Forex
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New to Forex Trading
If you are new to FOREX trading this section will help you understand how to get started
Forex (or foreign exchange) trading allows you to speculate on the strength of one currency versus the weakness of another. Currencies are quoted as “pairs” meaning that for example, the British Pound vs. US Dollar is quoted as GBP/USD.
Why trade with ODL Securities?
is a market leader in the forex industry. The company strategy is to offer competitive spreads combined with excellent customer service and the latest in trading technology.
- Platform – MT4
- Products – Forex, Oil, Gold & Silver, Indices, CFD stocks
- Spreads:
Example Currency Pair Target Spread Euro vs US Dollar EURUSD 1.8 pips Sterling vs US Dollar GBPUSD 2.5 pips US Dollar vs Japanese Yen USDJPY 1.8 pips
Why use an FSA regulated broker?
ODL Securities is regulated by the Financial Services Authority in the United Kingdom, its FSA registration number is 171487 and you can view the details on the FSA Register.
How safe are my funds?
The FSA guarantees safety of funds for Retail Customers by up to £50,000 through the Financial Services Compensation Scheme. This means that in the unlikely event of ODL Securities suffering any financial problems, you would have the above guarantee.
Is forex trading risky?
Forex trading carries a lot of risk because it is traded using leverage. This means that when you make a trade you do not need to settle the full value of the contract, instead you pay a deposit and then settle the profit/loss difference on a daily basis. The profits and losses are based on the actual value of the contract meaning that they can be disproportionally greater relative to the initial deposit.
If you are new to trading you may wish to consider using our Discover FX account which allows you to start with a small amount of funds and ensures that you never lose more than your initial funds.
It is important to us that you understand the risks involved with trading so please feel free to contact us if you would like to speak to one of our friendly account executives on +44 (0)207 903 6550 or complete a contact request form.
