I receive an email with part of the following: "This is to notify you that we have verified your data sent across to us and have come to the satisfaction that you are the eligible beneficiary to the declared prize money of £800,000.00 from the Yahoo Sweepstake Lottery Board.We have to this effect, approved the attached winning certificate and the insurance cover certificate on the won sum of money in your names.You shall henceforth be obliged to commence communications with the transferring bank Barclays Bank of London via email on:barclays_forex_uk@yahoo.co.uk, for onward remittance of the sum £800,000.00 into the bank account information you shall give.

I, on behalf of the Yahoo Lottery Management Board,congratulate you once again and urge you to continue to patronize us as we continue to meet with your ever increasing demands in internet communications.We remain,

Mr Peter Adams.
(Co-ordinator, Yahoo Lottery Board)

Answer
It's a scam. Forward it to abuse@yahoo.com

What is the cheapest forex broker out there?

I would like to know about forex brokers that offer low balance accounts. Do you have any recommendations? What about forex research? What are all the important events or meetings that affect the forex market?

Answer
trading is like a university education, it requires on the order of 10 to 20 years to become proficient and you have to be ready to accept it as a full time career. With that said, the broker that I use is oanda. I use this broker mainly because it allows smaller lot sizes which allows me to be very flexible with my exposure.

My recommendation- do not trade with less than 50k account. Do not trade live until you have risk capital (money that you will not need or regret losing) or minimum few years on paper accounts.

Forex research is a huge topic. Do not fall for technical analysis, it works in some situations, but the best bet would be to read the prices correctly via price patterns and timing. Do not trade during non farm payrolls or during tokyo and NY lunch hour. Trade during the overlap of US UK sessions for best liquidity. Watch for inflation levels, what central bankers say (and if what they are saying is just a warning or if they are serious about it).

For example you would want to monitor the japanese central bank decisions right now because their currency is strong enough to make their bank sell it to lower the price to keep exports competitive.

For CAD, watch for gold prices (oil is their major export). ect.

FINALLY: the only way to make money in forex safely is with law of large numbers in terms of capitalization. You have to have an account upwards of 50 mil, so this is not a get rich quick thing. The real money lies in market making and dealing.