A Look at Online Forex Brokers

An online forex broker is a firm that facilitates retail trading
using Internet technologies. Global Forex Trading (GFT),
one of the popular online forex brokers. It provides retail
traders with a free demo trading account, allows users to
open a live account, gives live help, provides software
called DealBook FX 2, and allows viewing of account
documents. (DealBook FX 2 can be downloaded for
the demo trading account).
Gain Capital Group's Online Forex offers 200:1 leverage.
In some cases, the total return on investment is higher
due to leverage. For example, with $1000 cash in a margin
account, the investor can control up to $200,000 in
notional value. Of course, trading on leverage magnifies
both the investor's profits and losses.
GCI Financial Ltd. offers commission-free online trading
in forex. GCI offers Internet trading software, fast and
efficient execution, and 0.5% margin requirements.
This broker offers USD or Euro denominated trading
accounts. The spreads are 3 pips in EUR/USD and
USD/JPY, and are 4 to 5 pips for other major commissions.
Clients can hedge by opening positions in the same
currency in opposite directions. Risk to the investor
is limited to the deposited funds. Market analysis and
research, real-time charts, and forex trading signals
are available at no charge.
ACM, part of the REFCO group, offers 3 pip spreads
on all major currencies, which works out to between
0.02% and 0.03% on the dollar value. They also offer
commission-free trading, and forex trading with a 1%
margin, which means that a trader can control $1,000,000
with $10,000 in his account.
There are many online forex brokers that offer free
demo accounts for potential forex traders to practice trading.
It is only a matter of registering and starting demo trading
to get a feel for forex trading. In addition, at most sites,
traders can find free forex news to assist them with their
trade strategies.