Forex Broker : What Role Do Forex Brokers Perform?
Forex Brokers perform the role of the middle man when investing in the forex market. We need forex brokers to take our orders every time we open a trade. There are a number of ways around the forex broker. You can trade directly on the floor or if you deal in sums that are huge enough, you can deal with the banks.
Unfortunately, most of us aren't Billionaires and lack the ability and fortitude necessary for the rigors of floor trading. These brokers get a separate currency rate from their respective banks. Money is as the broker charges their customers a higher spread on the currency pair. Their profits are derived entirely from the spread. Here is a evaluation on two of the most accepted forex brokers on the internet today.
Very popular, Oanda is one of the major players in the online currency trading scene. Back then, they were one of the few that offered numerous base currencies to smaller traders. Oanda started out as a currency converter for large businesses such as Samsung. It is the brainchild of Richard Olsen of the Olsen Group. He has penned two popular books that deal with the currency markets, Introduction to high frequency trading and the forex traders bill of rights
They're certainly one of the bigger currency brokers and have won many awards ranging from the 2009 World Finance's Forex Award to the 2008 Euromoney Award For Excellence. Their have variable spreads that are competitive. They use a java based trading platform that enables customers to trade anywhere in the world with a java enabled computer and an internet connection.
FXCM (Forex Capital Management) is arguably th most recognized name in the online currency trading market. They have been aggressively expanding globally and have the lowest spreads among the top online brokers. It costs a mere $25 US to open a FXCM micro account and their website caters to most of the chief global languages. The FXCM trading station II is their platform of choice but they are looking at offering metatrader 4 in the future due to its popularity. Accounts can be had in Euro, British pound, American Dollar, Japanese Yen and the Australia dollar. - 23221
Unfortunately, most of us aren't Billionaires and lack the ability and fortitude necessary for the rigors of floor trading. These brokers get a separate currency rate from their respective banks. Money is as the broker charges their customers a higher spread on the currency pair. Their profits are derived entirely from the spread. Here is a evaluation on two of the most accepted forex brokers on the internet today.
Very popular, Oanda is one of the major players in the online currency trading scene. Back then, they were one of the few that offered numerous base currencies to smaller traders. Oanda started out as a currency converter for large businesses such as Samsung. It is the brainchild of Richard Olsen of the Olsen Group. He has penned two popular books that deal with the currency markets, Introduction to high frequency trading and the forex traders bill of rights
They're certainly one of the bigger currency brokers and have won many awards ranging from the 2009 World Finance's Forex Award to the 2008 Euromoney Award For Excellence. Their have variable spreads that are competitive. They use a java based trading platform that enables customers to trade anywhere in the world with a java enabled computer and an internet connection.
FXCM (Forex Capital Management) is arguably th most recognized name in the online currency trading market. They have been aggressively expanding globally and have the lowest spreads among the top online brokers. It costs a mere $25 US to open a FXCM micro account and their website caters to most of the chief global languages. The FXCM trading station II is their platform of choice but they are looking at offering metatrader 4 in the future due to its popularity. Accounts can be had in Euro, British pound, American Dollar, Japanese Yen and the Australia dollar. - 23221
About the Author:
Forex Broker in addition to Oanda are just several topics that the author specializes in. Prema De Silva has been in the forex trading market for longer than 7 years. Her objective is to share her knowledge on the topic whever she can.
posted by X - Men @ 4:31 AM
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