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I wanted to take the time and talk to you about currency trading investment techniques. There is a lot of money to be made in this $3 trillion dollar a day market, but if you don't have a strong knowledge of investing than you're really jumping into rough waters without a life jacket. It is estimated that an overwhelming majority of people that enter this market are losing money and they lose for the simple reason that they jump right in without knowing how to protect themselves from a loss. I've been doing this for a few years now, so I'll share a little of what I learned.
Your broker is the most important part of trading. It is the middleman. It holds your money and it is the gatekeeper. Having the best quality broker will take a lot of headaches and anxiety away. The first point I want to make is that all brokers are not equal. There are a lot out there that are of poor quality and some which are just scams. You need to do the necessary research to find a broker that is of quality and meets your needs. The best thing you can do is use online forex forums to read about brokers. These forums are typically full of currency trading investment talk, but there are a lot about brokers.
Showing posts with label Brokers News. Show all posts
Showing posts with label Brokers News. Show all posts
Wednesday, November 12, 2008
Forex Brokers - 9 Essential Points to Consider When you Open an Account
Here are 9 points to consider when choosing a Forex broker.
1. Pip Spreads Offered
Spreads between brokers vary dramatically and the difference can be as much as double so first and foremost when trading FX you need a tight spread
Transaction costs mount up - especially if you are trading frequently and impact on your profits and add to your losses. The tighter the spread, the more profits
you will make.
Today, many brokers offer 3 - 5 pips - and this is what you should look for.
2. Deposit Online & ease of account operation
Look for a broker who will take online payments to your Forex account via and secure online payment method. This is great for funding your account quickly - and getting your trading profits back to.
3. Negative Balance Protection
Leverage or gearing is one of the main reasons that people are attracted to online currency trading. Of course, leverage is a double-edged sword - and where there are high rewards, there is high risk.
With this in mind many Forex brokers now offer guaranteed stops and negative balance protection which is a big comfort to those traders who are new to the market or want to have a finite risk.
Fees for the service tend to be quite competitive and their a popular option with many traders
4. Leverage Offered
The leverage brokers will give you varies from broker to broker, but today 100 – 200:1 leverage is common and some brokers will go as high as 400:1 meaning you have the potential to leverage your account for greater FX profits
5. Other Charges & Broker assist accounts
Your only transaction cost should be the currency spread - you should NOT pay other commissions.
Avoid broker assisted accounts where a broker supposedly will help you make money from Forex trading they wont! If brokers were good traders they wouldn’t be brokers!
If you trade in this way you will lose and you will extra commissions to.
You are responsible for your FX profits so accept this fact and go with an execution only broker.
6. Investment Minimum
Today, currency trading is not just the preserve of wealthy individuals and banks - anyone can get involved and minimum deposits have dropped dramatically.
You can open a trading account online with some Forex brokers with as little as $100.00.
This means that novice traders can start off with small amounts.
7. Trading Platform
If you are trading online, you will go through a Forex trading platform.
You want ease of use and reliability – Many brokers offer demo accounts so try them out.
8. FOREX Trading Education
While you should always make your own investment decisions, it’s good to get some freebies that can help you with your Forex trading strategy such as:
• FREE trading guides
• Forex trading seminars
• Trading news and charts
• Trading recommendations & ideas
• Forex trading systems
• Trading books etc
9. Look at the overall package
When choosing a Forex broker you have a lot of choice and the above tips will help you while there are a lot of small brokers around and many are good go for someone who has been around for a while and is established.
1. Pip Spreads Offered
Spreads between brokers vary dramatically and the difference can be as much as double so first and foremost when trading FX you need a tight spread
Transaction costs mount up - especially if you are trading frequently and impact on your profits and add to your losses. The tighter the spread, the more profits
you will make.
Today, many brokers offer 3 - 5 pips - and this is what you should look for.
2. Deposit Online & ease of account operation
Look for a broker who will take online payments to your Forex account via and secure online payment method. This is great for funding your account quickly - and getting your trading profits back to.
3. Negative Balance Protection
Leverage or gearing is one of the main reasons that people are attracted to online currency trading. Of course, leverage is a double-edged sword - and where there are high rewards, there is high risk.
With this in mind many Forex brokers now offer guaranteed stops and negative balance protection which is a big comfort to those traders who are new to the market or want to have a finite risk.
Fees for the service tend to be quite competitive and their a popular option with many traders
4. Leverage Offered
The leverage brokers will give you varies from broker to broker, but today 100 – 200:1 leverage is common and some brokers will go as high as 400:1 meaning you have the potential to leverage your account for greater FX profits
5. Other Charges & Broker assist accounts
Your only transaction cost should be the currency spread - you should NOT pay other commissions.
Avoid broker assisted accounts where a broker supposedly will help you make money from Forex trading they wont! If brokers were good traders they wouldn’t be brokers!
If you trade in this way you will lose and you will extra commissions to.
You are responsible for your FX profits so accept this fact and go with an execution only broker.
6. Investment Minimum
Today, currency trading is not just the preserve of wealthy individuals and banks - anyone can get involved and minimum deposits have dropped dramatically.
You can open a trading account online with some Forex brokers with as little as $100.00.
This means that novice traders can start off with small amounts.
7. Trading Platform
If you are trading online, you will go through a Forex trading platform.
You want ease of use and reliability – Many brokers offer demo accounts so try them out.
8. FOREX Trading Education
While you should always make your own investment decisions, it’s good to get some freebies that can help you with your Forex trading strategy such as:
• FREE trading guides
• Forex trading seminars
• Trading news and charts
• Trading recommendations & ideas
• Forex trading systems
• Trading books etc
9. Look at the overall package
When choosing a Forex broker you have a lot of choice and the above tips will help you while there are a lot of small brokers around and many are good go for someone who has been around for a while and is established.
Monday, July 14, 2008
FX Solutions Introduces GTS Mobile Forex Trading Platform for Fast, Easy Trading Access
Saddle River, New Jersey, June 3, 2008 – FX Solutions (www.fxsolutions.com), a technology-driven online foreign exchange broker, today introduced GTS Mobile (www.fxsolutions.com/trading/gts-mobile.asp) to give forex traders anytime, anywhere access* to their Global Trading System (GTS) accounts. As with all other GTS platforms, GTS Mobile offers universal account access – allowing users to place trades, access account information and monitor positions opened via any other GTS platform.
“Our customers always want to be able to place a trade when the conditions are right,” said Tom Plaut, Co-CEO at FX Solutions. “GTS Mobile gives customers who are on the road, or those who rely on their mobile devices heavily, a fast and easy way to place an order, whether it is to enter, close or hedge a position.”
As with the recently launched GTS Web online platform, all trades made through GTS Mobile are reflected in the user’s main GTS trading account in real-time. Further, GTS Mobile users enjoy the same 99.45% automated execution of forex orders** they experience through FX Solutions’ other GTS platforms.
Free to all FX Solutions practice and live account holders, GTS Mobile has a rich feature list, with many GTS Pro and GTS Web capabilities optimized for GTS Mobile, offering the ability to:
§ Access accounts via more than 1,200 devices, including Windows Mobile, BlackBerry, Palm and Java-based platforms.
§ Enter market orders
§ View real-time streaming quotes and news
§ Login with single username and password for all four GTS platforms
§ View open positions
§ Create and modify entry orders, stops and limits
§ Generate pending order alerts
§ Show/hide currency pairs to reduce clutter
§ Use forex calculator to see P/L impact of pip moves
“Just as with GTS Web, FX Solutions is committed to offering access to the world’s largest financial market anytime and anywhere,” said Plaut. "Many of our customers live in locations where the reliance on mobile devices is high, and cell phones and PDAs are often used as the primary connection to the Internet. In the US alone, it is estimated that over 9 million mobile device users downloaded applications in 2007.”
In February 2008, FX Solutions merged with City Index Group, a London-based provider of retail derivative trading services, including CFDs, forex and spread betting.
