Advantages of the Forex Market

What are the advantages of the Forex Market over other types of investments?

When thinking about various investments, there is one investment vehicle that comes to mind. The Forex or Foreign Currency Market has many advantages over other types of investments. The Forex market is open 24 hrs a day, unlike the regular stock markets. Most investments require a substantial amount of capital before you can take advantage of an investment opportunity. To trade Forex, you only need a small amount of capital. Anyone can enter the market with as little as $300 USD to trade a "mini account", which allows you to trade lots of 10,000 units. One lot of 10,000 units of currency is equal to 1 contract. Each "pip" or move up or down in the currency pair is worth a $1 gain or loss, depending on which side of the market you are on. A standard account gives you control over 100,000 units of currency and a pip is worth $10.

The Forex market is also very liquid. When trading Forex you have full control of your capital.

Many other types of investments require holding your money up for long periods of time. This is a disadvantage because if you need to use the capital it can be difficult to access to it without taking a huge loss. Also, with a small amount of money, you can control

Forex traders can be profitable in bullish or bearish market conditions. Stock market traders need stock prices to rise in order to take a profit. Forex traders can make a profit during up trends and downtrends. Forex Trading can be risky, but with having the ability to have a good system to follow, good money management skills, and possessing self discipline, Forex trading can be a relatively low risk investment.

The Forex market can be traded anytime, anywhere. As long as you have access to a computer, you have the ability to trade the Forex market. An important thing to remember is before jumping into trading currencies, is it wise to practice with "paper money", or "fake money." Most brokers have demo accounts where you can download their trading station and practice real time with fake money. While this is no guarantee of your performance with real money, practicing can give you a huge advantage to become better prepared when you trade with your real, hard earned money. There are also many Forex courses on the internet, just be careful when choosing which ones to purchase.

Forex Market Hours

Unlike other financial markets, the Forex market operates 24 hours a day, 5.5 days a week (6:00 PM EST on Sunday until 4:00 PM EST on Friday). Through an electronic network of banks, corporations and individual traders exchange currencies, though as the market is primarily used as a means for speculative investing, actual physical delivery of currencies is almost never intended. Forex trading begins every day in Sydney, moves to Tokyo, followed by Europe and finally the Americas.

How do you access the market?

It is important to note that retail traders, such as yourself, will most likely be accessing the off-exchange foreign currency market (or Forex market) via an FCM (Futures Commissions Merchant) or broker. You will not be trading in the actual Interbank market itself. Your access to the total market will be determined by your chosen broker's limitations.

FCMs or brokers act as a bridge between you and their liquidity partner (sometimes larger global banks) that you would otherwise not have sufficient capital to do business with. 
The large majority of off-exchange retail foreign currency brokers act as market makers, meaning that by keeping many trades in house they create their own liquidity. Some retail brokers clear trades directly through to the larger banks that provide their liquidity. If you are new to the Forex market it would wise to research and understand your broker's particular business model and method of clearing trades.

A Global Market

The example above illustrates foreign currency trading in basic terms as it relates to world travelers. However, the market is also utilized globally by each country's central bank (i.e., America's Federal Reserve), investment and commercial banks, fund management firms (mutual funds and hedge funds), major corporations, and individual investors or speculators. Depending on the timing of such transactions, purchasing a currency with the intent of later selling it at a better exchange rate (and vice versa) can potentially yield profits for investors, of course there is a strong potential for loss trading currencies as well.

Utilization by so many parties is why the Forex market is the world's largest financial market. This mind boggling volume is probably what led you to research the topic.

What is Forex?

The off-exchange retail foreign currency market ("forex") describes the purchase of a particular currency from an individual or institution and the simultaneous sale of another currency at the equivalent value or current exchange rate. Essentially, the process of exchanging one currency for another is a simple trade based on the current rates of the two currencies involved.

At the core level of the world's need for money exchange is the international traveler. When traveling from the US to England, for example, you will of course need the local currency to pay for transportation, food, and so on. Upon arrival at the airport you will surrender (sell) your US Dollars in order to receive (buy) the equivalent in British Pounds. In this example, you sold the USD and bought the GBP, conversely the forex counter bought the USD and sold the GBP. The prices at which you buy and sell currencies are known as exchange rates. This rate or price fluctuates based on demand and on political and economic events surrounding each country's currency.

