Forex Broker - Their Role And Functions In The Forex Market
The middle man role in forex trading is assumed by forex brokers. We need forex brokers to take our orders every time we open a trade. There are a number of ways around the forex broker. Dealing directly with banks are an option only the richest traders have while floor trading is the other way around brokers.
Alas, most of us aren't Billionaires and lack the ability and resilience essential for the rigors of floor trading. Banks offer forex brokers rates on currency pairs. Forex brokers then offer us higher spreads and this is how they make money. The difference in the spreads are how they ultimately make money. Here is a analysis on two of the most popular forex brokers on the internet today.
Very accepted, Oanda is one of the largest players in the online currency trading scene. Even from the beginning, they offered trading accounts in various base currencies. They started life as a large currency converting provider for bigger companies that necessary the service. It is the brainchild of Richard Olsen of the Olsen Group. He has authored two books on forex trading with one of them being the famed manifesto, the forex traders bill of rights
They're unquestionably one of the larger currency brokers and have won various awards ranging from the 2009 World Finance's Forex Award to the 2008 Euromoney Award For Excellence. Their have variable spreads that are competitive. Oanda uses a java based trading software that clients can log into from any computer as long as it has an internet connection.
FXCM is the worlds most popular online forex broker to date. They offer some of the lowest spreads found anywhere to micro account holders and have been branching out internationally. Their services are offered in most chief languages (Chinese, Arabic, French etc) and opening a FXCM Micro account costs just $25. They are currently testing out Metatrader 4 as a platform but their bread and butter platform is the trading station II. Accounts can be had in Euro, British pound, American Dollar, Japanese Yen and the Australia dollar. - 23208
Alas, most of us aren't Billionaires and lack the ability and resilience essential for the rigors of floor trading. Banks offer forex brokers rates on currency pairs. Forex brokers then offer us higher spreads and this is how they make money. The difference in the spreads are how they ultimately make money. Here is a analysis on two of the most popular forex brokers on the internet today.
Very accepted, Oanda is one of the largest players in the online currency trading scene. Even from the beginning, they offered trading accounts in various base currencies. They started life as a large currency converting provider for bigger companies that necessary the service. It is the brainchild of Richard Olsen of the Olsen Group. He has authored two books on forex trading with one of them being the famed manifesto, the forex traders bill of rights
They're unquestionably one of the larger currency brokers and have won various awards ranging from the 2009 World Finance's Forex Award to the 2008 Euromoney Award For Excellence. Their have variable spreads that are competitive. Oanda uses a java based trading software that clients can log into from any computer as long as it has an internet connection.
FXCM is the worlds most popular online forex broker to date. They offer some of the lowest spreads found anywhere to micro account holders and have been branching out internationally. Their services are offered in most chief languages (Chinese, Arabic, French etc) and opening a FXCM Micro account costs just $25. They are currently testing out Metatrader 4 as a platform but their bread and butter platform is the trading station II. Accounts can be had in Euro, British pound, American Dollar, Japanese Yen and the Australia dollar. - 23208
About the Author:
Forex Broker and Interbankfx are just a few topics that the author specializes on. Prema De Silva has been active in the forex trading markets for over 7 years. Her ambition is to share her knowledge on the topic whever she can.
posted by X - Men @ 4:59 AM
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