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Forex news => Forex => Topic started by: admin on Jan 08, 2020, 07:16 am

Title: Currency Trading.
Post by: admin on Jan 08, 2020, 07:16 am
Currency Trading.
The term "currency trading" can mean different things. If you want to learn about how to save time and money on foreign payments and currency transfers, visit XE Money Transfer.
These articles, on the other hand, discuss currency trading as buying and selling currency on the foreign exchange (or "Forex") market with the intent to make money, often called "speculative forex trading". XE does not offer speculative forex trading, nor do we recommend any firms that offer this service. These articles are provided for general information only.
How Forex Works.
The currency exchange rate is the rate at which one currency can be exchanged for another. It is always quoted in pairs like the EUR/USD (the Euro and the US Dollar). Exchange rates fluctuate based on economic factors like inflation, industrial production and geopolitical events. These factors will influence whether you buy or sell a currency pair.
Example of a Forex Trade:
Why Trade Currencies?
Forex is the world's largest market, with about 3.2 trillion US dollars in daily volume and 24-hour market action. Some key differences between Forex and Equities markets are:
Many firms don't charge commissions - you pay only the bid/ask spreads. There's 24 hour trading - you dictate when to trade and how to trade. You can trade on leverage, but this can magnify potential gains and losses. You can focus on picking from a few currencies rather than from 5000 stocks. Forex is accessible - you don't need a lot of money to get started.
Why Currency Trading Is Not For Everyone.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for everyone. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. Remember, you could sustain a loss of some or all of your initial investment, which means that you should not invest money that you cannot afford to lose. If you have any doubts, it is advisable to seek advice from an independent financial advisor.
Title: Re: Currency Trading.
Post by: admin on Jan 08, 2020, 07:18 am
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Title: Re: Currency Trading.
Post by: admin on Jan 08, 2020, 07:18 am
Forex.
rock and a hard place maybe next daily will show the way.
Maybe so fractal there too.
UJ will try to break up now i think.
i waiting any up move and short signal again.
EU daily support here.
tweet at 8:48am: 28 Oct - 08:47:57 AM - TRUMP SAYS WE ARE LOOKING TO BE AHEAD OF SCHEDULE TO SIGN PHASE ONE OF US-CHINA TRADE DEAL tweet at 8:49am: TRUMP SAYS EXPECTS TO SIGN CHINA TRADE PACT AT APEC MEETING IN CHILE: RTRS.
tweet at 10:25am: NEW: I'm told that Labour's shadow cabinet: - agreed to ABSTAIN on election vote under FTPA tonight - recognise a single line bill is likely to PASS anyway with Tory/ SNP/ LD support - believe Labour MPs "aren't in a good place" on GE and will refuse to vote for it.
The European Union has agreed to give the U.K. three more months to exit the bloc. European Council President Donald Tusk, who chaired the talks among the 27 European governments, .
The European Union looks set to grant the U.K. a delay to Brexit until Jan. 31, prolonging the uncertainty for businesses and citizens but removing the risk of a damaging no-deal .
GBP net shorts finally showed a more material level of correction, declining from 30% net shorts (as % of open interest) to 23% (Figure 1). However, with the rising probability of .
Title: Re: Currency Trading.
Post by: admin on Jan 08, 2020, 07:19 am
Forex Trading: A Beginner's Gu >
Forex is a portmanteau of foreign currency and exchange. Foreign exchange is the process of changing one currency into another currency for a variety of reasons, usually for commerce, trading, or tourism. According to a recent triennial report from the Bank for International Settlements (a global bank for national central banks), the average was more than $5.1 trillion in daily forex trading volume.
Key Takeaways.
The foreign exchange (also known as FX or forex) market is a global marketplace for exchanging national currencies against one another. Because of the worldwide reach of trade, commerce, and finance, forex markets tend to be the largest and most liquid asset markets in the world. Currencies trade against each other as exchange rate pairs, for instance EUR/USD. Forex markets exist as spot (cash) markets as well as derivatives markets offering forwards, futures, options, and currency swaps. Market participants use forex to hedge against international currency and interest rate risk, to speculate on geopolitical events, and to diversify portfolios, among several other reasons.
What Is the Forex Market?
The foreign exchange market is where currencies are traded. Currencies are important to most people around the world, whether they realize it or not, because currencies need to be exchanged in order to conduct foreign trade and business. If you are living in the U.S. and want to buy cheese from France, either you or the company that you buy the cheese from has to pay the French for the cheese in euros (EUR). This means that the U.S. importer would have to exchange the equivalent value of U.S. dollars (USD) into euros. The same goes for traveling. A French tourist in Egypt can't pay in euros to see the pyramids because it's not the locally accepted currency. As such, the tourist has to exchange the euros for the local currency, in this case the Egyptian pound, at the current exchange rate.
One unique aspect of this international market is that there is no central marketplace for foreign exchange. Rather, currency trading is conducted electronically over-the-counter (OTC), which means that all transactions occur via computer networks between traders around the world, rather than on one centralized exchange. The market is open 24 hours a day, five and a half days a week, and currencies are traded worldwide in the major financial centers of London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris and Sydney--across almost every time zone. This means that when the trading day in the U.S. ends, the forex market begins anew in Tokyo and Hong Kong. As such, the forex market can be extremely active any time of the day, with price quotes changing constantly.
A Brief History of Forex.
Unlike stock markets, which can trace their roots back centuries, the forex market as we understand it today is a truly new market. Of course, in its most basic sense - that of people converting one currency to another for financial advantage - forex has been around since nations began minting currencies. But the modern forex markets are a modern invention. After the accord at Bretton Woods in 1971, more major currencies were allowed to float freely against one another. The values of individual currencies vary, which has given rise to the need for foreign exchange services and trading.
Commercial and investment banks conduct most of the trading in the forex markets on behalf of their clients, but there are also speculative opportunities for trading one currency against another for professional and individual investors.
Spot Market and the Forwards & Futures Markets.
There are actually three ways that institutions, corporations and individuals trade forex: the spot market, the forwards market and the futures market. The forex trading in the spot market always has been the largest market because it is the "underlying" real asset that the forwards and futures markets are based on. In the past, the futures market was the most popular venue for traders because it was available to individual investors for a longer period of time. However, with the advent of electronic trading and numerous forex brokers, the spot market has witnessed a huge surge in activity and now surpasses the futures market as the preferred trading market for individual investors and speculators. When people refer to the forex market, they usually are referring to the spot market. The forwards and futures markets tend to be more popular with companies that need to hedge their foreign exchange risks out to a specific date in the future.
More specifically, the spot market is where currencies are bought and sold according to the current price. That price, determined by supply and demand, is a reflection of many things, including current interest rates, economic performance, sentiment towards ongoing political situations (both locally and internationally), as well as the perception of the future performance of one currency against another. When a deal is finalized, this is known as a "spot deal". It is a bilateral transaction by which one party delivers an agreed-upon currency amount to the counter party and receives a specified amount of another currency at the agreed-upon exchange rate value. After a position is closed, the settlement is in cash. Although the spot market is commonly known as one that deals with transactions in the present (rather than the future), these trades actually take two days for settlement.
Unlike the spot market, the forwards and futures markets do not trade actual currencies. Instead they deal in contracts that represent claims to a certain currency type, a specific price per unit and a future date for settlement.
In the forwards market, contracts are bought and sold OTC between two parties, who determine the terms of the agreement between themselves.
In the futures market, futures contracts are bought and sold based upon a standard size and settlement date on public commodities markets, such as the Chicago Mercantile Exchange. In the U.S., the National Futures Association regulates the futures market. Futures contracts have specific details, including the number of units being traded, delivery and settlement dates, and minimum price increments that cannot be customized. The exchange acts as a counterpart to the trader, providing clearance and settlement.
