can an indian citizen open an FX account for currency trading..?
Yes, In fact Indians have had that option longer than U.S. citizens have. At any rate if you want to open an account and desire guidence as to which firm to open one with I can also help you there. Which firm you decide to go with will have tremedous impact on wether you make money or not. Many of the firms out htere and in the U.S. especially will cheat you at every turn if you let them get away with it. To take a look at those that I recommend visit my site http://www.forextradersinc.com
March 28th, 2010 at 4:15 pm
Yes Of couse. But you need to know somethings about Forex. There are many-many advantages over the various other ways of investing. First of all it is a 24 hr market, except for weekends of course. You have the US market then the European and then the Asian. One of the great times to trade is during the over lapping periods. The USA and European overlap between 5am & 9am eastern and the Euro & Asian between 11pm to 1am eastern. It’s usually the busiest time and best to trade.
There is also the risk factor for the accounts. With futures and options you can get margin calls that can wipe you out. If you get caught in a bad trade not only do you lose the money in the account but you may have to come up with a lot more from your pocket. It can be very risking, but not in Forex. Worst case scenario you could lose what’s in you account. But you would have to do something really stupid. Like making a big trade on a Fundamental day and leave it alone. If market takes a bad move and you weren’t there. OOOPS. But that wouldn’t happen with a smart trader.
Then there are the demo accounts which are an account where you can trade using all the right things, platform, charts, and information. But you are using play money, or what we call paper trading too. Plus with Forex you have a mini account. Instead of needing thousands of dollars to get into it, you can open an account with as little as $300.00. Now of course you will be trading at 1 tenth of a trade. IN other words you controlling 10,000 instead of 100,000.00 these are call lots. Which also means you will only risk 1 tenth too!
So if you would love to learn to do investing and not have near the risk you really need to take a closer look at Forex trading.
Investing in foreign currencies is a relatively new avenue of investing. There are considerably fewer people are aware of this market than there are people aware of several other avenues of investing. Trading foreign currency, also known as Forex, is the most lucrative investment market that exists. There are several factors that make this true among which, successful Forex traders earn realistic profits of one hundred plus percent each month. Compared to some of the better known investment markets such as corporate stocks, this is an unheard of return on investment. It’s very necessary to mention here that a person who invests in Forex must, without exception, make it a point to learn the detailed, but simple strategies and information surrounding the market. This very fact is what makes the difference between successful Forex traders and other traders.
References :
http://investments–info.blogspot.com/2007/10/forex-trading.html
March 28th, 2010 at 4:27 pm
Yes, In fact Indians have had that option longer than U.S. citizens have. At any rate if you want to open an account and desire guidence as to which firm to open one with I can also help you there. Which firm you decide to go with will have tremedous impact on wether you make money or not. Many of the firms out htere and in the U.S. especially will cheat you at every turn if you let them get away with it. To take a look at those that I recommend visit my site http://www.forextradersinc.com
References :
http://www.forextradersinc.com