About FX Solutions
FX Solutions is a leading US-based online foreign exchange broker serving both retail and institutional customers. The Company provides IBs and White Label Partners FX trading and risk management in over 100 countries through its Global Trading Systems (GTS) platform. Regulated by the CFTC and NFA, FX Solutions’ custom-engineered suite of applications includes one-click trading, automated execution of orders, a proprietary price
“Our customers always want to be able to place a trade when the conditions are right,” said Tom Plaut, Co-CEO at FX Solutions. “GTS Mobile gives customers who are on the road, or those who rely on their mobile devices heavily, a fast and easy way to place an order, whether it is to enter, close or hedge a position.”
As with the recently launched GTS Web online platform, all trades made through GTS Mobile are reflected in the user’s main GTS trading account in real-time. Further, GTS Mobile users enjoy the same 99.45% automated execution of forex orders** they experience through FX Solutions’ other GTS platforms.
Free to all FX Solutions practice and live account holders, GTS Mobile has a rich feature list, with many GTS Pro and GTS Web capabilities optimized for GTS Mobile, offering the ability to:
§ Access accounts via more than 1,200 devices, including Windows Mobile, BlackBerry, Palm and Java-based platforms.
§ Enter market orders
§ View real-time streaming quotes and news
§ Login with single username and password for all four GTS platforms
§ View open positions
§ Create and modify entry orders, stops and limits
§ Generate pending order alerts
§ Show/hide currency pairs to reduce clutter
§ Use forex calculator to see P/L impact of pip moves
“Just as with GTS Web, FX Solutions is committed to offering access to the world’s largest financial market anytime and anywhere,” said Plaut. "Many of our customers live in locations where the reliance on mobile devices is high, and cell phones and PDAs are often used as the primary connection to the Internet. In the US alone, it is estimated that over 9 million mobile device users downloaded applications in 2007.”
In February 2008, FX Solutions merged with City Index Group, a London-based provider of retail derivative trading services, including CFDs, forex and spread betting.
About FX Solutions
FX Solutions is a leading US-based online foreign exchange broker serving both retail and institutional customers. The Company provides IBs and White Label Partners FX trading and risk management in over 100 countries through its Global Trading Systems (GTS) platform. Regulated by the CFTC and NFA, FX Solutions’ custom-engineered suite of applications includes one-click trading, automated execution of orders, a proprietary price
Sunday, July 13, 2008
worldwide leaders in online trading
Ada, Mich., July 8, 2008 — GFT — worldwide leaders in online trading — today expanded the markets available to forex traders using the company’s DealBook® suite of trading platforms by adding Middle East currencies paired with the U.S. dollar.
The new pairs are the U.S. dollar/United Arab Emirates dirham (USD/AED), U.S. dollar/Kuwait dinar (USD/KWD) and U.S. dollar/Saudi Arabia riyal (USD/SAR). All available currency pairs can be easily sorted, followed and traded with GFT’s award-winning DealBook® 360 desktop trading software, along with the company’s web-based platform, DealBook® WEB and their platform for mobile devices, DealBook® Mobile.
Kurt Hoeksema, vice president of dealing and risk management, GFT, said that the company is excited to open up this area of the world to its customers. “We’re constantly seeking out new opportunities for our customers, and the Middle East is one of the world’s most dynamic regions,” he said. “GFT is committed to offering a wide range of forex choices and the ability to trade the new currency pairs gives our customers even more ways to seek opportunities in the markets.”
He added that the new pairs also benefit customers in the Middle East by offering them the convenience and comfort of trading with currencies with which they may be more familiar. “Local currencies offer customers the advantage of trading with instruments they understand, in terms of regional news that can affect exchange rates,” he said.
