The factors affect the currency markets

The factors affect the currency markets

There are many factors that can affect currency prices. The money supply, interest rates, Gross Domestic Product, Balance of Trade, political turmoil and many other components can influence currency values.

Is there a practice account to learn forex without risking any real money?

Yes, there is a forex demo trading account. This account allows you to trade forex with $50,000 in virtual equity for 30 days. This enables you to test your trading strategies, risk management skills and also decide if forex trading is compatible with your risk tolerance and overall investing goals without risking any real money. To open a forex demo account you can visit www.tkfutures.com/forex.htm  and register for your free 30 day forex trading

options on the forex market

You can buy and sell calls and puts on the various foreign currency pairs.

Try out the free 14 day forex option demo account

Who should you choose as a broker

First, you should check up on the clearing firm to ensure that they are registered with the National Futures Association (NFA) and the Commodity Futures Trading Commission (CFTC). Unfortunately, there are many forex scams artists out there so be careful.

Secondly, decide if you like the service that you are receiving. When working with an introducing broker, you have the added advantage of having two different sources of information and contacts because you can speak to your broker during daytime trading hours and the clearing firm will often have a 24 hour help line. This means that day or night you can have access to a real live person.

If you are happy with the legitimacy of your chosen clearing firm and happy with the service of your introducing broker and sure that the risk of forex trading is appropriate for you, then it is time to open a live forex trading account.