My forex account manager gave me an opportunity to buy gold at a lower price (1650$ per ounce). Is this legit?

He told me we will make a lot of money, however I believe this is a scam. Can someone please ecplain?
submitted by JADONSANCH0 to Gold [link] [comments]

State of the union helped the state for my forex account.

State of the union helped the state for my forex account. submitted by Yoloking25 to wallstreetbets [link] [comments]

[FOREX Real Money Balance Update] After depositing $496 into my Forex Account at the beginning of this month, today I officially doubled my account balance and crossed over $1k due to $443 in Net Profits this month. I still have 1 more trade idea tomorrow, but I'm proud of my accomplishments so far!

[FOREX Real Money Balance Update] After depositing $496 into my Forex Account at the beginning of this month, today I officially doubled my account balance and crossed over $1k due to $443 in Net Profits this month. I still have 1 more trade idea tomorrow, but I'm proud of my accomplishments so far! submitted by Rebel-Wit-A-Bezel to u/Rebel-Wit-A-Bezel [link] [comments]

Trying to deposit money into my Forex account. Declined/refused.

Do I have to go to my bank to let them allow me deposit money into my Forex account with my Thai Visa debit card?
Has anyone got experience with Forex in Thailand? No luck depositing so far. My card gets rejected every time I try. I could use this card for any other payments like Agoda 2 weeks ago.
Thank you.
submitted by prody92 to Thailand [link] [comments]

Need help on deciding my forex account’s base currency

Hey I’m a 21M from Australia and I have 5k-10k AUD, 5K USD, 2k GBP and 6-7k EUR that I’m looking to start out with (I’ve been traveling and never converted my money back). I’ve been trading forex on a demo account for a few months and I’m ready to create a live account. I have a multi-currency bank account with my local bank so it would be possible to deposit/withdraw with it and wouldn’t need to instantly convert it at withdraw.
I have a job in Australia and earn 5-6k AUD p/m so I don’t need the profits from forex and would probably use it to buy stocks (NASDAQ and NYSE so would need USD). Since I have quite a few currencies to fund my live account with, I was just wondering which one would be more beneficial to use in my situation and why.
Here is what I’m roughly thinking. AUD has been dropping and has been dropping for the last 3-4 years due to mining industry being shut down (mining is/was the main income of Australia). So I feel AUD is likely going to keep falling. Plus, Australia has very little going for it in terms of economy.
Brexit has killed GBP. GBP is being under siege by the EU leaders by trying to make it as difficult for Britain as possible with the trade rules and taxes. And it seems like people would need to have a British Passport to stay in Britain and work in Britain so millions of working professionals will be forced out of the country. So it seems like a lot of Britain based businesses would be hurt because of it. Since USD is considered to be the global currency and their economy seems to continuously bounce back after the collapse of the housing market, 911, etc. It seems to me that USD may be the safest currency to fund my forex account with since its unlikely to lose much of its value over a long period of time.
Europe is in a pretty crappy situation with their ‘open boarders’ being flooded by illegal refugees. I don’t know much about Europe’s politics and incomes etc. (which is a shame because I’m from Europe) but from what little I know, the big economy leaders in Europe are Germany, France and Britain Netherlands, Sweden etc. And now due to Britain exiting the EU it seems like Europe is going to be left with a lot of poorer countries with poor economy. So this whole Brexit and migrant crisis is a big turn off for me from Europe and the Euro in general.
TL;DR: From Australia, have AUD, USD, GBP and EUR left from travel/work and ready to fund my forex account. Not sure if I’m going to stay in Australia, but not sure where I’d move. Which currency would hold its value strongest over time. And which base currency should I use?
submitted by AD0M to Forex [link] [comments]

Help!!! How to do forex from India?

Hello guys, can some one show me the right way to do forex ( other than INR pairs) from India. I have been doing a demo with a broker called pepper stone for the past 8 months and I have found reasonable returns with it on the demo and I now want to move to real account starting with $200. My question is most brokers accept deposit via any MasterCard or visa and that’s easy but what about the withdrawal will there be any problems in getting money from my forex account in to my india account. Then will there be a situation where the bank can block my transaction. Also any issues I will face with our govt regulations and taxation. People who have done this before please help ....
submitted by rofx to IndianStreetBets [link] [comments]

Why am I only trading pennies?

