Forex News and Reports

Choosing a good Forex broker is the first step in successfully trading the foreign currency market. Obviously with more and more online traders getting in the Forex market, the choice of online brokers has grown exponentially in the past few years and is now almost overwhelming.

Considering that you’ll trust them with your money and they’ll be executing your trades, it’s important to take time to do your research. Here’s what you should be looking for:

1- Account Type Available
2- Spreads / Commissions / Fees
3- Margin / Leverage
4- Execution
5- Rollover Policy
6- Trading Platform
7- Reputation
8- Support

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OREX A to Z: all you need to know to start trading FOREX

Being new to FOREX trading? Don’t worry, getting started in FOREX trading is easy and you can always test your skills first in a demo account before you go ‘live’ with real money. To get started in FOREX trading, we have to get to know what FOREX is. FOREX trading involves buying and selling the different currencies of the world. Buying one currency and selling another at the same time make a FOREX deal. FOREX market is the largest trading market in the world. It yields an average turnover of $1.9 trillion daily and the figure is nearly 30 times larger than the total volume of equity trades in United States.

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Most FOREX traders use a broker to handle their transactions. What exactly is a broker? Strictly speaking, a broker is an individual or a company that buys and sells orders according the investor’s decisions. Brokers earn money by charging a commission or a fee for their services.

A FOREX broker needs to be associated with a large financial institution such as a bank in order to provide the funds necessary for margin trading. In the United States a broker should be registered as a Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC) as protection against fraud and abusive trade practices.

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Even if you have bought and sold homes before, you probably would not want to do it without the help of a licensed real estate broker. The housing market is constantly changing, and you want someone that understands where that market is headed. The added expertise in the field gives you a competitive edge over the rest. The same is true when dealing the FOREX market. A FOREX broker can be a source of information and strength in your trading endeavors. Even seasoned traders, rely heavily on the help of FOREX brokers. Trading is risky business, and your broker can be there to help ease some of the risk off of your plate.

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With the many FOREX currency systems available, you can in theory, simply turn your computer on and follow the signals to generate automatic profits.

That’s the theory - but the fact is, there are many FOREX currency systems sold that are obvious scams, and the systems will never work.

This article aims to give you tips on picking systems that can make money, and avoid the scams.

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The Currency / Foreign Exchange market is the world’s largest and most dynamic market. Nearly $1.8 trillion is traded every day. The word Forex is derived from the words Foreign Exchange.

A Broker is an individual or firm that acts as an intermediary between buyer and seller. Forex brokers are firms that deal in foreign exchange. The foreign exchange market is quite similar to the equity markets, except that typical forex brokers do not charge a commission. However, forex brokers are required to have a license.

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Forex option brokers can generally be divided into two separate categories: forex brokers who offer online forex option trading platforms and forex brokers who only broker forex option trading via telephone trades placed through a dealing/brokerage desk. A few forex option brokers offer both online forex option trading as well a dealing/brokerage desk for investors who prefer to place orders through a live forex option broker.

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The open, fair, and efficient place to trade currencies with a platform that sets new standards on how forex trading is done and by whom.

On July 21, 2005, EBS set a new record by executing almost 110,000 transactions. On that day, OANDA FXTrade executed over 300,000 transactions. FXTrade focuses on the transaction, not the incidentals.

And over half of the clients who opened an FXTrade account in 2001 still traded on FXTrade in 2005. That alone should speak volumes.

Perhaps it’s time to take a closer look at FXTrade. Easier to use. Tighter spreads. Excellent quality of execution. Instantaneous settlement. Uninterrupted service. Great customer service.

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Company Name: ACM Advanced Currency Markets SA
Website Address: http://www.ac-markets.com
Year of company’s foundation: 2002
Year of company’s forex division foundation: 2002
Regulated by: SFDF (Switzerland)
Client base: Private Investors, Banks, Introducing Brokers, Fund Managers, Financial Institutions

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Company Name: IFX Markets
Website Address: http://www.ifxmarketsinc.com
Year of company’s foundation: 1933
Year of company’s forex division foundation: 1995
Regulated by: NFA - CFTC (USA); FSA (UK)
Client base: Novice, Intermediate, Experienced Individual / Corporate Traders. IB Program: CTAs, Brokerage firms, and other Financial Institution.

