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Sunday, February 05, 2006

How to choose an online Forex Firm or Broker ?

The objective of the trader is to trade with market moves to try to gain small to medium sized profits in any given trading day. The caracteristics of the trading station provided by the online broker is very important.
What to look for in an online Forex Firm:
1. Low Spreads. In Forex Trading the ‘spread’ is the difference between the buy and sell price of any given currency pair. The lower the spread saves the trader money. Most firms offer 4-5 pip spreads in the Major Currency pairs. The best firms offer clients 3-5 pips.
2. Low minimum account openings.
For those that are new to trading, and for those that don’t have thousands of dollars in risk capital to trade, being able to open a mini trading account with only $200 is a great feature for new traders.
3. Instant automatic execution of your orders.
This is very important when choosing a Forex firm. You want instant execution of your orders and the price you see and ‘click’ is the price that you should get.
4 Free charting and technical analysis.
You need a firm that gives you access to the best charting and technical analysis available to active traders, a firm that gives clients free professional charting services and even allows traders to trade directly on the charts!
5. High Leverage
You need high leverage; the ability to trade a large amount with a small margin deposit. Some of the best firms offer 400:1 leverage.

6. Hedging Capability
That means the flexibility of opening positions on the same currency pair in opposite directions without eliminating each other and without margin increase!

Marketiva is one of the new generation of brokers who broke the rules: NO MINIMUM limit for opening an account, you also get $5 welcome bunus to test, and they accept funding with egold.

**If you want to open a Marketiva account click the banner below:


3 Comments:

At 11:54 AM, Blogger Bloggerbiz said...

Thank you for your blog. forex trading is a good way to make money online today.

 
At 3:05 AM, Blogger Lucky said...

What forex broker are you using? I'm using forex.com

I've started a forex blog and i'll post my results there: http://www.starttradeforex.blogspot.com

Maybe we can race...

 
At 1:00 PM, Blogger Demet said...

www.tradersdevelopment.com


They have the best platform for trading.
I believe it is offered through FXCM now. Check out the website!

 

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