Profit Potential in Both Rising and Falling Markets

Like any market, there is always a buyer and a seller the world of currencies. The potential for profit will of course rally between the buyers and sellers, the longs and the shorts. Trading currencies in pairs offers the advantage of speculation from either side, but it is the volatility in combination with excellent liquidity that offers currency investors a true advantage over any other market. Regardless of the time of day, traders in the Forex market can long or short any currency pair of their choice.

Many brokers also offer hedging, meaning that traders can take a long and short position on the same currency pair. The market’s volatility provides the constant potential for gain, and of course, the constant potential for loss as well. Forex trading can be risky, but execution in or out of trades should not be a problem when trading through a reputable broker. Equities traders, on the other hand, may have a much more difficult time liquidating stocks when the market is moving against them.

High Leverage

Leverage is the key to understanding the risk associated with trading the Forex Market, and of course, the potential for gain. Many Forex brokers offer leverage as high as 200 – 1, meaning that $50 of margin would control a $10,000 position in the market (this is an example of a mini lot). Forex trading is often attractive to investors coming from the equities market because Forex trading offers such high leverage. It is important to understand why Forex brokers offer higher leverage, and of course… the dangers associated with such.

To some extent, higher leverage is a necessary evil in the Forex market. It can offer advantages over equities trading, but only if it is properly understood and utilized. Though currency values on a global stage are constantly in a state of flux, high liquidity and market stability translate to relatively small daily price movements. In fact, average daily movement is around 1% on most major pairs. Compare that to the equities market, where average daily movements are closer to 10% and it is not hard to understand why large contracts are needed in order to yield profits on intraday price movements.

Without high leverage most retail investors would not be able to afford trading in the Forex market. However, with increased buying power comes increased risk. Traders who are new to the market often make the mistake of over-trading their account. Because relatively small margin is required to open large positions beginning traders often make the mistake of opening too many positions at one time. A quick market move can then result in substantial losses. IBFX would advise any trader new to the Forex market to trade only a very small percentage of their account at any one time.

Unmatched Liquidity

An investment market with lacking liquidity, or a lack of buyers and sellers at certain times, is often the demise of traders who need in or out of the market without delay. The global network of governments, banks, corporations, hedge funds, and individual traders that collectively drive the Forex market, are in essence, also driving the world’s largest network of liquidity. Such high trade volume works to ensure trade execution and the stability of prices, regardless of the time of day.

Equities traders, on the other hand, are more susceptible to liquidity risk and are subject to potentially wider dealing spreads and larger price movements. Liquidity in the equities market really does pale in comparison to that of the Forex market.

24-Hour Trading

Forex is a true 24 hour market, 5.5 days a week, which offers a major advantage over equities trading. Investors are able to trade at odd hours, thus allowing more flexibility for personal, business and social activities. Whether trading at 8am, 2pm, or even 2am, there will always be buyers and sellers actively trading foreign currencies. Such flexibility allows traders to immediately respond to breaking news and other political factors driving the market.

After hours trading in the equities market has several limitations. In the US, for example, equities traders have access to ECNs (Electronic Communications Networks), also known as “matching systems”. These networks are established to provide a method for equities traders to buy and sell amongst each other. Such networks are usually not able to offer as tight of spreads as would be offered during normal market hours, thus most trades are not executed at a fair market price, subsequently there is no guarantee that every trade will be executed.

Forex Advantages

Investors and speculators using the Internet as an investment tool will find that the Forex market offers several advantages over equities trading.

*200:1 is the entry leverage value. Brokerages will have margin calls set at different levels, exact leverage may vary.

**The trader's cost of doing business is called the Spread. It is the difference between the bid and the ask prices on your chosen currency pair.

Customer Service

CMS Forex’s customer service team is dedicated to improving your overall trading experience, giving you the support and attention you can and should expect from one of the largest retail Forex companies in the world. Friendly and helpful customer service representatives are available by phone, live chat, and e-mail during CMS Forex’s normal business hours. The Dealing Desk and Technical Support are available 24 hours a day.

Client support is handled by a professional staff that has been trained to uphold the highest standards of professionalism and friendly customer service. The multilingual customer support team is courteous, responsive to your needs, and — above all else — knowledgeable.

