online forex trading system
The strict rules and protection from outside competition had led to consolidation among local brokers, with the most important development being the acquisition of FXCM client base by Gain Capital also known as Forex. Right now there are only three forex brokers in the United States, and one of them is mostly an institutional broker Interactive Brokers, so retail clients have basically only two choices Forex and Oanda. Because the CFTC and NFA regulation greatly limits leverage and has the unpopular FIFO rule, the US based brokers have been unable to get traction in foreign markets and the vast majority of their clients are from the US. This is where most of the large forex companies are located. Because of Europe's cultural and linguistic diversity, local brokers had to adapt early to very different markets and stiff competition, but this has proven to be a great asset when they expanded globally. European brokers are based in different countries and have multiple trading licenses, but the hot spots of forex trading in Europe are Cyprus CySEC and the United Kingdom FCA.
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Succeeding in forex market requires special strategies as it is really competitive.
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Forex traders learn to use sophisticated combinations of trades to manage risk.
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online forex trading system