Zecco Trading announced that it added forex [1] services to its list of available products (through its partnership [2] with GAIN Capital [3]). This means that all investors on the Zecco platform [4] can start trading foreign currencies (37 different pairs in fact). On top of that, it offers:
- Real time quotes
- 24 hour markets (for 5 days a week)
- 20:1 leverage [5] for minor currencies (50:1 for major currencies)
- 24/6 live chat and support
- Daily Forex research
In the forex market, it is common for firms to make money off spreads (the difference between bid and ask prices) instead of charging commissions. Zecco Forex [4] promises very tight spreads. If you open an account with $10,000, you qualify for Zecco Forex Pro which gives even tighter spreads.
This is great news, and I will definitely try it out. However, remember that leverage is high for forex accounts and you may lose a fortune very quickly if you don’t respect the leverage ratios [6].
Click here [4] to go to Zecco’s official site.