# Forex newbie questions



## Rob_A (21 July 2010)

Hi Guys

Have recently become interested in Forex. I work full-time during the day and have an investment property. Thinking of having a go at this. Am I able to start with an account of say about $200 and see how I go?

I have been playing with a demo of FXCM Trading station. Is there any others I should look at ?

Also how do I go with Tax on this, is it counted as income?

Thanks

Rob


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## BrightGreenGlow (21 July 2010)

Yeah profits are treated as income.


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## BobMa (22 July 2010)

It will probably be considered capital gains but always always try demo account and never buy any commercial junk


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## cogs (22 July 2010)

Sure, open an account with $200 and see how you go. Make sure it's $200 you can afford to lose.


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## CanOz (22 July 2010)

A small account is fine as long as you can take micro positions. Otherwise, if they are letting you take larger positions using leverage then you'll wipe out before you can learn anything. 

An account size that small is a training account, so try and learn something, get an edge. 

Cheers,


CanOz


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