forex trading


hi ppl
i want to start trading currencies but im a bit confused i would appreciate any answers 2 the following questions:

if i want to for example buy USD with GPB hold the USD for a week or so and convert it back to GPB what istrument do use-
spot or forward?

how does it work?

do i get interest?

The cmc manual says something about a spot transaction being due for settlement in 2 business days, coul someone please explain what this means?

any other info any1 thinks i need to know regarding this topic is much appreciated .



Established member
Simplest solution is open an account with D4F spreadbet and trade rolling cash currencies with around 4 or 5 tick spread and min bet size of £1 per tick; 24 hour availability. They just roll over each night without any problem and you stay everything is calculated in ££.

I also use IB for currency futures. These move in tandem with the cash price and are available for about 23 hours a day (they disappear at 10pm UK time for a bit). The spreads are generaly better although sometimes widen alarmingly at slow periods. I fund my account with ££ and any profit or loss is stored as $$ which can be converted back at a 'reasonable' rate when you feel like it. Your account statements show your balance in terms of ££. Not sure how the interest works but I imagine it would be a very small component compared to your trading profits/losses.
any questions about rolls I can answer, was a forward dealer for some time. Access to a great desk for forwards and spot.
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock    No Thanks