Including the new Middle East pairs, the following currencies are currently offered by GFT, ranging from the majors to the Hungarian forint to the South African rand:
AUD/CAD
AUD/CHF
AUD/CZK
AUD/DKK
AUD/HKD
AUD/JPY
AUD/NOK
AUD/NZD
AUD/PLN
AUD/SEK
AUD/SGD
AUD/THB
AUD/USD
AUD/ZAR
CAD/CHF
CAD/DKK
CAD/HKD
CAD/JPY
CAD/NOK
CAD/SEK
CAD/SGD
CHF/CZK
CHF/DKK
CHF/HKD
CHF/HUF
CHF/JPY
CHF/NOK
CHF/PLN
CHF/SEK
CHF/SGD
CHR/TRY
CHF/ZAR
CZK/HUF
CZK/JPY
DKK/CZK
DKK/HUF
DKK/JPY
DKK/NOK
DKK/PLN
DKK/SEK
DKK/SGD
DKK/THB
DKK/ZAR
EUR/AUD
EUR/CAD
EUR/CHF
EUR/CZK
EUR/DKK
EUR/GBP
EUR/HKD
EUR/HUF
EUR/JPY
EUR/MXN
EUR/NOK
EUR/NZD
EUR/PLN
EUR/SEK
EUR/SGD
EUR/THB
EUR/TRY
EUR/USD
EUR/ZAR
GBP/AUD
GBP/CAD
GBP/CHF
GBP/CZK
GBP/DKK
GBP/HKD
GBP/HUF
GBP/JPY
GBP/NOK
GBP/NZD
GBP/PLN
GBP/SEK
GBP/SGD
GBP/THB
GBP/TRY
GBP/USD
GBP/ZAR
HKD/JPY
MXN/JPY
NOK/DKK
NOK/JPY
NOK/SEK
NZD/CAD
NZD/CHF
NZD/CZK
NZD/DKK
NZD/HKD
NZD/HUF
NZD/JPY
NZD/PLN
NZD/SEK
NZD/SGD
NZD/THB
NZD/USD
NZD/ZAR
PLN/CZK
PLN/HUF
PLN/JPY
SEK/JPY
SEK/PLN
SGD/HKD
SGD/JPY
THB/JPY
TRY/JPY
USD/AED
USD/CAD
USD/CHF
USD/CZK
USD/DKK
USD/HKD
USD/HUF
USD/ILS
USD/JPY
USD/KWD
USD/MXN
USD/NOK
USD/PLN
USD/SAR
USD/SEK
USD/SGD
USD/THB
USD/TRY
USD/ZAR
ZAR/JPY
About GFT
Founded in 1997, GFT is a world-leading provider of real–time currency dealing, pricing and comprehensive services for retail and institutional foreign exchange traders. GFT has served a global customer base in more than 120 countries through its DealBook® 360, DealBook® WEB and DealBook® Mobile trading software and 24-hour, 5.5-day-per-week dealing desk operation. The company’s world headquarters is based in Ada, Mich., with global offices located in Chicago, New York, Tokyo, Sydney, Australia and London (London office operated through GFT Global Markets UK Ltd.).
GFT adheres to strict regulatory guidelines and principles of integrity, and is a member of the National Futures Association (NFA) and is regulated by the Community Futures Trading Commission (CFTC) in the United States. Globally, GFT is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Financial Supervisory Agency (FSA) in Japan, and the Financial Services Authority (FSA) in the U.K. More information about GFT can be found at www.gftforex.com.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors.
Contact:
Ryan Knott
rknott@gftforex.com
616.956.9273 x10168
Tim Gort
tgort@gftforex.com
616.942.3757
The new pairs are the U.S. dollar/United Arab Emirates dirham (USD/AED), U.S. dollar/Kuwait dinar (USD/KWD) and U.S. dollar/Saudi Arabia riyal (USD/SAR). All available currency pairs can be easily sorted, followed and traded with GFT’s award-winning DealBook® 360 desktop trading software, along with the company’s web-based platform, DealBook® WEB and their platform for mobile devices, DealBook® Mobile.
Kurt Hoeksema, vice president of dealing and risk management, GFT, said that the company is excited to open up this area of the world to its customers. “We’re constantly seeking out new opportunities for our customers, and the Middle East is one of the world’s most dynamic regions,” he said. “GFT is committed to offering a wide range of forex choices and the ability to trade the new currency pairs gives our customers even more ways to seek opportunities in the markets.”
