Forex services | Advanced Currency Market
# ACM customers can trade spot foreign exchange online via our online currency dealing software 24 hours from Sunday night 23:00 CET to Friday night 23:00 CET. Click for a list of the spot currency pairs tradeable online.# ACM customers can trade foreign exchange by telephone in English, French, Spanish, Italian, German and Greek and Russian. Our physical dealing desk is staffed with experienced dealers available 24 hours from Sunday night 23:00 CET to Friday night 23:00 CET.
# Customer support is ready to assist customers in English, French, Spanish, Italian, German, Portuguese, Greek, Arabic, Turkish, Chinese and Farsi with any questions from Monday 09:00 CET to Friday 19:00 CET.
Welcome to the Forex Blog, your source for currency trading news! We are currently in negotiations with Forex guru Adam Kritzer. More to come.
The information revolution has dramatically changed the way in which the financial industry conducts business. Transactions have become faster and inexpensive to conduct, more and more financial products have become available to the general public. Retail Forex is one of the investment products brought to life in the Internet age.No matter how sophisticated technology could be, trust remains the foundation of the financial industry. Smaller commissions do not matter if the broker gives little respect to the customer, smaller spreads are irrelevant if execution is with “slippage.” When I began working in the futures industry over 25 years ago, much of the business was conducted on a handshake basis. Today, when technology enables us to do business with people who we have never met in person, trust and good name becomes the most valued commodity.
There are many Forex brokers across the globe, some more trustworthy than others. Only a handful are regulated by respective governing organizations established to protect investors from bad broker practices (such as National Futures Association). Not all are committed to life-long relations with their customers, and even fewer make a genuine effort to educate their customers.
We at Forex Club understand what trading, and for that matter Forex trading, is about. Success in trading is to have the knowledge and understanding of available resources and instruments, as well as proper risk management. We mobilize our senior traders and analysts with decades of experience to provide you with superb training programs.
I sincerely wish that the information on our website will be of great educational value and enable you to have a better understanding of the markets and give you the insight to become a more successful trader.
Forex trading and Currency trading by Saxo Bank
Welcome to Saxo BankThousands of online traders look to Saxo Bank for online trading of Foreign Exchange (FX), Stocks, Stocks on Margin (CFDs), Futures and fixed income products. As a fully licensed and regulated European bank, Saxo Bank is a world leader in multi-product online trading and we support a truly global client base of retail clients, corporations and financial institutions.
Trade Terms - Terms and Conditions - MasterForex
Masterforex provides comfortable conditions for every participant of the Forex market, offering a series of advantages both for new-comers and professionals.Masterforex offers two available types of real accounts:
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Cent accounts*: minimal deposit 1$, volume of trade from 0.1 microlot, 1 pip roughly equals 1 cent;
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Dollar accounts: minimal deposit 25$, volume of trade from 0.01 standard lot, 1 pip roughly equals 0,1 $;* Balance of cent accounts appears in cents
Forex Trading - About Us - ForexCentral.net
Welcome to Forex Central, the one-stop resource for the online currency markets.The goal of our site, from its original inception in 2003 was to provide an informative guide to the forex markets for the retail forex trader. Our focus is in providing a wide source of high quality forex information in a userfriendly format to help and educate the forex trader, or those interested in forex trading. We are an independent site with unbiased and accurate content.
With our recent re-launch, Forex Central now features Forex charts, rates, real-time commentary, tutorials and much more. We have also built up a directory of what we think are the best Forex related websites on the net today.
One of the new features of the site is the integration of Find-a-Broker (FAB), a database driven search engine that offers detailed information about Forex Brokers and their services. The sophisticated nature of the FAB enables traders to make advanced searches by keyword or criteria, providing highly targeted results.
The Forex Central Team
OANDA FXLabs is a place for you to come and discover what OANDA has been working on recently. New tools you can take for a test drive. New tools we are considering. And beta releases of new products.Take a look. Tell us what you think, and help us improve. Your comments count, which is why each tool has its own forum. And come back frequently: new tools and improvements will be added regularly.
How To Select A Broker / Shady Broker Practices
HOW TO SELECT A FOREX BROKERWith 154 brokers to choose from, it is certainly an understatement to say that it is no simple task to find the ideal forex broker, one who meets your every need and trading preference. The following is a short list of the major factors you might want to consider before you open an account and start active trading.
Broker Types: Brokers fall into one of two classifications – market makers (MMs) and those who offer Electronic Communications Network (ECN) trading. Market makers (MMs), the vast majority, offer traders the means to trade with and against the broker. MMs offer a single bid/ask price per currency pair. The second group, Electronic Communications Network (ECN) brokers, offer traders the ability to post their own bid/ask rates. As a result, traders often see multiple bid/ask prices driven not by the broker but fellow spot traders and liquidity providers. MMs offer fixed spreads that on average range from a 1 1/2 to 5 pips. Spreads on ECN platforms are driven by demand and typically range from 0 – 3 pips. While a very small number of MMs charge a transaction fee, the vast majority do not. ECN brokers charge a nominal transaction fee which ranges from $4 to $10 a round turn ($2 to $5 a side) per standard lot. Only one ECN broker we are aware of accommodates mini trading and traders pay a $1 transaction fee per round turn per mini lot. Of the 154 brokerage houses to choose from, only three currently offer ECN trading. In some circles ECNs are also referred to as non-dealing desk brokers.
