Why would you want to learn more about trading currencies?

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Here are just a few reasons why so many people are choosing this market:

•        No commissions.

No clearing fees, no exchange fees, no government fees, no brokerage fees. Brokers are compensated for their services through something called the bid-ask spread.

•        No middlemen.

Spot currency trading eliminates the middlemen, and allows you to trade directly with the market responsible for the pricing on a particular currency pair.

•        No fixed lot size.

In the futures markets, lot or contract sizes are determined by the exchanges. A standard-size contract for silver futures is 5000 ounces. In spot Forex, you determine your own lot size. This allows traders to participate with accounts as small as $250. Not always a good idea. We’ll explain in training.

•        Low transaction costs.

The retail transaction cost (the bid/ask spread) is typically very small under normal market conditions.

•        A 24-hour market.

There is no waiting for the opening bell - from Sunday evening to Friday afternoon EST, the Forex market never sleeps. This is good news for those who want to trade on a part-time basis, because you can choose when you want to trade–morning, noon or night.

•        No one can corner the market.

The foreign exchange market is so huge and has so many participants that no single entity (not even a central bank) can control the market price for an extended period of time.

•        Leverage.

In Forex trading, a small margin deposit can control a much larger total contract value. Leverage gives the trader the ability to make nice profits, and at the same time keep risk capital to a minimum. However, leverage is a double-edged sword. Without proper risk management, this high degree of leverage can lead to large losses as well as gains.

•        High Liquidity.

Because the Forex Market is so enormous, it is also extremely liquid. This means that under normal market conditions, with a click of a mouse you can instantaneously buy and sell at will. You are never “stuck” in a trade.

•        Free “Demo” Accounts, News, Charts, and Analysis.

Most online Forex brokers offer ‘demo’ accounts to practice trading, along with breaking Forex news and charting services. All free! These are very valuable resources for you who would like to hone their trading skills with ‘play’ money before opening a live trading account and risking real money.

•        “Mini” and “Micro” Trading.

You would think that getting started as a currency trader would cost a ton of money. The fact is, compared to trading stocks, options or futures, it doesn’t. Online Forex brokers offer “mini” and “micro” trading accounts, some with a minimum account deposit of $300 or less.

•        What Tools Do I Need to Start Trading Forex?

        A computer with a high-speed Internet connection and CIG asyour great source for training and support!

What Does It Cost to Trade Forex?

An online currency trading (a “micro account”) may be opened with a couple hundred bucks. Believe it or not– micro accounts and its bigger cousin, the mini account, are both good ways to get your feet wet without drowning. For a micro account, we’d recommend at least $1,000 to start. For a mini account, we’d recommend at least $10,000 to start. Stand by for a demo link to come soon. You can start demo’ing a trading account free of charge.