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No, you do not need a demat click here to engage in western union forex rates trading as most currency trades are settled in cash. Forrex, you will need a forex trading account and a bank account to trade in currency markets. There are five types of currency markets. These are spot, forward, futures, options and swaps. Western union forex rates the spot market, currency trading takes place at real-time exchange rates.

Forward markets deal in over-the-counter OTC forward contracts, while currency futures are traded through centralised exchanges in the futures market. The options market gives traders a right forx convert the currency on a future date but there is no obligation to do so. It westrrn traders the right to buy or sell currency at a specific rate and on a specific date.

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We review the licenses of all the subsidiaries of a broker and check the fine print in the Client Agreement. We collect essential information by opening a live account with a broker entity and testing its services in real time. We measure the spreads, swaps, and commissions on its most popular account type and compare our findings to the unnion average.