Both types of contracts are binding and are typically settled for cash for the exchange in question upon expiry, although contracts can also be bought and sold before they expire. The forwards and futures markets can offer protection against risk when trading currencies. Usually, big international corporations use these markets in order to hedge against future exchange rate fluctuations, but speculators take part in these markets as well.
Note that you'll see the terms: FX, forex, foreign-exchange market and currency market. These terms are synonymous and all refer to the forex market.
Forex for Hedging.
Companies doing business in foreign countries are at risk due to fluctuations in currency values when they buy or sell goods and services outside of their domestic market. Foreign exchange markets provide a way to hedge currency risk by fixing a rate at which the transaction will be completed.
To accomplish this, a trader can buy or sell currencies in the forward or swap markets in advance, which locks in an exchange rate. For example, imagine that a company plans to sell U.S.-made blenders in Europe when the exchange rate between the euro and the dollar (EUR/USD) is €1 to $1 at parity.
The blender costs $100 to manufacture, and the U.S. firm plans to sell it for €150--which is competitive with other blenders that were made in Europe. If this plan is successful, the company will make $50 in profit because the EUR/USD exchange rate is even. Unfortunately, the USD begins to rise in value versus the euro until the EUR/USD exchange rate is .80, which means it now costs $0.80 to buy €1.00.
The problem the company faces is that it, while it still costs $100 to make the blender, the company can only sell the product at the competitive price of €150, which when translated back into dollars is only $120 (€150 X .80 = $120). A stronger dollar resulted in a much smaller profit than expected.
The blender company could have reduced this risk by shorting the euro and buying the USD when they were at parity. That way, if the dollar rose in value, the profits from the trade would offset the reduced profit from the sale of blenders. If the USD fell in value, the more favorable exchange rate will increase the profit from the sale of blenders, which offsets the losses in the trade.
Hedging of this kind can be done in the currency futures market. The advantage for the trader is that futures contracts are standardized and cleared by a central authority. However, currency futures may be less liquid than the forward markets, which are decentralized and exist within the interbank system throughout the world.
Forex for Speculation.
Factors like interest rates, trade flows, tourism, economic strength and geopolitical risk affect supply and demand for currencies, which creates daily volatility in the forex markets. An opportunity exists to profit from changes that may increase or reduce one currency's value compared to another. A forecast that one currency will weaken is essentially the same as assuming that the other currency in the pair will strengthen because currencies are traded as pairs.
Imagine a trader who expects interest rates to rise in the U.S. compared to Australia while the exchange rate between the two currencies (AUD/USD) is .71 (it takes $.71 USD to buy $1.00 AUD). The trader believes higher interest rates in the U.S. will increase demand for USD, and therefore the AUD/USD exchange rate will fall because it will require fewer, stronger USD to buy an AUD.
Assume that the trader is correct and interest rates rise, which decreases the AUD/USD exchange rate to .50. This means that it requires $.50 USD to buy $1.00 AUD. If the investor had shorted the AUD and went long the USD, he or she would have profited from the change in value.
Currency as an Asset Class.
There are two distinct features to currencies as an asset class:
You can earn the interest rate differential between two currencies. You can profit from changes in the exchange rate.
An investor can profit from the difference between two interest rates in two different economies by buying the currency with the higher interest rate and shorting the currency with the lower interest rate. Prior to the 2008 financial crisis, it was very common to short the Japanese yen (JPY) and buy British pounds (GBP) because the interest rate differential was very large. This strategy is sometimes referred to as a "carry trade."
Why We Can Trade Currencies.
Currency trading was very difficult for individual investors prior to the internet. Most currency traders were large multinational corporations, hedge funds or high-net-worth individuals because forex trading required a lot of capital. With help from the internet, a retail market aimed at individual traders has emerged, providing easy access to the foreign exchange markets, either through the banks themselves or brokers making a secondary market. Most online brokers or dealers offer very high leverage to individual traders who can control a large trade with a small account balance.
Forex Trading: A Beginner's Guide.
Forex Trading Risks.
Trading currencies can be risky and complex. The interbank market has varying degrees of regulation, and forex instruments are not standardized. In some parts of the world, forex trading is almost completely unregulated.
The interbank market is made up of banks trading with each other around the world. The banks themselves have to determine and accept sovereign risk and credit risk, and they have established internal processes to keep themselves as safe as possible. Regulations like this are industry imposed for the protection of each participating bank.
Since the market is made by each of the participating banks providing offers and bids for a particular currency, the market pricing mechanism is based on supply and demand. Because there are such large trade flows within the system, it is difficult for rogue traders to influence the price of a currency. This system helps create transparency in the market for investors with access to interbank dealing.
Most small retail traders trade with relatively small and semi-unregulated forex brokers/dealers, which can (and sometimes do) re-quote prices and even trade against their own customers. Depending on where the dealer exists, there may be some government and industry regulation, but those safeguards are inconsistent around the globe.
Most retail investors should spend time investigating a forex dealer to find out whether it is regulated in the U.S. or the U.K. (dealers in the U.S. and U.K. have more oversight) or in a country with lax rules and oversight. It is also a good idea to find out what kind of account protections are available in case of a market crisis, or if a dealer becomes insolvent.
Pros and Challenges of Trading Forex.
Pro : The forex markets are the largest in terms of daily trading volume in the world and therefore offer the most liquidity. This makes it easy to enter and exit a position in any of the major currencies within a fraction of a second for a small spread in most market conditions.
Challenge : Banks, brokers and dealers in the forex markets allow a high amount of leverage, which means that traders can control large positions with relatively little money of their own. Leverage in the range of 100:1 is a high ratio but not uncommon in forex. A trader must understand the use of leverage and the risks that leverage introduces in an account. Extreme amounts of leverage have led to many dealers becoming insolvent unexpectedly.
Pro : The forex market is traded 24 hours a day, five days a week--starting each day in Australia and ending in New York. The major centers are Sydney, Hong Kong, Singapore, Tokyo, Frankfurt, Paris, London and New York.
Challenge : Trading currencies productively requires an understanding of economic fundamentals and indicators. A currency trader needs to have a big-picture understanding of the economies of the various countries and their inter-connectedness to grasp the fundamentals that drive currency values.
The Bottom Line.
For traders--especially those with limited funds--day trading or swing trading in small amounts is easier in the forex market than other markets. For those with longer-term horizons and larger funds, long-term fundamentals-based trading or a carry trade can be profitable. A focus on understanding the macroeconomic fundamentals driving currency values and experience with technical analysis will help new forex traders to become more profitable. (For related reading, see "Benefits & Risks of Trading Forex with Bitcoin")
One of the underlying tenets of technical analysis is that historical price action predicts future price action. Since the forex market is a 24-hour market, there tends to be a large amount of data that can be used to gauge future price movements. This makes it the perfect market for traders that use technical tools.
Title: Re: Currency Trading.
Post by: admin on Jan 08, 2020, 07:29 am
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Title: Re: Currency Trading.
Post by: admin on Jan 08, 2020, 07:29 am
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Week Ahead: Brexit, Fed, NFP and Earnings Galore October 28, 2019 12:19 PM Brexit, GDP data and central banks set the tone for the week October 28, 2019 10:36 AM Alphabet Earnings: What to Expect? October 28, 2019 9:45 AM Read Latest Research.
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Title: Re: Currency Trading.
Post by: admin on Jan 08, 2020, 07:30 am
Forex Trading: A Beginner's Gu >
Forex is a portmanteau of foreign currency and exchange. Foreign exchange is the process of changing one currency into another currency for a variety of reasons, usually for commerce, trading, or tourism. According to a recent triennial report from the Bank for International Settlements (a global bank for national central banks), the average was more than $5.1 trillion in daily forex trading volume.
