Forex Basics
The following is an introduction to some basic terms, definitions and concepts used in forex trading. It is designed to be read in chronological order, starting with the most simplest terms and moving through to some more advanced terms used in the forex market, or you can click on any individual term if you want an explanation of a specific term.
Basics
Automatic Execution
Base Currency
Bid
Buy Quote
Counter Currency
Counterparty
Currency Pair
Currency Pair Terminology
Dealing Desk
Drawdown
ECN
Exchange Rate
FCM
Foreign Exchange
Foreign Exchange Market
ISO Currency Codes
Leverage
Lot
Manual Execution
Market Maker
Margin
Micro Account
Mini Account
NDD
Offer
Pip
Pip Value
Resistance
Rollover
Sell Quote
Slippage
Spot Market
Spread
Standard Account
Support
Terms Currency
Basic Order Types
GTC Order
Limit-Entry Order
Limit Order
Market Order
OCO Order
Stop-Entry Order
Stop-Loss Order
Basic Trade Types
Long Position
Short Position
Basic Trading Styles
Automated Trading
Carry Trading
Day Trading
Discretionary Trading
Fundamental Trading
News Trading
Position Trading
Range Trading
Scalping
Swing Trading
Technical Trading
Trend Trading
Example Trade
Click Here
Introduction
Foreign Exchange
The simultaneous transaction of one currency for another.
Foreign Exchange Market
The Foreign exchange market is a large, growing and liquid financial market that operates 24 hours a day. It is not a market in the traditional sense because there is no central trading location or “exchange". Most of the trading is conducted by telephone or through electronic trading networks. The primary market for currencies is the “interbank market” where banks, insurance companies, large corporations and other large financial institutions manage the risks associated with fluctuations in currency rates.
Spot Market
The market for buying and selling currencies at the current market rate.
Rollover
A spot transaction is generally due for settlement within two business days (the value date). The cost of rolling over a transaction is based on the interest rate differential between the two currencies in a transaction. If you are long (bought) the currency with a higher rate of interest you will earn interest. If you are short (sold) the currency with a higher rate of interest you will pay interest. Most brokers will automatically roll over your open positions allowing you to hold your position indefinitely.
* How to calculate rollover interest
* Rollovers in Forex
Exchange Rate
The value of one currency expressed in terms of another. For example, if EUR/USD is 1.3200, 1 Euro is worth US$1.3200.
Currency Pair
The two currencies that make up an exchange rate. When one is bought, the other is sold, and vice versa.
Base Currency
The first currency in the pair. Also the currency your account is denominated in.
Counter Currency
The second currency in the pair. Also known as the terms currency.
ISO Currency Codes
USD = US Dollar
EUR = Euro
JPY = Japanese Yen
GBP = British Pound
CHF = Swiss Franc
CAD = Canadian Dollar
AUD = Australian Dollar
NZD = New Zealand Dollar
For a full list, see ISO Currency Codes
Currency Pair Terminology
EUR/USD = "Euro"
USD/JPY = "Dollar Yen"
GBP/USD = "Cable" or "Sterling"
USD/CHF = "Swissy"
USD/CAD = "Dollar Canada" (CAD referred to as the "Loonie")
AUD/USD = "Aussie Dollar"
NZD/USD = "Kiwi"
FCM
Futures Commission Merchant. An individual or organisation licensed by the U.S. Commodities Futures Trading Commission (CFTC) to deal in futures products and accept monies from clients to trade them.
Market Maker
A market maker provides pricing for a particular currency pair and stands ready to buy or sell that pair at the quoted price. A market maker takes the opposite side of your trade and has the option of either holding that position or partially or fully offsetting it with other dealers, managing their aggregate exposure to the market. A market maker earns their commission from the spread between the bid and offer price.
* Example of Market Makers
Forex ECN Broker
ECN is an acronym for Electronic Communications Network. A Forex ECN broker provides a marketplace where multiple market makers, banks and traders can enter competing bids and offers into the platform either inside or outside the spread, allowing traders to have their trades filled by multiple liquidity providers. A trader might have their buy order filled by liquidity provider "A", and close the same order against liquidity provider "B", or have the trade filled by the bid or offer of another trader. The best bid and offer is displayed to the trader with the combined available volume displayed at each price. An ECN charges a small fee for each transaction.
* Example of ECN Brokers
Dealing Desk
A dealing desk provides pricing and liquidity and executes trades.
NDD
An acronym for 'No Dealing Desk'. A no-dealing desk broker uses external liquidity providers to provide pricing and liquidity for its clients. The liquidity providers send in competing bids and offers into the platform, and the broker displays the best available bid and offer to the trader.
* Example of No Dealing Desk Brokers
Counterparty
One of the participants in a transaction.
Sell Quote / Bid Price
The sell quote is displayed on the left and is the price at which you can sell the base currency. It is also referred to as the market maker's bid price. For example, if the EUR/USD quotes 1.3200/03, you can sell 1 Euro at the bid price of US$1.3200.
Buy Quote / Offer Price
The buy quote is displayed on the right and is the price at which you can buy the base currency. It is also referred to as the market maker's ask or offer price. For example, if the EUR/USD quotes 1.3200/03, you can buy 1 Euro at the offer price of US$1.3203.