He added that the new pairs also benefit customers in the Middle East by offering them the convenience and comfort of trading with currencies with which they may be more familiar. “Local currencies offer customers the advantage of trading with instruments they understand, in terms of regional news that can affect exchange rates,” he said.
Including the new Middle East pairs, the following currencies are currently offered by GFT, ranging from the majors to the Hungarian forint to the South African rand:
AUD/CAD
AUD/CHF
AUD/CZK
AUD/DKK
AUD/HKD
AUD/JPY
AUD/NOK
AUD/NZD
AUD/PLN
AUD/SEK
AUD/SGD
AUD/THB
AUD/USD
AUD/ZAR
CAD/CHF
CAD/DKK
CAD/HKD
CAD/JPY
CAD/NOK
CAD/SEK
CAD/SGD
CHF/CZK
CHF/DKK
CHF/HKD
CHF/HUF
CHF/JPY
CHF/NOK
CHF/PLN
CHF/SEK
CHF/SGD
CHR/TRY
CHF/ZAR
CZK/HUF
CZK/JPY
DKK/CZK
DKK/HUF
DKK/JPY
DKK/NOK
DKK/PLN
DKK/SEK
DKK/SGD
DKK/THB
DKK/ZAR
EUR/AUD
EUR/CAD
EUR/CHF
EUR/CZK
EUR/DKK
EUR/GBP
EUR/HKD
EUR/HUF
EUR/JPY
EUR/MXN
EUR/NOK
EUR/NZD
EUR/PLN
EUR/SEK
EUR/SGD
EUR/THB
EUR/TRY
EUR/USD
EUR/ZAR
GBP/AUD
GBP/CAD
GBP/CHF
GBP/CZK
GBP/DKK
GBP/HKD
GBP/HUF
GBP/JPY
GBP/NOK
GBP/NZD
GBP/PLN
GBP/SEK
GBP/SGD
GBP/THB
GBP/TRY
GBP/USD
GBP/ZAR
HKD/JPY
MXN/JPY
NOK/DKK
NOK/JPY
NOK/SEK
NZD/CAD
NZD/CHF
NZD/CZK
NZD/DKK
NZD/HKD
NZD/HUF
NZD/JPY
NZD/PLN
NZD/SEK
NZD/SGD
NZD/THB
NZD/USD
NZD/ZAR
PLN/CZK
PLN/HUF
PLN/JPY
SEK/JPY
SEK/PLN
SGD/HKD
SGD/JPY
THB/JPY
TRY/JPY
USD/AED
USD/CAD
USD/CHF
USD/CZK
USD/DKK
USD/HKD
USD/HUF
USD/ILS
USD/JPY
USD/KWD
USD/MXN
USD/NOK
USD/PLN
USD/SAR
USD/SEK
USD/SGD
USD/THB
USD/TRY
USD/ZAR
ZAR/JPY
About GFT
Founded in 1997, GFT is a world-leading provider of real–time currency dealing, pricing and comprehensive services for retail and institutional foreign exchange traders. GFT has served a global customer base in more than 120 countries through its DealBook® 360, DealBook® WEB and DealBook® Mobile trading software and 24-hour, 5.5-day-per-week dealing desk operation. The company’s world headquarters is based in Ada, Mich., with global offices located in Chicago, New York, Tokyo, Sydney, Australia and London (London office operated through GFT Global Markets UK Ltd.).
GFT adheres to strict regulatory guidelines and principles of integrity, and is a member of the National Futures Association (NFA) and is regulated by the Community Futures Trading Commission (CFTC) in the United States. Globally, GFT is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Financial Supervisory Agency (FSA) in Japan, and the Financial Services Authority (FSA) in the U.K. More information about GFT can be found at www.gftforex.com.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors.
Contact:
Ryan Knott
rknott@gftforex.com
616.956.9273 x10168
Tim Gort
tgort@gftforex.com
616.942.3757
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