Forex Brokers
It provides retailers with a free demo trading account, allows users to open a live account, gives live help, provides software called the dealer book FX 2, and allows viewing of account documents. (Book dealer FX 2 can be downloaded for the demo trading account).
Gain Capital Group's Online Forex offers 200:1 leverage. In some cases, the overall return on investment is higher because of leverage. For example, with $ 1000 in cash in a margin account the investor control up to $ 200,000 in nominal value. Of course, trading on leverage magnifies both the investor's profit and loss.
GCI Financial Ltd. offers commission free online trading in forex. GCI offers Internet trading software, fast and efficient execution, and 0.5% margin requirement. This broker offers USD or Euro denominated trading accounts. The spreads are 3 pips in EUR / USD and USD / JPY, and is 4 to 5 pips for other major commissions. Clients can hedge by opening positions in the same currency in opposite directions. Risk for the investor is limited to the deposited funds. Market analysis and research, real-time charts and forex trading signals are available free of 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% in U.S. dollar value. They also offer commission-free trading and forex trading with a 1% margin, which means that a trader can manage one million U.S. dollars 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's 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 trading strategies.
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