Zecco Trading has expanded into the foreign exchange market with its release of Zecco forex, a robust currency trading platform for foreign exchange traders. It looks like Zecco plans to transform itself into a highly diversified discount trading broker that offers a plethora of services to frugal investors and traders.
Zecco explains some of the key details about Zecco Forex in an e-mail from Zecco Holdings, Inc. CEO Jeroen Veth:
Large and Liquid Market
Forex is the most traded market in the world, with a daily volume exceeding $3.2 trillion, according to the Bank for International Settlements (BIS).
Alternative Asset Class
Zecco Forex provides access to another asset class where you can make trades independent of overall equity market direction. So if the Dow is plummeting, the dollar could be rallying. And if the dollar is plummeting against the Euro, you might decide to jump on the Euro and ride that wave.
You can get up to 200 to 1 leverage trading foreign currencies. That means $500 cash can purchase up to $100,000 in currencies. Now before you go investing your kid’s college funds in currencies, you should recognize that a high degree of leverage can lead to large losses as well as gains. As with any other investment, you should only risk what you can afford to lose.
We believe forex trading will be very attractive to active and technical traders. With a multitude of trading opportunities, and a full array of technical strategies, we believe you will find this market worth trading. And because we’re Zecco, you’ll get some of the tightest bid-ask spreads in the business.
Risk Free Practice Account
But don’t take my word for it. Check out Zecco Forex yourself without putting any money at risk with our fully-functional practice account. It has most of the same tools as the full platform plus $50,000 in virtual funds to test your trading strategies before you dive into the real deal.
Zecco Forex Details
- Commission: $0 – Zecco Forex earns money on the bid/ask spread. This article explains how forex brokers make money in detail.
- Margin Requirements: $2,500 for normal account, $250 for mini accounts.
- Minimum Deposit: $2,500
- Available Currencies: US Dollar, British Pound (Sterling), Japanese Yen, Euro, Swiss Franc, Canadian Dollar, and Australian Dollar.
Take a Peek into Zecco Forex
We signed up for a free $50,000 practice trading account to test drive Zecco Forex.
We downloaded the ForexTrader software, and place our first trade:
Buy 1 Lot of EUR/USD at 1.340380
ForexTrader is very easy to navigate and comes with instructional tutorials and videos as well. The platform is broken down into various sections:
- Dealing Panel: Live auctions on the Foreign exchange market where you can buy/sell quickly
- Current Rates: Get live quotes on the currency exchange rates
- Charts: Receive comprehensive charts on forex currency movements. Great for using technical analysis when trading in the forex markets.
- Forex Insider and News: Ticker list of updated news and research articles for forex traders
How to Sign up for a Free Trading Account
Becoming a currency trader can not only add another skill to your investment arsenal, but provide another income stream that’s independent from stock market gains.
- Click here to Open a free Zecco forex practice account and start trading with $50,000 of virtual cash.
- Click Open an Account in the top right corner
- Click the Forex Tab at the Top and fill out the blanks in the form to get your free account
- Test out Zecco forex, come back and tell us: Is Zecco forex a winner or a dud?