For most people, we do not recommend that they attempt to trade Forex markets for the following reasons:
- Client funds in Forex trading accounts do not have the same regulatory protections as in Futures currency trading accounts.
- Most people will tend to use way too much of the leverage that is available in a Forex account, which then allows for a small market move to wipe out their account.
- The trade liquidity in the Forex markets sometimes can dry up immediately before a major news announcement, during which time you might have large spreads or the inability to exit an existing trade position or enter a new position.
However, for people who understand these risks and still wish to trade the Forex markets, we are currently recommending the Forex trading platform below. (If you ever have a bad experience with this Forex platform, please let us know so that we can remove it from our recommendations.)
Pros & Cons: $250 minimum account size. Up to 400:1 leverage (Be careful!). You can do Forex trading on iPhone / PDA cell phone or on any computer with a internet web browser (so no software download required). Trading from charts, both audible & e-mailed price alarms, trailing stop orders. Excellent charting and 150 indicators including bid/ask charts, tick charts, drawing tools, custom indicators, economic calendar, and recaps of important news.
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