JUMPING into the forex trade is not as easy as it sounds. You need to do research, have an ample grasp of how the trade goes, know the kind of people that you are going to be dealing with and preparing for all kinds of possibilities. In order for you to prepare for all these, you need to read and learn first about forex broker reviews.
Forex broker reviews are precious bits of information that will guide prospective and inexperienced traders on the mechanics of the foreign exchange game. Forex broker reviews are usually testimonials or opinions about a certain or group of forex traders or forex firms who have rendered their services to clients.
It is very important for people to first test out the waters, so to say, before finalizing a deal with forex brokers. By reading broker reviews, traders will be guided accordingly by the opinion and experience of those who have tried dealing in the foreign exchange market.
For example, as a trader, how will you know that the one you will be dealing with to make your money grow in the forex market is genuine and not just after his own interest?
Many people seem to just join the fray right on because of the thought of making huge earnings without thinking carefully about what can go wrong. This is when it is crucial to read and be educated first with broker reviews so that you can be well-equipped on the technicalities, and even tricks, of the trade.
Forex broker reviews can come in different "taste" and "color". Some reviews are dotted with bias while others are plain dull.
Like websites, broker reviews are products in themselves as they attract the attention of people to check them out and read what they have to say. And, for these broker reviews to be effective and "saleable", they must be credible, straightforward and factual.
Forex broker reviews contain the thoughts of money experts and currency trading professionals and therefore serve as tools to guide both beginner and even experienced money traders into the complicated world known as the foreign exchange market.
It is very hard to imagine anxious traders just diving straight into the deep ocean of financial trade without the aid of broker reviews all because of the irresistible urge to make it big-time in forex trading.
Shelling out money with some broker whose track record is still to be verified is like swimming in shark-infested waters. It has been said time and again: read the label first! Forex reviews are reminders for traders to be wary about the "what, where, when, and how" of the currency game.
This is one of the most common mistakes people make: they do not read the sign. Forex reviews are like "Nutritional Facts" found in canned goods. They tell people about the ingredients and the kind of stuff that they will be consuming.
The main reason why people need to read broker reviews is for them to warned about the many pitfalls as well as the success stories that have ever taken place in the fast-paced world of foreign exchange.
One good thing about reading reviews is that they teach you to be alert and wise on the different types of personalities and behaviors of forex brokers once you decide to put money on the table and start the ball rolling with them.
Forex broker reviews are very important because they inform people on what's new in online trading and keep them abreast with other scoops about influential personalities behind successful companies and how these top honchos can challenge and inspire you.
Keeping an open mind when reading about forex reviews will definitely help a lot as not all that is written in the reviews can be generally applicable to you. As mentioned above, many forex broker reviews tend to be one-sided, while others lack persuasion and appeal.
Meanwhile, the choice is yours. Always remember; for you to be able to play the game right, you must follow the rules, trust your own instincts, be wise and always be on alert for the bad guys.
Article Source: http://EzineArticles.com/6930837
الأحد، 25 مارس 2012
Best Forex Trading Platforms
One of the problems that traders encounter is making mistakes too often by rushing through decisions. A way to eliminate human error while trading on the Forex Market is to use Forex robots. Seasoned and beginning traders both use these programs to help ensure greater success and profitability.
These robots are programs designed specifically to mock human actions but removing the human error and emotion that comes with Forex trading. This computer software is designed to interface directly with whatever platform you might operate your trading on. Utilizing this kind of software with your trading practice can help eliminate some of the errors that occur when traders get too emotional about their trading. Putting emotions into trading can end up being quite costly. The individual who succeeds in this profession is one who studies trends and charts and then trades by the numbers that are revealed to them. Using a robot can help you experience gains from trades you might not have even considered on your own.
Another advantage to using a robot program is that it takes some of the work away from you. A robot will base all its decisions from running numbers and figures. This software analyze at a glance the daily, long term, or even semi-daily trends that may happen. The program is then able to determine what actions will produce the highest level of profit based on the research it conducts. This saves the trader time and money because it takes the gambling aspect out of the process. To put it simply, the robot will not waste time on thrill and excitement but will just look at the numbers and make an accurate projection.
It is important to know that no robot is error proof. There are instances where they loose money but in general they perform well the majority of the time. Programs come with a stop loss feature where it will stop using the picks and trades that have lost too much money for the trader.
There are several detailed reviews and comparisons of different Forex robot programs available online. It is best to do some basic reading on these programs to determine which system will work best for your level of experience trading. Some traders like to use automated robots as their main trading system while others use robots to just manage part of their portfolio. It is important to understand that how well these robots work will depend on the strategies and the money management systems that are adopted. To get a clear understanding on how your robot works you scan ask or back test the software and see how it performs under various circumstances. The detailed review sites will help you pick from the best robot programs available.
