More Forex And Forex Trading News
Our Featured Online Forex Trading Writer
Forex Broker Guide
Introduction
The following is a list of questions you may like to ask yourself, your broker and other traders about a particular firm you have in mind. You can use this checklist to narrow down your selection of forex companies to fit your requirements. You might also like to read the forex broker ratings page on this site http://www.goforex.net/forex-broker-ratings.htm to see how other traders are rating and reviewing other brokers.
The following links will also give you some background information on U.S. FCMs (Futures Commission Merchants).
* Selected Financial Data for FCMs http://www.cftc.gov/marketreports/financialdataforfcms/
* NFA Background Affiliation Status http://www.nfa.futures.org/basicnet/
1. Word of Mouth
* What do other traders say about the broker?
* What is their customer service/dealing desk like?
2. Safety of Funds
* Is the broker regulated?
* What regulatory organisation are they registered with and what protections does this afford you?
* Are client funds insured against fraud at the firm?
* Are client funds insured against bankruptcy of the firm?
3. Execution
* What business model do they operate? i.e. Market Maker, ECN or NDD?
* How fast is their order execution?
* Are orders manually or automatically executed?
* What is the maximum trade size before you are put on manual execution?
* Are all clients trades offset?
4. Spread
* How tight is the spread?
* Is it fixed or variable?
* Is it larger for mini accounts?
5. Slippage
* How much slippage can be expected in normal and fast moving markets?
6. Margin
* What is the margin requirement? e.g. 0.25% (max 400:1 leverage), 0.5% (max 200:1 leverage), 1% (max 100:1 leverage), 2% (max 50:1 leverage), etc.
* Does it change for different currency pairs or days of the week?
* Is it the same for standard and mini accounts?
7. Commissions
* Do they charge commissions? (Most market makers commissions are built into the spread, whereas ECN's charge a small fee)
8. Rollover Policy
* Is there a minimum margin requirement in order to earn rollover interest?
* What other requirements or conditions are there for earning rollover interest?
9. Trading Platform
* How reliable is it during fast moving markets and news announcements?
* How many different currency pairs can you trade?
* Do they offer an Application Programming Interface (API) for automated trading systems?
* Does it offer any other special features? (e.g. One click dealing, trading from the chart, trailing stops, mobile trading etc.)
10. Trading Account
* What is the minimum account opening balance?
* What is the minimum trade size?
* Can you adjust the standard lot size traded?
* Can you earn interest on unused equity in your account?
Let's Talk About Forex
gft forex
What about Forecasting: Predicting current and future market trends using existing data and facts. Analysts rely on technical and fundamental statistics to predict the directions of the economy, stock market and individual securities.
Check out the first commercially available Stock Trading Robot Which Earns $346.77 Per Week
currency calculator
The foreign exchange market is the largest and most liquid financial market in the world, representing more than $1.2 trillion worth of transactions each day. Also known as forex or FX, currency trading involves the simultaneous purchase of one currency while selling another currency. Currencies are traded in pairs, such as U.S. dollar/Japanese yen (USD/JPY) or Euro/U.S. dollar (EUR/USD).
forex trading software
The foreign exchange market dwarfs the combined operations of the New York, London, and Tokyo futures and stock exchanges. According to its size and scope it is many times larger than all other markets. Stats shows that spot transactions and forward outright Forex trading take place in the inter-bank market. 51% of the market is in spot Forex transactions, followed by 32% in currency swap transactions. Forward outright Forex transactions represent another 5% of this daily turnover, with options on �interbank� Forex transactions making up another 8%. Therefore the inter-bank market accounts for 96% of the global foreign exchange market, with the remaining 4% being divided among all the global futures exchanges.
forex options
The simplest definition of currency trading is the practice of exchanging one country's currency for another country's currency. Basically, currency trading involves four main variables: currencies, exchange rate, time, and interest rate. The interplay of these variables creates opportunities for small investors to obtain investment returns that are generally unheard of in the traditional investment world. It is also referred to as foreign exchange, FX or Forex, but the essence remains the same that currency trading is the exchange of one currency against another.
Online Forex Trading Galore
Both banks hold rates
Fri, 09 Nov 2007 08:35:18 GMT
posted by The Broker @ 5:39 PM
0 Comments:
Post a Comment
<< Home