Forex Blog @ FxBees.com

After winning Seedcamp Prague together with four other great startups we had the chance to participate in Berlin again. So who – if not we – has to share something about lessons learned during Seedcamp. Initially we were only prepared to meet new interesting people and to say hello to known faces, however due to the sudden dropout of one team we were able to take part as an official team again.

We won’t focus on how awesome the Seedcamps events are, because you sure know that. In case not, read their blog and find out who already participated as mentors. What is probably much more interesting for you, is how to get the most of it out for your company. Here are our lessons learned:

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Just a few weeks have passed after our public beta launch. Even though there is still some development ahead, it was absolutely right, to go online now. As a small and lean company we simply cannot afford to waste our resources for features and functions nobody cares for. The market and our users are the best guidelines when it comes to effective development.

For instance, we were very surprised how many users were asking for the option to open a real account immediately. Together with our first partner broker CMS FX International we now offer real money accounts connected with FxBees.com.

Open a Micro Account with only 200$

Besides the common standard account, we are also able to offer our customers to open a micro account. A micro account  only requires a minimum deposit of $200 and allows a minimum trade size of 0.01 Lots. By trading micro lots your exposure is much lower and you can get used to the Forex market slowly.

Why use Micro Account instead of a Demo Account?

A demo account gives you the opportunity to become familiar with the trading platform, learn how to place trades, and use technical analysis tools. However, when there is no risk, you are likely to be more detached when you place your trades and in how you look over the result of each trade. Also, a demo account usually starts with a large initial amount that may not be representative of your starting capital when trading live.

With Micro Lots, putting some money on the line, even in very small amounts, may make you more invested in what happens with your trading! When you are ready, you can deposit more funds and upgrade to a standard account.

See, how position sizes affect how much you make or lose on a 100 pip move (example):

Standard Position (1 Lot): 100 Pips = $1,000 (1 Pip = $10)
Mini Lot (0.1 Lot): 100 Pips = $100 (1 Pip = $1)
Micro Lot (0.01 Lot): 100 Pips = $10 (1 Pip = $0.10)

As you can see, learning is much more convenient with a Micro Account.

How to get started?

Register at FxBees.com and then upgrade your demo account to a Standard or Mini Account to start trading with real money. If you experience problems, just contact us through the support forum.

There we go: After endless hours of development, testing, development and a closed beta (alpha?) version, we are very happy to announce the launch of our public beta test today! All interested traders are invited to test our platform and to give openly feedback.

What is so special about FxBees.com?
FxBees.com is not a typical Forex community, it does not even has much in common with what is usually called a “Forex community”. FxBees.com is rather a combination of community features and a trading platform. FxBees.com takes the community inside of your trading platform and your trading activities in the community and thus creating a total new Forex experience. FxBees.com can actually help you to become a better trader! (more…)

Even though our name was reconsidered again and again, its probably not self explaining without seeing the first release. So let us bring some light into the darkness.

Fx is just a common abbreviation for FOREX. So what has Forex to do with bees? Actually nothing, and also in our case its just a symbol to describe the main vision behind our platform. Bees are no loners, they live in hives to survive. Through mutual assistance single bees survive and also ensure the survival of the whole hive. Without a hive bees are lost and will die rather sooner than later.

So the magic word for both FxBees.com and bees is: Collaboration. However we do not collaborate in collecting nectar, FxBees.com is about collaboration on the FOREX market. In the following postings you will learn more about what makes FxBees.com so unique!

Arriving on the home stretch towards the launch of our FxBees.com beta release, we considered it the right time to give FxBees.com a voice. From now on we will report about our progress, startup insights, interesting Forex news on a regular base.

If you came here by following our tweets, you already proved your interest in the FOREX market. If not, dont worry, we will show you very soon, why FOREX outrules every other market. In any case you might ask yourself: What is this all about? What does FxBees.com stand for? What is the main idea?  These are all good questions, deserving an answer – but too many for one blog post! So check back for answers regularly and you will understand pretty quick, how FxBees.com is going to revolutionize the FOREX market.