At CMS Forex we feel that just because our clients are located all around the globe doesn’t mean they should feel distanced from our staff. Each client is assigned a personal account executive dedicated to addressing their individualized needs and concerns. CMS Forex has account executives fluent in English, Spanish, Russian, Arabic, Mandarin, Cantonese, and Japanese.

Hedging

Hedging is an important risk-management tool for those traders that know how to use it properly. Hedging a trade allows you to maintain both a long and a short position on the same currency pair at a given time, at no additional margin. Holding two opposing positions at the same time offsets any risk because no matter which direction the market goes in, one of the positions will be showing a profit, and the other will always be running a similarly sized loss. Consequently, the trader does not lose or gain money due to market fluctuations on a hedged position.

Hedging an already open position involves placing an order for a new trade in the opposite direction. Normally, the two opposing trades cancel each other out, but with our hedging feature, both trades remain active.

Why would someone want to hedge?

Some traders utilize hedging as a means to temporarily offset losing positions until they believe the market direction has again turned in their favor. However, this strategy in effect locks in your losses from the original losing position if the market does not turn back in your direction.

An alternate method amongst traders using the hedge feature is to lock in profits. A need may arise to lock in profits when a trader sees a short term market move that goes against an open position that he or she is already holding.

For example, let’s say a trader buys GBP/USD because they identified a long term uptrend in the pair favoring the British Pound. Because the pair does not climb in a straight line due to natural market fluctuations, there are times when the US dollar does better, creating short term downtrends within the longer British Pound uptrend.

The trader already has an open long GBP/USD position, now he or she may want to short the pair during such a downturn. Without hedging, the trader would just close his or her original long position, short the pair, and when the short term trend reverses, rebuy another long position.

With hedging, the trader can offset his or her open long GBP/USD position by concurrently opening a short position. Both will remain separate and active. As the short downtrend progresses, the long position will be losing money, while the short hedge position will be gaining. When the trader believes that the downtrend is over, he or she will close out the short GBP/USD, at a profit. Assuming the long upward trend now continues the original long position will again begin to make money. However if the upward trend does not materilaize, and the market continues to move down against your long position, the position will lose money.

Hedging gives a trader added position management potential, along with extra flexibility in combating changes in the direction of the market. It is important that you fully understand how hedging works and how to properly use it before placing any hedge orders. Hedging is an additional feature we have added for the benefit of our clients, and is by no means a required action.

To hedge in VT Trader, simply right click on an open trade and select the hedging option; an identical position is opened in the opposite direction. This new position does not require extra margin and can be closed at any time. You can also place a hedge order by checking the hedge box on a new open position window. This will make sure your newly opened position does not close out any existing positions that are aligned in the opposite direction.

Note: Though clients will not incur any gains or losses on hedged positions due to market fluctuation, clients may incur minor losses on hedged positions due to rollover interest charges. Clients may also incur minor gains or losses on hedged positions due to changes in the value of previously incurred gains or losses that may arise due to a change in pip value on positions held in currency pairs where the counter currency is not the denominating currency of the account. Such losses are usually limited to a few cents per day or a few dollars or cents per standard lot. For example a client that hedged a USD/JPY position with a previously incurred gain or loss of 100 pips may gain or lose around $8 if USD/JPY moves by another 100 pips.

Margin and Leverage Options

CMS Forex offers 3 flexible margin requirement options. In an effort to maximize market accessibility while decreasing risk exposure for our clients we have designed a step based margin policy. Though we require a minimal amount of collateral for the first few lots, the more lots you trade at a given time the higher the margin requirement. Under Option 1, the default and most common choice, a margin of $250 per lot is required for your first 3 lots, $500 per lot for the next 7 lots, $1,000 for the next 40 and so on. The following table outlines the 3 Margin requirement options.

Leverage & Margin

The Forex market is exciting and accessible to small retail traders because of the industry’s high leverage options. Leverage gives a trader the ability to increase the potential return on an investment. Leverage works both ways however; it increases potential returns, but it also increases potential risk. Therefore leveraging magnifies both gains and losses.

Leveraging a position involves putting down collateral, known as margin, to take on a position that is larger in value. CMS Forex offers a maximum leverage option of 400 to 1. This means to take on a standard $100,000 lot or contract, a minimum margin of $250 is required.

