Forex Challenge - $2000 every month!!!

[findvikas]

Currently I am not trading at all, earlier I was with Oanda and still have that account active but I am working out with InterbankFX for a new account and will be trading with them.

 

[vssoma]

Dear vikas,
can you give idea about forex training, from where to start and how, an easy way to study the forex market.
thank you,

 

[Sarfraj]

vikas i am trading wih liteforex... can u give some idea about forex trading

 

[surya_sun]

Currently I am not trading at all, earlier I was with Oanda and still have that account active but I am working out with InterbankFX for a new account and will be trading with them.

Vikas,
Pls do share the exp with InerbankFx as I am also thnking of opening with them.
tnx in advance

 

[findvikas]

It was fairly simple and I do get my account opened today. I choose the Mini Account as I will be starting this $500 -> $2000 journey on this account and also keep my existing Oanda account for my Silver trades only.


Here are the symbols supported by the IBFX's Mini Account and the selected ones are the one I would be limited to.

Their spread is wider and I could not find a single broker who has as tight spread as Oanda but that does not matter as I would be trading only 1H & 4H charts from now on.

The benefit you have with IBFX is their international Debit card which can be used to withdraw funds from your account directly from any ATM across the globe in local currency, ofcourse with monthly charges & transaction charges still it is a good deal even if you are able to fetch over $200 per month I think it makes sense.

 

[ag_fx]

Their spread is wider and I could not find a single broker who has as tight spread as Oanda but that does not matter as I would be trading only 1H & 4H charts from now on.

The benefit you have with IBFX is their international Debit card which can be used to withdraw funds from your account directly from any ATM across the globe in local currency, ofcourse with monthly charges & transaction charges still it is a good deal even if you are able to fetch over $200 per month I think it makes sense.

Try FXPRO.

Most of your withdrawal conditions are also met with them. But, their min lot size is 0.1, which can hamper your MM at times. Just check them out for reference.

 

[mehtaka]

hello vikas...
I am trading in commodity mkts...and have keen interest in forex. my quries/questions is....
Do you pay your broker in INR or iin Dollar?...

It you pay in INR, what rate they convert them into Dollar?...and If you pay them in Dollar..what rate you comvert?

Also, we need to take in account the INR Dollar rate, while making profits/loss?...

Take for example....
I have 10000 rs INR/USD is going arnd 47..
I will pay my broker 212$

During the course, my portifolio went till 250$...but the INR got down at 46...
This will impact my profit ratios?..

Hope my point is cleard..

 

[findvikas]

Try FXPRO.

Most of your withdrawal conditions are also met with them. But, their min lot size is 0.1, which can hamper your MM at times. Just check them out for reference.

Thanks Bro and trust me I got your words engraved in my mind... hope they stay "as is".

I just applied for them... its damn easy to get a FX account these days when you compare with DMAT account. 1..2..3... go

Yeah they look quite close to Oanda in terms of spreads while Oanda implement fixed spreads in high volume session/low volume session and they have flexi spreads which keep changing throughout the day... atleast what I noticed from their demo account.

 

[findvikas]

hello vikas...
I am trading in commodity mkts...and have keen interest in forex. my quries/questions is....
Do you pay your broker in INR or iin Dollar?...

It you pay in INR, what rate they convert them into Dollar?...and If you pay them in Dollar..what rate you comvert?

Also, we need to take in account the INR Dollar rate, while making profits/loss?...

Take for example....
I have 10000 rs INR/USD is going arnd 47..
I will pay my broker 212$

During the course, my portifolio went till 250$...but the INR got down at 46...
This will impact my profit ratios?..

Hope my point is cleard..

Yes I paid in USD initially from one of my friend's paypal which is in USD. The rate you get is usually the SPOT price of USD in International market and its usually calculated only twice a day and not really adjusted on real time + 2.5 - 5% charges depending upon the broker/credit card company.

About the Forex Losses/Gains... its very true and you do have to go through that but it does not matter much unless you are funding/withdrawing thousands & thousands of USD.

 

[findvikas]