Does anyone know any good online currency exchange trading platforms?
I looked at Xforex, and it seemed good, but I'm completely new to the online realm of these services and I don't know what the particular pros, cons and pitfalls are to watch out for with buying and selling currency online.
If anyone knows a good site (who doesn't also work for that company) to set up an account on, or has any tips to share, please let me know.
Thanks
You need to think about what you are trying to do. - Do you want access to actual foreign currency? Do you want to take your profits or losses in actual foreign currency? - Are you trying to get a lot of leverage? - Or are you just trying to hedge the value of the dollar against other currencies, without trying to get leverage? If so you might consider an exchange traded fund such as:
FXA (Australian Dollars)
FXE (Euros)
FXB (British Pounds)
FXY (Japanese Yen)
All of these funds pay interest (in U.S. Dollars) - and when you sell you get U.S. Dollars -but the price of a share is a generally about 100 times the value of one unit of the foreign currency. So if the Euro is at $1.40 to the U.S. dollar, you can expect FXE to be selling for about $140 per share. No doubt there are other risks of investing, so you should read the prospectus.
May 25th, 2009 at 9:18 pm
Dr. seems to me you are trying to lose your shirt. Can you practice before committing on these platforms? This seems like the realm of the big boys. Not individuals.
Outrider
you didn't even spell foreign correctly.
References :
May 25th, 2009 at 10:07 pm
You need to think about what you are trying to do. - Do you want access to actual foreign currency? Do you want to take your profits or losses in actual foreign currency? - Are you trying to get a lot of leverage? - Or are you just trying to hedge the value of the dollar against other currencies, without trying to get leverage? If so you might consider an exchange traded fund such as:
FXA (Australian Dollars)
FXE (Euros)
FXB (British Pounds)
FXY (Japanese Yen)
All of these funds pay interest (in U.S. Dollars) - and when you sell you get U.S. Dollars -but the price of a share is a generally about 100 times the value of one unit of the foreign currency. So if the Euro is at $1.40 to the U.S. dollar, you can expect FXE to be selling for about $140 per share. No doubt there are other risks of investing, so you should read the prospectus.
References :
May 25th, 2009 at 10:38 pm
This is probably the best platform you will find when it comes to Forex Trading. I started using this 2 weeks ago with no prior trading experience and have been VERY successful. It walks you step-by-step on how to use it and is practically fool proof. Good luck! The link is http://mx99wx99.fapturbo.hop.clickbank.net/
References :
http://mx99wx99.fapturbo.hop.clickbank.net/
May 25th, 2009 at 10:59 pm
Try fxcm.com for a platform and to learn more about forex market try babypips.com
References :
May 25th, 2009 at 11:22 pm
try to check your options in this site. being a newbie, you will find their "personal service" feature to your advantage. by opening any of their account- mini, gold, platinum or vip- they will provide you a personal Account Service manager or ASM to be your mentor and consultant. your ASM will walk you through the basics and will guide you and even trade with you on your request. contacts can be made live via phone, email or chat at your convenience. note that opening accounts higher than the mini will entitle you to even better trading privileges and features. all the best.
References :
http://www.optionforex.org