How is this possible? In the Forex market, when trading the established currencies that CMS Forex offers, the amount that a currency changes in any given day is quite small. A one cent (or approximately 100 pip) change in the value of a currency is considered a large move. Therefore we can afford to hold a fairly small amount of collateral for any given position.

For example let’s take a trader with $1,000 in his account. Our trader buys 1 lot of EUR/USD at a price of 1.2750 with the 400:1 maximum leverage. His utilized margin is $250. If the position makes money, the gains are added to the equity in the traders account. Likewise if the position goes against the trader the losses are subtracted from the account’s total equity. If the price moves 100 pips in the trader’s favor (the exchange rate moves upwards one cent to 1.2850), then the trader would make a $1,000 profit ($10 per pip × 100 pips). The trader has effectively doubled the size of his account, a 100% return on his $1,000 account or a 400% gain on his $250 margin. Conversely if the position had gone at least 75 pips against the trader, his position would have been closed due to a margin call when his account equity dropped below his $250 margin requirement. The trader would have a loss of approximately $750, or 75% of his initial account, and about $250 remaining in his account.

Interest on Unused Margin

At CMS Forex we understand that you may have more money in your account than you need to routinely trade. In order to make that unused capital a source of revenue, CMS Forex offers our clients the benefit of earning interest on their unutilized funds.

Accounts with initial deposits of 10,000 USD or greater will receive 2% annual interest on unused margin if the unused margin is over 10,000 USD. To be eligible for this interest, a trader must open at least 15 standard 100K lots per month. CMS Forex reserves the right to alter the interest terms and schedule.

Rollover Interest

CMS Forex pays or charges clients rollover interest at competitive rollover rates for all open mini and standard positions.

At the end of the trading day, at 5 pm EST, an account with any open positions is either credited or debited interest on the full size of the positions. This is known as rollover interest. Rollover interest is calculated based on the full value of the client’s position rather than the value of the margin or collateral necessary to take on that position. A client holding one standard lot of USD/JPY, with $5,000 in his or her account will be assessed interest on the $100,000 of the position rather than on his or her $5,000 account balance. Whether an account is credited or debited depends on the direction of the client’s position and the interest rate differential between the two currencies involved. For instance, the primary interest rates in Great Britain are much higher than in Japan, so if a trader buys GBP, he or she will earn interest at 5 pm EST. On the other hand, if he or she sells GBP in this currency pair, he or she will pay interest at 5 pm EST.

Rollover refers to the process of closing open positions for today’s value date and opening the same position for the next day’s value date at a price reflecting the difference in interest rates between the two currencies.

In the spot Forex market, rollover is required because all trades must be settled in two business days. In accordance with international banking practices, CMS Forex automatically rolls over all open positions for settlement to the next date at 5 pm EST. Rollover involves exchanging the current position for a position expiring the following settlement date. For example, for traders who execute on Monday, the value date is Wednesday. An exception occurs when a position is opened and held overnight on Wednesday; the normal value date would be Saturday, but because banks are closed on Saturday, the value date is actually the following Monday. Due to the weekend, positions held overnight on Wednesday incur or earn an extra two days of interest. Trades with a value date that fall on a holiday also incur or earn additional interest.

Rollover interest can provide an added stream of profit or loss to a client. As an example, a trader that believes the Great Britain Pound's exchange rate will stay roughly equal to the Japanese Yen's for the next year, will buy the GBP/JPY pair since the Pound has a higher interest rate and will accrue rollover interest. An account would be credited around $20 a day* for a standard GBP/JPY lot. If this trader’s prediction comes true and the exchange rate is the same a year later, with fluctuations in between**, they would earn a year’s worth of interest on the position. Since there are around 365 interest bearing days in a year, that one standard lot of GPY/JPY could potentially earn $7,300 (365 × $20).***

* This rollover rate for the GBP/JPY is indicative of the rate on November 2nd, 2006. (The actual rate for long GBP/JPY on that date is $22.40)

** This example assumes the position does not receive a margin call during these fluctuations. See Trading Terms – Margin Call Policy for information on margin calls.

*** The amount here assumes that the interest rate differential between the British Pound and Japanese Yen did not change through the year.

Access to fundamental analysis tools

The Forex Capsule captures daily market changes and the fundamental factors that are behind them. 

Inside, you will find economic releases from around the world, weekly charts, as well as analysis and expert commentaries. 

