Hi,
just out of curiousity, can someone just tell me a little about forex brokers. What they do? how they make their money? because I ve never heard of forex broker before.
Do they trade? or do they make a fix income? do they give advise to clients? thanks
Of course everyone is in this to make money. A forex broker is the company you sign up with which places trades on the currency market on your behalf. A ligit forex broker is registered with the Futures Commission Merchant and is a member of the National Futures Association.
Most make money on the BID/ASK.You have to buy at Ask price and sell at BID price. For example the USD/JPY you may BUY at 120.20 and SELL at the same time at 120.16, therefore you would automatically inccur a loss once you enter a trade. so you got to wait for the selling price to go up past the asking price in order to make a profit. So when the selling price goes up to 120.30 you make a profit of 10pips. The broker make money on the difference in the BUY and SELL in this case which is 4pips. They also liquidate you account if your trade goes bad and you cant hold a position.
I suggest www.babypips.com school and you do more research on this before you even get into it.
I HAVE TRYING TO LOGIN AFTER I WAS KNOCKED OUT OF FOREX.COM FOR THE PAST 30 MINUTES. UNABLE TO. BE VERY SUSPICIOUS OF THESE. I WAS ABOUT TO CLOSE A PROFITABLE TRADE THIS IS NOT THE FIRST TIME. THIS IS THE TRICK THEY AND FXCM USES.
I AM MAKING NOTES OF THE TIME AND POSIITION. IF THEY CANNOT BRESOLVE IT THEN IT IS JAIL TIME FOR SOMEONE:mad: