Welcome to currency trading broker
Forex Brokers. Current Trading Platform Problems, and Their Solutions
Here is some guidance on selecting your forex broker.
It is highly advisable to only open accounts with a regulated broker or bank ,as unfortunately their is no global regulatory agency to monitor the various activities of the worlds currency markets, each country may have different rules and regulations to another.
It is best to ensure that your broker is registered with the appropriate regulatory authorities in the country you wish to trade in.
The Commodity Futures Trading Commission in the U.S. for example has total jurisdiction over all activities in the Forex and Futures markets, and the banks themselves are supposedly monitored by the Federal Reserve Bank.
Competition between brokers is robust and this is generally good for the consumer.
There are two types of Brokering on offer;
The Dealing Desk Type: When you place a currency trade, the apposing trade is taken by the broker, and he is acting as a 'marketmaker' in the trade, and therefore has accepted full risk for the financial outcome of the trade, he may offer you fixed spreads, but your loss is his gain, he is unlikely to be robot friendly.
Brokers ECN Type:direct access to the market is offered by the broker, the spreads are not fixed, the apposing trade is held by Mutual Funds, Hedge funds, Banks,etc These brokers earn a commission payment on the volume of trades they accept, more customers, more trades, more money for him. They are more likely to be robot friendly, but don't bet on it!
The lower spreads value favour the trader and reduce the profit margins of the broker, so to maintain profits they must increase the number of trades, some brokers also increase spreads to reduce the number of trades being made by Robots.
Many robots attempt to hide evidence of their trading activities, and especially their stoploss positions, from the brokers, BUT NOW a software system has just been launched that GUARANTEES that all your FOREX TRADING ACCOUNTS and STRATEGIES are TAMPER-PROOF.
The availability of trading tools is fairly standard on Metatrader platforms, but upmarket advanced charting software programmes are available for varying monthly fee schedules, you simply search for the best, least cost, user friendly programme that meets your needs, you can always upgrade at a later date if you so wish.
Often times it is a good idea to commence trading with a minimum of indicators and learn the special characteristics of each currency pair, "indicator overkill" is a common problem!
Forex trading is a high risk business, treat it with respect, it is advisable to "learn to walk before you make any attempts to run"!
It may pay to ask if the broker is compliant with the new N.F.A. "no hedging" rule no doubt many traders are looking for ways around this ruling.
As of August 1st 2009 the NFA's new FIFO ruling has taken away ALL US based brokers abilities to place essential orders that you MUST have as a trader if you are to succeed.
Their is now available an ingenious script that plugs seamlessly into Mt4, and this interface contains all your possible potential orders, but they are not visible to the brokers, as the information remains on your computer.
How clever is this piece of software? VERY CLEVER! a MASTERPIECE of disguise , Pending orders are invisible to the broker, the trading stop can be moved to breakeven after a
given profit has been reached, your trailing stop can be added after a certain profit has been reached , to protect profits, and you can straddle the trades , HEDGING is still possible!
Most brokerage houses offer leverage values between 100:1 and 400:1( too high for the novice trader), and be sure they offer these facilities on standard and mini accounts.
Accessibility to assistance from brokers is important the closer to home the better, money transfer fees and regulations, currency conversions, and calling from a different time zone can be frustrating, time consuming and expensive.
This is a relevant consideration as some large brokers may transfer accounts offshore to circumvent the new N.F.A. regulations.
currency trading broker
Welcome to currency trading broker (the \"Site\").
We understand that privacy online is important to users of our Site, especially when conducting business.
This statement governs our privacy policies with respect to those users of the Site (\"Visitors\") who visit without
transacting business and Visitors who register to transact business on the Site and make use of the various services offered by currency trading broker (collectively, \"Services\") (\"Authorized Customers\").
\"Personally Identifiable Information\"
refers to any information that identifies or can be used to identify, contact, or locate the person to whom such information pertains, including, but not limited to, name, address, phone number, fax number, email address, financial profiles, social security number, and credit card information. Personally Identifiable Information does not include information that is collected anonymously (that is, without identification of the individual user)
or demographic information not connected to an identified individual.
What Personally Identifiable Information is collected?
