Which Forex Brokerage Firm?
- Thread starter sirinvestalot
- Start date
They "seem" like nothing more than another bucket shop in a jurisdiction where you would have no recourse.
Cyprus, Tortola? Backed by mega conglomorate but we won't name them? No commission but we rebate you if you do volume? 3 wide on the Euro and Yen?
There are much better alternatives than what you are pushing.
i think service is better
go for service...bigger profit
If the original idea is to MAKE MONEY from trading, I recommend trading currency futures rather than Forex.
When the CME exchange made currency futures electronically traded they became a better vehicle than forex because there is no artificially imposed bid-ask spread.
If you have ever watched live currency futures quotes alongside FX quotes (in the same market), the difference is stunning. In currency futures you will see rapid price fluctuations, usually with a 1-tick spread, and with bid-ask volume showing. The CME floor traders are watching the real interbank quotes and moving the market accordingly.
Meanwhile, the FX quote is delayed by several seconds, with only a fraction of the price changes - because the FX firm "dealing desk" is deciding whether or not to follow the true market price, from moment to moment.
It is explained on this page: invest33.com/forexfutures.html
By the way, this only applies to the major currency pairs, since active futures trade only occurs in the majors - Euro/Dollar, Dollar/Yen, Sterling/Dollar, Swiss, and Canadian.
When the CME exchange made currency futures electronically traded they became a better vehicle than forex because there is no artificially imposed bid-ask spread.
If you have ever watched live currency futures quotes alongside FX quotes (in the same market), the difference is stunning. In currency futures you will see rapid price fluctuations, usually with a 1-tick spread, and with bid-ask volume showing. The CME floor traders are watching the real interbank quotes and moving the market accordingly.
Meanwhile, the FX quote is delayed by several seconds, with only a fraction of the price changes - because the FX firm "dealing desk" is deciding whether or not to follow the true market price, from moment to moment.
It is explained on this page: invest33.com/forexfutures.html
By the way, this only applies to the major currency pairs, since active futures trade only occurs in the majors - Euro/Dollar, Dollar/Yen, Sterling/Dollar, Swiss, and Canadian.