Sunday, July 11, 2010

Forex Compared To Stock Market

You have to first open an online trading account with a forex broker to get started trading in the currency markets. Normally identification such as your passport of drivers license is required to begin the process.

One of the attractive things about forex is that you don't need a lot of money to begin trading compared to other markets such as the Stock market. Most online forex brokers allow you to open an account with no minimum deposit at all or as low as a $250 minimum.

Most brokers allow you to make deposits though credit cards, checks, wire transfers or some other payment online payment such as Paypal. Most brokers are flexible in the ways you can make deposits and fund accounts to give you a chance to get started trading.

One important thing to remember is that is is important to check out your brokers polices for making withdrawal. A good rule of thumb no matter the brokerage you trade with is ti withdraw a small amount of money right away so that you understand and are familiar with the process.