Alternatives to forex brokers
Forex brokers offer one way to speculate on currency markets, but there are plenty of alternatives. Two of the most popular are
When you trade a forex CFD, you’re agreeing to exchange the difference in price of a currency pair from when you open your position to when you close it. When you place a forex spread bet, you’re betting on the future price direction of a currency pair. Your profit or loss is dictated by how far it moves before you close your position.
While they operate in different ways, the outcome from forex CFDs and forex spread betting is basically the same as trading with a forex broker. You buy a pair to go long, and sell to go short. The further it moves in your chosen direction, the more profit you make; the further it moves against you, the more you lose. And as both CFDs and spread betting are leveraged, you can amplify your exposure without committing extra capital.
You can spread bet and trade CFDs with IG on a huge range of forex pairs.
Find out more about how to trade forex.