Spread
The difference between the sell quote and the buy quote or the bid and offer price. For example, if EUR/USD quotes read 1.3200/03, the spread is the difference between 1.3200 and 1.3203, or 3 pips. In order to break even on a trade, a position must move in the direction of the trade by an amount equal to the spread.
Pip
The smallest price increment a currency can make. Also known as points. For example, 1 pip = 0.0001 for EUR/USD, or 0.01 for USD/JPY.
Pip Value
The value of a pip. Pip value can be either fixed or variable depending on the currency pair. e.g. The pip value for EUR/USD is always $10 for standard lots, $1 for mini-lots and $0.10 for micro lots.
* How to Calculate Pip Values
* Pip Value Calculator
Lot
The standard unit size of a transaction. Typically, one standard lot is equal to 100,000 units of the base currency, 10,000 units if it's a mini, or 1,000 units if it's a micro. Some dealers offer the ability to trade in any unit size, down to as little as 1 unit.
Standard Account
Trading with standard lot sizes, generally 100,000 units of the base currency. e.g. The pip value is $10 for EUR/USD.
Mini Account
Trading with mini lot sizes, generally 10,000 units of the base currency. e.g. The pip value is $1 for EUR/USD.
Micro Account
Trading with micro lot sizes, generally 1,000 units of the base currency. e.g. The pip value is $0.10 for EUR/USD.
Margin
The deposit required to open or maintain a position. Margin can be either "free" or "used". Used margin is that amount which is being used to maintain or open a position, whereas free margin is the amount available to open new positions. With a $1,000 margin balance in your account and a 1% margin requirement to open a position, you can buy or sell a position worth up to a notional $100,000. This allows a trader to leverage his account by up to 100 times or a leverage ratio of 100:1. If a traders account falls below the minimum amount required to maintain an open position, he will receive a "margin call" requiring him to either add more money into his or her account or to close the open position. Most brokers will automatically close a traders open positions when the margin balance falls below the amount required to keep the positions open. The amount required to maintain an open position is dependent on the broker and could be 50% of the original margin required to open the trade.
Leverage
Leverage is the ability to gear your account into a position greater than your total account margin. For instance, if a trader has $1,000 of margin in his account and he opens a $100,000 position, he leverages his account by 100 times, or 100:1. If he opens a $200,000 position with $1,000 of margin in his account, his leverage is 200 times, or 200:1. Increasing your leverage magnifies both gains and losses.
To calculate the leverage used, divide the total value of your open positions by the total margin balance in your account. For example, if you have $10,000 of margin in your account and you open one standard lot of USD/JPY (100,000 units of the base currency) for $100,000, your leverage ratio is 10:1 ($100,000 / $10,000). If you open one standard lot of EUR/USD for $150,000 (100,000 x EURUSD 1.5000) your leverage ratio is 15:1 ($150,000 / $10,000).
* Understanding leverage Part I
* Understanding leverage Part II
* Calculate Leverage
Manual Execution
An order which is executed by dealer intervention.
Automatic Execution
The order is executed automatically without dealer intervention or involvement.
Slippage
The difference between the order price and the executed price, measured in pips. Slippage often occurs in fast moving and volatile markets, or where there is manual execution of trades.
Drawdown
The decline in account balance from peak to valley, until the account surpasses the previous high, usually measured in percentage terms.
Support
Support is a technical price level where buyers outweigh sellers, causing prices to bounce off a temporary price floor.
Resistance
Resistance is a technical price level where sellers outweigh buyers, causing prices to bounce off a temporary price ceiling.
Common Order Types
Market Order
An order to buy or sell at the current market price.
Limit Order
An order to buy or sell at a pre-specified price level.
Stop-Loss Order
An order to restrict losses at a pre-specified price level.
Limit Entry Order
An order to buy below the market or sell above the market at a pre-specified level, believing that the price will reverse direction from that point.
Stop-Entry Order
An order to buy above the market or sell below the market at a pre-specified level, believing that the price will continue in the same direction.
OCO Order
One Cancels Other. An order whereby if one is executed, the other is cancelled.
GTC Order
Good Till Cancelled. An order stays in the market until it is either filled or cancelled.
Common Trade Types
Long Position
A position in which the trader attempts to profit from an increase in price. i.e. Buy low, sell high.
Short Position
A position in which the trader attempts to profit from a decrease in price. i.e. Sell high, buy low.
Common Trading Styles
Technical Analysis
A style of trading that involves analysing price charts for technical patterns of behaviour.
* Technical Analysis Books
Fundamental Analysis
A style of trading that involves analysing the macroeconomic factors of an economy underpinning the value of a currency and placing trades that support the trader's long or short-term outlook.
Trend Trading
A style of trading that attempts to profit from riding short, medium or long term trends in price.
* Forex Trend Trading System
Range Trading
A style of trading that attempts to profit from buying and selling currencies between a lower level of support and an upper level of resistance. The upper level of resistance and the lower level of support defines the range. The range forms a price channel where the price can be seen to oscillate between the two levels of support and resistance.