Minimum Deposit. Minimum initial deposits range from $200 to $7,500.
Minimum Trade Size: For the retail spot trader, minimum lot sizes vary from a low of 1,000 (mico mini) to a high of 100,000 (standard lot). Most new traders trade in mini (10,000) lots.
Minimum Margin Requirement: Margin requirements, the amount of money one must have on deposit to cover a call on a given trade, vary from 1/4% to 2%.
Leverage: Brokers offer leverage anywhere from 50:1 to 400:1. Generally speaking, the lower the initial deposit requirement, the higher the leverage offered. Brokers who offer 400:1 leverage appeal to traders willing to take greater risk. Those offering 50:1 have a tendency to appeal to conservative traders.
Number of Currency Pairs: While most traders focus on trading major currency pairs, the trader who is looking for hedging opportunities may prefer to work with a broker offering as many pairs as possible. Currently, the number of pairs offered by mainstream brokers ranges from a low of 8 to a high of 120.
Trading Platform: In the end broker trading platforms are software programs and while a spot trader could, given enough time, learn to use any platform, traders will find some very easy to learn, some are quite cumbersome, awkward, and/or intimidating.
Execution: The speed at which a live order is filled. A delay of a second is common place but any greater delay is a sign that the broker doesn’t have enough liquidity to cover the position, the broker doesn’t have enough bandwidth to handle active trading, or the broker is manually controlling the order fulfillment process. Execution times in a demo account should never be used as a measure of a broker’s ability to fill an order. Demo platforms offer unlimited liquidity so there is nothing (except limited bandwidth) to delay order fulfillment. Of all of the factors to be taken into consideration, in the end this is by far the most important.
Trading Style Accommodation: Since all brokers assume a degree of market risk trading as counterparties to their clients’ trades, they have a need to control their exposure to risk. As a result, most put constraints on trading to limit their exposure. Most brokers place a ceiling on the size of trades or require all trades to be open for a minimum period of time. Regarding the latter constraint, we are aware of only one that accommodates scalping - the execution of short term trades by individuals looking to use arbitrage to take small profits on a large number of trades.
Negative Account Balance Policy. Is your risk limited to the funds you have on deposit or is it virtually unlimited? Does the broker have in place an automated system to protect you from losing more money than you have on deposit? If your account could go to a negative balance, how long do you have to deposit additional funds before your open positions are liquidated? While these issues could be resolved with a telephone call, you are well advised to review the broker’s trading agreement. That agreement is ultimately going to serve as the source document and it should clearly state the brokerage firm’s obligations to you and your obligations to them should a problem and/or dispute arise.
Service & Technical Support: Does the broker have an 800 number or online support service capability where you can get your problem questions resolved quickly? When you contact their support staff are they knowledgeable, patient, considerate and helpful?
Crisis Management: In the unlikely event that you have open trades and you lose access to the trading platform, you’d need the assurance that your trades can be closed manually. Does the broker offer the means to cancel trades via phone?
Personal Preferences: Once all other factors have been considered, the single most important factor is the trading platform itself. Does it offer all of the features you’re looking for? Is it user friendly or awkward?
Accounting Practices: Most brokers have excellent back office programs to reconcile trades. A few do not. The only way to ensure that your trading records are accurate is to keep your own records and to reconcile them with the broker’s activity report.
Fidelity Bond: Traders are well advised to do business with a broker who carries fidelity insurance. While that coverage does not protect the trader from a broker’s insolvency, it does offer a degree of protection from fraud.
Demo Account Trading: All brokers offer traders the opportunity to familiarize themselves with forex trading using a demo account. Unfortunately, while demo accounts do enable traders to practice their trading skills, to familiarize themselves with the broker’s platform, and to hone the mechanics of trading, demo trading is not the same as live trading. While demo account orders are filled immediately, live trades are often delayed and for two good reasons. First, liquidity is not an issue when it comes to demo account trading – it’s unlimited. Second, neither trader or broker assumes any degree of risk. It’s one thing to hypothesize that an order will be filled, it’s quite another to see how long it takes to process an order in the real world when one has to find a counterparty willing to take one’s trade.
Shady Broker Practices:
Reorders: These days reorders are pretty much a thing of the past, but if you find that the broker is in the habit of countering trades with alternative pricing, you would be well advised to find another broker.Slippage: Slippage is a pricing practice used by some broker’s to generate an additional pip in profit or two on a given trade. Instead of delivering what’s available, the broker boosts rates by an additional pip. If the execution price is consistently higher (as is the case of a buy order) or lower (as in the case of a sell order) than what is being displayed on your screen, find another broker. This is a difficult practice to document, but if you suspect this is happening to you, take your business elsewhere.
Pricing Irregularities: There are two occasions when you will see a spike in rates – a blip on the screen that shows a significant, momentary price movement 1) when a broker purposefully boosts rates to nullify a trader’s position or 2) when the broker’s liquidity provider does the same thing.. Like slippage, spikes are difficult to document but if you think you’ve been spiked, consider changing brokers. Don’t buy the argument that this was a programming error or glitch. Spiking is a deliberate means by which some unscrupulous brokers and liquidity providers manipulate the market.