Risk Disclosure

"Forex trading can involve the risk of loss beyond your initial deposit. It is not suitable for all investors and you should make sure you understand the risks involved; seeking independent advice if necessary"

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Friday, October 16, 2009

Forex Broker of choice

Our preferred MT$ Forex Broker is FOREX,com UKForex.com acts as the clearing agent and counterparty to customers margined forex transactions introduced by “PracticalFX”. FOREX.com is a trading name of GAIN Capital - FOREX.com UK Limited and is authorized and regulated by the Financial Services Authority. FSA No. 190864.”

FOREX.com UK operates on the MT4 trading platform which is a professional sophisticated charting program with an array easy to use tools that allow the trader to open multiple charts and time frames on a single terminal.

The software allows us to change chart properties including the colour, style and scale. Windows can be configured within the terminal to suit individual trading needs and allows us to import or create our own custom indicators and automated trading software called EA’s or expert advisors. The program also allows us to set alerts that notify us when predetermined trading conditions have been met.

The program comes with dozens of the most popular indicators and EA’s which are easy to use.

Forex.com offers 37 real time currency pairs with commission free trading and are compensated through the bid ask spread on the various currency pairs. PracticalFX receives a rebate of 1 pip per round turn trade from forex.com. This rebate is not an additional charge to the client and has no effect on the normal bid/ask spread offered to its clients.

Standard or Mini accounts can be opened, the latter can be opened with as little as $250. Stop Loss and Limit orders are guaranteed to be filled at your price up to $2,000,000 under normal trading conditions. Placing contingent orders (Stop Loss/limit orders) may not limit your losses to the intended amount during Major Fundamental Announcements or outside of FOREX.com’s normal trading hours.

Forex.com also offers a practice account with up to $50 000 virtual money, allowing traders to test their trading strategies and familiarize themselves with the software prior to opening a live account.

Note: “FOREX.com UK is not currently accepting account applications from residents of the People’s Republic of China and Nigeria.

Governmental restrictions and our policies prohibit us from opening accounts from the following restricted OFAC sanctioned countries: Afghanistan, Burma (Myanmar), Cote d'Ivoire (Ivory Coast), Cuba, Democratic Republic of Congo, Former Liberian Regime of Charles Taylor, Iran, Iraq, Libya, North Korea, Sudan, Syria, Unita (Angola) and Zimbabwe, as well as other individuals specifically sanctioned.”

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