Starting Day Trading in Crypto and Forex: Tips for Beginners

Looking for advice on where to kick off day trading in crypto and forex. Got around $3K to start with, but I’d like some options with and without KYC. Also, it’d be great if I could find a site that allows trading both. Not looking for US-based exchanges though... any trusted platforms?

$3k is quite a bit for a newbie, but everyone's situation is unique. From what I’ve seen, eToro gets a lot of hype for both crypto and forex trading. I don’t use it myself, but their ads make it look appealing. Just make sure to do your own research before jumping in. KYC is probably unavoidable with big platforms.

Yeah, any exchange dealing with local currencies is gonna demand KYC since you need to link your bank account. No way around it. Not really a forex trader here, but I’ve seen ads for brokers like OctaFX, Exness, and XM. You can trade both through them, but it's mostly margin trading.

Honestly, forget about forex for now. All the non-KYC forex brokers vanished when crypto gained traction. If you're set on day trading, a KYC exchange is your best bet. If you somehow find a non-KYC one, just remember it’s most likely a sketchy place with low liquidity... not worth risking your cash.

If you hadn’t mentioned forex, I could’ve suggested some DEXs where you can trade without KYC hassle. But since forex is involved, it’s likely you'll need a KYC brokerage. It's actually better for your security to provide your details. Just saying.

Totally agree with that. Stocks and forex always need KYC, but if sticking to crypto, you could look at platforms like MEXC or KuCoin. They let you trade without strict KYC, though withdrawals are limited. I'm small-time, so the limits work for me.

Starting with a big amount like $3k without basic knowledge is risky. Trading isn't as simple as it seems. Maybe just buy and hold some Bitcoin for a few years instead of jumping straight into trading. You'll need to build your skills first.

With $3k in forex, it’s a recipe for disaster. If you wanna trade crypto, check out coinmarketcap for the top exchanges. Most require KYC, but DEXs might be an option. But hey, do what you feel is right.

For crypto, Binance and Bybit are solid exchanges with high trading volume. But yeah, they require KYC. The risk is real, especially for beginners. I'd suggest practicing with a smaller amount or even a demo account until you're comfy. Mixing forex and crypto? Too risky, man.

Sad but true, most exchanges need KYC, especially if you're looking for a mix of Forex and crypto. Dzengi is interesting since it offers tokenized crypto, stocks, and forex, but I had to go through KYC when I used it.

Focus on DEXs for crypto, but finding a good forex broker without KYC is tough. If you’re looking at risks, there’s always the chance of contract exploits on DEXs. Just be aware.

I doubt there’s a broker that lets you trade stocks and forex without KYC. For crypto, MEXC is decent; no KYC needed, but there are limits. If you’re a small trader, it should be fine. But starting with $3k? Maybe try less?

Pick one market, either crypto or forex, especially as a newbie. Starting with $3k increases your risk. DEX is cool, but if you're okay with KYC, check out CEX like Binance or KuCoin. You'll find what suits you.

CEXs are way easier to deal with, imo. Hope DEXs catch up in that aspect soon.

Hyperliquid seems like a great choice. It’s one of the few trustworthy decentralized exchanges without KYC. Just connect your wallet, bridge to hyperEVM, and you’re good to go. Anyone tried it?

For beginners, all exchanges, KYC or not, can be risky. Best to learn the ropes before diving in. If you really want to avoid KYC, then a DEX is your best bet. Just keep in mind liquidity issues could lead to losses.

If you're after both crypto and forex, Bybit’s a solid option. They’ve also got forex trading, but yeah, KYC is a must. As a newbie, seriously consider focusing on one market. Spreading yourself too thin can backfire.

Finding a reliable forex broker without KYC is tough. You could lose your $3k along with a headache from withdrawal issues and complications.

Check out Hyperliquid for crypto perps and Ostium for gold/forex. Dinari is also good for stocks. Just sharing some options.