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Currency Forex - Learn Online Trading

Written by ForexCult Team
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Currency Forex - Learn Online Trading In the following article I would like to take the time to tell you about currency forex learn online trading. I think that it is very important that you know about currency trading and that you know what all currency trading is going to ask of you as a trader in the forex market. In the following article, I am going to take the time to tell you everything that I know about currency forex learn online trading so that you are going to be able to look at currency trading as if you have know it all your life. When you are trying to learn information about the market or any information in general, it is important that you take the time to sit down and really look into the information that you are provided with so that you are able to barricade yourself in your own little world of learning and not be distracted by the little things that can break your concentration at some points and times. The information that I am going to provide you with isn’t going to be life changing information; however it is going to be information that you will find very useful when you are trading currency. Currency Forex Learn Online Trading Overview The first thing that is very important for you to know is why you should trade foreign currencies. The truth of the matter is that there are many benefits as well as advantages when it comes to trading forex in the forex market. In this paragraph, I am going to give you an insight on why traders are choosing to trade foreign currencies. The first reason that the traders are deciding to trade foreign currencies is because there is no commissions. There are no clearing fees, there are no exchange fees, there are no government fees and the bottom line there are no brokerage fees as well. The actual forex brokers are compensated for their individual services through something that is referred to as the bid and ask spread. The second reason that there are a lot of traders that are trading foreign currencies is because there are no middlemen. In fact just the subject of spot currency trading actually eliminates the middlemen altogether and actually in turn allows you as the individual trader to trade directly with the actual forex market which is actually responsible for putting a pricing on a particular pair of currencies. The third reason that a lot of the traders are deciding to trade foreign currencies is because of the fact there is no mentioned fixed lot size. When it comes to future markets you will find that the lot or in other words the contract sizes are actually determined by what are known as the actual exchanges. The fourth reason that the traders are turning to trading currencies is because there are low transaction costs. When you consider the transaction cost under normal conditions of the market, you will find that the actual retail transaction cost is more than likely going to be less point one percent. The fifth reason that the traders are turning to the trading of foreign currencies is because of the fact that the forex market is known to be a twenty four hour market. This means that you don’t have to wait for a bell to ring to symbolize that there is trading in progress, the forex market never sleeps. Currency Forex Learn Online Trading Overall Now you should take a look at currency forex learn online trading overall since you have the reasons that all of the traders are heading in this direction. The first thing that you are going to want to know is the tools that you as the trader are going to need in order to start currency trading. You are going to need only a couple of things in order to get started, first you are going to need a computer that has a high speed internet connection and you are also going to need all the information that you can find that tells you how you can get started with currency trading. The next thing that you are going to need to know is what it is going to actually cost when it comes to trading forex. The bottom line here is that when it comes to online currency trading, you may open an account for a couple hundred dollars. However, you should not laugh because the micro accounts as well as the mini account are known to be good ways for you to be able to get your feet wet without actually drowning.

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Which is the Best Forex Broker you have traded with?

Interview with Matthew Sheppard

Senior Forex Advisor at XForex

1. What is your name and position?

Hello, my name is Matthew Sheppard and I am a senior forex advisor at XForex.

2. What is your experience and professional background?

In the last 6 years I had filled several positions in financial institutions such as a stock broker, a foreign exchange desk manager, a financial consultant and in my recent role I serve as a senior Forex advisor for XForex which is an online forex company.

3. What type of clients you deal with?

We deal with clients on all levels from the beginning stages to the more advanced trading levels.

4. Does most of your business activity come from the online or offline world?

Because of our high presence on the web, most of our business comes from the online world.

5. Why should a trader pick XForex from all forex brokers?

Aside from all the benefits that XForex offer like commission-free trading, 24/7 online support, high leverage (200:1), XForex offers educational and learning trading experience that you won’t find anywhere else..

Our team of experts and financial trainers provide personal assistance and guide clients to financial success. We provide daily analysis and market reviews to our clients giving them a better understanding of the market and helping them trade profitably.

6. From your experience, what advice would you give a person who wants to enter the forex world?

My advice to the beginning trader entering the Forex world is as follows:
  • Learn the market and understand what you’re getting into.
  • Research and find the broker that suits your needs and wants. Look for a good offering but more importantly customer service, don’t go for the low rates offer without being certain they have a good customer service department. From my extensive experience in the Forex world your key to success will be your client-broker relationship. I can honestly say that at XForex they put an emphasis on servicing clients, which is so important.
  • Invest smartly and calculate your risks.
  • Always know when to get out of a trade.

Broker of the Month

5_small_logoUFXBank provide up-to-date charts and news feeds, coupled with an easily navigated trading platform. UFXBank traders can access the biggest market in the world 24 hours a day with ease.

By keeping their platform, site and deposit process simple, safe and secure, UFXBank have become the web’s premier online forex trader.