Anyone tried online fx trading?
where I can find the online forex broker that regulated either by CFTC in the US or FSA in the UK or by both the regulators?.
But then I came across this webpage:
http://www.ehow.com/how_4928810_money-foreign-exchange.html
That basically says to exchange currency at a bank yourself, in person. I just want to know why this wouldn’t work. Obviously you wouldn’t have the benefit of leverage, but this would also minimize the risk.
For one thing, there’s no dealer to automatically cancel your existing trade in case you start to lose more money than you can fund, so you could wait for the currency to rise in value again before trading.
Also, you wouldn’t have to lose out on the spread that the dealer makes a profit from.
But what about the fees that banks charge for currency exchange? And is a bank going to be the most economically-efficient place that you could go in order to exchange currency?
Could you actually start to make significant profits through forex by exchanging money yourself through a bank or somewhere else where you could exchange one country’s currency for another’s … instead of going through an online broker?
thank you
If you have any idea about any online trade broker who is dealing with stocks, bonds, options , futures and forex in all major stock exchnages in the world.NOTE: Broker Must trade with major stock exchnages through out the world including US stock exchnages.
Please tell me the names of the brokers if you guys really know something….
Thank you and appreciate ur help.
Thanks
jackson