regarding forex trading

January 1, 2011 9:46am CST
Anybody join Etoro forex trading. I have joined few days ago in etoro, but after joining there was a call in my mobile and ask me have you any knowledge about forex trading and how much you have to invest? then I reply him that I decided to invest 50 dollar initial, then he told me that it is totally waste of time and money and initial investment should be within 200 to 300 dollar. I want to know that is that true 50 dollar investment is waste of money, because etoro is offering 50 dollar initial investment. If anybody has idea then share with me.
1 person likes this
5 responses
@Lisander (273)
• Armenia
2 Jan 11
I have registered in the past with two of such brokers that imediatly called me back and were very insistent in knowing if i intend to deposit and how much. I told them that I don't intend yet, I just want to try there services with virtual account. They were insistent and I forgot about them. After all there are brokers who gave bonuses, I use the best one of them. One of them called me after one minute after my reg. and asked do i know how to verify? I was just trying to find were in their site to do that. Miraculously after their call the place to verify appeared. She called again and again but i didn't take the call. If the broker needs to use such tricks it isn't good. Do not invest more then 50$. With mini accounts you can trade wonderfully with 50$. Search brokers who allow to trade with 1$. And put that 50$ there and use only 5-10% when trading. That way you will not lose much. And i think you will easily make 1$/ day with that. Check babypips free school site and graduate the school there before starting. And don't listen to your broker if he says invest more. They don't have a right to do that - to tell inexperienced trader to invest more money. They must advise to trade with virtual account first, and then invest only the money that you can afford to lose. That’s what my broker says. They are honest.
• United States
4 Jan 11
This sounds solid to me. I have been interested in investing for a long time however I don't know enough about minimums. I will check this out for sure. I only want to try to make a little bit to see how it works, and only for fun not for a living. I don't need someone telling me how much I need to put in.
@warvial (1154)
• Singapore
2 Jan 11
Hi, I got the call also but the communication line was very problematic, always breaking up and I ended up hanging up on them. Anyway, I have a free account with another forex trading app which provides $5 real cash and 10000 virtual cash as a start. So far, my $5 has only grown till $5.46. Thus, doing the math where $5 becomes $50, and $5.46 becomes $54.60, thus it's minimal profit for minimal investment capital. If you have minimal forex trading experience, it would be better that you start of with virtual accounts that does not involve real cash because of the risk it involves and you also can get a hold on how the trading works. Note: if you want to withdraw money, you have to provide documents such as your NRIC copy etc to them.
• India
2 Jan 11
Thanks a lot for your opinion
@greenline (14864)
• Canada
15 Jan 11
I have not joined the program yet. I have been thinking about it. I see the banner online all the time. In the first place, I am very new to forex trading, and I have heard a lot of stories about the risks. I should be very careful and check thoroughly before entering the business.
@tonyllenium (6266)
• Italy
4 Jan 11
mmh i think it depends how much you can apply a good strategy to markets when you are trading so surely as regards the starting investment it can't be so big but if you found your system to survive on the market you can earn even with 50 dollars..not much but you can earn...
@derek_a (10902)
1 Jan 11
MOst trading is just a form of gambling and I don't think the Forex trading is any different. You really have to know what you are doing when trading in this way as you could lose everything as many people have done so in the past. In the present financial climate it is said that the only safe investment is gold, and again you have to know when the best time is to buy and when to sell and real money can only be made if you invest enough and get it right. If you haven't traded before, get someone to explain it to you who has done it successful and follow their advice and learn more about it. But it is always a risk, even for the old hands at it. If you think of the Wall Street crash and remember how people lost their homes, jobs and everything else they had, then this is what need to be born in mind when considering this sort of investing. Good luck for 2011.. _Derek