Forex is another of the markets that I trade heavily, both as a spot market trader, as well as in my forex spread betting account, and is in fact my favourite market at present, and one I was involved in long before it became the global phenomenon it is now! Indeed, as I have outlined elsewhere on this site, the spot forex markets and the forex spread betting market have much in common. Both are very simple to understand, offering the opportunity to trade both long and short with equal ease, both require only a small amount of trading capital, both offer highly leveraged accounts on margin, and both offer the option to make and lose money very quickly, including more than the amount you started with at the outset! Finally you can open a forex account or a forex spread betting account in seconds and be trading almost immediately, with little knowledge of the underlying risks, or the market.

I read somewhere recently that in order to succeed at anything, you need at least 10,000 hours experience, before you can even begin to consider that you understand or succeed in the market you are involved in, whatever your chosen career. At eight hours a day, this is a conservative 5 years, and I have been trading the forex market for longer than this, and I am just at a stage where I feel I understand the underlying cyclical nature of the various currencies, and how they interact both with each other, and also the constant ebb and flow of world news and events. Without wishing to sound conceited or arrogant, if you read my daily currency forecasts, you will find that most are right, whether in short term trading opportunities or for longer term trends. This has taken years of practice, hard work and study, along with learning from my mistakes which I make less often than I used to ( but still make even today, so I never stop learning!) thank goodness, and applies equally to whichever market you decide to choose as your preferred instrument.

I trade and write about the currency markets largely from a technical perspective, but always with the fundamental perspective in the back of my mind as I believe this is the only way to trade in forex. What is interesting in the spread betting industry is that many forex based companies are now beginning to move into the spread betting arena, and competing in the market with the more traditional spread betting companies, opening up further competition and tighter spreads  as a result. In addition, and a further development of this trend, is the move towards direct access market trading in forex spread betting as a result, offering spread betting clients the option to move away from the traditional brokerage relationship, to one where bets are placed directly into the market. Just as in the forex world this has always been an issue for many with a spread betting account, and I believe that this trend will continue over the next few years, opening up further competition and more transparent and open forex spread betting platforms for us all.

It goes without saying that all the spread betting companies offer all the major forex currency pairs, and the final choice of account will probably be down to the spread betting platform and trading tools and resources, rather than based on the spreads as these are virtually the same across the industry at present.