Forex Digest

May you provide details to support the answer. Thanks.

Wouldn't it be great to have one broker that does it all?

But a stock broker doesn't have a license to trade commodities, and vice versa.

And wouldn't it be great if you could afford the best in the business, the most advanced technologically, on the cutting edge of online trading?

TerraNova is such a broker. Now you can have your cake and eat it too, and trade anything you wish from one broker, albeit, not from one account. Obviously, the laws cannot be broken. Their subsidiary, or is it parent company, Townsend Electronics, is the one that electronified and digitized the NASDAQ, and I believe they're getting ready to do the American Stock Exchange next.

You'll be amazed at their trading software. I've been using RealTick for over a year, and still haven't learned how to use all of the features.

It's all really incredible. I am just a Day Trader in index futures, and have no association with any of these companies, and have nothing to gain by applauding them; they simply deserve the applause, and you should take the opportunity to check them out.

2006-04-29 09:39:16 by philkid

www.4xgenie.com Online Forex Trading Using Micro and Mini Trading Account. Forex only used to be available as a trading medium for large banks ...

Any tips or certain companies you would recommend? How can I verify for myself they are real?

Ultimately, you can check with the Securities and Exchange Commission: http://sec.gov/

I use FXDD and they're for real.

If you already have a futures broker, you can also trade Currency Futures. I also trade the Forex, but I get better fills on the futures.

Actually, I trade the Forex through PermiereTrade software, and most of their customers (over 1,000 on the Message Board) trade through FXDD. But I can choose any broker.

If you don't already have charting software and a data feed, this may well be what you should be concentrating on. Of the legitimate brokers, they're all pretty much the same, if the spreads are comparable. You shouldn't pay over 2 or 3 pip spread on the majors, definately something to ask about.

On the futures, you pay a commission, rather than a spread difference, and they are in points, rather than pips. The currency futures are just like any other commodity. I use a very professional charting and trading platform called RealTick, through TerraNovaOnline; state-of-the-art stuff, technically oriented. TerraNova is the home of the Day Trader. I can trade currency futures for $11 roundtrip, which is not possible on the Forex. I pay $200/month for RealTick, but I think you can get their Investor package for free, which is RealTick just sized down to one screen. I use five 21" monitors. But Investor would be a good starting point. Check out their free trial offer.

http://terranovaonline.com/

Here is PremiereTrade's website:
http://www.premieretradeai.com/index.php
The great thing about PremiereTrade is their Message Boards and their Live Trader Commentary, and the ability to speak with their traders at any time. Keeping you informed is their business, and this is real unusual. They do not tell you when to trade, the software does that, but you are always informed; a definate plus.

Other Forex sites:
http://www.dailyfx.com/

http://www.forexnews.com/

Here's a good Forex educational site:
http://www.babypips.com/forex-school/mar ket-hours.html

And here's another legitimate broker, this one international:
http://www.gftforex.com/land/index.asp?a id=500

2006-07-30 20:59:30 by The_Chocolate_Moose

They usually call this hedging a currency pair

I enter nothing but hedge positions with both Interbank FX and GFT.

You can also place conservative hedge positions when you buy two currency pairs at the same time such as the USD/CHF and the GBP/USD. This can pay you a net positive interest each day and as a general rule, the two pairs tend to move in opposing directions with each other. Keep in mind though, that the forex market sometimes has a mind of its own and you should never participate without fully understanding and accepting the inherent risks.

Hedge trading is a very intriguing way to participate in the Forex market and very few people actually understand the benefits.

Good luck.

Paul

2007-10-19 17:47:11 by allanmm13

I want to start trading forex, but i've noticed there are several trading brokers/platforms. Can you please tell me which ones are the best to use and why? And more importantly, your experience with your choice.

Thanks
jackson

I use Interbank FX and GFT. I don't find their spreads to be any better or any worse than anyone else but I appreciate their customer service and user friendliness of their apps.

InterbankFX has another cool feature and that is the ability to use their credit or debit cards in order to quickly access money from your account. One word of caution is that all brokers make it very each to put money in....and many make it extremely difficult or time consuming to get money out. I guess they like that float.

The third reason that I like Interbank FX is that they have actually developed an EA for us that monitors my account balance and automatically closes all my positions and locks in my profits using either a profit target or a trailing stop setup. It is very cool waking up and seeing that you have just made $800 while you were asleep.

Lastly, we have negotiated institutional interest rates with both of these firms that are not available to other retail clients.

I hope this helps.

paul

2007-04-27 09:22:07 by progress

Try Saxobank.

2009-08-14 03:39:00 by Hani