Thanks to Forex brokers, it is now also for private investors possible to trade currencies online with real money. With a so-called mini account it is already possible to trade with real money with a small initial deposit of 25, 50 or $ 100.

But first things first. Compare a few Forex brokers and choose one of the providers. Virtually all brokers allow you to trade currencies online with a free demo account without having to deposit own money. With a demo account, you get a fictitious capital of e.g. $ 50,000, which you can use to buy and sell currencies online. We recommend you to test this out. With a demo account, you can gain experience without risking your own funds. Only after you got know the trading software well and after you might have developed some own trading strategies, you should get into currency trading with real money.

A first step with a low risk is the deposit of a small amount of real money, which you could lose without getting into any financial problems. Deposits can usually be made via credit card or by bank transfer. While with a deposit with a credit card the money is immediately available to trade, it may take a few days when you deposit money by bank transfer until you can start real money FX trading. Some Forex brokers also accept deposits from online payment services like Paypal, Neteller or Moneybookers. When using one of these so-called e-wallet services, you can instantly start trading with the deposited amount.

Be sure to stick to the money management guidelines also when you only trade for small amounts of real money. Do not make trades with your whole balance. Set yourself a limit such as two or five percent of the account balance that you invest in a single trade. This way, you can gain plenty of Forex trading experience, even if you are unlucky and lose money in the long run.

Test with your broker if withdrawals work smoothly. Some Forex brokers require you to already submit electronically a proof of identity, such as a scanned passport copy, when applying for an online trading account. Other FX brokers require this verification of your identity only after your first real money withdrawal request.

Wait and be patient before you start trading with bigger real money amounts. Only when you have carried out hundreds of trades and when you have developed a successful trading Forex trading strategy, you should consider whether you want to increase your trading capital with an additional deposit of real money in order to possibly achieve greater profits. But remember to deposit only so much money as you could easily afford to lose without getting into any financial trouble.

Liberty Reserve is an online payment service that is similar to PayPal, Moneybookers and Neteller. Because Liberty Reserve (or short just LR) is well known in the U.S. and in Asia, an increasing number of Forex Brokers is accepting Liberty Reserve as a deposit option.

The best broker to make a deposit using Liberty Reserve is eToro. You can click here to make your deposit now!

Comparison of Liberty Reserve Fees

On the Liberty Reserve website you can see that the fees are very low compared to other online payment services. While PayPal and Moneybookers are not ceiling their fees (which can result in fees of $300 or more), Liberty Reserve has a low maximum fee of just $ 2.99, while Neteller has a maximum fee of $ 10.

When you chose Moneybookers and PayPal, the fees can quickly rise to $ 100 or more when moving larger sums of money, for example by depositing money or withdrawing money with a Forex broker. When trading FX online, you might want to move larger sums of money. Not all Forex broker agree to carry the transaction costs by themselves.

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To become a successful trader, you must understand the financial markets, have a strong mindset, great analytical skills, be able to make quick decisions and know the basics about FX risk management. Another important point for becoming a successful trader is knowing the FX trading software in great detail. We will have a closer look at this very important point but we’d like to make a recommendation first. eToro offers the best trading environment for novice traders and you can use an unlimited Forex demo account. Just click here to take a close look at the eToro practice account!

Free Forex Demo Account

If you want to learn how to trade with the software of your FX broker, you should use a demo account. With a free FX demo account, you can trade under real market conditions without risking any real money. Most Forex brokers offer free demo accounts to their clients. In practice, you have to first register at the broker of your choice before you can use a demo account for free. We recommend that every FX trader, either starting from scratch or when switching to a FX broker with a new trading software, first make use of a free practice account in order to get thoroughly acquainted with the FX trading platform. This will reduce the risks of making mistakes while trading FX (incorrect order entries for example).

