These are general notes. Check Refco website for further details or any trading restrictions and dealing rates.

Refco offers trading technology and a forex dealing platform for beginners or industry professionals. The Refco trading platform allows Forex beginners to learn Forex live with minimal investment!.

Refco may offer a trading platform * virtual demo accounts that allow dummy trades - ideal for beginners. * Check at Refco - Bankruptcy for further details. (Also check Refco site latest dealing rates)

Refco offer competitive trading conditions for Forex professionals, as well as beginners, all around the world, and provides a dedicated Forex trading server and experienced customer support as well as analysis of Forex market and a professional affiliate program.

Refco offer leveraged trading with minimal deposits and instant execution of orders also Refco offers charts, technical indicators and automated trading systems to customers from any country in the world and giving access to online-trading at very competitive prices.

These are general notes. Check Refco website for regulatory details, any trading restrictions and dealing rates.

Visit the website at Refco - Bankruptcy

Forex FAQ's

What is currency trading?
Trading in the exchange rate between two currencies.
The exchange rate or foreign-exchange rate, forex rate or FX rate between two currencies specifies how much one currency is worth in terms of the other - and it is possible deal - buy - sell - trade the currencies at prevailing rates

It is the value of a foreign nation’s currency in terms of the home nation’s currency.

The spot exchange rate refers to the current exchange rate. The forward exchange rate refers to an exchange rate that is quoted and traded today but for delivery and payment on a specific future date.

How does currency trading work?
All currency is traded in LOTS. Each lot has a different amount of currency. A trader may open a margin account, enabling him the right to trade lots in the currency.

What is a margin account?
A margin account is a bond account. Before you start currency trading, you need to place a certain amount into account to guarantee other traders you can pay them if you lose. This account is monitored by your broker and he will not allow you to risk more than you have. When you win/lose it's a place to deposit/withdraw the money.

How is money made on currency trading?
Currency trading is carried out on a point (or pip) system. Traders are trying to capture points. Depending on the currency, each point is worth a different amount. For example, the British Pound is worth about $10 per point that is traded per lot. If you trade 1 lot and capture 40 points, you make $400. 10 lots and 40 points bring $4,000.00, etc.

Am I buying actual currencies when I trade?
No. With your margin account, you are buying the right to trade one "lot" of a currency. Each lot equals a different amount of currency, depending on the currency being traded versus the US dollar.

What is Day Trading?
As the name implies, the opening and closing of positions within the same days market session - whether in currencies, commodities or stocks is known as Day Trading.

Many traders open and close many positions during the market session - known as intraday trading.

What percent of people really earn money on the Forex currency trading?

10 % make money and 90% lose money on currency trading! Many who enter the currency trading market driven by greed and fear and may lack a sound risk management plan. Those that have established an understanding of the opportunities, risks and possible systems stand a reasonable chance of minimising losses and coming out of trading sessions, maybe on a weekly basis if not by the day, in profit.

It is important to understand risk and systems associated with currency trading. Speculators are urged to test systems in a virtual trading enviroment. It is important to rigidly stick to sell points indicated by any system in order to limit possible downside.

Is currency trading gambling?
Currency traders hope to exploit price fluctuations and investors seek return on investment. Both take a calculated risk that is minimized by knowledge. Like any speculation Currency trading is gambling if you trade on a "whim", trade emotionally or on advice of a "hot tip".
Develop systems that are going to work for you ! Trade in a dummy account. Test your systems before using real money.

Trading derivatives such as CFD's, Forex, Futures, Options or Spreadbetting carries a high level of risk not be suitable for all investors. Traders should be confident in the risk profile, control systems, training and knowledge. Live derivatives trading not suitable for inexperienced traders.

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