tag:blogger.com,1999:blog-5909755431818113422024-03-13T04:53:36.232-07:00Theforexmandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.comBlogger25125tag:blogger.com,1999:blog-590975543181811342.post-16124642395634211562010-09-28T00:09:00.000-07:002010-09-29T01:11:11.894-07:00Archive for the 'Canadian Dollar' Category<div class="top_meta"></div><div class="entrytext"><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><a href="http://1.bp.blogspot.com/_fFW1BzLbf0A/TKGSGfQDiuI/AAAAAAAAAFY/mDkgVwri1JY/s1600/1y1.png" imageanchor="1" style="clear: right; cssfloat: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="180" px="true" src="http://1.bp.blogspot.com/_fFW1BzLbf0A/TKGSGfQDiuI/AAAAAAAAAFY/mDkgVwri1JY/s320/1y1.png" width="320" /></a>The Canadian Dollar was supposed to be one of the “hot” currencies of 2010. Given that it’s now exactly where it started the year, I think it’s safe to say that this isn’t the case. On the one hand, it would seem that the markets are still confused about how much the CAD should be worth, as Adam recently pointed out.An alternative interpretation is that investors believe the Loonie should trade near parity with the US Dollar; it has hovered just above that mark since breaching it in April.</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">The Canadian Dollar has benefited from strong fundamentals, especially compared to the US. Inflation is low and the economy is stable. "The International monetary fund(IMF) "recently said that Canada is likely to be the first of the seven major industrialized democracies to return to a budgetary surplus status by 2015.” 2010 GDP growth is projected at 3.3%, compared to around 2.5% in the US.</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><a href="http://3.bp.blogspot.com/_fFW1BzLbf0A/TKGSdokWOBI/AAAAAAAAAFc/-bpvUa8kP74/s1600/Canada-GDP-Growth-Rate-Chart-2006-2010.png" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="137" px="true" src="http://3.bp.blogspot.com/_fFW1BzLbf0A/TKGSdokWOBI/AAAAAAAAAFc/-bpvUa8kP74/s320/Canada-GDP-Growth-Rate-Chart-2006-2010.png" width="320" /></a></div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">For this reason, “Pacific Investment Management Co. founder Bill gross said he favors canada <a href="http://www.bloomberg.com/news/2010-08-12/canadian-dollar-touches-three-week-low-on-concern-global-economy-slowing.html"><span style="color: #003366;"> </span></a>he’s ‘in awe’ of countries such as Canada that have a low debt-to-gross-domestic- product ratio and solvent financial institutions. ‘North of the border’ has become a ‘preferable destination’ to what he sees in the U.S.” As a result, analysts have started to look beyond commodities, historically seen as the cornerstone of Canada’s economy. When the price of oil collapsed in May, the Loonie hardly budged. Given that Canada’s balance of trade is negative in spite of its commodity exports, maybe in focus is justified.</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><br />
</div></div><div class="separator" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; clear: both; text-align: center;"><a href="http://4.bp.blogspot.com/_fFW1BzLbf0A/TKGSyFNAxBI/AAAAAAAAAFg/MfmRzgyG33w/s1600/z1.png" imageanchor="1" style="clear: right; cssfloat: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="180" px="true" src="http://4.bp.blogspot.com/_fFW1BzLbf0A/TKGSyFNAxBI/AAAAAAAAAFg/MfmRzgyG33w/s320/z1.png" width="320" /></a>The Loonie is also benefiting from a positive interest rate differential with the US. Thanks to two consecutive rate hikes by the Bank of Canada (BOC) – which was the first G7 Central bank to tighten – Canada’s benchmark rate now exceeds the Federal Funds Rate by .5%. If the BOC fulfills expectations and hikes rates again at its meeting on September 8, this differential will widen further. In fact, it could continue expanding well into 2011, since the BOC is well ahead of the Fed in its monetary policy cycle. Here, again, the contrast with the US is self-evident: </div><div class="separator" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; clear: both; text-align: left;">“The Canadian central bank has been raising interest rates, and has signaled that it will continue to raise interest rates. And with the Fed’s decision today reaffirming its dovish position, the interest rate differential will continue to favor increasingly Canada, and higher interest rates in Canada wil continue to favor Canadian dollar strength.</div><div class="separator" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; clear: both; text-align: left;"> </div><div class="separator" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; clear: both; text-align: center;"><a href="http://4.bp.blogspot.com/_fFW1BzLbf0A/TKGTxj2WnoI/AAAAAAAAAFk/8k23HA0gXVY/s1600/vg.png" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;"></a></div>Throughout the rest of the summer, the Loonie will likely remain rangebound. Most traders are on vacation and trading volume is low. Besides, risk appetite is currently weak. When the markets return to full swing in September, I expect the Loonie will experience in a surge in volatility. In fact, investors are already starting to adjust their positions, with the most recent commitment of traders report showing an increase in Net Longs, bringing the total to $4.2 Billion.<br />
There is certainly a basis for predicting continued strength, but I think much depends on how commodity prices perform. As I pointed out above, the Loonie remains somewhat decoupled from commodities. That it nonetheless got a boost from strong wheat prices and the $40 Billion takeover bid for Potash Corp by mining giant BHP Biliton shows that investors still view Canada as a resource economy. If the global economy avoids a double-dip recession, commodities prices will probably recover and the Loonie will probably rise slowly towards parity. On the flip-side, the Loonie would be one of the big losers of a global slide back into recession.<br />
<div style="text-align: left;"><img border="0" height="196" px="true" src="http://4.bp.blogspot.com/_fFW1BzLbf0A/TKGTxj2WnoI/AAAAAAAAAFk/8k23HA0gXVY/s320/vg.png" width="320" /></div>mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-58304829039449031722010-09-27T23:52:00.000-07:002010-09-30T01:17:08.192-07:00Archive for the 'British Pound' Category<div class="top_meta"></div><div class="entrytext"><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><a href="http://3.bp.blogspot.com/_fFW1BzLbf0A/TKGP1ed_gKI/AAAAAAAAAFM/-PVeGphHZ-Q/s1600/British-Pound-Euro-SP-500-Correlation.png" imageanchor="1" style="clear: right; cssfloat: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="180" px="true" src="http://3.bp.blogspot.com/_fFW1BzLbf0A/TKGP1ed_gKI/AAAAAAAAAFM/-PVeGphHZ-Q/s320/British-Pound-Euro-SP-500-Correlation.png" width="320" /></a>The rally in the Pound, which lifted it 10% from trough to peak, appears to be fizzling. The Pound is already down 3% in the last two weeks, and is trending downward. It now stands at a four-week low against the Dollar.</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">Looking back at the Pound’s two-month rise, it’s not hard to understand why it was unsustainable. You can see from the charts below that there was a strong correlation with the Euro and the S&P 500 over the same period of time. This suggests that the Pound rally was less a product of changing fundamentals and more due to a sudden decrease in risk aversion.</div>By no coincidence the rally in equities, the Euro, and a handful of other proxy vehicles for risk, all came to and end at the same time as the Pound. In a nutshell, the markets are back to focusing on fundamentals. Namely, the risk of a double-dip recession, combined with a lack of resolution in the Eurozone debt crisis is causing investors to think twice about making bets that entail any kind of risk.<br />
In this regard, the Pound is especially vulnerable. On the economic front, the UK economy only grew by 1.1% in the second quarter, with economists predicting only modest growth for the year. According to an economist for the Bank of England, "It would be 'foolish' to rule out a renewed downturn.” Evidently, his bosses agree:"The bank of England last week said growth will be weaker than it forecast in May, citing “continuing fiscal consolidation and the persistence of tight credit conditions.”According to a recentpoll,almost half of British households are pessimistic about the country’s economic prospects in the near-term: “The proportion of pessimists is marginally lower than in July, but is higher than in any other month since March last year.”<br />
Ironically, the efforts of the British government to curb spending and cut the deficit are perceived as making matters worse. Since these measures won’t be offset by lowered taxes, they will directly lead to lower economic growth. Given that both the Pound and UK bond prices are rising (implying an increased risk of default), I think this reinforces the point I made last weekabout the markets not caring at all in this economic climate about increasing national debt.<br />
<div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><a href="http://2.bp.blogspot.com/_fFW1BzLbf0A/TKGQdbVLByI/AAAAAAAAAFQ/hkQenAk35RU/s1600/British-Pound-September-2011-Futures.jpg" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="155" px="true" src="http://2.bp.blogspot.com/_fFW1BzLbf0A/TKGQdbVLByI/AAAAAAAAAFQ/hkQenAk35RU/s320/British-Pound-September-2011-Futures.jpg" width="320" /></a>The icing on the cake is inflation. A British think-tank made headlines by predicting that the UK economy will emerge from recession next year, “But once recovery is under way, he thinks, then the Bank of England’s quantitative easing scheme, which pumped £200 billion into the economy in the wake of the credit crunch, will have terrible consequences.” Specifically, the think-tank is forecasting inflation of 10% and a </div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><br />
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For now, this remains a distant prospect, and analysts are focusing on the fact that the economy will probably re-enter recession before it can officially exit from it. As for the Pound, forecasts are not optimistic: “Bears in a Bloomberg survey of strategists outnumber bulls 29 to 12, while TD Securities in Toronto, the most-accurate forecaster in the six quarters ended June 30, has the lowest estimate, predicting sterling will depreciate 15 percent versus the dollar by year-end.” According to the most recent commitments of traders report, institutional investors were still net long the Pound as of August 10.Futures prices, meanwhile, have moved in lockstep with spot prices, which suggests that futures traders are still waiting for more data before they weigh in on the Pound.</div>Personally, I’m having a tough time coming up with a prediction. I tend to agree with the characterization of “the foreign exchange markets post-crisis as a beauty parade with ugly contestants." In other words, all of the major currencies are currently plagued by poor fundamentals. It’s hard to say that the Pound is in better or worse shape than the Dollar or the Euro. Still, given the way that markets have been trading, a return to (global) recession would not be kind to the Pound.<br />
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</div></div>mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-65301442089535187782010-09-27T02:16:00.000-07:002010-10-04T23:51:42.903-07:00Archive for the 'Australian Dollar' Category<div class="top_meta"></div><div class="entrytext"><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><a href="http://2.bp.blogspot.com/_fFW1BzLbf0A/TKBfwOvKKgI/AAAAAAAAAFE/8gmjrLrBM60/s1600/z.png" imageanchor="1" style="clear: right; cssfloat: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="180" px="true" src="http://2.bp.blogspot.com/_fFW1BzLbf0A/TKBfwOvKKgI/AAAAAAAAAFE/8gmjrLrBM60/s320/z.png" width="320" /></a>If you chart the course of the Australian Dollar over the last twelve months alongside the S&P 500, the overlap is jarring. You can see from the chart below that the two lines zig and zag in almost perfect unison. It would seem that there was a slight break in the second quarter of 2010, but even this is an illusion, since the Aussie and the S&P continued to rise and fall in the same patterns over that time period, differing only in degree of fluctuation.</div>Since the S&P 500 is a pretty good proxy for risk it can be said that the Australian Dollar is a manifestation of investor risk appetite. When risk aversion was high, the S&P and the Aussie were low. When risk tolerance picked up, they rose. It’s funny how this came to be. It is probably best seen as a vestige from the credit crisis, whereby investors evenly divided assets into two classes: risky and safe. When you look at the performance of the Australian Dollar, it is pretty clear as to which side of the dividing line it was placed.<br />
This is probably fair, since the Australian Dollar is a growth currency. According to the just-released Bank of International Settlements (BIS)triennial central bank survey of foreige exchange and derivatives market activity, the Australian Dollar is now the world’s fifth most traded currency (behind only the G4: Dollar, Euro, Yen, & Pound), having usurped that position from the Swiss Franc. In 2010, it accounted for 7.6% (out of a total of 200%) of all trading volume, primarily as a result of trading in the USD/AUD currency pair, which was the fourth most popular in forex.<br />
<div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">Investors have come to see the Australian Dollar in somewhat contradictory terms. It is both stable and liquid, but its economy is unpredictable and inflation is usually above average. The current economic situation was strong, with GDP growth projected to exceed 3% in 2010. Its benchmark interest rate (4.5%) is the highest in the industrialized world, and may touch 5% before the year is over. On the other hand, its political situation is currently uncertain, thanks to an election that produced a hung parliament and the recent resignation of its Prime Minster. In addition, while its trade balance is currently in surplus, it fell in July thanks to decreased demand from chine. Analysts wonder whether it isn’t entirely dependent on China (directly via exports and indirectly via high commodity prices) to generate positive GDP growth.</div></div><div class="separator" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; clear: both; text-align: center;"><a href="http://4.bp.blogspot.com/_fFW1BzLbf0A/TKBgJXy1GII/AAAAAAAAAFI/MYgUrHnHWZU/s1600/Australia-Balance-of-Trade-2009-July-2010.png" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="94" px="true" src="http://4.bp.blogspot.com/_fFW1BzLbf0A/TKBgJXy1GII/AAAAAAAAAFI/MYgUrHnHWZU/s320/Australia-Balance-of-Trade-2009-July-2010.png" width="320" /></a></div><div class="separator" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; clear: both; text-align: center;">Ultimately, investors don’t care about any of this. They care only whether the global economy is stable and whether another financial/credit/economic crisis is likely to occur. Even though any such crisis will probably spare Australia, the Aussie is punished by even the whiff of crisis because Australia is perceived as being riskier to invest than the US, for example. “The Australian dollar is going to stay heavy. Markets don’t like uncertainty,” summarized jp morgan.</div>Sadly, it’s currently not worth parsing the nuances of trade statistics and monetary policy, because it has no bearing on the Aussie, though at least this makes my job easier. For the time being, the Australian Dollar will tick up if it looks like the global economy (principally the US) will avoid a double-dip recession. Otherwise, it is in for the same rough stretch as the S&P.<br />
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</script>mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-80566077334494924042010-09-27T02:03:00.000-07:002010-09-27T02:03:39.212-07:00Zecco Forex<span style="font-size: large;">About Zecco Forex</span><br />
<img align="right" alt="Zecco." src="http://www.forexblog.org/images/reviews/zecco.gif" /> Since its launch in October, 2006, more than 160,000 customers have traded online with Zecco Holdings. Founded by a former Vice President from Merrill Lynch and a wholesale derivatives broker, Zecco’s financial investors also include LundKenner Venture, a Danish venture capital firm, and Velocity Capital B.V., which is Zecco’s largest investor. <a href="http://www.zecco.com/"><span style="color: #003366;">Zecco</span></a> has two locations in California: a bay-area headquarters location in Burlingame and a Southern California-based operations and call center location in Pasadena.<br />
Zecco’s main business operations include:<br />
<ul><li>Zecco Forex, launched in the spring of 2009, which allows for spot trading of foreign exchange currency, gold, and silver; </li>
<li>Zecoo Trading, which allows customers to trade stocks, bonds, options, and mutual funds; and </li>
<li>ZeccoShare, where Zecco’s customers can share their investing ideas. </li>
</ul><span style="font-size: large;">Key Registrations</span><br />
Zecco Forex is regulated by the National Futures Association (NFA). GAIN Capital is a registered Futures Commission Merchant (FCM) and is also a member of the National Futures Association (NFA #0339826).<br />
<span style="font-size: large;">Contact Information At A Glance</span><br />
<ul><li>To open an account: <span class="hilite"><span style="background-color: #d3e18a;"><a href="http://www.zecco.com/forex/trade-open-account.html">http://www</a> </span></span>.zecco.com/forex/trade-open-account.html</li>
<li>To open a demo account: <span class="hilite"><span style="background-color: #d3e18a;"><a href="http://www.zecco.com/forex/start.html">http://www</a> </span></span>.zecco.com/forex/start.html</li>
</ul><span style="font-size: large;">Customer service:</span><br />
<ul><li>U.S. telephone 1-866-567-0295, International telephone +1-626-529-7078, or email <a href="mailto:customerservice@zeccoforex.com">customerservice@zeccoforex.com</a> </li>
<li>Media contact (United States): Seth Linden, telephone 1-212-704-7385, Ext.3533 or email <a href="mailto:seth@dukaspr.com">seth@dukaspr.com</a> </li>
<li>Media contact (Europe): telephone Eva van Pelt 31-76-565-5511 or email <a href="mailto:eva@gr8industries.com">eva@gr8industries.com</a></li>
<li>Online support and live chat option: <a href="https://www.zecco.com/aboutUs/ContactUs.aspx?tab=trading">https://www.zecco.com/aboutUs/ContactUs.aspx?tab=trading</a> </li>
</ul><span style="font-size: large;">Vital Trading Information About Zecco Forex</span><br />
Zecco’s customers enjoy ten free stock trades each month if they maintain a $25,000 account balance or execute at least 25 trades each month. For other paid stock trades, Zecco’s price is $4.50 per trade. Options commissions are $4.50 plus $0.50 per contract.<br />
<span style="font-size: large;">Account Set-Up</span><br />
The average processing time to open a new account is 24 hours or less. Applications can be quickly submitted via Zecco’s website, with telephone support and live chat available in case the customer has any questions or concerns.<br />
<h3>Dealing Desk</h3>Zecco Forex acts in the capacity of an introducing broker to GAIN Capital Group, who maintains a customer’s account for the purpose of stock trading. GAIN Capital serves as the clearing agent and counterparty to a customer’s trades. GAIN Capital’s market making desk is staffed 24 hours per day during trading hours by experienced former bank traders who are experienced in managing high volume trading operations.<br />
<h3>Demo Accounts</h3>Zecco Forex offers a popular demo account option to its customers; this free $50,000 trading practice account allows customers to access a practice version of Zecco’s forex trading platform. Demo customers can trade $50,000 in virtual funds on a risk-free basis; support is available via telephone and through live chat. Customers using a Zecco demo account have access to real-time quotes in 37 different currency pairs, and leverage is available up to a 100:1 ratio.<br />
<h3>Leverage Limits</h3>Leverage is available for customers up to a 100 to 1 ratio. Zecco Forex limits customer’s risk to their funds on deposit. As there are no margin calls in forex trading, if a customer’s account falls under the required levels, all of their positions will be automatically closed.<br />
<h3>Minimum Deposit Amounts</h3>Customers can open an account with Zecco Forex with a minimum deposit of $250; this is sufficient to open what is known as a mini trading account. This mini trading account option is a great way for forex traders to test out the waters at Zecco Forex. Standard accounts require a minimum opening balance of $2,500. Additional funds can be added at any time.<br />
<h3>Promotions</h3>Zecco Forex occasionally makes online promotion codes available to encourage new customers to register an account. In one of their recent promotions, Zecco Forex offered a cash bonus of up to $200 for customers who opened and funded a new forex account with Zecco and executed at least one trade.<br />
<span style="font-size: large;">Trading Spreads</span><br />
Trading spreads with Zecco Forex are as low as 1-2 pips for most of the major currency pairs. Zecco Forex charges no commissions for foreign exchange trades; customers pay only the bid/ask spread amount.<br />
<h3>Trailing Stops</h3>Customers are able to enter trailing stops for their accounts with Zecco, as well as take profits and stop losses on any trades.<br />
<span style="font-size: large;">ZeccoShare Online Community</span><br />
