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There are many factors to be considered when opening a CFD account. Safety of money and the broker's competitiveness always come first. In addition, the fund methods, the asset index, and the available trading platforms are also important to all CFD traders.
CFDs Trading
CFD trading allows investors to trade the direction of a financial asset over the short term. CFDs are simple to use and are especially popular for trading Forex, equity, and commodity products.
Key tips when opening a CFD Account
(1) Safety of funds is a top-priority issue
When trading online the safety of your funds is priority number one. Before opening an account make sure that your CFD broker is regulated and based on a reliable county. Traders can take advantage of the live chat service on each broker's website to answer all their questions. Even CFD brokers domiciled in offshore countries should offer a segregation between corporate funds and client funds.
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COMPARE ONLINE FOREX ACCOUNTS
An online Forex account is an account that can hold and trade Forex currency pairs. When choosing a Forex Broker, focus on (i) safety of money, (ii) fund methods, (iii) trading cost, and (iv) available asset index.
Starting an Online Forex Account
Typically, you open an account, upload the documents verifying who you are, deposit some money, and then you can buy/sell Forex currency pairs. As concerns the verification process, new online Forex accounts require the following documents:
(a) Proof of Identification (ID, Passport, or Other)
(b) Proof of Address (a Bill in your name)
(c) If you want to use a Credit/Debit card, then a 2-side photocopy of your card
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What is a Managed Account? A managed account is a fully segregated brokerage account, individually owned by an investor but managed by a professional money manager on his behalf. Money Managers can access that individual account only for opening, modifying, and closing trading positions. A managed account offers the chance to common investors to have their money managed by professional traders, but to maintain full control on their capital, and enjoy safety and real transparency.
Major Types of Managed Accounts
Money managers trade all investor’s accounts via a large master account. The exact structure of this arrangement follows four modules: PAMM, MAM, LAMM, and Pooled Accounts.
(i) PAMM (Percent Allocation Management Module)
A PAMM account type allows investors to allocate only a percentage of their entire capital to reflect a master account. The PAMM account type is designed to distribute all gains, losses, and fees on an equal percentage basis. In other words, all investor accounts get the same percentage returns no matter the size of their accounts. In addition, an investor can select to follow different money managers on the same account. The deposit requirements usually start as low as $500.