Online NZ Forex Website Recommendations

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mpvincent

83 posts

Master Geek
+1 received by user: 1

#42556 6-Oct-2009 22:16

Hi all,

Looking for some advice on good online forex traders. Thinking some bucks could be made on buying $US and GBP at the moment. Guess looking for low fees, good rates, good rep and flexible modern website with some tools.

Thanks

Mike.

casper021

96 posts

Master Geek

#261934 7-Oct-2009 08:03

Currency trading as not as easy as some people may think if you have not traded before I would recommend first reading some books about it or talking to professionals or just open a practice account with forex and see how you go.
Otherwise I have heard that cmc markets is quite good, also heard some good things about nzforex

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magu

Professional yak shaver
1599 posts

Uber Geek
+1 received by user: 7

Trusted

BitSignal

Lifetime subscriber

#263272 11-Oct-2009 13:53

CMC Markets is (are?) a good place to start. They have some nice tools for people new to trading as well as powerful tools for the more advanced.

"Roads? Where we're going, we don't need roads." - Doc Emmet Brown

NonprayingMantis

6434 posts

Uber Geek
+1 received by user: 1528

#264248 16-Oct-2009 12:24

First read up on the efficient markets hypothesis and random walk hypothesis , then realise that currency trading is a zero sum game (every gain soemone makes must be offset by a loss someone else makes) and finally realise you will be competing against people who have been doing it their whole life, and computers who can make trades in microseconds and take advantage of arbitrage opportunities faster than you can even know a price has changed.

Then, give up. Any money you make will be purely down to luck. Might as well play the pokies.