Forex Digest

I am completely new to the world of trading stocks or currency, but I want to get started. I see ads for all these different websites (ameritrade, etrade, etc.), and I was wondering, which (if any) would be the best for a beginner? I'm not looking to get rich quick, but I would like to start investing my money for the long term.

Also, which if any of these sites offers a way to trade currencies? Ideally, I would become a member of the site with the best combination of both of these (trading stocks and currency).

Thanks

There is no “best” on-line company

Mostly all brokerage firms provide their clients with on-line services, including trading platforms, latest market & financial news and research.

Customer need to select the site that is best for them. Traders have requirements in a site, while investors have other requirements.

Although most sites are geared to general securities and commodities, however customers may have special needs for the types of products they trade, and the markets in which they trade.

It seems that the most popular firms for on-line investing all of which provide excellent platforms and services are; Scottrade; Chas.Schwab; TDAmeritrade; Fidelity; E-Trade and Thinkorswim.

Based on your question, the last thing you should be looking for is an "on-line" site,
You should first educate yourself about the securities markets and the products traded on each.
Get to learn the terminology, the rules and the various strategies.

visits to some websites like MSN Money and Yahoo Finance. (http://moneycentral.msn.com/home.asp http://finance.yahoo.com/ )
While at MSN following the strategy lab analysts to get a feel for what the pros are doing and why. This site has some basic information for beginners. If any site offers free information, take it. Other website that can provide instructions and help with procedures and terminology are
Investopedia - http://www.investopedia.com/ Stock Charts - http://stockcharts.com/
Other - http://www.investorshub.com/ http://www.1source4stocks.com/

2008-05-20 04:53:29 by shadowsjc

tradingforexrobot.com forex currency exchange. Get A Forex Robot That Is Capable Of Doubling Your Money Every Single Month... And Is The ONLY ONE ...

is there any science to it?

ANYTHING in this world can be bought and sold...including money.

Lets say the Euro cost US$1.25. Lets say you buy 10,000 Euros. That will cost US$12,500.

Now, lets say that North Korea shoots off an intercontinental ballistic missile in a test and the US shoots it out of the air...and in doing so pisses off China who thinks we should deal with this diplomatically, not militarily. Now China threatens to boycott trading with the US. The result might be that suddenly people DON'T want US $...they fear the US economy will start to sag, that the Chinese won't be buying Motorola phones, whatever.
So, now the US$ is less attractive to people...and it takes MORE dollars to buy a Euro. Lets say it goes from $1.25 to $1.45 for a Euro. Well...remember your earlier Euro trade? You take your 10,000 Euros and buy $US. You know how many you can buy? Well, at US$1.45 to the Euro, you now get $14,500 US dollars. Wow, pretty slick, huh? You made $2000 in a matter of a few weeks on $12,500 simply because Korea shot off a missile.

It works both ways however.

Do people make money trading currencies? Absolutely. Just like people make money doing a million other things. But it is hard hard work...

A science? Yup. An art? Yup. And also a little political science, macro economics, mysticism, and timing.

2006-07-04 08:55:10 by King Money 1985

I want to start trading currency on the foreign exchange but am not sure if I would need to report my returns as income on my federal income tax return. If I do need to report it, how so?

2009-01-16 17:59:52 by Alex L

I wish to learn more about currency exchange trading and investing in developing nations, may it be India, China or Pakistan or other political forms of investment (such as municipal or city bonds or funds or state funds.) in order to spread out my risk in having most of savings being in the US dollars. I just need more information on how to proceed in investing in these markets and if possible information on what pitfalls to avoid.

Forex is the common foreign exchange software, and is promoted in the book idiots foreign currency trading.

Recently however, I've switched to ODL foreign currency and have appreciated the Broker relations and simplicity of the platform.

The Broker's are paid on the front of your trade and various among different Companies.

Reading books will be key to your success. Another book I found help is The 10 Essentials of Forex Trading.

Good Luck !!

2008-01-04 16:10:21 by PeguinBackPacker

I currently use an SSB brokerage/CMA account, but need an account that can carry multiple currencies, allow me to trade on multiple exchanges and allow basic cash management, such as bill pay and normal checking-like features. Any idea if one like this exists?

hi...

I have not worked with much brokers online as most of them are found to be scam. From past 2 years i am using Finexo. It is providing this facility to trade with multiple exchange and allows margin to be deposited in Euro or USD, I am quite satisfied with its services. there are many attractive features of finexo like morning analysis, chart patterns, glossary, trading techniques etc which has make me earn much more than i expected.

My account is very well managed by the account managers and i have no complaints about E-billing, cash recipts etc. thought there are some features which should get improved but still i found this better than any other dealer.

2008-06-11 00:15:25 by Ben W