Hello. I put a £100 into my forex account and use MT4 to place trades. As expected I’ve lost more than I’ve made, which is fine, however I’ve only lost a few pounds despite placing about 20 trades.
Why am I only placing trades worth pennies. Whenever I try place a trade I can’t go over 0.03. Is £100 not enough?
I’m new to forex so apologies for the stupid question
submitted by Public-Complete to Forex [link] [comments]

Stupid Question

Lets be honest. I have tried forex for some time and ultimately failed at it. I feel a lot more at ease mentally speaking when I closed my forex account and I am absolutely happy I was rather conservative with the amount of money I put into it. As for how much I have lost, I feel like I don't wanna know but ballpark estimate is $3000 or 4000 AUD. I feel to pull off forex you need some knowledge in macroeconomics and can't help but be curious to wonder, for those there are seriously committed to studying macro are there people that a successful in this kind of area? I personally find the subject really dry and difficult to follow.
submitted by Zwischenzug to macroeconomics [link] [comments]

Blowing my account multiple times and and losing thousands of dollars has taught me more than any forex course I’ve taken

Unless you’re the second coming of Warren Buffet you are GOING to lose money(shit he probably even lost a lot of money before being profitable). But when you lose money always remember what you did wrong and never make that mistake again. The more failures you have in this market the more knowledge you will have. Eventually you will lose so much you start being profitable because you learn how to avoid all the mistakes that made you lose money. Don’t be scared man risk what you can and go for it.
submitted by chriszgx to Forex [link] [comments]

Stocks For Forex

Hello...just needed an opinion...I was thinking of selling half of my stocks to fund my forex account...any thoughts? Thanks in advance.
submitted by Representative-Call6 to Forex [link] [comments]

If I'm unemployed and I profit more than £12,500 a year (tax-free allowance) trading Forex, will I have to pay income tax on all profits above £12,500?

Also, when do I declare it as income? Does it count as income when my Forex account balance increases, or when I actually withdraw the funds into my bank account?
So lets say that I gain £20,000 this year trading Forex, but this stays in my Forex account (I don't withdraw any money into my bank account). Will I have to declare it as income and pay taxes on it? Or is that only if I withdraw the profits into my bank account?
(by the way, I am spread betting, therefore there is no stamp duty or capital gains tax).
submitted by RapidActionBattalion to UKPersonalFinance [link] [comments]

Forex beginner

Okay so i have my Forex account and mt4 platform setup and funded with $450 on my Lenovo chromebook. Its 4:23 here in Alabama. I'm trying to figure out a strategy to place my very first trade. If any of you peeps are kind enough to help me out, it would be greatly appreciated.
submitted by Geek2198 to Forex [link] [comments]

My funded Forex account made 3.63% this week 👌🏾 I might start posting my trades again.

submitted by Rebel-Wit-A-Bezel to u/Rebel-Wit-A-Bezel [link] [comments]

trading currencies and account currency

I have a question about the mechanics of trading. If I am trading GBP/JPY and my forex account is funded in USD, how does it work? i have taken the babypips course but I still dont get this.
in the example mentioned, if i am going long, I would be selling JPY, but I dont have JPY. Would my broker take USD out of my account, convert into JPY, basically selling USD/JPY , then Taking that JPY and buying GBP? So I pay spread on two trades?? and once i close my long, then i will pay with two more spreads?
submitted by daproject85 to Forex [link] [comments]

Forex Market Concept

I am an economics graduate. I've always had problem understanding some aspects of forex. To make it all clear I want to ask some questions.

Let's say, I live in the US, 1000 US dollars in my forex account, I have a list of currency pairs.
1-Why do I have every kind of currency pairs? If my balance says I have 1000$ Why would I be interested in EUJPY? if I thought EUR would appreciate I would go to a bank and buy euros or buy EUUSD pair.
2-Lets say, I expect that EUJPY will go up meaning that EUR will appreciate against JPY. How does that happen in the background do I buy EUR selling JPY(I own only 1000 USD).
submitted by an_economistt to Forex [link] [comments]

How to use my Forex Ratio

Maybe I am an idiot, but I thought TDAmeritrade has 50:1 for FOREX. I have 18k in my forex account. Why is my buying power only 18K?
submitted by absolut07 to tdameritrade [link] [comments]

Tips on entering market with algorithm

I am entering medical school in July, and since coronavirus is going to allow me to have a lot of free time, I decided to take online courses on how to program. I am learning how to code with Python, and while I am learning that, I have been trying to learn forex trading strategies. I am going to start with 500 dollars in my forex account, and was just hoping for a consistent monthly return for the next couple years. I honestly do not plan on spending much time on my account weekly, but I would allot about 2 hours weekly in the midst of medical school. If I have a developed algorithm and adjust it throughout the years accordingly, would it be feasible to see a 5 percent monthly profit? Also, I was hoping for some advice on developing an algorithm with a strategy for my vision.
submitted by sixers24 to Forex [link] [comments]

My account is not enabled for Forex trading

Hello, I opened a custodial account today and I was playing around with the app. I went to look at the EUUSD options and I saw my account wasn't enabled to use Forex. How can I enable my account for Forex trading!
submitted by Watzdiep to thinkorswim [link] [comments]

23M living at home. Stressed.