* Article: Identifying Trending & Range Bound Currencies
News Trading
A style of trading whereby a trader attempts to profit from fundamental news announcements on a country's economy that may affect the value of a currency, usually seeking short term profit immediately after the announcement is released.
Scalping
A style of trading that involves frequent trading seeking small gains over a very short period of time. Trades can last from seconds to minutes.
Day Trading
A style of trading that involves multiple trades on an intra-day basis. Trades can last from minutes to hours.
* Forex Day Trading Systems
Swing Trading
A style of trading that involves seeking to profit from short to medium term swings in trend. Trades can last from hours to days.
Carry Trading
A style of trading whereby the trader attempts to profit from holding a currency with a higher rate of interest and selling a currency with a lower rate of interest, profiting from the daily interest rate differential of the position.
Position Trading
A style of trading that involves taking a longer term position that reflects a longer term outlook. Trades can last from weeks to months.
Discretionary Trading
A style of trading that uses human judgement and decision making in every trade.
* Managed Discretionary Accounts
Automated Trading
A style of trading that involves neither human decision making nor involvement, but uses a pre-programmed strategy based on technical or fundamental analysis to automatically execute trades via an automated software programme.
* Automated Trading Systems
* Managed Automated Accounts
Example Trade
Assume you have a trading account at a broker that requires a 1% margin deposit for every trade. The current quote for EUR/USD is 1.3225/28 and you want to place a market order to buy 1 standard lot of 100,000 Euros at 1.3228, for a total value of US$132,280 (100,000 * $1.3228). The broker requires you to deposit 1% of the total, or $1322.80 to open the trade. At the same time you place a take-profit order at 1.3278, 50 pips above your order price. In taking this trade you expect the Euro to strengthen against the U.S. dollar.
As you expected, the Euro strengthens against the U.S. dollar and you take your profit at 1.3278, closing out the trade. As each pip is worth US$10, your total profit for this trade is $500, for a total return of 38%.
Related Links
* Introduction to Forex
* Ask-an-Expert Forum
* Forex Market Snapshot
* Online Money Management Calculator
* Forex Money Management Article
* Free Position Size Calculator
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Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
Friday, January 30, 2009
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Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
You must have a Java plugin installed and enabled. Please download one from e.g. Sun
Launch Popup
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Bookmark this page | Email this page
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
Forex Broker Ratings 2008/09
Forex Broker Ratings 2008/09
May 1, 2008 - April 30, 2009
* Rate Your Broker
* Broker Reviews
* Broker List
Current Ratings
Click on the headings to sort the table
Broker ↓ Type ↓ Options Votes ↓ Avg. Rating ↓ Weighted Avg. Rating ↓ Reviews
MB Trading ECN Rate
Compare 8 7.4 6.5 MB Trading Reviews
Dukascopy ECN Rate 4 8.0 6.4 Dukascopy Reviews
FXCM NDD Rate
Compare 15 5.6 5.4 FXCM Reviews
FX Solutions MM Rate 8 5.9 5.4 FX Solutions Reviews
Oanda MM Rate
Compare 19 5.3 5.2 Oanda Reviews
CMC Markets MM Rate 6 5.7 5.2 CMC Markets Reviews
Alpari MM Rate 6 5.3 5.0 Alpari Reviews
Forex.com MM Rate 15 4.9 4.8 Forex.com Reviews
Mig Investments MM Rate 2 5.5 4.7 Mig Investments Reviews
Interbank FX NDD Rate 22 4.2 4.2 Interbank FX Reviews
FXDD MM Rate 8 4.1 4.2 FXDD Reviews
CMS Forex MM Rate 5 4.2 4.2 CMS Forex Reviews
ODL Securities MM Rate 4 4.0 4.1 ODL Securities Reviews
Saxo Bank MM Rate 4 3.5 3.8 Saxo Bank Reviews
GFT Forex MM Rate 7 3.1 3.5 GFT Forex Reviews
Realtime Forex MM Rate 1 1.0 3.4 Realtime Forex Reviews
Interactive Brokers ECN Rate
