subject: Forex Trading Software: Challenging and Enjoyable Way of Earning Money from the Forex Market [print this page] Forex Trading Software: Challenging and Enjoyable Way of Earning Money from the Forex Market
In a sense all types of forex trading are broker forex managed accounts, even those conducted through online forex software that is downloaded from forex websites. Most investments after all are handled through brokers. But you will enjoy and find online trading vey challenging as well as rewarding.
There are several types ofbroker forex managed accounts. There is the standard type where the participation of the broker is limited to executing trade and giving you professional advice about good trading opportunities. The account is still in your name, you can look it up to check what's happening with it and you can withdraw your money any time you want unless there is a prior agreement for a fix time period for the management of the account. This account usually is applicable to individuals who have moderate amount of money to invest.
The pooled accounts are for people who do not have much money to open accounts in their own names because brokers will not find it worth their time trading very small amounts. Brokers instead pool the small amounts of money from these investors and trade then under a pooled account. Individual investors do not have access to the account and rely on the information given by the broker regarding their investments. You just hope that your broker is a good one and wait for profits that may be earned by your investment.
The disadvantage of pooled accounts is that you are totally relinquishing your money to the broker. There are brokers who are not transparent when it comes to giving pooled investors an accounting of the results of trading activities. Often it is also unclear what happens to the investors money should the broker lose the money.
Trading on your own throughforex software seems a good alternative to pooled accounts. You can trade with initial capital as low as a hundred dollars and your fate is in your hands. Besides this by spending adequate time getting familiar with forex trading and the software, you can really become a good trader and earn enough to make forex trading your primary source of income. Who knows their might come a time when because of it you'll be able to quit your boring 9 to 5 job?
