (a safest way)?

Thanks

Hmm, I don't understand you... standard account: 1 pip = $10, mini account: 1 pip = $1
Example: If you buy EUR/USD at 1.3500 and exit at 1.3550 then you earn 50 pips. That is $50 on mini account and $500 on standard account.
The leverage has something with margin. Example, if you use 1:200 then you need $60 to have on your account to open position on EUR/USD mini account and $600 on standard account. Ask your broker (helpdesk) for margins or look for some calculator or table on his site platform.

wow!!!!! am really impressed!!!!!!!!

...here the link to Oanda

http://fxtrade.oanda.com/

Most of the brokers, we can open regular account with $5000, so we use mini account with $2000....
If we trade 1 minilot, 1 pip=$1, but if we open 2 minilot (or 2 same position, we need 50 pips to get $100, and if we open 4 minilots, we only need 25 pips to get $100, right?)

So, which one (if I'm right, corret me if I'm wrong) do you prefer (or ADVICE), using a bigger lot or target a bigger pips? And the risk both of them?

$500 is certainly good enough for a start in my own opinion. Only ensure that you open a micro account or use a broker that allows you input your position by hand (like Marketiva). On Marketiva's platform, you can trade say 5000 quantity meaning you are using $50 out of your $500 for the trade. I advice that you never exceed trading more than 10% of your capital in total open trades at any time.

The amount you start with really shouldn't be centre-stage. If you have a profitable trading system, in the process of time, your account would surely grow. You can also use the power of compounding to your own advantage.

Hope this helps?

FYI - FxCBS Accept Liberty Reserve if that's any good for you?

You won't and don't expect to learn alot about forex here. Go to www.babypips.com. Visit their forum and their school and they will help to get your question answered.

If you're expecting a quick and easy way of making huge amount of bucks then I'm afraid you're very very wrong here. Forex trading is not easy at all. 95% of the traders lose money and quit, mainly due to lack of education and poor money management. It's a hard fact I hope most forex newbies can understand you need to put in lots and lots of effort and time.

Forex trading is one of the few things in the world when you can do everything right but still get the wrong results in the end. It can be very frustrating experience but when you really make it, it's worth the hard price!

no no no, if you can trade with 0.01 lot, why use that much?

There are forex brokers that allow to start forex trading from $50.

Forex-metal broker allows trading with as low as $50 and they're good. I have a bigger account with them though.

Can someone explain all of this to me? I'm new to the Forex world. I noticed this post by AvatarViper, and I wanted some help in understanding how AvatarViper got those calculations.