When you first set up your account with Easy-Forex, you will probably want to start with a mini-account which has a minimum deposit of only $50, and a 10-pip spread. (This is assuming you're a newcomer to Forex trading)
(Be careful if you keep only a small amount in your account. In a day-trading deal (see yesterday's post) if you set a stop-loss using your entire account balance, and there is nothing left in your account, Easy-Forex will bill your credit card for the daily renewal fee. You would be better to set the stop-loss to ensure there is something left in your account.)
When you become more experienced at Forex trading, there are other account types you may want to move to:
- Gold account - 7-pip spread
- Platinum account - 5-pip spread
- Tailor-made Import-Export account = 3-pip spread.
Because Easy-Forex earn their money from the spreads, they don't charge ANY commission on trades (apart from the daily renewal fee on day trades). So all your profits are commission free. Find out more from http://www.bizwrite.co.uk/Forex/forexindes.html
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