I'm considering opening an account for currency trading, who should I go with?
I have experience trading securities and I'm ready to open an account so I can do some forex trading.
What are the fees involved with forex trading and who's the cheapest?
Currency trading in the US is completely outside regulation, except futures and options. It is not illegal for a FOREX trader to offer a price away from the market to trigger margin calls to make extra profit and it is done. Either pick an English FOREX trader, which you cannot do over the net, or go to E-trade and open a global account. I am pretty sure you will not be able to day trade currencies, but you will be able to daytrade foreign securities. A pattern daytrader gets less leverage than a FOREX firm gives, but you get legal regulation.
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January 1st, 2009 at 1:29 am
Currency trading in the US is completely outside regulation, except futures and options. It is not illegal for a FOREX trader to offer a price away from the market to trigger margin calls to make extra profit and it is done. Either pick an English FOREX trader, which you cannot do over the net, or go to E-trade and open a global account. I am pretty sure you will not be able to day trade currencies, but you will be able to daytrade foreign securities. A pattern daytrader gets less leverage than a FOREX firm gives, but you get legal regulation.
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