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A Look At Online Forex Brokers
By: Eddie Tobey
An online forex broker is a firm that facilitates retail trading using Internet
technologies. Global Forex Trading (GFT), one of the popular online forex
brokers. It provides retail traders with a free demo trading account, allows
users to open a live account, gives live help, provides software called DealBook
FX 2, and allows viewing of account documents. (DealBook FX 2 can be downloaded
for the demo trading account).
Gain Capital Group’s Online Forex offers 200:1 leverage. In some cases, the
total return on investment is higher due to leverage. For example, with $1000
cash in a margin account, the investor can control up to $200,000 in notional
value. Of course, trading on leverage magnifies both the investor’s profits and
losses.
GCI Financial Ltd. offers commission-free online trading in forex. GCI offers
Internet trading software, fast and efficient execution, and 0.5% margin
requirements. This broker offers USD or Euro denominated trading accounts. The
spreads are 3 pips in EUR/USD and USD/JPY, and are 4 to 5 pips for other major
commissions. Clients can hedge by opening positions in the same currency in
opposite directions. Risk to the investor is limited to the deposited funds.
Market analysis and research, real-time charts, and forex trading signals are
available at no charge.
ACM, part of the REFCO group, offers 3 pip spreads on all major currencies,
which works out to between 0.02% and 0.03% on the dollar value. They also offer
commission-free trading, and forex trading with a 1% margin, which means that a
trader can control $1,000,000 with $10,000 in his account.
There are many online forex brokers that offer free demo accounts for potential
forex traders to practice trading. It is only a matter of registering and
starting demo trading to get a feel for forex trading. In addition, at most
sites, traders can find free forex news to assist them with their trade
strategies.
About the Author:
Forex Brokers provides detailed information on forex brokers, forex trading and
market makers, and other forex-related topics. For more information go to
http://www.e-forexbrokers.com and/or visit its sister site at http://www.e-incorporatinginflorida.com
for related information.
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