Article Source: http://EzineArticles.com/6939846
These robots are programs designed specifically to mock human actions but removing the human error and emotion that comes with Forex trading. This computer software is designed to interface directly with whatever platform you might operate your trading on. Utilizing this kind of software with your trading practice can help eliminate some of the errors that occur when traders get too emotional about their trading. Putting emotions into trading can end up being quite costly. The individual who succeeds in this profession is one who studies trends and charts and then trades by the numbers that are revealed to them. Using a robot can help you experience gains from trades you might not have even considered on your own.
Another advantage to using a robot program is that it takes some of the work away from you. A robot will base all its decisions from running numbers and figures. This software analyze at a glance the daily, long term, or even semi-daily trends that may happen. The program is then able to determine what actions will produce the highest level of profit based on the research it conducts. This saves the trader time and money because it takes the gambling aspect out of the process. To put it simply, the robot will not waste time on thrill and excitement but will just look at the numbers and make an accurate projection.
It is important to know that no robot is error proof. There are instances where they loose money but in general they perform well the majority of the time. Programs come with a stop loss feature where it will stop using the picks and trades that have lost too much money for the trader.
There are several detailed reviews and comparisons of different Forex robot programs available online. It is best to do some basic reading on these programs to determine which system will work best for your level of experience trading. Some traders like to use automated robots as their main trading system while others use robots to just manage part of their portfolio. It is important to understand that how well these robots work will depend on the strategies and the money management systems that are adopted. To get a clear understanding on how your robot works you scan ask or back test the software and see how it performs under various circumstances. The detailed review sites will help you pick from the best robot programs available.
Article Source: http://EzineArticles.com/6939846
Best Forex Trading Platforms
Forex, which is also referred to as foreign exchange, is well known for their 24 hours access, high unpredictability, low minimum balance accounts and profit potential. Due to these reasons, this area has thousands of brokers and trading software to accommodate the soaring client demand. Traders who are new to forex are easily weighed down by various trading platform options. Luckily for all forex traders, some forex trading platform features systematically excel to make the choices softer.
Etoro
The etoro platform and brokerage service is greatly considered for its plentiful set of programs and easy trader interface. It is one of the best forex trading platforms evaluated by top forex trading experts and is among the top 10 most rated forex brokers. Etoro providers "paper trading" assistance to give fresh traders the idea of live forex trading with no need to utilize real money. Loading money into your etoro account is simple, as the firm allows a broad diversity of payment options, comprising of credit cards, paypal, moneybookers and wire transfers. With just $50, you can begin to trade with etoro. The firm makes the act of trading forex enjoyable by giving contests with cash gifts for its traders.
Forexyard
It takes the second position as the best forex trading platform as reviewed by leading forex experts. It is mainly effectual for clients new to forex trading. Additionally, it is not just an easy platform for trading but it also provides enlightening services to offer fresh traders a firm introduction into the quick-stepped action of forex currency trading. A coaching course and a practice account are offered to fresh customers for free. The company provides round the clock customer assistance for their platform and the capability to relate with forex professionals and technicians on the net. In addition, Forexyard carries numerous promotions for fresh customers, comprising of cash back preference upon first time lodgment of funds for trading.
Fxpro
Positive client response for Fxpro is among the finest for all forex trading platforms, and the firm has also gotten several other merits. World finance magazine picked Fxpro as the best forex broker for 2009, and the following year it got the same credit by CEO magazine. The firm does not just provide trading platform on the forex market but it also broadens its platform to stock trading and futures. Its 24-hour live support sees to it that trader receive assistance regardless of the time of the day they select to trade. Live news feeds which comes from Dow Jones assists traders by giving them up to date information on instant changes in the market atmosphere. In addition, one account opened with Fxpro provides the customer with link to three platforms for no additional fee.
Article Source: http://EzineArticles.com/6937439
Etoro
The etoro platform and brokerage service is greatly considered for its plentiful set of programs and easy trader interface. It is one of the best forex trading platforms evaluated by top forex trading experts and is among the top 10 most rated forex brokers. Etoro providers "paper trading" assistance to give fresh traders the idea of live forex trading with no need to utilize real money. Loading money into your etoro account is simple, as the firm allows a broad diversity of payment options, comprising of credit cards, paypal, moneybookers and wire transfers. With just $50, you can begin to trade with etoro. The firm makes the act of trading forex enjoyable by giving contests with cash gifts for its traders.
