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Special agents or firms whose business is working with buying and selling currency are called forex brokers. They become a link between a currency buyer and a seller. Forex brokers earn money on the difference which appears between the bid and ask rates in a currency pair. For instance, a broker can spend 1.5475 American dollars on buying euros and then sell this sum for 1.5478 U.S. dollars. So the broker gets $0.0003 on each sold euro.
Forex brokers are presented by two established types at the market. The term Electronic Communication Networks, or ECNs for short, is used for Interbanks brokers. They offer free interaction between banks and brokerages and other forex trade participants. Spreads are usually lower in ECNs because they include either a commission or a flat fee. ECN brokers don’t charge a high fee for their services. The second group of brokers is known at forex markets as а Retail Forex company, or market makers. Their main goal is to organize online trading systems for forex traders. Market makers deal with buying and selling currency for their own accounts in order to get an income. So they can trade against you. People who are just beginning their forex career or who don’t have enough money for large investments often begin trading online in Retail Forex companies. Such companies allow their clients to trade online with a small quantity of money and gain some practice so they can develop the skills needed for real trading.
The Global Net has made Forex trading wide-spread and easily accessible for everyone. But the main disadvantage of the trading online system is that your business partners are out of sight. So if you have plans to join Forex in the UK or any other country in the world, you ought to check a chosen broker, his reputation, and regulations very carefully. Globe Gain rebate service advocates safe trading. Here you can find only licensed Forex brokers who will help any person to take up online trading with Forex, not only in the UK, but also in Australia, Germany, Switzerland,Spain, India and other countries.