I currently trade on the stock market but I am interested in currency trading. I would like to know if it is similar to trading stock in which you trade using an online broker and if so what brokers are the best to use with the lowest commission fees?
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Hi,
Currency trading is similar to stock trading and all technical and fundamental analysis is approcimately the same. You just have to know that curreny pairs always go up and down.
Usually forex brokers don’t charge comission fees. They gain from spread. You should find brokerage company with smallest spread.
I could introduce you to one brokerage company in Austria that allows to trade from same account currency (forex), commodities, metals and cfd on shares; total 500 instruments available. Currency spread from 1 pip. If you open trading account under my referral I provide you for free with trading techniques that I successfully use for several years. If you are interesting please pm or e-mail me (press my name) and I provide you with further details. Please note I’m not related with the company but I have rights of Introducing Broker
In my opinion currency market is more difficult to trade than stock market. If you refer to FX market you must remember that this is non-regulated environment.
Obviously it`s impossible to describe major factors of currency trading in this post. The best you can do as beginner is to find broker allowing you to play with little money (mini contracts – like oanda.com and many others). This way you get sense of what you can expect without paying too much for your lesson.
The trading theories are the same as stocks but the market is manipulated by central banks and governmental policies. Ergo correct fundamental analysis can prove meaningless.
Yes.
SogoInvest. ($3.00 USD)