Your Questions About Forex Online

admin answers:

I don’t think there is a limit, if anything, it is more beneficial the more you have in a trading account, as inevitably you’d get better service from the company, like any bank. I think the TRUE limit, would be that you wouldn’t want to trade billions through an online trader if you could afford the top economists, and simply start a company which trades your own capital?

The limit is truly, what you are prepared to invest, and what you have the TIME to invest.

admin answers:

Wouldn’t it be great to have one broker that does it all?

But a stock broker doesn’t have a license to trade commodities, and vice versa.

And wouldn’t it be great if you could afford the best in the business, the most advanced technologically, on the cutting edge of online trading?

TerraNova is such a broker. Now you can have your cake and eat it too, and trade anything you wish from one broker, albeit, not from one account. Obviously, the laws cannot be broken. Their subsidiary, or is it parent company, Townsend Electronics, is the one that electronified and digitized the NASDAQ, and I believe they’re getting ready to do the American Stock Exchange next.

You’ll be amazed at their trading software. I’ve been using RealTick for over a year, and still haven’t learned how to use all of the features.

It’s all really incredible. I am just a Day Trader in index futures, and have no association with any of these companies, and have nothing to gain by applauding them; they simply deserve the applause, and you should take the opportunity to check them out.

admin answers:

The reason you’re finding a lot of crappy reviews is that forex trading is full of scams. Everyone wants to sell you signals and collect your commissions. Your question already has at least one blatant scam answer.

In real life, Foreign Exchange is a very large market populated by serious experienced professionals. With no experience, you would be a lamb among wolves. You would lose.

Whoever has convinced you that novice forex trading is a good idea has done you a grave disservice. Please reconsider.

admin answers:

Ultimately, you can check with the Securities and Exchange Commission: http://sec.gov/

I use FXDD and they’re for real.

If you already have a futures broker, you can also trade Currency Futures. I also trade the Forex, but I get better fills on the futures.

Actually, I trade the Forex through PermiereTrade software, and most of their customers (over 1,000 on the Message Board) trade through FXDD. But I can choose any broker.

If you don’t already have charting software and a data feed, this may well be what you should be concentrating on. Of the legitimate brokers, they’re all pretty much the same, if the spreads are comparable. You shouldn’t pay over 2 or 3 pip spread on the majors, definately something to ask about.

On the futures, you pay a commission, rather than a spread difference, and they are in points, rather than pips. The currency futures are just like any other commodity. I use a very professional charting and trading platform called RealTick, through TerraNovaOnline; state-of-the-art stuff, technically oriented. TerraNova is the home of the Day Trader. I can trade currency futures for $11 roundtrip, which is not possible on the Forex. I pay $200/month for RealTick, but I think you can get their Investor package for free, which is RealTick just sized down to one screen. I use five 21″ monitors. But Investor would be a good starting point. Check out their free trial offer.

Http://terranovaonline.com/

Here is PremiereTrade’s website:

http://www.premieretradeai.com/index.php

The great thing about PremiereTrade is their Message Boards and their Live Trader Commentary, and the ability to speak with their traders at any time. Keeping you informed is their business, and this is real unusual. They do not tell you when to trade, the software does that, but you are always informed; a definate plus.

Other Forex sites:

http://www.dailyfx.com/

http://www.forexnews.com/

Here’s a good Forex educational site:

http://www.babypips.com/forex-school/market-hours.html

And here’s another legitimate broker, this one international:

http://www.gftforex.com/land/index.asp?aid=500

admin answers:

THIS IS THE MAIL I RECEIVED A FEW DAYS BACK, TRY IT, ALL THE BEST

Dear Kalra,

Thank you for your recent request for information on FOREX.com. I’m pleased to provide more details on opening an account and looking forward to servicing your Forex needs.

Getting started couldn’t be easier.

Complete Application
You can apply online or click here to download an account application. Many clients find the online application the most convenient method of setting up their account.

Once your account is processed, you simply need to fund and you can get started trading right away.

There are several options for funding your account:
Credit Card – the fastest and most convenient way
Wire Transfer
Bank or Cashier’s Check
Personal or Business Check
Should you have any additional questions, please do not hesitate to contact me at (646) 649-8810 or jdash@forex.com. I’m looking forward to having you trade with FOREX.com.

Sincerely,
John Dash