Forex brokers provide you with the platform for trading on the currency markets. Most trader are not shy about making their own trade, yet a novice or beginning trader may be a bit timid. You can hire an accomplished broker to place your trade for you, but that’s really necessary if you spend some time to learn the foreign exchange market. There are many forex brokers that can service your fx trade, while there are several that won’t go near a client that doesn’t have 25k or better to invest.
A forex trading broker is exactly that, a broker between the buyer and seller of a particular currency. The broker will have access to state of the art hardware and software that will allow them to place a trade faster than you or I, but they will obviously be charging a fee for their services.
You may find certain similarities between the currency trading markets and the stock markets, but those similarities stop quickly, especially considering there are no broker fees in forex trading, only a fee that is called the spread and is built into every currency transaction by the broker.
The Forex Spread
The spread is the difference between the buy and sell price of a currency pair and is usually a very small difference in price. It can also be described in terms of “pips”. The pip is the smallest price change that can take place within an exchange rate. It is usually 1/100 of one percent, or one basis point.
A forex broker will be exceedingly faster than a bank when it trades currency, and a broker will have much better rates than a bank. This is because the broker is a dedicated currency trader with the facilities to place trades within the currency market much easier.
Your future in currency trading, along with your success will highly depend on how wisely you choose a currency broker that will not overcharge you fees and will place your trades quickly and efficiently. Currency rates change abruptly within a currency pair that is traded regularly like the EUR/USD, so the timing of your broker will play a more significant factor in the profitability of your trade than your broker’s fees.
Saturday, January 2, 2010
Tick/Pip Values
roduct
Lot size
Approx Tick Value
per lot*
Major Currencies
EUR/USD EUR 100,000 .0001 = $10
USD/JPY USD 100,000 .01 = $10
GBP/USD GBP 100,000 .0001 = $10
USD/CHF USD 100,000 .0001 = $9
USD/CAD USD 100,000 .0001 = $8
AUD/USD AUD 100,000 .0001 = $10
NZD/USD NZD 100,000 .0001 = $10
USD/SEK USD 100,000 .0001 = $1.5
USD/NOK USD 100,000 .0001 = $1.5
USD/MXN USD 100,000 .0001 = $1
USD/ZAR USD 100,000 .0001 = $1
USD/DKK USD 100,000 .0001 = $2
Cross Rates & Exotic Currencies
AUD/CAD AUD 100,000 .0001 = $8
AUD/CHF AUD 100,000 .0001 = $9
AUD/JPY AUD 100,000 .01 = $10
AUD/NZD AUD 100,000 .0001 = $6
CAD/CHF CAD 100,000 .0001 = $9
CAD/JPY CAD 100,000 .01 = $15
CHF/DKK CHF 100,000 .0001 = $2
CHF/JPY CHF 100,000 .01 = $10
CHF/NOK CHF 100,000 .0001 = $1.5
CHF/SEK CHF 100,000 .0001 = $1.5
EUR/AUD EUR 100,000 .0001 = $7
EUR/CAD EUR 100,000 .0001 = $8
EUR/CHF EUR 100,000 .0001 = $9
EUR/CZK EUR 100,000 .0001 = $0.5
EUR/DKK EUR 100,000 .0001 = $2
EUR/GBP EUR 100,000 .0001 = $15
EUR/HKD EUR 100,000 .0001 = $1.5
EUR/JPY EUR 100,000 .01 = $10
EUR/NOK EUR 100,000 .0001 = $1.5
EUR/NZD EUR 100,000 .0001 = $6
EUR/SEK EUR 100,000 .0001 = $1.5
EUR/SGD EUR 100,000 .0001 = $6.5
EUR/TRY EUR 100,000 .0001 = $6.5
EUR/ZAR EUR 100,000 .0001 = $1
GBP/AUD GBP 100,000 .0001 = $7
GBP/CAD GBP 100,000 .0001 = $8
GBP/CHF GBP 100,000 .0001 = $9
GBP/JPY GBP 100,000 .01 = $10
GBP/NZD GBP 100,000 .0001 = $6
NZD/CHF NZD 100,000 .0001 = $9
NZD/JPY NZD 100,000 .01 = $10
NOK/SEK NOK 100,000 .0001 = $1.5
USD/HKD USD 100,000 .0001 = $1.5
USD/HUF USD 100,000 .0001 = $4.5
USD/PLN USD 100,000 .0001 = $3
USD/SGD USD 100,000 .0001 = $6.5
USD/TRY USD 100,000 .0001 = $6.5
Lot size
Approx Tick Value
per lot*
Major Currencies
EUR/USD EUR 100,000 .0001 = $10
USD/JPY USD 100,000 .01 = $10
GBP/USD GBP 100,000 .0001 = $10
USD/CHF USD 100,000 .0001 = $9
USD/CAD USD 100,000 .0001 = $8
AUD/USD AUD 100,000 .0001 = $10