Compare 5 2.8 3.3 Interactive Brokers Reviews
Easy Forex MM Rate 5 2.4 3.1 Easy Forex Reviews
FXCM Micro MM Rate 2 1.5 3.1 FXCM Micro Reviews
Gain Capital MM Rate 4 2.0 3.0 Gain Capital Reviews
GCI Financial MM Rate 7 2.3 2.9 GCI Financial Reviews
Totals & Averages: 157 4.2 4.3
Previous Results
* 2007/08 Ratings
* 2006/07 Ratings
* 2005/06 Ratings
* 2004/05 Ratings
* Rate Your Broker
Other Brokers
Broker ↓ Options Votes ↓ Avg. Rating ↓ Weighted Avg. Rating ↓ Reviews
Exto Capital Rate 5 8.2 7.1 Exto Capital Reviews
FXOpen Rate 3 8.3 6.9
England Foreign Exchange Rate 2 9.0 6.8 England Foreign Exchange Reviews
ACM Rate 12 7.0 6.7 ACM Reviews
IFC Markets Rate 2 8.5 6.6
ForexGen Rate 1 10.0 6.5 ForexGen Reviews
MasterForex Rate 1 10.0 6.5
TradeView Forex Rate 7 6.7 6.3 TradeView Forex Reviews
Forex Club Rate 2 7.0 6.0 Forex Club Reviews
Forex Metal Rate 1 8.0 6.0 Forex Metal Reviews
i-Trade FX Rate 1 8.0 6.0 i-Trade FX Reviews
Lite Forex Rate 2 6.5 5.8
EFX Group Rate 1 7.0 5.8 EFX Group Reviews
GTL Trading Rate 3 5.7 5.5 GTL Trading Reviews
Marketiva Rate 2 5.5 5.4 Marketiva Reviews
E-Global Forex Rate 1 3.0 4.8
AvaFX Rate 2 3.5 4.6 Ava FX Reviews
thinkorswim Rate 1 2.0 4.5 thinkorswim Reviews
FxPro Rate 3 3.3 4.4 FxPro Reviews
GFX Group Rate 1 1.0 4.3 GFX Group Reviews
North Finance Rate 1 1.0 4.3 North Finance Reviews
Questrade Rate 1 1.0 4.3 Questrade Reviews
STIFX Rate 1 1.0 4.3 STIFX Reviews
IG Markets Rate 4 2.3 3.6 IG Markets Reviews
Crown Forex Rate 3 1.0 3.2 Crown Forex Reviews
Totals & Averages: 63 5.4 5.5
* Rate Your Broker
Previous Results
* 2007/08 Ratings
* 2006/07 Ratings
* 2005/06 Ratings
* 2004/05 Ratings
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Bookmark this page | Email this page
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
May 1, 2008 - April 30, 2009
* Rate Your Broker
* Broker Reviews
* Broker List
Current Ratings
Click on the headings to sort the table
Broker ↓ Type ↓ Options Votes ↓ Avg. Rating ↓ Weighted Avg. Rating ↓ Reviews
MB Trading ECN Rate
Compare 8 7.4 6.5 MB Trading Reviews
Dukascopy ECN Rate 4 8.0 6.4 Dukascopy Reviews
FXCM NDD Rate
Compare 15 5.6 5.4 FXCM Reviews
FX Solutions MM Rate 8 5.9 5.4 FX Solutions Reviews
Oanda MM Rate
Compare 19 5.3 5.2 Oanda Reviews
CMC Markets MM Rate 6 5.7 5.2 CMC Markets Reviews
Alpari MM Rate 6 5.3 5.0 Alpari Reviews
Forex.com MM Rate 15 4.9 4.8 Forex.com Reviews
Mig Investments MM Rate 2 5.5 4.7 Mig Investments Reviews
Interbank FX NDD Rate 22 4.2 4.2 Interbank FX Reviews
FXDD MM Rate 8 4.1 4.2 FXDD Reviews
CMS Forex MM Rate 5 4.2 4.2 CMS Forex Reviews
ODL Securities MM Rate 4 4.0 4.1 ODL Securities Reviews
Saxo Bank MM Rate 4 3.5 3.8 Saxo Bank Reviews
GFT Forex MM Rate 7 3.1 3.5 GFT Forex Reviews
Realtime Forex MM Rate 1 1.0 3.4 Realtime Forex Reviews
Interactive Brokers ECN Rate
Compare 5 2.8 3.3 Interactive Brokers Reviews
Easy Forex MM Rate 5 2.4 3.1 Easy Forex Reviews
FXCM Micro MM Rate 2 1.5 3.1 FXCM Micro Reviews
Gain Capital MM Rate 4 2.0 3.0 Gain Capital Reviews
GCI Financial MM Rate 7 2.3 2.9 GCI Financial Reviews
Totals & Averages: 157 4.2 4.3
Previous Results
* 2007/08 Ratings
* 2006/07 Ratings
* 2005/06 Ratings
* 2004/05 Ratings
* Rate Your Broker
Other Brokers
Broker ↓ Options Votes ↓ Avg. Rating ↓ Weighted Avg. Rating ↓ Reviews
Exto Capital Rate 5 8.2 7.1 Exto Capital Reviews
FXOpen Rate 3 8.3 6.9
England Foreign Exchange Rate 2 9.0 6.8 England Foreign Exchange Reviews
ACM Rate 12 7.0 6.7 ACM Reviews
IFC Markets Rate 2 8.5 6.6
ForexGen Rate 1 10.0 6.5 ForexGen Reviews
MasterForex Rate 1 10.0 6.5
TradeView Forex Rate 7 6.7 6.3 TradeView Forex Reviews
Forex Club Rate 2 7.0 6.0 Forex Club Reviews
Forex Metal Rate 1 8.0 6.0 Forex Metal Reviews
i-Trade FX Rate 1 8.0 6.0 i-Trade FX Reviews
Lite Forex Rate 2 6.5 5.8
EFX Group Rate 1 7.0 5.8 EFX Group Reviews
GTL Trading Rate 3 5.7 5.5 GTL Trading Reviews
Marketiva Rate 2 5.5 5.4 Marketiva Reviews
E-Global Forex Rate 1 3.0 4.8
AvaFX Rate 2 3.5 4.6 Ava FX Reviews
thinkorswim Rate 1 2.0 4.5 thinkorswim Reviews
FxPro Rate 3 3.3 4.4 FxPro Reviews
GFX Group Rate 1 1.0 4.3 GFX Group Reviews
North Finance Rate 1 1.0 4.3 North Finance Reviews
