I invited my subscribers to create a Forex brokers list of questions in a survey where I asked:Â What are the most pressing issues you would like to ask a Forex Currency Broker? See the post on April 5th where that invitation was extended.
There was a lot of interest and I received hundreds of questions!
My promise was to get a Forex currency broker to answer that Forex broker list of questions, but after I saw the questions, I wasn’t sure a broker would be willing to do it.
Some of the questions are very basic ones about the Forex market and how to trade currencies. So if you’re new to FX trading there will be a lot of good stuff for you in this interview.
There are other questions which get into the proposed legislation and further regulation of Forex trading and even the ethics of Spot Forex currency brokers! So there’s a lot of good stuff for you more advanced traders … and some controversial topics too.
Thankfully, Josh Lampel was willing to rise to the occasion. To be fair I showed the questions to him first because I didn’t want him to feel blind-sided. I also wanted to allow him to provide you with the best, detailed answers possible.
Even though Josh’s firm, Global Futures, and I partner on some educational and marketing endeavors, I wasn’t sure he’d be willing to tackle these questions because some of them were very pointed and controversial.
I told him that if he was going to do this he had to take the hard questions too, not just the easy ones. Josh agreed without hesitation. He’s a brave soul, and did a great job.
I’m proud to share this interview with you because Josh answered all the questions very candidly and provides excellent educational material in a clear, concise and honest manner.
I recorded the interview and put it in video format so he could share some slides as well.
Unfortunately I had a lot of trouble with the video after it was done and it was almost impossible to use … but after several days of wrestling with it and buying some new software, I was able to break it down into small chunks of about 10 minutes each and share it with you. The audio and video quality was salvaged (though some parts are better than others) and now it’s presentable. However I wasn’t able to add any fancy editing (so nothing “pretty” is added) – all I could do was chop it into smaller pieces to make it viewable.
Because the interview was so long, I’m posting half of the videos now and the other half will be posted in about a week.
Here are some of the questions in the interview:
- What is Forex?
- What is the ideal capital requirement for a beginner?
- What are the most important fundamentals?
- Where to get news?
- Do the insiders manipulate the market?
- What is the difference between equity, margin and free margin?
- Why do currency prices differ between brokers?
- Why do I frequently find a difference between the prices quoted and the price I get filled?
- Discuss the proposed legislation to reduce Forex margin to 10:1. Will this apply to overseas markets also?
- What’s a segregated account and is it important to have one?
- What time of day is considered the open and close for the Forex market?
- Does a Forex currency broker ever “stop hunt” my positions?
- How can I look at a Forex brokers list and tell a good currency broker from a bad one?
- Explain “First In, First Out” and how that impacts me.
- Are all trades put through the interbank market?
- Why trade spot Forex currencies rather than Futures or ETF currencies?
- Should one use an ECN broker or a broker that is a dealing desk?
Click on each of the links below to view the videos and listen to the interview.
Josh Lampel is a Series 3 and 34 futures and Forex broker with Global Futures. Whether or not you’re a client of Global Futures, he welcomes you to follow up on this interview and contact him with any other questions you may have.
You may contact him at:
(877) 367-3177, ext. 126 (Toll-free US/Canada)
(818) 728-0415, ext 156 (International)
VIEW THE INTERVIEW VIDEOS HERE:
- Forex Broker Interview, Part 1
- Forex Broker Interview, Part 2
- Forex Broker Interview, Part 3
- Forex Broker Interview, Part 4
- Parts 5, 6 & 7 are coming soon!
These videos are in Windows Media Format and should be viewable with Windows Media Player.
If you don’t have it, you can download it by clicking here.
If you have trouble viewing the videos, I recommend using GOM Player as most everyone has been able to view our videos with it … and it’s free. You can download GOM Player by clicking here.
WHAT DO YOU THINK OF THIS INTERVIEW? PLEASE LEAVE YOUR COMMENTS AND RESPONSES BELOW.