ZeccoShare is an innovative investing community where investors and customers can share, debate, and test their trading ideas online. Currently in Beta mode, ZeccoShare limits the information shared by its members to display only to other registered ZeccoShare members. Zecco employees may also display information and post on ZeccoShare; their membership information is marked with a special ‘Zecco Associate’ medal so it is obvious that they are employees of Zecco.com.<br />
<span style="font-size: large;">The Bottom Line</span><br />
While Zecco Forex is one of the newer players on the forex block, reviews so far indicate that customers are pleased with Zecco’s demo account option, top-notch customer service, and affiliated brokerage services. Zecco has received positive feedback from customers for the wealth of educational materials that they provide and their live streaming charts, as well as real-time data for 37 currency pairs. In addition, some customers note that the ability to consolidate their forex and stock trading into one-stop shopping with the same broker is both convenient and efficient.<br />
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</script>mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-86353477255409950542010-09-27T01:52:00.000-07:002010-09-27T01:52:55.539-07:00XForex<img align="right" alt="Xforex." src="http://www.forexblog.org/images/reviews/xforex.gif" /> XForex, also known as Ultimass Global, Inc. offers an easy-to-use entry point for newcomers to the Forex market, while providing experienced traders with the full range of basic Forex transactions and extensive personalized services to help investors get the most from their money. While <a href="http://www.xforex.com/"><span style="color: #003366;">XForex</span></a> may be a little basic for advanced traders, it offers a unique package of educational and support services for newer investors, including a personal account manager and a comprehensive range of daily financial reports.<br />
<span style="font-size: large;">About XForex</span><br />
XForex is a web-based Forex trading platform that offers unique advantages to traders in the gold, silver, and currency markets. Founded in Cyprus in 2003 as Trouvia Investments, the company expanded its operations into Canada and today offers services to its clients during all regular market hours. The website was re-launched in August of 2009, and offers many more services than it did previously; these services include video tutorials and a new demo account feature. Since the Forex market is open 24 hours a day for five and a half days per week, XForex is available during the same time period for trades and to assist its customers. XForex offers real-time market updates to its clients, ensuring that they obtain the most current information available at all times. Because XForex is a dealing desk broker, it covers the opposing side of all client trades.<br />
<span style="font-size: large;">Regulatory Oversight</span><br />
XForex is governed by European Union regulations; this requires that it abide by the laws of each country in which it does business. It is funded by Deutsche Bank, Saxo Bank, and the Canadian Imperial Bank of Commerce.<br />
<span style="font-size: large;">Contact Information at a Glance</span><br />
A full list of telephone numbers for countries served by XForex is available at <span class="hilite"><span style="background-color: #d3e18a;">http://www</span></span>.xforex.com/about-us/contact-us. <br />
Their support email is support@xforex.com, and XForex can be reached by mail at:<br />
Ultimass Global Holding Inc.<br />
P.O. Box 71<br />
Road Town<br />
Tortola<br />
British Virgin Islands<br />
<span style="font-size: large;">Vital Trading Information About XForex</span><br />
XForex is web-based and works with all major browsers, including Firefox and Internet Explorer. It requires no downloading or installation and can be used anywhere with an internet connection; this ensures the highest level of accessibility and convenience for XForex customers. The XForex platform is optimized to work well on most mobile applications as well. The interface itself is easy to use and provides an online guide to help new users acclimate themselves to the various commands and functions of the platform. Traders new to Forex transactions will also appreciate the short market tutorial designed to help them understand the various aspects of Forex trading.<br />
<span style="font-size: large;">Commissions</span><br />
XForex does not charge commissions to its clients on trades, deposits or withdrawals; it derives its income from the difference between the bids and asks prices. This is a significant advantage for beginning Forex traders, who can more quickly achieve their financial goals without the burden of additional charges. Despite the lack of commission fees, XForex provides a full range of client services including personalized investment advice and multi-lingual online support; since XForex caters to the international investing community, its support staff offers assistance in English, Spanish, French, Turkish, Portuguese, Russian, and Arabic.<br />
<span style="font-size: large;">Minimum Deposits</span><br />
XForex offers three levels of Forex accounts for their customers. The Mini requires a minimum deposit of $100 and offers a 10% bonus for the first deposit. Standard accounts require a $1000 minimum deposit and provide a 30% bonus on the initial deposit, while V.I.P. accounts can be customized to meet advanced trading needs and require a $10,000 minimum deposit, with a 30% bonus added to the first deposit. XForex<br />
<span style="font-size: large;"><span style="font-size: x-small;">accepts bank transfers and a number of major credit cards for</span> </span><span style="font-size: x-small;">deposits.</span><br />
<span style="font-size: large;">Leverage</span><br />
XForex offers its clients up to 200:1 leverage, allowing them to take a much larger position in the Forex market. While this allows experienced traders to take advantage of opportunities as they arise, it can also lead to much greater losses. XForex offers safeguards that ensure that investors cannot lose more than they have invested with the company; this limits leveraged positions for low-end investors, but provides a security net in the case of significant loss on an investment.<br />
<span style="font-size: large;">Demo Account</span><br />
Prospective customers can practice their trading skills with a user-friendly demo account. It offers all the same options as regular XForex accounts, and gives new clients a risk-free arena in which to hone their trading acumen before putting actual money on the line. Demo accounts function exactly as the regular accounts with the same minimums and bonuses applied to give new traders a real taste of Forex trading without the real risk.<br />
<span style="font-size: large;">Trading Functions</span><br />
The XForex platform offers most of the trading options Forex investors expect, including 21 currency pairs and gold and silver trading. Trading functions include stop loss orders, trailing stops, take profit orders, market, and limit; XForex trading spreads are fixed and typically range between 3 and 30 pips. XForex does not allow hedged trading where buys are offset by simultaneous sells in the same currency. The XForex platform does not allow the use of Forex Robot or Meta Trader through its website. One unique feature of the XForex platform is the ability to track the current activities of the top ten traders; this can prove invaluable for inexperienced traders, who can learn from observing the experts in action.<br />
<span style="font-size: large;">Market Information</span><br />
XForex offers its clients real time capital market information, along with daily market updates, charts, financial calendars, and other commentaries and reviews designed to help the beginning Forex trader and the experienced professional in the Forex market. In-depth Forex analysis helps traders identify trends and get in front of the market, helping them to achieve profitability in this highly volatile financial marketplace. The Overnight Express bulletins focus on bullet-point summaries of the Asian, North American and European markets, keeping XForex clients apprised of all developments in the Forex markets. Because XForex is strategically partnered with Reuters, clients are assured of the most current market information possible.<br />
<span style="font-size: large;">Security of Information</span><br />
Data security is of the utmost importance to Forex traders, and XForex adheres to the highest industry encryption standards for online security, using SSL-secured servers and ensuring that client information remains confidential. Financial information is closely guarded and deleted once it is no longer relevant.<br />
<span style="font-size: large;">The Bottom Line</span><br />
Most beginning traders will find XForex an excellent resource for learning the ropes of Forex trading. Most investors will appreciate the easy-to-use interface and the portability of the system; for advanced traders, however, the limited options for trade may make this less appealing than other Forex platforms on the market.<br />
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</script>mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-52853318311417949112010-09-27T01:44:00.000-07:002010-09-27T01:44:57.102-07:00Oanda FXTrade<img align="right" alt="Oanda FXtrade." src="http://www.forexblog.org/images/reviews/oanda-fxtrade.gif" /> With the precision and accuracy offered by today’s computing systems and real-time market reporting systems, it’s interesting to note that many forex trading companies still rely on dealing desks and other manual intervention to execute trades and perform other trading activities, often resulting in delays that can cause a variation of spreads or other anomalies that stray from real-time data. OANDA is a company that seeks to move away from those difficulties by offering a fully automated trading environment, featuring real-time spreads as well as near-instant executions and continuous interest payouts. <a href="http://www.oanda.com/"><span style="color: #003366;">OANDA</span></a> has continually introduced new innovations to the forex arena, and continues to strive to remain at the cutting edge of forex trading technology.<br />
<span style="font-size: large;">About OANDA</span><br />
OANDA was co-founded in the mid-1990s by Dr. Michael Stumm, professor of Computer Engineering at the University of Toronto computer engineering professor Dr. Michael Stumm, and Dr. Richard Olsen of The Olsen Ltd., a leading econometric research and development firm. In 2001, OANDA launched its trading platform, FXTrade, which was one of the first fully automated online currency trading platforms then available.<br />
<br />
OANDA reports it handles more than a million queries each day, and estimates that more than 20 percent of the world’s online spot forex transactions occur through its servers. As an account service provider (ASP) company, OANDA serves more than 75,000 ASP clients globally.<br />
<br />
The OANDA corporate team includes a four-member board of directors and a seven-member management team.<br />
<span style="font-size: large;">Key Registrations</span><br />
Incorporated in the State of Delaware, OANDA is registered as a Futures Commission Merchant (FCM) with the U.S. Commodity Futures Trading Commission (CFTC), and is a member of the National Futures Association (NFA ID #0325821).<br />
<br />
Funds are held at top-tier banks, such as J.P. Morgan Chase, Royal Bank of Scotland, Deutsche Bank, and the Royal Bank of Canada, and are withdrawn only as the result of customer request during trading and account activity.<br />
<span style="font-size: large;">Contact Information At A Glance</span><br />
<span style="font-size: small;">In addition to its online solution database, OANDA offers the following contacts for support and account issues:<br />
<ul><li>Chat (link in middle of page under “live help”: <span class="hilite"><span style="background-color: #d3e18a;"><a href="http://www.oanda.com/corp/contact/">http://www</a> </span></span>.oanda.com/corp/contact/</li>
<li>Email: <a href="mailto:info@oanda.com">info@oanda.com</a> </li>
<li>Phone: +1.212.858.7690 (U.S.) +1.416.593.9436 (Canada) +65-6227-3808 (Asia) +971 (0)4 325 8320 (Middle East)</li>
<li>Fax: +1.212.208.4356 </li>
<li>Trading desk email: <a href="mailto:frontdesk@oanda.com">frontdesk@oanda.com</a> </li>
<li>Sales team online contact form: <span class="hilite"><span style="background-color: #d3e18a;"><a href="http://www.oanda.com/site/contact/sales">http://www</a> </span></span>.oanda.com/site/contact/sales</li>
</ul>OANDA’s customer service representatives are available 24 hours a day from Sunday at 4 p.m. EST to Friday at 4 p.m. EST through chat or telephone.<br />
<span style="font-size: large;">Vital Trading Information About OANDA</span><br />
OANDA uses a proprietary 100 percent automated trading system, affording real-time executable and transparent pricing, instant settlement and deal confirmation, and continuous interest payments. There is no dealer intervention. Trading activities are performed via OANDA’s trading platform, FXTrade. For a tour and demonstration of the platform and its performance and use during trading activities, OANDA offers video-based tutorials: <a href="http://fxtrade.oanda.com/forex_trading/fxtrade/take_a_tour/">http://fxtrade.oanda.com/forex_trading/fxtrade/take_a_tour/</a><br />
<span style="font-size: large;">Minimum Deposit Amounts</span><br />
OANDA does not have a minimum deposit requirement, and allows trades in any size without lot size requirements.<br />
<span style="font-size: large;">Account Set-Up</span><br />
Account set-up takes about 10 minutes or less and can be initiated via an online form located here: https://fxtrade.oanda.com/your_account/fxtrade/register/individual/beforeyoubegin<br />
During online registration, users will need to provide data including account currency type and personal and financial information, as well as answering regulatory compliance questions. Once the online form has been submitted, users will be asked to forward scans of government-issued identification and proof of residence to OANDA’s offices for account confirmation. As soon as the account is confirmed, login information will be provided and you will be asked to wire funds to open your account.<br />
<span style="font-size: large;">Demo Accounts</span><br />
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</tbody></table></div></div><div id="beta"><div class="pkg" id="beta-inner"><div class="post" id="post-2353"><h3 class="entry-header">Oanda FXTrade</h3><div class="entrytext"><img align="right" alt="Oanda FXtrade." src="http://www.forexblog.org/images/reviews/oanda-fxtrade.gif" /> With the precision and accuracy offered by today’s computing systems and real-time market reporting systems, it’s interesting to note that many forex trading companies still rely on dealing desks and other manual intervention to execute trades and perform other trading activities, often resulting in delays that can cause a variation of spreads or other anomalies that stray from real-time data. OANDA is a company that seeks to move away from those difficulties by offering a fully automated trading environment, featuring real-time spreads as well as near-instant executions and continuous interest payouts. <a href="http://www.oanda.com/"><span style="color: #003366;">OANDA</span></a> has continually introduced new innovations to the forex arena, and continues to strive to remain at the cutting edge of forex trading technology.<br />
<h2>About OANDA</h2>OANDA was co-founded in the mid-1990s by Dr. Michael Stumm, professor of Computer Engineering at the University of Toronto computer engineering professor Dr. Michael Stumm, and Dr. Richard Olsen of The Olsen Ltd., a leading econometric research and development firm. In 2001, OANDA launched its trading platform, FXTrade, which was one of the first fully automated online currency trading platforms then available.<br />
OANDA reports it handles more than a million queries each day, and estimates that more than 20 percent of the world’s online spot forex transactions occur through its servers. As an account service provider (ASP) company, OANDA serves more than 75,000 ASP clients globally.<br />
The OANDA corporate team includes a four-member board of directors and a seven-member management team.<br />
<h3>Key Registrations</h3>Incorporated in the State of Delaware, OANDA is registered as a Futures Commission Merchant (FCM) with the U.S. Commodity Futures Trading Commission (CFTC), and is a member of the National Futures Association (NFA ID #0325821).<br />
Funds are held at top-tier banks, such as J.P. Morgan Chase, Royal Bank of Scotland, Deutsche Bank, and the Royal Bank of Canada, and are withdrawn only as the result of customer request during trading and account activity.<br />
<h3>Contact Information At A Glance</h3>In addition to its online solution database, OANDA offers the following contacts for support and account issues:<br />
<ul><li>Chat (link in middle of page under “live help”: <span class="hilite"><span style="background-color: #d3e18a;">http://www</span></span>.oanda.com/corp/contact/ </li>
<li>Email: info@oanda.com </li>
<li>Phone: +1.212.858.7690 (U.S.) +1.416.593.9436 (Canada) +65-6227-3808 (Asia) +971 (0)4 325 8320 (Middle East) </li>
<li>Fax: +1.212.208.4356 </li>
<li>Trading desk email: frontdesk@oanda.com </li>
<li>Sales team online contact form: <span class="hilite"><span style="background-color: #d3e18a;">http://www</span></span>.oanda.com/site/contact/sales </li>
</ul>OANDA’s customer service representatives are available 24 hours a day from Sunday at 4 p.m. EST to Friday at 4 p.m. EST through chat or telephone.<br />
<h2>Vital Trading Information About OANDA</h2>OANDA uses a proprietary 100 percent automated trading system, affording real-time executable and transparent pricing, instant settlement and deal confirmation, and continuous interest payments. There is no dealer intervention. Trading activities are performed via OANDA’s trading platform, FXTrade. For a tour and demonstration of the platform and its performance and use during trading activities, OANDA offers video-based tutorials: http://fxtrade.oanda.com/forex_trading/fxtrade/take_a_tour/<br />
<h3>Minimum Deposit Amounts</h3>OANDA does not have a minimum deposit requirement, and allows trades in any size without lot size requirements.<br />
<h3>Account Set-Up</h3>Account set-up takes about 10 minutes or less and can be initiated via an online form located here: https://fxtrade.oanda.com/your_account/fxtrade/register/individual/beforeyoubegin<br />
During online registration, users will need to provide data including account currency type and personal and financial information, as well as answering regulatory compliance questions. Once the online form has been submitted, users will be asked to forward scans of government-issued identification and proof of residence to OANDA’s offices for account confirmation. As soon as the account is confirmed, login information will be provided and you will be asked to wire funds to open your account.<br />
<h3>Demo Accounts</h3>OANDA calls its demo account FXGame, and offers it to all potential traders free of cost, with no time limits or expiration dates. Users interact with the same features as are available with active accounts, including the same user interface features. The game allows users to trade under real market conditions using live, “actual market” prices and spreads, to fully synthesize the trading experience and give both novice and experienced traders a feel for the features offered by the actual OANDA trading platform, and an opportunity to safely try out new strategies before implementing them with real cash. FXGame also allows users to access news, analytical tools, charts and other tools and data available to users of the actual trading platform.<br />
<span style="font-size: large;">Dealing Desk</span><br />
OANDA does not employ a dealing desk.<br />
<span style="font-size: large;">Trading Spreads</span><br />
OANDA’s FXTrade platform offers all traders the same spread, regardless of the size of the account or trade, or the type of customer (individual, institutional, etc.).<br />
OANDA spreads are based on real-time market values and events and are widened during non-trading hours, such as weekends and certain holidays, as well as during periods of high volatility, such as during news release events. A table of real-time spread values is located here: http://fxtrade.oanda.com/forex_trading/why_trade_with_oanda/spreads/<br />
Minimum margins vary from 2 percent to 4 percent, based on the pairs of currency being traded.<br />
<span style="font-size: large;">Trailing Stops</span><br />
Trailing stops are fully supported by the OANDA trading platform, and are defined during account set-up in the user preference options. Trailing stops can be set with a lower limit of 10 pips and an upper limit of 1,000 pips.<br />
<span style="font-size: large;">Bottom Line</span><br />
Offering fully automated, real-time currency trading with no restrictions on account or trade size, OANDA has quickly risen to become a favorite among both large-scale and small-scale traders, including individual forex traders. Its state-of-the-art platform and continual search for new technological applications to make trading easier and more transparent keep it among the top account providers for online interactive forex trading.<br />
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</script></div></div></div></div></span>mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-52108505023717489582010-09-27T01:34:00.000-07:002010-09-27T01:34:44.876-07:00Interactive Brokers<span style="font-size: large;">About Interactive Brokers</span><br />
