Sunday, May 10, 2009

DOWN WITH FOREX TRANSACTION COSTS

In a world that turns on the free flow of international commerce and travel, one thing seems inescapable. Transferring money between countries, from one company to another or the simple exchange of currency for holiday travel brings us into contact with the ubiquitous moneychangers. These are the gatekeepers waiting at the turnstiles of trade to help us pay for our goods, services and pleasures when we are buying in one currency and paying in another. Of course it is fair game to expect to pay for a service but so-called �transaction costs� can be an unwelcome burden.


I talked about the demo account facility from UWCFX.COM in a previous article. This is a no risk way of navigating your way through the world of forex trading. If this is a completely new experience for you, this is a �must do� in my opinion and you are well advised to sign up for the demo account at www.uwcfx.com . If you�re familiar with forex but not the way UWCFX.COM operates, I would still recommend this as an essential first step of engagement with the company. The trading platform works in exactly the same way as a regular �live� account, except you are not trading in real money. This is a genuine way of �cutting your teeth� on the UWCFX.COM way of doing business and is an education in itself.


So, when you are ready to move on to a �live� account and you have to part with real money, it�s reassuring to know that this is a company that offers clients genuine choices. Payment with your normal credit card is fine. Once an account has been opened you can use the services of www.moneybookers.com where payment is secure, in real time via e-mail instruction and transaction costs minimal compared to cheque payment or bank transfer. Most recently, UWCFX.COM has created a PayPal facility where transfers are also secure and effectively in real time. If it�s relevant to your situation you can buy and pay using the same currency.


As you join the ranks of the �moneychangers� yourself it�s quite clear that doing forex business with UWCFX.COM is a world apart from the old way of dealing with currency exchange.




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[Source: UWCFX Associates]

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