We all have heard the same thing time and time again. So you want to open a forex account but you don't know which brokerage or platform to use. You are afraid of using one that is going to be a scam and don't know who you can trust. Well its time for a little advice you can use.
First of all the forex industry is now more regulated than ever. After congress passed the Dodd-Frank act of 2010, Forex accounts in the United States were subject to many more rules and restrictions than they had ever seen. The result of this was all the dishonest brokerages stopped servicing accounts in the United States. But you you the Trader, this is GOOD.
You can now count on all Forex brokerages to adhere to a certain set of standards, and bad practices like nonexistent margin calls and price manipulation can not take place. I prefer eToro as a platform, but if you are using citiforex, or forex.com platforms you can be sure they are trustworthy.
The point is, it is very easy to open an account now that you do not have to worry about finding a trustworthy broker. All you need is some basic information about yourself, and you can open a practice account. Everyone should do this before opening a real account, it will allow you to test strategies with "play" money before the real deal. After you have decided you are ready for a real account, simply provide a few more pieces of information, and fund your account. You can even do it by Credit or Debit Card! The whole process is very quick and painless. With large available margin, and small trading minimums, you often do not need to fund an account with more than a couple hundred dollars.
So now that you know how easy it is, what are you waiting for? Open a Forex Account today!
For information on learning forex basics, visit www.forexright.com.
First of all the forex industry is now more regulated than ever. After congress passed the Dodd-Frank act of 2010, Forex accounts in the United States were subject to many more rules and restrictions than they had ever seen. The result of this was all the dishonest brokerages stopped servicing accounts in the United States. But you you the Trader, this is GOOD.
You can now count on all Forex brokerages to adhere to a certain set of standards, and bad practices like nonexistent margin calls and price manipulation can not take place. I prefer eToro as a platform, but if you are using citiforex, or forex.com platforms you can be sure they are trustworthy.
The point is, it is very easy to open an account now that you do not have to worry about finding a trustworthy broker. All you need is some basic information about yourself, and you can open a practice account. Everyone should do this before opening a real account, it will allow you to test strategies with "play" money before the real deal. After you have decided you are ready for a real account, simply provide a few more pieces of information, and fund your account. You can even do it by Credit or Debit Card! The whole process is very quick and painless. With large available margin, and small trading minimums, you often do not need to fund an account with more than a couple hundred dollars.
So now that you know how easy it is, what are you waiting for? Open a Forex Account today!
For information on learning forex basics, visit www.forexright.com.
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