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Company Name: CMC Markets
Website Address: http://www.cmcmarkets.com
Year of company’s foundation: 1989
Year of company’s forex division foundation: 1989
Regulated by: NFA (USA) FSA (UK) ASIC (AUS) BAFIN (Ger.) OSC (Canada)…
Client base: Novice, Intermediate, Experienced Individual / Corporate Traders. IB Program: CTAs, Brokerage firms, and other Financial Institutions

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Company Name: FXDD
Website Address: http://www.fxdd.com
Year of company’s foundation: 2002
Year of company’s forex division foundation: 2002
Regulated by: Subsidiary of Tradition, Regulated by NFA - SEC
Client base: Individual retail traders, hedge funds, Introducing Brokers, asset managers and White Label clients and FCM’s
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Company Name: MG Financial Group
Website Address: http://www.mgforex.com
Year of company’s foundation: 1992
Year of company’s forex division foundation: 1992
Regulated by: NFA - CFTC (USA)
Client base: Private and Institutionalclients from over 90 countries.

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Company Name: Synthesis Bank
Website Address: http://www.tradingfloor.com
Year of company’s foundation: 1991
Year of company’s forex division foundation: 1991
Regulated by: CFB (Switzerland)
Client base: Private and institutional investors.

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Company Name: Spencer Financial LLC
Website Address: http://www.spencerfx.com
Year of company’s foundation: 2003
Year of company’s forex division foundation: 2004
Regulated by: CFTC - NFA (USA)
Client base: Spencer Financial provides online brokerage services to a worldwide base of retail and institutional clients - position traders, day traders, scalpers, money managers. Spencer also offers white-label strategic partnership to established institutions.

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Company Name: Western Capital Forex S.A.
Website Address: http://www.westcapfx.com/
Year of company’s foundation: 1990
Year of company’s forex division foundation: 2005
Regulated by: OAR-G (Switzerland)
Client base: Client’s base is intermediate and experienced individuals

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Company Name: Capital Market Services LLC
Website Address: http://www.cmsfx.com
Year of company’s foundation: 1999
Year of company’s forex division foundation: 1999
Regulated by: NFA - CFTC (USA)
Client base: More than 6,000 customers from all over the world. We serve private investors, financial institutions, corporations, money managers and introducing brokers.

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Saxo Bank was founded in 1992, although they officially attained European bank status in June of 2001. Based in Gentofte, Denmark, Saxo Bank services clients in 115 countries around the world.

Thousands of online traders look to Saxo Bank for online trading of Foreign Exchange (FX), Stocks, Stocks on Margin (CFDs), Futures and fixed income products. As a fully licensed and regulated European bank, Saxo Bank is a world leader in multi-product online trading and we support a truly global client base of retail clients, corporations and financial institutions.

Unique to the Forex Market, Saxo bank allows traders to have their money professionally managed by Saxo’s Money Managers, while allowing the investor the ability to collateralize 70-100% of their managed funds for them to self trade an account as well. This allows traders to double their potential earning power.

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FXCM is one of the largest non-bank FCM’s and is one of the world’s largest Forex Dealer Members (according to the financial data posted on the CFTC website). In addition, FXCM has been awarded Best Retail Platform by FX Week in 2004, and also recognized as Best Currency Broker by both Shares and T2W Member Choice Awards in 2004, and also Best FX Specialist by Stocks & Commodities in 2002, 2003, and 2004.

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FOREX.com is a division of GAIN Capital Group, one of the most respected online forex trading firms in the industry. The company’s flagship service, GAIN Capital, is used by institutional investors, professional money managers and experienced day traders from over 140 countries. GAIN Capital Group is pleased to offer individual investors access to its award-winning trading platform and professional-level services via FOREX.com.

FOREX.com is a registered Futures Commission Merchant (NFA ID #0339826) and a member of the National Futures Association. As an FCM, FOREX.com is regulated by the Commodity Futures Trading Commission (CFTC), must uphold the highest standards and business practices and is subject to strict financial requirements and reporting. Interested parties can visit the NFA web site at any time to review FOREX.com’s record as an NFA member in good standing.

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