Yes, just signup, deposit, install app, trade. They are in private beta currently, so unless you get an invite from someone, you'll have to wait....
aside from the VC money they've got, they won't be profitable for awhile. I've heard they will introduce margin accounts, which will get them...
How about FXCM.com ? I haven't used them yet.
I've been using it for a little bit now and while the app has some UI fixes they need to make and improve on, the actual service is *so far*...
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