New trader here! Can we do funding and withdrawals with multiple currencies?

Surely, you can get help from your broker in this regard.

From my own experience, I can say that I have never had any problems with withdrawing funds with the Amarkets broker, but even in such situations and controversial issues, there are managers who can really help and give practical advice.

Seeing the volatility of the forex markets, it’s crucial to choose a right pair. Diversify your investments in multiple pairs to ensure good returns. I am using USD/JPY, GBP/USD, USD/CAD, NZD/USD with fxcm. I am not much worried about one or two of them diving as I eye on others that are performing well at the same time.

garrychristians posted:

Johnathankim posted:
Would suggest using EUR as well with other currencies. A couple of brokers will provide you much lower spreads on these pairs.

I can do that, but I am afraid of the European risk appetite due to Corona threat. Reading the news lately and seeing the euro breaking down further.

using EasyMarkets being an Australian, and now seeing Tickmill, Fxview and FP Markets for their spreads. My opinion might go another way, I suggest mastering a single pair so as to open more positions to come off from that pair. I have done this before where I loaded more pairs on my MT4 charting software with EM.
Have already created my demo account with Tickmill to test the environment and yet to do for FP markets and fxview. About to use Webtrader and MT4 first.

Building a trading plan with one pair is much easier. I suppose it’s more risky to use CHF as it is under strict manipulation with swiss banks. It also becomes a bit hard for non-usual traders. I am only using EURUSD with Fxview. Though it’s too volatile, choosing the right trading time windows come in handy.

USDAUD, I hate the most , never worked for me.

More than regulation, I care about the reliability of the trading platform. If a broker is reliable, I would love to use it.

Definitely, the reliability and safety of the broker are the main components that should not be taken into account.

garrychristians posted:
just switched to a part time job from full time. Planning to use this time for forex trading and have already started looking for the discussion threads with other traders. Haven’t decided on the currencies to use (USD or CAD or GBP or 2 together not sure with this). Are there any possibilities to deposit and withdraw with different base currencies?

Thanks for your suggestions!

I'm not sure what I understand the question correctly... Do you mean if you can deposit from / withdraw to a bank account that has a different currency? If that's the question, you absolutely can, just be mindful of the conversion rate and possible commissions of your bank.

DoraWalletInvest posted:

garrychristians posted:
just switched to a part time job from full time. Planning to use this time for forex trading and have already started looking for the discussion threads with other traders. Haven’t decided on the currencies to use (USD or CAD or GBP or 2 together not sure with this). Are there any possibilities to deposit and withdraw with different base currencies?

Thanks for your suggestions!

I'm not sure what I understand the question correctly... Do you mean if you can deposit from / withdraw to a bank account that has a different currency? If that's the question, you absolutely can, just be mindful of the conversion rate and possible commissions of your bank.

Yes it is possible to do that.

New traders should gain proper knowledge before starting their trading career. Without knowledge, they can not survive in this risky market.

ElliotCooke posted:
New traders should gain proper knowledge before starting their trading career. Without knowledge, they can not survive in this risky market.

And also as the real knowledge comes from actual presence in the market and the subsequent losses, it is always better to start small.

You should know the importance of learning and getting all the information about trading in order to start with it.

garrychristians posted:

ElliotCooke posted:
New traders should gain proper knowledge before starting their trading career. Without knowledge, they can not survive in this risky market.

And also as the real knowledge comes from actual presence in the market and the subsequent losses, it is always better to start small.

Yes. You are right. without knowledge, you are nothing in this risky market.

Kroolsc posted:
You should know the importance of learning and getting all the information about trading in order to start with it.

The best learning source of forex trading is a demo account.

ElliotCooke posted:
New traders should gain proper knowledge before starting their trading career. Without knowledge, they can not survive in this risky market.

Yes. Proper knowledge is mandatory to make money from this market.

I don’t think brokers allow funding and withdrawals with multiple currencies. You should contact your broker support.

I also agree with you. Demo trading is the best way to learn.

ElliotCooke posted:
New traders should gain proper knowledge before starting their trading career. Without knowledge, they can not survive in this risky market.

Proper knowledge is very important to survive in this risky market.