Key Takeaways.
The foreign exchange (also known as FX or forex) market is a global marketplace for exchanging national currencies against one another. Because of the worldwide reach of trade, commerce, and finance, forex markets tend to be the largest and most liquid asset markets in the world. Currencies trade against each other as exchange rate pairs, for instance EUR/USD. Forex markets exist as spot (cash) markets as well as derivatives markets offering forwards, futures, options, and currency swaps. Market participants use forex to hedge against international currency and interest rate risk, to speculate on geopolitical events, and to diversify portfolios, among several other reasons.
What Is the Forex Market?
The foreign exchange market is where currencies are traded. Currencies are important to most people around the world, whether they realize it or not, because currencies need to be exchanged in order to conduct foreign trade and business. If you are living in the U.S. and want to buy cheese from France, either you or the company that you buy the cheese from has to pay the French for the cheese in euros (EUR). This means that the U.S. importer would have to exchange the equivalent value of U.S. dollars (USD) into euros. The same goes for traveling. A French tourist in Egypt can't pay in euros to see the pyramids because it's not the locally accepted currency. As such, the tourist has to exchange the euros for the local currency, in this case the Egyptian pound, at the current exchange rate.
One unique aspect of this international market is that there is no central marketplace for foreign exchange. Rather, currency trading is conducted electronically over-the-counter (OTC), which means that all transactions occur via computer networks between traders around the world, rather than on one centralized exchange. The market is open 24 hours a day, five and a half days a week, and currencies are traded worldwide in the major financial centers of London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris and Sydney--across almost every time zone. This means that when the trading day in the U.S. ends, the forex market begins anew in Tokyo and Hong Kong. As such, the forex market can be extremely active any time of the day, with price quotes changing constantly.
A Brief History of Forex.
Unlike stock markets, which can trace their roots back centuries, the forex market as we understand it today is a truly new market. Of course, in its most basic sense - that of people converting one currency to another for financial advantage - forex has been around since nations began minting currencies. But the modern forex markets are a modern invention. After the accord at Bretton Woods in 1971, more major currencies were allowed to float freely against one another. The values of individual currencies vary, which has given rise to the need for foreign exchange services and trading.
Commercial and investment banks conduct most of the trading in the forex markets on behalf of their clients, but there are also speculative opportunities for trading one currency against another for professional and individual investors.
Spot Market and the Forwards & Futures Markets.
There are actually three ways that institutions, corporations and individuals trade forex: the spot market, the forwards market and the futures market. The forex trading in the spot market always has been the largest market because it is the "underlying" real asset that the forwards and futures markets are based on. In the past, the futures market was the most popular venue for traders because it was available to individual investors for a longer period of time. However, with the advent of electronic trading and numerous forex brokers, the spot market has witnessed a huge surge in activity and now surpasses the futures market as the preferred trading market for individual investors and speculators. When people refer to the forex market, they usually are referring to the spot market. The forwards and futures markets tend to be more popular with companies that need to hedge their foreign exchange risks out to a specific date in the future.
More specifically, the spot market is where currencies are bought and sold according to the current price. That price, determined by supply and demand, is a reflection of many things, including current interest rates, economic performance, sentiment towards ongoing political situations (both locally and internationally), as well as the perception of the future performance of one currency against another. When a deal is finalized, this is known as a "spot deal". It is a bilateral transaction by which one party delivers an agreed-upon currency amount to the counter party and receives a specified amount of another currency at the agreed-upon exchange rate value. After a position is closed, the settlement is in cash. Although the spot market is commonly known as one that deals with transactions in the present (rather than the future), these trades actually take two days for settlement.
Unlike the spot market, the forwards and futures markets do not trade actual currencies. Instead they deal in contracts that represent claims to a certain currency type, a specific price per unit and a future date for settlement.
In the forwards market, contracts are bought and sold OTC between two parties, who determine the terms of the agreement between themselves.
In the futures market, futures contracts are bought and sold based upon a standard size and settlement date on public commodities markets, such as the Chicago Mercantile Exchange. In the U.S., the National Futures Association regulates the futures market. Futures contracts have specific details, including the number of units being traded, delivery and settlement dates, and minimum price increments that cannot be customized. The exchange acts as a counterpart to the trader, providing clearance and settlement.
Both types of contracts are binding and are typically settled for cash for the exchange in question upon expiry, although contracts can also be bought and sold before they expire. The forwards and futures markets can offer protection against risk when trading currencies. Usually, big international corporations use these markets in order to hedge against future exchange rate fluctuations, but speculators take part in these markets as well.
Note that you'll see the terms: FX, forex, foreign-exchange market and currency market. These terms are synonymous and all refer to the forex market.
Forex for Hedging.
Companies doing business in foreign countries are at risk due to fluctuations in currency values when they buy or sell goods and services outside of their domestic market. Foreign exchange markets provide a way to hedge currency risk by fixing a rate at which the transaction will be completed.
To accomplish this, a trader can buy or sell currencies in the forward or swap markets in advance, which locks in an exchange rate. For example, imagine that a company plans to sell U.S.-made blenders in Europe when the exchange rate between the euro and the dollar (EUR/USD) is €1 to $1 at parity.
The blender costs $100 to manufacture, and the U.S. firm plans to sell it for €150--which is competitive with other blenders that were made in Europe. If this plan is successful, the company will make $50 in profit because the EUR/USD exchange rate is even. Unfortunately, the USD begins to rise in value versus the euro until the EUR/USD exchange rate is .80, which means it now costs $0.80 to buy €1.00.
The problem the company faces is that it, while it still costs $100 to make the blender, the company can only sell the product at the competitive price of €150, which when translated back into dollars is only $120 (€150 X .80 = $120). A stronger dollar resulted in a much smaller profit than expected.
The blender company could have reduced this risk by shorting the euro and buying the USD when they were at parity. That way, if the dollar rose in value, the profits from the trade would offset the reduced profit from the sale of blenders. If the USD fell in value, the more favorable exchange rate will increase the profit from the sale of blenders, which offsets the losses in the trade.
Hedging of this kind can be done in the currency futures market. The advantage for the trader is that futures contracts are standardized and cleared by a central authority. However, currency futures may be less liquid than the forward markets, which are decentralized and exist within the interbank system throughout the world.
Forex for Speculation.
Factors like interest rates, trade flows, tourism, economic strength and geopolitical risk affect supply and demand for currencies, which creates daily volatility in the forex markets. An opportunity exists to profit from changes that may increase or reduce one currency's value compared to another. A forecast that one currency will weaken is essentially the same as assuming that the other currency in the pair will strengthen because currencies are traded as pairs.
Imagine a trader who expects interest rates to rise in the U.S. compared to Australia while the exchange rate between the two currencies (AUD/USD) is .71 (it takes $.71 USD to buy $1.00 AUD). The trader believes higher interest rates in the U.S. will increase demand for USD, and therefore the AUD/USD exchange rate will fall because it will require fewer, stronger USD to buy an AUD.
Assume that the trader is correct and interest rates rise, which decreases the AUD/USD exchange rate to .50. This means that it requires $.50 USD to buy $1.00 AUD. If the investor had shorted the AUD and went long the USD, he or she would have profited from the change in value.
Currency as an Asset Class.
There are two distinct features to currencies as an asset class:
You can earn the interest rate differential between two currencies. You can profit from changes in the exchange rate.
An investor can profit from the difference between two interest rates in two different economies by buying the currency with the higher interest rate and shorting the currency with the lower interest rate. Prior to the 2008 financial crisis, it was very common to short the Japanese yen (JPY) and buy British pounds (GBP) because the interest rate differential was very large. This strategy is sometimes referred to as a "carry trade."
Why We Can Trade Currencies.
