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5 Reasons to Trade Forex Instead of Stocks
While Forex trading is becoming more popular in the United
States, the vast majority of investors still do not understand
the massive advantages offered in the foreign currency market
when compared to equities or fixed income trading. When...
A Look at the Participants in the FOREX Market
FOREX does not trade at a fixed exchange rate; instead, currencies are traded primarily between the participants in the market. The broad categories of participants are...
A Short History of the FOREX Market
The Foreign Exchange Market (Forex) grew out of necessity so that central banks could exchange their national currency for the currency of other countries...
Moving Average Convergence Divergence (MACD)
Moving Average Convergence Divergence (MACD) is a popular indicator to help determine price trends...
Fundamental Analysis
Fundamental analysts use fundamental economic and political information (e.g. unemployment rates, economic policies, inflation, and growth rates) about the countries involved in the currency pairs they trade...
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A Look at Online Forex Brokers
An online forex broker is a firm that facilitates retail trading using Internet technologies.
Easy Forex provides a revolutionary visual trading platform with real time quotes, competitive spreads and 24/7 support, which is necessary for any serious forex trader. They also provide live training and a free eBook for newer traders and traders that want to improve their skills.
Global Forex Trading (GFT), one of the popular online forex brokers, provides retail traders with a free demo trading account, allows users to open a live account, gives live help, provides software called DealBook FX 2, and allows viewing of account documents. (DealBook FX 2 can be downloaded for the demo trading account).
Gain Capital Group’s Online Forex offers 200:1 leverage. In some cases, the total return on investment is higher due to leverage. For example, with $1000 cash in a margin account, the investor can control up to $200,000 in the trade. Of course, trading on leverage magnifies both the investor’s profits and losses.
GCI Financial Ltd. offers commission-free online trading in forex. GCI offers Internet trading software, fast and efficient execution, and 0.5% margin requirements. This broker offers USD or Euro denominated trading accounts. The spreads are 3 pips in EUR/USD and USD/JPY, and are 4 to 5 pips for other major commissions. Clients can hedge by opening positions in the same currency in opposite directions. Risk to the investor is limited to the deposited funds. Market analysis and research, real-time charts, and forex trading signals are available at no charge.
ACM, part of the REFCO group, offers 3 pip spreads on all major currencies, which works out to between 0.02% and 0.03% on the dollar value. They also offer commission-free trading, and forex trading with a 1% margin, which means that a trader can control $1,000,000 with $10,000 in his account.
There are many online forex brokers that offer free demo accounts for potential forex traders to practice trading. It is only a matter of registering and starting demo trading to get a feel for forex trading. In addition, at most sites, traders can find free forex news to assist them with their trade strategies.
When you are analyzing potential option positions, it
helps to have a computer program like Option-Aid that
swiftly calculates volatility impacts, probabilities,
statistics, and other parameters of interest. These
programs can pay for themselves with the first trade that
they help you with.
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