NZD/USD NZD 100,000 .0001 = $10
USD/SEK USD 100,000 .0001 = $1.5
USD/NOK USD 100,000 .0001 = $1.5
USD/MXN USD 100,000 .0001 = $1
USD/ZAR USD 100,000 .0001 = $1
USD/DKK USD 100,000 .0001 = $2
Cross Rates & Exotic Currencies
AUD/CAD AUD 100,000 .0001 = $8
AUD/CHF AUD 100,000 .0001 = $9
AUD/JPY AUD 100,000 .01 = $10
AUD/NZD AUD 100,000 .0001 = $6
CAD/CHF CAD 100,000 .0001 = $9
CAD/JPY CAD 100,000 .01 = $15
CHF/DKK CHF 100,000 .0001 = $2
CHF/JPY CHF 100,000 .01 = $10
CHF/NOK CHF 100,000 .0001 = $1.5
CHF/SEK CHF 100,000 .0001 = $1.5
EUR/AUD EUR 100,000 .0001 = $7
EUR/CAD EUR 100,000 .0001 = $8
EUR/CHF EUR 100,000 .0001 = $9
EUR/CZK EUR 100,000 .0001 = $0.5
EUR/DKK EUR 100,000 .0001 = $2
EUR/GBP EUR 100,000 .0001 = $15
EUR/HKD EUR 100,000 .0001 = $1.5
EUR/JPY EUR 100,000 .01 = $10
EUR/NOK EUR 100,000 .0001 = $1.5
EUR/NZD EUR 100,000 .0001 = $6
EUR/SEK EUR 100,000 .0001 = $1.5
EUR/SGD EUR 100,000 .0001 = $6.5
EUR/TRY EUR 100,000 .0001 = $6.5
EUR/ZAR EUR 100,000 .0001 = $1
GBP/AUD GBP 100,000 .0001 = $7
GBP/CAD GBP 100,000 .0001 = $8
GBP/CHF GBP 100,000 .0001 = $9
GBP/JPY GBP 100,000 .01 = $10
GBP/NZD GBP 100,000 .0001 = $6
NZD/CHF NZD 100,000 .0001 = $9
NZD/JPY NZD 100,000 .01 = $10
NOK/SEK NOK 100,000 .0001 = $1.5
USD/HKD USD 100,000 .0001 = $1.5
USD/HUF USD 100,000 .0001 = $4.5
USD/PLN USD 100,000 .0001 = $3
USD/SGD USD 100,000 .0001 = $6.5
USD/TRY USD 100,000 .0001 = $6.5
White Label
GFX is the clear choice for banks and regulated Forex brokers who want to offer their clients a secure and efficient online trading tool. Advantages of GFX's white label include:
*
Build your own brand. Take advantage of a "white label" version of GFX's internet trading platform branded with your company logo.
*
A superior product to offer your clients. No one else can match GFX's breadth of product offerings, low margin requirements and tight spreads. In addition to major currencies and cross rates, your clients will also benefit from being able to trade precious metals and exotic currencies commission-free along with a leverage up to 200:1.
*
Advanced, real-time online reporting. With GFX, you can more effectively manage your back office - log in any time to GFX's online reporting system to run reports on your clients' trading activity.
*
Secure trading environment. GFX is one of the top firms in the online trading industry, with a reputation for security of funds and financial stability.
*
No risk on your books. Banks and regulated Forex brokers can benefit from taking no risk as all positions are held by GFX's liquidity provider. The White Label can simply collect a volume-based rebate without needing to concern with taking client positions on their books.
If you are interested in benefitting from GFX's White Label program, please complete and submit the below form. This will allow us to reply to you promptly with relevant information, and to get started as quickly as possible.
*
Build your own brand. Take advantage of a "white label" version of GFX's internet trading platform branded with your company logo.
*
A superior product to offer your clients. No one else can match GFX's breadth of product offerings, low margin requirements and tight spreads. In addition to major currencies and cross rates, your clients will also benefit from being able to trade precious metals and exotic currencies commission-free along with a leverage up to 200:1.
*
Advanced, real-time online reporting. With GFX, you can more effectively manage your back office - log in any time to GFX's online reporting system to run reports on your clients' trading activity.
*
Secure trading environment. GFX is one of the top firms in the online trading industry, with a reputation for security of funds and financial stability.
*
No risk on your books. Banks and regulated Forex brokers can benefit from taking no risk as all positions are held by GFX's liquidity provider. The White Label can simply collect a volume-based rebate without needing to concern with taking client positions on their books.
