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.
Forex
Brokers Info provides detailed information on forex brokers,
forex trading and market makers, and other forex-related topics.
Forex Brokers Info is the sister site of Incorporating
in Florida Web.