Currency trading was very difficult for individual investors prior to the internet. Most currency traders were large multinational corporations, hedge funds or high-net-worth individuals because forex trading required a lot of capital. With help from the internet, a retail market aimed at individual traders has emerged, providing easy access to the foreign exchange markets, either through the banks themselves or brokers making a secondary market. Most online brokers or dealers offer very high leverage to individual traders who can control a large trade with a small account balance.
Forex Trading: A Beginner's Guide.
Title: Re: Currency Trading.
Post by: admin on Jan 08, 2020, 07:30 am
Forex Trading Risks.
Trading currencies can be risky and complex. The interbank market has varying degrees of regulation, and forex instruments are not standardized. In some parts of the world, forex trading is almost completely unregulated.
The interbank market is made up of banks trading with each other around the world. The banks themselves have to determine and accept sovereign risk and credit risk, and they have established internal processes to keep themselves as safe as possible. Regulations like this are industry imposed for the protection of each participating bank.
Since the market is made by each of the participating banks providing offers and bids for a particular currency, the market pricing mechanism is based on supply and demand. Because there are such large trade flows within the system, it is difficult for rogue traders to influence the price of a currency. This system helps create transparency in the market for investors with access to interbank dealing.
Most small retail traders trade with relatively small and semi-unregulated forex brokers/dealers, which can (and sometimes do) re-quote prices and even trade against their own customers. Depending on where the dealer exists, there may be some government and industry regulation, but those safeguards are inconsistent around the globe.
Most retail investors should spend time investigating a forex dealer to find out whether it is regulated in the U.S. or the U.K. (dealers in the U.S. and U.K. have more oversight) or in a country with lax rules and oversight. It is also a good idea to find out what kind of account protections are available in case of a market crisis, or if a dealer becomes insolvent.
Pros and Challenges of Trading Forex.
Pro : The forex markets are the largest in terms of daily trading volume in the world and therefore offer the most liquidity. This makes it easy to enter and exit a position in any of the major currencies within a fraction of a second for a small spread in most market conditions.
Challenge : Banks, brokers and dealers in the forex markets allow a high amount of leverage, which means that traders can control large positions with relatively little money of their own. Leverage in the range of 100:1 is a high ratio but not uncommon in forex. A trader must understand the use of leverage and the risks that leverage introduces in an account. Extreme amounts of leverage have led to many dealers becoming insolvent unexpectedly.
Pro : The forex market is traded 24 hours a day, five days a week--starting each day in Australia and ending in New York. The major centers are Sydney, Hong Kong, Singapore, Tokyo, Frankfurt, Paris, London and New York.
Challenge : Trading currencies productively requires an understanding of economic fundamentals and indicators. A currency trader needs to have a big-picture understanding of the economies of the various countries and their inter-connectedness to grasp the fundamentals that drive currency values.
The Bottom Line.
For traders--especially those with limited funds--day trading or swing trading in small amounts is easier in the forex market than other markets. For those with longer-term horizons and larger funds, long-term fundamentals-based trading or a carry trade can be profitable. A focus on understanding the macroeconomic fundamentals driving currency values and experience with technical analysis will help new forex traders to become more profitable. (For related reading, see "Benefits & Risks of Trading Forex with Bitcoin")
One of the underlying tenets of technical analysis is that historical price action predicts future price action. Since the forex market is a 24-hour market, there tends to be a large amount of data that can be used to gauge future price movements. This makes it the perfect market for traders that use technical tools.
Title: Re: Currency Trading.
Post by: admin on Jan 08, 2020, 07:30 am
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Title: Re: Currency Trading.
Post by: admin on Jan 08, 2020, 07:32 am
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Title: Re: Currency Trading.
Post by: admin on Jan 08, 2020, 07:32 am
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Title: Re: Currency Trading.
Post by: admin on Jan 08, 2020, 07:32 am
FXDailyReport.Com.
Beginners in forex have peculiar needs. It takes approximately 18 months of consistent coaching, mentoring and practice to be able to cross from the realm of being a beginner to the realm of being an intermediate-level trader. This fact was put across by the CEO of a UK-based proprietary trading firm. The question is: what does the beginner do for the 18 months that it will probably take to make that transition? A lot of practice on demo and live accounts as well as a lot of study of all kinds of materials that range from the actual trading process, to trader psychology will have to be done.
Notice that we have mentioned the fact that a lot of trading will have to be done, both on demo and on a live account. So traders will have to understand the kind of platforms that they will need to use in order to get a lot of learning from those platforms. This article describes the forex trading platforms that beginners will need to use to take their skills to the next level.
MetaTrader 4 (MT4)
Almost every retail forex brokerage offers the MT4 platform. If you are going into warfare, common sense reasoning dictates that you practice with the same weapon which you will have to use on the warfront, as no one goes into battle with an unproven rifle (or unproven skills for that matter). So if you are going to start off trading any real money, you simply have to start your learning journey with the MT4 platform.
Apart from the fact of practicing with the platform that will be encountered in live trading, the MT4 has certain features which will actually boost the trading skills of the beginner if used properly. Some of these features are as follows:
The MT4 charts make for very easy reading and it does not take much to master how to use the various tools and graphical objects on the platform. The terminal window is loaded with tabs that are pure assets: a news bar for news trading as well as the Markets, Code Base and Signals tabs for accessing resources on the MQL4 Community. An easy to use interface Usage of expert advisors.
The MT4 comes as a browser-based version known as the Webtrader. You can also download the MT4 as a generic mobile app on the Google Play store and App Store for iOS-based devices. So for any beginner in forex, the MT4 is the 1 st trading platform that you must acquaint yourself with.
Top Forex Brokers with MetaTrader 4 Platform.
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MetaTrader 5 (MT5)
The MT5 is the next level platform in the MetaTrader platform series. While it retains many features of the MT4, there are some enhancements and outright changes that have been included. There is still a lot of confusion as to what Metaquotes really wants to do with the MT4 and MT5. Initially launched as a replacement for the MT4, the MT5 has found it hard to achieve the kind of market penetration that the MT4 got. So Metaquotes seems just content with allowing retail brokers run along with both platforms. Some forex brokers have tried to push the usage of the MT5 by only allowing certain trading assets on the MT5. So it is not surprising that you will see some brokers offering only stock CFDs or cryptocurrencies on the MT5 platforms they offer.
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So once a beginner is through with the MT4, the next best platform to master would be the MT5. The similarities between both platforms will enable easier mastery of the MT5. Just like the MT4, the MT5 has a web-based version and also comes as a generic mobile app which can be downloaded from the Android and Google Play stores.
This platform from Spotware Systems is a trading platform that introduces beginners to ECN trading conditions. It goes hand-in-hand with the cAlgo, which is the platform used to build algorithms used on the cTrader. The cTrader enables the trader to make multiple exits on a forex position, and also allows the viewing of the market depth on a broker's order books. The beginner can also perform deposit and withdrawal transactions within the platform interface.
Title: Re: Currency Trading.
Post by: admin on Jan 08, 2020, 07:32 am
The cTrader has a desktop and web-based version. The web-based version loads quite easily, and also has a new feature introduced into the latest version: the "cTrader Copy". This is the social trading product of cTrader, and allows the beginner to copy the trades of successful traders from within the cTrader platform itself! This is a stunning innovation and has taken the concept of social trading to another level.
cTrader Copy Platform.
Even though the interface of the cTrader is a bit more difficult to get around than the MT4, the beginner can easily rearrange the interface to create a customized workspace setting.
eToro Social Trading.
There is no way we can conclude a discussion on the best forex trading platforms for beginners without mentioning a social trading platform. eToro's social trading platform happens to be the one best suited for beginners. Its simplicity, ease of use, light nature (it is web-based) and provision of Leader selection metrics that are easy to use, makes this the go-to social trading platform for beginners.
