is an international off-exchange market with a daily turnover of more than 3 trillion dollars. The name “ Forex
” comes from the phrase “ FOR eign EX change”, meaning an international
currency exchange. The major participants of this market are the
world’s largest banks, which buy and sell different currencies, raw
materials, gold, oil, shares and CFD for futures. All banks are united
in a global informational network with no reference to any particular
country, which allows the online exchange market to operate 24/7.
The other participants in this global network are Forex
Brokers; companies providing services at the exchange market to anyone who is hoping to profit from changes in currency rates.
Trading operations are carried out by means of specific trading terminals connected to the server of a Forex
broker via the Internet. These terminals can be used not only for
online trading, but for getting the latest market news, performing
analysis and making forecasts, as well as monitoring currency rates and prices for stock and raw materials.
The main advantages of Forex
trading is that you require a relatively small initial deposit to start
trading and you can make money while staying at home. The high risks of
trading can always be minimized, if you approach them in the right way.
Success in online currency trading is not determined by your age, sex,
social status or nationality, as everyone has equal opportunities and
you are the only person you depend on. However, you should never
to be an easy way of making money and forget about the specific features of Forex
market. You must carefully study all aspects of the foreign exchange
market, such as the behavior of a particular currency pair, future or
CFD. Remember, your knowledge is the key to success.
Studying the Forex
market will help you understand how the global economy works, learn
more about the processes in international financial markets and find out
about advantages and disadvantages of existing trading strategies. By
improving your Forex
knowledge you will be able to use technical
indicators, wave and graphical analysis, and other methods of market
research. The knowledge you acquire during this process will help you
develop your own system of risk-management, which is the key to any
successful online trading system... READ MORE on FOREX BASICS