I have $5000 and I'm interested in trading forex. What are the best brokers on the internet?
Also when they say minimum trade size micro unit (1k) does that mean I have to buy at least 1000 units which is for instance for a currency (1.05) $1005?
Also what is the lot size? Is that the range of profit/loss? Like instead of gaining $1 for 1 pip gain $10 if I change the lot size?

Thanks

Answer
Wow... you're on your way to an unbelievable surprise.

There are no good Forex Brokers... there are only Forex Brokers that are not as bad as most.

The first thing you want to consider is where is the corporate headquarters (what country?). Assuming you're from the USA... make sure they are licensed in the USA. Do not, for any reason, deal with a Forex Broker not licensed in your home country.

The next thing is to compare the "spread" charges. All these brokers advertise "no commissions".You'd actually be better off with a commission charge than the way they charge (by the spread). Make sure that the pairs that you'll be trading have comparatively smaller spreads than the competition.

No matter what you see on the web (especially from the brokers)... understand that it will take, on average 3-5 years to be profitable in any type of trading. Forex traders usually destroy their account in days, weeks or months.

The free "classes" taught by the brokers are a joke. They concentrate on the least important aspect of trading, which is Technical Analysis. The two fields of study, significantly more important are;
A. Psychology (yours and the markets).
B. Risk Management.

Read 6-12 books on trading and another 2-3 books on Forex Trading before you open a Forex brokerage account.

Good luck!

What is the best forex broker in the USA? Low spreads, easy funding and withdrawing methods and etc?

Can't seem to find a decent one out there. FSA regulated and has the metatrader 4 platform

Answer
Hotforex is a good broker, they have very low spreads, low deposit, ecn, micro accounts, mt4 but no fsa, they are regulated by FSC