Beginners can select assets to make up a watchlist, and they also get access to a well-arranged format of selection of Leaders whose trades can be copied. Of particular importance is the Risk Score, which is probably the most important metric that should be considered by beginners when selecting a Leader. The Risk Scoring system of eToro is one of the best out there. It shows in clear figures and in graphical form, how conservative or how risky a Leader's traders are.
For beginners who want to start profiting from forex even as they continue to study the market, eToro's social trading platform affords them such an opportunity.
Conclusion.
The four platforms discussed above are the best forex trading platforms for beginners, and were compiled as a result of the writer's 14-year experience in the forex market.
Title: Re: Currency Trading.
Post by: admin on Jan 08, 2020, 07:33 am
Forex trading.
As the world's most-traded financial market, foreign exchange presents a wealth of opportunities for those who can harness its inherent volatility. Open a forex trading account with Australia's No.1 FX retail provider 1 and use our range of powerful platforms to take advantage of movements in currency prices.
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What is forex trading?
Forex trading, foreign exchange trading or currency trading is the buying and selling of currencies on the forex market with the aim of making a profit.
Forex is the world's most-traded financial market, with transactions worth trillions of dollars taking place every day.
What are the benefits?
Go long or short 24-hour trading High liquidity Regular opportunities Trade on leverage Wide range of FX pairs.
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Your key payment for trading forex is the spread , essentially our commission for executing your trade. We work to keep our spreads among the lowest in the business.
Spot FX IG min. spread IG av. spread 2 DMA av. spread 3 EUR/USD 0.6 0.70 0.165 AUD/USD 0.6 0.76 0.295 USD/JPY 0.7 0.79 0.242 EUR/GBP 0.9 1.33 0.540 GBP/USD 0.9 1.52 0.589 EUR/JPY 1.5 1.61 0.678 USD/CHF 1.5 1.67 0.399.
Depending on your position, you may need to pay overnight funding.
There's no minimum balance required to open an account, it gives you access to over 80 FX pairs, and carries no obligation to fund or trade.
You can trade in smaller sizes for your first month, to help keep costs down while you get comfortable.
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Prices above are subject to our website terms and conditions. Prices are indicative only.
Title: Re: Currency Trading.
Post by: admin on Jan 08, 2020, 07:33 am
Forex trading platforms.
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MetaTrader 4.
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Mobile apps.
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Trade forex on the move, so you need never miss an opportunity.
Choose Australia's No.1 FX provider 1.
Find your next opportunity in our huge range of over 80 major, minor and exotic forex pairs. Why trade with anyone but the No.1?
Get the latest forex news.
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What are the top 5 Australian indices?
FTSE 100, Dax and S&P 500 all looking for further gains.
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1 Number 1 in Australia by primary relationships, FX, Investment Trends December 2018 Leveraged Trading Report 2 Average spread (Monday 00.00 - Fr >For our minimum spreads, please see our CFD and MT4 details. 3 Average spread (Monday 00:00 - Friday 22:00 GMT) for the 12 weeks ending 19th March 2019. There is also a commission charge for Forex Direct.
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Please ensure you fully understand the risks and take care to manage your exposure.
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The information on this site is not directed at residents of the United States or any particular country outside Australia or New Zealand and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Title: Re: Currency Trading.
Post by: admin on Jan 08, 2020, 07:39 am
What is Forex (https://www.forex4you.com/?affid=ae89d5a) and how does it work?
Forex (https://www.forex4you.com/?affid=ae89d5a), also known as foreign exchange or FX trading, is the conversion of one currency into another. It is one of the most actively traded markets in the world, with an average daily trading volume of $5 trillion. Take a closer look at everything you'll need to know about Forex (https://www.forex4you.com/?affid=ae89d5a), including what it is, how you trade it and how leverage in Forex (https://www.forex4you.com/?affid=ae89d5a) works.
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Forex (https://www.forex4you.com/?affid=ae89d5a), or foreign exchange, can be explained as a network of buyers and sellers, who transfer currency between each other at an agreed price. It is the means by which individuals, companies and central banks convert one currency into another - if you have ever travelled abroad, then it is likely you have made a Forex (https://www.forex4you.com/?affid=ae89d5a) transaction.
While a lot of foreign exchange is done for practical purposes, the vast majority of currency conversion is undertaken with the aim of earning a profit. The amount of currency converted every day can make price movements of some currencies extremely volatile. It is this volatility that can make Forex (https://www.forex4you.com/?affid=ae89d5a) so attractive to traders: bringing about a greater chance of high profits, while also increasing the risk.
Title: Re: Currency Trading.
Post by: admin on Jan 08, 2020, 07:41 am
How do currency markets work?
Unlike shares or commodities, Forex (https://www.forex4you.com/?affid=ae89d5a) trading does not take place on exchanges but directly between two parties, in an over-the-counter (OTC) market. The Forex (https://www.forex4you.com/?affid=ae89d5a) market is run by a global network of banks, spread across four major Forex (https://www.forex4you.com/?affid=ae89d5a) trading centres in different time zones: London, New York, Sydney and Tokyo. Because there is no central location, you can trade Forex (https://www.forex4you.com/?affid=ae89d5a) 24 hours a day.
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​Most traders speculating on Forex (https://www.forex4you.com/?affid=ae89d5a) prices will not plan to take delivery of the currency itself; instead they make exchange rate predictions to take advantage of price movements in the market.
Title: Re: Currency Trading.
Post by: admin on Jan 08, 2020, 07:41 am
What is a base and quote currency?
A base currency is the first currency listed in a Forex (https://www.forex4you.com/?affid=ae89d5a) pair, while the second currency is called the quote currency. Forex (https://www.forex4you.com/?affid=ae89d5a) trading always involves selling one currency in order to buy another, which is why it is quoted in pairs - the price of a Forex (https://www.forex4you.com/?affid=ae89d5a) pair is how much one unit of the base currency is worth in the quote currency.
Each currency in the pair is listed as a three-letter code, which tends to be formed of two letters that stand for the region, and one standing for the currency itself. For example, GBP/USD is a currency pair that involves buying the Great British pound and selling the US dollar.
To keep things ordered, most providers split pairs into the following categories:
Major pairs. Seven currencies that make up 80% of global Forex (https://www.forex4you.com/?affid=ae89d5a) trading. Includes EUR/USD, USD/JPY, GBP/USD and USD/CHF Minor pairs. Less frequently traded, these often feature major currencies against each other instead of the US dollar. Includes: EUR/GBP, EUR/CHF, GBP/JPY Exotics. A major currency against one from a small or emerging economy. Includes: USD/PLN, GBP/MXN, EUR/CZK Regional pairs . Pairs classified by region - such as Scandinavia or Australasia. Includes: EUR/NOK, AUD/NZD, AUD/SGD.
What moves the Forex (https://www.forex4you.com/?affid=ae89d5a) market?
The Forex (https://www.forex4you.com/?affid=ae89d5a) market is made up of currencies from all over the world, which can make exchange rate predictions difficult as there are many factors that could contribute to price movements. However, like most financial markets, Forex (https://www.forex4you.com/?affid=ae89d5a) is primarily driven by the forces of supply and demand, and it is important to gain an understanding of the influences that drives price fluctuations here.
Central banks.
Supply is controlled by central banks, who can announce measures that will have a significant effect on their currency's price. Quantitative easing, for instance, involves injecting more money into an economy, and can cause its currency's price to drop.
News reports.
Commercial banks and other investors tend to want to put their capital into economies that have a strong outlook. So, if a positive piece of news hits the markets about a certain region, it will encourage investment and increase demand for that region's currency.
Unless there is a parallel increase in supply for the currency, the disparity between supply and demand will cause its price to increase. Similarly, a piece of negative news can cause investment to decrease and lower a currency's price. This is why currencies tend to reflect the reported economic health of the region they represent.
