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You should be congratulated if you are deciding to open a
live Forex account! It can be assumed that are confident enough about the Forextrading procedures and have ample confidence on the use of the account
controls. When you are ready to trade, you should immediately ask your trading
service provider for a live account. Wait, one thing you should be reminded!
Have you checked a few key factors before opening a live account in Forex?
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market, commodity prices, commodity trading, currency market, crude oil
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Below are three key points of a check, you can also take it
as essential parts of a checklist to open a live Forex account.
The license of the
service provider – One of the essential points you should check before
taking any live account from any trading service provider is its license to
allow you trading in the international market. Every service provider takes a license
from regulators like Seychelles Financial Services Authority (SFSA), Financial
Industry Regulatory Authority (FINRA) and others to become a trading service
provider. You just have to check from which authority your service provider has
taken permission to allow traders like you to trade in the Forex market.
Account opening
charges – While all most all the demo accounts are free, you need to know
how much you would be charged to open a live Forex account with your service
provider. Very few trading service provider would provide you a free account;
others may be asking for an account opening balance of $ 100 or 200 instead of
any service charge. Whatever is the case, you can make it sure before opening a
live account to trade in the Forex market.
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Trading commission
& spread – The next big thing to consider is the service charges you
would be levied for trading. There could be two types of charges; one being a Commission
on some fix rate basis and the other one is the Spread that varies according to
trade volume. Charges vary from one to another service provider, some even
claim to provide a free service for a certain period or volume of trade. Make
sure you take advantages of those options and stay in gain.stock prices, stock trading, stock trading apps,technical
analysis, swing trading,
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When you have checked all these three key factors before
opening a live Forex trading account, one more thing you should confirm; how is
the support of the service provider? Forex market is a 24/5 operational so you
need to make sure the service provider gives you similar type of services. Apart
from that, clear from them how do they support (phone, email etc.) clients? Have you already checked it? If yes, start
trading now!