Each week's data is “encapsulated” into easy to access archives, perfect for analyzing past market behavior.

100+ Technical Indicators

Over 100 technical indicators to empower your forex trading

CMS Forex offers over 100 of the most powerful technical analysis indicators available to traders. Below is a full alphabetical listing of the technical indicators available in CMS Forex’s currency trading system, VT Trader™. For an overview of any indicator listed below, simply click on its name. For an in-depth article on the use and implementation of a particular indicator you may click on the  icon next to the listing. With VT Trader™, you are able to modify existing indicators as well as create custom technical indicators from scratch.

Minimum Initial Deposit

Opening a live account with CMS is easy and affordable. You can begin trading today with only $200. Some forex brokers require a minimum initial deposit of upwards of $2,000. Our goal is to make Forex more accessible, especially for traders starting out for the first time, who want to minimize risk with a small investment.

We accept deposits in eight different currencies. The minimum initial deposit for each currency is as follows:

200 USD	300 CAD
200 EUR	150 GBP
300 AUD	300 CHF
300 NZD	25,000 JPY

Universal Accounts

Trade mini and standard lots on the same account!

CMS Forex allows clients to trade both standard sized lots and mini lots from the same account; this is what we call a Universal Account. In the Forex market the standard contract is called a lot. A lot is equivalent to 100,000 of the base currency in the currency pair. For EUR/USD, the Euro is the base currency and a standard lot is equal to 100,000 Euros. For USD/JPY a standard lot is equal to 100,000 US Dollars. Due to the leverage inherent in the Forex market, one doesn't actually need $100,000 to take on a standard lot of USD/JPY*. Please visit our Trading Terms - Leverage page for more information on leverage.

Even though it is the convention, not all traders want to trade in increments of standard lots. For those wanting to take on smaller sized contracts, Forex dealers have developed the mini lot. One mini lot is equivalent to 10,000 of the base currency, or 0.1 standard lots.

Unlike many Forex brokers that offer separate accounts for mini and standard lot trading, CMS Forex offers a Universal Account where you can trade any combination of both mini (10,000) and standard (100,000) lots. VT Trader™ takes the needless complexity out of your Forex trading by treating a mini lot as one tenth of a standard lot — something that cannot be said about many other Forex trading platforms. For example, a client with CMS Forex can place an order for 2 standard lots, 3 mini lots (.3 lots), or any combination such as 4 standard lots and 6 mini lots (4.6 lots).

Whether you trade standard lots, mini lots, or both, our universal account is a flexible, sensible way to trade Forex.

Order Processing

At CMS Forex we pride ourselves on fast, fair, and reliable order execution. Our dedicated 24 hour a day dealing desk and Auto Dealer system ensure your orders are filled at the best available market prices in a matter of seconds. Our staff of experienced dealers is committed to fairly and efficiently executing your trades. Orders can be placed at any time either via our VT Trader software or over the phone.

The quality of your Forex dealer’s order execution is integral to your ability to be a successful trader. Being unable to enter the market at your requested price or being executed at out of market prices you did not request can be devastating to your trading strategy. Though many Forex dealers may offer similar trading terms, few distinguish themselves with the high quality of order execution and customer friendly dealing practices found at CMS Forex. Our dedication to the latest in cutting edge technology and our commitment to quality customer service assure you that your orders will be executed quickly and reliably. Open an account today with just $200 and experience for yourself why CMS Forex is the reputable choice for high quality order execution.

CMS Forex honors the price on all stop and limit orders up to 10 lots under normal market conditions. VT Trader is designed so that your market order will never be executed at a price you did not see or approve. If the market has moved away from your asked price, you will be re-quoted. Please note that slippage may occur on stop and limit orders due to weekend price gaps. Our dealing desk’s commitment to getting you the best available price is such that we will often execute your order at your originally requested price even if the market has already moved. Our dealing desk and support are available day and night to take orders and resolve any execution issues that may arise, promptly and courteously.

Spreads

CMS Forex now offers 2 Pip fixed spreads on EUR/USD and USD/JPY, our most popular currency pairs. Competitive spreads lower your transaction costs per trade and make it easier to open and close individual positions closer to your target price. In addition, CMS has reduced the spreads of twelve pairs and added to its roster, ZAR/JPY, USD/ZAR, AUD/NZD, USD/HKD, and GBP/AUD.