Questrade Rate 1 1.0 4.3 Questrade Reviews
STIFX Rate 1 1.0 4.3 STIFX Reviews
IG Markets Rate 4 2.3 3.6 IG Markets Reviews
Crown Forex Rate 3 1.0 3.2 Crown Forex Reviews
Totals & Averages: 63 5.4 5.5
* Rate Your Broker
Previous Results
* 2007/08 Ratings
* 2006/07 Ratings
* 2005/06 Ratings
* 2004/05 Ratings
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Bookmark this page | Email this page
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
Forex Broker Comparison
Forex Broker Comparison
Firm ↓ Type ↓ Min. Deposit ↓ Min. Margin | Max. Leverage ↓ Typical Spread (Majors) ↓ Commissions ↓ Pairs ↓ Min. Trade Size ↓ Reviews ↓
MB Trading ECN $400 1% | 100:1 0-3 $5 per $100k 22 1,000 units MB Trading Reviews
FXCM NDD $300 0.5% | 200:1 2-4 $0 25 10,000 units FXCM Reviews
CitiFX Pro MM $10,000 2% | 50:1 2-4 $0 140+ 5,000 units
CMC Markets MM $2,000 0.5% | 200:1 2-3 $0 60 $10,000 CMC Reviews
dbFX MM $5,000 1% | 100:1 2-4 $0 34 100,000 units
Dukascopy ECN $50,000 1% | 100:1 ½-3 $1.80 per $100k 16 100,000 units Dukascopy Reviews
FX Solutions MM $250 0.25% | 400:1 3-4 $0 20 1,000 units FX Solutions Reviews
Interactive Brokers ECN $10,000 2% | 50:1 1-3 $2 per $100k 90 $25,000 Interactive Brokers Reviews
IFX Markets (cbfx) MM $500 1% | 100:1 2-3 $0.625 per 10k lot 27 10,000 units IFX Markets Reviews
Oanda MM $0 2% | 50:1 1½-3½ $0 38 $1 Oanda Reviews
Realtime Forex MM €2,500 1% | 100:1 3-4 $0 33 €10,000 Realtime Forex Reviews
Note: Where $0 commissions are concerned, the broker is compensated for their services through the bid/ask spread
Related Links:
Rate Your Broker
Broker Ratings
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Bookmark this page | Email this page
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread. Due to the high degree of leverage used in forex trading, investors should only use risk capital because there is always the risk of substantial loss. Forex trading may not be appropriate for all investors. Account access, trade executions and system response may be adversely affected by market conditions, quote delays, system performance and other factors.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
Firm ↓ Type ↓ Min. Deposit ↓ Min. Margin | Max. Leverage ↓ Typical Spread (Majors) ↓ Commissions ↓ Pairs ↓ Min. Trade Size ↓ Reviews ↓
MB Trading ECN $400 1% | 100:1 0-3 $5 per $100k 22 1,000 units MB Trading Reviews
FXCM NDD $300 0.5% | 200:1 2-4 $0 25 10,000 units FXCM Reviews
CitiFX Pro MM $10,000 2% | 50:1 2-4 $0 140+ 5,000 units
CMC Markets MM $2,000 0.5% | 200:1 2-3 $0 60 $10,000 CMC Reviews
dbFX MM $5,000 1% | 100:1 2-4 $0 34 100,000 units
Dukascopy ECN $50,000 1% | 100:1 ½-3 $1.80 per $100k 16 100,000 units Dukascopy Reviews
FX Solutions MM $250 0.25% | 400:1 3-4 $0 20 1,000 units FX Solutions Reviews
Interactive Brokers ECN $10,000 2% | 50:1 1-3 $2 per $100k 90 $25,000 Interactive Brokers Reviews
IFX Markets (cbfx) MM $500 1% | 100:1 2-3 $0.625 per 10k lot 27 10,000 units IFX Markets Reviews
Oanda MM $0 2% | 50:1 1½-3½ $0 38 $1 Oanda Reviews
Realtime Forex MM €2,500 1% | 100:1 3-4 $0 33 €10,000 Realtime Forex Reviews
Note: Where $0 commissions are concerned, the broker is compensated for their services through the bid/ask spread
Related Links:
Rate Your Broker
Broker Ratings
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Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread. Due to the high degree of leverage used in forex trading, investors should only use risk capital because there is always the risk of substantial loss. Forex trading may not be appropriate for all investors. Account access, trade executions and system response may be adversely affected by market conditions, quote delays, system performance and other factors.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
Forex Broker List
Forex Broker List
Forex ECN-type Brokers (No Dealing Desk)
* MB Trading - Rate MB Trading | Compare | MB Trading Reviews
* Dukascopy - Rate Dukascopy | Compare
* Hotspot FX - Rate Hotspot FX | Hotspot FX Reviews
* Interactive Brokers - Rate Interactive Brokers | Compare | Interactive Brokers Reviews
What is a Forex ECN?
