The Bank of Ghana continued to monitor the measures and having observed some implementation challenges and following further consultations, has decided to revise the rules on foreign exchange operations as follows: He further explains that, his outfit is not a microfinance institution but trains persons with forex interest as well as trade on behalf of clients who are impressed by their returns. Ones convinced you can go ahead and open an account with them and make your deposit. DD - Dealing Desk: The foreign exchange market is the virtual location where global currencies are traded.

Bank of Ghana - The Central Bank of Ghana.

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With a genuine No Dealing Desk broker, there is no requoting of prices, which means that you can trade during economic announcements without any restrictions. The spreads offered are lower, but they are not fixed, so they can increase significantly when volatility is increasing during major economic announcements.

An NDD broker can either charge a commission on each trade or choose to increase the spread. In STP mode, transactions are fully computerized and are immediately processed on the interbank market without any broker intervention.

ECN brokers provide and display real-time order book information featuring the orders that were processed and the prices offered by banks on the interbank market. They thereby improve market transparency by providing information to all market participants. ECN brokers usually make their money by charging a commission on the traded volume. An MTF exchange ensures that buyers and sellers of financial instruments can come together according to non-discretionary rules.

An MTF is not a regulated exchange, but it operates under the same rules. MTF rules are transparent and ensure a fair trading system. The broker guarantees price efficiency and the clearing of transactions. Compared to a traditional exchange, a multilateral trading facility provides greater discretion, faster orders execution speed and reduced brokerage fees. So you can feel free and call a Broker or better find their office, if you think there not so sure that will be a good decision point to walk away.

Ones convinced you can go ahead and open an account with them and make your deposit. This is also very important thing to look out for as an investor, some brokers' offer the bank wiring system will is a good way to go. Others try eCash systems which are not too bad but at times come with problems associated with some of these systems.

Normally crediting of one's account should not take more than 24hrs. In terms of withdrawal some brokers resort to local banks, meaning the can send your profit to any Bank account in Ghana. So you ready to invest your money, but how will trading be done? Some broker can boast of free or paid signals that can aid trade for you.

Investor must insist on being a part to choosing a fund manager and look out for their trading scheme. This will help you realize who he is trading and how to monitor your account. But one thing remains sure, always be involved in the opening, funding and choosing of fund managers of your account.

Even if you time to check your platform everyday some brokers will send you statements of your account. Ghana is becoming a playing filed for Forex trading and will take informed investors to take advantage of the Global Financial Market.

There are many different trading platforms available for traders to use when making trades and managing their trading accounts.

However, there is one that has become an industry favorite. Metatrader 4 is the trading platform of choice for traders and brokers alike and is the platform used by Ghana FX. It allows traders to trade a wide range of instruments including Forex, futures and commodities. All the necessary tools and resources are included in the software package to enable traders to analyze price dynamics, make transactions and trades, use automated trading packages and create their own.

Open positions will be plotted on live charts. There are 30 technical indicators alongside live interactive charting. There is a link on the Ghana FX website that should take you to a section where you can watch and participate in some interactive videos. However, at the time of writing this review, we were unable to access the page to see what was on offer. The website itself is well laid out and informative, but we are unable to comment of the educational material that is available.

Not a huge negative as there are plenty of other places to visit online for Forex training. If you need to get in touch with customer support it is possible to do so by telephone or email. Your email address will not be published. Experience with this broker Months.

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