Forexyard
It takes the second position as the best forex trading platform as reviewed by leading forex experts. It is mainly effectual for clients new to forex trading. Additionally, it is not just an easy platform for trading but it also provides enlightening services to offer fresh traders a firm introduction into the quick-stepped action of forex currency trading. A coaching course and a practice account are offered to fresh customers for free. The company provides round the clock customer assistance for their platform and the capability to relate with forex professionals and technicians on the net. In addition, Forexyard carries numerous promotions for fresh customers, comprising of cash back preference upon first time lodgment of funds for trading.
Fxpro
Positive client response for Fxpro is among the finest for all forex trading platforms, and the firm has also gotten several other merits. World finance magazine picked Fxpro as the best forex broker for 2009, and the following year it got the same credit by CEO magazine. The firm does not just provide trading platform on the forex market but it also broadens its platform to stock trading and futures. Its 24-hour live support sees to it that trader receive assistance regardless of the time of the day they select to trade. Live news feeds which comes from Dow Jones assists traders by giving them up to date information on instant changes in the market atmosphere. In addition, one account opened with Fxpro provides the customer with link to three platforms for no additional fee.
Article Source: http://EzineArticles.com/6937439
Learn What Is Forex To Earn Fast Money
People who want to know what is forex can learn all about the forex trade online. There are many websites that provide online education to groom people so they can trade online and make a good living. The forex trade is a very lucrative way of making money and is very volatile in nature. New traders are taught the currency pairs and the price movement during the day. It is important to study the market trend so you know when to buy and sell. There are many situations that require expert advice. So, it is wise to first learn from the gurus and keep them available before you begin to make any investment.
The foreign exchange trading started in the 1970's when countries switched to floating exchange rates. Large investment groups use forex as a way of increasing wealth. The business is also good for individuals as it allows them to work from home. Many forex trading houses maintain their own websites that have state-of-the-art software for users. Investors who open an account online are able to log on and study the market. After the market behavior is clear to an investor, he or she is in a better position to buy or sell a currency pair. The use of graphs and charts is common in making a speculation on forex pairs. The political conditions and government policies affect the price of a currency. In times of war, investors move their investments from forex and invest in commodities such as gold and oil. Most forex traders offer commodities for trading as well. The markets are open 24 hours a day and close only on weekends.
The most popular currency pairs are EUR/USD and GBP/USD. The prices of these pairs move up and down throughout the day, allowing people to gain good profits. To become a successful trader, it is important to learn the global market timings so one can find a good volume in trading before taking any trading position. The use of discipline is also important as one has to abide by good trading practices and not overuse the equity at any time. People who never use more than 10% of their equity can make a good profit. With real time software in use many individuals are learning forex and making small investments for extra income. The average daily turnover in forex trading is estimated to be more than US$4 trillion.
Article Source: http://EzineArticles.com/6942220
The foreign exchange trading started in the 1970's when countries switched to floating exchange rates. Large investment groups use forex as a way of increasing wealth. The business is also good for individuals as it allows them to work from home. Many forex trading houses maintain their own websites that have state-of-the-art software for users. Investors who open an account online are able to log on and study the market. After the market behavior is clear to an investor, he or she is in a better position to buy or sell a currency pair. The use of graphs and charts is common in making a speculation on forex pairs. The political conditions and government policies affect the price of a currency. In times of war, investors move their investments from forex and invest in commodities such as gold and oil. Most forex traders offer commodities for trading as well. The markets are open 24 hours a day and close only on weekends.
The most popular currency pairs are EUR/USD and GBP/USD. The prices of these pairs move up and down throughout the day, allowing people to gain good profits. To become a successful trader, it is important to learn the global market timings so one can find a good volume in trading before taking any trading position. The use of discipline is also important as one has to abide by good trading practices and not overuse the equity at any time. People who never use more than 10% of their equity can make a good profit. With real time software in use many individuals are learning forex and making small investments for extra income. The average daily turnover in forex trading is estimated to be more than US$4 trillion.
Article Source: http://EzineArticles.com/6942220
السبت، 24 مارس 2012
Foreign exchange market
"Forex" redirects here. For the football club, see FC Forex Braşov.