If you are interested in benefitting from GFX's White Label program, please complete and submit the below form. This will allow us to reply to you promptly with relevant information, and to get started as quickly as possible.
Trading Managers / Asset Managers
GFX offers the ideal service for Trading Managers, Asset Managers, Fund Managers and other industry professionals.
As well as offering an extensive list of commission-free forex products and a leverage up to 200:1, GFX's online trading platform boasts a multiple account functionality which enables an unlimited number of accounts to be managed simultaneously from a single trading window. Trading managers can trade client accounts individually, or use GFX's MetaTrader 4 software to automatically divide block trades among multiple accounts as specified by the user.
GFX's online reporting system also provides account statements and convenient position tracking for each individual account, even when they are grouped and traded from a single trading window.
As well as offering an extensive list of commission-free forex products and a leverage up to 200:1, GFX's online trading platform boasts a multiple account functionality which enables an unlimited number of accounts to be managed simultaneously from a single trading window. Trading managers can trade client accounts individually, or use GFX's MetaTrader 4 software to automatically divide block trades among multiple accounts as specified by the user.
GFX's online reporting system also provides account statements and convenient position tracking for each individual account, even when they are grouped and traded from a single trading window.
Introducing Brokers / Referral Agents
GFX offers an outstanding opportunity for individuals and corporations who wish to refer self-trading clients. Advantages of referring clients to GFX include:
*
Outstanding compensation scheme. GFX offers a volume-based compensation package with the Referral Agent.
*
A superior product to offer your clients. No one else can match GFX's breadth of product offerings and low margin requirements. In addition to major currencies and cross rates, your clients will also benefit from being able to trade precious metals and exotic currencies commission-free along with a leverage up to 200:1.
*
Advanced, real-time online reporting. With GFX, you can more effectively manage your back office - log in any time to GFX's online reporting system to run reports on trading activity of your referred accounts.
*
Secure trading environment. GFX is one of the top firms in the online trading industry, with a reputation for security of funds and financial stability.
If you are interested in becoming a Referral Agent for GFX, please complete and submit the below form. This will allow us to reply to you promptly with relevant information, and to get your Referral Agent agreement with GFX started as quickly as possible.
*
Outstanding compensation scheme. GFX offers a volume-based compensation package with the Referral Agent.
*
A superior product to offer your clients. No one else can match GFX's breadth of product offerings and low margin requirements. In addition to major currencies and cross rates, your clients will also benefit from being able to trade precious metals and exotic currencies commission-free along with a leverage up to 200:1.
*
Advanced, real-time online reporting. With GFX, you can more effectively manage your back office - log in any time to GFX's online reporting system to run reports on trading activity of your referred accounts.
*
Secure trading environment. GFX is one of the top firms in the online trading industry, with a reputation for security of funds and financial stability.
If you are interested in becoming a Referral Agent for GFX, please complete and submit the below form. This will allow us to reply to you promptly with relevant information, and to get your Referral Agent agreement with GFX started as quickly as possible.
Forex Trading with GFX
Trade on 2 to 3 pip Spreads
GFX's low spreads improve net trading results, especially for active traders. GFX uses its economies of scale and efficient dealing practices to offer the lowest spreads in retail Forex.
Instant order execution. Orders placed on the GFX software are executed immediately online, up to 100 lots (10 million currency units) at a time. Traders can also place stops, trailing stops, or limits on open positions or have them pre-set on market orders.
Zero Commissions and Fees
GFX clients always trade with zero commissions and no transaction fees, unless agreed otherwise.
Powerful Trading Software
GFX "MetaTrader 4" software sets new standards in online trading functionality, performance, and ease of use. Get a free demo account here.
Fractional lot sizes. Trading on GFX's software is not confined to only 1 lot increments. Clients can also trade .5 of a lot, 1.2 lot, or any other amount. Each Lot is equivalent to 100,000 currency units.
Real-time account and margin information. Your account balance, usable margin, and value of open positions are displayed in the trading software in real-time.
Real-time Charts, News and Quotes. GFX MetaTrader 4 software has charts, news, and quotes easily accessible from the menus.
Multiple Account Trading. Trading managers and funds can trade multiple accounts from a single window. The MetaTrader 4 software allows a block order to be automatically split up among multiple customer accounts as specified by the trader.
"Mini" Trading Capability. Set the number of Lots to "0.1" to trade a mini position with 1 pip equal to about $1. Margin requirements for these positions are $50.
Hedging capability. Traders can open positions in the same currency in opposite directions, without the positions offsetting and without using additional margin.
Service and Support. GFX clients have access to 24 hour technical support, as well as 24 hour trading by telephone or chat.
