Forex trading seems to have take the investment world by storm, and there are millions of people who are taking it up as a career. There are a number of different countries in which this form of investment is illegal, and if this is the case in any of the countries we choose to feature we will make sure all our readers are informed. Here on this page we will be looking at the Forex market in Romania, and giving you some useful information, in order to make an informed choice of Forex broker to work with.
Romania is a republic in Southeast Europe. The total area is more than , square kilometers and there are nearly 20 million inhabitants. It is actually the 7th most populated member of the European Union, and the capital is Bucharest. The official currency of the country is the Romanian Leu.
Between , and , there were predominantly 3 exchange rates in Romania. The rate which acted as the base for premium calculations was the basic rate, and there was also the commercial rate, and the tourist rate for residents traveling to other countries. In , things changed a little. The commercial and tourist rates were merged into a weekly adjusted Effective Rate, linked to the trade basket.
Its aim is to keep the local currency stable, and reduce the risk of high levels of inflation. Things have started to look up for Romania in recent years, and their GDP is now much higher. For those of you who have already decided to give the world of Forex a try, an important first step is to find the best broker possible. As the wrong choice could seriously impact on results. Finding the right Forex broker to invest with is one of the most important decisions a Forex trader can make.
Wherever you may reside in the world, there will be a given set of regulations that govern the way trading on the financial markets is undertaken. For investors this is protection, and also helps to prevent fraudulent activities. The rules and regulations are completely transparent and anyone can obtain them.
Take for example, a Forex broker in the US. If it is a reliable and professional brokerage firm it will be registered with the US Commodity Futures Trading Commission, as well as a member of the National Futures Association. Companies who operate within the European Union member states, of which Romania is one, should comply with this Directive. If a firm is registered in one member state, it can operate with other clients in other EU states, provided it complies with the regulations.
It is sometimes the case that choosing a broker from a local country offers better legal protection. As trading platforms are internet based and require specially designed software, it is highly likely that problems will arise with either the software or the internet connection.
Therefore, it makes sense if there is always someone available to answer questions, and sort out any problems. The help should be of the best quality. Live customer support is always the best option as it means issues can be addressed immediately. The cost involved with trading foreign currencies can make quite an impact on profitability, so it will be a wise move to make to understand as much as possible.
Some Forex brokers take a commission, which is a percentage of the spread. Others usually charge for their services through spreads. It can either be a fixed spread in a certain amount of pips, or a variable spread where the market is more volatile. These are just a few things to watch out for when choosing the best Forex broker in Romania. But remember, like any form of investment there are risks involved, which could turn out to be very costly. Romanian Forex Brokers Forex trading seems to have take the investment world by storm, and there are millions of people who are taking it up as a career.
A few basic facts about Romania Romania is a republic in Southeast Europe. What to look for when picking the best Forex brokers in Romania Finding the right Forex broker to invest with is one of the most important decisions a Forex trader can make. Was the information useful? Get the latest Forex updates now! Receive the latest Forex broker reviews and offers Learn more about trading Forex through our academy section Start trading with a demo account and teach yourself to be a trader No thanks, maybe later.More...