No Dealing Desk Brokers
* FXCM - Rate FXCM | Compare | FXCM Reviews
What is a 'No Dealing Desk' Broker?
Forex Market Makers
* CitiFX Pro - Rate CitiFX Pro | Compare
* CMC Markets - Rate CMC Markets | Compare | CMC Markets Reviews
* CMS Forex - Rate CMS Forex | CMS Forex Reviews
* dbFX - Rate dbFX | Compare
* eToro - Rate eToro
* Forex.com - Rate Forex.com | Forex.com Reviews
* FXDD - Rate FXDD | FXDD Reviews
* FX Solutions - Rate FX Sol | Compare | FX Solutions Reviews
* Gain Capital - Rate Gain Capital | Gain Capital Reviews
* GFT Forex - Rate GFT Forex | GFT Forex Reviews
* IFX Markets US - Rate IFX Markets US | Compare | IFX Markets Reviews
* MF Global - Rate MF Global
* MG Forex - Rate MG Forex | Compare | MG Forex Reviews
* Oanda - Rate Oanda | Compare | Oanda Reviews
* RCG Trader - Rate RCG Trader
* Realtime Forex - Rate Realtime Forex | Compare
* RJO FX - Rate RJO FX
* Saxo Bank - Rate Saxo Bank | Saxo Bank Reviews
What is a Market Maker?
Forex MetaTrader Platforms
MetaTrader Programming: Do you need an EA or indicator programmed for MetaTrader? Click Here
* FXCM - Rate FXCM | Compare | FXCM Reviews
* Alpari - Rate Alpari | Alpari Reviews
* ATC Brokers - Rate ATC Brokers
* Forex.com - Rate Forex.com | Forex.com Reviews
* FXDD - Rate FXDD | FXDD Reviews
* Interbank FX - Rate Interbank FX | Interbank FX Reviews
* Mig Investments - Rate Mig Investments | Mig Investments Reviews
* ODL Securities - Rate ODL Securities | ODL Securities Reviews
* TradeView Forex - Rate TradeView Forex | TradeView Forex Reviews
* Velocity4x - Rate Velocity4x
MT4-ECN bridge: MT4 brokers: Do you need an MT4 to ECN/no dealing desk bridge? We can help. Click Here
Institutional Banks, Brokers & Multibank Platforms
(For larger traders, corporates and institutions)
* Barx by Barclays Capital - Rate Barclays Capital
* Bloomberg Professional - Rate Bloomberg Professional
* Citigroup - Rate Citigroup
* Currenex - Rate Currenex
* Deutsche Bank - Rate Deutsche Bank
* EBS by ICAP - Rate EBS
* FXall - Rate FXall
* FX Connect® - Rate FX Connect®
* FXMarketSpace - Rate FXMarketSpace
* Hotspot FXi - Rate Hotspot FXi
* LavaFX - Rate LavaFX
* RTFX by Reuters - Rate RTFX by Reuters
* UBS - Rate UBS
Note: These listings are provided for your convenience and do not represent an endorsement of any particular broker. Please do your own due diligence first before opening an account with a particular broker.
Related Links:
* Broker Guide
* Rate Your Broker
* Broker Ratings
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Bookmark this page | Email this page
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
Forex ECN-type Brokers (No Dealing Desk)
* MB Trading - Rate MB Trading | Compare | MB Trading Reviews
* Dukascopy - Rate Dukascopy | Compare
* Hotspot FX - Rate Hotspot FX | Hotspot FX Reviews
* Interactive Brokers - Rate Interactive Brokers | Compare | Interactive Brokers Reviews
What is a Forex ECN?
No Dealing Desk Brokers
* FXCM - Rate FXCM | Compare | FXCM Reviews
What is a 'No Dealing Desk' Broker?
Forex Market Makers
* CitiFX Pro - Rate CitiFX Pro | Compare
* CMC Markets - Rate CMC Markets | Compare | CMC Markets Reviews
* CMS Forex - Rate CMS Forex | CMS Forex Reviews
* dbFX - Rate dbFX | Compare
* eToro - Rate eToro
* Forex.com - Rate Forex.com | Forex.com Reviews
* FXDD - Rate FXDD | FXDD Reviews
* FX Solutions - Rate FX Sol | Compare | FX Solutions Reviews
* Gain Capital - Rate Gain Capital | Gain Capital Reviews
* GFT Forex - Rate GFT Forex | GFT Forex Reviews
* IFX Markets US - Rate IFX Markets US | Compare | IFX Markets Reviews
* MF Global - Rate MF Global
* MG Forex - Rate MG Forex | Compare | MG Forex Reviews
* Oanda - Rate Oanda | Compare | Oanda Reviews
* RCG Trader - Rate RCG Trader
* Realtime Forex - Rate Realtime Forex | Compare
* RJO FX - Rate RJO FX
* Saxo Bank - Rate Saxo Bank | Saxo Bank Reviews
What is a Market Maker?
