Forex trading is trading the currency of a nation for the currency of a different country at their current exchange rate. Futures trading, which is based on a currency's coming value is different all together but many people get the two confused. You could also see Forex referred to as FORX, FourX, or even 4X when you perform a search on the internet. All Forex trading is conducted through brokers or market makers so it is valuable to do your research previous to funding a margin account which is required for trading. If you are interested in trading on the Forex, it is valuable that you do your research. Read what others are saying and if they have made or lost money trading on the Forex. Learn the language of trading on the Forex. You need to know the language that is used so that you won't be puzzled by the information that you read. Traders try to capture points or pips. A pip is a point in the currency trading community. Forex trading is also called Spot trading or trading on the Spot market. Don't invest further than you can afford to risk! Funding your margin account should only be done with funds that, if lost, will not significantly effect your financial well being. Trading on the Forex involves a particular amount of risk as does investing in the stock market. Don't invest your life savings on the Forex, especially if you are a beginner to currency trading. A good rule for beginners is to only invest an amount that you can afford to and therefore build upon that as you make thriving trades. You should not invest money that you must have to live on in either the stock market or Forex. You finance your trading with your margin account which guarantees other traders that you can pay them if you lose on the Forex. A margin account is a bond account, a place to deposit your money and an account to withdraw money from when necessary. Forex trading is performed in lots and you use your margin account to buy the right to trade lots of currency on the foreign exchange. These lots of currency are equal to differing amounts of USD which depends on their trading value versus the dollar. You purchase the right to trade lots of currency with the funds held in your margin account. Choose your trading firm sensibly when you decide to invest in currency trading on the Foreign Exchange Market. Current Federal regulations don't allow Forex trading firms to guarantee the performance of any Forex currency trading system. Look for a reputable Forex trader that has the credentials to back up their claims of performance. A qualified Forex trader is educated and disciplined to follow their method of trading using good judgment to lessen the risk of currency trading. Don't let greed get in the way of skilled sense when considering an investment in Forex although there is money to be made trading currency.
The Forex trading industry
With a daily turnover of over $3.2 trillion, as estimated by The Bank of International Settlement, the Forex market has quickly become the world`s biggest and most liquid financial market. Nevertheless, it is a market that has up until now allowed very narrow access to private traders, since it customarily uses terminology and procedures that can take years to grasp.
About eToro
eToro has developed a cutting edge Forex trading software, catering to novice and veteran traders alike by way of a user friendly trading interface, and various additional features that render the vast world of Forex trading accessible to new traders. eToro`s easy to use platform makes foreign exchange trading almost entirely intuitive, through its extensive use of trade visualization. eToro`s platform is also designed to make Forex trading a community oriented experience, with such features as private and public chats, forums and championships.
eToro`s provision of an opportunity to acquire trading experience by trading for virtual money, makes this platform hugely attractive to beginner traders, since it enables them to get their chops without risking any of their money. This way, novices can get a fundamental understanding of the world of Forex, before they dive in. Furthermore, eToro makes the learning experience a smooth and painless one, by replacing the complex charts and lingo that the Forex market is famous for, with step by step instructions, tutorials, professional support and creative graphic representations of trading activity.
eToro`s forward thinking approach combines all the advantages of the Forex market, namely its scale, its liquidity and its extent of opportunity, with all the advantages of online technology, in order to create a user friendly access to an enormous and complex industry.
Overall, eToro has produced the ultimate trading environment, where one can learn, develop, communicate, and grow according to one`s individual needs.
eToro`s Features:
eToro has designed a cornucopia of features that make trading, monitoring, communicating and staying informed simpler than ever. These features include:
Visual representations: Trades are depicted through various creative representations, so you can monitor your activity with ease.
Practice mode: Polish your skills by trading with virtual money for live rates, before putting them to the test.
Competitions: Compete against fellow traders for cash prizes and Forex glory - with no entry fees.
Chat: Whether it`s Forex or romance, discuss it all with your trader friends in public or private chats.
Trade: Enjoy real time execution with all your trades.
Low Spreads: Save a fortune on eToros super low spreads - as low as 2 pips spread.
Download eToro for FREE now to experience the world of Forex trading to the fullest.
Tuesday, February 23, 2010
Subscribe to:
Posts (Atom)
Posts
