Discussion of Forex Trading and Currency Trading

Online currency trading?

Hi, Everyone
I am looking at starting trading currency online. However, There are too many websites out there offering the same services and I won’t be surprised if some or most of them are scams.
What I am after is a recommendation of a particular company you have previously used and actually got your money back from. Also I do not want to put a lot of money into it, small, tiny amounts first.
Any recommendations of someone who’s willing to take $100 at a time and give it back to me should i request it?
I am willing to take the risk with trading, but not some scam :)

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2 Responses to “Online currency trading?”

  1. you may try check out your options in this site. it will lead you to a very legitimate, trusted and leading forex broker with offices regional worldwide including the usa, europe, canada, uk, australia, middle east and asia. wtihdrawing money should not be a problem as long as you have completed the required documentation, however, they require a minimum deposit amount of $200 for you to start trading. all the best.

  2. relaxed_trader Says:
    May 9th, 2010 at 6:54 am

    if you’re talking about those numerous Forex offers, then indeed: some are scams….

    But even those that aren’t, are most often ‘white-label’ off-springs of larger brokerages. Apparently, there are only in between 15-20 Forex brokerages world wide - the rest are just relabelled offers from any of these 15-20 brokerages.

    Also please be aware that Forex brokers are different from future brokers. When you invest in futures, you invest in a defined contract, and any one future is traded on a single market. This means that future volume data is indeed representing the entire market. Forex brokers on the other hand can only present market volume that pertains to the transactions they do on behalf of their client. Also, most Forex brokerages are your liquidity providers, meaning that they are actually trading the opposite position of the trades you execute. In this sense, your broker is trading against you.

    If your account is large enough to fund a futures account, I strongly suggest you trade currency futures, as the futures markets are regulated and much more honest. If you need to trade on the currency spot market (Forex) to grow an account, only do so to step up to currency futures.

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