There are two main types of retail FX brokers offering the opportunity for speculative currency trading: brokers and dealers or market makers. Brokers serve as an agent of the customer in the broader FX market, by seeking the best price in the market for a retail order and dealing on behalf of the retail customer. They charge a commission or "mark-up" in addition to the price obtained in the market. Dealers or market makers, by contrast, typically act as principals in the transaction versus the retail customer, and quote a price they are willing to deal at.
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Forex FAQ
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QUESTIONS ANSWERED...
How Can I Get Started With Forex?
Answer...
Step 1: Choose a broker and create an account
Step 2: Take the trading platform in hand
Step 3: Train on a demo account
Step 4: Make your first deposit
Step 5: Start trading in real money
What should I look for in a Forex Broker?
Answer...
1. Commissions:
2. Spread
3. Rollover
There are NO guarantees of success, no matter which system, strategy, or program you might be using. A good rule of thumb is that if someone PROMISES you success in trading, you will likely experience the exact opposite of that. Don’t hand over your money for what they are trying to sell you. So, while “Is Forex Trading Expensive?” can be relatively easy to answer in terms of transactional costs as listed above, there is always the chance that your actual trading capital can be lost and that’s the part of trading that can make it expensive.