for people who wanted to start forex, i think better get a mentor to start.
me myself had a mentor, so when i started i didnt fall to an unreliable broker.

Mentor? Your friends / family?

A lot so called guru outside, that chew your money and step over your dead body.

not that kind of guru. mine was my officemate. he had been trading for years before i started. tried few brokers himself.

never talked about strategy. his own style.me own style

so which broker do u recommend?

not to say am recommending but am using alpari uk now

good. lucky you got a good friend there.

escape from the hand of devil haha.

alpari uk is good.

anyone know a broker which accept low deposit for micro account? alpari min is 200$

for low deposit i use fxopen

Micro account i use fxopen. No minimum deposit if not mistaken.

Guys, can somebody explain to me the leverage term ? 1:1 , 1:50 , 1:100 , 1:200 .. What is all the difference ? And brokers providing tighter spread would be better right ? FxPrimus account for spread is not as tight as Alpari or OANDA ..

i recommend ikofx as myself as a official supporter for ikofx malaysia. Anybody open account under me also will get 0.4pips rebate every month. If anybody wanna learn basic forex trading from me also can, no payment required, just pay for me maggi goreng and teh tarik

try google for leverage.
tighter spread is better. but depends on your trading style. Scalper and news trader will need a good spread.

Read quite a few but still dont really understand. Would appreciate an explanation with easy examples.

Leverage

I make it simple, lets explain in this way.
1 standard lot = 1.00 lot = 100,000 units = 10.00 USD/pip

EurUsd current quote @ 1.36500
to OPEN a position long / short, you need 136500.00 USD for 1 standard lot with 1:1 leverage.
to OPEN a position long / short, you need 13650.00 USD for 1 standard lot with 1:10 leverage.
to OPEN a position long / short, you need 1365.00 USD for 1 standard lot with 1:100 leverage.
to OPEN a position long / short, you need 273.00 USD for 1 standard lot with 1:500 leverage.

So you understand what is leverage?
It works like a loan from your broker to you.

You use less margin to open a higher value position.

In 1:1 you need 136500.00 USD to open a position for 1 standard lot, but with 1:500 you only need 273.00 USD to open the same lot.

But be careful using the leverage.
It's a double edge sword.

It helps you in the way, but it also harms you in another way if you suffer a loss.
You can't imagine how much you're losing with that standard lot.

Steady is the key. Never trade big, thats gamble.
Stick to the plan.

Maintain Risk:Reward = 1:2 / 1:3 / 1:4
Never set 2/3/4(Risk):1(Reward) widen your Stop Loss doesn't work it will burn your account.

0.20 Usd/pip +47.9pips during sleeping time.
Don't be greedy, greedy will make you burn.

Good luck and Happy pipping.

This post has been edited by zDarkForceSz: Jan 29 2014, 01:08 PM

prefer forex.com -
reliable broker/public listed/
cash in/out by maybank debit card only
spread ok, minimum $250

at fxopen i wanna try an demo account but it has mt4 ecn and stp can some1 tell me what is the difference?

lot of broker currently... depo using e-currency/local depo/debit card...
trade wise... trade for living... do not over trade than u jump to gambling.

if u new..u can start with demo acc at any broker.better to try as many broker as u can before jump to live trading.
u can also start by joining the contest or competition that provided by the broker.start with free contest first.this is a good platform for u to test ur trading ability and learn more about the broker.u can learn about spread,reqoute and news trade because not all the broker are same.

always go for regulated broker for live trading.search for the broker review on the net.wellknowned broker u need start with atleast $100+ and mostly $500 minimum.but theres alot of not so wellknowned broker that u can start with small amount $10 - $100.the main issue with not so wellknowned broker is their depo and wd..make some profit and try to wd.if u dun have any difficulties with their depo,wd process and their support is good u can continue with them.

u can refer my blog to find out more about FXNet.one of the regulated eu broker.the minimum depo is only $10 .