Step 1 Choose an online Forex Firm

What to look for in an online Forex Firm:

1. Low Spreads.

In Forex Trading the 'spread' is the difference between the buy and sell price of any given currency pair. The lower the spread saves the trader money. Most firms offer 4-5 pip spreads in the Major Currency pairs. The best firms offer clients 3-5 pips.

2. Low minimum account openings.

For those that are new to trading, and for those that don't have thousands of dollars in risk capital to trade, being able to open a mini trading account with only $200 is a great feature for new traders.

3. Instant automatic execution of your orders.

This is very important when choosing a Forex firm. You want instant execution of your orders and the price you see and 'click' is the price that you should get. Don't settle with a firm that re-quotes you when you click on a price or a firm that allows for price 'slippage'. This is very important when trading for small profits.

4. Free charting and technical analysis

You need a firm that gives you access to the best charting and technical analysis available to active traders. The firm that I recommend gives clients FREE professional charting services and even allows traders to trade directly on the charts!

5. High Leverage

You want high leverage—the ability to trade a large amount with a small margin deposit. Some of the best firms offer .25% or 400:1 leverage.

6. Hedging Capability

You want the flexibility of opening positions on the same currency pair in opposite directions without them eliminating each other and without margin increase!

Here is a list of some of the main Forex trading Firms on the Internet. After a lot of research and personal experience, the firm that I recommend with the above-mentioned benefits is Capital Markets Services LLC (CMS Forex LLC). You can research the rest of the firms listed to see for yourself.

**CMS Forex www.cms-forex.com

ACM Advanced Currency Markets

Fairlot Financial Group

Forex Capital Markets

GAIN Capital

GCI Financial, Ltd.

Global Forex

IFX Markets Limited

London Capital

Meridian Forex Pty Limited

MG Financial Group

SaxoBank

Tricom

Basics Of Forex

Basics Of Forex

Insider Techniques To Profitable Forex Trading. In any business or moneymaking venture, preparation and foreknowledge are the keys to success. Without this sort of insight, the attempt to make a profitable financial decision can only end in disaster and failure, regardless of your level of motivation and determination or the amount of money you plan to invest

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