The Day Trade Forex System - How to Choose An Online Forex Brokerage Firm
Released on = March 14, 2007, 4:52 am
Press Release Author = Day Trade Forex, LLC
Industry = Small Business
Press Release Summary = What to look for in an online Forex Brokerage Firm. The goal of the Day Trade Forex System is to instruct and teach potential traders how to day trade the currency markets and what to look for in an online forex brokerage.
Press Release Body = What to look for in an online Forex Brokerage Firm:
1. Low Spreads: In Forex Trading the ‘spread’ is the difference between the buy and sell price of any given currency pair. The lower the spread saves the trader money. Most firms offer 4-5 pip spreads in the Major Currency pairs. The best firms offer clients 3-5 pips.
2. Low minimum account openings: For those that are new to trading, and for those that don’t have thousands of dollars in risk capital to trade, being able to open a mini trading account with only $200 is a great feature for new traders.
3. Instant automatic execution of your orders: This is very important when choosing a Forex firm. You want instant execution of your orders and the price you see and ‘click’ is the price that you should get. Don’t settle for a firm that re-quotes you when you click on a price or a firm that allows for price ‘slippage’. This is very important when trading for small profits.
4. Free charting and technical analysis: You need a firm that gives you access to the best charting and technical analysis available to active traders. The firm that I recommend gives clients FREE professional charting services and even allows traders to trade directly on the charts!
5. High Leverage: You want high leverage—the ability to trade a large amount with a small margin deposit. Some of the best firms offer .25% or 400:1 leverage.
After a lot of research and personal experience, the firm that we recommend with the above-mentioned benefits is Capital Markets Services LLC (CMS Forex LLC).
Open a free unlimited demo account and start practicing!
The goal of the Day Trade Forex System is to instruct and teach potential traders how to day trade the currency markets and what to look for in an online forex brokerage.
The Day Trade Forex System is specifically designed for use with the 1, 5 or 10-15 minute charts, with the goal of taking 5-30 pip profits per trade — closing bad trades out using tight stops, or hedging any losing trades. The ability to trade right off the charts makes the CMS trading platform our favorite.
Visit: http://www.daytrade-forex.com
for examples of actual trades using the Day Trade Forex Trading System. Learn how easy it is to trade the lucrative forex market from your home pc.
Erol Bortucene and Cynthia Macy are co-authors of \'The Day Trade Forex System: The Ultimate Step-By-Step Guide To Online Currency Trading\'. They have over 19 years experience trading futures, stock options and foreign currencies, have written three forex training ebooks and are considered expert forex traders and trainers.
For more comprehensive trading information, visit their other websites:
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