I am a long time stock and commodity trader (6+ years), and am looking at getting into the forex market over the next month or two.
I look at all the brokers listed at fxstreet.com and have a few questions:
1. Should I choose an overseas broker (e.g. Switzerland, UK) - it seems like they have tighter spreads. I am a California resident.
2. Some overseas brokers talk about swaps as some kind of commission/fee for a trade - what are they exactly?
3. Is it beneficial to have fractional lot sizes when placing orders?
4. Who do you and have you traded with, and which broker have you liked/disliked?
5. The consensus on chat boards seems to be Oanda.com as a winner... Does anyone have any advice on this broker?
Thank you for any help!
I look at all the brokers listed at fxstreet.com and have a few questions:
1. Should I choose an overseas broker (e.g. Switzerland, UK) - it seems like they have tighter spreads. I am a California resident.
2. Some overseas brokers talk about swaps as some kind of commission/fee for a trade - what are they exactly?
3. Is it beneficial to have fractional lot sizes when placing orders?
4. Who do you and have you traded with, and which broker have you liked/disliked?
5. The consensus on chat boards seems to be Oanda.com as a winner... Does anyone have any advice on this broker?
Thank you for any help!