Forex Brokers - What Are Currenc Brokers?
The forex broker acts as an intermediaries in the currency markets. We require forex brokers to take our orders every time we open a trade. You don't necessarily have to open trades by means of a forex broker though. Floor trading is one way to around them and dealing directly with the banks (Huge sums of money) is another.
Sadly, most of us lack the resilience or the resources essential for floor trading or placing orders through the bank directly. Banks offer forex brokers rates on currency pairs. Forex brokers then offer us higher spreads and this is how they make money. Their profits are derived entirely from the spread. Here are two of the top online forex brokers.
Oanda is a large and accepted forex broker. Back then, they were one of the few that offered numerous base currencies to smaller traders. They started life as a large currency converting provider for larger companies that essential the service. It is the brainchild of Richard Olsen of the Olsen Group. Richard Olsen is responsible for two accepted books on forex trading. The "Forex Traders bill of rights" and "Introduction to High Frequency Trading".
They have collected a good number of awards over the years including the 2009 World finance forex award. Their have variable spreads that are competitive. They have a web based trading platform that users can use from any computer terminal worldwide.
Forex Capital Management (FXCM) probably the most popular forex broker on the internet today. They are famous for having some of the lowest spreads on the market and have been slowly marketing themselves in a number of countries. They are a multi-lingual forex broker with all the major languages covered and it takes as little as $25 to open a micro account with them. 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. - 23217
Sadly, most of us lack the resilience or the resources essential for floor trading or placing orders through the bank directly. Banks offer forex brokers rates on currency pairs. Forex brokers then offer us higher spreads and this is how they make money. Their profits are derived entirely from the spread. Here are two of the top online forex brokers.
Oanda is a large and accepted forex broker. Back then, they were one of the few that offered numerous base currencies to smaller traders. They started life as a large currency converting provider for larger companies that essential the service. It is the brainchild of Richard Olsen of the Olsen Group. Richard Olsen is responsible for two accepted books on forex trading. The "Forex Traders bill of rights" and "Introduction to High Frequency Trading".
They have collected a good number of awards over the years including the 2009 World finance forex award. Their have variable spreads that are competitive. They have a web based trading platform that users can use from any computer terminal worldwide.
Forex Capital Management (FXCM) probably the most popular forex broker on the internet today. They are famous for having some of the lowest spreads on the market and have been slowly marketing themselves in a number of countries. They are a multi-lingual forex broker with all the major languages covered and it takes as little as $25 to open a micro account with them. 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. - 23217
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 @ 6:32 AM
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