Forex Brokers : What Role Do Forex Brokers Perform?
The forex broker acts as an intermediaries in the currency markets. Without them, we cannot place our orders. Still, there are other options around forex brokers. Floor trading is one way to around them and dealing directly with the banks (Huge sums of money) is another.
Unfortunately, most of us aren't Billionaires and lack the talent and resilience required for the rigors of floor trading. Forex brokers get their own currency rates from the bank. Money is as the broker charges their clients a higher spread on the currency pair. Their profits are derived entirely from the spread. Here are two of the top online forex brokers.
Oanda is an enormously accepted forex broker. Back then, they were one of the few that offered different base currencies to smaller traders. Oanda actually started as a company converting large sums of currencies for large corporations. Oanda is owned by the founder of the Olsen Group, Richard Olsen. He has authored two books on forex trading with one of them being the famous manifesto, the forex traders bill of rights
Oanda has won various awards year by year such as the 2008 Euromoney award for excellence. Their have variable spreads that are competitive. Oanda uses a java based trading software that clients can log into from any computer as long as it has an internet connection.
FXCM is the worlds most popular online forex broker to date. They have been aggressively expanding globally and have the lowest spreads among the top online brokers. They are a multi-lingual forex broker with all the major languages covered and it takes as little as $25 to open a micro account with them. The FXCM trading station II is their platform of choice but they are looking at offering metatrader 4 in the future due to its popularity. Accounts can be had in Euro, British pound, American Dollar, Japanese Yen and the Australia dollar. - 23222
Unfortunately, most of us aren't Billionaires and lack the talent and resilience required for the rigors of floor trading. Forex brokers get their own currency rates from the bank. Money is as the broker charges their clients a higher spread on the currency pair. Their profits are derived entirely from the spread. Here are two of the top online forex brokers.
Oanda is an enormously accepted forex broker. Back then, they were one of the few that offered different base currencies to smaller traders. Oanda actually started as a company converting large sums of currencies for large corporations. Oanda is owned by the founder of the Olsen Group, Richard Olsen. He has authored two books on forex trading with one of them being the famous manifesto, the forex traders bill of rights
Oanda has won various awards year by year such as the 2008 Euromoney award for excellence. Their have variable spreads that are competitive. Oanda uses a java based trading software that clients can log into from any computer as long as it has an internet connection.
FXCM is the worlds most popular online forex broker to date. They have been aggressively expanding globally and have the lowest spreads among the top online brokers. They are a multi-lingual forex broker with all the major languages covered and it takes as little as $25 to open a micro account with them. The FXCM trading station II is their platform of choice but they are looking at offering metatrader 4 in the future due to its popularity. Accounts can be had in Euro, British pound, American Dollar, Japanese Yen and the Australia dollar. - 23222
About the Author:
Forex Broker as well as Interbankfx are just a few subjects that the author specializes on. Prema De Silva has been in the forex trading market for longer than 7 years. Her purpose is to share her knowledge on the area whever she can.
posted by X - Men @ 3:13 AM
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