ABOUT
Searching for forex accounts? Check out fx providers such as FOREX.com and FXDD. For french, deutsch or spanish speakers. Controlled by FSA(JP), ASIC(AU), OSC(CA) or NFA(US); focus on Beginner friendly service and educational courses.
do you know what a "cash in advance" is?
glossary FAQ: glossary.
B. E. From United States
15 December, 2009
When an importer must pay the exporter in cash before a shipment is made. The logic behind the structure of such a transaction is that if an exporter ships a product to an importer and the importer does not pay for the item, the exporter has very little recourse. This term can be used in a variety of businesses, but it is most common in the import/export business.
Prior to receiving a shipment of a product from an overseas vendor, many importers are required to send cash in advance. By structuring the transaction in this manner, the exporter (or maker of the product) is protected against the possibility of non-payment by the importer. Visit Interbank FX
- Background:
- The as yet rather unheard of retail online foreign currency exchange firm FXCM was established on 1999, and resides at Financial Square 32 Old Slip, New York, NY 10005. FXCM is regulated by NFA - CFTC (USA), FSA (UK), HongKong and BCSC (Canada). Though starting off to a humble start, and over the past number of months, FXCM has developed into one of the advantageous online investment forex trading platforms available.
- Specs:
- Although FXCM has a minimum deposit that on the high side, (300 bucks, hey - you gotta start somewhere, so what the hey, right?), FXCM provides an array of educational courses and an exclusive production walk-through platform. That means that this platform is an excellent option for starting out. Truthfully, this program isn't awfully innovative, but instead, it uses the more established technology of '02 - '03 platforms. It's more a matter of cosmetics, it's not a question right or wrong. Whether you're a French, Chinese, Russian or Spanish speaker, you may trade on this multilingual forex conveniently and with great ease. If you think that less is more, you better keep looking. This one's download is kinda slow and is laid out clumsily. It does deliver, though, consistently reliable server communication. You should also know, that FXCM has 24/7 trading and a customer support service.
- Advantages:
- - Good for Beginners - Nice Graphics - A Customer Support Line - Beginner Friendly
- Disadvantages:
- - Confusing Options - High Minimum Deposit - Download
- Skip to Here:
- A dependable yet unimpressive option.