There are a number of online brokers who offer the facility to trade the FOREX market via the internet. Unfortunately selecting the right one is like selecting the right telephone company. Loads of claims, but ......
Different brokers have different spreads, and many "guarantee" to respect your stop loss etc. I say "guarantee", as there is always the fine print. We used to utilise a "guarantee" broker, but when our stop was not honoured we were referred to this clause somewhere on their web site:
" * All stop-loss, limit and entry orders are guaranteed against slippage except in extraordinarily volatile market conditions. All quotes and trades are subject to the terms and conditions of the Client Agreement accessible through this website".
And what is the definition of "extraordinarily volatile market conditions" ? Basically whatever condition the broker decides on ... nice clause.
Where possible, try and locate a broker who is regulated by an authority in your country. eg. In Australia, look for a broker who is regulated by ASIC. We recommend Easy Forex who have offices in both Sydney and Melbourne. You may wish to read more about them at Easy Forex
Before doing ANYTHING, we suggest that you open a "Play Money" account at OANDA. It is FREE and absolutely essential learning. See how quickly you can make or lose on trades in the real environment, but without risking your own money.
Forex trading is associated with a high level of risk. Past performance is no guarantee of future performance. Readers use the information and links provided on this web site entirely at their own risk.