Market sentiment.
Market sentiment, which is often in reaction to the news, can also play a major role in driving currency prices. If traders believe that a currency is headed in a certain direction, they will trade accordingly and may convince others to follow suit, increasing or decreasing demand.


Title: Re: Currency Trading.
Post by: admin on Jan 08, 2020, 07:41 am
How does Forex (https://www.forex4you.com/?affid=ae89d5a) trading work?
There are a variety of different ways that you can trade Forex (https://www.forex4you.com/?affid=ae89d5a), but they all work the same way: by simultaneously buying one currency while selling another. Traditionally, a lot of Forex (https://www.forex4you.com/?affid=ae89d5a) transactions have been made via a Forex (https://www.forex4you.com/?affid=ae89d5a) broker, but with the rise of online trading you can take advantage of Forex (https://www.forex4you.com/?affid=ae89d5a) price movements using derivatives like CFD trading.
CFDs are leveraged products, which enable you to open a position for a just a fraction of the full value of the trade. Unlike non-leveraged products, you don't take ownership of the asset, but take a position on whether you think the market will rise or fall in value.
Although leveraged products can magnify your profits, they can also magnify losses if the market moves against you.
What is the spread in Forex (https://www.forex4you.com/?affid=ae89d5a) trading?
The spread is the difference between the buy and sell prices quoted for a Forex (https://www.forex4you.com/?affid=ae89d5a) pair. Like many financial markets, when you open a Forex (https://www.forex4you.com/?affid=ae89d5a) position you'll be presented with two prices. If you want to open a long position, you trade at the buy price, which is slightly above the market price. If you want to open a short position, you trade at the sell price - slightly below the market price.
What is a lot in Forex (https://www.forex4you.com/?affid=ae89d5a)?
Currencies are traded in lots - batches of currency used to standardise Forex (https://www.forex4you.com/?affid=ae89d5a) trades. As Forex (https://www.forex4you.com/?affid=ae89d5a) tends to move in small amounts, lots tend to be very large: a standard lot is 100,000 units of the base currency. So, because individual traders won't necessarily have 100,000 pounds (or whichever currency they're trading) to place on every trade, almost all Forex (https://www.forex4you.com/?affid=ae89d5a) trading is leveraged.
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Leverage is the means of gaining exposure to large amounts of currency without having to pay the full value of your trade upfront. Instead, you put down a small deposit, known as margin. When you close a leveraged position, your profit or loss is based on the full size of the trade.
While that does magnify your profits, it also brings the risk of amplified losses - including losses that can exceed your margin . Leveraged trading therefore makes it extremely important to learn how to manage your risk.
What is margin in Forex (https://www.forex4you.com/?affid=ae89d5a)?
Margin is a key part of leveraged trading. It is the term used to describe the initial deposit you put up to open and maintain a leveraged position. When you are trading Forex (https://www.forex4you.com/?affid=ae89d5a) with margin, remember that your margin requirement will change depending on your broker, and how large your trade size is.
Margin is usually expressed as a percentage of the full position. So, a trade on EUR/GBP, for instance, might only require 3.33% of the total value of the position to be paid in order for it to be opened. So instead of depositing £100,000, you'd only need to deposit £3300.
What is a pip in Forex (https://www.forex4you.com/?affid=ae89d5a)?
Pips are the units used to measure movement in a Forex (https://www.forex4you.com/?affid=ae89d5a) pair. A Forex (https://www.forex4you.com/?affid=ae89d5a) pip is usually equivalent to a one-digit movement in the fourth decimal place of a currency pair. So, if GBP/USD moves from $1.353 6 1 to $1.353 7 1, then it has moved a single pip. The decimal places shown after the pip are called fractional pips, or sometimes pipettes.
The exception to this rule is when the quote currency is listed in much smaller denominations, with the most notable example being the Japanese yen. Here, a movement in the second decimal place constitutes a single pip. So, if EUR/JPY moves from ¥106. 45 2 to ¥106. 46 2, again it has moved a single pip.
How is the Forex (https://www.forex4you.com/?affid=ae89d5a) market regulated?
Title: Re: Currency Trading.
Post by: admin on Jan 08, 2020, 07:42 am
Despite the enormous size of the Forex (https://www.forex4you.com/?affid=ae89d5a) market, there is very little regulation because there is no governing body to police it 24/7. Instead, there are several national trading bodies around the world who supervise domestic Forex (https://www.forex4you.com/?affid=ae89d5a) trading, as well as other markets, to ensure that all Forex (https://www.forex4you.com/?affid=ae89d5a) providers adhere to certain standards. For example, in the UK the regulatory body is the Financial Conduct Authority (FCA).
How much money is traded on the Forex (https://www.forex4you.com/?affid=ae89d5a) market daily?
Approximately $5 trillion worth of Forex (https://www.forex4you.com/?affid=ae89d5a) transactions take place daily, which is an average of $220 billion per hour. The market is largely made up of institutions, corporations, governments and currency speculators - speculation makes up roughly 90% of trading volume and a large majority of this is concentrated on the US dollar, euro and yen.
What are gaps in Forex (https://www.forex4you.com/?affid=ae89d5a) trading?
Gaps are points in a market when there is a sharp movement up or down with little or no trading in between, resulting in a 'gap' in the normal price pattern. Gaps do occur in the Forex (https://www.forex4you.com/?affid=ae89d5a) market, but they are significantly less common than in other markets because it is traded 24 hours a day, five days a week.
However, gapping can occur when economic data is released that comes as a surprise to markets, or when trading resumes after the weekend or a holiday. Although the Forex (https://www.forex4you.com/?affid=ae89d5a) market is closed to speculative trading over the weekend, the market is still open to central banks and related organisations. So, it is possible that the opening price on a Sunday evening will be different from the closing price on the previous Friday night - resulting in a gap.
Is Forex (https://www.forex4you.com/?affid=ae89d5a) trading income taxable?
The tax on Forex (https://www.forex4you.com/?affid=ae89d5a) positions does depend on which financial product you are using to trade the markets.
When you trade via a Forex (https://www.forex4you.com/?affid=ae89d5a) broker or through CFDs, any gains to your Forex (https://www.forex4you.com/?affid=ae89d5a) positions are taxed as ordinary income. However, your losses are also considered as ordinary capital losses, which means that you can use them to offset any other tax.
Develop your Forex (https://www.forex4you.com/?affid=ae89d5a) knowledge with IG.
Find out more about Forex (https://www.forex4you.com/?affid=ae89d5a) trading and test yourself with IG Academy's range of online courses.
You might be interested in...
Glossary of trading terms.
Take a look at our list of financial terms that can help you understand trading and the markets.
Risk management.
Be aware of the risks associated with Forex (https://www.forex4you.com/?affid=ae89d5a) trading and understand how IG supports you in managing them.
Trading platforms.
Discover the different platforms that you can trade Forex (https://www.forex4you.com/?affid=ae89d5a) with IG.
Markets.
CFD trading.
Trading platforms.
IG analysis.
Contact us.
Follow us online:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. Professional clients can lose more than they deposit. All trading involves risk.
IG is a trading name of IG Markets Ltd and IG Markets South Africa Limited. International accounts are offered by IG Markets Limited in the UK (FCA Number 195355), a juristic representative of IG Markets South Africa Limited (FSP No 41393). South African residents are required to obtain the necessary tax clearance certificates in line with their foreign investment allowance.
IG provides execution only services and enters into principal to principal transactions with its clients on IG's prices. Such trades are not on exchange. Whilst IG is a regulated FSP, CFDs issued by IG are not regulated by the FAIS Act as they are undertaken on a principal-to-principal basis.
