Hello,
I would like to trade forex, but not forex cfds. Do IG Markets offer pure forex trading, or forex cfd?
Best Regards
without using practically thats really difficult to recommend at any kinds of broker , because most of brokers right now are found to be scams.
They offer both.
check this out - Open a Forex Account and Trade Online with the UK's No. 1 FX Broker | IG UK
have you checked its review in FPA which is the best place to ensure real broker.
CFD trading and Forex trading have many similarities. First, both types of trading involve a similar trade execution process. Traders can easily enter or exit the market in both rising and falling markets. Second, both CFD trades and Forex trades are executed on the same platform, using similar looking charts and pricing methods. In both cases, trades are executed in the over-the-counter (OTC) market, which is run entirely electronically within a network of banks, with no physical location or central exchange. Another similarity between CFD trading and Forex trading is that the only cost of trading is the spread, as opposed to other types of trading instruments that charge commissions and other finance fees.
The primary similarity between CFD trading and forex trading is that the trader doesn’t actually have ownership of the underlying asset. When one buys EURAUD, for instance, one is not actually purchasing Euros and selling Australian dollars; rather the trader is simply speculating on the exchange rate. Likewise, when a trader purchases a CFD contract on the FTSE 100, the trader is not actually owning the stocks in the FTSE index, but rather is speculating on its underlying price. In many ways, forex is simply another kind of CFD.
The main differences between CFD trading and Forex trading is that CFD trading involves different types of contracts covering a diverse set of markets, such as indices, energy, and metals, whereas Forex offers pure currency trading. When you trade CFDs, you have the opportunity to select different contracts that vary in increment value and currency type, depending on the country in which the underlying asset originates. Forex trading is about trading one currency against another currency and always involves trading in uniform lot sizes.
A final difference between CFD trading and Forex trading relates to the general factors that tend to influence the different markets. CFD trading is mostly influenced by specific factors, such as supply and demand of a given commodity or trend changes associated with business sectors. Forex trading, on the other hand, is mainly driven by global events, like large employment shifts or international political changes.
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I think it’s pretty easy to predict if the broker is a scammer or not. You just have to search for their existence on the market. The more, the better, it’s obvious, and fewer chances to be a scammer. I’m not that much into Forex trading, I like CFDs, although, as most of you, I started with Forex. If someone’s interested in CFD brokers, I use Investous (visit site). There’s not that much difference between them, as Synenergia mentioned. Forex is just another kind of CFDs. Why do I like CFDs so much? Because, as was mentioned in the previous post also, they’re driven by specific and easy to predict factors, as demand and supply. How many of you were shaking during an event that was expecting to move the price for some currencies? With CFDs, you don’t have that.
Check up on the spreadbetting accounts offered by these firms too (if spreadbetting is legally permitted where you live). It offers a low cost account and in the UK gains are tax-free.