<img align="right" alt="Interactive Brokers." src="http://www.forexblog.org/images/reviews/interactive-brokers.gif" /> The company’s initial operations started in 1977 by Thomas Peterffy, a former computer programmer who purchased a seat on the American Stock Exchange and founded T.P. & Co. in 1978. Since then, the company has engaged in various stock, futures and bonds exchanges worldwide. <a href="http://www.interactivebrokers.com/"><span style="color: #003366;">Interactive Brokers</span></a> went public on the Nasdaq stock exchange in 2007, nearly 30 years after Peterffy began his brokerage firm. The company’s ticker symbol is “IBKR”.<br />
<span style="font-size: large;">Contact Information at a Glance:</span><br />
<ul><li>Phone Number: 877-442-2757 (US Toll-free) </li>
<li>E-mail Support: <a href="mailto:newaccounts@interactivebrokers.com">newaccounts@interactivebrokers.com</a> </li>
<li>Online Support/Live Chat: Available to existing customers via Account Management </li>
</ul><span style="font-size: large;">Account Funding Information</span><br />
Interactive Brokers has several options for both depositing and withdrawing account funds. These options currently include:<br />
<ul><li>Wire Transfer </li>
<li>Checks denominated in U.S. funds </li>
<li>Online Bill Payment Check </li>
<li>U.S. Automated Clearing House </li>
</ul>These methods take at least 4 business days to arrive in your account. With some deposit methods, you cannot withdraw your funds for 3 business days after a deposit. Note that Interactive Brokers does not accept credit cards for depositing funds.<br />
<span style="font-size: large;">Minimum Deposit Amounts</span><br />
The minimum deposit amount for a live account at Interactive Brokers varies, depending on who opens an account. Individuals that are 21 years of age or younger can open an account, provided that they can meet a $3,000 minimum deposit. Advisor and broker clients are required to deposit a minimum of $5,000, while all other individuals are required to deposit at least $10,000. Those who wish to trade a margin account must deposit at least $2,000.<br />
These minimum deposit mounts are steep compared to other online brokers. Beginners who want to start trading online but don’t want to deposit a lot of money into their account may be better served elsewhere. It should also be noted that accounts that show no balance for 45 days or more are usually closed, requiring a minimum deposit of $10,000 to reopen.<br />
<span style="font-size: large;">Demo and Live Account Software</span><br />
Interactive Brokers uses the Trader Workstation (TWS) platform in order to facilitate trading. This platform is a Java-based application with an open application programming interface (API). This means that third party applications can be combined with TWS in order to improve the platform’s overall functionality and speed. You can also use the TWS platform to trade in multiple financial markets, while taking advantage of Interactive Brokers’ fast data feed. New traders may be intimidated at first by TWS, since it does not come with step by step instructions like some other trading platforms, but it is relatively easy to get the hang of.<br />
<br />
For those who wish to trade on the go, the MobileTrader platform is available for smartphones and PDAs. There is also another platform based on TWS designed for developers and papertraders. The PaperTrader platform can not only be used to experiment with trading at no cost within a virtual marketplace, but developers can also use this platform to test third-party applications designed for TWS. A free demo of the TWS platform is available to those who want to test drive it before opening an account.<br />
<span style="font-size: large;">Commissions and Leverage Limits</span><br />
Trades involving stocks, ETFs and warrants only cost $0.01 per share, with a $1.00 minimum per order. Trades involving options are priced according to monthly contract tiers. “Smart Routed” orders below 10,000 monthly contracts cost $0.70 per contract, with the cost per contract reduced as the number of monthly contracts rises. A minimum of $1.00 per order is required. Direct Routed orders cost $1.75 per contract, with a $1.75 minimum per order. Interactive Brokers also offers trailing stop orders, with a detailed explanation of how these orders work and the benefit they offer to brokers.<br />
<span style="font-size: large;">Website Navigation and Account Setup</span><br />
Navigating the website is relatively easy, and the website itself features vast amounts of important information located within reach of the browser. The website also has an options trading desk available for those who require the assistance of experienced brokers, especially when it comes to large or complex trading orders. Customer service via email, telephone and live chat is readily available, although it lacks the 24 hour, 7 days a week service that other online brokers offer.<br />
<br />
Applications are available for individuals and those who wish to act as an advisor for friends and family. The application process is performed online, but paper documents may be required in some cases. Fully completed applications are normally reviewed within 48 hours of completion. The minimum age to open a cash account is 18 years of age, while those who wish to open a margin account must be 21 years of age or older.<br />
<span style="font-size: large;">Bottom Line</span><br />
Interactive Brokers affords full access to a variety of exchanges, allowing traders to engage in several markets using one single trading platform. However, the entire process may be daunting to beginners and the minimum deposit requirements may keep those who are limited in resources away from this particular brokerage.<br />
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</script><a class="st-taf" href="http://tellafriend.socialtwist.com/" onclick="return false;" style="border-bottom-width: 0px; border-left-width: 0px; border-right-width: 0px; border-top-width: 0px; margin: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;"><img alt="SocialTwist Tell-a-Friend" hasfocus="false" onclick="cw(this, {id:'2009021910542', link: 'http%3A%2F%2Fwww.forexblog.org%2Finteractive-brokers', title: 'Interactive+Brokers' });" onmouseout="hideHoverMap(this)" onmouseover="showHoverMap(this, '2009021910542', 'http%3A%2F%2Fwww.forexblog.org%2Finteractive-brokers', 'Interactive+Brokers')" src="http://images.socialtwist.com/2009021910542/button.png" style="border-bottom-width: 0px; border-left-width: 0px; border-right-width: 0px; border-top-width: 0px; margin: 0px; padding-bottom: 0px; padding-left: 0px; padding-right: 0px; padding-top: 0px;" /></a>mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-54291838708709971202010-09-27T01:26:00.000-07:002010-09-27T01:26:59.790-07:00GFX Group / Forex.ch<img align="right" alt="Forex.ch." src="http://www.forexblog.org/images/reviews/forex-ch.gif" /> Like many other things, there are a wide range of foreign exchange market brokers to choose from these days. While the vast majority of popular online forex brokers aim to lure in the business of beginning traders, GFX – which is located at <a href="http://www.forex.ch/"><span style="color: #003366;">www.forex.ch</span></a> – is geared towards more experienced forex traders. Its primary software platform, MetaTrader 4, is all business and includes many perks that more advanced traders will enjoy. Another platform offered by GFX, WinTrader, offers a simplified trading experience.<br />
<span style="font-size: large;">About GFX</span><br />
GFX/Forex.ch was founded in the year 2005 and is headquartered in Geneva, Switzerland. Unlike many other popular forex brokerage companies, GFX does not boast a broad array of satellite offices spanning the globe. Instead, its headquarters in Geneva make up the bulk of its operations. Despite that, GFX offers very robust and useful trading products for those who seriously want to trade on the foreign exchange market. Despite the crowded playing field, GFX enjoys a solid reputation and continues to win over new clients every day.<br />
Although GFX doesn’t exhibit the glitz and pizazz that many other online forex brokers do, it more than makes up for that by being steady and reliable. Those who merely wish to dabble in the foreign exchange market are wise to look elsewhere, since GFX is designed with serious traders in mind.<br />
<span style="font-size: large;">Key Registrations</span><br />
If you are looking for a forex broker that boasts a long list of registrations, you’re not going to find it with GFX/Forex.ch. Despite its lack of advertised registrations, GFX enhances its reputation by being backed up by two solid financial institutions. Its financial condition is regularly audited by KPMG, ensuring that customer funds are protected at all costs.<br />
<span style="font-size: large;">Contact Information At A Glance</span><br />
Before signing up with GFX/Forex.ch, it is smart to compile as much contact information as possible. That way, if you encounter problems, glitches or simply find yourself in need of a bit of assistance, you can easily reference the necessary phone number or email address. The basic contact information for GFX is as follows:<br />
<ul><li>Phone Number: +41-22-548-19-39 </li>
<li>Fax Number: +41-22-594-81-79</li>
<li>Email Support: <a href="mailto:info@forex.ch">info@forex.ch</a> </li>
<li>Online Support/Live Chat: forex.ch/chat.htm </li>
</ul><h2>Vital Trading Information About GFX/Forex.ch</h2>Most people use GFX’s MetaTrader 4 software platform when trading with the broker. Although it doesn’t boast all of the bells and whistles that many other forex software platforms do, MetaTrader 4 is a topnotch utility that gets the job done without any hassles. Automated trading and chart trading make it a breeze for experienced traders to get everything accomplished in record time; instant order execution streamlines the entire process, making it less frustrating. Fractional lot sizes allow you to enjoy an enhanced trading experience, while real-time account and margin information make it easy to stay abreast of what is happening with your currencies. Indeed, MetaTrader 4 is a powerful and intuitive program that will thrill experienced forex traders.<br />
Of course, GFX/Forex.ch is about much more than just its software. Learn more detailed information about various aspects of trading with GFX by reading on below.<br />
<span style="font-size: large;">Minimum Deposit Amounts</span><br />
Since GFX/Forex.ch offers two distinct products to its customers – the robust MetaTrader 4 and the simpler WinTrader programs – it has two separate minimum deposit requirements as well. For MetaTrader 4, traders must make an initial deposit of $2,000; for WinTrader, an initial deposit of $500 is required.<br />
<span style="font-size: large;">Account Set-Up</span><br />
The process for setting up an account with GFX/Forex.ch is a bit more long-winded than it is with other sites. However, if GFX has what you need then it is well worth the extra effort. First, an online application must be filled out and submitted. Next, a faxed copy of government-issued identification, or a passport, must be sent to GFX’s administrative offices. The minimum deposit must then be made. Finally, when it is all processed you will receive an email notification including login information, and you are ready to get started trading.<br />
<span style="font-size: large;">Demo Accounts</span><br />
Demo or practice accounts are par for the course with online foreign exchange brokers, and GFX is no exception. You can choose from either the MetaTrader 4 or the WinTrader platforms and are given an initial funding amount of $50,000 to work with. Of course, these are not real funds; they are simply used to simulate how the real programs work. It is highly advised that you make good use of the practice account, since it lets you take GFX/Forex.ch for a test drive to see if it is right for you.<br />
<h3>Dealing Desk</h3>GFX is decidedly bare bones and does not offer any special accommodation or exclusive customer services to its traders. It does not offer any sort of guarantee about trading against its customers, either, so if that is a sticking point for you then you may want to look elsewhere.<br />
<span style="font-size: large;">Leverage Limits</span><br />
For all intents and purposes, GFX works with leverage limits of 200:1 when it comes to trading currencies. While these aren’t the most flexible ones in the forex trading world, they are adequate.<br />
<span style="font-size: large;">Trailing Stops</span><br />
Not surprisingly, GFX/Forex.ch does allow and encourage the use of trailing stops. This may mitigate the lack of a guarantee that the company suffers from, especially for more cautious traders.<br />
<span style="font-size: large;">Trading Spreads</span><br />
Trading spreads for major currencies traded on GFX fall into the two- to three-pip range. The use of fractional pip pricing enhances the tightness of GFX’s spreads, and is one of this broker’s biggest selling points. For instance, EUR/USD has a spread of 2.5 pips; USD/CAD has a spread of 4.5 pips.<br />
<span style="font-size: large;">The Bottom Line</span><br />
People who insist on flashy graphics and showy presentations should skip over GFX/Forex.ch, since that’s not what this forex broker is all about. On the other hand, those who want a solid and reliable currency trading experience – and those who are adept at navigating the forex world in general – will greatly appreciate the power and the advanced capabilities of GFX’s MetaTrader 4 software. Simplicity trumps aesthetics in this case, and GFX wins kudos for emphasizing performance over appearance.<br />
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</script>mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-58386023265715152872010-09-27T01:17:00.000-07:002010-09-27T01:17:01.512-07:00GFT Forex<img align="right" alt="GFT." src="http://www.forexblog.org/images/reviews/gft.gif" /> Getting the most out of your foreign exchange, or forex, market trading experience is a lot easier when you sign up with a reputable and reliable forex broker. Sifting through the many different brokers that do business nowadays can be daunting; to make things a bit easier, we’ve taken a closer look at one of the most popular and well-known forex brokers: Global Forex Trading, or GFT.<br />
<span style="font-size: large;">About GFT</span><br />
When it was founded back in the year 1997, Global Forex Trading, or GFT, was among the first forex brokers to offer its services to retail customers. From the very start, GFT was headquartered in Ada, Michigan; incredibly, within ten years it would expand its reach to include offices and branches around the world. Today, GFT’s customers hail from over 120 different countries, helping to make it one of the most successful and relied upon forex brokers on the planet.<br />
In addition to its headquarters in Michigan, GFT has two other branches in the United States: one in New York City, and one in Chicago. GFT is not restricted to the boundaries of the U.S., though, and has offices in several other countries. Indeed, GFT offices are located in such diverse places as Dubai, London, Sydney, Tokyo and Singapore in order to attend to the needs of its customers around the world more easily and efficiently.<br />
<span style="font-size: large;">Key Registrations</span><br />
GFT holds an impressive number of certifications and is regulated in every country that it has an office in. Customers who insist on trading with a forex broker that meets and exceeds the rigorous demands of various regulatory bodies can’t do much better than GFT, which is registered with:<br />
<ul><li>The Commodities Futures Trading Commission (CFTC) as a Futures Commission Merchant (FCM) </li>
<li>The National Futures Association (NFA) in the United States </li>
<li>The Financial Services Agency (FSA) in Japan</li>
<li>The Australian Securities and Investments Commission (ASIC)</li>
<li>The Monetary Authority of Singapore (MAS)</li>
<li>The Dubai Gold & Commodities Exchange (DGCX) </li>
<li>The Dubai Multi Commodities Centre (DMCC)</li>
</ul><h3>Contact Information At A Glance</h3>Should you decide to do business with GFT, it’s wise to keep all of the relevant contact information handy at all times. If an issue or problem should arise, you’ll be able to have it resolved more quickly and easily. Basic contact information for GFT includes:<br />
<ul><li>Toll-Free Phone Number: 1 (800) 465-4373 </li>
<li>Local Phone Number: 1 (616) 956-9273 </li>
<li>Direct Dealing Desk: 1 (877) 465-0787 </li>
<li>Email Support: <a href="mailto:new.accounts@gftforex.com">new.accounts@gftforex.com</a> </li>
<li>Online Support/Live Chat: <a href="http://www.gftforex.com/contact">www.gftforex.com/contact</a> </li>
</ul><span style="font-size: large;">Vital Trading Information About GFT</span><br />
GFT offers an impressive suite of trading software solutions, allowing traders of all kinds to find the option that is right for them. Whether it’s the desktop-based Dealbook 360, the web-based Dealbook WEB or the mobile-based Dealbook Mobile, traders can take advantage of GFT’s intuitive and user-friendly foreign exchange market trading features with ease. One-click trading, streamlined ordering, free charting tools, free currency news and several other exciting features are included with all of GFT’s software offerings.<br />
Beyond the software, though, there are many other critical things to be aware of when it comes to GFT; learn more about them below.<br />
<span style="font-size: large;">Minimum Deposit Amounts</span><br />
A $200 minimum initial deposit is required when opening a new account with GFT. Subsequent deposits can be made via credit card, debit card or echeck for a minimum of $50; PayPal deposits can be made for a minimum of $100.<br />
<span style="font-size: large;">Account Set-Up</span><br />
Setting up a GFT account online is a snap. After filling out and submitting a brief application – which should take you no more than five or ten minutes – you have a short wait while it is being processed. Thereafter, you make your initial deposit and/or begin your free trial with a GFT practice account – it’s as easy as that.<br />
<span style="font-size: large;">Demo Accounts</span><br />
One of the best ways to get a feel for what GFT – and forex trading in general – is all about is by signing up for a free practice account. Upon signing up, you are given a universal login to all of GFT’s trading platforms; your demo account is customized based on your specific criteria.<br />
<span style="font-size: large;">Dealing Desk</span><br />
Once you become a GFT customer and begin trading on the foreign exchange market with them, you gain access to a higher level of customer service through their direct dealing desk. Whether the website is giving you trouble or you’re not receiving confirmations for your orders, you can dial the dealing desk directly and receive immediate assistance.<br />
<span style="font-size: large;">Leverage Limits</span><br />
Leverage limits at GFT are in line with those of most of the other major foreign exchange market brokers. For major currencies, a maximum leverage of 100:1 is in place. For exotic currencies, a maximum leverage of 25:1 is enforced.<br />
<span style="font-size: large;">Trailing Stops</span><br />
Trailing stops are allowed with GFT. As a popular risk management option, trailing stops are pretty standard with most of the major online forex brokers. Using trailing stops on the Dealbook 260, Dealbook WEB and Dealbook Mobile platforms is as easy as a couple of clicks of the mouse button.<br />
<span style="font-size: large;">Trading Spreads</span><br />
With more than 120 pairs to choose from, it’s easy to find a spread that will work for you with GFT. Spreads as low as one pip are available, enhancing your odds of raking in some serious profits. Of course, familiarizing yourself with the spreads for major and less-major currencies is the best way to be successful in any forex trading endeavor. Some of the lowest spreads available include those for EUR/USD, EUR/GBP, USD/JPY and EUR/CHF.<br />
<span style="font-size: large;">The Bottom Line</span><br />
With some of the most attractive trading platforms in the industry, an impressive array of conformance with major regulatory bodies, offices that span the globe and very competitive trading spreads, GFT is a natural choice for forex traders of all caliber. Mobile, web-based and desktop-based software choices make it easy for just about anyone to get comfortable with GFT. Whether you’re just dipping your toe into the foreign exchange market or have been at it for some time, GFT is a solid option.<br />
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</script>mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-75650972728697844962010-09-27T00:58:00.000-07:002010-09-27T01:05:17.549-07:00GFS Forex<img align="right" alt="GFS Forex." src="http://www.forexblog.org/images/reviews/gfs-forex.gif" /> Wading through the various online foreign exchange market brokers and singling out one to work with can be tricky. As popular as the forex market is, there are always new brokers setting up shop and older ones shutting their doors. Generally speaking, selecting a broker that’s been around for awhile is the best bet. <a href="http://www.gfsforex.com/"><span style="color: #003366;">GFS Forex</span></a> has been in the trading business since 2001, and got into the forex market in 2006. In order to discern whether or not GFS Forex has what it takes, we’re going to take a closer look at it and explore how it operates.<br />
<span style="font-size: large;">About GFS Forex</span><br />
When it was first founded in 2001, GFS worked with various investment instruments and provided a broad suite of investment services. It wasn’t until 2006 that GFS Forex & Futures, Inc., began to delve into the foreign exchange market in earnest. Initially, this broker did not accept clients from the United States – a move that seriously limited its growth potential. However, GFS eventually did open its doors to U.S. traders and has since seen its business boom considerably.<br />
From its headquarters in San Francisco, GFS Forex now focuses on providing foreign exchange market traders with professional and efficient trading tools. An additional branch, in New York City, is located near Wall Street and helps keep this broker in the loop when it comes to financial news. In this way, serious investors and traders can take heart in the fact that GFS Forex is a legitimate financial trading operation.<br />
<span style="font-size: large;">Key Registrations</span><br />
<span style="font-size: x-small;">Since it operates on United States soil, GFS Forex does maintain compliance with several regulatory bodies. For example:</span><span style="font-size: large;">Account Set-Up</span><br />
<ul><li>GFS Forex is a Registered Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC) </li>
<li>GFS Forex is a member of the National Futures Association (NFA) </li>
</ul><h3>Contact Information At A Glance</h3>After looking through this review, if you decide to do business with GFS Forex it is wise to have its relevant contact information readily at hand. For your convenience, it is located below:<br />
<ul><li>Toll-Free Phone Number: (888) 437-2660 </li>
<li>Local Phone Number: (415) 321-7188 </li>
<li>Fax Number: (415) 321-7199 </li>
<li>24-Hour Support: (866) 227-2739 </li>
<li>Email Support: <a href="mailto:info@gfsforex.com">info@gfsforex.com</a> </li>
<li>Online Support: <span class="hilite"><span style="background-color: #d3e18a;"><a href="http://www.gfsforex.com/eng/contact-us.htm">http://www.gfsforex.com/eng/contact-us.htm</a> </span></span>.gfsforex.com/eng/contact-us.htm</li>
</ul><span style="font-size: large;">Vital Trading Information About GFS Forex</span><br />
Unlike many of the other major online foreign exchange market brokers, GFS Forex does not offer its own proprietary trading platform and does not offer one for download to its clients. Instead, it supports and works with several of the most popular kinds of trading software. Assuming GFS Forex works with the software of your choice, you will find it to be quite useful. If GFS Forex does not support the software that you prefer to use, you’ll find it decidedly less advantageous to trade with GFS. Finally, if you are wholly inexperienced with trading softwares of any kind, you will have a difficult time getting going with GFS Forex.<br />
Since GFS Forex does not offer its own trading software, the focus has to be on the services that it offers. You can get a better understanding about those services and what they mean to you by reading more below.<br />
<span style="font-size: large;">Minimum Deposit Amounts</span><br />
In the wide world of forex brokers, GFS Forex has a rather hefty minimum deposit requirement. At $500, GFS is definitely near the top of the list when it comes to the initial investment that traders have to make in order to do business with them.<br />
<br />
Setting up an account with GFS Forex is complicated and slow, especially when compared with most other major online forex brokers. It appears that this company hasn’t updated its application process in some time, leaving those who want to open accounts to deal with a morass of confusing screens and long wait times. Of course, you will eventually be able to open an account – getting there just isn’t easy.<br />
<span style="font-size: large;">Demo Accounts</span><br />
Demo accounts are par for the course with forex brokers nowadays, and GFS Forex is no exception. There is a free demo or practice account available that allows you to get a feel for how GFS Forex and its system works. However, you’re going to have to do a lot of digging to find out how to make this happen – the site is not exactly forthcoming with the information.<br />
<span style="font-size: large;">Dealing Desk</span><br />
Generally companies that do not have a dealing desk typically market that heavily. No mention whatsoever is made of dealing desks at GFS Forex. They make no guarantees or promises about using or relying on dealing desks, and there is no definite way to tell whether or not they trade against their clients. Additionally, there does not appear to be any sort of special accommodations made for registered clients; everyone shares the same customer service features, regardless of whether they are paying customers or not. <br />
<span style="font-size: large;">Leverage Limits</span><br />
Leverage limits at GFS Forex are pretty standard and are either 1:100 or 1:200. These limits are not unusual and can be found at other brokers all over the Internet, so in this way GFS Forex does conform with what the majority of its peers are doing.<br />
<span style="font-size: large;">Trailing Stops</span><br />
Not surprisingly, trailing stops are allowed and encouraged at GFS Forex. This is one concession that GFS makes to its traders in order to help them minimize their overall risk on the foreign exchange market.<br />
<span style="font-size: large;">Trading Spreads</span><br />
While many online foreign exchange market brokers offer unique perks or ultra-slim spreads to lure traders in, GFS Forex does not. Instead, even on a popular currency pair like EUR/USD, it offers an average spread of three pips. A tiny bit of research will show you that there are much more competitive spreads to be found elsewhere.<br />
<h2>The Bottom Line</h2>The difficulty of setting up an account, the high minimum deposit and the uncompetitive trading spreads all conspire to make GFS Forex a less-than-adequate choice for people who are looking for smooth, easy forex trading experiences. Although this company does have a relatively long history, it seriously needs to update its website and its services if it hopes to continue competing with other major players in the forex market game.mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-6034431983860125562010-09-27T00:52:00.000-07:002010-09-27T00:52:57.425-07:00FxProWhen it comes to forex trading companies, bigger isn’t always better. Such is the case with <a href="https://www.fxpro.com/"><span style="color: #003366;">FxPro</span></a>, a full-service company with a six-member management team that earned top awards from World Finance magazine. Offering the same services as larger trading companies, FxPro prides itself on providing excellent customer service and attention to details, making it a favorite among traders of all sizes.<br />
<h2>About FxPro</h2><h2><span style="font-size: x-small;">FxPro is a full-service forex market trading services company, offering a wide range of financial instruments, including metals, foreign exchange, futures and indices and Contracts for Differences (CFDs) on stocks. Founded in 2006 as EuroOrient Securities & Financial Services Ltd by a group of dedicated and experienced financial experts, the company changed its name to FxPro Financial Services Ltd and today serves clients in more than 120 countries, 24 hours a day, seven days a week. With physical locations in the United Kingdom, Russia, France, Greece and Austria, FxPro prides itself on its culture of corporate social responsibility, and employees regularly volunteer in the communities where they are located.</span></h2><h2><span style="font-size: x-small;">Chairman and founding partner and Denis Sukhotin leads the six-member FxPro management team. Sukhotin holds a master’s degree in finance and economics from the Moscow Institute of Entrepreneurship and Law, and a diploma in business administration from Limassol, Cyprus’ CTL College. In 2009, World Finance magazine named FxPro as Europe’s ‘Best Forex Broker.’</span></h2><h2>Key Registrations</h2><h2><span style="font-size: x-small;">FxPro is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC, <span class="hilite"><span style="background-color: #d3e18a;">http://www</span></span>.cysec.org.cy) the regulatory and supervisory authority for the financial services industry in Cyprus. CySEC is a member of the CESR (Committee of European Securities Regulators).</span><span style="font-size: x-small;">The company operates under the EU Markets in Financial Instruments Directive (MiFID) and under the Cypriot Investment Services and Activities and Regulated Markets Law of 2007 (Law 144(I)/2007). Adopted by Cypress in 2007, MiFID provides regulation of investment services firms operating within the European Economic Area. Lnks to licenses, policies and procedures adopted under MiFID guidelines can be seen at https://www.fxpro.com/licenses.html. FxPro also holds a cross-border license, allowing the company to operate internationally.</span><span style="font-size: x-small;">FxPro is also a member of the following organizations:</span></h2><ul><li><span style="font-size: x-small;">CIFSA (Cyprus International Financial Services Association, <span class="hilite"><span style="background-color: #d3e18a;"><a href="http://www.cifsa.org/">http://www</a>) </span></span>.cifsa.org</span></li>
<li>CCCI (Cyprus Chamber of Commerce and Industry, <span class="hilite"><span style="background-color: #d3e18a;"><a href="http://www.ccci.org.cy/">http://www</a>) </span></span>.ccci.org.cy</li>
<li>CFSFA (Cyprus Financial Services Firms Association, <span class="hilite"><span style="background-color: #d3e18a;"><a href="http://www.cfsfa.org.cy/">http://www</a>)</span></span>.cfsfa.org.cy</li>
</ul><span style="font-size: large;">Contact Information At A Glance</span><br />
With international back office operations headquartered in Cypress, FxPro offers a wide range of customer support options to clients across the globe, including live chat located through a link at their website, email and phone options. A multi-lingual customer service team can be reached around the clock five days a week, from 10 pm GMT Sunday to 10 pm GMT Friday. Clients can also contact their personal account managers directly at any time. The following list will help you keep all of FxPro’s information at your fingertips, if you decide to open an account with them:<br />
<ul><li>Chat (link on left): <a href="https://www.fxpro.com/contacts.html">https://www.fxpro.com/contacts.html</a> </li>
<li>Email support: <a href="mailto:support@fxpro.com">support@fxpro.com</a> </li>
<li>Phone: +44(0)207 776 9720 </li>
<li>Fax: +44(0)207 600 7063 </li>
<li>Trading desk email: <a href="mailto:dealing@fxpro.com">dealing@fxpro.com</a> </li>
<li>Trading desk phone: +357.25.969.239 </li>
<li>A list of international toll-free numbers is available here: <a href="https://www.fxpro.com/contacts.html">https://www.fxpro.com/contacts.html</a> </li>
</ul><span style="font-size: large;">Vital Trading Information About FxPro</span><br />
With its real-time charting and analytics, FxPro offers a wealth of opportunity and options for both experienced and novice traders. FxPro also offers several powerful and popular trading platforms, including<br />
<ul><li>MT4 Standard </li>
<li>iPhone </li>
<li>WebTrader </li>
<li>MT4 MultiTerminal </li>
<li>Mobile PDA SmartPhone </li>
</ul>Trading conditions and platforms can be seen at <a href="https://www.fxpro.com/trading-conditions.html">https://www.fxpro.com/trading-conditions.html</a><br />
<span style="font-size: large;">Minimum Deposit Amounts</span><br />
The minimum initial deposit required to open an account is $500 or equivalent in EUR, CHF, GBP, JPY. Both deposits and withdraws can be made using a variety of options, including bank wire transfers; Visa, Visa Electron and Visa Delta; MasterCard; Maestro International and Maestro UK; PayPal; Neteller; and Moneybookers. All options can be used without incurring charges from FxPro.<br />
<h3>Account Set-Up</h3>Setting up an account is a simple process that can usually be completed in five to ten minutes, and involves just a few steps:<br />
<ul><li>Complete the registration form, including the email address you want to have associated with the account </li>
<li>Activate your account by clicking on the link that will be emailed to you after you complete the registration form </li>
<li>Create your password and check your email once more for your trading credentials </li>
<li>Login to your FxPro account </li>
<li>Upload required documents, including personal identification and proof of address (you can see the specific requirements at this link: <a href="https://www.myfx.pro/kb/34">https://www.myfx.pro/kb/34</a>) </li>
<li>Deposit funds </li>
</ul><span style="font-size: large;">Demo Accounts</span><br />
In addition to its full-service trading accounts, FxPro site offers a demo account to allow potential clients an opportunity to fully explore all of the options available to them through FxPro. With a $100,000 USD unlimited Demo Account, novice traders are encouraged to explore the world of currency trading, learning new skills and enhancing current knowledge. The no-cost, no-fee demo allows users to test their strategies using real-time quotes and real market conditions, with charts and other analytic tools that can help you become comfortable in the currency marketplace. FxPro’s demo account also allows users to track the performance of both short- and long-term strategies without any risk or obligation. All analytic tools and charts in the demo account are the same tools active accountholders use every day, meaning inexperienced traders can see how a real account would actually behave.<br />
<h3>Dealing Desk</h3>FxPro does maintain a dealing desk that performs the following tasks:<br />
<ul><li>Monitors and quotes prices, comparing prices with other market participants to ensure rates are competitive </li>
<li>Monitor spreads </li>
<li>Offer up-to-the-minute news and analysis </li>
<li>Maintain systems operations </li>
<li>Provide customer service </li>
</ul><span style="font-size: large;">Trailing Stops</span><br />
Both MT4 expert advisors and trailing stops are fully supported by FxPro, nad initiating stops can be easily affected through the easy-to-use toolbar accessible through your account homepage.<br />
<span style="font-size: large;">Trading Spreads</span><br />
Under regular trading conditions, FxPro offers spreads starting from 0.5 pips EUR/GBP, 0.8 pips EUR/USD, and 0.8 pips GBP/USD. There is no spread enlargement during news releases. Trading volumes from 10k (0.1 lot) are supported and currency quotes include a fifth digit to accurately reflect even small shifts in the marketplace.<br />
Leverage-margin requirements are as follows:<br />
<ul><li>Forex: 1:1 up to 1:500, accountholder’s choice </li>
<li>CFD shares: 10 percent </li>
<li>Spot precious metals: 2 percent </li>
<li>CFD futures: fixed</li>
</ul>No margin is required for hedged positions.<br />
<span style="font-size: large;">Bottom Line</span><br />
With its advanced features and multiple trading platforms, coupled with an interactive demo account that offers real-time experience, FxPro could be a good choice for both experienced and novice investors.mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-62160552598395029312010-09-25T02:26:00.000-07:002010-09-25T02:26:54.656-07:00FXCMWhether you’ve been trading on the foreign exchange, or forex, market for some time – or are interested in trying it out for the first time – the first thing you need to do is choose a forex broker. As the popularity of forex trading continues to skyrocket, the number of forex brokers steadily rises. Choosing one from a sea of many can be daunting, but it is best to stick with large, reputable names. Forex Capital Markets LLC, or <a href="http://www.fxcm.com/"><span style="color: #003366;">FXCM</span></a>, is one of the largest and most well-regarded forex brokers in business today. We’ll take a closer look at FXCM below.<br />
<h2>About FXCM</h2>Since being founded in 1999, Forex Capital Markets LLC – commonly known as FXCM – has risen to become one of the most reputable and relied upon forex brokers in the world. Its 2008 revenues surpassed $300 million, and it employs more than 550 people worldwide. Its main headquarters in New York serve as the nucleus of a worldwide organizational structure that offers a flexible number of options to the many traders who rely upon its services.<br />
FXCM’s global reach began in earnest in 2002, when it opened its London office. Over time, FXCM has opened offices in Hong Kong, Sydney, Dubai and Paris; it also has several offices within the United States. Its FX Trading Station trading software is regarded as one of the leaders in the industry, and FXCM further distinguishes itself by offering a discount brokerage division, FXCM Micro, along with its regular suites of services under FXCM Standard.<br />
<span style="font-size: large;">Key Registrations</span><br />
FXCM is registered with the:<br />
<ul><li>Futures Commission Merchant (FCM) </li>
<li>National Futures Association (NFA) </li>
<li>Australian Securities and Investments Commission (ASIC) </li>
</ul><h3>Contact Information At A Glance</h3>If you decide to do business with FXCM, you’ll want to keep its most important contact information on hand. The basic contact information for FXCM is as follows:<br />
<ul><li>Free Phone Number: 1 (888) 50-FOREX or 1 (888) 503-6739 </li>
<li>Local Phone Number: 1 (212) 201-7301 </li>
<li>Fax Number: 1 (877) 229-0004 </li>
<li>Trading Desk: 1 (866) 600-FXCM or 1 (866) 600-3926 </li>
<li>Email Support: <a href="mailto:info@fxcm.com">info@fxcm.com</a> </li>
<li>Online Support/Live Chat: <a href="http://www.fxcm.com/live_help/prechat_survey_body.htm">www.fxcm.com/live_help/prechat_survey_body.htm</a></li>
</ul><span style="font-size: large;">Vital Trading Information About FXCM</span><br />
The vast majority of foreign exchange trading transactions with FXCM are performed using its key trading software, FX Trading Station. FX Trading Station is widely regarded as one of the top trading softwares in the industry, featuring cutting edge technology and the convenience of trading directly on the charts. With streaming quotes, one-click trading, easy customization, extensive reporting and many other prime features, FX Trading Station can be used with ease by beginner and experienced traders alike.<br />
There are several other key things to know about trading on the foreign exchange market with FXCM. For your convenience, we have highlighted a selection of the most important ones below.<br />
<span style="font-size: large;">Minimum Deposit Amounts</span><br />
The minimum deposit for opening a standard online account with FXCM is $100; a $25 minimum deposit is required to open a FXCM Micro account. For a Standard 10K account, the minimum deposit is $2,000.<br />
<span style="font-size: large;">Account Set-Up</span><br />
Setting up an account with FXCM is relatively easy. First, an application that takes approximately ten minutes to fill out must be submitted. The application is reviewed and processed within one to three business <span style="font-size: x-small;">days. Upon completion, you will be sent an email which you can then use to complete the signup process.</span><br />
<span style="font-size: large;">Demo Accounts</span><br />
A free practice trading account is available through FXCM and can be used for up to thirty days. This practice account can be used to learn what FXCM and is FX Trading Station software is all about. You can also evaluate and try out different trading strategies without any financial risk. Indeed, an FXCM practice trading account involves no real capital on your end, making it a smart way to get to know the system.<br />
<span style="font-size: large;">Dealing Desk</span><br />
One of FXCM’s key characteristics as a foreign exchange broker is that it offers a No Dealing Desk trading execution. In this way, FXCM eliminates any potential conflict of interest between its brokers and traders, ensuring that you enjoy the best transactions and experiences with your trades. Offers like these aren’t made by many forex brokers, and FXCM’s No Dealing Desk policy really makes it stand out from the crowd.<br />
<span style="font-size: large;">Leverage Limits</span><br />
FXCM offers flexible leverage amounts on its trading accounts; the maximum leverage available is approximately 100:1. Although flexible leverage amounts means that traders can utilize their own amount of leverage as desired. However, the vast majority of FXCM traders choose to trade using the default leverage amounts, which are based on default margin settings.<br />
<span style="font-size: large;">Trailing Stops</span><br />
Trailing stops are an available option for FXCM traders; stop orders can be turned into trailing stops with the click of a button, making it a very easy and streamlined process for those who want to use this form of risk management during their forex trading.<br />
<span style="font-size: large;">Trading Spreads</span><br />
There are many foreign exchange market brokers to choose from these days; sticking with a prominent, well-known company is always a good idea. With FXCM, more than ten years of topnotch forex market experience and a global presence ensures that traders are enjoying some of the most balanced and fair trading today. The ease of using the FX Trading Station software makes FXCM a great choice for novices and experts alike, and FXCM’s No Dealing Desk trading execution policy enhances traders’ opportunities to nail down the best profits possible. All told, FXCM is a reliable and reputable choice for any forex trader. <br />
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</script>mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-77718614589069553282010-09-25T02:17:00.000-07:002010-09-25T02:17:14.094-07:00Forex Club<img align="right" alt="FX Club." src="http://www.forexblog.org/images/reviews/forex-club.gif" /> Forex Club is geared towards beginners who are new to online currency trading. Therefore, Forex Club offers educational resources to help beginners gain a better understanding of the trading process. These include step-by-step guides, free web-based seminars and live chat sessions. Forex Club also offers the ExpressFX platform, a simple trading platform that is easy to understand for beginners and provides a relatively risk-free trading experience. As a result, Forex Club was awarded “Best Broker for Beginners” by Forex-Ratings and is considered one of the best in the industry.<br />
