Below you will see a list of Forex currency trading platforms. Forex trading companies allow individuals to trade on the foreign exchange (forex) market, live and in real time. There are a few things to consider when comparing Forex trading services: for one, are you a newcomer to the market? If so, it is worth looking for a Forex trading platform which offers a good 'Demo' account which allows you to trade with virtual money. You might also want extra account management services for your forex currency trading. For experienced forex traders, there are many aspects to think about, like what type of spread suits you and what trade minimum is offered. Please take the time to read the terms and conditions of any trading platform thoroughly.
Compare Forex Trading
Comparing Forex Trading Brokers
Make sure you understand the risks involved and how Forex Trading works before investing your money.
What is the Forex Trading Market?
The foreign exchange market is also referred to as the Forex or FX market and is the market where one currency is traded for another. It is one of the largest markets in the world. There is no central marketplace for the exchange of currency, but instead the trading is conducted electronically through sophisticated online platforms. Forex trading is trading with currencies from different countries against each other.
Who can Trade on the Forex Market?
The market is handled globally and is accessed by banks, corporations, foreign exchange dealers, brokers, travel currency companies and individual investors. Some of the players in the Forex market are simply looking to change one foreign currency for their own. Multinational corporations are always looking for the cheapest way to make their international payments. However, Currency traders also make up a part of the market speculating on currency fluctuations. Currency traders try to take advantage of even small fluctuations in exchange rates.
Why should I trade Forex?
If you know what you are doing then trading in foreign exchange can be one way of investing your money – buy buying and selling currency pairs, you are trying to make a profit and an overall return on your original capital. Trading on the Forex market is a direct way of increasing your capital.
Is Forex trading right for me?
Forex trading like any other form of trading is risky and if you do not know what you are doing then it is probably best to steer clear of Forex trading. With this in mind you need to have a healthy appetite for risk and an understanding for the concepts of the Forex market investment trading. Before considering going into Forex trading make sure you undertake some research, practice and even training because the market can be very volatile so you need to have an understanding of the risks involved.
How can I trade Forex?
Forex trades can be placed through a broker. Most traders set up an online account with a good online Forex broking company. Orders can be made with just a few clicks. Brokers offer a range of products and services for you to consider. They will also be able to offer advice and their expertise of Forex trading.
Is the market regulated?
The market itself is not regulated but Forex brokers should be fully regulated by the ASIC in Australia and by the relevant financial regulating body in other countries.
Check the fees and charges associated with Forex Trading
Not taking into account the losses that you could make with forex trading, the hidden fees and charges that come with forex trading could have a big impact on the total cost. Even if you are able to find a company that provide you with daily tips or webinars, if is irrelevant if all your profits are eaten up in the fees. Check the pay per trade price, any monthly account fees and commission rates. Try and ensure that you get the best account and value for money – above all ensure that it is suitable for you.
08 December 2011
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The Aussie dollar fell half a US cent following the release of disappointing employment data but recovered as the market focused on the European financial crisis. The unemployment rate in Australia rose to 5.3% throughout November from 5.2% in October, according to Australian Bureau of Statistic.
15 April 2011
Currency action the Yen strengthening against majors after the Chinese data and Indian inflation data could prompt the nation to act to cool growth.
30 March 2011
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The foreign exchange market – more often known as the ‘forex’ market – is the world’s biggest financial marketplace.
17 January 2011
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Monday saw a combination of ongoing debt concerns in Europe and a lack of local data creating an environment which weakened the Australian dollar.