Lower Margin Requirements
Trade all currencies on 0.5% margin; equivalent to 200:1 leverage. Lower margin requirements mean more trading flexibility without getting a margin call.
Wide selection of products
Trade any of 49 major and exotic currency pairs, plus gold and silver. All products are commission-free with the same low margin requirements. Click here for a full list.
Limited Risk
GFX's clients can never lose more than their funds on deposit.
Security of funds
With GFX, your funds are secure and properly handled by a supervised broker with over CHF 10 million of capital. Client funds are segregated from GFX's own assets, thereby offering security of client funds.
GFX's low spreads improve net trading results, especially for active traders. GFX uses its economies of scale and efficient dealing practices to offer the lowest spreads in retail Forex.
Instant order execution. Orders placed on the GFX software are executed immediately online, up to 100 lots (10 million currency units) at a time. Traders can also place stops, trailing stops, or limits on open positions or have them pre-set on market orders.
Zero Commissions and Fees
GFX clients always trade with zero commissions and no transaction fees, unless agreed otherwise.
Powerful Trading Software
GFX "MetaTrader 4" software sets new standards in online trading functionality, performance, and ease of use. Get a free demo account here.
Fractional lot sizes. Trading on GFX's software is not confined to only 1 lot increments. Clients can also trade .5 of a lot, 1.2 lot, or any other amount. Each Lot is equivalent to 100,000 currency units.
Real-time account and margin information. Your account balance, usable margin, and value of open positions are displayed in the trading software in real-time.
Real-time Charts, News and Quotes. GFX MetaTrader 4 software has charts, news, and quotes easily accessible from the menus.
Multiple Account Trading. Trading managers and funds can trade multiple accounts from a single window. The MetaTrader 4 software allows a block order to be automatically split up among multiple customer accounts as specified by the trader.
"Mini" Trading Capability. Set the number of Lots to "0.1" to trade a mini position with 1 pip equal to about $1. Margin requirements for these positions are $50.
Hedging capability. Traders can open positions in the same currency in opposite directions, without the positions offsetting and without using additional margin.
Service and Support. GFX clients have access to 24 hour technical support, as well as 24 hour trading by telephone or chat.
Lower Margin Requirements
Trade all currencies on 0.5% margin; equivalent to 200:1 leverage. Lower margin requirements mean more trading flexibility without getting a margin call.
Wide selection of products
Trade any of 49 major and exotic currency pairs, plus gold and silver. All products are commission-free with the same low margin requirements. Click here for a full list.
Limited Risk
GFX's clients can never lose more than their funds on deposit.
Security of funds
With GFX, your funds are secure and properly handled by a supervised broker with over CHF 10 million of capital. Client funds are segregated from GFX's own assets, thereby offering security of client funds.
India Forex
The Orissa High Court on Thursday ordered a CBI probe into the alleged Rs 25 lakh-crore derivative scam in the foreign exchange market of the country.
“In view of national interest involving irregularities of such huge amount due to faulty derivative contracts, we direct the CBI to make a thorough probe into the whole affair after registering a case”, a bench of the HC comprising acting chief justice I.M.Quddusi and justice Kumari Sanju Panda observed, while disposing of a Public Interest Litigation filed by a Cuttack-based businessman Prabanjan Patra in this regard.
The CBI in its preliminary investigation report filed to the HC last month said that there were prima facie evidences of violation of Foreign Exchange Management Act (FEMA) by several banks in India, which sold derivative contracts to gullible companies, exporters and importers, resulting in huge losses. The national investigating agency, however, did not name the erring banks in the report.
The Indian business houses including exporters and importers entered into derivative agreements with the banks to avoid the risk of high fluctuations of foreign exchange values. As per the contract, the banks arrange foreign exchanges to the companies at a rate agreed between them for a fixed period irrespective of the increase or decrease in the foreign currencies.
“In view of national interest involving irregularities of such huge amount due to faulty derivative contracts, we direct the CBI to make a thorough probe into the whole affair after registering a case”, a bench of the HC comprising acting chief justice I.M.Quddusi and justice Kumari Sanju Panda observed, while disposing of a Public Interest Litigation filed by a Cuttack-based businessman Prabanjan Patra in this regard.
The CBI in its preliminary investigation report filed to the HC last month said that there were prima facie evidences of violation of Foreign Exchange Management Act (FEMA) by several banks in India, which sold derivative contracts to gullible companies, exporters and importers, resulting in huge losses. The national investigating agency, however, did not name the erring banks in the report.
The Indian business houses including exporters and importers entered into derivative agreements with the banks to avoid the risk of high fluctuations of foreign exchange values. As per the contract, the banks arrange foreign exchanges to the companies at a rate agreed between them for a fixed period irrespective of the increase or decrease in the foreign currencies.
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