<h2>About Forex Club</h2>Forex Club Financial Company (<a href="http://www.fxclub.com/"><span style="color: #003366;">fxclub.com</span></a>) is a brokerage specializing in Forex trading. Based in the New York City area, it is registered with Commodity Futures Trading Commission and is a current member of the National Futures Association (NFA ID# 0358265). Forex Club currently serves clients from over 50 countries and claims to open over 1,000 new accounts per day. This feature includes both live trading accounts and demo accounts.<br />
The company was founded in 2005 by Michael J. Felice, who currently serves as both President and Chief Executive Officer of this company. Felice has over 30 years of experience in the brokerage industry and has also been involved with other financial and regulatory agencies. Other instrumental figures include Peter Tatarnikov, serving as the company’s vice president and COO with 12 years of experience in the Forex industry, and Michael Felice Jr., serving as the company’s CFO since 2007.<br />
<h3>Contact Information</h3>Customer support can be contacted via an email form located on the Forex Club website. Forex Club also features a live chat support service, where a real-life representative is available to answer any questions and other concerns. You can also reach the company by phone toll-free at 1-800-881-3809. Another method of contacting Forex Club consists of using the “Request a Call” link (http://service.ringcentral.com/ringme/callback.asp?mbid=55787941,0,&referer=). After filling out your phone number and confirmation code, the system will contact you and connect you to Forex Club.<br />
Contact information at a glance:<br />
<ul><li>Phone Number: 1-800-881-3809 (US Toll-free) </li>
<li>E-mail Support: <a href="mailto:info@fxclub.com">info@fxclub.com</a> </li>
</ul><span style="font-size: large;">Account Funding Information</span><br />
The next step is funding your new account if you have chosen to create a live account. Forex Club offers several methods of depositing funds into your trading account. Credit cards can be used to deposit funds – Visa and MasterCard customers are charged a processing fee ranging from 2.24% to 2.59%, while Discover Card users are not charged a processing fee. These deposits are processed immediately if made before the end of the weekly trading session. Other methods of depositing funds include online check (reserved for U.S. customers), bank wire and money order.<br />
<span style="font-size: large;">Minimum Deposit Amounts</span><br />
Live accounts require a minimum $10 deposit. Those who deposit more upon opening will receive bonus benefits – for instance, a $100 or more deposit will grant you an additional $100 margin bonus, while a $300+ deposit will grant you unlimited market signals.<br />
<h3>Demo and Live Account Software</h3>Forex Club offers demo accounts for those who want to learn how to trade Forex without risking any real money and prospective customers who want to get a feel of Forex Club’s trading environment before creating a real account. The demo uses the ExpressFX platform, which provides step-by-step instruction on how to go through each trade. While the ExpressFX platform gives newcomers and regular traders an easier way to make successful trades, those who have ample experience may find the ClassicFX platform more suitable to their needs. Geared towards veteran traders, the ClassicFX platform features more customization options for keeping track of emerging trends. Users of the ClassicFX platform can choose to monitor time frames up to a year, plot their own custom indicators, and have complete control over other customizable features. ClassicFX users also receive audible news and order alerts<br />
<h3>Commissions and Leverage Limits</h3>Commissions for using the ExpressFX platform are $0.4 per 1000 traded. In the event of an unsuccessful trade, the commission price is instantly refunded, meaning that traders using the ExpressFX platform are not penalized when they make a loss. Minimum lot size is 0.01 and there are 22 currency pairs offered for trade. Leverage in the base currency is 1:100 and variants range from a max of 50:1 for accounts of $100,000 to $200,000 and 20:1 for accounts above the $200,000 mark. Forex Club offers stop orders and limit orders, but does not offer trailing stops.<br />
<h3>Website Navigation and Account Setup</h3>Navigating the Forex Club website is relatively straightforward, with the most important navigation links and features prominently displayed. The website is also available in Russian, as well as simple and traditional Chinese. Setting up an account with Forex Club is simple and free of any hassles. For instance, one of the first steps towards joining Forex Club is filling out a relatively simple application form that only takes a few minutes to complete.<br />
<span style="font-size: large;">Bottom Line</span><br />
Forex Club is a good choice for those who are new to Forex trading and want a comfortable and relatively risk-free starting point. Since the online Forex trader is geared towards beginners, those who have plenty of experience may end up satisfied elsewhere, but Forex Club does its best to accommodate both new and veteran traders.<br />
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</script>mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-83349126028331122152010-09-25T02:10:00.000-07:002010-09-25T02:10:28.112-07:00Forex.comThere are many popular online foreign exchange market brokers doing business these days. If you’re like many people, then you’d probably prefer to stick with a well established and reputable broker. Some brokers offer exceptional trading spreads; others boast easy-to-use trading platforms that make getting into the forex game a breeze. <a href="http://www.forex.com/"><span style="color: #003366;">Forex.com</span></a> – a division of Gain Capital Group LLC – manages to combine both of those attributes, and many more. Whether you’re just starting out in the foreign exchange market or are a very experienced trader, Forex.com/Gain Capital is bound to have a product and an account type that will work for you.<br />
<span style="font-size: large;">About Forex.com / Gain Capital Group LLC</span><br />
Gain Capital Group LLC was founded in 1999 by a group of experienced Wall Street professionals. Since then, it has built up an impeccable reputation for offering some of the very best forex services in the world. Forex.com’s clients come from over 140 different countries, and include individual traders, Commodity Trading Advisors, fund managers and many other investment professionals. With a corporate headquarters in Bedminster, New Jersey and an additional location on Wall Street, Forex.com/Gain Capital is a topnotch forex broker.<br />
Beyond its far reach, Forex.com/Gain Capital Group has received many important awards through the years – something that further emphasizes its exceptional level of service. This company offers a broad suite of services, with accounts geared toward amateur traders and experienced traders alike.<br />
<h3>Key Registrations</h3>In keeping with its good reputation, Forex.com/Gain Capital Group LLC is registered with the following:<br />
<ul><li>A Futures Commission Merchant (FCM) with the Commodity Futures Trading Commission (CFTC) </li>
<li>A member of the National Futures Association (NFA) </li>
</ul><h3>Contact Information At A Glance</h3>If you decide to trade with Forex.com/Gain Capital Group LLC, you’ll find that staying in touch is easy. Keep the following contact information on hand in case you ever require assistance or if you ever have any questions regarding their foreign exchange market services:<br />
<ul><li>Toll-Free Phone Number: 1 (877) FOREXGO or 1 (877) 367-3946 </li>
<li>Local Phone Number: 1 (908) 731-0750 </li>
<li>Fax Number: 1 (908) 731-0788 </li>
<li>Email Support: <a href="mailto:info@forex.com">info@forex.com</a> </li>
<li>Online Support/Live Chat: <a href="http://www.forex.com/contact_us.html">www.forex.com/contact_us.html</a> </li>
</ul><span style="font-size: large;">Vital Trading Information About </span><br />
<span style="font-size: large;">Forex.com/Gain Capital</span><br />
When you sign up with Forex.com, you open up several different possibilities when it comes to trading software and platforms. Whether you choose to open a managed account, a standard account or a mini account, you’ll have access to FOREXTrader Pro and FOREXTrader Java, both which can be downloaded to your computer. If you prefer a web-based trading platform, then FOREXTrader Web is right up your alley. Those who prefer to use their mobile devices to trade on the forex market will be thrilled with FOREXTrader Wireless. Finally, MetaTrader 4 is supported by Forex.com, giving even more options to busy traders.<br />
Regardless of which platform you choose to use, you can rest assured that you are in for a user friendly, intuitive experience. The interface on all of these platforms is streamlined and attractive. You can trade and manage your positions in real time, making foreign exchange market trading a snap. Each platform is very customizable, allowing you to use the features that you need the most, when you need them. Instant access to many different types of information help you be the most savvy trader possible.<br />
There are other things to keep in mind about Forex.com/Gain Capital; learn about them below.<br />
<span style="font-size: large;">Minimum Deposit Amounts</span><br />
The minimum deposits for opening a mini account, a standard account and a managed account are $250, $2,500 and $5,000, respectively. Depending on your level of interest and your experience, you can choose from any one of those three options.<br />
<h3>Account Set-Up</h3>If you choose to sign up for your account with Forex.com online, it’s a relatively easy process. The online form is self explanatory and only takes a few minutes to fill out. Otherwise, you can download and mail or fax in an application form; however, this will make the process take a lot longer.<br />
<span style="font-size: large;">Demo Accounts</span><br />
A free practice account is available for traders at Forex.com. It comes with a $50,000 beginning balance and is available for up to thirty days. During that time, you can familiarize yourself with how the FOREXTrader platforms work, trading up to 37 different currency pairs all the while.<br />
<span style="font-size: large;">Dealing Desk</span><br />
As a registered client of Forex.com/Gain Capital, you will have access to special customer service assistance through a dealing desk. At the same time, you can rest assured that you’re not being traded against by Forex.com, since one price is published and live quotes ensure that prices are always “at market.”<br />
<h3>Leverage Limits</h3>100:1 is the maximum leverage allowed when trading with Forex.com. Most people opt for a far more conservative leverage amount of approximately 20:1, though.<br />
<h3>Trailing Stops</h3>Trailing stops are allowed when trading with Forex.com/Gain Capital. They can be customized through the regular order entry screen; you simply need to specify that it’s a stop order by selecting that option under the “order type” field.<br />
<span style="font-size: large;">Trading Spreads</span><br />
Major currency pairs boast very competitive spreads of one to two pips at Forex.com. This broker uses fractional pips, allowing its traders to enjoy much tighter and more competitive spreads. Tracking and taking advantage of smaller price movements is much easier with the fractional pip system. EUR/USD has spreads as low as 1.6 pips, making Forex.com one of the most competitively priced brokers online today.<br />
<h2>The Bottom Line</h2>As a trader on the foreign exchange market, you have many different options when it comes to which broker you choose. Forex.com/Gain Capital Group LLC is a solid, reliable choice. This broker enjoys a very good reputation and traders can rest assured that their finances are in good hands when dealing with it. The perks of competitive trading spreads, many different account options and many different easy-to-use trading platforms makes Forex.com a topnotch choice for traders of all stripes. Sink your teeth into what Forex.com has to offer by opening a practice account; chances are, you’ll be impressed enough to sign up for a real one shortly thereafter.<br />
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</script>mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-64839877919617691972010-09-25T02:01:00.000-07:002010-09-25T02:01:15.233-07:00eToroFor the most part, foreign exchange market brokers and their platforms tend to be a bit dry and businesslike. eToro, however, is one major exception to that rule. From a platform that is visually stunning and eye-popping to an overall philosophy that emphasizes free-spirited fun, this relative newcomer to the forex trading market is already making quite a splash. Learn more about <a href="http://www.etoro.com/"><span style="color: #003366;">eToro</span></a> and find out specific information concerning how this forex broker works by reading on below.<br />
<span style="font-size: large;">About eToro</span><br />
In the scheme of things, eToro is a bit wet behind the ears. Founded in 2006, eToro is still feeling its way around and trying to establish a secure customer base. That’s not to say that eToro is struggling; in fact, it has quickly become one of the most well-known online forex brokerages in the world. Given its rapid rate of growth, there’s little doubt that eToro will continue to rise in prominence as time goes by.<br />
eToro’s corporate headquarters are located in the British Virgin Islands; its administrative offices are located in Cyprus. However, eToro also maintains offices at several other major cities including New York City, Singapore, Dubai and Sydney, Australia. In this way, eToro is able to accommodate the customer service needs of clients around the world with ease.<br />
<h3>Key Registrations</h3>Many online foreign exchange market brokers proudly display their key registrations on their websites; this is not the case with eToro. As it is headquartered in the British Virgin Islands, it is possible that eToro simply doesn’t fall under the jurisdiction of any of the major regulatory bodies that many other forex brokers do.<br />
<h3>Contact Information At A Glance</h3>Upon signing up to trade with eToro, it is in your best interests to keep all of the relevant contact information for the company on hand. Should any problems, issues or concerns arise, you’ll be able to handle them quickly, easily and efficiently. The most important contact information for eToro is as follows:<br />
<ul><li>Toll-Free Phone Number: 1 (866) 350-0881 </li>
<li>Freephone: 357-2-5030251 </li>
<li>Fax Number: +44-866-350-0881 </li>
<li> Email Support Form: <a href="http://www.etorousa.com/contact/Request_a_call_back.aspx">www.etorousa.com/contact/Request_a_call_back.aspx</a> </li>
<li>Online Support/Live Chat: <a href="http://www.etoro.com/about-us/contact-us.aspx">www.etoro.com/about-us/contact-us.aspx</a> </li>
</ul><span style="font-size: large;">Vital Trading Information About eToro</span><br />
Unlike many of the top online foreign exchange market brokers, eToro does not give its trading software or platform its own unique name. Instead, the software and platform that you will trade on when using eToro is simply called eToro. Despite the simple moniker, though, the eToro platform is very streamlined, efficient, intuitive and user friendly. In fact, eToro is one of the best platforms available today for those who don’t have a lot of forex trading experience. Beginners will enjoy an easy introduction to the world of trading foreign currencies when they use eToro.<br />
The eToro software is characterized by a simple interface and bold, vibrant fonts and graphics. Getting comfortable with the eToro platform takes no time at all, but there is more to using eToro than its software. Learn more about the key benefits, features and characteristics of trading with eToro by reading on below.<br />
<span style="font-size: large;">Minimum Deposit Amounts</span><br />
When you consider the $500 bonus that you’ll receive for signing up with eToro, the $50 minimum deposit doesn’t seem prohibitive at all. Indeed, $50 is all that is needed to get going with this simple and engaging trading program.<br />
<span style="font-size: large;">Account Set-Up</span><br />
Assuming that you’ll be setting up your eToro account online, the process won’t take you very much time at all. You just need to fill out and submit a brief application, wait a day or two for approval and then download the eToro software to get going with your forex trading experience.<br />
<span style="font-size: large;">Demo Accounts</span><br />
Before jumping into foreign exchange market trading with eToro, you can download and use it absolutely risk-free with a practice account. After completing a brief registration, you’ll be prompted to download the eToro software. Setting up a practice account is highly recommended, since it allows you to get a feel for how eToro works without parting with a single penny.<br />
<span style="font-size: large;">Dealing Desk</span><br />
eToro doesn’t use a dealing desk in the traditional sense of the word. Like many other up-and-coming forex brokers, eToro believes that dealing desks can compromise the trading experience by letting individual brokers exert too much influence over traders’ accounts. Instead, eToro uses an automated dealing desk that does away with the potential for human errors and other issues.<br />
<h3>Leverage Limits</h3>Leverage limits run the gamut at eToro, depending on which of the 15+ currency pairs you are dealing with. Limits range anywhere from 1:5 to 1:400 for currencies that are traded using eToro. Therefore, it is possible for traders of all sensibilities to find a currency that they will be comfortable trading with on eToro. Without a doubt, leverage limits are quite flexible and easy to work with on eToro.<br />
<h3>Trailing Stops</h3>Oddly enough, eToro does not offer trailing stops to its traders. Stop loss and automatic stop loss orders are, of course, available; trailing stops are not.<br />
<h3>Trading Spreads</h3><span style="font-size: small;">eToro touts itself for offering fixed spreads that can be as low as two pips. Popular currencies have the most competitive spreads, which is typical for an online forex broker. For example, the spread for EUR/USD is commonly right around three pips. When stacked up against other popular foreign exchange market brokers, eToro’s spreads are very competitive indeed and are sure to win it over many new clients as time goes by.<br />
</span><span style="font-size: large;">The Bottom Line</span><br />
Those looking for a fresh, fun approach to trading on the foreign exchange market will be very pleased with eToro. Similarly, beginners who wish to ease themselves into trading foreign currencies will be quite comfortable with eToro’s simple design and execution. With its automated dealing desk, it can be argued that eToro increases traders’ odds of getting the most competitive forex trading opportunities online today. Low minimum deposit requirements and an uncluttered interface combine to make eToro one of the most exciting forex brokers in the world right now. Whether you’re just starting out or have quite a bit of experience, eToro is a reliable choice.<br />
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</script>mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-91403605122664710372010-09-25T01:51:00.000-07:002010-09-25T01:51:43.459-07:00Easy Forex<h2>About Easy Forex:</h2>Easy Forex is the innovative forerunner FX trading system that created the industry standards for online foreign exchange currency trades and transactions. Founded in the year 2003, Easy Forex is a Website that was fashioned by a diverse group of industry professionals from the trading, banking, and Internet marketing sectors. <a href="http://www.easy-forex.com/"><span style="color: #003366;">Easy Forex</span></a> is a resourceful Website that provides direct access to all important global currency markets.<br />
While EasyForex.com was originally founded in Cypress, this foreign exchange trading platform is registered in the United States of America with the Commodities Futures Trading Commission. This Forex brokerage firm is also a member of the prestigious commodities watchdog organization, The National Futures Association. Currently, there are over 21 highly-respected global banking institutions providing financial backing for the online Easy Forex programs.<br />
<h3>Key Registrations:</h3><ul><li>Commodities Futures Trading Commission (UFTC) </li>
<li>National Futures Association (NFA) </li>
<li>U.S. Better Business Bureau (BBB) / B+ Rating </li>
</ul><h3>Contact Information At A Glance</h3>Live Chat: <a href="http://www.easy-forex.com/">http://www.easy-forex.com/</a><br />
Main Physical Address:<br />
Easy Forex Worldwide Limited.<br />
Kings House<br />
The Grange<br />
St. Peter Port<br />
Guernsey GY1 2QJ<br />
Main E-Mails:<br />
General – info@easy-forex.com<br />
Customer Support – cs@easy-forex.com<br />
Technical Support – support@easy-forex.com<br />
Agents – agents@easy-forex.com<br />
Introducing Brokers – ib@easy-forex.com<br />
White Labels – infowhitelabels@easy-forex.com<br />
Forex Affiliates – affiliates@easy-forex.com<br />
Complaints – complaints@easy-forex.com<br />
Europe Headquarters<br />
Griva Digheni 1, Office 303<br />
Kriel Court<br />
Limassol, Cyprus 3035<br />
Tel: +357 25 828 899<br />
Fax: +357 25 817 183<br />
More Europe Contacts:<br />
http://en.easy-forex.com/EU/ContactUs.aspx<br />
Asia Pacific Headquarters<br />
Level 2, 437 St. Kilda Road<br />
Melbourne 3004<br />
Australia<br />
Tel: 1300 303 908<br />
Fax: +61 3 9020 8890<br />
More Asia Pacific Contacts:<br />
