Qu re opening Forex trading accounts
Posted: Wed Feb 23, 2011 12:35 am
I am getting to the stage of opening an account (demo only to start) to trade Forex and have a couple of questions raised by this, if anyone can enlighten me?
1) Not fantastically relevant from a demo account POV I guess, but more relevant for a live account perhaps? -> Given the option to open trading accounts with funding from various currencies, what are the factors involved in choosing an individual currency for funding such an account? Say I am in UK but thinking of trading EURUSD, GBPJPY & USDCHF? <-- this is just an example and not thought out particularly, but hopefully you get the gist of my query: What are the factors in choosing the funding currency for a trading account? Is it dependent on the pairs you intend to trade, or where you reside; or where you are tax-domiciled? Am I being overly anal in my thinking, or is there something here to consider?
2) When you give these demo guys the *required* phone number to open your demo account - do they bombard you with calls from then on??
Thanks to anyone that answers.
1) Not fantastically relevant from a demo account POV I guess, but more relevant for a live account perhaps? -> Given the option to open trading accounts with funding from various currencies, what are the factors involved in choosing an individual currency for funding such an account? Say I am in UK but thinking of trading EURUSD, GBPJPY & USDCHF? <-- this is just an example and not thought out particularly, but hopefully you get the gist of my query: What are the factors in choosing the funding currency for a trading account? Is it dependent on the pairs you intend to trade, or where you reside; or where you are tax-domiciled? Am I being overly anal in my thinking, or is there something here to consider?
2) When you give these demo guys the *required* phone number to open your demo account - do they bombard you with calls from then on??
Thanks to anyone that answers.