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Easiest place to trade?

  • 12-05-2011 2:09am
    #1
    maxitwist
    Registered Users, Registered Users 2 Posts: 302 ✭✭


    I was on here before looking for advice on trading currency, one of the questions that i asked was where to trade. I was told to do some research. and I have tried however I must admit i have been defeated by this new world. Im not going to fall to the folly of ignorance and invest my money in any website which promises to double my money, so I have returned here, hopes slightly dashed that this will not be as simple and fruitful as i had hoped, but nevertheless I would like to try it, even if didnt turn out to be as succesfull as i had hoped.
    I know turning a profit through trading in banks is impossible, but right now that looks like a more realistic option for me.. So I dont know, do I need to know alot more about economics and markets, or is there somewhere i can go (maybe a middle of the road between the proper market and banks?) to trade currency simply, without commitments?

    All I want is to be able to buy x amount of a currency, pay a fair commision, And then when im ready to trade back, be able to do that simply. Can i do that, or are things not that simple?


Comments

  • #2
    strmin
    Registered Users, Registered Users 2 Posts: 315 ✭✭strmin


    All you need is decent but cheap broker account. I pay only $2.5 to buy or sell any amount of currency.


  • #3
    FiresaleBuyer
    Closed Accounts Posts: 35 ✭FiresaleBuyer


    I use OANDA.com. They dont charge anything to buy and sell currencies, gold and silver. They make their money from the spread, which is very low. You can trade on leverage of up to 20:1 or you can also trade the main currencies (EUR. USD, JPY) without any leverage, just straight converting back and forth. The trading platform launches from your web browser and requires your browser to have a Java plugin.

    Theyre based in the USA, with offices in Singapore, Dubai and Canada. So you will have to send your documentation to one of those offices, in order to open an account.

    Im not sure if there is any irish tax liability arising from trading currencies back and forth. Someone else may want to clarify that.


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