FOREX trading in Sri Lanka – how to start trading and free FOREX info

As I have mentioned countless times in this blog FOREX trading is a great way to earn a decent income online. When it comes to FOREX trading in Sri Lanka one of the biggest obstacles faced by people is the trust factor. They struggle to get proper advice on how to start FOREX trading and because of all the fraudulent activities that happened in the recent past ( The Sakvithi scam , Ceylinco depositors scam ) people are just reluctant to invest there money on anything. I get numerous mails asking me about how to withdraw money and how much people can earn through trading but most of these people haven’t bothered about going through the training material or the FOREX resources I have linked to. Most of these people are get rich quick types who are looking to make some easy money on the internet but the truth is there is no such thing as easy money. FOREX trading is like any other trade or business, you have spend some time learning the ropes before you can actually start making profit from it.

FOREX Trading in Sri Lanka

FOREX Trading in Sri Lanka

Starting FOREX trading – Choosing a FOREX broker

One of the first things you should consider when starting FOREX trading in Sri Lanka is choosing a suitable FOREX broker. If you are new to trading I advice you start with e-toro.e-toro is the broker I use and because of its visual trading mode with charts marathons etc it is relatively easy for a newbie to understand. Another good thing about there software is that they give you the ability to create a practice account and give you 2000$ of virtual money to try out your trading techniques that you have learned. You can check out my e-toro FOREX trading review if you want further details or simply download it for free.

Learn FOREX trading with these free resources

Now that you have downloaded the necessary software and installed it now its time to start trading. Before you start trading for real it is really important that you learn and use the practice account for at least 4-6 months. This will give you a better understanding of how things work and let you gradually learn all the terminology related to FOREX trading. When it comes to learning trading one of the best resources I can recommend is the babypips FOREX guide. It is a long and a comprehensive course well worth the time spent if you are serious about making money with FOREX instead of loosing money.

FOREX Trading in Sri Lanka is Possible and Profitable

FOREX trading in Sri Lanka is a great way to earn some money and you should be able to profit if you follow those free resources and learn to make informed decision. However as I mentioned before it could lead to you loosing your money as well, so invest wisely and carefully to get the best out of the service.

Comments

  1. loungepuppy says

    Interesting info. If you don't mind me asking what has being your biggest loss so far(in monatary terms) I am very new to this so I am skeptical. Just started going through all the study material.

  2. says

    I’ve never tried Forex trading but I’ll be the first to admit I never know what a quality Forex article is or what a spam one is. The only reason I know this article is quality is because it’s on your blog.

    I’ve never done futures,currency or any other form. I don’t plan on it either I’m to afraid to lose my money haha!

    • says

      Actually learning the basics of FOREX trading is not that hard, its applying that knowledge with your experience that decides whether you will be a successful trader or not.

  3. PRIYANTHA says

    I like to trade forex trading and I need some help.IHAVENT MORE MONY ALSO LOKING FOR FOREX SINHALA BOOKS.YOU VERY EXPERIANCE NOW EARN MONY LOT SHARE YOUR SKILL WITH ME THANKS. PRIYANTHA
    0718207263

  4. Weerasinghe says

    I have a best system for forex trading. But I haven’t enough money for invest. If anyone can help me for improve these things I can share my skills and other things I have. this is not etoro. but this forex system can earn over Rs200,000/= per month. Contact me 0775333273

  5. Indika says

    Just check with Central Bank and they said forex trading by individuals in Sri Lanka is not legal.
    Please explain the real situation regarding forex trading

  6. mihitha says

    heyy i down loaded the softwear etoro but as u said thre arent any virtual money , so um lost in this softwear tring to understand this , plz hlp ..

    • says

      @Ravi, I guess you are saying this because you invested money in FOREX and lost. FOREX does involve risks but it can never be compared to a casino where everything is based on luck. If you study the trends and take time to learn about trading you can succeed with FOREX. Make use of mechanisms like stop loss margins and make good decisions without getting too greedy, then you will succeed.

  7. kumudu says

    Hi,

    how is the legal assurance and guarantee for our invested money to brokers.is this legal in sri lanka? and does it taxable?

    • says

      @Kumudu, What do you mean by guarantee ? If you invest some money in it then you can always get them anytime you want. Whether your amount increases or decreases depends on how you trade.

      • kumudu says

        ok,

        as you say , what is the assurance for our money payments.how can i know detail about that?

      • says

        @kumudu, it depends on your broker , read the reviews and check if they have a history of not paying on time etc. Usually all top brokers allow you the ability to withdraw money at any time and they pay on time.

    • says

      @Ravi, True, only about 10% of FOREX dealers actually make profit, its up to you to get into that 10%, learn about trading and apply the techniques and then you will be in that 10% :-) , however that doesn’t make it a scam ;)

  8. udayanga says

    hi,
    I m interested on Forex and went through couple of articles regarding the same, but i think sri lankan having problem about money transaction (specially transfer in SL). PayPal doesn’t support it. pls update about the options available on this topic

    • says

      @Udayanga, Depending on your broker there are plenty of payment options other than PayPal. You can use credit card, direct money transfer, AlertPay, debit cards etc as well.

  9. says

    I am with Forex long time , this is one souse of my income, I am thinking to teach this to our guys but it is difficult in open web recourse it has some issue with regulation of Sri lanka. because this is investment and it use as Casino double sward. If rich panic monkey try to use it end of the day he will become poor bugger. on the other hand you can earn decent money while working

    myself I am an Engineer , I work hard with timeless ,endless journey to current situation , if you need assistance please mail me muthunayake@gmail.com

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