It’s hard to believe that only a few short years ago, trading in currencies and stocks was an entirely offline activity. To find a broker meant often reading the ads of the Financial Times.
You would need to find and call your broker or bank to purchase stocks and to sell them. Those archaic days are quickly becoming distant. More about the author!
We are now faced with an explosion of options for online trading in stocks, shares and currency.
Trading shares was exciting until my stocks profiles became static and there were no movements. It was time to try something new, more thrilling, and riskier, but still able to give me the thrill I craved when I had a good win.
Spread betting, also called forex/fx/foreign Exchange or foreign exchange, caught my interest. The forex hunt begins at this point. If you’ve been investing for a while, the initial steps of a forex hunt will be quite straightforward.
You have to consider several factors when searching for forex brokers. The companies are also important. Like any online investment, you should research them, check for warnings about scams, and read forex reviews. If the feedback is positive, then that means the search for a forex broker has begun.
You will need to choose between regulated and unregulated brokers. You can’t go wrong with either broker if you do your research. Most American/USA Forex traders prefer offshore brokers because it allows them to better manage their trading profit. However, most European traders use FSA and CySec-regulated brokers.
After you have found your broker, you will need to determine how to fund forex trading. The forex search begins with deciding which payment processor is best for you. Remember that you could be making thousands of dollars or euros in profits! Forex brokers accept e-payments such as MoneyBookers and PayPal in addition to traditional bank transfers.