Foreign exchange
Exchange rates
Currency band
Exchange rate
Exchange rate regime
Exchange rate flexibility
Dollarization
Fixed exchange rate
Floating exchange rate
Linked exchange rate
Managed float regime
Markets
Foreign exchange market
Futures exchange
Retail foreign exchange
Assets
Currency
Currency future
Non-deliverable forward
Foreign exchange swap
Currency swap
Foreign exchange option
Historical agreements
Bretton Woods Conference
Smithsonian Agreement
Plaza Accord
Louvre Accord
See also
Bureau de change / currency exchange (office)
Hard currency
The foreign exchange market (forex, FX, or currency market) is a form of exchange for the global decentralized trading of international currencies. Financial centers around the world function as anchors of trading between a wide range of different types of buyers and sellers around the clock, with the exception of weekends. The foreign exchange market determines the relative values of different currencies.[1]
The foreign exchange market assists international trade and investment by enabling currency conversion. For example, it permits a business in the United States to import goods from the European Union member states especially Eurozone members and pay Euros, even though its income is in United States dollars. It also supports direct speculation in the value of currencies, and the carry trade, speculation on the change in interest rates in two currencies.[2]
In a typical foreign exchange transaction, a party purchases a quantity of one currency by paying a quantity of another currency. The modern foreign exchange market began forming during the 1970s after three decades of government restrictions on foreign exchange transactions (the Bretton Woods system of monetary management established the rules for commercial and financial relations among the world's major industrial states after World War II), when countries gradually switched to floating exchange rates from the previous exchange rate regime, which remained fixed as per the Bretton Woods system.
The foreign exchange market is unique because of
its huge trading volume representing the largest asset class in the world leading to high liquidity;
its geographical dispersion;
its continuous operation: 24 hours a day except weekends, i.e. trading from 20:15 GMT on Sunday until 22:00 GMT Friday;
the variety of factors that affect exchange rates;
the low margins of relative profit compared with other markets of fixed income; and
the use of leverage to enhance profit and loss margins and with respect to account size.
As such, it has been referred to as the market closest to the ideal of perfect competition, notwithstanding currency intervention by central banks. According to the Bank for International Settlements,[3] as of April 2010, average daily turnover in global foreign exchange markets is estimated at $3.98 trillion, a growth of approximately 20% over the $3.21 trillion daily volume as of April 2007. Some firms specializing on foreign exchange market had put the average daily turnover in excess of US$4 trillion.[4]
The $3.98 trillion break-down is as follows:
$1.490 trillion in spot transactions
$475 billion in outright forwards
$1.765 trillion in foreign exchange swaps
$43 billion currency swaps
Foreign exchange
Exchange rates
Currency band
Exchange rate
Exchange rate regime
Exchange rate flexibility
Dollarization
Fixed exchange rate
Floating exchange rate
Linked exchange rate
Managed float regime
Markets
Foreign exchange market
Futures exchange
Retail foreign exchange
Assets
Currency
Currency future
Non-deliverable forward
Foreign exchange swap
Currency swap
Foreign exchange option
Historical agreements
Bretton Woods Conference
Smithsonian Agreement
Plaza Accord
Louvre Accord
See also
Bureau de change / currency exchange (office)
Hard currency
The foreign exchange market (forex, FX, or currency market) is a form of exchange for the global decentralized trading of international currencies. Financial centers around the world function as anchors of trading between a wide range of different types of buyers and sellers around the clock, with the exception of weekends. The foreign exchange market determines the relative values of different currencies.[1]
The foreign exchange market assists international trade and investment by enabling currency conversion. For example, it permits a business in the United States to import goods from the European Union member states especially Eurozone members and pay Euros, even though its income is in United States dollars. It also supports direct speculation in the value of currencies, and the carry trade, speculation on the change in interest rates in two currencies.[2]
In a typical foreign exchange transaction, a party purchases a quantity of one currency by paying a quantity of another currency. The modern foreign exchange market began forming during the 1970s after three decades of government restrictions on foreign exchange transactions (the Bretton Woods system of monetary management established the rules for commercial and financial relations among the world's major industrial states after World War II), when countries gradually switched to floating exchange rates from the previous exchange rate regime, which remained fixed as per the Bretton Woods system.
The foreign exchange market is unique because of
its huge trading volume representing the largest asset class in the world leading to high liquidity;
its geographical dispersion;
its continuous operation: 24 hours a day except weekends, i.e. trading from 20:15 GMT on Sunday until 22:00 GMT Friday;
the variety of factors that affect exchange rates;
the low margins of relative profit compared with other markets of fixed income; and
the use of leverage to enhance profit and loss margins and with respect to account size.
As such, it has been referred to as the market closest to the ideal of perfect competition, notwithstanding currency intervention by central banks. According to the Bank for International Settlements,[3] as of April 2010, average daily turnover in global foreign exchange markets is estimated at $3.98 trillion, a growth of approximately 20% over the $3.21 trillion daily volume as of April 2007. Some firms specializing on foreign exchange market had put the average daily turnover in excess of US$4 trillion.[4]
The $3.98 trillion break-down is as follows:
$1.490 trillion in spot transactions
$475 billion in outright forwards
$1.765 trillion in foreign exchange swaps
$43 billion currency swaps
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