Frequently Asked Questions
Q: Isn't Forex trading extremely risky?
A: It can be. If you take your time to learn the markets, and establish
consistent rules that govern your trading, you can significantly reduce
the risk. Having a solid stop-loss, as well as a clearly identified
profit exit point can go a long way to this effect.
Q: Don't I need a lot of money to get
started?
A: You can start a practice account with zero money. And you can start
trading with as little as a hundred dollars. We recommend that whatever
money you do start with is what you'd consider risk capital, or money
that you can afford to risk.
Q: Isn't it too complicated?
A: With so many software programs that explain everything so clearly,
Forex trading is simpler than it ever has been. Despite have little or
no background in the financial markets, many beginning traders have been
able to amass a considerable amount of wealth in a relatively
short time.
Q: Isn't Forex trading a scam?
A: There are several automated trading programs on the market that sound
to good to be true. Along with many brokerages that promise easy and instant
riches, it can be easy to see why it would seem to be less than
professional. But the international, trillion dollar daily market is
regulated by international authorities.
Q: Doesn't it take too much time?
A: You can spend as much or as little time as you'd like. Many
successful traders only spend a few hours a week, and that is enough to
make consistent and substantial profits. Of course with any new
endeavor, the more time you put in initially, the better.
Q: Can I practice without any money?
A: Absolutely. We recommend that everybody try a free, no obligation
trading account to get their feet wet.
Q: How soon can I expect to see results?
A: As soon as you feel you are ready to invest real money. Some see
results right away, while others need to spend more time before they
feel comfortable investing real money.
Q: Can I get a managed account?
A: Account types vary from brokerage to brokerage. Managed accounts
generally require a much higher initial investment.
Q: When can I trade?
A: The markets are open twenty four hours a day, five days a week.
