Re:
Forex trading is very popalur, but if you are new to trading I must warn you:The Forex markets are extremely volatile, and you can easily make (or lose) thousands of dollars in a day. Many Forex brokers offer free quotes and charts and no commissions , but keep in mind that nothing is for free: You are paying a spread, i.e. you can NOT buy a currency and immediately sell it for the same amount. It's like at the exchange booths that you know from your holidays: You exchange $ 100 into 80 Euro, but when you change the 80 Euro back into dollars, you only receive $ 96. Same when trading Forex: You are paying at least 2 pips . This amounts approx. $ 20, depending on the currency pair you're trading. Another disadvantage of Forex trading is that you are NOT trading at an exchange: There is no Foreign Exchange . You are trading against your broker: If you are selling, then your broker is buying from you and vice versa. And that's why your broker is giving you the quotes for free: He can basically give you *any* quote since there are no regulations. Scary, isn't it?So basically I support kzajko's answer: Don't.If you really want to trade currencies, consider trading currency futures. First of all you make $ 12.50 per pip (instead of approx. $ 10 in the Forex market), it is regulated and you get good margin rates, too.Don't fall for no commissions and free quotes . It's a sales gag!Hope that helps.