We may collect basic user profile information from all of our Visitors. We collect the following additional information from our Authorized Customers: the names, addresses, phone numbers and email addresses of Authorized Customers, the nature and size of the business, and the nature and size of the advertising inventory that the Authorized Customer intends to purchase or sell.
What organizations are collecting the information?
In addition to our direct collection of information, our third party service vendors (such as credit card companies, clearinghouses and banks) who may provide such services as credit, insurance, and escrow services may collect this information from our Visitors and Authorized Customers. We do not control how these third parties use such information, but we do ask them to disclose how they use personal information provided to them from Visitors and Authorized Customers. Some of these third parties may be intermediaries that act solely as links in the distribution chain, and do not store, retain, or use the information given to them.
How does the Site use Personally Identifiable Information?
We use Personally Identifiable Information to customize the Site, to make appropriate service offerings, and to fulfill buying and selling requests on the Site. We may email Visitors and Authorized Customers about research or purchase and selling opportunities on the Site or information related to the subject matter of the Site. We may also use Personally Identifiable Information to contact Visitors and Authorized Customers in response to specific inquiries, or to provide requested information.
With whom may the information may be shared?
Personally Identifiable Information about Authorized Customers may be shared with other Authorized Customers who wish to evaluate potential transactions with other Authorized Customers. We may share aggregated information about our Visitors, including the demographics of our Visitors and Authorized Customers, with our affiliated agencies and third party vendors. We also offer the opportunity to \"opt out\" of receiving information or being contacted by us or by any agency acting on our behalf.
How is Personally Identifiable Information stored?
Personally Identifiable Information collected by currency trading broker is securely stored and is not accessible to third parties or employees of currency trading broker except for use as indicated above.
What choices are available to Visitors regarding collection, use and distribution of the information?
Visitors and Authorized Customers may opt out of receiving unsolicited information from or being contacted by us and/or our vendors and affiliated agencies by responding to emails as instructed, or by contacting us at email@example.com
Are Cookies Used on the Site?
How does currency trading broker use login information?
currency trading broker uses login information, including, but not limited to, IP addresses, ISPs, and browser types, to analyze trends, administer the Site, track a user\'s movement and use, and gather broad demographic information.
What partners or service providers have access to Personally Identifiable Information from Visitors and/or Authorized Customers on the Site?
currency trading broker has entered into and will continue to enter into partnerships and other affiliations with a number of vendors.
Such vendors may have access to certain Personally Identifiable Information on a need to know basis for evaluating Authorized Customers for service eligibility.
Disclosure of Personally Identifiable Information to comply with law. We will disclose Personally Identifiable Information in order to comply with a court order or subpoena or a request from a law enforcement agency to release information. We will also disclose Personally Identifiable Information when reasonably necessary to protect the safety of our Visitors and Authorized Customers.
How does the Site keep Personally Identifiable Information secure?
All of our employees are familiar with our security policy and practices. The Personally Identifiable Information of our Visitors and Authorized Customers is only accessible to a limited number of qualified employees who are given a password in order to gain access to the information. We audit our security systems and processes on a regular basis. Sensitive information, such as credit card numbers or social security numbers, is protected by encryption protocols, in place to protect information sent over the Internet. While we take commercially reasonable measures to maintain a secure site, electronic communications and databases are subject to errors, tampering and break-ins, and we cannot guarantee or warrant that such events will not take place and we will not be liable to Visitors or Authorized Customers for any such occurrences.
How can Visitors correct any inaccuracies in Personally Identifiable Information?
Visitors and Authorized Customers may contact us to update Personally Identifiable Information about them or to correct any inaccuracies by emailing us at firstname.lastname@example.org
Can a Visitor delete or deactivate Personally Identifiable Information collected by the Site?
We provide Visitors and Authorized Customers with a mechanism to delete/deactivate Personally Identifiable Information from the Site\'s database by contacting email@example.com. However, because of backups and records of deletions, it may be impossible to delete a Visitor\'s entry without retaining some residual information. An individual who requests to have Personally Identifiable Information deactivated will have this information functionally deleted, and we will not sell, transfer, or use Personally Identifiable Information relating to that individual in any way moving forward.
This web site contains links to other web sites. Please note that when you click on one of these links, you are moving to another web site. We encourage you to read the privacy statements of these linked sites as their privacy policies may differ from ours.