http://en.easy-forex.com/AU/ContactUs.aspx<br />
Easy Forex United States<br />
10 South Riverside Plaza<br />
Suite 760<br />
Chicago, IL 60606 – USA<br />
Tel: +1 312 234 9110<br />
Toll Free: +1 877 5 EASYFX (+1 877 532 7939)<br />
Fax: +1 312 234 9112<br />
More US Contacts:<br />
<a href="http://en.easy-forex.com/US/ContactUs.aspx">http://en.easy-forex.com/US/ContactUs.aspx</a><br />
<h2>Vital Trading Information About Easy Forex:</h2>The foreign exchange trading platform can often be confusing to new users. Easy Forex provides an uncomplicated user-friendly FX trading program that helps new users to gracefully enter the world foreign exchange currency trading. Beginners can practice with the Easy Forex Trade Simulator program that allows these new users a no-risk, no-cost way of becoming familiar with the current trading procedures and guidelines. This trade simulator is also extensively used by the FX professionals who are experimenting with enhanced trading strategies.<br />
<h3>Minimum Deposit Amounts:</h3>Setting up an account with the Easy Forex system requires about 5 minutes of time. The sign-up process is done with a convenient 3-step process that is easy for all new users to follow. At the online EasyForex.com site, the minimum deposit scale begins at only $200 dollars. Tailor-made extra-large deposits are also accommodated on this currency trading Website. An account service manager is available to communicate with the traders who would like to discuss the current trends or options that may help in maximizing a trading investment experience.<br />
<h3>Account Set-Up:</h3>Setting up an account with the Easy Forex system requires about 5 minutes of time. The sign-up process is done with a convenient 3-step process that is easy for all new users to follow. At the online EasyForex.com site, the minimum deposit scale begins at only $200 dollars. Tailor-made extra-large deposits are also accommodated on this currency trading Website. An account service manager is available to communicate with the traders who would like to discuss the current trends or options that may help in maximizing a trading investment experience.<br />
<h3>Demonstration Account:</h3>When a trader registers online at EasyForex.com, they can take advantage of a very useful demonstration program that will issue a practice account with $50,000 virtual dollars in it to experiment with. Through the use of news feeds and play updates, the new user can practice the FX trading formats until they feel comfortable with the trading systems.<br />
The Easy Forex online Internet site is multilingual. Forex traders can choose their favorite display language from: Arabic, Chinese, English, French, German, Greek, Hebrew, Polish, Russian, Spanish.<br />
<span style="font-size: large;">Leverage Limits, Trading Spreads, and Trailing Stops:</span><br />
At Easy Forex, users can leverage their trading for as low as 1:100. Big trading options can happen with small investments on the EasyForex.com trading site. Leverage ratio choices can be 1:50, 1:100, 1:200, or a higher ratio in some of the specialized accounts. United States users are regulated by the National Futures Association (NFA) that caps the leverage ratio at 1:100 for all FX trading that is done in this country. The Easy Forex spreads are low across the board, and normally range from 3 to 5 pips to allow traders from all countries a reasonable profit margin.<br />
Spreads at Easy Forex are set at a moderate level and they vary between accounts, and according to calendar schedules. After-hours trading or foreign currency trading during peak trading conditions may fall under higher spread rates. Highly advanced systems and software programs are in place to ensure that each trade is executed at the user settings for stop-loss and take-profit rates. EasyForex.com allows traders to pre-set trading rates, or to modify trading rates, to a predetermined time or date. The trader may also modify the system settings while the deal is open.<br />
<h3>Customer Service and Secure Service Options at Easy Forex:</h3>Easy Forex does make use of a dealing desk.<br />
Dedicated personalized services are available through the Easy Forex.com FX site. Personal account managers are available to all users regardless of account size, at all hours of the day or night. The customer support service functions through a real-time online chat box that is easy for all users to operate.<br />
Short Message Servicing (SMS) functions can also deliver mobile phone updates to account holders from the trading marketplace. Mobile phone alerts can include rate alerts, deal closure alerts, and limit order capture alerts. This innovative SMS feature from Easy Forex set the mobile alert standards for the rest of the FX trading industry.<br />
Another first at Easy Forex is the instant trading program that allows direct credit card use at all hours of the day or night. A state-of-the-art double layered firewall security system is coupled with a practiced authentication standards program to provide a safe credit card format. Users can use their credit cards online through this program and be assured that their privacy is safeguarded while trading through the Easy Forex site.<br />
Beginners can utilize the personal account service manager training session that will walk first-time traders through a live step-by-step trading session. There are some elaborate and resourceful training options that include the step-by-step trading session, a guided tour, FX e-books, and the handy free trade simulator that provides $50,000 virtual dollars to practice the Easy Forex system and all levels of foreign currency trading techniques.<br />
All Easy Forex.com traders enjoy the highly simplified visual trade controller program. This is a precision control instrument that allows users to handle scenarios of FX trading in a very simplified manner. Every level of user can modify stop losses, check alternate scenarios, and define the current rates to set the take-profit rates easily. The Easy Forex system strives to make all levels of traders feel comfortable during transactions.<br />
FX trading at Easy Forex does not require software downloads, or computer use from a single IP address. The entire system is a Web-based program that allows for real-time data to be displayed for the FX marketplace. Since the software is a Web-based program, foreign currency traders can access their accounts in a comprehensive manner from all methods of mobile personal technology devices that connect to the Internet.<br />
<h2>The Bottom Line:</h2>Easy Forex is an outstanding FX trading platform that offers many user-friendly options to all ability levels of foreign exchange currency traders. Newcomers are treated with respect while participating in various options in training programs, and professional or experienced traders are given the software tools necessary to outperform their past trading experiences. While nobody can guarantee profits through any trading program, the EasyForex.com site appears to have the necessary policies and resources available to offer a chance of success to users.<br />
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</script>mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-24305797851830242132010-09-25T01:43:00.000-07:002010-09-25T01:43:18.365-07:00Dukascopy<img align="right" alt="Dukascopy." src="http://www.forexblog.org/images/reviews/dukascopy.gif" /> Dukascopy is a Swiss brokerage forex house which was established primarily to serve the needs of institutional and other large-volume traders, offering both automated and anonymous trading options and one-click execution for even large orders.<br />
<span style="font-size: large;">About Dukascopy</span><br />
Founded in 1998, <a href="http://www.dukascopy.com/"><span style="color: #003366;">Dukascopy</span></a> offers direct access to the Swiss Foreign Exchange Marketplace, and offers the largest pool of spot forex liquidity for its clients. Drawing from an extensive network of banking partners, Dukascopy offers full Prime Broker capability and is committed to transparency and security in the forex industry.<br />
Dukascopy’s corporate hierarchy includes a four-member executive committee that oversees four divisions: IT and Operations; Marketing and Sales; Logistics and HR; and Finance and Risk Management.<br />
To keep things interesting and encourage transparency among its traders, Dukascopy also offers a “Trader of the Month” contest for its clients, awarding the trading account with the best performance a personal invitation to the company’s office in Geneva to receive a Swiss Luxury Watch valued at 15000 CHF. Past winners include ex-Presidents Bill Clinton (USA), Pascal Couchepin (Switzerland) and Vladimir Putin (Russia), and ex-UN Secretary Kofi Annan.<br />
<span style="font-size: large;">Key Registrations</span><br />
Dukascopy is a member of the Association Romande des Intermediaires Financiers (ARIF) and is audited by KPMG. In March 2009, the company submitted an application to obtain a Swiss banking license, adding an additional measure of security for its clients.<br />
<h3>Contact Information At A Glance</h3><ul><li>Email support: <a href="mailto:Info@dukascopy.com">Info@dukascopy.com</a> </li>
<li>Main phone: +41 (0) 22 799 48 88 or +41 (0) 22 799 48 44 </li>
<li>Fax: +41 (0) 22 799 48 80 </li>
<li>Trading desk email: <a href="mailto:RM@dukascopy.com">RM@dukascopy.com</a> </li>
<li>Trading desk phone: +41 (0) 22 799 48 38 or +41 (0) 22 799 48 48 </li>
<li>A Skype link is available at the Dukascopy site: <span class="hilite"><span style="background-color: #d3e18a;"><a href="http://www.dukascopy.com/swiss/english/about/contact/?ibref=1062">http://www</a> </span></span>.dukascopy.com/swiss/english/about/contact/?ibref=1062</li>
</ul>Dukascopy representatives are available fom Sunday 9 pm GMT till Friday 9 pm GMT in summer and from Sunday 10 pm GMT to Friday 10 pm GMT in winter.<br />
<span style="font-size: large;">Vital Trading Information About Dukascopy</span><br />
Trading platforms at Dukascopy offer access to the Swiss FX Marketplace, and are designed to react quickly under all types of market conditions. Platforms currently supported include:<br />
<ul><li>JForex Platform – recommended for traders interested in automatic trading; requires Java to operate </li>
<li>Java Platform – designed for manual trading; requires Java </li>
<li>Web platform – optimized for speedy access, this platform has low technical requirements </li>
</ul>All platforms support two modes: hedging mode, which allows different positions for the same instrument, and net mode, which displays all orders for each currency pair in one position.<br />
An MT4 platform is currently in the testing stages.<br />
<span style="font-size: large;">Minimum Deposit Amounts</span><br />
Dukascopy (Suisse) SA offers Forex trading accounts both to individuals and to institutional clients. The company’s services are optimized for institutional trading, and recommended deposit size for these accounts is 50,000 USD and up. For individuals, minimum deposit amounts vary based on the type of account, and range from $5,000 for a retail account to $1M for a VIP account, which includes extras such as a personal VIP account manager and priority in both trading support and technical support features.<br />
Currently, Dukascopy accounts support the following seven currencies: USD, CHF, EUR, GBP, JPY, CAD and AUD. Funding for accounts can be made through wire transfer, bank guarantees, and Swiss custodian banking services (segregated Swiss bank account). The minimum deposit for the Swiss custodian account is 250,000 USD.<br />
<h3>Account Set-Up</h3>Setting up an account is relatively simple using the company’s online form. Registration requirements vary for individual and legal entity accounts. Both require filling in the trading agreement form and the form to request an account opening, a certified or notarized copy of an ID or passport and a copy of a utility bill showing proof of residence. Legal entity accounts must also provide a full set of corporate documents and the corporate resolution authorizing the account to be opened. For both individual and legal entity accounts, all forms must be mailed to Dukascopy for review and approval. Once approved, an account number will be provided and an initial deposit of at least $5,000 USD or equivalent in other currencies must be made via wire transfer. Once the account is funded, login information and password will be provided.<br />
<span style="font-size: large;">Demo Accounts</span><br />
Dukascopy offers a 14-day demo account that allows registrants to trade using the same functionalities and same data feed as are offered by the Live SWFX – Swiss FX Marketplace. The demo is free to use for a 14-day trial and requires filling out a simple, online form. Once registered, demo account users will have access to all of the same features as regular account traders, offering novices an ideal way to familiarize themselves with the account options. Dukascopy recommends use of its demo account for all prospective clients, especially individual accountholders.<br />
<span style="font-size: large;">Dealing Desk</span><br />
There is no dealing desk execution at Dukascopy.<br />
<span style="font-size: large;">Trailing Stops</span><br />
Dukascopy’s platform supports trailing stops on both stop loss and entry stop orders, with the minimum trailing step parameter set to 10 pips. The stop can be easily adjusted from the edit menu of the client account, for both types of orders.<br />
<h3>Trading Spreads</h3>In its continuing effort to improve transparency among traders and throughout its trading practices, spreads are shown at interbank prices with no mark-up. Instead, Dukascopy charges a small commission per trade, which is based on the traded volume and the account size. A table describing commission rates for various trading volumes and account sizes (in USD) can be seen at Dukascopy’s website, here: <span class="hilite"><span style="background-color: #d3e18a;">http://www</span></span>.dukascopy.com/swiss/english/forex/forex_trading_accounts/commission-policy/?ibref=1062 .<br />
<h3>Leverage-margin</h3>During regular trading hours, Dukascopy supports a margin limit of 1:100; on weekends and other non-market days, the limit is set at 1:30. The account leverage limits can be adjusted to different levels when the account is opened. The minimum margin required for any given trading level depends on the leverage ratio, as well as the current market prices and currency pair being traded. A table describing various leverage-margin scenarios is available at <span class="hilite"><span style="background-color: #d3e18a;"><a href="http://www.dukascopy.com/swiss/english/forex/forex_trading_accounts/margin/?ibref=1062">http://www</a>.</span></span>.dukascopy.com/swiss/english/forex/forex_trading_accounts/margin/?ibref=1062<br />
<span style="font-size: large;">Bottom Line</span><br />
Geared for larger, institutional accounts, Dukascopy requires larger minimum deposit amounts from individual traders than many other forex trading service providers, making it less than ideal for traders seeking mini or micro accounts. However, it also offers advantages missing in many of its competitors, including an absence of dealing desk executions, anonymous trading and the ability to create an automated trading strategy. For investors with larger sums to invest, and for investors looking to trade anonymously, this company could be a good choice.<br />
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</script>mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-69503615996031384612010-09-25T01:29:00.000-07:002010-09-25T01:29:47.551-07:00CMS ForexTrading on the foreign exchange market, which is also known as the forex market, has become more popular than ever. Whether you’ve been trading on the forex market for some time – or would like to start doing so – one of the first decisions you’ll have to make is which forex broker to use. There are many different options, and selecting an experienced and reputable broker is vital. In this review, we will take a closer look at one of the most well-known forex brokers today: Capital Market Services, LLC – or <a href="http://www.cmsfx.com/"><span style="color: #003366;">CMS Forex</span></a>.<br />
<span style="font-size: large;">About CMS Forex</span><br />
When it was founded back in 1999, CMS Forex was a rather humble operation. The combined efforts of a group of software developers, currency trade brokers and professional traders, CMS Forex was built from the ground up. Slowly but steadily, it began to build up its reputation in the industry and began growing by leaps and bounds over the following ten years. Today, CMS Forex is recognized as one of the most reputable forex traders in the world; its main headquarters are located in the Empire State Building in New York City, New York, and much of its reputation revolves around its signature trading software, VT Trader.<br />
In addition to its New York headquarters, CMS Forex has several branches that span the globe, allowing it to better serve the private, retail and institutional clients that it has developed around the world during the more than ten years that it’s been in business. CMS Forex’s locations include CMS Forex UK in London, CMS Forex Japan in Tokyo, Capital Market Services International in Bermuda and additional locations in Boston, Saint Petersburg and Shanghai.<br />
<span style="font-size: large;">Key Registrations</span><br />
CMS Forex is registered with the:<br />
<ul><li>National Futures Association (NFA) </li>
<li>Futures Commission Merchant (FCM) </li>
<li>Financial Services Agency (FSA) of Japan </li>
<li>Commodities Futures Trading Commission (CFTC) of the United States </li>
</ul><h3><span style="font-size: large;">Contact Information At A Glance</span></h3>Should you choose to do business with CMS Forex, you’ll want to keep all of its relevant contact information handy in case issues, concerns or questions arise. The basics are as follows:<br />
<ul><li>Toll-Free Phone Number: 1 (866) 51-CMSFX or 1 (866) 512-6739 </li>
<li>Local Phone Number: 1 (212) 563-2100 </li>
<li>Fax Number: 1 (212) 563-4994 </li>
<li>Direct Dealing Desk: 1 (212) 563-6454 or 1 (212) 563-5151 </li>
<li>Email Support: <a href="mailto:customersupport@cmsfx.com">customersupport@cmsfx.com</a> </li>
<li>Online Support/Live Chat: <a href="http://www.cmsfx.com/en/about-cms/contact-us">www.cmsfx.com/en/about-cms/contact-us</a> </li>
</ul><h2>Vital Trading Information About CMS Forex</h2>CMS Forex’s operations revolve around its signature trading software, which is known as VT Trader. VT Trader is a user friendly and intuitive program that allows beginners and more experienced forex traders alike to get involved with ease. The software can be downloaded from the CMS Forex website, and is available as a mobile app as well. With a customizable interface, chart-based trading, a bevy of risk management tools, custom alerts, 100+ technical indicators and many other key features, CMS Forex’s VT Trader trading software simplifies the experience of successfully trading on the foreign exchange market.<br />
There are many other important things to know about trading on the forex market with CMS Forex. These points are highlighted below for your convenience.<br />
<h3>Minimum Deposit Amounts</h3>At $25, CMS Forex’s minimum deposit amount for opening an account is competitively low. This greatly reduces the uncertainty that many people have about getting involved in foreign exchange trading and makes the forex market accessible to a much larger range of people.<br />
<h3>Account Set-Up</h3>The process of opening up an account with CMS Forex is streamlined and easy. An online application form can be filled out and submitted in minutes; from there, it generally takes a short period of time to get approved. Upon approval, you will receive an email from CMS Forex customer support which will prompt you to complete the process.<br />
<h3>Demo Accounts</h3>Like many other large, reputable forex brokers, CMS Forex allows interested persons to open up a demo or practice account. The only difference between using a practice account and a real account with CMS Forex is that with a practice account, you aren’t trading with real capital. Instead, you can learn the ropes of the VT Trader software and familiarize yourself with CMS Forex without any risk whatsoever. Links on the main website allow you to sign up for a practice account.<br />
<h3>Dealing Desk</h3>CMS Forex boasts a topnotch dealing desk that always works with customers’ best interests at heart. For instance, should the market move against you, the CMS Forex dealing desk will often execute your order at your original price. With phone-based and online accessibility, the CMS Forex dealing desk can meet the needs of virtually any foreign exchange market trader, creating a more robust and strategic experience.<br />
<h3>Leverage Limits</h3>Leverage limits vary from forex broker to forex broker. In the case of CMS Forex, a leverage limit of 100 to 1 is used. For example, in order to take on a $200,000 contract or lot, a minimum margin of $2,000 is necessary. For major currency pairs – like USD/JPY and EUR/USD – a 1% margin is used for a maximum leverage of 100:1; for minor currency pairs – like USD/HKD and ZAR/JPY – a 4% margin is used for a maximum leverage of 25:1.<br />
<h3>Trailing Stops</h3>CMS Forex offers trailing stops to its traders as a part of its suite of risk management tools.<br />
<h3>Trading Spreads</h3>No commissions are charged by CMS Forex. Instead, it makes much of its revenues from Bid/Ask spreads. For the most popular currency pairs – USD/JPY and EUR/USD – CMS Forex offers 2 Pip fixed spreads. Fixed spreads are also used for other popular currency pairs; for instance, USD/CHF has a 5 Pip fixed spread, while NZD/USD has a 4 Pip fixed spread.<br />
Variable spreads are available on non-major currency pairs. EUR/CHF, for example, has spreads as low as three.<br />
