What is a Forex account?

The foreign exchange market, which is usually known as "forex" or "FX," is the largest financial market in the world. Compared to the $74 billion a day volume of the New York Stock Exchange, the foreign exchange market looks absolutely huge with its $4 Trillion a day trade volume.

Anyone can participate in the colossal world of forex, however to learn how to trade takes many years of live trading experience and 95% who try it fail because they find it so stressful when trading with their own money on the line.

For this reason many people seek out professional traders to trade on their behalf. A forex account is opened at a reputable brokerage in a similar way that you would open a bank account.

There are many benefits and advantages of trading forex. Here are just a few reasons why so many people are choosing this market:

No exchange fees

No clearing fees, no exchange fees, no government fees.

No middlemen

Spot currency trading eliminates the middlemen and allows you to trade directly with the market responsible for the pricing on a particular currency pair.

No fixed lot size

In the futures markets, lot or contract sizes are determined by the exchanges. A standard-size contract for silver futures is 5,000 ounces. In spot forex, you determine your own lot size or position size. This allows traders to participate with accounts as small as $5,000.

A 24-hour market

There is no waiting for the opening bell. From the Monday morning opening in Australia to the afternoon close in New York, the forex market never sleeps. This is awesome for those who want to trade on a part-time basis, because you can choose when you want to trade: morning, noon, night, during breakfast, or in your sleep.

No one can corner the market

The foreign exchange market is so huge and has so many participants that no single entity can control the market price for an extended period of time.

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RISK DISCLOSURE: Even with a managed account service where a third party is trading on your behalf, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with alternative investments, and seek advice from an independent financial advisor if you have any doubts or concerns. The risk of loss in trading alternative investments including commodities, futures, and foreign exchange, can be substantial. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition. The high degree of leverage that is often obtainable in alternative investments including commodities, futures, and foreign exchange, can work against you as well as for you. The use of leverage can quickly lead to large losses as well as large gains. One must always understand that there is always a relationship between high reward and high risk. Any type of market or trade speculation that can yield an unusually high return on investment is also subject to unusually high risk. Only funds you can afford to lose should be placed at risk and anyone who does not have such funds should not participate in alternative investments including commodities, futures, and foreign exchange. I also understand that Forex Managed simply acts as introducing agent to the managed accounts. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

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