Forex is short for foreign exchange and is the name given to the “direct access” trading of foreign currencies. With an average daily volume of $1.4 trillion dollars, forex is roughly 30 times larger than all of the futures markets combined, and is therefore one of the most liquid markets in the world. Because forex is electronically traded like Nasdaq stocks, trading occurs 24 hours a day around the world.
Forex Trading Account Registration
When you open a Forex trading account, you will be asked to give various personal details, including your credit card details, so you will be able to make real cash trades. Some sites offer Forex trading free training wherein you are not required to give out your credit details in order to open and use the demo account.
In most cases Forex trading registration is done online, even though sometimes you are required to register by fax. This is uncommon though and only occurs for the smaller Forex trading sites.
Forex Account Activation and Confirmation
Because we are dealing with real money accounts, you are required to verify your details and your email, through various needed steps. Before you sign the terms and conditions of the Forex trading account, make sure you understand what the site is offering. You should make sure you understand about the various conditions that include:
* – The bid/ask spread that the site offers for major currencies, in relation to what other sites offer.
* – Make sure that proper leverage is available through the margin per trade.
* – Find out about The minimum account size and lot size.
* – Check that there are no small print or hidden commissions that the site’s operators prefer you don’t know about.
* – If you can, try out the Forex trading platform, as well as the charting and technical analysis options beforehand.
* – Check the general contract and make sure you save it along with the requoting policy on your computer.
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