Schwab Currency Trading – Things Newbie Traders Need to Know Before they Trade Foreign Exchange Currency
Schwab Currency Trading asked by a reader from Califronia, USA. Currency trading through Schwab trading platform? A reader asked. Maybe you are also from United States and you are wondering how can you trade forex using Schwab.
Forex trading for many is just a scam. That’s why we all want to answer all questions related to forex trading. Forex trading simply means buying and selling foreign exchange currency. You can earn money in foreign exchange trading in any directions (bullish or bearish) compared to stocks, you will only make money when the stock price appreciates (and of course through dividends).
Schwab Currency Trading – Is it Possible?
We found a good answer from the official website of Schwab, they said…
“You can trade international securities in both accounts. The key benefit of the Global Account is that you can trade online using the foreign currency of each market you’re trading in, compared to the Schwab One brokerage account, where trades are placed by calling a Schwab broker and are settled only in U.S. dollars.”
As far as forex trading concerns, in this statement, maybe you can open a Schwab account using your local currencies and use those currencies to trade stocks or EFTs, not forex itself.
Ask the Traders About Schwab Currency Trading
Let us ask the traders around the world which brokers they are using when trading forex. Are Americans using Schwab to trade forex or other forex brokers licensed to operate in USA?
I found a business phone number of Scwab if anyone wants to open a Global Account, you may call a Schwab Global Investing Specialist at 800-992-4685.
Feel free to leave a comment below and share your experience (if any) on Schwab currency trading.