The market Forex (Forex) – is an international exchange market, which has received the name from reduction of FOReign EXchange that in a translation from English means «an exchange of foreign currency».
The Forex market – is the inter-bank market exchange of all relevant international currencies at free quotes.
Free rate (or quotation) is formed without any fixed values or restrictions due to the existing at the moment of time the ratio of the bid/offer.
Who are in the Forex market?
The main market participants of the Forex market, influencing the formation of exchange rates, are central and commercial banks.
They account for most of the Forex exchange transactions, which naturally affects the cost of participating currencies.
Not less important participants of the Forex market, making exchange transactions for their own personal purposes, this is a different investment banks, insurance and pension funds, transnational corporations and other financial institutions.
Their influence on the formation of exchange rates is not as noticeable as the Central Bank, but dismissed their significance is also not worth it.
Forex Brokers and Traders are in the market too
The most interesting for private speculators on the market Forex is another group of participants – dealers and brokers.
These financial companies provide access on the market Forex to all wishing Traders, and without their services any private person cannot make speculative operations.
The main function of brokers Forex – the information of the seller and the buyer of a foreign currency and realization of this trading operation.
Thanks to this group, trade in the international currency market of Forex became already available long ago to all segments of the population.
Self-trading in the inter-bank market FOREX represent a great interest and it is characterized:
Financial independence of the Trader;
Unlimited profitability of trading activities;
Minimum threshold for entry into the market;
Opportunity to earn no matter how evolved the market situation;
Relative anonymity of financial transactions;
Opportunity to earn income without investing their own funds (Partnership, trust).
Where and How to begin your Forex Investment?
With what to begin participation in trading?
Get the experience of trading without investing own funds by opening a training trading account that allows you to test any trading strategy and practice in trade all the tools that are available in the Company.
To facilitate understanding and making trading decisions the Company created the “Analytics” section, where the Client accessed news and market reviews, calendar of economic events, analysis and recommendations of experts in the trade.
Making transactions on a demo account, you can understand trading principles in the FOREX market and gain self-confidence.
Then you can confidently move on to real trading, where you can fully appreciate the opportunities of FOREX, opening a real trading account.
By this time in your arsenal for future successful trading must be the following skills and abilities:
- Possession fundamental and technical the analysis;
- Financial discipline and conducting statistics of deals;
- Skill to study on another’s mistakes and capacity to self-checking.
However, beginners should understand that Forex is a rather clever tactics and understanding the underlying psychological processes rather than just dry statistics and mathematics.
Novice players are presented Forex as an exciting game, which brings considerable income.
If to penetrate, FOREX is available to all beginners it is only necessary to understand the goals and priorities.
In this case You, undoubtedly, will help the observation of the monitoring professionals-Managers through monitoring of PAMM-accounts.
And remember, all were newcomers to the Forex….
XM the largest MT4 broker
Start working on FOREX with XM – the right decision because:
Trading conditions on demo accounts as close as possible to the real interbank conditions, and on the real accounts are competitive interbank;
A wide choice of trading instruments and types of accounts, each of which gets a separate liquidity provider;
Unavailable for other participants of the interbank market conditions: minimum deposit is 5 USD, minimum lot and its increment-from 0.01, leverage up to 1:888;
24-hour support in a mode 24/5, online help section, articles and learning for trading on FOREX.
For more information about XM’s service, visit the official website from here.