Forex MetaTrader Platforms
MetaTrader Programming: Do you need an EA or indicator programmed for MetaTrader? Click Here
* FXCM - Rate FXCM | Compare | FXCM Reviews
* Alpari - Rate Alpari | Alpari Reviews
* ATC Brokers - Rate ATC Brokers
* Forex.com - Rate Forex.com | Forex.com Reviews
* FXDD - Rate FXDD | FXDD Reviews
* Interbank FX - Rate Interbank FX | Interbank FX Reviews
* Mig Investments - Rate Mig Investments | Mig Investments Reviews
* ODL Securities - Rate ODL Securities | ODL Securities Reviews
* TradeView Forex - Rate TradeView Forex | TradeView Forex Reviews
* Velocity4x - Rate Velocity4x
MT4-ECN bridge: MT4 brokers: Do you need an MT4 to ECN/no dealing desk bridge? We can help. Click Here
Institutional Banks, Brokers & Multibank Platforms
(For larger traders, corporates and institutions)
* Barx by Barclays Capital - Rate Barclays Capital
* Bloomberg Professional - Rate Bloomberg Professional
* Citigroup - Rate Citigroup
* Currenex - Rate Currenex
* Deutsche Bank - Rate Deutsche Bank
* EBS by ICAP - Rate EBS
* FXall - Rate FXall
* FX Connect® - Rate FX Connect®
* FXMarketSpace - Rate FXMarketSpace
* Hotspot FXi - Rate Hotspot FXi
* LavaFX - Rate LavaFX
* RTFX by Reuters - Rate RTFX by Reuters
* UBS - Rate UBS
Note: These listings are provided for your convenience and do not represent an endorsement of any particular broker. Please do your own due diligence first before opening an account with a particular broker.
Related Links:
* Broker Guide
* Rate Your Broker
* Broker Ratings
advertisement*
Bookmark this page | Email this page
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
*Disclaimer: Any opinions or recommendations expressed on any third party website are solely those of the independent providers and are not the opinions, recommendations or necessarily the views of GoForex. GoForex does not provide any legal, tax, accounting or investment advice concerning the suitability or profitability of any security or investment. GoForex has taken reasonable measures to ensure the accuracy of the information on the website, however, does not guarantee its accuracy, and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through this website. Any performance claims made by third-party advertisements on this site are not necessarily indicative of future results. ZuluTrade and the FCM are compensated by the difference between the bid and ask spread.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
Forex Broker Guide
Forex Broker Guide
See also General Forex Guide
Introduction
The following is a list of questions you may like to consider before opening an account. You can use this checklist to narrow down your selection of companies that fit your requirements. You may also wish to refer to the forex broker ratings page on this site to read about traders unique experiences with particular brokers.
The following links will also give you some background information on U.S. FCM's (Futures Commission Merchants).
* Selected Financial Data for FCM's
* NFA Background Affiliation Status
1. Word of Mouth
* What do other traders say about the broker?
* What is their customer service like?
2. Customer Protection
* Is the broker regulated?
* What regulatory organisation are they registered with and what protections does it afford you?
* Are client funds insured against fraud?
* Are client funds insured against bankruptcy?
3. Execution
* What business model do they operate? i.e. Are they a Market Maker[?], ECN[?] or no-dealing desk broker[?]?
* How fast is their order execution?
* Are orders manually or automatically executed? [?]
* What is the maximum trade size before you have to request a quote?
* Are all clients trades offset?
4. Spread [?]
* How tight is the spread?
* Is it fixed or variable?
5. Slippage [?]
* How much slippage can be expected in normal and fast moving markets?
6. Margin [?]
* What is the margin requirement? e.g. 0.25% margin = max 400:1 leverage [?]), 0.5% margin = max 200:1 leverage, 1% margin = max 100:1 leverage, 2% margin = max 50:1 leverage, etc.
* Does the margin requirement change for different currency pairs or days of the week?
* At what point will the broker issue a margin call?
* Is it the same for standard and mini accounts? [?]
7. Commissions
* Do they charge commissions? (Most market makers' commissions are built into the spread)
8. Rollover Policy [?]
* Is there a minimum margin requirement in order to earn rollover interest?
* What are the swap rates like for going long or short in a particular currency pair?
* Are there any other conditions for earning rollover interest?
9. Trading Platform
* How intuitive and functional is it to use?
* Are there many disconnections during trading hours?
* How reliable is it during fast moving markets and news announcements?
* How many different currency pairs can you trade?
* Do they offer an Application Programming Interface (API) to allow you to automate your trading system?
* Does it offer any other special features? (e.g. One click dealing, trading from the chart, trailing stops, mobile trading etc.)
10. Trading Account
* What is the minimum balance required to open an account?
* What is the minimum trade size?
* Can you adjust the standard lot size traded? [?]
* Can you earn interest on the unused margin balance in your account?
Related Links:
* General Forex Guide
* Preferred Forex Brokers
* Forex Broker Ratings
* Forex Broker Comparison
* Forex Broker List
advertisement*
Bookmark this page | Email this page
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Due to the high degree of leverage used in forex trading, investors should only use risk capital because there is always the risk of substantial loss. Forex trading may not be appropriate for all investors. Account access, trade executions and system response may be adversely affected by market conditions, quote delays, system performance and other factors.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
See also General Forex Guide
Introduction
The following is a list of questions you may like to consider before opening an account. You can use this checklist to narrow down your selection of companies that fit your requirements. You may also wish to refer to the forex broker ratings page on this site to read about traders unique experiences with particular brokers.