This is the short watered down version. Just started university online after moving back with dad at 21. Was previously a HS dropout and alcoholic, who tried to off himself with pills and booze. Im adding this as a little backstory, so you can have an idea where i came from.
I am now a 23 year old online university student. I started in Sept 2019. I am also a forex trader, unbeknownst to my dad and grandparents. It pays for my limited expenses right now, but I love it and would obviously like to do after university.
So I'm experiencing some pressure. Ill explain a bit now and a bit after the paragraph below in an attempt to keep this rant neat and orderly. School online (im essentially teaching myself) is hard and stressful. I learn better when I can work through something alone. Im an autodidact. But that doesnt make it less stressful. Both my grandparents and my dad are adding pressure, essentially saying "you've fallen behind in life, so chop-chop. When i was your age i was married and had your dad, or i was working three jobs.", saying things like "when do you think you'll be done with school?" "What will you do after?" "When are you going to get married?". Ok. Part one of priviledged stress has been explained.
The only reason I went to university is because i found out my dad had about 11k set aside for my schooling, so i figured "well a finance degree would be helpful with my trading, and give me good job prospects should i need a good job alongside trading." He had this money in two RESPs (registered education savings plans). The first one I found out about had 1.4k in it. Helpful and I am grateful. It paid for my first and only course so far. The other amount of money i just found about is roughly 10k. My dad will not give it to me, however, because he wants to know EXACTLY what ill do with it. Its like he wants to know my exact movements before i get the money. He wants to give me just enough for a few courses, but he hopes he can keep some of it invested. Hes never been to university, and doesnt know how much it will cost. I dont know either. Each course varies depending on the amount of credits it offers, so its tough to gauge. Its more then 10k though.
I told him i would like to use most of it for school and put some into a TFSA (tax free savings account) and then invest through that, as I see fit. In truth i would. But I would also put some into my trading account (trading is my real specialty). I'd wager something like $1000 in TFSA, $1000 in my forex account, and the rest more less for school. But thats not good enough. He wants to know who i would be going through for the TFSA, who would manage it, what I would be looking to invest in, etc. In lamens terms, its like this money has chains attached (screw strings) and im being strangled.
And in case you were wondering, I don't want to tell them about me trading forex because it would just add more pressure, and the pressure may result in me making poor trading choices and losing money. Trading is already stressful as is, having impatient family members breathing down my may drive me to round 2 on the alcoholic train.
I dont have enough money to move out or pay for schooling. I only have about 500$ in the bank, no car, no drivers licence, and no friends. Ive literally put the majority of my money, time, and energy into trading and school and I love it. Ive become a total recluse as a result and have lost all my friends as well. Forex doesnt give me enough to support myself at the moment, so moving out again is a no-no. The money id add to it would certainly help.
Idk. Im just stupidly stressed and looking for some advice on my situation. This may not be the place, and I apologize..
submitted by tathrowaway56 to findapath [link] [comments]

I am getting 10% daily return on my Forex Demo account. Need Advice.

Like the title says, I am doing crazy good on my Forex demo account. I want to know is this sort of thing common and will it all completely change when I make a live account.
For some background I have been only studying Forex for about 2 weeks but during those 2 weeks I have not stopped learning. I came across a strategy that is now making me 10% returns per day and I'm fairly sure I could make that number higher with more practice.
Any advice with this would be much appreciated.
submitted by Lee_Bruce to Forex [link] [comments]

Paper Account Reset

I’m trying to reset my stock account balance to $100,000 without resetting or messing up my forex account balance. Is there a way to do this?
submitted by WallStKing to thinkorswim [link] [comments]

I built this small Forex account from under $500 now to over $1400. Here are my YTD stats...

Out of 68 trades since 6/1/20
% Change: +170.57%
Longs Won: (12/29) 41%
Shorts Won: (22/39) 56%
Pips: + 192.5
Net P&L: +$846.33
submitted by Rebel-Wit-A-Bezel to u/Rebel-Wit-A-Bezel [link] [comments]

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How I grow a $500 Forex account - YouTube

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