The spread is the difference between the Bid and the Ask price of a given currency pair. The Ask is the price you pay to buy and the Bid is the price at which you sell a currency pair. CMS Forex charges no commissions, and as a market maker may make some of its revenue from the Bid/Ask spread.

Currency Pairs Offered
Reduced spreads are indicated in orange.

EUR/USD 2	AUD/USD 5	EUR/CAD 8	AUD/JPY 6	AUD/NZD 20
USD/JPY 2	USD/CAD 5	EUR/AUD 9	NZD/USD 4	USD/HKD 12
GBP/USD 4	EUR/GBP 4	GBP/CHF 8	CAD/JPY 6	USD/SGD 8
USD/CHF 5	EUR/JPY 4	CHF/JPY 5	NZD/JPY 8	USD/ZAR 200
EUR/CHF 4	GBP/JPY 8	AUD/CAD 8	GBP/AUD 20	ZAR/JPY 6

Fixed Spreads
Our spreads are fixed regardless of market liquidity. Thus, as a CMS client, you always know what to expect when entering and exiting the market. This is especially important if you trade based on fundamental news, at a time when market conditions are volatile or in thinner liquidity such as off-market hours. Unlike CMS, dealers that offer variable spreads may increase their spreads as the volatility of the market changes. These unexpected changes in spread may make it difficult for you to plan your trades and enter or exit the market at your preferred targeted price. Paying a higher spread during these times costs you more money. You can trust CMS Forex to provide you with the liquidity you need to enter the market at a predetermined fixed spread any time of day or night.

Though some dealers may offer lower spreads than CMS, we advise you use caution and consider all the factors before choosing a Forex dealer. As many Forex dealers make a part of their revenue from the Bid/Ask spread, dealers that have a lower spread may offer poor quality of execution by aggressively re-quoting or slipping clients’ orders, thus making it difficult for you to enter the market at the price of your choice. Some services offer lower spreads yet charge commissions on trades or levy hidden fees, thus often increasing rather then decreasing the total cost of execution.

At CMS Forex, we pride ourselves in providing low spreads coupled with quality execution.

Instant Pip Rebate

CMS Forex’s clients receive a 1 pip rebate directly to their trading accounts for every 5 lot trade. This applies to individual positions of 5 or more standard 100K lots where the whole position is opened with one order and closed in whole with a single order. This rebate instantly appears on the account at the moment of closing a position. You can view its details in the account report, in the "Commission/Rebate" column. Above 5 lots, rebates are applied according to the following schedule:

Position Size in Lots	Rebate in Pips
5	1.0
6	1.2
7	1.4
8	1.6
10	2.0

For example, if you open and close ten lots of EUR/USD you will receive a 2 pip rebate, which is equivalent to $20.00 ($10.00 multiplied by 2 pips) for the entire 10 lot round-turn transaction.

The rebate is given in the base currency of your trading account. Please note that this offer is not applicable to mini-lot transactions.

The CMS Forex Advantage

Competitive spreads as low as 2 pips
CMS Forex offers competitive spreads in 25 currency pairs. Receive a 1-pip volume rebate on every 5 lot trade. Read more »

Real-time trade execution 
We pride ourselves on fast, fair, and reliable order execution. CMS Forex ensures the price you click is the price you get.* Read more »

Trade mini or standard size lots
Our Universal trading account allows clients to easily trade both 10k mini and 100k standard lots without the need to open an additional account. Read more »

Low minimum deposit
CMS Forex makes it easy for novice traders to get started by allowing you to trade Forex with a minimum initial deposit of only $200 USD. Read more »

Over 100 technical indicators
CMS Forex offers over 100 of the most powerful technical indicators. Technical indicators help traders gain a better
understanding of market movements. Read more »

Access to fundamental analysis tools
We offer access to fundamental analysis such as real time REUTERS news, expert commentaries by professional market strategists, and economic data release calendars. Read more »

Rollover interest
Both mini and standard lot positions held after 5pm EST are credited or charged rollover interest reflecting the difference in interest rates between the two currencies being traded. Read more »

Interest on unused margin
Accounts with initial deposits of 10,000 USD or greater will receive 2% interest on unused margin.† Read more »

Up to 400:1 leverage
Increase your buying power. The margin you put down on a trade can control a position up to 400 times greater in size. This may increase the size of your potential profits, as well as losses.
Read more »

