Forex Blog @ FxBees.com

Last week we talked about the advantages of micro accounts for prospective Forex traders. Since micro accounts involve trading with real money, the learning effect of micro trading is significantly higher than with demo trading. So if you are interested in Forex trading, but still relatively unexperienced, we have the perfect offer for you:

Sign up with FxBees.com and we fund your trading career with real $30 in your micro account!

There are no strings attached, you dont need to deposit any own money. The only requirements are:

1. Register at FxBees.com
2. Pass our Beginner’s Quiz (in case you have difficulties, visit the Forex School first)
3. Open a live micro account with our partner broker CMS International
4. Receive your $30 bonus and start trading with real money!

FxBees.com is the first Forex community that allows you to improve your trading skills in a transparent and real environment: All member’s real trading activities are disclosed in the community in real-time. You can learn from the best by following the trades of successful traders in real-time and exchange information and trading ideas with like-minded peers in the community.

Different than other Forex communities we at FxBees.com think that the key to your success is not determined by 101 technical gimmicks that Forex brokers or other communities provide but rather by an entertaining and playful trading environment, where you can improve your skills with a smile. From beginner to expert level with FxBees.com: Dont study too many boring books, rather join FxBees.com today and let us and our community help you to advance on your way to success!

Find out more about FxBees.com and sign up HERE.

The widely known standard Forex account has a smaller brother called Mini account and – not so well known – an even smaller brother called Micro account. While the reasonable minimum deposit for a standard account is somewhere arround $2,000 one can start trading with $25 in a Micro account.

Beginners who are about testing the waters of Forex trading, have to determine wether to paper trade with a Demo account or to get their feed wet with a Micro account. Before you start trading, you have to have a strategy anyways. As long as you dont have a strategy, dont play with real money! Given you already made your first steps in Forex trading, a Micro account could be the right choice for you. Here is why…

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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! Read the rest of this entry »