Best Forex Brokers
The Best Forex Brokers for Beginners
Can forex trading make you rich? ... Forex trading may make you rich if you are a hedge fund with deep pockets or an unusually skilled currency trader. But for the average retail trader, rather than being an easy road to riches, forex trading can be a rocky highway to enormous losses and potential penury.
10 Best Forex Brokers – Our Broker Reviews
The popular forex trading platform
MetaTrader is one of the most popular trading platform apps for retail investors using Android devices and allows for the trading of stocks, forex, futures, options, and other financial instruments from your mobile device.
Even so, with a decent win rate and risk/reward ratio, a dedicated forex day trader with a decent strategy can make between 5% and 15% a month thanks to leverage. Also remember, you don't need much capital to get started; $500 to $1,000 is usually enough.
There are several reasons forex can be an attractive market, even for beginners who have little experience. The forex market is accessible, requiring only a small deposit of funds for traders to get involved. Also, the market is open for 24 hours per day/5 days a week (it's closed for a short period on weekends).
While there are some extremely wealthy individuals who continue to get rich trading forex, the percentage of these when compared to those losing money overall, is very low. Heck, it's estimated that up to 95% of forex traders lose money. The chances of getting rich in forex trading are in fact, quite low.
How to Trade Forex with $100
With a $5000 account, you can risk up to $50 per trade, and therefore you can reasonably make an average profit of $100+ per day.
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