What types of accounts are available for forex trading?

There are many different types of forex accounts available to the retail forex trader.
Demo accounts are offered by forex brokers as a way to introduce traders to their software and execution methods.
live account is an account opened by traders with real money deposited in order to start trading for real profitMini accounts, and full accounts are the most common types of funded accounts. Mini accounts are similar to regular trading accounts; however currency is traded in lots of 10,000 rather than 100,000. This allows for lower mandatory initial deposits, and greater customization of risk management.It is important that the currency trader consider what they want to get out of their account, before deciding on the type to open. Demo accounts, and mini accounts, are great for the retail forex trader to learn a profitable system, and get used to the execution methods of the broker. For the currency speculator that doesn't want to trade by themselves, a managed account would be better.

Trade, Compete, and Win with ForexGen

ForexGen has the pleasure to announce the launching of the Demo Account contest on the first of every month.

1. All participants that manages to open at least 20 lots will be awarded a Live Account with $50 credit .

2. All participants that manages to open at least 20 lots and keep their demo account initial balance will be awarded a Live Account with $100 credit .

3. The highest 5 accounts with the highest profits (including the floating P/L) will be awarded a Live Account with $250 credit. The contest starts on the first Sunday of each month at 10 pm GMT and ends on the last Friday of that month at 10 pm GMT.

Read More….

ForexGen Trading Rules " Long Trades "

Rule 1
The 89’s and the 144’s on the 4 – hour chart and on the 30 – minute
chart must both be in buy mode. By buy mode I mean that at some point the 89’s have crossed over the 144’s.
Rule 2
The TI (trend indicator) must be in buy mode. The TI must just be changing from down to up or already be in buy mode.
Rule 3
Once these conditions have been met then we use the 30 – minute
chart for our entry, exit and target. The 5 - minute chart is used to onitor the position. It can also be used to enter the market once you gain more experience.
Rule 4
We only enter on a 38.2% retracement. You only place your stop loss under the 61.8% retracement and you only use the targets provided by he RPC.
Rule 5
You only select trades where the potential reward is at least twice the otential loss.

Reading FOREX quotes with ForexGen

Each world currency is given a three letter code which is used in FOREX quotes. The most common currencies are USD (US dollars), EUR (European euros), GBP (United Kingdom pounds), AUD (Australian dollars), JPY (Japanese yen), CHF (Swiss francs) and CAD (Canadian dollars).
Prices of foreign exchange are indicated by FX quotes in pairs of currencies. The first currency is the 'base' and the second is the 'quote' currency. In this example:
USD/EUR = 0.8320
...the currency pair is US dollars and European euros. The base currency (USD) is always at '1' and the quote currency shows how much it costs to buy one unit of the base currency. In this example, 1 US dollar costs 0.8320 euros.
Conversely...
EUR/USD = 1.1993
...tells us that it costs 1.1993 US dollars to buy 1 euro.
When the price of the quote currency goes up it indicates that the base currency is becoming stronger – one unit of the base currency will buy more of the quote currency. If the quote currency falls, however, the base currency is becoming weaker.
Foreign Exchange quotes are seen in 'bid' and 'ask' prices. Bid is the price that buyers will pay for the base currency (while selling the quote currency), and ask is the price that sellers will sell the base currency (while buying the quote currency).
Symbol
Bid
Ask
USD/CAD
1.2329
1.2379
This chart tells us that we can buy one American dollar for 1.2379 Canadian dollars, or sell one American dollar for 1.2329 Canadian dollars. The most commonly traded currencies pairs are the 'Majors' – GBP/USD, EUR/USD, AUD/USD, USD/JPY, USD/CHF, and USD/CAD.
We often see exchange rates listed in cross currency charts that list many different currencies and their values against each other. An example of such a chart is seen here:


US $
Ca $
Euro
UK £
US $
1.00000
1.24070
0.83953
0.56807
Ca $
0.80600
1.00000
0.67657
0.45841
Euro
1.19114
1.47805
1.00000
0.67755
UK £
1.7603
2.18147
1.47591
1.00000
In this chart, the currencies listed down the left side of the chart are the base currencies and the currencies at the top are the quote currencies. We can convert the chart above into currency pairs by following the row beside the base currency. Using US dollars as the base currency we get the following currency pairs:
USD/CAD = 1.24070 USD/EUR = 0.83953 USD/GBP = 0.56807
...which tells us that one US dollar is equal to the corresponding value of the quote currency. To find the opposite pair e.g. CAD/USD follow the Canadian dollar row to the US dollar column - CAD/USD = 0.80600 (one Canadian dollar is worth 0.80600 US dollars).
There is no standard for cross-currency charts – some have the base currency on the top and some have it on the side. How to tell which is which? You need to know at least one pair of currencies and which one of the pair is more valuable.
Currency prices are determined by a number of factors, the most important of which are economic and political conditions in the issuing country. Political stability, inflation, and interest rates are all factored into the price of any currency. In addition, governments can try to control the price of their currency by either flooding the market (to lower the price) or buying extensively (to raise the price).
Because of the immense volume of FOREX, however, it is impossible for one force to control the market for any length of time. Market forces will prevail in the long run, making FOREX one of the most open and fair investment opportunities available.

Introducing Broker with ForexGen

Introducing Brokers may be individuals or institutions who gain their income from the commissions and/or rebates by introducing customers to ForexGen trading.
WHAT are the advantages of being an INTRODUCING BROKERS with ForexGen?
Providing the most huge income sharing plan
Providing several ways for our IB's to charge commission.
ForexGen IB can also charge commission for each lot the traders execute.
Moreover, ForexGen IB is able to increase the spread for all or certain clients and have ForexGen Investments rebate the difference.
In case the IB does not increase the spread or charge their clients a commission, ForexGen rebate the IB a minor predefined amount for every client's executed lot.Commission is paid out every month.
Individualized service
ForexGen offers our IB's individualized service created according to the individual needs and specified business situation for each IB.Our Introducing Broker program provides a highly organized program for individualized services and organizations in order to introduce their clients to the online foreign currency exchange market, moreover they will enjoy the benefits of being a part of the ForexGen family.
Instant order execution.
No dealing desk.
Low spreads.
Free qualified forex charting .
Real time streaming news.
ForexGen main focus is on our client's profitability and satisfaction which increase their online forex trading life time. At ForexGen the trader has the ability to spend most of the time controlling and performing their business rather than troubleshooting.The most competitive trading conditions:
2 pips spread on six currency pairs.
Leverage of 200:1 leverage for accounts.
Without maintenance margin, our services offer margin call and automatic closing of positions below the initial margin on weekdays for accounts with initial equity of up to $1 million US.
The minimum account size with a 250 US has the ability to execute a lot of trading lots.
Qualified and familiar multilingual platform!
Streamline dealing with no request for quote for up to 20 million.
The ForexGen online Trading platform offers traders to do currency trading in pairs. We also allow trading Gold and Silver with the 'one click trading' mechanism.