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If you want to trade Forex with real money, a deposit is necessary, which is pretty obvious. However, the topic of Forex deposit is not simple. As a forex trader you don’t have every payment option available and not every broker offers all possible payment options. This table shows an overview of the most common deposit options and our recommended Forex broker:

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Paypal is, without a doubt, one of the best and most aspiring online payment options. You can synchronize your Paypal account with many payment methods like credit cards or a bank account so that there’s always a balance in your Paypal account. This is somewhat unique. Deposits with Paypal do not charge the trader himself because the Forex broker overtakes Paypal deposit fees.

Paypal was mainly used for eBay, Paypal’s mother company, but is now also available at Forex broker. In this article on “Forex deposit with Paypal” we present the most popular Forex broker, where you can pay with Paypal.

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Moneybookers is a payment provider that is increasingly popular and has now over 15 million customers. This speaks clearly, and shows that Moneybookers was able to grow despite the relatively young age very quickly.

You can fund your Moneybookers account with credit cards or your bank account. Then you have access to your money and can use it as a Forex deposit, for example.

Moneybookers origin is the Gambling section because there were hardly any provider who wanted to support this new industry. But in the meantime Moneybookers also got access to Ebay and most of the Forex providers already support Moneybookers. The following is a brief summary:

Moneybookers and eToro

eToro, probably the biggest forex broker supports deposits with Moneybookers. EToro is especially suited for new traders who value clean and clear trading software.

Moneybookers and AvaTrade

Another great Forex broker that supports Moneybookers deposits is AvaTrade. AvaTrade is mainly popular in German speaking countries and you can trade foreign currencies, CFDs, Indices, metals and oil at AvaTrade. AvaTrade also supports the Forex platform Metatrader.

Moneybookers and InstaForex

The Forex Broker InstaForex convinces traders with a wide range of trading possibilities and a maximum leverage of 1:1000. Moreover, Instaforex offers Metatrader 4 and you can even earn interest on your account balance! You can trade with oil, gold, currencies and CFD. A deposit with Moneybookers is possible with InstaForex.

Moneybookers and Finexo

Finexo is yet another Forex broker that allows you to make a deposit with Moneybookers. At Finexo you can pay not only with Moneybookers, but also with Paypal. You can trade in the web browser or use MetaTrader (which is the MetaTrader platform).

Moneybookers and Forex4you

A FX broker that supports many payment options, is Forex4you. In addition to Visa, Master Card, WebMoney and wire transfer a deposit with Moneybookers is also possible. This growing Forex broker offers mini accounts in cents, for example, where you can trade with $ 20 as if you have $ 2000.

Moneybookers Frequently Asked Questions

What is Moneybookers?
Moneybookers (in the future: Skrill) is an eWallet that is very popular and widespread among poker players and casino players. The reason for this is that Moneybookers was one of the first eWallets that allowed incoming and outgoing payments to gambling sites. Therefore almost every poker player used Moneybookers and that’s the reason why there are already over 15 million customers, which is more than enormous!

How does Moneybookers work?
Moneybookers works like any other eWallet. This means that you have a virtual account that you can recharge by direct debit or bank wire transfer or credit card. Then you can use your credit for almost everything, for example a Forex Deposit, or to shop at online stores or Ebay.

How do I deposit with Moneybookers at Forex brokers?
This is really a breeze. You must have access to your Moneybookers account and of course, have credit on your Moneybookers account. Then your deposit is no longer a problem. Just search the deposit option at your favourite Forex broker of your choice and select Moneybookers as payment option. Then you choose the desired amount and are transmitted via an interface to Moneybookers. Now you have to enter your Moneybookers address, and the deposit is completed.

Anything you need to consider when depositing with Moneybookers?
Actually, not much. Moneybookers works fine and as long as you have enough money in your account, you can do whatever you want. Of course, you undertake certain measures to ensure your own safety. So you should always use a password that you have nowhere else in use.

Is it possible to increase security at Moneybookers?
You really don’t need any additional security measures. If someone hacks your account, which of course rarely happens even with 15 million customers, Moneybookers will help you in a second. The Moneybookers support team is always very good.
But Moneybookers offers an additional security measure, which not even German banks are offering by default. You can order a so-called Security Token. This generates a unique password for each login. Thus your Moneybookers account is protected from all attacks and you can feel even safer.