<h2>The Bottom Line</h2>The conventional wisdom seems to be that CMS Forex is a reputable and reliable forex broker. Some rumblings that this broker trades against its customers are largely overshadowed by the glowing and positive reviews that can be found online. For its easy-to-use software, topnotch customer support and trader-friendly features, CMS Forex is one of the best foreign exchange brokers around.<br />
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</script>mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-83669345149026909912010-09-25T01:18:00.000-07:002010-09-25T01:18:15.012-07:00CMC ForexBefore you begin using a forex broker, you should get as much information about the company as possible. You want to be confident that the company you chose fits your needs and will offer exactly the kind of service that suits you. <a href="http://www.cmcmarkets.com/"><span style="color: #003366;">CMC Group</span></a> is one of the most significant forex brokers in the UK, and they are worthy of some close consideration.<br />
<span style="font-size: large;">About CMC Group</span><br />
In 1989, CMC Group was founded by Peter Cruddas in the UK as “Currency Management Corporation”—a Foreign Exchange market maker. In 1996, the company offered one of the earliest real-time forex trading platforms on the internet. CMC Group also began offering Contracts for Difference (CFDs) in 2000 and online spread betting in 2001. CMC largely defined how these products have been delivered to the retail market by offering them on the internet. CFDs and online spread betting are the core of CMC Group’s business today.<br />
Plans for an IPO were scuttled in 2006 because of market conditions, but Goldman Sachs bought a 10% stake in the company in 2007. Profits declined in 2009 with the Global Financial Crisis, resulting in the closing of seven offices. CDC Group currently operates offices around the world, but not in the US due to regulations on CFDs and spread betting. They continue to be one of the largest global providers of these products with a little over 1,000 employees and annual revenue of £193 million. Though they are based in London, with the acquisition of the stock broker “Andrew West” in 2008, the company also conducts significant business in Australia. As members of that stock exchange (ASX), CMC allows Australians to purchase ASX-listed equities.<br />
<span style="font-size: large;">Key Registrations</span><br />
<ul><li>CMC is registered with the Austral</li>
<li>CMC is regulated by the Financial Services Authority in the UK (FSA). </li>
</ul><h3><span style="font-size: large;">Contact Information At A Glance</span></h3>The best way to find out more information or apply for an account is always through their web-site, because it is unusually helpful and clear.<br />
<ul><li>Phone: +44 (0)20 7170 8207 </li>
<li>Fax: +44 (0)20 7170 849</li>
<li>E-mail: <a href="mailto:info@cmcmarkets.co.uk">info@cmcmarkets.co.uk</a>. </li>
<li> Web-site: <span class="hilite"><span style="background-color: #d3e18a;"><a href="http://www.cmcmarkets.co.uk/">http://www</a></span></span>.cmcmarkets.co.uk</li>
</ul><span style="font-size: x-large;">Trading with CMC</span><br />
<span style="font-size: large;">Trading Desk</span><br />
CMC uses a completely online interface in place of a trading desk. The company’s own platform, Marketmaker, is a completely online and real-time system that makes the Forex trading experience as efficient as possible. Marketmaker mobile is a more recent innovation which allows customers to manage accounts from their mobile devices. Because the entire process is electronic and automated, CMC Group is able to cut delays and decrease overhead.<br />
<span style="font-size: large;">Trailing Stops</span><br />
They do not offer stop orders, limit orders, or trailing stops, but they do have a free demo account.<br />
<span style="font-size: large;">Minimum Deposits</span><br />
The minimum deposit is $2,000.<br />
<span style="font-size: large;">Account Management and Trading Spreads</span><br />
CMC allows the customer to determine their own amount of leveraging, allowing as little as £1 per point on all of their financial instruments. CMC also charges no commission or account management fees on spread betting. The company prides themselves on having some of the tightest spreads in the market. Their spreads include a huge range of commodities and international markets. They also provide very competitive margin rates, ranging from 1% to 15%.<br />
<h3><span style="font-size: large;">Who can use CMC?</span></h3>The company is regulated by the FSA and provides accounts to individuals or corporations. Spread betting accounts are available only to individuals in the UK and Ireland, while anyone can open a CFD account. With offices in more than a dozen countries throughout the world and translation into all of these languages, CMC provides access for many customers and also provides access to many international markets. In addition, retail partners can use CMC services as the core of their business through white-labeling. This has been a very successful part of CMC Group’s core business.<br />
<span style="font-size: x-large;">Advantages of Using CMC</span><br />
<span style="font-size: large;">Free Online Education</span><br />
Another significant value is the free online education courses that CMC offers all of their customers. These range from advanced training schedules for experienced traders, to simple education for people that are new to spread betting. Anyone that registers for an account has access to this impressive library of information.<br />
<h3>Technology</h3>CMC’s greatest asset may be in its technology. As one of the first to provide this kind of internet trading, the company has been committed to providing cutting-edge innovation from the beginning. Marketmaker is a well-rounded suite of trading software that has won a number of prestigious awards. CMC continues to make major investments in their proprietary trading platform and mobile software, and the result will be a long-term asset for them and their customers.<br />
<h3>Simplicity</h3>One other intangible strength has probably contributed to making CMC successful—they have made the entire trading process intuitive and accessible to inexperienced traders. The CMC web-site is well-organized and easy for anyone to use. Their explanations and tools are simple and visually clear. They answer basic questions that the uneducated consumer would certainly ask and they provide extensive information on all of their financial products. All in all, they work to make CFDs and spread betting as unintimidating as possible.<br />
<h3><h3><span style="font-size: large;">Sophistication</span></h3><span style="font-size: small;">But this is not at the sacrifice of advanced information for the experienced trader. In fact, CMC works to provide both simple and advanced information so that either kind of individual will benefit from their services. As yet another aspect of their technological strength, CMC offers free services to advanced traders, such as risk-management tools, research tools, and sophisticated charting. Most of these tools are built in as part of CMC’s free software platform.</span><br />
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<span style="font-size: small;"> </span><span style="font-size: x-large;">Disadvantages of Using CMC</span><br />
Risk to Inexperienced Users<br />
<span style="font-size: small;">On the other hand, the advanced flexibility and leveraging possibilities of CMC’s platform could also combine with their “anybody can use our product” simplicity as a liability. If inexperienced consumers try their hand at trading and take advantage of the heavy leveraging, they could find themselves in more trouble than they understand. Still, this is an unavoidable danger of providing cutting-edge, sophisticated financial products while also making trading available to the retail market.</span><br />
<h3>Limitations in the US</h3><span style="font-size: small;">Unfortunately, one of the greatest weaknesses of the company is the fact that they do not have offices in the US and that only those in the UK or Ireland can open spread betting accounts.</span><br />
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Establishing an Account<br />
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<span style="font-size: small;">The application process is delightfully easy, with complete application online, nothing to print and nothing to send in. It only takes a short time to fill out the required online forms and establish an account. Payment can be made to the account via credit and debit cards, bank transfer, or by sending a check.</span><br />
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<span style="font-size: large;">Summary</span><br />
<span style="font-size: small;">All in all, this is an excellent company that reaches out to customers on all levels of skill and experience. Not only have they made huge investments in their platform, but they have also made a complex process seem simple by providing all the information someone might need to use their products. American consumers interested in this type of trading can only wish that the full range of CMC Group’s products were available in the US.</span><br />
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</script></h3>mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-37108638199970507662010-09-13T01:46:00.000-07:002010-09-13T01:46:56.081-07:00Archive for the 'Canadian Dollar' Category<span style="color: #666666; font-size: large;">CAD: Steady as She Goes</span><br />
<div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><a href="http://2.bp.blogspot.com/_fFW1BzLbf0A/TI3iA-4b1EI/AAAAAAAAAD8/rBa01zPksxI/s1600/1y1.png" imageanchor="1" style="clear: right; cssfloat: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" ox="true" src="http://2.bp.blogspot.com/_fFW1BzLbf0A/TI3iA-4b1EI/AAAAAAAAAD8/rBa01zPksxI/s320/1y1.png" /></a>The Canadian Dollar was supposed to be one of the “hot” currencies of 2010. Given that it’s now exactly where it started the year, I think it’s safe to say that this isn’t the case. On the one hand, it would seem that the markets are still confused about how much the CAD should be worth, as Adam recently pointed out. An alternative interpretation is that investors believe the Loonie should trade near parity with the US Dollar; it has hovered just above that mark since breaching it in April.The Canadian Dollar has benefited from strong fundamentals, especially compared to the US. Inflation is low and the economy is stable. “The International Monetary Fund (IMF) recently said that Canada is likely to be the first of the seven major industrialized democracies to return to a budgetary surplus status by 2015.” 2010 GDP growth is projected at 3.3%, compared to around 2.5% in the US.</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><a href="http://2.bp.blogspot.com/_fFW1BzLbf0A/TI3iaXdNGwI/AAAAAAAAAEE/ABTiMa_Dexo/s1600/Canada-GDP-Growth-Rate-Chart-2006-2010.png" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" ox="true" src="http://2.bp.blogspot.com/_fFW1BzLbf0A/TI3iaXdNGwI/AAAAAAAAAEE/ABTiMa_Dexo/s320/Canada-GDP-Growth-Rate-Chart-2006-2010.png" /></a></div><br />
For this reason, “Pacific Investment Management Co. founder Bill Gross said he favors Canada…he’s ‘in awe’ of countries such as Canada that have a low debt-to-gross-domestic- product ratio and solvent financial institutions. ‘North of the border’ has become a ‘preferable destination’ to what he sees in the U.S.” As a result, analysts have started to look beyond commodities, historically seen as the cornerstone of Canada’s economy. When the price of oil collapsed in May, the Loonie hardly budged. Given that Canada’s balance of trade is negative in spite of its commodity exports, maybe in focus is justified.<br />
<div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><a href="http://4.bp.blogspot.com/_fFW1BzLbf0A/TI3jaHAQZvI/AAAAAAAAAEU/xXwuj83xa5k/s1600/z1.png" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" ox="true" src="http://4.bp.blogspot.com/_fFW1BzLbf0A/TI3jaHAQZvI/AAAAAAAAAEU/xXwuj83xa5k/s320/z1.png" /></a></div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">The Loonie is also benefiting from a positive interest rate differential with the US. Thanks to two consecutive rate hikes by the Bank of Canada (BOC) – which was the first G7 Central bank to tighten – Canada’s benchmark rate now exceeds the Federal Funds Rate by .5%. If the BOC fulfills expectations and hikes rates again at its meeting on September 8, this differential will widen further. In fact, it could continue expanding well into 2011, since the BOC is well ahead of the Fed in its monetary policy cycle. Here, again, the contrast with the US is self-evident: “The Canadian central bank has been raising interest rates, and has signaled that it will continue to raise interest rates. And with the Fed’s decision today reaffirming its dovish position, the interest rate differential will continue to favor increasingly Canada, and higher interest rates in Canada will continue to favor Canadian dollar strength.”</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><a href="http://1.bp.blogspot.com/_fFW1BzLbf0A/TI3jHd00NhI/AAAAAAAAAEM/KdfrTdr16yk/s1600/Bank-of-Canada-2000-2010-Interest-Rate-Hike-Forecast1.jpg" imageanchor="1" style="clear: right; cssfloat: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" ox="true" src="http://1.bp.blogspot.com/_fFW1BzLbf0A/TI3jHd00NhI/AAAAAAAAAEM/KdfrTdr16yk/s320/Bank-of-Canada-2000-2010-Interest-Rate-Hike-Forecast1.jpg" /></a></div>Throughout the rest of the summer, the Loonie will likely remain rangebound. Most traders are on vacation and trading volume is low. Besides, risk appetite is currently weak. When the markets return to full swing in September, I expect the Loonie will experience in a surge in volatility. In fact, investors are already starting to adjust their positions, with the most recent Commitment of Traders report showing an increase in Net Longs, bringing the total to $4.2 Billion.<br />
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There is certainly a basis for predicting continued strength, but I think much depends on how commodity prices perform. As I pointed out above, the Loonie remains somewhat decoupled from commodities. That it nonetheless got a boost from strong wheat prices and the $40 Billion takeover bid for Potash Corp by mining giant BHP Biliton shows that investors still view Canada as a resource economy. If the global economy avoids a double-dip recession, commodities prices will probably recover and the Loonie will probably rise slowly towards parity. On the flip-side, the Loonie would be one of the big losers of a global slide back into recession.<br />
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<div class="separator" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; clear: both; text-align: center;"></div>mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-59013955530161449372010-08-30T01:52:00.000-07:002010-08-30T01:52:18.843-07:00CitiFX ProAs forex trading continues to gain popularity and more brokers enter the market, decisions for consumers only grow harder. You want to know every possibility before settling into a specific brokerage. But the need for information is not over once you’ve made that decision. Perhaps you should consider switching. Or perhaps there are features and possibilities you aren’t fully using. This review will give you a better understanding of one of the larger forex options—CitiFX pro.<br />
<span style="font-size: large;">About CitiFX Pro</span><br />
Quite simply, CitiFX Pro is part of Citigroup—the huge conglomerate that began in 1812 and became one of the largest American banks by 1895. Citigroup began offering online forex trading in 2007, by joining forces with Saxo Bank and offering their software as an adaptation of Saxo Trader. CitiFX Pro is still supported by Saxo Bank in conjunction with Citi. CitiFX Pro added mobile trading in 2009. Compared to some of the other forex traders, CitiFX Pro is very much a newcomer. But the size and history of Citigroup more than make up for the newness of CitiFX Pro.<br />
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Key Registrations<br />
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As a bank, Citi is in its own category. It is not always clear what registrations CitiFX Pro uses through its connection to Citi, but quite feasibly it could use all of Citigroup’s registrations, which are practically universal. This is one reason that CitiFX Pro can offer more currency pairs than its competitors. <br />
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Contact Information At A Glance<br />
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Customer service is one of the major values most users of CitiFX Pro have enjoyed. CitiFX Pro can offer this kind of value because of its size and history. For many, this could be a legitimately determining factor in the decision. It would be helpful, however, if Citi offered live chat.<br />
<div></div><div></div><ul><li><div style="text-align: justify;">Toll-Free Phone Number: 1 (877) 265-7781 </div></li>
<li><div style="text-align: justify;">Alternative Phone: 1 (877) 397-7670 </div></li>
<li><div style="text-align: justify;">Email Support: <a href="mailto:sales@citifxpro.com">sales@citifxpro.com</a> </div></li>
</ul>Vital Trading Information About CitiFX Pro<br />
CitiFX Pro allows trading in more than 130 currency pairs, including many emerging markets that other brokerages do not allow.<br />
CitiFX Pro uses a proprietary software—CitiFX Pro Desktop, Web or Mobile. This platform has free streaming news and data. You will also find one-click execution and a wide range of other execution tools. The CitiFX Pro platform also includes broad charting capabilities.<br />
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CitiFX Pro also offers mobile trading on cell phones or other devices. One great feature—the software is ported to the Blackberry and iPhone. This allows traders to monitor their positions in real-time, 24-hour streaming. It also offers electronic alerts if margin usage approaches key levels.<br />
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Many users find the CitiFX Pro software to be unintuitive and challenging to use. In general, this software is not the best choice for beginning forex traders and is designed with the high-end trader in mind.<br />
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Minimum Deposit Amounts<br />
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CitiFX Pro may have one of the highest opening deposit requirements—$10,000. This is just one other way that CitiFX Pro is clearly intended for advanced traders and institutions. You can make this deposit by wire.<br />
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One advantage comes from the fact that Citi is also a bank. All dollar amounts held in CitiFX Pro accounts are FDIC insured up to the normal $250,000. This is a very unusual feature in forex brokerages.<br />
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Platformmandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-832808843729236772010-08-30T01:36:00.000-07:002010-08-30T01:39:21.518-07:00AVA FXThere are many foreign exchange market brokers to choose from, and they come in many different sizes and configurations. Bigger isn’t necessarily better, though, and Ava FX is a modestly-sized broker that brings a lot of flexibility and different features to the table. Is Ava FX the right forex broker for you, though? To get a better idea about whether or not to trade with Ava FX, check out our comprehensive review below.<br />
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<span style="color: #999999; font-size: large;">About Ava FX</span><br />
In terms of longevity, Ava FX has not been around for a very long time. It was founded in 2006, but has already managed to secure more than 100,000 customers during its brief history. Ava FX is incorporated in Ireland, and its operations revolve around its unique software, Metatrader 4. Although Ava FX is small when compared to many other foreign exchange market brokers, its reputation is enhanced by the fact that it is backed by a major financial institution. That financial institution has been given an “A+” rating by an S & P-affiliated rating agency.<br />
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Ava FX doesn’t boast a large number of branches spread across the globe. Instead, it is made up of two basic entities: the Ava Group and Ava Capital Markets Ltd. Of course, location is not of primary concern when it comes to trading on the foreign exchange market online, and Ava FX makes up for its small size by offering a high level of customer service and support.<br />
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<span style="color: #999999; font-size: large;">Key Registrations</span><br />
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Unlike many of the top forex brokers doing business today, Ava FX does not appear to have a large number of key registrations. Instead, it is listed as “compliant” with the Markets in Financial Instruments Directive, or MiFiD, and is regulated by the Irish Financial Regulator.<br />
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<span style="background-color: white;"><span style="color: #666666;"><span style="font-size: large;">Contact Information At A Glance</span></span></span><br />
<span style="background-color: white;"><span style="color: #666666;">If you opt to sign up with Ava FX to conduct your forex trading, you will need to keep all of its pertinent contact information handy. That way, if an issue arises you will be able to quickly and easily get the help that you need. Basic contact information for Ava FX is as follows:</span></span><br />
<span style="color: #666666; font-size: large;">Account Set-Up</span><br />