Hedge your trades
Minimize your currency exposure risk by offsetting your positions. Open a hedge position without utilizing additional margin. Read more »

Quality customer service
Friendly and helpful customer service representatives are available by phone, live chat, and e-mail. Our dealing desk and support department are available 24 hours a day. Read more »

Forex education
Online Forex tutorials and courses guide you every step of the way toward gaining knowledge about Forex, trading strategies, and our proprietary trading software. Read more »

Combine the CMS Advantage with CMS Forex’s powerful Visual Trading software and ample educational and news resources, and you can be sure you are getting one of the best values in the Forex market.

Learn about CMS’s competitive Trading Terms »

*Except in extraordinarily volatile market conditions. Terms and conditions subject to client trading agreement.

†Unused margin must be over 10,000 USD. To be eligible, a trader must open at least 15 standard lots per month. CMS may alter the interest terms and schedule at its discretion.

Under extreme market conditions, CMS Forex reserves the right to modify its spreads.

Pricing

Commission-free trading in 22 currency pairs, with dealing spreads as low as 1-2 pips for the most widely traded currency pairs. 

Trade on FOREX.com's tightest available spreads. 

Pair As low as Pair As low as EUR/USD 1.1 NZD/USD 1.3 USD/JPY 1.1 CHF/JPY 2 USD/CHF 1.3 CAD/JPY 3.5 EUR/GBP 0.7 AUD/JPY 3.5 EUR/JPY 1.3 NZD/JPY 3.5 EUR/CHF 1 GBP/JPY 2.8 GBP/USD 1.3 GBP/CHF 4 USD/CAD 1.3 EUR/AUD 3.5 AUD/USD 1.3 EUR/CAD 3.5 AUD/NZD 4 AUD/CAD 2 GBP/CAD 3.5 GBP/AUD 4

With fractional pip pricing, our real-time executable prices are quoted in more precise 0.1 pip increments. Qualify for FOREXPro pricing when you open an account with $10,000 or more.

Expert Advisors

Automate your trading with MetaTrader 4 

Move beyond traditional trading with a fully customizable, automated trading system, integrated seamlessly into your MetaTrader 4 platform.

MetaQuotes Language 4 (MQL 4) is a programming language traders use worldwide to script, test, and then automate their custom trading strategies. Use the MetaEditor program to create Expert Advisors - custom-built programs to analyze the market, place orders and even execute trades automatically.

It's all tailored to your specifications, providing you with a high degree of flexibility, oversight and control.

Easy to learn, easy to use 

The MetaEditor program provides detailed, easy-to-follow instructions to familiarize you with the MQL 4 programming language. Write trading strategies, and then test them with historical currency data to see how successful, risky or balanced they may actually be.

MetaEditor provides an ideal environment for fine-tuning your strategies before executing them in the real marketplace.

Expert Advisor Hosting

Run your Expert Advisors 24/7 during
trading hours with hosting at FOREX.com.

Expert Advisor Hosting is a service made available through FOREX.com by one of the leading providers of MetaTrader hosting, Gallant Partners Hosting. With Expert Advisor Hosting, you'll benefit from having your EAs (Expert Advisors) run in a professional environment designed to support 24-hour trading with 99% uptime.

Expert Advisor Hosting is ideal for clients that want to:

• Run EAs 24/7 during trading hours
  
  
• Access your account from any computer
  
  
• Trade on Mac OS X or any OS
  
  
• Easily upload and manage your EAs with a fast and secure account manager

Expert Advisor Hosting is available at no cost to FOREX.com customers, a $54.95/month value.*

Meta Charts

Integrated seamlessly into the MetaTrader 4 trading platform, Meta Charts combines a professional charting application with MetaTrader 4's popular custom indicators, scripts and automated trading capabilities. 

Some features include:

• Choose from 50 technical studies, including 30 technical indicators and 20 line studies
  
  
• Create, test and automate your own technical studies and indicators using Meta Quotes Language 4
  
  
• Choose from 9 time intervals, from 1 minute to monthly
  
  
• Place trades and view open positions directly from your charts
  
  
• View an unlimited number of charts at once
  
  
• Integrate your chart analysis with MetaTrader 4's auto-execution technologies: choose from Instant Execution, Request Execution, Market Execution