The information on this site is not directed at residents of the United States or Belgium or any particular country outside South Africa and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Voted SA's top CFD provider in Business Day Investors Monthly Annual Stockbroker Awards in 2012 and 2013, best platform for Active Day Traders in 2013 and 2014 and SA's best Online Broker in 2015 and 2017.
Title: Re: Currency Trading.
Post by: admin on Jan 08, 2020, 07:42 am
Forex (https://www.forex4you.com/?affid=ae89d5a) Day Trading in Russia 2019 - Tutorial and Brokers.
Forex (https://www.forex4you.com/?affid=ae89d5a) trading is a huge market. Billions are traded in foreign exchange on a daily basis. Whether you are an experienced trader or an absolute beginner, finding the best Forex (https://www.forex4you.com/?affid=ae89d5a) broker and a profitable Forex (https://www.forex4you.com/?affid=ae89d5a) day trading strategy or system is complex. So learn the fundamentals before choosing the best path for you .
With this introduction, you will learn the general Forex (https://www.forex4you.com/?affid=ae89d5a) trading tips and strategies applicable to currency trading. It will also highlight potential pitfalls and useful indicators to ensure you know the facts. Lastly, use the trusted broker list to compare the best Forex (https://www.forex4you.com/?affid=ae89d5a) platforms for day trading in Russia 2019.
Read on to discover the A-Z of Forex (https://www.forex4you.com/?affid=ae89d5a), how to start trading, and how to judge the best platform...
Top 3 Forex (https://www.forex4you.com/?affid=ae89d5a) Brokers in Russia.
Why Trade Forex (https://www.forex4you.com/?affid=ae89d5a)?
The Forex (https://www.forex4you.com/?affid=ae89d5a) market offers the day trader the ability to speculate on movements in foreign exchange markets and particular economies or regions . Furthermore, with no central market, Forex (https://www.forex4you.com/?affid=ae89d5a) offers trading opportunities around the clock.
Liquidity - In the Forex (https://www.forex4you.com/?affid=ae89d5a) market there is an average volume of over $3.2 trillion dollars traded per day. So, there is an abundance of trades and moves you can make. Diversity - Firstly, you have the pairs stemming from the eight major global currencies. On top of that, many regional currency pairings are also available for trade. More options, more opportunities to turn a profit. Accessibility - The Forex (https://www.forex4you.com/?affid=ae89d5a) market is readily accessible, open twenty-four hours a day, five days a week. As a result, you decide when to trade and how to trade. Leverage - A significant amount of Forex (https://www.forex4you.com/?affid=ae89d5a) currency pairings are traded on margin. This is because leverage can be used to help you both buy and sell large quantities of currency. The greater the quantity, the greater the potential profit - or loss. Low commissions - Forex (https://www.forex4you.com/?affid=ae89d5a) offer relatively low costs and fees compared to other markets. In fact, some firms don't charge any commission at all, you pay just the bid/ask spreads. True ECN firms may also offer 0 spread!
Currencies Traded In Forex (https://www.forex4you.com/?affid=ae89d5a).
Major.
In the international Forex (https://www.forex4you.com/?affid=ae89d5a) day trading world, the vast majority of people focus on the seven most liquid currency pairs on earth, which are firstly the four 'majors':
EUR/USD (euro/dollar) USD/JPY (dollar/Japanese yen) GBP/USD (British pound/dollar) USD/CHF (dollar/Swiss franc)
In addition, there are three emerging pairs:
AUD/USD (Australian dollar/dollar) USD/CAD (dollar/Canadian dollar) NZD/USD (New Zealand dollar/dollar)
These currency pairs, in addition to a variety of other combinations, account for over 95% of all speculative trading in the Forex (https://www.forex4you.com/?affid=ae89d5a) market. However, you will probably have noticed the US dollar is prevalent in the major currency pairings. This is because it's the world's leading reserve currency, playing a part in approximately 88% of currency trades.
Minor.
If a currency pairing doesn't include the US dollar, it's known as a 'minor currency pair' or a 'cross-currency pair'. Hence the most popularly traded minor currency pairs include the British pound, Euro, or Japanese yen, such as:
EUR/GBP (euro/British pound) EUR/AUD (euro/Australian dollar) GBP/JPY (British pound/Japanese yen) CHF/JPY (Swiss franc/Japanese yen)
You can also delve into the trade of exotic currencies such as the Thai Baht and Norwegian or Swedish krone. However, these exotic extras bring with them a greater degree of risk and volatility.
Finding The Best Forex (https://www.forex4you.com/?affid=ae89d5a) Broker.
The "best" Forex (https://www.forex4you.com/?affid=ae89d5a) broker will often be a matter of individual preference. It may come down to the pairs you need to trade, the platform, trading using spot markets or per point or simple ease of use requirements.
Below are a list of comparison factors, some will be more important to you than others but all are worth considering. Details on all these elements for each brand can be found in the individual reviews.
Lowest Trading Costs.
Spreads, commission, overnight fees - everything that reduces your profit on a single trade needs to be considered. High frequency trading means these costs can ratchet up quickly, so comparing fees will be a huge part of your broker choice. Inactivity or withdrawal fees are also noteworthy as they can be another drain on your balance.
Trading Platform.
The trading platform needs to suit you. Whether you want a simple cut down interface, or multiple built in features, widgets and tools - your best option may not be the same as someone else's.
Demo accounts are a great way to try out multiple platforms and see which works best for you. Remember also, that many platforms are configurable, so you are not stuck with a default view.
Title: Re: Currency Trading.
Post by: admin on Jan 08, 2020, 07:42 am
Mobile Trading.
Trading Forex (https://www.forex4you.com/?affid=ae89d5a) on the move will be crucial to some people, less so for others. Most brands offer a mobile app, normally compatible across iOS, Android and Windows.
If this is key for you, then check the app is a full version of the website and does not miss out any important features. The download of these apps is generally quick and easy - brokers want you trading.
Customer Service.
Is customer service available in the language you prefer? Is there live chat, email and telephone support? When are they available? How high a priority this is, only you can know, but it is worth checking out.
Asset List.
Does the broker offer the markets or currency pairs you want to trade? A pretty fundamental check, this one. If you are trading major pairs, then all brokers will cater for you. If you want to trade Thai Bahts or Swedish Krone you will need to double check the asset lists and tradable currencies.
Regulation.
Do you want a broker regulated by a particular body - the FCA, SEC or ASIC perhaps? Remember European regulation might impact some of your leverage options, so this may impact more than just your peace of mind. We cover regulation in more detail below.
Spreads Or Commission.
Partly covered in trading costs, but the spreads are often a comparison factor on their own.
This is because you are not tied down to one broker. If you trade 3 or 4 different currency pairs, and no single broker has the tightest spread for all of them, then shop around. There is nothing wrong with having multiple accounts to take advantage of the best spreads on each trade. Beware of slippage 'hiding' wider spreads too often.
Title: Re: Currency Trading.
Post by: admin on Jan 08, 2020, 07:42 am
Payment Methods.
Deposit method options at a certain Forex (https://www.forex4you.com/?affid=ae89d5a) broker might interest you. Do you want to use Paypal, Skrill or Neteller? Are you happy using credit or debit cards knowing this is where withdrawals will be paid too?
Some Forex (https://www.forex4you.com/?affid=ae89d5a) brokers now accept deposits in Bitcoin or a range of other crypto's too.
Security.
Most brands will follow regulatory demands to separate client and company funds, and offer certain levels of user data security. Some brands might give you more confidence than others, and this is often linked to the regulator or where the brand is licensed. A worthy consideration.
Demo Accounts.
Try before you buy. Most credible brokers are willing to let you see their platforms risk free. Trading on a demo account or simulator is a great way to test strategy, back test or learn a platforms nuances. Try as many as you need to before making a choice - and remember having multiple accounts is fine (even recommended).
