Newb question - Cash Delivery

[michael25]

hey guys,
I've just been doing some reading on the forex market as i want to get a good grip on the inner workings of it before i start trading on a demo account.

This might seem like a stupid question but i just wanted to know for sure before i look any further...

I am looking to be position trader, holding positions for longer than days at a time. I read that the forex settlement date is +2 so delivery must be made within 2 days? I'm not sure whether i understand what is changing hands...does that mean that in 2 days the actual physical currency will come into my account? is anything required of me after settlement date? can someone please explain this a bit further for me. how does it effect me as a trader?
thanks in advance guys.

 

[rub92me]

Michael, the answer to your question depends very much on the type of instrument you intend to use to trade fx (and associated leverage & margins), or whether you would trade straight through e.g. IDEAL/IDEALPRO.
Personally I don't care about settlement windows as I would never utilise or leverage more than my risk rules allow.