Novice to FOREX-how to open $1k acct

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FreeMktFisherMN

I'm looking for advice on how to open up a FOREX acct (who to do it through, etc.). Until now I have just traded in the Scottrade ETFs occasionally, with a very small acct. size, and don't like having to wait 3 days to trade due to the rules about trade completion.

I'd like to open a FOREX acct so I can get more trading experience, and would like to keep it to about $1k. How does it work with profit per tick, etc., compared to trading say the 6E on the futures where it is worth 12.5/tick? Which broker, and how long will it take to open up the account? I'd like to more so positoinal trade, so if it can be adjusted tick value/leverage, I'd like it where I can have a thesis play out versus short term noise.

Thanks in advance.
 
You really shouldn't be trading 6E or the mini with $1k. Open an account with Oanda and you can trade size starting at 1 EURUSD (not one lot, 1 Euro).
 
I just want to be able to trade forex to get some experience, and want to be able to take some heat. I was pointing out I don't want a setup like 6E where even one tick is 12.50. I don't know how low the tick values can go, but I'd like a lot less. I don't care so much about upside, even, as I just want to practice, but need to do it in a live account. 1k is about all I can afford to put for this, and no issue if worst case I lose most or all of that.
 
FreeMktFisherMN said:
I just want to be able to trade forex to get some experience, and want to be able to take some heat. I was pointing out I don't want a setup like 6E where even one tick is 12.50. I don't know how low the tick values can go, but I'd like a lot less. I don't care so much about upside, even, as I just want to practice, but need to do it in a live account. 1k is about all I can afford to put for this, and no issue if worst case I lose most or all of that.
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With futures it's 12.50 or 6.25. Open an OTC forex account. FXtrade at Oanda. None of us are served by you continuing to repeat yourself. Futures are not for you with $1,000.
 
yeah, that's what I meant, definitely not interested in futures with this. I had heard people could trade forex and have the tick increments very small in value, so more heat can be taken. I'll look into Oanda.

Thanks
 
Oanda's claim to fame is the 1-unit lot size. They have received well over $200MM in vcap funding and will be going public in 2015. By far the largest retail-OTC FX dealer. They're a quant-house that had OTC volatility on the platform in 12 pairs. Not the run-of-the-mill bucket shop. They also pay/receive discrete carry.
 
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