Is forex trade profitable? How does one get started and what is the best broker to use?

Answer
Hi,

Of course forex is profitable and it is very exciting business. You may trade 5,5 days per wheek; 24 hours a day from Sunday night to Friday night.
Main rules to win:
Always have trading plan,
Be patient - market always be there
Don't be greedy,
Don't set too big goals,
Never risk more than 1%-2% of your trading capital,
Always use reasonable stop loss orders.

And note markets are not places - markets are people.

If you are interesting I could introduce you to one of forex broker leaders that is located in SWITZERLAND and Regulated by the Swiss Federal Department of Finance; audited by KPMG.
They have very tight spreads. Total 25 currency pairs Gold and Silver.
SPREADS:
2 pips for EURUSD, USDJPY, AUDUSD, EURGBP, EURCHF;
3 pips for GBPUSD, USDCHF, USDCAD, EURJPY;
4 pips for CADJPY, CHFJPY;
5 pips for NZDUSD, AUDJPY;
6 pips for EURAUD, GBPCHF, NZDJPY;
7 pips for EURCAD, GBPJPY;
8 pips for GBPCAD, GBPAUD, AUDCHF, CADCHF, NZDCHF;
10 pips for AUDCAD, AUDNZD.

LEVERAGE 1:200 default but client could chose the leverage from 1:1 to 1:200 at the account opening procedure.

MARGINS. The margin or leverage a client can have depends on the client's account equity. The table below shows margin requirements for the different equity levels:
Less than 25,000 - 0.5%
25,000 to 1,000,000 - 1%
1,000,000 to 5,000,000 - 2%
5,000,000 to 10,000,000 - 3%
Above 10,000,000 - 5%
Please note that on weekends and holidays margin requirements remains the same.

SWAPS are counted as negative as positive. Also is available swap-free accounts.

STOP and LIMIT orders may be placed as close as 5 pips from market price

TRADING TERMINAL Meta Trader 4.

Clients can choose to have their accounts denominated in either USD, EUR, GBP, JPY, CHF, AUD or CAD.

Initial account opening deposit from US$2000. From first view it probably looks high comparing with other brokers who allow mini accounts and minimum initial deposit from USD250 but it is more useful and safer because clients are more protected from quick stop out and total loss of the initial deposit in the case if unfortunately it would be several unlucky trades in rage.
This is regular forex trading account however it is allowed trading in mini lots (from 0.1 lot).

If you are interesting I could introduce you to them please e-mail or PM me (press on my name) and I provide you with further information. Furthermore I could provide you for FREE with more than 50 trading e-books and trading systems that worth more than several thousand dollars and are very useful as for beginners as for experienced traders.

If you have any questions, please don't hesitate and contact me (press on my name).

Good luck!

How does ForEx leverage work?

Let's say I deposit $500 into an account. The broker gives me 200:1 leverage. What can I buy on a EURUSD exchange with that? Some brokers automatically set a 100,000 unit buy? I don't understand...

Answer
At 200:1 buying the EUR/USD (based on today's EUR/USD price), one standard lot (100,000) would require about $720 worth of available margin. Most brokers will allow an account to trade down to a lot size of 0.1 standard lots(one mini-lot) requiring about $72 worth of available margin. Finally, there are a few brokers who allow a minimum position size of 0.01 standard lots (one micro-lot) which would cost about $7.2 of available margin.