By applying online, you can set up an account with Ava FX in a relatively short amount of time. The application itself typically only takes three to five minutes to complete. From there, it takes another few days to have your application approved. An email is sent when your account is all set and ready to go; an initial deposit is, of course, required.<br />
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<span style="color: #666666; font-size: large;">Demo Accounts</span><br />
<span style="color: #666666; font-size: large;"><span style="color: black; font-size: x-small;">For up to 21 days, you can sign up for a free practice account with Ava FX. With your free account, you will be given a balance of $100,000 in fake currency so that you can get a real sense for how Ava FX and the AvaTrader software works. For best results, traders are advised to use their practice accounts for the full trial period in order to see how fluctuations and other events affect their positions.</span></span><br />
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Dealing Desk<br />
<span style="font-size: x-small;"><span style="color: black;">There is no express or implied guarantees or promises made by Ava FX regarding dealing desks and trading against its customers. For that reason, traders are advised to participate at their own risk. However, this advice holds true for all foreign exchange market brokers and in no way suggests that</span><span style="color: black;"> Ava FX is inferior</span>.</span><br />
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Leverage Limits<br />
<span style="color: black; font-size: x-small;">Leverage limits of up to 200:1, or up to 200 times the current equity value, are par for the course with Ava FX. With a $500 deposit, then, you could open trades of up to $100,000 with this broker.</span><br />
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Trailing Stops<br />
<span style="color: black; font-size: x-small;">Ava FX does support the use of trailing stops, and they are easy to set up using AvaTrader. On an existing trade, traders simply need to edit the trailing stops option within the “Open Positions” window. Otherwise, you just need to enter a stop order, click on the “Trailing Stop” option and specify the number of pips from high or low that you desire.</span><br />
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<span style="font-size: x-small;"><span style="font-size: large;">Trading Spreads</span></span><br />
<span style="font-size: x-small;"><span style="color: black;">During normal market conditions, Ava FX offers spreads of three to four pips on major currency combinations. For example, the spread for EUR/USD is typically three pips; the spread for USD/CAD is typically five pips.</span></span><br />
<ul><li>Toll-Free Phone Number: 1 (888) 541-3720 </li>
<li>Local Phone Number: 1 (212) 941-9609</li>
<li>Fax Number: 1 (646) 335-0333 </li>
<li>Trading Desk: <a href="mailto:trading@avafx.com">trading@avafx.com</a> </li>
<li>Email Support: <a href="mailto:customer@avafx.com">customer@avafx.com</a> </li>
<li>Online Support/Live Chat: <a href="http://www.avafx.com/support/Online">www.avafx.com/support/Online</a> </li>
</ul><div align="justify"><span style="color: #999999; font-size: large;">Vital Trading Information About Ava FX</span></div><div align="justify">Trading on Ava FX centers around its custom trading platform, AvaTrader. Like many other online foreign exchange programs, Ava FX’s AvaTrader features a user-friendly interface and is free for current Ava FX customers to download and use. Live streaming prices allow traders to quickly and easily make the moves they need to make. Multiple worksheets can be opened at once, increasing the ease-of-use and flexibility of the AvaTrader program. One-click trading, easy-to-read charts, simple lists for open positions and orders, user-friendly dealing rates tables – and many other great features – are all available on the AvaTrader platform.</div><br />
Ava FX also offers mobile trading to those who wish to manage their foreign exchange trades via their cell phone or other mobile device.<br />
There’s more to Ava FX than its software, which is why we take a closer look at several key characteristics of the service below.<br />
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<span style="color: #666666;"><span style="font-size: large;">Minimum Deposit Amounts</span></span><br />
At $100, Ava FX has one of the higher minimum deposit amounts among top foreign exchange market brokers. Still, it is more than enough to get the ball rolling and those funds will be used in short order to engage in foreign exchange trading.mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-62929642003252173952010-08-28T01:25:00.000-07:002010-08-28T01:25:23.023-07:00Archive for the 'British Pound' Category<span style="color: #999999; font-family: Georgia, "Times New Roman", serif; font-size: large;">Archive for the 'British Pound' Category</span><br />
Pound Rally Runs out of Steam<br />
<div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><a href="http://4.bp.blogspot.com/_fFW1BzLbf0A/THjFUsqjCjI/AAAAAAAAACk/OpjWfojO7PA/s1600/British-Pound-Euro-SP-500-Correlation.png" imageanchor="1" style="clear: right; cssfloat: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" ox="true" src="http://4.bp.blogspot.com/_fFW1BzLbf0A/THjFUsqjCjI/AAAAAAAAACk/OpjWfojO7PA/s320/British-Pound-Euro-SP-500-Correlation.png" /></a>The rally in the Pound, which lifted it 10% from trough to peak, appears to be fizzling. The Pound is already down 3% in the last two weeks, and is trending downward. It now stands at a four-week low against the Dollar. Looking back at the Pound’s two-month rise, it’s not hard to understand why it was unsustainable. You can see from the charts below that there was a strong correlation with the Euro and the S&P 500 over the same period of time. This suggests that the Pound rally was less a product of changing fundamentals and more due to a sudden decrease in risk aversion.</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><br />
</div>By no coincidence the rally in equities, the Euro, and a handful of other proxy vehicles for risk, all came to and end at the same time as the Pound. In a nutshell, the markets are back to focusing on fundamentals. Namely, the risk of a double-dip recession, combined with a lack of resolution in the Eurozone debt crisis is causing investors to think twice about making bets that entail any kind of risk.<br />
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In this regard, the Pound is especially vulnerable. On the economic front, the UK economy only grew by 1.1% in the second quarter, with economists predicting only modest growth for the year. According to an economist for the Bank of England, “It would be ‘foolish’ to rule out a renewed downturn.” Evidently, his bosses agree: “The Bank of England last week said growth will be weaker than it forecast in May, citing “continuing fiscal consolidation and the persistence of tight credit conditions.”According to a recent poll, almost half of British households are pessimistic about the country’s economic prospects in the near-term: “The proportion of pessimists is marginally lower than in July, but is higher than in any other month since March last year.”<br />
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<div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">Ironically, the efforts of the British government to curb spending and cut the deficit are perceived as making matters worse. Since these measures won’t be offset by lowered taxes, they will directly lead to lower economic growth. Given that both the Pound and UK bond prices are rising (implying an increased risk of default), I think this reinforces the point I made last week about the markets not caring at all in this economic climate about increasing national debt.</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">The icing on the cake is inflation. A British think-tank made headlines by predicting that the UK economy will emerge from recession next year, “But once recovery is under way, he thinks, then the Bank of England’s quantitative easing scheme, which pumped £200 billion into the economy in the wake of the credit crunch, will have terrible consequences.” Specifically, the think-tank is forecasting inflation of 10% and a benchmark interest rate of 10%.</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><a href="http://1.bp.blogspot.com/_fFW1BzLbf0A/THjFw4I3GRI/AAAAAAAAACs/P2qCjPbTYy8/s1600/British-Pound-September-2011-Futures.jpg" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" ox="true" src="http://1.bp.blogspot.com/_fFW1BzLbf0A/THjFw4I3GRI/AAAAAAAAACs/P2qCjPbTYy8/s320/British-Pound-September-2011-Futures.jpg" /></a>For now, this remains a distant prospect, and analysts are focusing on the fact that the economy will probably re-enter recession before it can officially exit from it. As for the Pound, forecasts are not optimistic: “Bears in a Bloomberg survey of strategists outnumber bulls 29 to 12, while TD Securities in Toronto, the most-accurate forecaster in the six quarters ended June 30, has the lowest estimate, predicting sterling will depreciate 15 percent versus the dollar by year-end.” According to the most recent Commitments of Traders report, institutional investors were still net long the Pound as of August 10. Futures prices, meanwhile, have moved in lockstep with spot prices, which suggests that futures traders are still waiting for more data before they weigh in on the Pound.</div><br />
Personally, I’m having a tough time coming up with a prediction. I tend to agree with the characterization of “the foreign exchange markets post-crisis as a beauty parade with ugly contestants.” In other words, all of the major currencies are currently plagued by poor fundamentals. It’s hard to say that the Pound is in better or worse shape than the Dollar or the Euro. Still, given the way that markets have been trading, a return to (global) recession would not be kind to the Pound.mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-55784483602283673462010-08-28T00:43:00.000-07:002010-08-28T00:43:12.047-07:00CAD: Steady as She Goes<div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><a href="http://3.bp.blogspot.com/_fFW1BzLbf0A/THi7RSsvikI/AAAAAAAAABs/hYBzfKPCcM8/s1600/1y1.png" imageanchor="1" style="clear: right; cssfloat: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" ox="true" src="http://3.bp.blogspot.com/_fFW1BzLbf0A/THi7RSsvikI/AAAAAAAAABs/hYBzfKPCcM8/s320/1y1.png" /></a>The Canadian Dollar was supposed to be one of the “hot” currencies of 2010. Given that it’s now exactly where it started the year, I think it’s safe to say that this isn’t the case. On the one hand, it would seem that the markets are still confused about how much the CAD should be worth, as Adam recently pointed out. An alternative interpretation is that investors believe the Loonie should trade near parity with the US Dollar; it has hovered just above that mark since breaching it in April.</div></div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">The Canadian Dollar has benefited from strong fundamentals, especially compared to the US. Inflation is low and the economy is stable. “The International Monetary Fund (IMF) recently said that Canada is likely to be the first of the seven major industrialized democracies to return to a budgetary surplus status by 2015.” 2010 GDP growth is projected at 3.3%, compared to around 2.5% in the US.</div><br />
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<div class="separator" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; clear: both; text-align: center;"><a href="http://2.bp.blogspot.com/_fFW1BzLbf0A/THi7nD2zXkI/AAAAAAAAAB0/rvp-EAPQ1Lk/s1600/Canada-GDP-Growth-Rate-Chart-2006-2010.png" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" ox="true" src="http://2.bp.blogspot.com/_fFW1BzLbf0A/THi7nD2zXkI/AAAAAAAAAB0/rvp-EAPQ1Lk/s320/Canada-GDP-Growth-Rate-Chart-2006-2010.png" /></a></div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">For this reason, “Pacific Investment Management Co. founder Bill Gross said he favors Canada…he’s ‘in awe’ of countries such as Canada that have a low debt-to-gross-domestic- product ratio and solvent financial institutions. ‘North of the border’ has become a ‘preferable destination’ to what he sees in the U.S.” As a result, analysts have started to look beyond commodities, historically seen as the cornerstone of Canada’s economy. When the price of oil collapsed in May, the Loonie hardly budged. Given that Canada’s balance of trade is negative in spite of its commodity exports, maybe in focus is justified. </div></div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><a href="http://3.bp.blogspot.com/_fFW1BzLbf0A/THi8P4MpvXI/AAAAAAAAAB8/lc4cgD1vUvk/s1600/z1.png" imageanchor="1" style="clear: right; cssfloat: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" ox="true" src="http://3.bp.blogspot.com/_fFW1BzLbf0A/THi8P4MpvXI/AAAAAAAAAB8/lc4cgD1vUvk/s320/z1.png" /></a></div><br />
<div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">The Loonie is also benefiting from a positive interest rate differential with the US. Thanks to two consecutive rate hikes by the Bank of Canada (BOC) – which was the first G7 Central bank to tighten – Canada’s benchmark rate now exceeds the Federal Funds Rate by .5%. If the BOC fulfills expectations and hikes rates again at its meeting on September 8, this differential will widen further. In fact, it could continue expanding well into 2011, since the BOC is well ahead of the Fed in its monetary policy cycle. Here, again, the contrast with the US is self-evident: “The Canadian central bank has been raising interest rates, and has signaled that it will continue to raise interest rates. And with the Fed’s decision today reaffirming its dovish position, the interest rate differential will continue to favor increasingly Canada, and higher interest rates in Canada will continue to favor Canadian dollar strength.”</div></div><br />
<div class="separator" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; clear: both; text-align: center;"><a href="http://3.bp.blogspot.com/_fFW1BzLbf0A/THi9due-_8I/AAAAAAAAACM/WofxGxwGJe0/s1600/Bank-of-Canada-2000-2010-Interest-Rate-Hike-Forecast1.jpg" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" ox="true" src="http://3.bp.blogspot.com/_fFW1BzLbf0A/THi9due-_8I/AAAAAAAAACM/WofxGxwGJe0/s320/Bank-of-Canada-2000-2010-Interest-Rate-Hike-Forecast1.jpg" /></a>Throughout the rest of the summer, the Loonie will likely remain rangebound. Most traders are on vacation and trading volume is low. Besides, risk appetite is currently weak. When the markets return to full swing in September, I expect the Loonie will experience in a surge in volatility. In fact, investors are already starting to adjust their positions, with the most recent Commitment of Traders report showing an increase in Net Longs, bringing the total to $4.2 Billion.</div><br />
There is certainly a basis for predicting continued strength, but I think much depends on how commodity prices perform. As I pointed out above, the Loonie remains somewhat decoupled from commodities. That it nonetheless got a boost from strong wheat prices and the $40 Billion takeover bid for Potash Corp by mining giant BHP Biliton shows that investors still view Canada as a resource economy. If the global economy avoids a double-dip recession, commodities prices will probably recover and the Loonie will probably rise slowly towards parity. On the flip-side, the Loonie would be one of the big losers of a global slide back into recession.mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0tag:blogger.com,1999:blog-590975543181811342.post-8970040867219639612010-08-27T00:24:00.000-07:002010-08-27T00:24:08.863-07:00“Risk-On, Risk-Off”<div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;">It sounds like a play on words, based on the Karate Kid refrain, Wax-On Wax Off, and for all I know it was. Still, I rather like this characterization – coined by a research team at HSBC – of the markets‘ current performance. Moreover, you’ll notice from the placement of that apostrophe that I’m not just talking about forex markets, but about the financial markets in general.</div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><a href="http://2.bp.blogspot.com/_fFW1BzLbf0A/THdl_s7G5DI/AAAAAAAAAAM/MMCuzKAob6g/s1600/US-Dollar-Versus-SP.jpg" imageanchor="1" style="clear: right; cssfloat: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" ox="true" src="http://2.bp.blogspot.com/_fFW1BzLbf0A/THdl_s7G5DI/AAAAAAAAAAM/MMCuzKAob6g/s320/US-Dollar-Versus-SP.jpg" /></a>What we mean is that when risk appetite is high, credit markets and equities and high-yielding currencies tend to rally together. When risk appetite fades, “those assets fall and government bonds and safe-haven currencies, including the U.S. dollar, the Swiss franc and, in particular, the Japanese yen rally.” Data from Bloomberg News confirms this phenomenon: “The 120-day negative correlation between Intercontinental Exchange Inc.’s Dollar Index and the Standard & Poor’s 500 Index was at 42.4 percent today, and has been mostly above 40 percent since <span style="color: black;">June 2009.”</span></div><div style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none;"><span style="color: black;">Skeptics counter that this correlation is tautological. Anyone can point to a stock market rally and declare that “Risk is Back On.” In addition, it’s not wholly unsurprising that there are strong correlations between low-risk currencies and low-risk assets, and between high-risk currencies and high-risk assets. According to HSBC, however, this time is different.</span></div><br />
It sounds like a play on words, based on the Karate Kid refrain, Wax-On Wax Off, and for all I know it was. Still, I rather like this characterization – coined by a research team at HSBC – of the markets‘ current performance. Moreover, you’ll notice from the placement of that apostrophe that I’m not just talking about forex markets, but about the financial markets in general.<br />
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What we mean is that when risk appetite is high, credit markets and equities and high-yielding currencies tend to rally together. When risk appetite fades, “those assets fall and government bonds and safe-haven currencies, including the U.S. dollar, the Swiss franc and, in particular, the Japanese yen rally.” Data from Bloomberg News confirms this phenomenon: “The 120-day negative correlation between Intercontinental Exchange Inc.’s Dollar Index and the Standard & Poor’s 500 Index was at 42.4 percent today, and has been mostly above 40 percent since June 2009.”<br />
Skeptics counter that this correlation is tautological. Anyone can point to a stock market rally and declare that “Risk is Back On.” In addition, it’s not wholly unsurprising that there are strong correlations between low-risk currencies and low-risk assets, and between high-risk currencies and high-risk assets. According to HSBC, however, this time is different.<br />
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For example, models suggest that the recent decline in volatility should have caused these relationships to break down. That they defied predictions and remained strong suggests that we have witnessed a significant paradigm shift. In the past, “Rising correlations are also tied to weak macroeconomic conditions.” At the moment, this could hardly be more true, with global economic growth flagging.<br />
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<div class="separator" style="border-bottom: medium none; border-left: medium none; border-right: medium none; border-top: medium none; clear: both; text-align: center;"><a href="http://3.bp.blogspot.com/_fFW1BzLbf0A/THdnh3ziI6I/AAAAAAAAAAU/YteCLr90kF8/s1600/Investors-Shift-Money-from-Stocks-to-Bonds.jpg" imageanchor="1" style="clear: left; cssfloat: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" ox="true" src="http://3.bp.blogspot.com/_fFW1BzLbf0A/THdnh3ziI6I/AAAAAAAAAAU/YteCLr90kF8/s320/Investors-Shift-Money-from-Stocks-to-Bonds.jpg" /></a></div>Statisticians love to teach the dictum, Correlation does not imply causation. Nonetheless, I think that in this case, I’d wager to say that the equity and credit/bond markets are driving forex, rather than the other way around. Consider as evidence that, “[Retail] Investors withdrew a staggering $33.12 billion from domestic stock market mutual funds in the first seven months of this year,” and shifted this capital into bonds. While this wouldn’t in itself be enough to drive the Dollar higher, it epitomizes the steady shifts that have been taking place in capital markets for nearly a year, broken only by the S&P/Euro rally in the spring (which now appears to have been an aberration).<br />
In fact, these shifts are once again creating shortages of Dollars: “This week, two banks bid at the European Central Bank’s weekly dollar liquidity providing auction – the first time there have been any bids since May – suggesting that they could not raise dollars in the market.” This suggests that demand for the Dollar could continue to grow.<br />
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Some analysts have suggested that the low-yielding US Dollar is already on its way to becoming a funding currency for carry traders, but I think this is wishful thinking. The HSBC report supports this conclusion, “A weakening of the ‘risk on-risk off’ paradigm is likely only once macro conditions are improved in a sustainable way…Currency performance will likely be tied to the ebb and flow of the perception of risk for some months to come.” In short, until there is solid proof that the global economy has emerged from recession (even if ironically it is the US which is leading the pack downward), the Dollar will probably remain strong.mandeephttp://www.blogger.com/profile/03519238242396605914noreply@blogger.com0