The Forex Noob

Just opened a demo account with Fast Brokers.

From a marketing standpoint, my background, I’m not sure this is such a good name especially with all of the unscrupulous people in the forex industry.

As for a forex broker they look to fit my needs, except they have a higher initial deposit requirement than I’d like, $500.

Here’s the deal: 

• They are an ECN broker, no dealing desk.
• They are registered with the NFA and CFTC.
• Spreads are low.
• Offer MT4.
• I can apparently use an auto trader. If I go with FAPTurbo this will be nice.
• They offer Gold, important to me. 

When the market opens this afternoon I’ll start playing and see how their connection is. Tomorrow I’ll test out their customer service.

Remember, I’m a Noob.

I have set up a live account with REALForex, sister to LiteForex, and have been working ot fund the thing for a few days. Bank wires will cost $20, I found out WebMoney only accepts deposits of $10k or more, after going through the time to set up an account.

I was interested in REALForex because they were an ECN broker, they had MT4, a low deposit, and I had seen decent reviews of them. But getting funds into my account has proven very difficult. This may be typical for forex brokers but there are enough brokers offering PayPal deposits and withdrawals to make me wan to look elsewhere.

I think I’m moving on.