Comments on: What’s a decent forex broker which is not a seedy bucket shop but still not to high priced? http://profitsforpeople.org/whats-a-decent-forex-broker-which-is-not-a-seedy-bucket-shop-but-still-not-to-high-priced/ forex profits Sun, 18 Jul 2010 09:07:25 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Ted http://profitsforpeople.org/whats-a-decent-forex-broker-which-is-not-a-seedy-bucket-shop-but-still-not-to-high-priced/comment-page-1/#comment-87 Ted Fri, 05 Feb 2010 03:53:24 +0000 http://profitsforpeople.org/whats-a-decent-forex-broker-which-is-not-a-seedy-bucket-shop-but-still-not-to-high-priced/#comment-87 First, you aren't going to be a talking to a broker. With forex, you will have an account with a dealer who will be taking the other side of your trades. Second, since they are dealers, they make their money off the spread, not by charging fees or commissions. Third, they are not banks or brokers, so there is no such thing as "proper insurance". If you want to learn how the trades work google "forex" and you will see a list of dealers. Any legit dealer will give you a demo account free for 30 days. Since forex is not governed by law anybody can be a forex dealer, but all the legitimate ones voluntarily register with the National Futures Association even though they don't have to because they are not actually futures brokers. First, you aren’t going to be a talking to a broker. With forex, you will have an account with a dealer who will be taking the other side of your trades.

Second, since they are dealers, they make their money off the spread, not by charging fees or commissions.

Third, they are not banks or brokers, so there is no such thing as "proper insurance".

If you want to learn how the trades work google "forex" and you will see a list of dealers. Any legit dealer will give you a demo account free for 30 days.

Since forex is not governed by law anybody can be a forex dealer, but all the legitimate ones voluntarily register with the National Futures Association even though they don’t have to because they are not actually futures brokers.

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