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Forex Accounts, Futures Accounts and
Options Accounts!
The various account
choices depend on the level of service the investor
requires.
Full service forex,
futures and options accounts
are usually non discretionary accounts in which a broker
does the research and makes recommendations to the investor.
These account types require more work for the broker and
therefore are charged higher commissions.
Broker assisted
forex, futures and options accounts allow for the investor to do the research and
choose the investment but uses a broker to call in the trade
in order to avoid any mistakes. These accounts require less
work for brokers and therefore usually cost less commission
per trade than full service accounts.
Self directed forex,
futures and options accounts
are those in which the investor does all of the research and
investment choices and executes the trade using an online
trading platform. These types of accounts charge very little
commission per trade and in the case of FOREX sometimes no
commission because the broker and the clearing firm are
compensated by a portion of the bid/ask spread.
Professionally managed
forex, futures and options accounts typically require larger investments of capital and
broker and clearing firm compensations are usually fee
oriented. In these managed accounts the investor must give
power of attorney to the fund trader.
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