While investing in the forex market, you will find the forex brokers as the middle man. Trade of currencies necessitates the brokers to put your orders.you can become a giant trader with a large amount of balance or you can be a floor trade as well.
Rut it is a matter of regret that majority of us do not have fund that is required to place the order directly wi the bank. Hence the need for the brokers rises. They offer us the highest currency rate and make their profit on the difference. Here is two top broders online.
Oanda Forex Broker
Very few forex brokers are as favorite as Oanda. A year ago I opened my account with them for the first time and the outcome is that I am now recommending you for them.
At that time they were the only brokers offering various currencies to the small traders. I choose them for having a Euro account.
It was started as the broker of the Samsung. The concept was first came from the mind of Richard Olsen of the Olsen Group. He is the author of two books about forex named “Forex Traders bill of rights” and “Introduction to High Frequency Trading”.
This is larger than most other currency broker and have therefore won various awards like 2009 World Finance’s Forex Award to the 2008 Euromoney Award For Excellence.
They have various competitive variables spread. They use java based trading platform enabling the clients to trade with a java enabled computer and internet form anywhere of the world. No download required.
It is true that their cost is a bit high but overall I think they are good enough to support you throughout the process of trading and guide you toward success.
After having some rocky scandal past now, they are probably the most popular broker on the net.
Let’s have a summary of the incident, Refco collapsed for having an accounting scandal of purchasing 35% in Fxcm. Then after Refco was larger than any other broker firm of Chicago Mercantile Exchange. Thus they become futures and commodities broker.
In 2009 the presence of Forex Capital Management was a important issue. They attract their micro account holder clients with their lowest spread. They are branching internationally and offering their services in most of the major languages like Chinese, Arabic, French etc. opening an account with FXCM Micro costs only $25. The main problem is that their trading platform is downloadable. But to be honest it is the easiest one to use.