About Forex/r Etoro

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Iconoclast

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Hi guys

My younger brother has been playing around with forex via deo-virtual currency. And been making profit, but in demo account you get like 50k euros!. So he decided to invest about 1000 euros in forex and see how it goes. However its kinda hard earned money. I dont want him to lose his money. He keeps telling me that he made X% profi blah blah blah. But lets face it forex is a high risk venture. I think that he might lose all his money but then again he is a smart guy.

The other day he asked me that etoro looks way better and dependable then forex.com. So what should he do, i mean where should he invest?
Tell me guys

thanks
 
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To think forex is an investment is clearly starting off on a wrong note.

Yea sure your brother made profits on demo account. Everyone can, because the data you get there is completely different and can be easily tweaked to ensure that trader with a basic sense of the markets will make profits compelling them to sign up to a real trading account.

If I were you, i'd advise to put that money in a managed account that offers a good return. Most PAMM's seek $500 or more, so with $1000 i'm sure you have plenty of money managers to pick and choose from. Look into the age of the account, the average returns and also the broker where the money manager is trading with. Preferably an ECN.. commissions may be big but there are no counter trades giving the MM to scalp where possible.
 
etoro sucks don't invest thr if u want more information pls pm me
 
Let him do what he wants, he will most likely loose his money but, maybe, learn something from that if he really is a "smart guy". And if he doesn't loose then it is ok.
 
Hi,

anybody who has made experience with forex, binary options or ava? What would you say to be the best of these?
 
forex high risk business...but i had a plan with forex..in future i want to try trade using bot(the best bot in the market now) and just trade 10% or small lot from my equity.

maybe i will be rich in 10 years rather then loss in 1o minutes..lol
 
Trading in forex is really not an easy task. The above information are helpful. Everyone learn from mistakes. Let him trade according to their knowledge but I would like to suggest him to choose any option after good analysis of the market.
 
I wouldn't recommend to invest in eToro. I've had some bad experiences with it's customer service. I mean they called me and I must say the person who called me spoke very bad English and I could hear some odd noises in the background. It felt like a Nigerian scammer had called me.
After some successful demo trading they called me again to ask if I'd like to invest some real money but I refused. Why I refused? Well I had read some reviews of eToro and many of them blamed eToro for bucket shop. I know if you search google for eToro you will probably find a lot of MNS's that are trying to promote eToro because that's what they get paid for.
Anyway I'm very interested in Forex myself and would like to hear how your brother does! :)
 
Forex is a hard game to play, and you can loose all your money in record time. Don't trust demo accounts either.
 
Thanks for sharing your experiences...yes I also heard that demo accounts don't correspend the truth, most of the time you win there, so you are attrected to open a real one and thatn you start loosing your money...thats why I asked which of the componies is the most fairly.
 
action_red said:
Thanks for sharing your experiences...yes I also heard that demo accounts don't correspend the truth, most of the time you win there, so you are attrected to open a real one and thatn you start loosing your money...thats why I asked which of the componies is the most fairly.
Click to expand...
I think demo account also have same feature like real accounts since it also showing same market price. The differences only in greed feeling. Mostly we can control our trading in demo account but we will being greedy in real account and using too high lot size.
 
Etoro is working against their clients I think. Made the experience that the orders for buying and selling are accomplished with a delay sometimes, especially at times when you have to act very fast ( Economic News Release for example )So that delays made me loose money a few times. The only winner in this game is Etoro, cause they take a part of that spread every single trade and also maybe holding positions in opposite to your trade
 
I tried to register at IOption but it was not possible to create an account. Anyone with the same problem?

Cheers
 
What platform is your brother trading on? Open a account with AVA Fx they have fixed margins unlike most forex brokers and small initial deposit of $100. Yes forex is very risky but you easily minimize it using money management, make sure he purchases small lots start with 0.01 volume for example and he can use trailing stop or stop loss markers to prevent large DD if he is doing high volume and close the trade early. What strategy is he using, are you sure he knows what he is doing? Is he day trading or holding long weekly? What periodicity does he trade at? PM if you need some help.
 
One good tip is to start small at etoro. Try to check their OpenBook system where you could copy an experienced trader's move.
 
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