03 Jun 08 Start Trading Forex for just $50
Today, I came across a website, RetailFX which enables you to trade in the forex market online. I was amazed at the ease with which one could get started with Forex Trading. Opening an account is simple and investors could open an account with just $50, which is approximately Rs. 2000. With RBI easing restrictions related to foreign investments, it is now legal for Indian investors to trade in the forex markets through the Forex Platform provided by various leading international forex market makers.
One big advantage that trading in the forex market provides when compared to trading in the stock markets is the flexibility available for forex traders, considering the fact that most forex markets are open 24 hours a day. Another advantage is the huge leverage available to forex traders. Infact, leverage will allow forex traders to buy or sell $ 10,000 USD with only $25 margin deposited in their forex accounts. However, traders need to understand that its is not all roses and petals out there. The risk is summarised well in this wikipedia article on Forex Scams which quotes a New York Times article
“The forex market has long been plagued by swindlers preying on the gullible. The average individual foreign-exchange-trading victim loses about $15,000, according to CFTC records.”
However, since forex trading (similar to equity trading) is a zero sum game (assuming transaction costs to be negligible), one man’s loss is another mans gain. With proper fundamental as well as technical analysis, forex trading does seem to be a profitable option for investors to generate good short term returns.
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please give full information gow to start forex business.
please give full information how to start forex business.