The following links will also give you some background information on U.S. FCM's (Futures Commission Merchants).
* Selected Financial Data for FCM's
* NFA Background Affiliation Status
1. Word of Mouth
* What do other traders say about the broker?
* What is their customer service like?
2. Customer Protection
* Is the broker regulated?
* What regulatory organisation are they registered with and what protections does it afford you?
* Are client funds insured against fraud?
* Are client funds insured against bankruptcy?
3. Execution
* What business model do they operate? i.e. Are they a Market Maker[?], ECN[?] or no-dealing desk broker[?]?
* How fast is their order execution?
* Are orders manually or automatically executed? [?]
* What is the maximum trade size before you have to request a quote?
* Are all clients trades offset?
4. Spread [?]
* How tight is the spread?
* Is it fixed or variable?
5. Slippage [?]
* How much slippage can be expected in normal and fast moving markets?
6. Margin [?]
* What is the margin requirement? e.g. 0.25% margin = max 400:1 leverage [?]), 0.5% margin = max 200:1 leverage, 1% margin = max 100:1 leverage, 2% margin = max 50:1 leverage, etc.
* Does the margin requirement change for different currency pairs or days of the week?
* At what point will the broker issue a margin call?
* Is it the same for standard and mini accounts? [?]
7. Commissions
* Do they charge commissions? (Most market makers' commissions are built into the spread)
8. Rollover Policy [?]
* Is there a minimum margin requirement in order to earn rollover interest?
* What are the swap rates like for going long or short in a particular currency pair?
* Are there any other conditions for earning rollover interest?
9. Trading Platform
* How intuitive and functional is it to use?
* Are there many disconnections during trading hours?
* How reliable is it during fast moving markets and news announcements?
* How many different currency pairs can you trade?
* Do they offer an Application Programming Interface (API) to allow you to automate your trading system?
* Does it offer any other special features? (e.g. One click dealing, trading from the chart, trailing stops, mobile trading etc.)
10. Trading Account
* What is the minimum balance required to open an account?
* What is the minimum trade size?
* Can you adjust the standard lot size traded? [?]
* Can you earn interest on the unused margin balance in your account?
Related Links:
* General Forex Guide
* Preferred Forex Brokers
* Forex Broker Ratings
* Forex Broker Comparison
* Forex Broker List
advertisement*
Bookmark this page | Email this page
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Due to the high degree of leverage used in forex trading, investors should only use risk capital because there is always the risk of substantial loss. Forex trading may not be appropriate for all investors. Account access, trade executions and system response may be adversely affected by market conditions, quote delays, system performance and other factors.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
Forex Hedge Funds
Forex Hedge Funds
If you are interested in investing in forex hedge funds and you meet one of the requirements of an "accredited investor", please complete the form below.
* For individuals, you must either have earned more than US$200,000 per year for the previous two years and expect to make the same amount this year, or, more than $300,000 with your spouse; or
* Have net assets worth more than US$1 million either individually or with your spouse.
For organisational entity requirements, please click here
Forex Hedge Fund Inquiry Form:
* First Name:
* Last Name:
* Your email address:
Organisation:
* Country:
Telephone:
country code + area code + number
* Funds Available:
* Enter the security code shown: img
If you want to invest in a forex managed account, please visit Managed Forex Accounts.
How Do Hedge Fund's Work?
Hedge funds are lightly regulated investment vehicles which offer sophisticated investors and institutions the chance to make consistent returns regardless of market direction. They have historically provided a hedge against market risk by utilising various different strategies, markets and instruments in their goal of providing consistent returns in all market conditions.
Related Links
Managed Forex Accounts
Forex Auto Trading Systems
advertisement*
Bookmark this page | Email this page
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
If you are interested in investing in forex hedge funds and you meet one of the requirements of an "accredited investor", please complete the form below.
* For individuals, you must either have earned more than US$200,000 per year for the previous two years and expect to make the same amount this year, or, more than $300,000 with your spouse; or
* Have net assets worth more than US$1 million either individually or with your spouse.
For organisational entity requirements, please click here
Forex Hedge Fund Inquiry Form:
* First Name:
* Last Name:
* Your email address:
Organisation:
* Country:
Telephone:
country code + area code + number
* Funds Available:
* Enter the security code shown: img
If you want to invest in a forex managed account, please visit Managed Forex Accounts.
How Do Hedge Fund's Work?
Hedge funds are lightly regulated investment vehicles which offer sophisticated investors and institutions the chance to make consistent returns regardless of market direction. They have historically provided a hedge against market risk by utilising various different strategies, markets and instruments in their goal of providing consistent returns in all market conditions.
Related Links
Managed Forex Accounts
Forex Auto Trading Systems
advertisement*
Bookmark this page | Email this page
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
©2004-2009 GoForex. All Rights Reserved. *Disclaimer
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