Account Types.
From cash, margin or PAMM accounts, to Bronze, Silver, Gold and VIP levels, account types can vary. The differences can be reflected in costs, reduced spreads, access to Level II data, settlement or different leverage. Micro accounts might provide lower trade size limits for example.
Retail and professional accounts will be treated very differently by both brokers and regulators for example. An ECN account will give you direct access to the Forex (https://www.forex4you.com/?affid=ae89d5a) contracts markets. So research what you need, and what you are getting.
Leverage.
For European Forex (https://www.forex4you.com/?affid=ae89d5a) traders this can have a big impact. Forex (https://www.forex4you.com/?affid=ae89d5a) leverage is capped at 1:30 by the majority of brokers regulated in Europe. Assets such as Gold, Oil or stocks are capped separately.
In Australia however, traders can utilise leverage of 1:500. That makes a huge difference to deposit and margin requirements. Australian brands are open to traders from across the globe, so some users will have a choice between regulatory protection or more freedom to trade as they wish.
Just note that higher leverage increases potential losses, just as it does potential profits.
Tools Or Features.
From charting to futures pricing or bespoke trading robots, brokers offer a range of tools to enhance the trading experience. Again, the availability of these as a deciding factor on opening account will be down to the individual. Level 2 data is one such tool, where preference might be given to a brand delivering it.
Education.
Forex (https://www.forex4you.com/?affid=ae89d5a) trading beginners in particular, may be interested in the tutorials offered by a brand. These can be in the form of e-books, pdf documents, live webinars, expert advisors (ea), courses or a full academy program - whatever the source, it is worth judging the quality before opening an account. Bear in mind Forex (https://www.forex4you.com/?affid=ae89d5a) companies want you to trade, so will encourage trading frequently.
MetaTrader 4 or 5.
Integration with popular software packages like Metatrader 4 or 5 (MT4 or MT5) might be crucial for some traders. Many brands offer automated trading or integration into related software, but if you are going to rely on it, you need to make sure.
Title: Re: Currency Trading.
Post by: admin on Jan 08, 2020, 07:43 am
Bonus.
From cashback, to a no deposit bonus, free trades or deposit matches, brokers used to offer loads of promotions. Regulatory pressure has changed all that. Bonuses are now few and far between. Our directory will list them where offered, but they should rarely be a deciding factor in your Forex (https://www.forex4you.com/?affid=ae89d5a) trading choice. Also always check the terms and conditions and make sure they will not cause you to over-trade.
Execution Speed.
Desktop platforms will normally deliver excellent speed of execution for trades. But mobile apps may not. While this will not always be the fault of the broker or application itself, it is worth testing.
Scams.
Our reviews have already filtered out the scams, but if you are considering a different brand, avoid getting caught out with these checks;
Were you 'cold called'? Reputable firms will not call you out of the blue (This includes emails, or facebook or Instagram channels) Are they offering unrealistic profits? Just stop and consider for a minute - if they could make the money they are claiming, why are they cold calling or advertising on social media? Are they offering to trade on your behalf or use their own managed or automated trades? Do not give anyone else control of your money.
If you have any doubts, simply move on. There are plenty of legitimate, legal brokers.
With all these comparison factors covered in our reviews, you can now shortlist your top Forex (https://www.forex4you.com/?affid=ae89d5a) brokers, take each for a test drive with a demo account, and select the best one for you. We have ranked brokers based on our own opinion and offered ratings in our tables, but only you can award '5 stars' to your favourite!
Read who won the DayTrading.com 'Best Forex (https://www.forex4you.com/?affid=ae89d5a) Broker 2019' on the Awards page.
Forex (https://www.forex4you.com/?affid=ae89d5a) Broker Reviews.
Use this table with reviews of the top Forex (https://www.forex4you.com/?affid=ae89d5a) brokers to compare all the FX brokers we have ever reviewed. Note that some of these Forex (https://www.forex4you.com/?affid=ae89d5a) brokers might not accept trading accounts being opened from your country. If we can determine that a broker would not accept your location, it is marked in grey in the table.
Forex (https://www.forex4you.com/?affid=ae89d5a) Broker Reviews Broker Demo Min Dep. MT4 Bonus 24Option Yes $250 Yes No Avatrade Yes $100 Yes Yes AxiTrader Yes 0 $/€/£ Yes No Ayondo Yes £1 Yes No BDSwiss Yes 100 $/€/£ No No Binary.com Yes $5 Yes No Capital.com Yes £/$/€100 No No CityIndex Yes £/$100 Yes Yes CMC Markets Yes £ 0 Yes No eToro Yes $200 Yes No ETX Capital Yes £250 Yes No Finq.com Yes $100 Yes Yes Forex (https://www.forex4you.com/?affid=ae89d5a).com Yes $50 Yes No Fusion Markets Yes No Minimum Yes No FXCM Yes £300 Yes No FXPro Yes $100 Yes No IC Markets Yes $200 Yes No IG Group Yes £250 Yes No Interactive Brokers Yes $10000 No No Invest.com Yes £0 Yes Yes Investous Yes $250 Yes No IQ Option Yes $10 No No Just2Trade Yes £2500 Yes No LCG Yes 0 $/€/£ Yes No Markets.com Yes $100 Yes No Nadex Yes $250 No No NinjaTrader Yes $50 Yes No NordFX Yes $10 Yes No Oanda Yes $0 Yes No Pepperstone Yes £100 / $200 Yes No Plus500 Yes $100 No Yes Saxo Bank Yes 0 $/€/£ Yes No Skilling.com Yes 100 £/€/$ or 1000 NOK, SEK No No Spreadex No $1 No No TD Ameritrade Yes None No Yes Trading212 Yes €/£/$100 No No UFX Yes $100 Yes No VantageFX Yes $200 Yes Yes Videforex Yes $250 No Yes XM Yes 5 $/€/£ Yes Yes XTB Yes $250 Yes No ZuluTrade Yes $1 to $300 (Broker choice dependent) Yes No.
Forex (https://www.forex4you.com/?affid=ae89d5a) Regulation.
Regulation should be an important consideration. Whether the regulator is inside, or outside, of Europe is going to have serious consequences on your trading. ESMA (the European Securities and Markets Authority) have imposed strict rules on Forex (https://www.forex4you.com/?affid=ae89d5a) firms regulated in Europe. This includes the following regulators:
CySec (Cyprus Securities and Exchange Commission) FCA (Financial Conduct Authority) BaFin - (Bundesanstalt für Finanzdienstleistungsaufsicht) Swiss Financial Market Supervisory Authority (Switzerland)
ESMA have jurisdiction over all regulators within the EEA.
The rules include caps or limits on leverage, and varies on financial products. Forex (https://www.forex4you.com/?affid=ae89d5a) leverage is capped at 1:30 (Or x30). Outside of Europe, leverage can reach 1:500 (x500).
Traders in Europe can apply for Professional status. This removes their regulatory protection, and allows brokers to offer higher levels of leverage (among other things).
Outside of Europe, the largest regulators are:
SEC - Securities and Exchange Commission (US) CFTC - Commodity Futures Trading Commission (US) CSA - Canadian Securities Administration ASIC - Australian Securities and Investments Commission.
These cover the bulk of countries outside Europe. Forex (https://www.forex4you.com/?affid=ae89d5a) brokers catering for India, Hong Kong, Qatar etc are likely to have regulation in one of the above, rather than every country they support. Some brands are regulated across the globe (one is even regulated in 5 continents). Some bodies issue licenses, and others have a register of legal firms.
So to reiterate, an ASIC Forex (https://www.forex4you.com/?affid=ae89d5a) broker can offer higher leverage to a trader in Europe.