Please Help

lucky_irish_man · Apr 13, 2006

I'm for the most part new to forex trading. I have signed up for a demo with FXCM 2 days ago and just signed up for another demo this afternoon at AaronFX.

Can someone please tell me in layman terms:
What a FX forward is?
What is gross margins?
What is a hybrid pip spread?
What are account minimums so much more for a Currenex platform?

This is what I'm reffering to:
http://www.aarontrade.com/html/forex_trading.html

Thanks for any potential help to my questions.

lucky_irish_man · Apr 13, 2006

Sorry for all the questions but forgot one that I wrote down.

When I was on the phone today with this firm today they mentioned something about:

"Multi Currency Clearing with JP Morgan Chase"

I think I wrote that down right. If not please excuse my mistakes.

Does anyone know what that means? I wanted to ask at the time but didn't want to seem like any idiot on the phone.

Thanks again for any help,
John

MTE · Apr 13, 2006

Quote from lucky_irish_man:

I'm for the most part new to forex trading. I have signed up for a demo with FXCM 2 days ago and just signed up for another demo this afternoon at AaronFX.

Can someone please tell me in layman terms:
What a FX forward is?
What is gross margins?
What is a hybrid pip spread?
What are account minimums so much more for a Currenex platform?

This is what I'm reffering to:
http://www.aarontrade.com/html/forex_trading.html

Thanks for any potential help to my questions.

FX forward is a contract to buy/sell a certain currency at a predetermined time in the future. Forwards are the same as futures.

Currenex is the "big boys" platform, that's why the minimums are higher.

Multicurrency clearing means that you can have a base currency other than USD.

Not sure about the rest.

lucky_irish_man · Apr 13, 2006

MTE thanks for the info.

I'm guessing FXall is in the same category as Currenex. While it was lower than Currenex it was still high, well as least for me anyway.

Considering my account size I surely don't need that many banks on one platform. However, that forex keyboard you can get with Currenex does sound "way cool".

After hunting around the net I found that gross margin is basically where all the postions are added together.

So for example, if I was trading Euro/Dollar and was selling options against that position their wouldn't be any additional margin unless I sold a boat load of them against the position.

Thanks again for you help!