subject: The Advantages of ECN Forex [print this page] Forex is the largest financial market in the world had changed around three billion dollars to the owner one day. In the last ten years though, the market for retail (small) entrepreneurs opened before 2000, it was mainly the large banks and corporations that have used the foreign exchange market.
A major advantage of the Forex is that you do not pay commissions on each transaction. You are responsible for some of the points you enter a trade, for example, if a long trade for the Japanese yen from 87.00 and the difference between two points (points), then you would really know to 86.98. So in this case you need to move trade to up to 2 additional points if you plan to take your profits.
There are some forex accounts called ECNs, that a commission and offer spreads are cheaper then most brokers. It is a good idea to shop because there are many differences in the spreads offered by different brokers. There are also many Forex brokers to this notice that are not easily trusted. It is a good idea to do a Google search for the broker you are considering and see the word "review" to when others have good experiences with this company or not. In many cases, you hear that people were exploited by the brokers. A good site is visible Forex Magnate comments.
Another advantage of the Forex is the minimum needed to open a trading account is very low. You can even a micro account, so the risk as low as 1 cent per point. This is fine if you want to test a strategy and to gain experience in live trading without any damage to your wallet.
Another advantage is that it is possible for almost anyone to a forex trading account to get, as the minimum age. You need not prove the existence of special skills or qualifications.
Foreign exchange markets are open 24 hours a day, five days a week. It is the only market that does not sleep and there are many opportunities for all people worldwide.
You can use the markets on an intraday basis, or short, you can also trade in the long term trade. If you think that weaken Great Britain Pound in the next year against the dollar in the United States, for example, you can create a short position trade. If you are planning long term trade, it is a good idea, the swap rate that you will probably have to pay a small fee per day to check to keep your business.
