FOREX Trading is Economical and Start-up Costs are Low!
( You can open an account to trade Forex with as little as US$ 200 at he most brokerage firms.
I personally do recommend FINEXO
The Main Benefits of Trading the FX Spot Market are:
YOU don't pay commissions or fees!
YOU can trade 24-hours a day !
YOU can trade up to 400:1 Leverage !
YOU can have FREE Streaming executable Price quotes and live charts!
It is important to know the differences between cash FOREX (SPOT FX) and currency futures.
In currency futures, the contract size is predetermined. With FOREX (SPOT FX), you may trade electronically with desired amount, up to $10 Million USD.
· The futures market closes at the end of the business (similar to the stock market).
· If important data is released overseas while the U.S. futures markets is closed, the next day's opening might sustain large gaps with potential for large losses if the direction of the move is against your position.
· The Spot FOREX market runs continuously on a 24-hour basis from 7:00 am New Zealand time Monday morning to 5:00 pm New York Time Friday evening.
· Dealers in every major FX trading center (Sydney, Tokyo, Hong Kong/Singapore, London, Geneva and York/Toronto) ensure a smooth transaction as liquidity
migrates from one time zone to the next.
· Furthermore, currency futures trade in non-USD denominated currency amounts only whereas in spot FOREX, an investor can trade in almost any currency denomination, or in the more conventionally quoted USD amounts.
· The currency futures pit, even during Regular IMM (International Money Market) hours suffers from sporadic lulls in liquidity and constant price gaps.
· The spot FOREX market offers constant liquidity and market depth much more consistently than Futures.
· With IMM futures one is limited in the currency pairs he can trade .Most currency futures are traded only versus the USD.
· With spot FOREX, you may trade foreign currencies vs. USD or vs. each other on a 'cross' basis, for example: EUR/JPY, GBP/JPY, CHF/JPY, EUR/GBP and AUD/NZD
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